North America – Page 18
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News
Movie Gallery to close 805 stores
Film rental chain Movie Gallery plans to close 805 poorly performing US stores after falling sales and mounting losses led to its second bankruptcy in three years.The closures affect a third of the retailer’s 2,415 US stores and several thousand of the company’s 19,100 employees are likely to lose their ...
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Dollar General to open 600 stores this year
Fixed-price retailer Dollar General is gunning to open a further 600 stores over the next 12 months, creating about 5,000 jobs. The 5,000 anticipated new jobs come on the heels of about 4,000 jobs created by Dollar General in 2009, according to the retailer.Meanwhile, Dollar Tree reported record net sales ...
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News
Walmart cuts 300 head office jobs
Walmart is to cut 300 jobs at its headquarters in Arkansas as chief executive Mike Duke attempts to cut costs and make the retailer more efficient.In a memo sent to employees, Duke said managers were asked to look for opportunities to eliminate duplication and reduce costs when deciding which jobs ...
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AnalysisWalmart savings will fund improvements to US stores
Staying true to the first promise in its strapline “Save money. Live better”, Walmart is embarking on a series of organisational changes in an attempt to drive further efficiencies across the company.
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NewsLoblaw man Dalton Philips to succeed Marc Bolland at Morrisons
Dalton Philips, chief operating officer of Canadian grocer Loblaw, has been appointed chief executive of Morrisons.
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GalleryStore of the week: Superdry, New York
The eyes of many British retailers seeking to advertise that they are global brands seem, in many high-profile instances, to turn more readily towards the US than Europe when a judgement is made about where to go next.
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AnalysisRecovering US retailers’ plan of attack
The rules of retail in the US have changed, but the impact will be felt worldwide. Joanna Perry reports from New York
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NewsWalmart to use supply chain to cut costs in 2010
Walmart, the world’s biggest retailer, estimates that savings of between 5-15%, or $4bn-$12bn, will be possible by globalising its purchasing.
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News
Sales at Shoppers Drug Mart increase 7.9%
Sales at pharmacy chain Shoppers Drug Mart increased 7.9% to C$3bn (£1.7bn) in the third quarter, with the retailer continuing to experience strong sales growth in all regions of Canada.Excluding tobacco products, same-store sales climbed 4.8%. Prescription sales rose 9.7% to C$1.5bn (£856.4m) during the quarter, accounting for 49.1% of ...
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News
JC Penney signs Liz Claiborne licensing deal
US Department store chain JC Penney has signed a licensing agreement with Liz Claiborne to exclusively sell its namesake line of clothing in stores beginning in autumn next year.The 10-year deal includes 30 categories from apparel and accessories, including jewellery, shoes anda home merchandise. After five years, JC Penney will ...
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News
Family Dollar Store profits up
Family Dollar Stores posted a 25% net income increase to $291.3m (£178.2m) for the financial year ending August 29, up on the $233.1m (£142.6m) reported the year earlier. Operating profit, as a percentage of sales, was 6.1% for the period compared with 5.2% last year. Sales were $7.4bn (£4.5bn), a ...
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AnalysisUS warehouse clubs suffer as discretionary spend dips
US warehouse club operators like Costco will have to brace themselves for more difficult trading in the near term
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News
Walmex Q3 profits jump 18%
Wal-mart’s Mexican subsidiary Walmex’s third-quarter net profit jumped 18% as its low price promotions helped it weather the economic slump.The retailer said it earned MXN3.86bn (£177m) in the period, compared with MXN3.26bn (£149m) a year earlier. Total revenue for the quarter rose 12% to MXN64.59bn (£2.96bn), while EBITDA grew 17% ...
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GalleryDoing Dallas: How does NorthPark measure up?
The US may do things bigger, but do they do them better? John Ryan visits Dallas and one of the Lone Star state’s top shopping centres to find out how its retail scene measures up
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AnalysisLowe’s curtails expansion as it braces for tough 2010
DIY retailer Lowe’s has followed in the footsteps of rival Home Depot by scaling back its expansion plans.
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AnalysisUS retail: Battered and bruised, but on its way back
What happens in US retail is frequently mirrored in the UK. Financo chair Gilbert Harrison examines how the US is emerging from its brutal downturn
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News
Wal-Mart Canada opens first eco-friendly Supercenter
Wal-Mart Canada has opened its first eco-friendly Supercenter in Waterdown, Ontario.
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News
Staples announces a 9% increase in sales
Office specialist Staples announced a 9% increase in sales to $5.5bn (£3.37bn) for its second quarter. In North America retail sales decreased 5% to $2bn (£1.23bn).Comparable store sales decreased 5% against 2008, reflecting declines in average order size and weakness in durable categories such as business machines and furniture. Internationally, ...
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News
Borders reports widening losses
Book retailer Borders reported widening losses of $12.7m (£7.8m) for its second quarter, compared with a loss of $10.5m (£6.4m) for the same period last year.Quarterly sales were $616.8m (£378.1m), down 17.7% from a year ago. Comparable store sales fell 17.9% and 10.8% at Borders superstores and Waldenbooks stores respectively.Chief ...