Ulta Salon, Cosmetics & Fragrance Inc. said Thursday that revenue at stores open at least a year surged 9.5 percent for its seven-week holiday period. The strong performance prompted the beauty retailer to boost its fiscal fourth-quarter earnings and revenue outlooks. Its stock jumped $1.60, or 4.6 percent, to $36.12 in morning trading. Get the full story »
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Shoppers won’t lose energy in 2011, economists say
Shoppers’ holiday-season splurge was likely a preview of what’s to come in 2011, and economists say it should embolden companies to expand and hire.
Americans spent more in the 50 days before Christmas than analysts had expected — the sharpest annual increase since 2006. It’s the surest sign yet they’re becoming less frugal as the economy rebounds.
Sears considering bid for J. Crew
Sears Holdings Corp. and Urban Outfitters Inc. are examining the financial books of J. Crew Group Inc. in consideration of possible bids for the clothing retailer, a source familiar with the situation said Wednesday.
J. Crew, which also operates a website and catalog, has already agreed to be acquired by TPG Capital LP and Leonard Green & Partners LP for $2.86 billion. It can solicit other bids until Jan. 15.
Neither Sears nor Urban Outfitters has indicated whether it would submit a bid to compete with TPG and Leonard Green’s $43.50 per share offer, the source said. Get the full story »
Starbucks gives logo a new look
Starbucks new logo design. (AP)
Starbucks Corp. is giving its siren a facelift. The world’s largest coffee company is unveiling a new logo Wednesday that drops the words encircling its iconic sea nymph and gives her a few subtle updates.
Starbucks says the changes amount to more than nips and tucks to its favorite lady. The fresh look goes with a new direction for the company as it makes its way back from its toughest times in its 40-year history. Get the full story »
Non-manufacturing sector grows in December
The U.S. non-manufacturing sector grew in December at it fastest pace in more than 4 years, according to an industry report released on Wednesday. Get the full story »
Walgreen December sales rise 7.5%
Walgreen Co.’s December sales rose 7.5 percent to $6.81 billion, the biggest U.S. drugstore chain said on Wednesday. The performance was helped by Duane Reade, which made up 2.5 percentage points of the total sales increase. Walgreen purchased Duane Reade for $623 million in April 2010. Get the full story »
IKEA stops selling incandescent light bulbs in U.S.
Home decor and furniture company IKEA is no longer stocking or selling incandescent light bulbs in its U.S. stores, instead offering longer-lasting and energy-efficient bulbs.
The retailer began phasing out the sale of the light bulbs in August. IKEA’s action comes ahead of federal legislation that would mandate more efficient light bulbs starting in 2012.
The pullout also applies to IKEA stores in Canada. Stores in France and Australia started phasing out the incandescent bulbs last year. Get the full story »
Macy’s adding 725 to expand Web sites
Macy’s Inc. expects to add about 725 new positions during the next two years as it looks to expand its Web site offerings.
Shoppers have been increasingly moving their business online, and Macy’s, for its part, has seen its online sales grow in the double digits on a percentage basis over the past few years. For the first 10 months of fiscal 2010, online sales were up 29 percent. Get the full story »
Fans of Bill Ackman boost Howard Hughes shares
Since U.S. mall owner General Growth exited bankruptcy last month, its stock has gotten a nice lift. But shares of its less noticed spin-off, Howard Hughes Corp, have really soared.
Since General Growth issued about $2 billion worth of shares at $14.75 in mid-November, the mall owner’s stock price has grown more than 6 percent — trading around $15.70 on Thursday afternoon. Meanwhile, Howard Hughes’ thinly traded shares have gained nearly a third, or 32.8 percent, in roughly the same period, now trading around $54.45. Get the full story »
Dec. 26 storms delay $1 billion in retail spending
The blizzard that swept through the Northeast on Sunday and Monday delayed $1 billion in retail spending, according to research firm ShopperTrak, but won’t derail a holiday shopping season expected to be the best since 2007. Get the full story »
Groupon, CouponCabin ranked busiest deal sites
What does Chicago have that no other U.S. city has this holiday season? The top two busiest coupon Web sites.
Top ranked was Groupon, the daily deal site, with 10 million unique visitors in November, up 54 percent over the previous month, according to online research firm ComScore Inc. Second was CouponCabin, a coupon-code aggregator, with 8.8 million visitors, a 400 percent increase over October.
Coupon sites, which offer promotional codes and other discounts to consumers, ranked as the top-gaining category of Web sites at the start of the holiday season, ComScore said. A record 44 million Americans visited a coupon site during November, up 40 percent since October. Get the full story »
Sears to honor some gift cards in half-off glitch
Sears said Tuesday morning that it will honor gift cards involved in a computer glitch Sunday night if they have been activated, but had canceled those that were not processed.
On Sunday night, Sears customers got a delayed Christmas present: 50 percent off online gift cards.
Last-minute shopping cited in same-store sales gains
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index rose 1 percent in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis. Get the full story »
Disappointed with gift card? Exchange it
Gift cards continue to top the list of most requested presents this holiday season. But what if you don’t like the one you get?
You can shove it in a drawer and let it expire, adding to the $2.5 billion retailers are expected to collect in leftover gift card credit this year. Get the full story »
Holiday retail sales up more than 5%, reports show
Shopping is back in style, at least for the holiday season.
Retail sales for the holidays soared more than 5 percent, according to two reports released Monday, led by online and clothing purchases. The preliminary reports, among the first tallies of the holiday shopping season, beat the estimates of most retail economists. Get the full story »
