Retailers see economy staying tough for shoppers Reuters Share High gasoline and food prices and a slow recovery in jobs will continue to weigh on consumers this year, except for those that buy $98 yoga pants and $400 baseball bats, retailers and manufacturers said. Consumer spending was flat for the first time in 10 months in May and consumer confidence fell in June. The data came as no surprise to executives who spoke
this week at the Reuters Consumer and Retail Summit, most of whom said their customer is still under pressure two years after the U.S. recession officially ended.More
Gap to open its first stores in Africa Reuters Share Clothing retailer Gap Inc, will enter Africa this year, as part of an ongoing international push, with plans to open stores in Egypt and Morocco. The company plans to open its first Gap store in Egypt next month and the first Gap and Banana Republic stores in Morocco in October.
BJ's completes $2.8 billion deal The Boston Globe Share BJ’s Wholesale Club Inc. plans to go private after reaching a $2.8 billion deal yesterday that is expected to transform the East Coast discount chain into a national player without pressure
from Wall Street.
Walgreen Co. to add 600 jobs in Chicago Chicago
Tribune Share Deerfield, Ill.-based drugstore giant Walgreen Co. and Chicago Mayor Rahm Emanuel announced that Walgreens will open dozens of new food outlets as the retailer upgrades stores and expands in Chicago. The plan will include the addition of 600 jobs in the city over the next two years.More
More shoppers discover Family Dollar Retailing Today Share Increased customer traffic during Family Dollar's third quarter may have helped the company produce a 4.7 percent same-store sales increase, however earnings per share that advanced 18.2 percent to 91 cents were four cents shy of analysts' consensus estimate of 95 cents.
Supervalu to boost 'zero-waste' store count Share Supervalu said it would transition 40 stores to "zero waste" operations during its current fiscal year ending Feb. 29. Supervalu said the zero-waste stores would be primarily in its Albertsons banner.More
Wal-Mart aims to foster minority-owned business with Chicago program Crain's Chicago Business Share Wal-Mart Stores Inc. plans to launch a new minority supplier program from Chicago, focusing on professional services, food and general merchandise. Thomas Mars,
executive vice-president and chief administrative officer of the Bentonville, Ark.-based retail giant, announced the supplier program recently at a Metropolitan Planning Council lunch in Chicago.
Retailers twice shy about holiday season Reuters Share Retailers, bitten by over-optimism last holiday season, are planning conservatively for the coming season in order to limit profit-sapping discounts on unsold merchandise come January.
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