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‘The Daily Wrap:’ Burger King, Amazon, Bashas’
Burger King Said to Hold Buyout Talks With 3G Capital
Fast food retailer Burger King Holdings, Inc. is reportedly in talks with 3G Capital about a buyout. The public company could potentially improve troubled relations with its franchisees and differentiate itself from chief competitor McDonald’s by selling its business to a private equity firm. Source: Bloomberg
Amazon Plans New...
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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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eBay, Wal-Mart Receive Most Visits – Update
Online auction retailer eBay and discount retailer Wal-Mart received the most online visitors in July 2010, according to [pdf] comScore MediaMetrix data.
During July 2010, eBay received about 69.5 million unique U.S. visitors, placing it 13th among all sites and making it the most-visited site whose primary function is retailing. About 32.5% of the roughly 213.6 million unique U.S. internet...
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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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‘The Daily Wrap:’ Dunkin’ Donuts, Sears, Toys R Us
Dunkin’ Donuts Opens 338 New Stores
Dunkin’ Donuts quickened the pace of new store openings this year, with 338 net new locations unveiled worldwide during the first six months, compared with just 175 new shops during the same period last year. Source: Boston Globe
Sears Unveils Craftsman Experience
Broadline retailer Sears Holdings Corporation is opening its first interactive “Craftsman...
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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:’ Dell, Google, Rue La La
Dell Grows Revenue 22%
Online consumer electronics retailer Dell increased total company revenue 22% in Q2 fiscal 2010. Operating income grew 11%. Source: Dell Inc.
Google Acquires Like.com
Google has acquired Like.com, a visual search engine for shoppers. Terms of the deal were not disclosed. Source: Like.com
Rue La La Fashions a Niche
The first e-mail notifying Rue La La members about...
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‘The Daily Wrap:’ Target, Starbucks, Fresh & Easy
Target Grows Retail Sales 4%
Discount retailer Target Corporation increased retail sales 3.8% in Q2 fiscal 2010. Gross margin slightly grew from 31.9% to 32%. Source: Target Corporation
Starbucks Seeks More Products in Grocery Stores
Starbucks Corp. is planning to use its coffee shops as a testing ground to get more products into grocery stores, according to a growth plan Chief Executive...
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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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‘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