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The Press Association via Google News Share     Retail sales bounced unexpectedly higher in May as shoppers splashed out on televisions before the World Cup, official figures show. Consumers put looming tax hikes and recession gloom to one side to gear up for the football festival as sales volumes jumped 0.6 percent during the month, the Office for National Statistics said. More
Burlington Coat Factory sees strong first quarter Retailing Today Share
Burlington Coat Factory reported that it experienced a 3.3 percent increase in comparative-store sales during the first quarter ended May 1. Net sales for the first quarter were $894.7 million compared with $830 million for the comparative period ended May 2, 2009, a 7.8 percent increase. Net income amounted to $5.2 million for the first quarter ended May 1 compared with a net loss of $36.9 million for the comparative period ended May 2, 2009. More Podcast: Putting carbon to work in retail operations PRSM Share
Listen to this podcast provided by PRSM's Sustainable Retail Environments explaining what carbon means to a retail facility manager and how it is being put to work for large retail brands today.
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JoS. A. Bank on track to open 30 to 40 new stores The Associated Press via Bloomberg BusinessWeek Share
JoS. A. Bank Clothiers Inc. said its on track to open 30 to 40 new stores in fiscal 2010. The men's clothier said that it will have opened its 12th store this year. "After the slow-down in new store openings in fiscal year 2009, we are very pleased to return to our more accelerated store opening pace in fiscal year 2010," said President and CEO R. Neal Black. More
Be prepared for the next crisis and disaster PRSM Share
Floods, tornadoes, and now hurricane season. Are you and your organization prepared?
Join us for this upcoming webinar on June 24.
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Limited Brands sells remaining stake in Limited Stores Business First of Columbus Share
Limited Brands Inc. has severed its last ownership ties to the chain that started it all. The Columbus, Ohio-based retailer sold its remaining 25 percent ownership stake in Limited Stores LLC for $32 million to Boca Raton, Fla.-based Sun Capital Partners Inc., the private equity firm that took a 75 percent controlling interest in the women's apparel chain in 2007. More
Join Us for PRSM LIVE Events in a city near you PRSM Share
PRSM LIVE events bring PRSM members together over lunch or cocktails to connect and engage in conversation relating to the issues, challenges and happenings in the facilities management industry and your life!
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Amid missteps, US retailers eye more assortment cuts Reuters Share
U.S. retailers strive for the perfect mix of products that will boost sales and keep costs down — but the experience of some, including Wal-Mart Stores Inc., in pruning merchandise shows that getting the recipe just right, can be tricky business. More than 40 percent of retailers reduced the number of different items, or SKUs, on their shelves in 2009 and nearly the same number expect to make additional cuts, according to a survey released by the Nielsen Co. More
Office Depot sees international profit growth The Associated Press via Yaoo! Finance Share
Office Depot Inc. affirmed that it expects operating profit for its international division will rise in 2010 over last year's results. The office supply retailer also said in a regulatory filing that overseas operating profit should be higher in the first half of this year than in the same period in 2009. In April, Office Depot reported first-quarter results that missed Wall Street expectations and forecast an operating loss in the second quarter. The company has been undergoing a restructuring as it deals with weak sales in the U.S., brought on by the recession. More New A.T. Kearney Global Retail study finds increased management presence in stores increases performance A.T. Kearney Share
A new study by management consulting firm A.T. Kearney, the Achieving Excellence in Retail Operations (AERO) Study, shows that when field and regional managers spend more than 75 percent of their time in the stores employee turnover falls by 10 percent and stores are more likely to conform to initiatives. The study also found that 88 percent of leading retailers pilot more than 50 percent of their new initiatives, and that these leaders pilot for a much shorter duration than other retailers (typically a short burst of four weeks). More
Williams-Sonoma sees permanent change in consumer behavior Home Accents Today Share
Williams-Sonoma Inc. believes the recession has recalibrated consumer attitudes about how they shop, and the company is repositioning the pricing of key merchandise categories and items. "Above all, we believe the consumer's focus on price and value will endure long after the economy begins to recover," EVP and chief marketing officer Pat Connolly told attendees at the William Blair 30th Annual Growth Stock Conference. More
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