Nov. 16, 2010 at 11:44 a.m.
Filed under:
Retail
By Emily Bryson York
With Thanksgiving just a week away, it’s starting to look like a lot like Christmas. The Cook County Building turned on red and green lights in its lobby, and Starbucks has broken out red cups, peppermint mochas and gingerbread lattes.
Customers in Chicago, New York and Los Angeles are getting a little something extra today — a hand with holiday cards. Starbucks is sponsoring photo booths until 5 p.m. today where customers can line up for a free personalized holiday postcard, with a buy-one-get-one-free offer for friends and family.
Starbucks’ holiday pushes are particularly significant for the coffee chain’s business, as it identifies its sales more closely with retail, rather than the fast food industry. Many of the chain’s stores are also located at or near malls, and holiday traffic has often been a boon for the chain. Get the full story »
Nov. 16, 2010 at 11:31 a.m.
Filed under:
Investing,
Retail
From Bloomberg | Indianapolis-based Simon Property Group Inc., the U.S. shopping-mall owner that paid $2.3 billion this year for an outlet-center business, has plenty of capital for more purchases, CEO David Simon said.
Nov. 16, 2010 at 10:44 a.m.
Filed under:
Retail,
Stock activity
By Reuters
A Wal-Mart employee stocks the shelves in Pompano Beach, Fla. (Joe Raedle/Getty Images)
Wal-Mart Stores expects U.S. same-store sales to rise during the holiday shopping season, when it hopes to lure its low- to middle-income customers with discounts on toys and electronics and free shipping for online orders.
The world’s largest retailer also posted higher quarterly profit Tuesday, buoyed by cost cuts and growth in international sales, and raised its full-year forecast. Get the full story »
Nov. 16, 2010 at 9:48 a.m.
Filed under:
Bankruptcy,
IPOs,
Retail
By Reuters
General Growth Properties Inc. priced 135 million shares at $14.75 per share on Monday, as part of a plan to raise $1.99 billion to repay investors who helped finance the No. 2 U.S. mall owner’s exit from bankruptcy. Get the full story »
Nov. 16, 2010 at 8:52 a.m.
Filed under:
Cell phones,
Consumer news,
Retail
By Wailin Wong
Target has joined a list of major retailers offering discounts and perks to consumers who use a mobile app called Shopkick. The iPhone app allows users to collect points called “kickbucks” for checking into stores, scanning products and participating in special promotions. The points can be redeemed for gift cards at the retailers and other items such as music downloads. Get the full story »
Nov. 16, 2010 at 8:27 a.m.
Filed under:
Cell phones,
Consumer news,
Retail,
Wireless
By Wailin Wong
Riverwoods-based Discover Financial Services is working with a new joint venture, created by three national wireless carriers, to develop a national network for payments via mobile phones.
AT&T Mobility, T-Mobile USA and Verizon Wireless announced the joint venture, called Isis, on Tuesday. The group named Michael Abbott, a former executive at GE Capital, as its CEO. Get the full story »
Nov. 16, 2010 at 6:57 a.m.
Filed under:
Earnings,
Economy,
Retail
By Associated Press
Wal-Mart Stores Inc. reported a 9.3 percent increase in third-quarter net income as the world’s largest retailer benefited from cost controls and a robust international business. The company also raised its full-year profit outlook.
The improvements come despite weakness at its U.S. business. Total revenue at U.S. Walmart stores fell as fewer customers visited and spent less when they did. Revenue at stores open at least a year also fell, for the sixth quarter in a row, underscoring the challenges of its U.S. business as many customers struggle economically.
Nov. 15, 2010 at 6:00 p.m.
Filed under:
Bankruptcy,
Retail
By Associated Press
U.S. discount retailer Loehmann’s is filing for bankruptcy after its Dubai government-linked owner failed to reach a debt-extension deal with creditors.
Nov. 15, 2010 at 5:47 p.m.
Filed under:
Internet,
Retail,
Stock activity
By Reuters
Amazon.com shares tumbled as much as 4 percent Monday on concerns that offers of free shipping by Wal-Mart Stores Inc and other retailers could challenge the online company’s results. Get the full story »
Nov. 15, 2010 at 5:15 p.m.
Filed under:
Management,
Retail
By Dow Jones Newswires
Legg Mason Capital Management Inc. sold its remaining position in retailer Sears Holdings Corp. during the third quarter, according to a Monday filing with the Securities and Exchange Commission, ending the ownership of erstwhile Sears believer Bill Miller. Get the full story »
Nov. 15, 2010 at 7:41 a.m.
Filed under:
Economy,
Retail
By Reuters
Sales at U.S. retailers rose more than expected in October to post their largest gain in seven months, boosted by purchases of motor vehicles and building materials, according to a government report on Monday that was further evidence the economy was regaining strength.
The Commerce Department said total retail sales increased 1.2 percent, the biggest rise since March, after advancing by an upwardly revised 0.7 percent in September. Get the full story »
Nov. 15, 2010 at 5:42 a.m.
Filed under:
Credit Cards,
Retail
By Associated Press
They can tempt customers with discounts and short-term low interest rates, but a New York congressman is warning people to stay away from store credit cards as the holiday shopping season gets underway.
U.S. Rep. Anthony Weiner released a study Sunday that shows some store credit cards have interest rates that are substantially higher than regular credit cards. Get the full story »
Nov. 12, 2010 at 5:25 p.m.
Filed under:
Internet,
Jobs/employment,
Retail
By Reuters
Amazon.com Inc. said Friday that it is hiring more than 15,500 people to fill temporary holiday jobs at shipping centers around the country, more than it hired last year.
The online retail giant said in news releases that it will hire more than 5,000 people in Phoenix and Goodyear, Ariz., and 4,000 in Pennsylvania at locations including Allentown, Hazleton and Lewisberry. Get the full story »
Nov. 12, 2010 at 9:50 a.m.
Filed under:
Earnings,
Retail
By Reuters
Discounting boosted quarterly sales at J.C. Penney Co.’s department stores but ate into margins, raising concerns about the company’s approach to win market share from rivals.
The retailer is under pressure to show it can grow after activist investor William Ackman took a 16.5 percent stake last month and said he would discuss how to improve the company’s performance. Penney adopted an anti-takeover “poison pill” soon after. Get the full story »
Nov. 11, 2010 at 2:25 p.m.
Filed under:
Commercial real estate,
Real estate,
Retail
By Reuters
Kohl’s Corp. is set to open more new stores in 2011 than it originally planned, citing more favorable conditions and availability in the commercial real estate market.
The mid-tier U.S. department store operator, which operates 1,089 stores, had planned to open 30 new stores next year but now intends to open 40, Chief Financial Officer Wes McDonald said on a call with analysts. Get the full story »
