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Best Buy to open 24-hour store in N.Y.
Minneapolis / St. Paul Business Journal    Share   Share on FacebookTwitterShare on
LinkedinE-mail article
"The city that never sleeps" is getting the country's first 24-hour Best Buy retail store. Best Buy Co. Inc. plans to open a new store in New York City's Union Square. The new format will "provide a much-needed resource for the downtown Manhattan community, including students from nearby universities and many New Yorkers who often have conflicting schedules with traditional store hours," according to a press release from the Richfield-based retailer. MORE

Gap to return to TV ads, open first store in China
MarketWatch    Share   Share on FacebookTwitterShare on LinkedinE-mail article
To boost its lagging market share and declining sales, No. 1 U.S. clothing chain Gap Inc. will return its namesake brand to television advertising in November after a two-year absence, one of a number of initiatives it's presenting to analysts and investors. More
Fed: Banks need customer OK to pay debit card, ATM overdrafts
USA Today    Share   Share on FacebookTwitterShare on LinkedinE-mail article
The Federal Reserve said it plans to release a rule in the next month that requires banks to get consumers' permission to charge a fee for paying certain transactions that overdraw their account. At a hearing before the Senate Banking Committee, Federal Reserve Governor Daniel Tarullo said that the new regulation would allow a consumer "to know that he or she was opting into a program like this." More
Microsoft seeks to take a bite out of Apple with new stores
The Wall Street Journal    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Microsoft Corp. has been hyping its new Windows 7 operating system, which goes on sale next week, but the company is also planning to quietly take the wraps off another big gamble: its first retail stores. The software maker is putting the finishing touches on a store in Scottsdale, Ariz., and expects to open it for business on or within days of the launch of the new operating system, according to a person familiar with the matter. More
Survey: Green, lean retailers attract more grocery shoppers
Reuters    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Grocery shopping is going green, with a global survey showing the majority of people would go out of their way to shop at an environmentally friendly supermarket and buy locally produced food. Market research firm Synovate asked more than 6,700 people to detail their grocery shopping habits. Sixty-two percent of respondents said they would specifically go to a supermarket because of its environmental policies, with Russians and Malaysians the most keen. More

More retailers turn to Twitter for marketing this holiday
The DMNews    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Twitter will play a larger role in retailers' marketing plans this year than in the past, and not only because the social site is much more prominent than it was last year. "This is definitely the first big holiday season for retailers on Twitter," said David Berkowitz, senior director of emerging media and innovation at 360i. However, because most retailers are still relatively new to the social media tool, they will likely be limited to unpromoted tests, he added. More
Macy's cuts GHG emissions, transportation costs
Environmental Leader    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Macy's and Schneider National have achieved significant green benefits including the reduction of greenhouse gas (GHG) emissions and cost savings by using a new system to keep trucks from traveling empty, according to a case study. The study found that Schneider National eliminated 61.65 tons of carbon dioxide, 147.24 tons of particulate matter and 1.47 tons of nitrous oxide while saving 5,554 gallons of diesel fuel. More
The plot thickens: Barnes & Noble teams with Google Android for eReader
PC World    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Pictures have emerged of what is allegedly the Barnes & Noble eReader device slated to be available next month in time for the holiday season. Barnes & Noble's entry into the eReader fray adds another major player to the mix-- and one that has its own book distribution to compete with Amazon and the Kindle. Reliable details about the upcoming device are scarce, but there is no shortage of speculation about what Barnes & Noble will bring to the mix. The as-yet un-named device will be built on the Google Android operating system. It will have wireless connectivity. It will have a touch screen. It will cost less than a comparable Amazon Kindle. Well...maybe. More
Instant view: Retail sales fall less than expected
Reuters    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Sales at U.S. retailers fell in September, hurt by a slump in motor vehicle purchases as government-sponsored incentives ended, but the decline was less than expected, according to a government report. More

Burberry 2Q total sales slow; retail grows strongly
Dow Jones Newswires via The Wall Street Journal    Share   Share on FacebookTwitterShare on LinkedinE-mail article
The iconic fashion company, famous for its red, black and camel colored check design, said sales fell 5 percent in the second quarter when the effect of currency is stripped out, after a fall of 4 percent in the first quarter of the year. The effects of the recession were reflected most starkly in the company's wholesale revenues which fell 23 percent when the effects of currency were stripped out, as department stores which sell the group's ranges continued to destock in an effort to keep costs down and Burberry also closed some of its ranges or smaller accounts. More
Disney's retail plan is a theme park in its stores
The New York Times    Share   Share on FacebookTwitterShare on LinkedinE-mail article
At a time when many retailers are still cutting back or approaching strategic shifts with extreme caution, Disney is going the other way, getting more aggressive and putting into motion an expensive and ambitious floor-to-ceiling reboot of its 340 stores in the United States and Europe — as well as opening new ones, including a potential flagship in Times Square. More
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