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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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State of US Same-Store Sales - July 2010 and Quarterly Data Update and Full-Year Outlook
Retailer Daily has compiled comparable store sale data from the SEC filings of 26 major US retailers spanning several years, up to the most recently released July 2010 and quarterly numbers. The data excludes fuel sales and is available in Microsoft Excel format from the link below:
Indications from July 2010 and the most recent quarterly same-store sales results across several verticals...
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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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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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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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‘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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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:’ 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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