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In a deal that underscores the growing competition to capture a consumer shift toward buying bulk items online, Amazon.com Inc. is poised to acquire Quidsi Inc., the parent company of Diapers.com and Soap.com, according to a person familiar with the matter. The parties could announce the deal as early as Monday.
Year-over-year GAFO retail sales increased a 1.1% for the week ending Oct. 30 while sales slipped 3.9% versus the previous week ending Oct. 23, according to ShopperTrak’s National Retail Sales Estimate. Week-over-week GAFO sales declined last week as the large majority of spending for Halloween merchandise and candy fell outside of the GAFO retail category which ShopperTrak routinely measures (general, apparel, furniture, office). However, on a yearly basis, sales posted a slight rise as cooler weather possibly lifted fall merchandise purchases in parts of the country.“Although the week-over-week decline was slightly larger than we anticipated, last week’s overall performance
Only 21 percent of luxury retailers currently let consumers complete transactions from mobile commerce Web sites or applications according to FitForCommerce.
Macy’s outdid rivals J.C. Penney and Kohl’s in October, posting a gain in same-store sales and exceeding analysts’ expectations. Kohl’s and J.C. Penney both posted declines in the same metric. Macy’s on Thursday reported a 2.5% increase in same-store sales in October and also lifted its second-half profit view. The company reported total sales of $1.807 billion for the four weeks ended Oct. 30, up 6.8% compared with last year.“Overall, we are pleased with our sales performance in the third quarter and the continued results of major strategies including our My Macy’s localization initiative. Bloomingdale’s sales continued to be
Wal-Mart Stores has joined the race to buy Indonesian retailer Matahari's hypermarket business in a deal worth up to $1 billion, Reuters reported. Wal-Mart is expected to compete in the auction with South Korea's Lotte Shopping and private equity fund Carlyle Group.Matahari is selling Hypermart, Indonesia's second-biggest hypermart chain after PT Carrefour Indonesia, to focus on its core healthcare and property assets.
Matthews, N.C.-based Family Dollar Stores Inc. plans to add 300 new stores in 2011 and begin an aggressive plan to remodel its existing stores, according to WSJ.com. "We thought that the rapid store growth was really hurting our core performance," said James Kelly, president and COO for Family Dollar. "Now we’re ready." According to the company, it will pick up the pace of store growth over the next few years, aiming to expand at a rate of 5 percent to 7 percent. In addition, the company is slated to renovate 600 to 800 stores, with hopes of boosting sales,
Jo-Ann Stores on Thursday said its third-quarter same-store sales rose 4.1%.Net sales for the quarter ended Oct. 30 rose 5.1%, to $535.3 million. Customer transactions increased 3.6%, while the average ticket edged up 0.5%.
The Retail Industry Leaders Association's Casey Chroust discusses logistics trends in retail at RILA Logistics 2010.
Warner Bros. Consumer Products and retail partner Hot Topic are launching dedicated in-store boutiques with exclusive merchandise inspired by Harry Potter and the Deathly Hallows.
Bebe (NASDAQ:BEBE) revealed Thursday a narrowed first-quarter loss on tighter expenses and store closures, however earnings still only matched expectations, sending shares tumbling more than 9%. The Brisbane, Calif-based company posted a net loss of $1.15 million, or a penny a share, compared with a loss of $4.18 million, or 5 cents a share, in the same quarter last year, matching the Street’s view. Revenue for the designer of women’s apparel and accessories was $117.9 million, down 2.4% from $120.8 million a year ago, beating the Street’s view of $114.8 million.