All USA articles – Page 32
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News
Walmart to reduce supply chain greenhouse gas emissions
Walmart wants to eliminate 20 million metric tons of greenhouse gas emissions from its global supply chain by the end of 2015.The target figure represents 1.5 times the retailer’s estimated global carbon footprint growth over the next five years and is the equivalent of taking more than 3.8 million cars ...
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AnalysisUS department stores see benefits of discount shops
The recession has breathed new life into US off-price clothing chains as consumers look for thrifty ways to shop without compromising on style.
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News
Kohl’s sales up 4.8%
Department store operator Kohl’s achieved net income of $991m (£664.6m) last year compared with $885m (£593.5m) the previous financial year.Net sales climbed 4.8% to $17.2bn (£11.5bn) and comparable store sales increased 0.4% against the previous year. Kohl’s ended the year with 1,058 stores in 49 states; it opened 56 outlets ...
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News
Toys R Us in IPO talks
The private-equity owners of Toys R Us are in talks with investment banks about the possibility of underwriting an initial public offering this summer, the New York Post reported.It is understood Bain Capital, KKR and Vornado Realty Trust are talking with banks including Goldman Sachs, Deutsche Bank and JPMorgan Chase. ...
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Walmart reports sales up 1%
Walmart has reported net sales of $405bn (£260bn) for its financial year to January 31, 2010 - an increase of 1% on the previous year.Income from continuing operations attributable to Walmart increased 8.8% to $14.4bn (£9.2 bn). Full-year net sales from the international division were $100.1bn (£64bn), a 1.3% increase ...
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January US retail sales beat expectations
January sales at US retailers beat analyst expectations, improving prospects for first-quarter economic growth.Commerce Department figures showed retail sales rose 0.5% as consumers stepped up spending not only on essential goods but luxury items as well.Stores specialising in electronics and appliances, sporting goods, hobby-related items, books and music all experienced ...
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News
Lowe’s opens first store in Mexico
US-based home improvement chain Lowe’s has opened its first store in Mexico, in the northern industrial city of Monterrey.The retailer has made a $100m (£61.6m) investment in the Latin American country and plans to open five stores in the Monterrey area over the next few years.
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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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News
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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News
US multiples’ like-for-likes up 3.3%
Retail Metrics reported that its index of multiple retailers’ same-store sales figures rose 3.3% - higher than the 2.4% forecast and the fifth successive month of positive year-on-year sales growth shown by the index.During January high street retailers and department stores reported an increase in sales.Macy’s same-store sales climbed 3.4% ...
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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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News
Macy's to cut 1,500 jobs
Department store operator Macy’s is to cut 1,500 store-level jobs, according to reports in the US press.The move comes as the retailer strives to improve efficiencies across the company. Remaining staff will undergo training to take on additional responsibilities.Macy’s spokesman Jim Sluzewski declined to confirm the number of redundancies, but ...
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News
Macy's to launch outlet store
Macy’s-owned Bloomingdale’s plans to launch outlet stores.The first four outlet stores will open in the second half of the year, with two expected to be located in South Florida.The 25,000 sq ft stores will carry clothing and accessories for women, men and children. They will feature both new merchandise and ...
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News
Walmart to cut jobs
Walmart plans to cut about 11,200 jobs at its Sam’s Club warehouse chain as it outsources its in-store product demonstrations.The move is part of an effort to improve sales at Sam’s Club, which has underperformed compared with the retailer’s other fascias.The cuts represent about 10% of the 600-store chain’s 110,000 ...
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News
Target to expand to Canada
Discount retailer Target is making plans to expand outside the US, including a foray into Canada.The retailer wants to open its first stores outside its home country within three to five years. It is considering Canada, Mexico or Latin America as its most likely destinations.“As we approach each of these ...
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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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News
SuperValu is one of the latest US retailers to launch a range rationalisation programme
In some categories, the SKU count will be reduced by up to 25% as the grocer aims to reduce costs and remove complexity from the shopping experience.According to chief executive Craig Herkert, the move is designed to eliminate redundant package sizes rather than get rid of entire product brands. “I ...
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NewsTax and debt burden fails to dent US retail optimism
US retailers have certainly got a spring back in their step if the evidence from last week’s annual get-together at the National Retail Federation (NRF) in New York was anything to go by.
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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