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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:’ B&N, Target, Wal-Mart
Barnes & Noble Digital Sales Improve
Book retailer Barnes & Noble, Inc. increased e-commerce sales by 42% in Q1 fiscal 2011. This performance helped drive a 21% increase in total sales for the quarter. Source: Barnes & Noble, Inc.
Target Launches Electronics Services
Discount retailer Target Corporation is introducing three new consumer electronics services that will provide guests with an...
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‘The Daily Wrap:’ Staples, GameStop, Dollar General
Staples Grows North American Retail Sales 2%
Office supply retailer Staples, Inc. improved Q2 fiscal 2010 North American sales 2% in US currency. Comparable store sales for the second quarter of 2010 were flat versus the second quarter of
2009, reflecting increased customer traffic, offset by lower average order size. Source: Staples, Inc.
GameStop Goes Digital
Videogame retailer GameStop has...
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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:’ Macy’s, Walgreens, Gap
Macy’s Improves Q2 Sales
Upscale department store retailer Macy’s, Inc. improved sales 7.2% during Q2 fiscal 2010. Macy’s also increased online sales 28.1% during the quarter. Source: Macy’s, Inc.
Walgreens Addresses Chicago Food Deserts
Drugstore retailer Walgreens is offering new expanded food selection in several Chicago communities identified as food deserts, or areas that lack access to...
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‘The Daily Wrap:’ Family Dollar, McDonald’s, Pizza Hut
Family Dollar Uses Ads to Retain Affluent Customers
Family Dollar, like many of its low-price discount competitors, saw a big business boom during the recession. More affluent customers flocked to their stores to save a little money. Now Family Dollar is working to keep those customers. Source: NPR
McDonald’s Enhances UK Cashless Payment
McDonald’s has signed a three-year agreement to provide...
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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: Sears, Fuddruckers, Wal-Mart
Sears Launches Digital College Program
Sears and Kmart have launched the “Campus 2010” digital program, centered around a Facebook page called “Sears Campus Connection,” which provides several features that serve as a resource for teens in preparing for campus life. Features include a wish list, social shopping, and roommate interactions. Source: Sears Holdings Corporation
Luby’s Acquires...
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