Dollar Tree Shares Hit Year-high After Brighter Forecast
Dollar Tree Inc. shares touched a new year-high this week after the retailer posted a higher quarterly profit and raised its forecast for the year, buoyed by shoppers who headed to its stores for rock-bottom prices. Shares of the retailer, which sells most of its merchandise for $1, were up 3.6 percent to $46.00 on the New York Stock Exchange, topping its previous 12-month high of $45.33 set on March 31. More
Wal-Mart Wants in on the Used Games Biz, Too
GameStop has been the only major player in the used video game business for at least five years—but that all changed in 2009. In Q1 alone, Best Buy , Amazon.com and Toys R Us have staked their claim to a piece of what has become a billion-dollar industry, and now Wal-Mart is joining the pile-up. More
Charming Shoppes 'Ferociously' Works on Rent Breaks
Executives at Charming Shoppes, the parent company of Lane Bryant and other women's plus-sized chains, are zeroing in on getting rent reductions from landlords after closing 162 stores over the last year. So far, they said, it's working. More
Retail Sales Rise in Week
from United Press International
Retail sales in the United States rose in the week ending May 23, the International Council of Shopping Centers-USB reported. Sales were up 0.8 percent in the week and 0.5 percent compared to the same week a year ago, the report said. More
Big Lots Takes Quantum Leap Into Upscale Neighborhood
from The Wall Street Journal
In its biggest image-changing effort yet, Big Lots Inc. has opened a store in an upscale area to appeal to higher-end consumers chaffed by the recession. The company took a former Linens N' Things in a relatively affluent part of Columbus, Ohio, and is offering merchandise similar to that of its regular stores, but with edgier presentations, better lighting, wider aisles, greater in-store systems to communicate with customers and other tweaks. More
Economy Isn't Slowing Apple's Building Plans
from USA Today
Apple isn't letting the recession slow its retail ambitions. The company said that it plans to remodel 100 of its stores this year, to make more room for customer training and displayed products. Additionally, it will open 25 new stores, including a fourth location in New York City, and new ones in Paris, Italy and Germany. More
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In the Land of Dead Shopping Malls: Smart Solutions for a Retail Apocalypse
from The Infrastructurist
Malls are being mauled. In case you’ve been paying closer attention to Wall Street or the housing market lately, rest assured that America’s once-bustling shopping meccas are doing just as poorly. It’s fair to assume to that these vacant structures are now done forever–at least as old-school malls. But rather than letting these massive properties become gaping holes in the fabric of our communities, it’s time find ways to reimagine them as vital, forward-looking redevelopment projects. More
Toys R Us Acquires High-end Retailer FAO Schwarz
from USA Today
Toys R Us. Inc. announced that it had bought troubled high-end retailer FAO Schwarz, which has struggled for years through bankruptcies amid tough competition from discount stores. Toys R Us will operate FAO Schwarz's flagship store in New York City and a second store at Caesars Palace in Las Vegas. FAO Schwarz's website and catalog will continue to use the company's name. More
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Temporary Leases Please U.S. Malls and Retailers
Small, nimble retailers are taking advantage of the recession and larger rivals' woes as they move into abandoned U.S. store fronts with short-term leases negotiated at a discount. The strategy is growing in the current downturn, retailers and real estate professionals say, an attractive option for landlords in secondary shopping centers trying to fill vacant storefronts and retailers previously denied those locations. More
Walgreens to Open Fourth Hawaii Store
from Pacific Business News
Walgreens will open its fourth Hawaii location in Kailua. The store is the second Walgreens in Windward Oahu. The first Windward store opened in Kaneohe last November. Walgreens said the Kailua location is smaller than a typical full-service store and that it plans to add a drive-through pharmacy in the future. More
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