Nov. 8, 2010 at 2:55 p.m.
Filed under:
Retail
Shoppers at a Target in Tallahassee, Fla. (AP Photo/Phil Coale/File)
By Gregory Karp | Target in recent days has apparently issued a new store policy that requires cashiers to hand-process customer coupons, following media reports that the discounter was shortchanging its customers nationwide. It promised a permanent fix within 10 days.
The mass merchandiser, with about 1,750 stores in the United States, for months has been crediting customers for only a fraction of the face value of certain manufacturer coupons. One of the biggest problems involved coupons that required purchasing multiple items.
In a Tribune story published Oct. 28 that was reprinted nationwide, a Target spokeswoman faulted the stores’ scanning machines and said the company was working on a fix. Get the full story »
Nov. 8, 2010 at 10:30 a.m.
Filed under:
Litigation,
Retail
By Associated Press
Walgreen Co. is suing the Wegmans supermarket chain, claiming the New York-based grocery’s logo is too similar to its own. Get the full story »
Nov. 8, 2010 at 9:16 a.m.
Filed under:
Food,
Packaged foods,
Retail
By Julie Wernau
(David Pierini/Chicago Tribune)
The vending machine industry is up in arms following a new report by the Food and Drug Administration that estimates the industry will need to spend 14 million hours annually to comply with new calorie disclosure laws.
The new requirements, signed into law this March under sweeping health reform legislation, require vending machine operators with 20 or more locations to provide a sign in close proximity to each food item in a vending machine to disclose the calorie count of that item before it is chosen. Get the full story »
Nov. 5, 2010 at 11:54 a.m.
Filed under:
Beverages,
Food,
Retail,
Updated
By Emily Bryson York
(Charles Osgood/Chicago Tribune)
Kraft is apparently steamed by Starbucks’ announcement that it plans to fire the company as its grocery store distributor.
On Thursday night, Kraft Foods Inc. said its agreement to supply packaged Starbucks coffee to grocery stores “is perpetual…if Starbucks decides to exit its relationship with Kraft Foods, the agreement requires Starbucks to pay Kraft Foods the fair market value of the business plus, in certain instances, a premium.”
Starbucks fired back today with a company statement saying, “We consider it unfortunate that Kraft has chosen to make public statements that we believe mischaracterize the nature of the agreement between our companies, including the term of the agreement.” The statement went on to note that the companies’ agreement contains a clause for the resolution of disputes. Both companies maintain that regardless of how their relationship is terminated, customers shouldn’t expect service interruptions.
Get the full story »
Nov. 4, 2010 at 3:49 p.m.
Filed under:
Food,
Restaurants,
Retail
By Associated Press
Starbucks says its fourth-quarter net income nearly doubled as revenue spiked, beating analyst estimates, and it raised its targets for fiscal 2011.
Nov. 4, 2010 at 11:25 a.m.
Filed under:
Chicago executives,
Pharmaceuticals,
Retail,
Updated
By Bruce Japsen
Walgreens chief executive officer Greg Wasson this morning said the drugstore chain will step up investments in services to help Americans manage chronic diseases, saying the company wants to capitalize on what he called the “retailization” of the nation’s health care system.
The Deerfield-based pharmacy giant, meeting with Wall Street analysts and investors, said it wants to continue to expand its network of medical care providers and the services they provide. Walgreens increasingly has been lobbying to give pharmacists a greater role in medical care such as providing immunizations in its stores as well as establishing retail health clinics staffed by nurse practitioners. Get the full story »
Nov. 4, 2010 at 8:12 a.m.
Filed under:
Internet,
Retail,
Telecommunications
By Associated Press
If you use Facebook to “check in” to your favorite restaurants or shops, you can now expect to see rewards and discounts from companies looking to drum up business and lure in loyal customers.
Facebook is looking to bridge online advertising with people’s offline behavior as it announced a service called “Deals.” It’s an extension of Places, the check-in feature the company unveiled this year. Rising with the explosive growth of smart phones, services based on people’s location help them find coupons, earn quirky merit badges or simply share with friends where they are. Get the full story »
Nov. 4, 2010 at 7:25 a.m.
Filed under:
Economy,
Retail
By Associated Press
Retailers are reporting solid revenue gains for October. But it took heavy discounting on coats and other cold-weather items to get shoppers to spend amid unusually warm temperatures.
Analysts are concerned about the holiday shopping season as shoppers, grappling with job worries, are likely to wait until the last minute to get the best deals.
Nov. 3, 2010 at 4:41 p.m.
Filed under:
Chicago executives,
Retail
By Associated Press
The CEO of Walgreen Co. made nearly 30 percent more in fiscal 2010 because of a boost in his performance-related bonus as the nation’s largest drugstore chain improved profits and revenue despite the down economy.
Nov. 3, 2010 at 4:14 p.m.
Filed under:
Earnings,
Economy,
Food,
Retail
By Associated Press
A Whole Foods in Santa Rosa, Ca. (John Burgess/Tribune)
Whole Foods Market Inc. more than doubled its fourth-quarter net income as sales rose, prompting the grocer to raise its full-year outlook on Wednesday.
The news sent natural and organic grocer’s shares soaring in after-hours trading.
Whole Foods, based in Austin, Texas, reported that its net income available to common shareholders rose to $57.5 million, or 33 cents per share, for the quarter that ended Sept. 26. That’s up from $28.7 million, or 20 cents per share, in the same period last year.
Nov. 3, 2010 at 1:53 p.m.
Filed under:
M&A,
Retail
By Associated Press
Casey’s General Stores Inc. said Wednesday that it has dismissed a $43 per-share takeover bid from 7-Eleven Inc. and ended negotiations with the convenience store operator.
7-Eleven made an initial bid of $40 in September, which it later raised. Casey’s said the latest offer doesn’t reflect the value of the company in ending talks with 7-Eleven. Get the full story »
Nov. 3, 2010 at 11:24 a.m.
Filed under:
Food,
Hotels,
Personnel moves,
Restaurants,
Retail,
Updated
By Emily Bryson York
McDonald’s announced today that European president Denis Hennequin will resign to become Chief Executive Officer of the Accor Hotel Group. His departure will be effective at the end of the month.
Before Don Thompson’s promotion to president and chief operating officer early this year, Hennequin was considered to be a dark horse candidate for the position, which is widely considered to be CEO-in-waiting. Jim Skinner, the current CEO, is 66.
“Denis’ leadership made a tangible difference in our key segment of Europe,” Skinner said in a statement. ”The European team’s dedication to our Plan to Win business strategy elevated the restaurant experience for our customers. We wish Denis well in his new role at Accor.” Get the full story »
Nov. 3, 2010 at 7:40 a.m.
Filed under:
Pharmaceuticals,
Retail
By Bruce Japsen
Drugstore giant Walgreens said October sales rose nearly 4 percent buoyed by its acquisition in April of large New York pharmacy chain Duane Reade stores. The Deerfield-based pharmacy chain said October sales were $5.85 billion, up of 3.7 percent from $5.64 billion compared to October of 2009. Get the full story »
Nov. 2, 2010 at 2:13 p.m.
Filed under:
Economy,
Retail
By Reuters
U.S. retailers are poised to report their weakest monthly sales gains in six months as as the warmest October weather in decades and a still-stumbling economic recovery crimped demand for fall merchandise.
Analysts expect same-store sales to have risen 1.6 percent in October, compared with a 1.8 percent increase last year, according to Thomson Reuters data. Get the full story »
By McClatchy Tribune Newspapers
Don’t count Blockbuster out yet.
The Dallas-based movie and game rental chain is hiring about 4,000 seasonal employees to staff its stores nationwide this holiday season. That’s comparable to previous years when Blockbuster wasn’t reorganizing under Chapter 11 bankruptcy. Get the full story »
