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‘The Daily Wrap:’ PetSmart, Whole Foods, Giant Eagle
PetSmart Debuts in Manhattan
Specialty pet supply retailer PetSmart is opening its first two Manhattan stores later this year. One store will open August 21, 2010 and one will open in November 2010. Source: PetSmart
Whole Foods Grows Quarterly Sales
Specialty organic supermarket retailer Whole Foods increased Q2 2010 sales 15%, to $2.2 billion. Comparable store sales increased 8.8%, or 6.3% on...
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Amex Spending & Saving Tracker Update: Back-to-School Spending Solid
The average American family will spend $550 on back-to-school items this year, according to the August 2010 American Express Spending & Saving Tracker.
Spending to Rise, But under Control
A majority (80%) of consumers with children in preschool through high school expect to spend more (39%) or the same (41%) per child on back to school shopping this year compared to last year. However, although...
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‘The Daily Wrap:’ Toys R Us, Amazon.com, Sears
Toys R Us Celebrates Christmas in July
Toy retailer Toys R Us is running a “Christmas in July” promotion from Sunday, July 18 through Saturday, July 24, 2010. Dozens of items at prices usually reserved for the holiday shopping season will be available at Toys R Us stores nationwide and online at Toysrus.com. Source: Toys R Us
Amazon Offers College Students Deal
Online retailer Amazon.com...
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‘The Daily-Wrap:’ Target, Walgreens, Kroger
Target Plans More P-Fresh Stores
Discount retailer Target plans to remodel 340 stores to fit its new “P-Fresh” grocery format this year. Target reformatted about 100 stores to P-Fresh in 2009. Source: Supermarket News
Walgreens Proceeds with Tobacco Suit
Drugstore retailer Walgreens has received permission from a California state appeals court to proceed with a lawsuit challenging a San...
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Most Couples Share Monthly Expenses
Two-thirds of U.S. couples share all monthly expenses, according to the June 2010 American Express Spending & Saving Tracker.
Younger Consumers More IndependentMost couples pay their monthly bills jointly and maintain joint ownership of various household accounts. Two-thirds (66%) of those surveyed share all monthly expenses, while the remaining 34% divide their bills each month, with methods...
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‘The Daily Wrap:’ TJX, Gap, Radio Shack
TJX Boosts Net, Comp Sales
Off-price retailer TJX Companies, Inc. reported strong results for its first quarter fiscal 2011 that included a 15% jump in net sales and 9% boost in comparable store sales. Source: The TJX Companies, Inc.
Gap Raises Guidance
Department store retailer Gap Inc. has raised its guidance for fiscal year 2010 diluted earnings per share to $1.77 to $1.82 from its previous...
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Wealthier Consumers Use More Coupons
Consumers with an income of $100,000 or more are among the most likely to use coupons, according to a new survey from digital coupon provider Coupons.com.
Six in 10 Wealthy Consumers Have Used CouponsSix out of 10 adults (61%) with a household income of $100,000 or more have redeemed a coupon in the past six months. Additionally, about four in 10 adults (39%) in this income bracket have...
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‘The Daily Wrap:’ Target, Wal-Mart, Safeway
Target Boosts Quarterly Net Earnings
Discount retailer Target reported a significant increase in net earnings during Q1 fiscal 2010. Target also increased sales and gross margin rate. Source: Target Corporation
Wal-Mart Insists on Domestic Chip and PIN
Discount retailer Wal-Mart wants to transition credit and debit card approval at its U.S. stores from signature mag-stripe to automated Chip...
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Fewer People to Spend More on Grad Gifts
Fewer people will buy graduation gifts this year than last, but average gift spending per person will rise, according to a new survey from the National Retail Federation (NRF) and BIGresearch.
Overall Spending to Remain FlatTotal spending on graduation gifts is expected to remain flat at about $3.9 billion, according to the NRF 2010 Graduation Consumer Intentions and Actions survey. The...
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Status Moves beyond Consumption
The definition of status is diversifying and moving beyond simple consumption, according to consumer insights firm trendwatching.com.
Although the need for status is at the heart of every consumer trend, in mature consumer societies (such as the US), consumers are moving beyond owning the most and/or priciest items. Status is now also tied to less tangible symbols such as acquired skills,...
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