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Neiman Marcus is giving its 2010 Christmas Book an extra boost this year by distributing the famous catalog via Apple’s iPad.
The catalog of extravagant gifts, unveiled Tuesday, is an ode to the return of luxury shopping. And it allows tech-savvy spenders to view and purchase the gifts from their iPad. Get the full story »
Binny’s Beverage Depot is moving into a vacant Circuit City store in Bolingbrook as the family-owned chain of liquor stores continues to expand.
The 22,000-square-foot store at the Promenade Bolingbrook is slated to open by the middle of the month, according to owner Michael Binstein. The opening will bring the retailer’s number of stores to 25, all in the Chicago area. Get the full story »
U.S. drugstore chain Walgreen Co. on Tuesday posted a stronger-than-expected rise in September same-store sales on strong demand in its pharmacy business. Get the full story »
Consumers aren’t in a spending mood and there is little indication that they will be anytime soon, according to a new poll from Harris Interactive.
Indeed, the market research firm has asked the same set of questions to consumers seven times since the economic crisis began in 2008 and, with few exceptions, the responses have scarcely changed, the New York-based firm said.
The likelihood that consumers will make a big ticket purchase remains low, with 88 percent saying they are “not likely” to buy or lease a new car or truck and 79 percent saying they are “not likely” to buy a computer. Similarly, 90 percent said they are “not likely” to buy a new house or condo. Get the full story »
Marshall Field V, the great-great-grandson of merchandising king Marshall Field, is winding down one of the final vestiges of his public life in Chicago. On Sunday, he announced that he and his wife, Jamee, are closing their family foundation and transferring its assets to a special fund at The Chicago Community Trust.
General Growth Properties Inc. is expected next week to name the members of the board who will take command when the No. 2 U.S. mall owner emerges from bankruptcy protection, and its chairman John Bucksbaum, son of one of the co-founders, will not be on it, a source close to the company said on Thursday. Get the full story »
Consumer spending rose slightly more than expected in August, but inflation remained subdued, leaving the door open for the Federal Reserve to launch a fresh round of monetary policy easing. Get the full story »
One of several models of tricycles being recalled. (Fisher-Price)
By Bloomberg News
Mattel Inc.’s Fisher-Price subsidiary is recalling almost 11 million toys, including tricycles, after reports of children being cut or choking, the U.S. Consumer Product Safety Commission said today.
The recall is the largest for toys since Congress passed a law two years ago beefing up the product-safety regulator’s powers. Mattel and Fisher-Price were fined $2.3 million in June 2009 for toys violating federal lead-paint laws, at the time the largest civil fine in CPSC history. Get the full story »
By Bloomberg News
Wal-Mart Stores Inc., the world’s largest retailer, plans to increase its workforce by 36 percent in the next five years as global economic growth boosts spending.
New employees will be hired “mostly” outside the U.S., Susan Chambers, executive vice president for human resources, said in a speech at a conference in New Delhi today. “The opportunity for growth is not just in India but global,” she said, without providing more details on the hiring plans. Get the full story »
Family Dollar Stores Inc. forecast profit for the current fiscal year that would beat most analyst estimates and said it will speed up the pace of new store openings, sending its shares up 2.5 percent. The retailer, which prices most of its goods under $10, has attracted consumers struggling in a weak economy. It expects to reap the sales benefit of longer store hours, introduced earlier this year, and an overhaul to give more room to fast-moving items like food. Get the full story »
Carson Pirie Scott and Calvin Klein plan to open a pop-up shop in River North on Friday, a first for both companies.
The 1,600 square-foot store, at 116 W. Hubbard St., will remain open for seven days and showcase Calvin Klein’s fall collection of sportswear, dresses, jeans, underwear and accessories. The companies are taking over unfinished retail space on the first floor of Hub 116, a newly constructed office and gallery building. Get the full story »
The Food and Drug Administration on Tuesday warned Johnson & Johnson, CVS and Walgreens to stop making “unproven“ claims that their mouthwash products are effective in removing plaque or preventing gum disease.
In a warning letter sent to each company, regulators specifically targeted Johnson & Johnson’s “Listerine Total Care Anticavity Mouthwash“, CVS’s “CVS Complete Care Anticavity Mouthwash“ and Walgreen’s “Walgreen Mouth Rinse Full Action.” Get the full story »
Shoppers at a Walgreens in Vernon Hills. (Lane Christiansen/Chicago Tribune)
Walgreen Co. fourth-quarter profits were up 8 percent in the company’s fourth quarter on prescription sales but impacted somewhat by a large New York pharmacy acquisition earlier this year.
The Deerfield-based company, which operates more than 8,000 stores across the country, this morning reported profits of $470 million, or 49 cents a share in its fourth-quarter ended Aug. 31. That compares to $436 million, or 44 cents a share, in the company’s fourth quarter of last year.
The earnings report helped boost Walgreens shares up nearly 9 percent, or $2.71 a share, to $33.06 in trading this morning on the New York Stock Exchange. Get the full story »
Several analysts say another Walgreen Co. dividend boost may be in the offing. Walgreens, which raised its quarterly dividend 27 percent to 17.5 cents a share in July, may be looking to move closer its long-term dividend payout target of 30 percent to 35 percent net of earnings. Get the full story »
Topshop, the hipster clothing chain, is coming to the Mag Mile.The British retailer plans to open a store on North Michigan Avenue next spring, marking its second outpost in the U.S., according to a Monday report in Women’s Wear Daily. Get the full story »
