Weekly Retail News Recap August 14, 2010
WEEKLY RETAIL RECAP
- Story of the Week: Barnes & Noble unable to reach settlement with Burkle
Barnes & Noble said Thursday it has not reached a settlement with billionaire investor Ron Burkle’s Yucaipa Cos.
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- Report: July total U.S. retail sales mixed
A report released Thursday by MasterCard Advisors found that July total retail sales edged up, but not as much as in June.
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- Gap to expand e-commerce reach on global basis
Gap said Thursday that it has upped international shipping offerings on its e-commerce site to 55 countries, including Australia, Brazil and Mexico, and by year-end will make online shopping available in up to 65 countries.
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- rue21 opens 600th store
Rue21 said Thursday it has opened its 600th store, located in North Attleboro, Mass. Read More
- Kohl’s records 14% rise in Q2 profit
Kohl’s Corp. reported Thursday that profit for the second quarter ended July 31 rose to $260 million, from $229 million in the prior year.
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- Casey’s continues to fight takeover, sends letter to shareholders
In its continuing fight against takeover, Casey’s General Stores president and CEO Robert J. Myers has sent a letter to shareholders urging them to reject moves being made by Canadian c-store operator Alimentation Couche-Tard to acquire the company.
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- Cache profit edges up in Q2
Specialty women’s apparel retailer Cache reported Thursday that profit for the quarter ended July 3 edged up to $897,000, compared with $845,000 in the year-ago period.
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- Report: Card spending up in July
A report released Wednesday by First Data Corp. found that after three consecutive months of decelerating growth, July 2010 card spending growth increased.
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- Arden Group’s net income slips in Q2
Arden Group, parent of Southern California supermarket chain Gelson’s Markets, reported Wednesday that it earned $4 million in the second quarter ended July 3, compared with earnings of $4.7 million in the year-ago period.
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- J.C. Penney headquarters is LEED Gold
J.C. Penney Co.’s corporate headquarters in Plano, Texas, has been awarded LEED (Leadership in Energy and Environmental Design) Gold certification by the U.S. Green Building Council.
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- American Apparel will miss filing deadline
American Apparel has informed the Securities and Exchange Commission that it will miss its filing deadline.
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- Pop-Tarts opens Times Square pop-up
The Pop-Tarts brand has opened its first retail store, a temporary location just off Manhattan’s Times Square.
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- Macy’s Q2 profit soars, ups outlook
Macy’s net income surged in the second quarter as the chain saw a payoff from its focus on exclusive moderately priced fashions and tailoring its assortments to local markets.
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- Report: E-commerce spending up 9%
A report released Tuesday by digital marketing firm comScore found that U.S. retail e-commerce sales estimates are up 9% for second quarter 2010.
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- Blockbuster adds video games to by-mail subscription program
Blockbuster said Tuesday it is adding video games to its DVD-by-mail and Total Access mail subscription programs in an attempt to be more competitive.
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- Edwin Watts acquires Double Eagle Golf
Edwin Watts Golf Shops said Monday it has acquired Double Eagle Golf in Cordova, Tenn.
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- Piperlime launches pop-up in NYC
The Gap-owned online accessories retailer Piperlime said Tuesday it will open its first pop-up store in the SoHo neighborhood of New York City.
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- Lenders take control of stalled Xanadu project
The controversial and long-delayed Xanadu entertainment and retail complex in the Meadowlands Sports Complex in East Rutherford, N.J., may have yet another chance at revival.
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- GNC Q2 profit leaps 42.5%
General Nutrition Centers reported Tuesday that net income for the second quarter ended June 30 was $25.6 million, compared with net income of $18 million for the year-ago period.
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- Fossil Q2 profit more than triples
Fossil said Tuesday its second-quarter profit more than tripled, smashing analysts’ expectations, as the watch and fashion-accessories retailer posted record results on big sales gains.
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- Casey’s General Stores completes private placement worth $569 million
As part of its ongoing battle to fend off acquisition by Canadian convenience-store operator Alimentation Couche-Tard, Casey’s General Stores said Tuesday it has completed a private placement for $569 million of 5.22% senior unsecured notes due 2020.
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- HomeGoods to open its first Manhattan store
Winick Realty Group announced that HomeGoods has signed on for its first Manhattan location.
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- Santa Monica Place opens
Macerich, one of the nation’s leading owners, operators and developers of regional shopping centers, on Friday opened the new Santa Monica Place, 524,000-sq.-ft., three-level, open-air retail and dining destination that is located just two blocks from the beach.
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- Men’s Wearhouse expands into U.K. with acquisition
The Men’s Wearhouse has acquired Dimensions Clothing Ltd. and certain assets of Alexandra plc, two leading providers of corporate clothing uniforms and workwear in the United Kingdom.
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- Big 5 Sporting Goods Q2 earnings flat
Big 5 Sporting Goods Corp. reported second-quarter sales and earnings growth roughly flat with the year-ago period, as a sluggish economy and unseasonably cool weather in many of the its markets curbed shoppers’ spending.
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- Dress Barn Q4 sales leap 78% with Justice addition
Dress Barn reported late Thursday that revenue for the quarter ended July 24 surged 78% with the inclusion of retailer Justice, which Dress Barn acquired in November as part of its purchase of Tween Brands.
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- NRF: 2010 retail container traffic expected to be up 15%
A report released late Thursday by the National Retail Federation and Hackett Associates said that import cargo volume at the nation’s major retail container ports is expected to total 14.5 million containers for 2010.
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