All USA articles – Page 21
-
News
Williams-Sonoma Q4 net revenues up 9.7% to £740m
Home furnishings retailer Williams-Sonoma has reported net revenues in its fourth quarter increased 9.7% to $1.2bn (£740m), including internet net revenue growth of 27.2% and a like-for-like sales increase of 5.2%.At the company’s mail order unit, Direct-to-customer (DTC), net revenues increased 17.3% to $466m (£287m), primarily driven by the Pottery ...
-
News
Walgreens sells its pharmacy benefit management business
Walgreens has sold its pharmacy benefit management business Walgreens Health Initiatives (WHI) to Catalyst Health Solutions for $525m (£450m), subject to certain adjustments. The transaction is structured as an acquisition of all the capital stock of WHI.Walgreens will retain and look to continue growing its speciality pharmacy and mail service ...
-
News
Blockbuster to go ahead with its proposed £180m sale to investors
Troubled retailer Blockbuster has been given clearance by the US courts to go ahead with its proposed $290m (£180m) sale to investors, overcoming fears that the group may file for Chapter 7 liquidation.The retailer had come under pressure from creditors, including a growing number of movie studios that were owed ...
-
News
Gap to close 200 of its 900 stores worldwide by 2013
Clothing giant Gap is to close 200 of its 900 stores worldwide by 2013, and has stated that part of its difficulties are due to it not investing enough in attracting ethnic minority customers in the US. Chairman and chief executive Glenn Murphy said Gap’s market share among African-, Asian- ...
-
News
Big Lots net Q4 sales up 3.8% to £934m
Discount retailer Big Lots reported that net sales increased 3.8% to $1.52bn (£934m) in the fourth quarter, while net income increased to $110m (£68m) from the $105.4m (£65m) compared with the same period last year.The retailer reported strong 2010 full-year results. Net sales increased 4.8% to $4.9bn (£3bn) and net ...
-
News
Kroger sales up 7.1% to £50.5bn
Grocer Kroger reported that sales for the full year increased 7.1% to $82.2bn (£50.5bn). Excluding fuel, total sales increased 3.4% while like-for-like sales were up 2.8%. Net income amounted to $1.12bn (£688m), compared with the $70m (£43m) reported in fiscal 2009. Operating profit totalled 2.65% of sales during the fiscal ...
-
NewsJohn Lewis expands online with international delivery
Retailer confident it can conquer US, Europe and Australia with ‘world class’ home product offer.
-
News
Family Dollar Stores' directors vote against sale
Family Dollar Stores has announced its board of directors has voted unanimously against a sale to the Trian Group, instead voting for the continuing implementation of the company’s strategic plan.The board felt both decisions were in the best interest of the shareholders. It also decided to adopt a shareholder rights ...
-
News
Toys R Us Q4 net income plummets more than 10%
Toys R Us has reported that, despite stronger sales, net income during the fourth quarter dropped more than 10%, which the retailer attributed to a rise in income taxes.Net sales increased 2% to $6bn (£3.7bn), helped by new store locations including Toys R Us Express stores and comparable net sales ...
-
News
Gap Q4 net income up 4% last year
US Fashion retailer Gap has said that fourth-quarter net income rose nearly 4% in 2010 as a result of rising sales abroad, online and at its higher price Banana Republic and lower price Old Navy chains. The retailer reported quarterly net income of $365m (£226.4m). Like-for-like sales did not change. ...
-
News
RadioShack net sales up 4.6% to $4.47bn
Consumer electronics retailer RadioShack has reported total net sales and operating revenues for the year ended December 31, 2010 up 4.6% to $4.47bn (£2.77bn), while net income increased 1.1% to $206m (£127.8m). The sales increase was driven by a 4.4% like-for-like sales increase in company-operated stores and kiosks, helped by ...
-
News
Safeway rakes up £366m net income after loss last year
Grocery chain Safeway reported net income for the fiscal year ended January 1, 2011 amounted to $590m (£366m), compared with a net loss of $1.1bn (£682.4m) reported last year. Sales for the full year edged up 0.5% to $41.05bn (£25.5bn). Excluding fuel, identical store sales declined 2% while like-for-like sales ...
-
News
Blockbuster received bid for £179.9m as it puts itself up for auction
Troubled entertainment retailer Blockbuster has put itself up for auction and has received a bid from a consortium for $290m (£179.9m). The US chain has reportedly agreed to sell itself to Cobalt Video Holdco in a deal that includes its UK operations. Blockbuster chairman and chief executive Jim Keyes said: ...
-
News
Borders files for bankruptcy protection
Borders has filed for bankruptcy protection, sunk by crushing debt and sluggishness in adapting to a rapidly changing industry.The 40-year-old company plans to close about 200 of its 642 stores over the next few weeks. All of the stores closed will be superstores, a Borders spokeswoman said. The company also ...
-
News
Build-A-Bear revenue up 1.4% to £247m
Toy retailer Build-A-Bear Workshop reported total revenues increased by 1.4% to $401.5m (£247m) in its 2010 fiscal year. Excluding the impact of foreign exchange, net retail sales increased 0.1%.Consolidated like-for-like sales declined 2%, which included a 1.2% decrease in North America and a 5.5% decrease in Europe.Net income for the ...
-
News
JC Penney to close underperforming stores
Mid-market department store retailer JC Penney has outlined plans to close underperforming stores, wind down its catalogue and outlet operations and consolidate its call centres.At the same time, the retailer announced that investor William Ackman will sit on the chain’s board. Ackman’s Pershing Square Capital Management along with Vornado have ...
-
News
Blockbuster faces eviction from dozens of US stores due to unpaid rent
Blockbuster reportedly faces eviction from dozens of US stores where it has not paid rent, adding to the bankrupt company’s troubles. According to local press, four landlords have asked a bankruptcy judge to order immediate rental payment for 38 of the company’s stores.
-
News
Whole Foods Market Q1 sales up 14% to £1.87bn
Whole Foods Market has reported sales for the first quarter ended January 16 increased 14% to $3bn (£1.87bn), with like-for-likes soaring 9.1%. Operating income, meanwhile, rose 44.1% to $147.6m (£92.1m) during the quarter.The retailer also announced plans to open wellness clubs at five of its US stores. The clubs, which ...
-
News
Walgreens to run campaign promoting private-label
Drugstore operator Walgreens is to run its first national advertising campaign promoting its private-label health and wellness products. The campaign will highlight the quality of its private labels and the customer service provided by its pharmacists, rather than just their affordability. The digital portion of the campaign is the result ...
-
News
Kroger ramps up promotions through MyWebGrocer
Kroger has started to provide shoppers at all its banners with information about promotions and products through MyWebGrocer. With the online tool, consumers can also personalise shopping lists and receive recipes through a computer or smartphone. Tengelmann A&P, Winn-Dixie, Delhaize Food Lion and Shop Rite are also participating in MyWebGrocer.