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Retailers' reports show tepid May for shoppers
The Associated Press via Google News    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Shoppers are still showing some scars from the recession. In a May filled with wild stock market swings, consumers gave retailers only slim revenue gains over a terrible May 2009. The second straight month of sluggishness after a surprisingly solid start to the year underscores both the fragility and choppiness of the economic recovery that will most likely persist at least through the fall. The International Council of Shopping Centers index for revenue at stores open at least a year reflected such tentative spending, rising 2.6 percent in May. The figure was in line with a reduced growth forecast that ranged anywhere from 2 percent to 2.5 percent. More



Costco scores high marks on Consumer Reports survey
ABC News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Being the biggest retailer with the largest reach doesn't guarantee a special place in customers' hearts, according to a poll Consumer Reports recently conducted of its readers to find what they thought were the best stores. Costco emerged as the readers' favorite in an 11-store field, with Dillard's coming in second. At the bottom of the list, Kmart ended up last and Wal-mart — the world's largest retailer — finished second to last. More

The retailers' dilemma
The Economist    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The mood of executives at retail firms normally moves in lockstep with that of their customers. But in America the news that consumer confidence had reached its highest level in two years left them oddly subdued. Consumer spending per person, which fell for two years in a row for the first time since the Depression last year and the year before, has been rising again in recent months. But as retail executives place orders for the crucial end-of-year rush, they are anxiously debating how strong and lasting the consumer's revival will be. More

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Johnson Controls' Energy Efficiency Indicator goes global
Greener Buildings    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Energy efficiency investments around the world have remained strong despite the global recession, commercial building executives told Johnson Controls in the company's first international energy efficiency survey. The company released results of its Energy Efficiency Indicator, which surveyed 2,800 executives and managers around the world who are responsible for making investments and managing energy at commercial properties. More

Movado exits retail
RetailWire    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Movado Group Inc., the Swiss watchmaker and jeweler, announced plans to close its money-losing retail division by the end of June. Its 27 full-price stores will be closed so the company can focus on its wholesale business selling its namesake brand as well as licensed brands such as Coach, Tommy Hilfiger and Juicy Couture to retailers such as Zales, Saks, Neiman Marcus and independent jewelers. More



7-Eleven to sell 24 sites
Convenience Store News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
7-Eleven Inc. retained Colliers International's senior vice president, Mehran Foroughi, to sell 24 retail properties anchored by 7-Eleven stores. The portfolio is valued at approximately $40 million, and is owned and operated by 7-Eleven. More

May sales jump 5.9 percent at Walgreens
Drug Store News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
One of the nation's largest drug store chains garnered $5.7 billion in sales for the month of May, a 5.9 percent increase from the year-ago period. Walgreens said that its spike in sales for the month were attributed to its acquisition of Duane Reade earlier this year, which contributed 2.9 percentage points to the total sales increase for the month. Sales in comparable stores (those open at least a year) decreased 0.2 percent, although Duane Reade stores are not included in comparable-store sales. More

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Family Dollar 3Q sales up 8.4 percent
Charlotte Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Sales at Family Dollar Stores Inc. rose 8.4 percent to $1.99 billion during its third quarter ended May 29. The Matthews-based discount retailer had sales of $1.84 billion a year earlier. Sales at stores in operation for at least a year increased 7 percent in the quarter from the prior year. More

Report: Private-equity firms bidding for RadioShack
Retailing Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Several large private-equity firms have submitted bids to acquire electronics retailer RadioShack, and competitor Best Buy Co. is said to possibly be among the interested buyers. According to a report by the New York Post, a potential bidding war for RadioShack looms, as potential bidders include Kohlberg Kravis Roberts, Bain Capital, Blackstone Group and TPG. The Post also said at least one strategic bidder is participating in the auction, possibly Best Buy. More



California Assembly passes ban on single-use grocery bags
Environmental Leader    Share    Share on FacebookTwitterShare on LinkedinE-mail
article
The state of California has taken the first step towards banning free single-use grocery bags. The state Assembly narrowly approved Assembly Bill 1998 that would make California the first state in the nation to ban single-use plastic and paper bags from being handed out at grocery stores, reports The San Francisco Chronicle. The bill now heads to the Senate for consideration. The legislation will create a statewide standard for supermarkets, chain pharmacies and other large grocery retailers beginning Jan. 1, 2012. More

Staples focuses on growing tech, services
MediaPost News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
As its core customers emerge from the recession, business is good again at Staples, allowing the company to focus on its growth plans. Ron Sargent, Staples' chairman/CEO, told investors attending the 26th Sanford Bernstein Strategic Decisions Conference, while this recession definitely hit the Framingham, Mass.-based retailer hard, he says he sees progress. More

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