North America – Page 19

  • News

    US fashion retailers struggle in second quarter

    2009-08-21T00:00:00Z

    A number of clothing retailers have reported negative results in their second quarters, with only Urban Outfitters posting positive sales up against last year.Abercrombie & Fitch made a net loss of $26.7m (£16.3m) against a profit of $77.8m (£47.6m) during the same quarter last year, with total sales plummeting 23% ...

  • News

    Blockbuster Q2 revenues fall nearly 22%

    2009-08-21T00:00:00Z

    Blockbuster has posted lower than expected quarterly revenues and same-store sales, blaming stiff competition for its performance.The DVD rental chain made a net loss for the second quarter that narrowed to $39.7m (£24.3m) from a net loss of $44.7m (£27.3m). Revenue fell nearly 22% to $1.02bn (£623.9m). Chief executive James ...

  • News

    Barnes & Noble posts 5% decrease in second-quarter sales

    2009-08-21T00:00:00Z

    Book retailer Barnes & Noble posted a 5% decrease in second-quarter sales to $1.2bn (£700m). Store sales decreased 5% to $1bn (£600m), with like-for-like sales down 6.9% for the quarter.Sales generated by the retailer’s website climbed to $102m (£62m) for the quarter, a 2% increase compared with the year before.The ...

  • HomeDepot
    News

    Weak consumer confidence continues to hit US retail sales

    2009-08-19T09:04:00Z

    There was little sign of improvement in consumer confidence in the US as many retailers reported second quarter results yesterday.

  • News

    Retail Sales fall again in US

    2009-08-14T00:00:00Z

    Retail sales fell again in July marking the 11th consecutive month of sales declines in the country.According to Retail Metrics, which tracks US comparable store sales, they fell 4.7% in July. Only a handful of retailers reported comparable sales increases, including TK Maxx parent TJX and discount department stores Kohl’s. ...

  • News

    Finlay Enterprises has filed for Chapter 11 bankruptcy protection

    2009-08-14T00:00:00Z

    Jeweller Finlay Enterprises has filed for Chapter 11 bankruptcy protection and plans to auction its business and assets.The retailer operates 182 locations across the country, including the upmarket Bailey Banks & Biddle chain, as well as 77 concessions within Bon-Ton department stores.Meanwhile, the country’s leading specialist jeweller by store count, ...

  • Stores including Target suffered like-for-like sales declines in July
    News

    US sales down 4.7% in July

    2009-08-07T09:48:00Z

    US retail sales fell again in July marking the 11th consecutive month of sales declines in the country.

  • News

    Staples International president to leave the business

    2009-08-07T00:00:00Z

    Staples International president Peter Ventress is to leave the business for a chief executive position at an as-yet unnamed UK-based public company.Staples president and chief operating officer Mike Miles will assume Ventress’ responsibilities from September 1, making Miles responsible for all of Staples’ international businesses.Chairman and chief executive Ron Sargent ...

  • News

    Book Depository to take on US market

    2009-07-31T00:00:00Z

    Online retailer The Book Depository has revealed a 50 per cent hike in revenue to £62m in the year to June 30 as it lays out plans to take on the £9bn US book market.

  • News

    Loblaw to acquire T&T Supermarket

    2009-07-31T00:00:00Z

    Grocer Loblaw is to acquire Canada’s largest Asian food retailer, T&T Supermarket, comprising 17 stores and four distribution centres.The retailer will add about C$500m (£280.1m) in sales to Loblaw’s business, which is paying C$225m (£126m) for the deal, which is expected to complete before the year end.Like-for-likes at Loblaw rose ...

  • News

    Best Buy is trials sale of discounted laptops with internet contracts

    2009-07-31T00:00:00Z

    Electricals giant Best Buy is trialling the sale of discounted laptops with internet contracts, echoing a similar initiative used by joint-venture partner Carphone Warehouse in Europe.Customers at selected stores can buy lower priced laptops if they sign up for two years with a broadband provider. Best Buy chief executive Brian ...

  • News

    Avon plans job cuts

    2009-07-31T00:00:00Z

    Mail order and door-to-door beauty specialist Avon is planning to cut 1,200 jobs over the next four years in a major cost-saving drive.The retailer expects to take on a second-quarter charge of about $90m (£54.5m) for its restructuring plan. The overhaul – which includes focusing on streamlining the business and ...

  • Zappos
    News

    Amazon takeover to open Zappos up to new markets

    2009-07-31T00:00:00Z

    E-tailer Zappos has been a household name in the US for some time. The shoe specialist has been on a phenomenal growth path, with sales skyrocketing from $1.6m (£969,820) in 2001 to more than $1bn (£606.1m) last year.

  • News

    Golden Gate Capital agrees to buy Eddie Bauer Holdings

    2009-07-24T00:00:00Z

    Private equity firm Golden Gate Capital has agreed to buy Eddie Bauer Holdings for $286m (£172.9m) in cash after an auction for the bankrupt US outdoor and fashion retailer. US-based Golden Gate said that it has agreed to keep open most of Bauer’s 370 stores in the US and Canada.Bauer, ...

  • CIT
    News

    Relief for US retailers as lender avoids collapse

    2009-07-24T00:00:00Z

    Embattled US retailers faced a potentially crippling hammer blow last week as bank CIT Group teetered on the edge of bankruptcy.

  • News

    Wal-Mart develops worldwide sustainable product index for suppliers

    2009-07-24T00:00:00Z

    Wal-Mart is developing a worldwide sustainable product index for suppliers in an attempt to establish a single source of data for evaluating the sustainability of products.The initiative will run in three phases: surveying its more than 100,000 suppliers; helping create a consortium of universities that will collaborate with suppliers, retailers ...

  • News

    PetSmart considers expanding its services

    2009-07-24T00:00:00Z

    PetSmart, America’s largest pet store chain, is considering an expansion into in-home services, including dog walking and setting up home aquariums, in an effort to distinguish itself from retailers such as Wal-Mart.PetSmart is in the early stages of developing ways to provide the services, according to the retailer’s new chief ...

  • jessica simpson joey
    News

    US denim brand True Religion to open first UK stores

    2009-07-17T07:00:00Z

    US designer denim brand True Religion is to kick off a European standalone store opening programme with a London opening planned for this year.

  • News

    Department stores' sales suffer in June

    2009-07-17T00:00:00Z

    Department stores have revealed lacklustre sales in June.Neiman Marcus reported total sales fell 19.4 per cent during the five-week period. Sales declined to $323m from $401m (£200.7m from £249.1m) the year before. Like-for-like sales at the group, which also includes Bergdorf Goodman, fell 21 per cent.Macy’s posted a 9 per ...

  • News

    Gap to launch in Thailand next spring

    2009-07-17T00:00:00Z

    Gap will launch in Thailand next spring after signing a franchise agreement with Armin Systems. Gap also said that comparable store sales in June were down 10 per cent, while total sales fell 9 per cent to Story text.29bn.Store sales for Banana Republic in North America fell the most on ...