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‘The Daily Wrap:’ Home Depot, Amazon, Starbucks
Home Depot Springs Black Friday Sale
Home improvement retailer The Home Depot is running “Spring Black Friday,” a weekend of regional door-buster sales, starting Thursday, March 18, 2010 in southern and western states and at a later date in cooler parts of the country. Sale assortments will vary by local geography and customer preference. Source: The Home Depot
Amazon Releases Kindle for...
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‘The Daily Wrap:’ Safeway, Gap, Wal-Mart
Safeway Reports $1.6B Net Loss
Supermarket retailer Safeway reported a Q4 fiscal 2009 net loss of $1.6 billion. Safeway also reported quarterly declines in total sales and gross profit. Source: Safeway Inc.
Gap Eyes Italy
Department store retailer Gap Inc. plans to enter the Italian market in 2010 with flagship Gap and Banana Republic Stores in Milan. Gap intends to open further stores in...
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‘The Daily Wrap:’ Wal-Mart, RadioShack, Burger King
Wal-Mart Enters Digital Download Biz
Discount retailer Wal-Mart is set to acquire VUDU, Inc., a provider of digital technologies and services that enable the delivery of entertainment content directly to broadband high-definition TVs and Blu-ray players. The deal is expected to close within the next few weeks. Source: Wal-Mart Stores, Inc.
Burger King Rolls Out New Broiler
Fast food retailer...
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Home Improvement Market Shows Signs of Rebound
While the U.S. home improvement market has not totally shaken off the weakness that plagued it during 2008 and the first three quarters of fiscal 2009, strong fourth quarter net earnings performance by leading chains The Home Depot, Inc. and Lowe’s Companies, Inc. suggest it is preparing for a rebound this year.
Home Depot Earnings ImproveDespite declines in some fiscal areas, Home Depot...
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Retail Sales Rebound in January - Update
According to the January 2010 Advance Monthly Retail Trade Survey from the U.S. Census Bureau, U.S. retail and food service sales rose 0.5%, from $353 billion to $355.8 billion, last month. U.S. retail and food service sales have been in a seesaw pattern in recent months, with sales falling 0.3% in December 2009, 1.5% in September and 2% in July, but rising 1.8% in November 2009, 1.4% in...
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‘The Daily Wrap’: Polo Ralph Lauren, Domino’s, WilcoHess
“The Daily Wrap” offers a roundup of the day’s biggest retail industry headlines. Following are some news items you may be interested in checking out.
Polo Ralph Lauren Boosts Net Income
Vertical apparel retailer Polo Ralph Lauren increased net income by 5.7% in fiscal Q3 2010. Polo also grew comparable store sales by 6% and reported gains in revenue, operating income and gross margin...
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Home Depot Shuts Stores, Cuts Jobs
Home improvement retailer The Home Depot is engaging in some cost-cutting measures. Home Depot will close three stores and terminate 1,000 employees.
According to RISNews, Home Depot’s job cuts will mostly be on the corporate side of the business, with HR, finance, real estate and construction positions being eliminated in an effort to consolidate operations. Less than 1% of Home Depot’s...
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Positive Guidance Crosses Verticals
Periodically, Retailer Daily examines the financial statements of public retailers to determine what types of trends are developing among those who choose to issue public guidance on their expectations for future earnings and other activities. Reviewing public retailers covered by Retailer Daily from October – December 2009, a few observable trends become clear.
Retailer Optimism...Continue Reading »
Retailers Send Mixed Signals on U.S./Canadian Store Closings
Although U.S. and Canadian retailer store closings did not reach the levels many experts predicted in 2009, as many as 6,000-8,000 stores could close in the first half of 2010. According to RIS News, the cost-cutting that allowed retailers to keep stores open in 2009 will not be enough to sustain current store levels next year.
Retailers will need a positive holiday shopping season this year...
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‘The Daily Wrap’: Sears, Brookstone, TJX
“The Daily Wrap” offers a roundup of the day’s biggest retail industry headlines. Following are some news items you may be interested in checking out.
Sears Introduces New Rewards Program
Broadline retailer Sears Holding Corporation is introducing a new customer rewards program called “Shop Your Way” at its Sears and Kmart locations. Shop Your Way allows customers to earn rewards...
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