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‘The Daily Wrap:’ Ikea, Best Buy, Johnny Rockets
Ikea Expands in China
Home furnishing retailer Ikea, which is speeding up its expansion in China, plans to open four new stores across the country during the next two years. Ikea will open its second store in Shanghai next year and open locations in Tianjin and Wuxi, as well as its second store in Beijing, in 2012. Source: China Daily
Best Buy Names Chief Design Officer
Consumer electronics...
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Store Openings and Closings Update - August 2010
A comparison of store openings and closings by leading retailers in several major verticals shows that the recession has had a varying impact on retail store growth strategies.
Discounters Slow Down Domestic Store ExpansionIn a plan issued April 2010, discount retailer Wal-Mart said it intends to grow in major metropolitan markets domestically, with new formats while making existing formats...
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Retailers Target Urban Northeast, Mid-Atlantic - Update
A look at new store openings and announcements in July 2010 shows retailers targeting states in the Northeast and Mid-Atlantic regions of the U.S., where unemployment rates are equal to or better than the national average of 9.5%, for the second straight month. Unlike June 2010, in July retailers specifically targeted urban areas of these states.
For example, discount retailer Target opened its...
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‘The Daily Wrap:’ Lowe’s, A&P, PayPal
Lowe’s Increases Net Earnings 10%
Home improvement retailer Lowe’s Companies, Inc. reported net earnings of $832 million for the quarter ended July 30, 2010, a 9.6 percent increase from the same period a year ago. Sales for the quarter increased 3.7 percent to $14.4 billion, up from $13.8 billion in the second quarter of 2009. Source: Lowe’s Companies, Inc
A&P Plans 25 Store Closures
Gasoline Fuels Retail Sales Growth - Update
According to the July 2010 Advance Monthly Retail Trade Survey from the U.S. Census Bureau, U.S. retail and food service sales rose 0.4% on a monthly basis and 5.5% on a yearly basis.
In July 2010, U.S. retail and food service sales totaled $362.7 billion, compared to $361.2 billion in June 2010 and $343.4 billion in July 2009. On a monthly basis, this reverses two straight sales decrease,...
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‘The Daily Wrap:’ Wal-Mart, Lowe’s, Amazon
Wal-Mart Plans Grocery Format in Sacramento
Wal-Mart intends to purchase a number of smaller-sized retail stores in the Sacramento, CA market and turn them into 40,000-square-foot neighborhood stores selling grocery items. The stores will directly compete with existing low-price supermarkets. Source: Sacramento Bee
Lowe’s Denied MA Store
Home improvement retailer Lowe’s has been denied...
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Guidance Looks Increasingly Sunny
Based on financial guidance provided in the most recent quarterly public filings of 10 major public retailers, the industry appears to be generally taking a positive view of its near-term prospects. Following is a brief of review of the retailers’ expectations and some general trends that can be observed.
Positive Guidance
Amazon.com: Q2 fiscal 2010 net sales are expected to be between $6.1...Continue Reading »
‘The Daily Wrap:’ AutoZone, Toys R Us, Sears
AutoZone Eyes Store Openings
Auto parts retailer AutoZone plans to open stores in major U.S. cities including Boston, Chicago and New York. AutoZone will open 140-160 new stores nationwide between August 2010 and August 2011, favoring organic growth rather than purchasing stores from a competitor. Source: Bloomberg
Toys R Us Net Sales Rise 5.3%
Toy retailer Toys R Us reported Q1 fiscal 2010...
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‘The Daily Wrap:’ Lowe’s, 7-Eleven, Wendy’s
Lowe’s Makes House Calls
Home improvement retailer Lowe’s is planning to launch a program called PSE (Project Specialist Exteriors), which will send specialists to customer homes to personally advise them on purchases for exterior products. Lowe’s has been piloting the program for several years. Source: HomeChannelNews
7-Eleven Rebrands 55 White Hens
Convenience retailer 7-Eleven is...
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‘The Daily Wrap:’ Wal-Mart, Home Depot, Target
Wal-Mart Net Sales Rise 6.1%
Wal-Mart reported Q1 fiscal 2011 (ended April 30, 2010) total company net sales of $99.1 billion USD, a 6.1% increase from Q1 fiscal 2010. Exceptionally strong performance in the international segment drove the overall increase. Source: Wal-Mart Stores, Inc.
Home Depot Expects 3.5% Sales Increase in FY10
Home improvement retailer The Home Depot is forecasting a...
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