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Retailers report surprisingly solid January sales
The Associated Press via ABC News    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Major retailers are reporting surprisingly solid January revenue gains despite snowstorms that many feared would chill spending. The reports offer encouraging signs that strength in consumer spending is being sustained after a robust holiday season. As merchants reported their figures, many retailers, including Costco Wholesale Corp, Victoria's Secret parent Limited Brands and teen retailer Wet Seal Inc., posted gains that beat Wall Street expectations. More



Upcoming PRSM webinar
PRSM    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Join us for a webinar on Prolonging the Performance of Finished Concrete Floors on Wednesday, Feb 16, from 2 p.m. - 3 p.m. (Central). By attending this webinar you will walk away with the valuable tools and skills necessary to ensure a finished concrete flooring project performs to the highest measure - from the first floor assessment to regular maintenance and cleaning of the finished floor. You will also learn how to "read a concrete floor" before project work ever begins. More

Supermarket News Top 75 Retailers for 2011
Supermarket News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Sales among the Top 75 food retailers in North America recovered from a slump in 2009, rising 7.7 percent during 2010, compared with a cumulative drop of 0.2 percent a year ago. Total revenues, encompassing sales of food and nonfood merchandise, totaled $960.3 billion last year, compared with $891.4 billion in 2009. Revenues among the 10 largest companies on the list rose 2.2 percent to $666.1 billion in 2010, with only two of the 10 — Supervalu and Delhaize — losing momentum from one year to the next. More

Wal-Mart Canada to open 40 supercenters
CBC News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Wal-Mart Canada plans to open 40 new supercenters in the coming fiscal year, a move the company says could generate more than 9,200 store and construction jobs. The retail giant says it will open the new Canadian supercenters — which combine groceries and general merchandise under one roof — in its upcoming fiscal year starting Feb. 1. More

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7-Eleven to open 100 green stores in Japan
The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
At the 7-Eleven across from the Shusse Inari shrine in Kyoto, Japan, the glare of fluorescent light bulbs that is synonymous with convenience stores has been replaced by the soft glow of light-emitting diodes, or LEDs, that consume half the energy and last much longer. The store is the prototype of the latest eco-friendly 7-Eleven, one of 100 that will be open in Japan by the end of the month. More

JC Penney closing some stores; Ackman on board
The Associated Press via Yahoo News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
J.C. Penney Co. is closing some stores, outlets and call center locations and continuing to work on an exit from its catalog business in an effort to streamline operations and boost profits. The department store operator also said that Vornado Realty Trust Chairman Steven Roth and activist investor William Ackman will become board members. Penney's enacted a "poison pill" in October after both Ackman and Vornado took large stakes in the company. More

Investing in the US retail invasion
The Globe and Mail    Share    Share on FacebookTwitterShare on LinkedinE-mail article
It's no mystery why U.S. retailers are expanding into Canada. The economy is relatively strong, consumers are in relatively good shape (despite nagging debt levels), and our retail space is still relatively new territory for all but a handful of U.S. store operators. Canada offers these retailers a nearby market where there's room to grow — something that's become harder to accomplish within the confines of the crowded and economically strapped U.S. market. More



Abercrombie, teen retail chains halting monthly
same-store sales reports

Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Teen retailers Abercrombie & Fitch Co., Aeropostale Inc. and American Eagle Outfitters Inc. will stop reporting monthly sales, which may make it harder for investors to evaluate the companies. "The more information the better," said Michael Baron, an analyst for Baron Capital Inc. in New York. "More information helps us determine the true value of the company." More

Retailers offer financial services to 'unbanked'
The Washington Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Kmart has begun testing check cashing, money transfers and prepaid cards in stores in Illinois, California and Puerto Rico, with plans to roll out the services nationally later this year. Best Buy has installed kiosks in its stores for shoppers to pay utility, cable and phone bills. Wal-Mart has opened roughly 1,500 MoneyCenters that process as many as 5 million transactions each week. More

Intel, Kohl's top EPA Green Power list with billion-kWh buys
Green Biz    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The latest list of the U.S. Environmental Protection Agency's top Green Power Partnership organizations shows a few other shakeups since October, when the EPA handed out Green Power Leadership Awards. Intel retains its number-one spot on the list, which ranks the top 50 companies and organizations based on how much renewable-based electricity they purchase. Kohl's retained its second-place position by upping its purchases by 50 million kWh, keeping its purchases at 100 percent of its electricity use. More



Perry Ellis acquires Rafaella Apparel Group
South Florida Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail
article
Perry Ellis International completed its previously announced acquisition of Rafaella Apparel Group for $80 million, including about $20 million of working capital in addition to warrants to purchase 106,564 shares of common stock issued to Rafaella. More

BJ's Wholesale Club considering selling company
The Associated Press via ABC News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Warehouse club operator BJ's Wholesale Club Inc. said it is considering selling itself after months of buyout speculation. The company based in Natick, Mass., said that it is evaluating its strategic options and has hired Morgan Stanley & Co. as its financial adviser. More

Tanger/RioCan joint venture to build outlet centers for Canadians
Retail Traffic Magazine    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A planned joint venture between U.S. retail REIT Tanger Factory Outlet Centers and Canadian RioCan REIT will seek to capitalize on two major trends among North American real estate developers: the increasing popularity of outlet centers and the push to expand internationally. The venture, if successful, might also become an instrument facilitating U.S. retailer expansion into Canada, industry sources say. More



Darden considering expanding to colleges, airports
The Associated Press via The Miami Herald    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Orlando, Fla.-based owner of the Red Lobster and Olive Garden restaurant brands is considering expansion to college campuses and airports. Darden Restaurants executives announced their "nontraditional opportunities" idea during their annual investor-analyst conference. No timetable has been set for the possible future expansion. More

Safeway to open 6 new stores in California's Bay Area
The Oakland Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Safeway Inc. will combat an aggressive crop of rivals with an expansion that includes nine new stores in the West — of which six will be in the Bay Area, the Pleasanton, Calif.-based retailer said. Pleasanton, Castro Valley, El Cerrito, Campbell, Los Gatos and Burlingame are the cities where Safeway plans to revamp or open stores this year, said Karl Schroeder, president of Safeway's Northern California Division. "We are not just in a defensive stance," Schroeder said. "We also are going on offense in terms of building our business and building our market share." More
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