http://www.execdigital.com/Retail/ Retail news for executives in the USA. Covering issues in wholesale retail, internet retailing, globalisation, retail marketing, economic growth and recession. A worsening job market and financial market turmoil slammed U S consumer spending in September, despite falling gasoline and food prices, according to a private report released on Friday http://www.execdigital.com/Retail/September-retail-sales-plummet--SpendingPulse_8472.aspx http://www.execdigital.com/Retail/September-retail-sales-plummet--SpendingPulse_8472.aspx Fri, 10 Oct 2008 13:40:06 GMT Retail Digital US U S clothing retailers reported dismal same-store sales results for September as the global financial crisis further squeezed consumers who were already cutting back because of the weak economy http://www.execdigital.com/Retail/U-S--clothing-chains-stumble-as-shoppers-cut-back_8463.aspx http://www.execdigital.com/Retail/U-S--clothing-chains-stumble-as-shoppers-cut-back_8463.aspx Fri, 10 Oct 2008 02:09:49 GMT Retail Digital US Clothing retailers reported dismal same-store sales results for September as the global financial crisis further squeezed consumers who were already cutting back because of the weak economy. http://www.execdigital.com/Retail/Clothing-chains-falter-as-shoppers-clamp-down_8430.aspx http://www.execdigital.com/Retail/Clothing-chains-falter-as-shoppers-clamp-down_8430.aspx Thu, 09 Oct 2008 17:40:43 GMT Retail Digital US Inventories at U.S. wholesalers rose 0.8 percent in August, higher than what analysts had expected, while sales suffered their largest drop in more than a year and a half, a Commerce Department report showed on Thursday. http://www.execdigital.com/Retail/August-wholesale-inventories-up--sales-drop_8429.aspx http://www.execdigital.com/Retail/August-wholesale-inventories-up--sales-drop_8429.aspx Thu, 09 Oct 2008 16:55:44 GMT Retail Digital US (Reuters) - Bankrupt U.S. home furnishings retailer Linens 'n Things sought to speed up closing its remaining 371 stores and begin its going-out-of-business sales to avoid competition from other retail failures, Bloomberg said. http://www.execdigital.com/Retail/Linens--n-Things-to-hasten-store-closings--report_8283.aspx http://www.execdigital.com/Retail/Linens--n-Things-to-hasten-store-closings--report_8283.aspx Wed, 08 Oct 2008 14:38:57 GMT Retail Digital US Costco Wholesale Corp reported a higher quarterly profit on Wednesday as price-conscious shoppers headed to the discount retailer's warehouse locations for bargains on food and gasoline. http://www.execdigital.com/Retail/Costco-profit-rises-8-percent_8273.aspx http://www.execdigital.com/Retail/Costco-profit-rises-8-percent_8273.aspx Wed, 08 Oct 2008 13:34:18 GMT Retail Digital US Wal-Mart Stores Inc reported a slightly lower-than-expected 2 4 percent rise in September sales at U S stores open at least a year on Wednesday, but kept its forecast for third-quarter earnings http://www.execdigital.com/Retail/Wal-Mart-September-same-store-sales-up-2-4-percent_8292.aspx http://www.execdigital.com/Retail/Wal-Mart-September-same-store-sales-up-2-4-percent_8292.aspx Wed, 08 Oct 2008 13:34:07 GMT Retail Digital US Coffee shop chain Starbucks has denied claims that it leaves cold water taps running in its outlets all day as environmental groups condemn the practice http://www.execdigital.com/Retail/Starbucks-accused-of-serious-water-wastage_8201.aspx http://www.execdigital.com/Retail/Starbucks-accused-of-serious-water-wastage_8201.aspx Tue, 07 Oct 2008 17:01:11 GMT Retail Digital US eBay Inc announced that it is to cut 1,000 jobs or 10 percent of its global workforce in a bid to streamline its business while it continues to make acquisitions http://www.execdigital.com/Retail/eBay-axes-10--of-workforce_8104.aspx http://www.execdigital.com/Retail/eBay-axes-10--of-workforce_8104.aspx Mon, 06 Oct 2008 16:56:53 GMT Retail Digital US US mall owner General Growth Properties has suspended its dividend and said it had replaced its Chief Financial Officer after he sold shares to satisfy margin calls http://www.execdigital.com/Retail/General-Growth-suspends-dividend--replaces-CFO_8041.aspx http://www.execdigital.com/Retail/General-Growth-suspends-dividend--replaces-CFO_8041.aspx Fri, 03 Oct 2008 10:21:04 GMT Retail Digital US Drugstore chain Rite Aid Corp said same store sales were up 1 7 percent in the four weeks to September 27, as the Brooks Eckerd stores experienced a turnaround http://www.execdigital.com/Retail/Rite-Aid-September-same-store-sales-rise_8027.aspx http://www.execdigital.com/Retail/Rite-Aid-September-same-store-sales-rise_8027.aspx Thu, 02 Oct 2008 14:42:15 GMT Retail Digital US Walmart Stores Inc announced that it is reducing prices across some of its most popular toys for the Christmas trading period and fast-tracking its Christmas stores http://www.execdigital.com/Retail/Walmart-slashes-toy-prices-for-Christmas_8001.aspx http://www.execdigital.com/Retail/Walmart-slashes-toy-prices-for-Christmas_8001.aspx Wed, 01 Oct 2008 10:26:47 GMT Retail Digital US RC2 Corp announced that it will not proceed with the purchase of the Children’s Publishing Division (CPD) due to adverse capital markets http://www.execdigital.com/Retail/RC2-Corp-terminates-CPD-acquisition_7988.aspx http://www.execdigital.com/Retail/RC2-Corp-terminates-CPD-acquisition_7988.aspx Tue, 30 Sep 2008 15:56:26 GMT Retail Digital US Walgreen Co has reported that net earnings in the fourth quarter increased 11 7 percent to US$443 million, or 45 cents per share, up from US$397 million in the prior year http://www.execdigital.com/Retail/Walgreen-posts-record-Q4-earnings_7962.aspx http://www.execdigital.com/Retail/Walgreen-posts-record-Q4-earnings_7962.aspx Mon, 29 Sep 2008 14:45:28 GMT Retail Digital US Wal-Mart plans to cut its global plastic shopping bag waste by 33 percent over the next five years http://www.execdigital.com/Retail/Wal-Mart-to-cut-global-plastic-bag-waste-by-33-_7941.aspx http://www.execdigital.com/Retail/Wal-Mart-to-cut-global-plastic-bag-waste-by-33-_7941.aspx Fri, 26 Sep 2008 16:28:21 GMT Retail Digital US Rite Aid Corp has reported a net loss of US$222 million in the second quarter, or US$0 27 per diluted share, reflecting slow growth at its Brooks Eckerd stores http://www.execdigital.com/Retail/Rite-Aid-posts-net-loss-_7918.aspx http://www.execdigital.com/Retail/Rite-Aid-posts-net-loss-_7918.aspx Thu, 25 Sep 2008 15:06:34 GMT Retail Digital US The home improvements retailer, Lowe’s Cos, has forecast that same-store sales will slow as the housing market continues to decline http://www.execdigital.com/Retail/Lowe-s-predicts-decline-in-slowing-housing-market_7895.aspx http://www.execdigital.com/Retail/Lowe-s-predicts-decline-in-slowing-housing-market_7895.aspx Wed, 24 Sep 2008 15:19:40 GMT Retail Digital US Gap Inc has announced that it is to buy women’s active wear company, Athleta Inc, to enhance its online portfolio and presence in the active apparel sector http://www.execdigital.com/Retail/Gap-to-acquire-Athleta-for-US-150m_7856.aspx http://www.execdigital.com/Retail/Gap-to-acquire-Athleta-for-US-150m_7856.aspx Tue, 23 Sep 2008 15:01:12 GMT Retail Digital US Macy’s Inc has announced that the first Bloomingdale’s stores outside of the US will open in Dubai in February 2010, as part of a strategic relationship with Al Tayer Group LLC http://www.execdigital.com/Retail/Macy-s-to-expand-Bloomingdale-s-by-2010_7827.aspx http://www.execdigital.com/Retail/Macy-s-to-expand-Bloomingdale-s-by-2010_7827.aspx Mon, 22 Sep 2008 09:00:55 GMT Retail Digital US Philip Green was due to open the first US outlet of Topshop in New York this fall but the opening has been postponed until Spring 2009 due to structural problems http://www.execdigital.com/Retail/New-York-s-Topshop-delayed_7796.aspx http://www.execdigital.com/Retail/New-York-s-Topshop-delayed_7796.aspx Fri, 19 Sep 2008 09:10:35 GMT Retail Digital US Pier 1 Imports Inc reported a narrower net loss in the second quarter of US$30 2 million, or US$0 34 per share http://www.execdigital.com/Retail/Pier-1-posts-US-30-2m-net-loss-in-Q2_7775.aspx http://www.execdigital.com/Retail/Pier-1-posts-US-30-2m-net-loss-in-Q2_7775.aspx Thu, 18 Sep 2008 10:25:24 GMT Retail Digital US Longs Drugs Stores Corp has said that it refuses to enter into talks with Walgreen Co following its proposed US$3 billion takeover offer having agreed a deal with CVS Caremark http://www.execdigital.com/Retail/Longs-rejects-Walgreen-s-US-3bn-takeover-offer_7750.aspx http://www.execdigital.com/Retail/Longs-rejects-Walgreen-s-US-3bn-takeover-offer_7750.aspx Wed, 17 Sep 2008 10:14:13 GMT Retail Digital US The Kroger Co has reported total sales of US$18 1 billion for the second quarter, up 11 9 percent, on the back of gasoline and own brand discounts http://www.execdigital.com/Retail/Kroger-sees-Q2-profit-increase_7734.aspx http://www.execdigital.com/Retail/Kroger-sees-Q2-profit-increase_7734.aspx Tue, 16 Sep 2008 12:10:56 GMT Retail Digital US Best Buy Co Inc has announced that it has entered into an agreement to purchase Napster Inc for US$121 million, or US$2 65 per share in cash, which will be completed in the fourth quarter http://www.execdigital.com/Retail/Best-Buy-to-acquire-Napster_7707.aspx http://www.execdigital.com/Retail/Best-Buy-to-acquire-Napster_7707.aspx Mon, 15 Sep 2008 11:44:39 GMT Retail Digital US Sales at US retailers fell for the second consecutive month during August by 0 3 percent, according to the Commerce Department, while wholesales prices also dropped http://www.execdigital.com/Retail/US-retailers-see-August-sales-drop_7683.aspx http://www.execdigital.com/Retail/US-retailers-see-August-sales-drop_7683.aspx Fri, 12 Sep 2008 10:03:13 GMT Retail Digital US