North America – Page 13
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News
Netflix on the look-out for new international markets after success in Canada
Online streaming site Netflix said it was pleased with the results of its recent market entry into Canada and was looking at new international markets for 2011. Spokesman Steve Swasey declined to reveal how many subscribers had signed up in Canada, but said: “After a short period in Canada we’re ...
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News
Target pinpoints 10 locations for small-format stores
Get the knowledgeSubscribers have exclusive access to Retail Week Knowledge Bank. Find out what you’re missing now.Discount variety retailer Target has pinpointed 10 locations where it will open its smaller-format store concept. The list is composed of urban areas with densely populated central business districts and includes San Francisco, Seattle, ...
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News
Sears to launch movie download service
Department store group Sears has unveiled plans to launch a movie download service at its eponymous and Kmart stores. The service, called Alphaline Entertainment, would be available to users on a variety of devices, including mobile, and will offer customers the ability to download movies and TV shows the same ...
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News
A&P files for Chapter 11 bankruptcy protection
US Tengelmann-controlled A&P has filed for Chapter 11 bankruptcy protection as it struggles with enormous debt and increased competition from low-priced peers.The retailer operates 395 stores around the Northeast under the A&P, Waldbaum’s, The Food Emporium, Super Fresh, Pathmark and Food Basics banners.
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News
Kroger sales rise 5.9%
Food chain Kroger has announced that total sales, including fuel, for the third quarter rose 5.9% to $18.7bn (£11.9bn). Net income totalled $202.2m (£128.5m), compared with a net loss of $874.9m (£555.9m) reported in the same period last year. The retailer said that all departments experienced positive like-for-like growth during ...
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News
Couche-Tard Q3 revenue up 5.6% to £961m
Convenience store chain Couche-Tard posted a 5.6% rise in revenues excluding fuel to $1.5bn (£961m) for the second quarter ended October 10. Like-for-like sales were up 4.9% in the US and 1.6% in Canada. Net earnings grew 19.7% to $105.6m (£68m). President and chief executive Alain Bouchard said: “The economic ...
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News
Online emerges as Black Friday's big winner
Online emerged as Black Friday’s big winner with ComScore reporting that ecommerce rose 9% year on year to reach $648m. Coremetrics recorded a rise in the number of people logging on to a retailer’s website from a mobile device, up to 5.6% from less than 1% last year. Meanwhile, data ...
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News
Metro profit rises 10.6% to #7bn
Grocery retailer Metro recorded a 10.6% increase in net earnings for the year ended September 25, on sales up 1.3% to CAD11.34bn (£7bn). Net earnings reached CAD392m (£241m) versus CAD354.4m (£218m) last year.During the fourth quarter earnings climbed to CAD93.4m (£57.5m) from CAD84.4m (£52m) a year ago, on sales up ...
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News
Loblaw like-for-like sales drop after acquisition
Grocer Loblaw has reported sales of CAD9.6bn (£5.9bn) in the 16 weeks ended October 9, up from CAD9.5bn (£5.95bn) in the previous year, helped by the acquisition of Asian supermarket chain T&T.Like-for-like sales declined 0.4%. Gross profit increased by CAD152m (£94m), or 7%, to CAD2.3bn (£1.4bn) in the third quarter. ...
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News
Target Q3 sales up 3% to £9.5bn
Discount superstore operator Target has reported its financial results for the third quarter ended October 30. Retail sales increased 3% to $15.2bn (£9.5bn), from $14.8bn (£9.2bn) in 2009, due to a 1.6% increase in like-for-like sales combined with the contribution from new stores. EBIT for the retail segment came in ...
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News
Sears Holdings records £136m loss
Department store retailer Sears Holdings recorded a loss of $218m (£136m) for the three months ended October 30, from $127m (£80m) during the prior-year period. Sales declined 4.9% to $9.7bn (£6bn), primarily as a result of a 4.8% decrease in domestic like-for-like sales.The retailer said that results were hurt by ...
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AnalysisLands' End: Living the American dream
US retailer Lands’ End has come out of the shadows to reveal its expansion plans and a new target customer.
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News
Indigo Q2 revenue rises 3.8%
Book retailer Indigo has reported a 3.8% growth in revenue for its second quarter ending October 2. Revenue for the quarter was CAD214.8m (£131.7m), up CAD7.8m (£4.8m) from last year. On a like-for-like basis, Indigo and Chapters superstores posted a 0.7% decline in revenue, while small format stores were ...
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News
Shoppers Drug Mart Q3 sales increase 2.6% to £1.9bn
Shoppers Drug Mart has recorded a 2.6% sales rise in the third quarter to CAD3.09bn (£1.9bn), with the company reporting continuing sales growth in all regions of the country. On a like-for-like basis, sales increased 1.2% during the quarter, while prescription sales increased 0.8%, or 0.2% on a like-for-like basis.
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News
Kohl's and Macy's records flat Q3 profits
Department store retailers Kohl’s and Macy’s have reported their third-quarter results for the period ended 30 October. Kohl’s reported its net profit for the third quarter was flat at $194m (£120.3m), compared with $193m (£119.7m) a year ago. Net sales for the quarter were $4.2bn (£2.6bn), an increase of ...
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News
Whole Foods Market like-for-likes increase 7.1%
Grocery retailer Whole Foods Market has reported sales for the full year ended September 26 increased 12% to $9bn (£5.56bn), with like-for-likes increasing 7.1%. EBITDA increased 29% to $713.6m (£440.9m). These results included Federal Trade Commission-related legal costs of $2.5m, compared with $14.7m in the prior year and a gain ...
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News
A&P launches international foods private-label range
Tengelmann-controlled A&P is launching a new private-label range of international foods. Named The Food Emporium Trading Company - after one of A&P’s store banners - the range will be sold at the eponymous stores in addition to the A&P, SuperFresh and Waldbaum’s banners.
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News
OfficeMax Q3 sales drop 1% to £1.2bn
OfficeMax reported total company sales for the third quarter ended September 25 decreased 1% to $1.81bn (£1.2bn). However, pre-tax profit was $33m (£21m), compared with $17m (£11m) in the third quarter of 2009. For the full year, OfficeMax said it expected total company sales to be slightly lower than fiscal ...
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News
Sephora Americas to enter Mexico through JV with Grupo Axo
LVMH-owned perfumery Sephora Americas has signed a joint venture agreement with Grupo Axo to establish a retail presence in Mexico. The two partners will begin operations with two store openings in the second half of 2011 and significant additional store openings targeted each year thereafter.This joint venture further signifies Sephora’s ...
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AnalysisA world of international retail opportunities
Emerging markets globally have retail potential, but could any be the new China? By Tim Danaher