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‘The Daily Wrap:’ Dollar General, Wal-Mart, Hannaford
Dollar General Increases Net Income by Half
Dollar store retailer reported net income of $141.2 million in Q2 fiscal 2010, a 51% year-over-year increase. Dollar General also grew gross margin, operating profit and same-store sales. Source: Dollar General
Wal-Mart Canada Pushes Private Label
Wal-Mart Canada is giving its private label fashion range George a revamp and retrofitting the apparel...
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‘The Daily Wrap:’ Blockbuster, Kroger, Borders
Blockbuster Bankruptcy in Works Could Shut 800 Stores
According to several published reports quoting sources familiar with the situation, struggling media entertainment chain Blockbuster will enter a “pre-planned” bankruptcy in mid-September 2010 that will allow it to restructure a debt load of nearly $1 billion, as well as escape leases on 500 to 800 of its worst-performing brick-and-mortar...
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Mature Consumers Appreciate Brand Daring
A growing audience of experienced, less-easily shocked, outspoken consumers appreciate brands that are a little bit more daring and outspoken, according to consumer insights firm trendwatching.com.
The Rise of ‘Maturialism’trendwatching.com has dubbed this growing consumer trend “Maturialism.” According to trendwatching.com, consumers of today no longer tolerate being treated like...
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‘The Daily Wrap:’ Burger King, Toys R Us, Papa Murphy’s
Burger King Opens 249 Net Global Stores
Fast food hamburger retailer Burger King opened 249 net new global stores during its recently-concluded fiscal 2010, including 59 net new stores in the US. Global revenues dropped 1% during the fiscal year. Source: Burger King Holdings, Inc.
Toys R Us Selects Retail Sense
Toy retailer Toys R Us has selected the Retail Sense marketing communication...
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‘The Daily Wrap:’ Wal-Mart, Target, Nordstrom
Wal-Mart Grows Net Sales 3%
Discount retailer Wal-Mart Stores, Inc. increased net sales 2.8% to $103 billion in its Q2 fiscal 2011. Other quarterly results include growth in consolidated operating income and decline in U.S. comparable store sales. Source: Wal-Mart Stores, Inc.
Target Uproots Garden Centers
Discount retailer Target Corp. is closing all of its 262 garden centers due to lack of...
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Drugstore Retailers Draw Crowds with Tech, Assortments, Discounts
Major drugstore chains are using mobile alerts, loyalty programs and expanded assortments to boost same-store sales. In addition, leading U.S. drugstore retailers CVS and Wal-Mart are comfortable enough with their sales at existing stores to undergo major acquisition efforts.
Walgreens Tests Chilled Foods, Text AlertsWalgreens will conduct a test of chilled foods at up to 50 stores this fall....
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‘The Daily Wrap:’ Blockbuster, Wal-Mart, Quiznos
Blockbuster Adds Games to Mail Service
Media entertainment retailer has added video games to its rental by mail service. Blockbuster says it is now the first entertainment company to offer rentals of games, movies, and TV shows for home delivery through a single subscription service. Source: Blockbuster, Inc.
Appeals Court Dismisses Objection to Wal-Mart Employees Wage and Hour Settlement
The...
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‘The Daily Wrap:’ B&N, Kroger, Texas Rangers
B&N Considers Sale
The board of directors of book retailer Barnes & Noble, Inc. intends to evaluate strategic alternatives, including a possible sale of the company, in order to increase stockholder value. The board came to this decision based on the price of Barnes & Noble shares in the marketplace, which it believes are now significantly undervalued. Source: Barnes & Noble, Inc.
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‘The Daily Wrap:’ Publix, GameStop, Netflix
Publix Boosts Sales
Supermarket retailer Publix reported improved sales during Q2 fiscal 2010. Publix’ sales were $6.2 billion, a 3.4% increase from last year’s $6 billion, and comparable-store sales for the second quarter of 2010 increased 2.4%. Source: Publix
GameStop Follows Customers
Video game retailer GameStop wants to exploit the crossover between ‘core’ gamers at retail and...
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‘The Daily Wrap:’ Supervalu, Winn-Dixie, Uno
Supervalu Net Sales Drop
Supermarket retailer Supervalu reported a roughly 9% drop in Q1 fiscal 2011 net sales. Supervalu also reported declining net and operating earnings. Source: Supervalu Inc.
Winn Dixie Plans 30 Store Closures
Southeastern supermarket retailer Winn-Dixie Stores, Inc. will close 30 non-remodeled, underperforming stores. The company will also consolidate its four operating...
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