Archives » February 2010

‘The Daily Wrap:’ Safeway, Gap, Wal-Mart

Published on February 26, 2010
Safeway Reports $1.6B Net Loss Supermarket retailer Safeway reported a Q4 fiscal 2009 net loss of $1.6 billion. Safeway also reported quarterly declines in total sales and gross profit. Source: Safeway Inc. Gap Eyes Italy Department store retailer Gap Inc. plans to enter the Italian market in 2010 with flagship Gap and Banana Republic Stores in Milan. Gap intends to open further stores...
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‘The Daily Wrap:’ Starbucks, Wal-Mart Canada, Tim Hortons

Published on February 25, 2010
Starbucks to Expand in UK Service Stations Coffee retailer Starbucks will open stores in UK service stations in a partnership with UK service station operator Welcome Break. Starbucks plans to open 29 service station outlets in the next 16 months, with the first two scheduled to open by the beginning of April 2010. Source: Marketing Magazine Wal-Mart Canada Plans 35-40 New...
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Target Ends 2009 on High Note

Published on February 25, 2010
Following a difficult first half of fiscal 2009 (ended January 31, 2010), Target turned things around and built on a successful third quarter with strong fourth quarter and full-year results. Selected highlights and analysis follow.Net Earnings Stay the Course During Q3 2009, Target’s net earnings jumped 18.1%. In Q4 2009, net earnings rose an impressive 53.7%, from $609 million to...
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Blockbuster Closes 374 Stores During 2009

Published on February 25, 2010
Media entertainment retailer Blockbuster, Inc. closed 374 stores during fiscal 2009, including 140 domestic company-owned stores in Q4. Analysis of what was a very challenging fiscal year and fourth quarter for Blockbuster follows.Comparable Store Sales Drag Down Revenues As it did in Q3 fiscal 2009, Blockbuster cited significant declines in same-store sales as driving lower revenues in...
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Consumers Prefer Major Credit Cards for Online Purchases

Published on February 25, 2010
U.S. consumers favor major credit cards for online purchases by a wide margin, but debit cards are growing in popularity, according to a recent study by Javelin Strategy & Research.Seven in 10 Consumers Use Major Credit Cards Online "Online Retail Payments Forecast 2010-2014" indicates that 70% of U.S. consumers used a major credit card to make an online purchase during 2009. The only...
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‘The Daily Wrap:’ Toys R Us, Wal-Mart, Wegmans

Published on February 24, 2010
Toys R Us Expands In-store Layaway Toy retailer Toys R Us will expand its in-store layaway program due to customer demand. Toys R Us, which initially launched a layaway program in fall 2009 for the holiday season, will extend the duration and scope of in-store layaway to cover products for the upcoming summer months. Source: Toys R Us Inc. Wal-Mart Names New Regional Latin America...
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Sears Closes 62 Stores in ‘09

Published on February 24, 2010
Broadline retailer Sears Holding Company closed 62 [pdf] underperforming stores during fiscal 2009, with 32 closures announced in the fourth quarter and 22 of those shutting their doors in Q1 and Q2 fiscal 2010. Other highlights from Sears’ Q4 and fiscal year 2009 (ended January 31, 2010) follow.Consolidated Revenues and Comp Sales Fall Again As occurred in Q2 and Q3 fiscal 2009,...
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Retailers with Low Ops Costs Share Characteristics

Published on February 24, 2010
Retailers with store operational and selling, general and administrative (SG&A) costs below the industry media share key characteristics. A new benchmarking study from Deloitte indicates that retailers which keep these costs down differ from their peers in five crucial ways.Characteristics of Retailers with Low Operational Costs
Deloitte: Ad Spend
Diverse advertising mix. The low-cost...
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The North Face Sends Texts to Users Near Stores

Published on February 24, 2010
Vertical outdoor retailer The North Face is taking advantage of geo-targeting capabilities on mobile devices to send text messages to potential customers whenever they are near a store that carries North Face gear. The campaign is based in and around New York, San Francisco, Seattle and Boston, and text alerts are sent only to those who have opted in to receive such messages, reports The...
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Online Shoppers Rely on Search Engines

Published on February 24, 2010
Ninety-four percent of online shoppers conduct research prior to making a purchase and 61% of online shoppers always or often use search engines, according to the Compete Online Shopper Intelligence Study.Search Engine Usage Varies by Product Although overall search engine usage by online shoppers is high, it varies greatly depending on what type of product is being bought. For example,...
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