‘The Daily Wrap:’ Borders, Toys R Us, Best Buy

Published on May 28, 2010 | Comments: 0
Borders Net Loss Shrinks in Q1 Although book retailer Borders reported decreased sales and increased operating loss in Q1 fiscal 2010, it reduced net loss from $86 million to $64.1 million. Domestic comparable store sales fell 11.4%, compared to a 12.5% drop in Q1 fiscal 2009. Source: Borders Group, Inc. Toys R Us Files for IPO Toy retailer Toys R Us, Inc. has filed with the Securities and Exchange Commission (SEC) to launch an initial public offering (IPO) of common stock. Toys R Us expects to use the net proceeds it receives from the proposed offering primarily to pay down certain existing indebtedness, and the remaining net proceeds, if any, for general corporate purposes. Source: Toys R Us, Inc. Best Buy Enhances Mobile Site Best Buy has enhanced its m-commerce site. The newly relaunched site includes added features such as online purchasing and instant ship. Source: Best Buy Co., Inc. 99 Cents Only Tests Perishables Dollar store retailer 99 Cents Only Stores is testing the sale of milk and produce at 32 stores in Texas. The pilot will soon expand to stores in California. Source: Supermarket News Giant Eagle Launches New Loyalty Program Supermarket retailer Giant Eagle is running a new loyalty discount program known as foodperks! Under the new program, a customer who pumps 10 gallons of gas at one of Giant Eagle’s GetGo gas stations can receive 1% their total bill at a Giant Eagle grocery store. Source: The News-Herald Twitter Top Site for Movie Referrals Twitter is the top referral sites for movies, according to new TubeMogul stats provided to Mashable, leaving such sites as Facebook, Google, Yahoo and Bing far behind in terms of average monthly growth in number of streams referred and average minutes of video watched per stream. Source: Marketing Vox Will the ‘Hundreds’ of Advertisers Twitter Expects Be as Successful as the Early Adopters? Twitter is expecting hundreds of advertisers to use its recently-introduced ad platform, Promoted Tweets. Source: MediaBuyerPlanner Asda Buys UK Stores from Danish Discounter Supermarket retailer Asda, the U.K. division of Wal-Mart, is buying 193 U.K.-based locations of Danish discount retailer Netto from Dansk Supermarked. Netto has operated in the U.K. since 1990. Source: Finance Markets Bi-Lo CEO Expects Strong Performance Michael Byars, CEO of supermarket retailer Bi-Lo, which recently exited Chapter 11 bankruptcy, has publicly said he expects the chain to be stronger and more competitive. Bi-Lo is launching a new price reduction program and gasoline rewards program, among other initiatives. Source: Chattanooga Times Free Press Self-serve Regular Gas Price Down from April '10 The average price for a gallon of self-serve regular gasoline has fallen 4.2% since April 2010, according to the American Automobile Association (AAA) Fuel Gauge Report. Source: Retailer Daily Environmental Update: Staples, Green Seal Each week, Retailer Daily provides a review of notable environmental news happening in the retail industry. Articles are provided courtesy of Environmental Leader. Source: Retailer Daily

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