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September 24, 2014

Starbucks Corp. will acquire the remaining shares of its Japanese joint venture, Starbucks Coffee Japan, for $913 million to accelerate growth across multiple channels in the country, including the introduction of new concepts such as Teavana.

Seattle -- Starbucks Corp. will acquire the remaining shares of its Japanese joint venture, Starbucks Coffee Japan, for $913 million to accelerate growth across multiple channels in the country, including the introduction of new concepts such as Teavana. The acquisition is the largest to date made by Starbucks. Japan is the company’s second-largest market in store sales after the United States.

“Full ownership in this market is the right approach for the future," said Troy Alstead, COO, Starbucks, in a conference call with analysts.

August 28, 2014

Fast-fashion competitors like H&M and Forever 21 and teens more interested in technology than clothing make these challenging times for Abercrombie & Fitch, whose second quarter revenue fell 5.8% to $890.6 million, missing Wall Street projections.

New Dublin, Ohio -- Fast-fashion competitors like H&M and Forever 21 and teens more interested in technology than clothing make these challenging times for Abercrombie & Fitch, whose second quarter revenue fell 5.8% to $890.6 million, missing Wall Street projections. In a nod to changing fashion tastes, the company is phasing out the signature logo-centric clothing that helped build it into a teen retail powerhouse.

April 25, 2014

Starbucks Coffee Corp. plans to open 1,500 new stores worldwide during 2014, including 600 in North America.

Seattle – Starbucks Coffee Corp. plans to open 1,500 new stores worldwide during 2014, including 600 in North America. Starbucks CEO Howard Schultz said that Starbucks is under-stored in many markets, including North America, during a conference call discussing the company’s second quarter financial results.

January 9, 2014

Family Dollar Stores on Thursday announced that president and COO Michael Bloom has left the company to pursue other interests.

MATTHEWS, N.C. — Family Dollar Stores on Thursday announced that president and COO Michael Bloom has left the company to pursue other interests. The company will conduct a search for a new president and COO. The news comes amid disappointing first quarter results for the company, which lowered its earnings expectations for the second quarter and full year. Family Dollar also announced it has promoted Jason Reiser to the position of executive VP - chief merchandising officer.

December 13, 2013

Simon Property Group has announced a plan to spin off all of its strip center business along with its smaller enclosed malls into an independent publicly traded REIT called SpinCo.

Indianapolis — Simon Property Group has announced a plan to spin off all of its strip center business along with its smaller enclosed malls into an independent publicly traded REIT called SpinCo.

August 22, 2013

Target Corp. executives discussed the chain’s omni-channel initiatives on the company’s second quarter conference call with investors.

New York -- Target Corp. executives discussed the chain’s omni-channel initiatives on the company’s second quarter conference call with investors. Target’s executive VP merchandising and supply chain, Kathryn Tesija highlighted the company's investments in flexible fulfillment, including plans to expand a program allowing customers to buy items online and pick them up at the store the same day, starting in the third quarter.

June 20, 2013

Loblaw Cos., Canada's largest grocer, is testing a small-store discount under the Box by No Frills banner.

New York -- Loblaw Cos., Canada's largest grocer, is testing a small-store discount under the Box by No Frills banner. 

The company debuted the concept in Calgary, in a 10,000-sq.-ft. store. The store everyday low price" on groceries and other merchandise, Sarah Davis, Loblaw's CFO said in a conference call Wednesday, The Canadian Press reported.
 

May 31, 2013

Costco Wholesale Corp. is looking to open approximately 150 locations over the next five years, CFO Richard Galanti said on the company’s quarterly conference call with investors.

NEW YORK — Costco Wholesale Corp. is looking to open approximately 150 locations over the next five years, CFO Richard Galanti said on the company’s quarterly conference call with investors.

“And if we get a little better than that, great,” he added. “But that’s certainly a good starting point given where we’ve come over the last few years.”

Of the total, about 55 of the new units would be in the United States, with the rest located in Canada or foreign markets.

May 16, 2013

Wal-Mart Stores on Thursday reported profit and sales that were just below Wall Street expectations as the giant retailer struggled with a number of issues that impacted its U.S. sales, from the payroll tax increase to an unseasonably cold spring to delayed tax returns.

Bentonville, Ark. -- Wal-Mart Stores on Thursday reported profit and sales that were just below Wall Street expectations as the giant retailer struggled with a number of issues that impacted its U.S. sales, from the payroll tax increase to an unseasonably cold spring to delayed tax returns. The discounter also scaled back its earnings expectations for the current three-month period.

Wal-Mart’s net income rose 1.1% to $3.8 billion. Revenue edged up 1%, to $113.4 billion.

February 27, 2013

Target Corp. reported a profit of $961 million for the fourth quarter, down from $981 million in the year-ago period.

Minneapolis -- Target Corp. reported Wednesday a profit of $961 million for the fourth quarter, down from $981 million in the year-ago period. The profit slip reflected expenses related to its Canadian market entry along with a spending slowdown during the holiday period. It was Target's weakest holiday season performance since 2008. But its adjusted results beat analysts' estimates and it forecast first-quarter earnings above Wall Street's view.

December 7, 2012

Canada’s Loblaw Cos. Ltd. plans to spin off the vast majority of its property assets into a real estate investment trust.

New York -- Canada’s Loblaw Cos. Ltd. plans to spin off the vast majority of its property assets into a real estate investment trust. The retailer said it plans to spin off real estate worth more than C$7 billion ($7.05 billion) into the REIT and sell units of the trust through an initial public offering that it hopes to complete by mid-2013.

May 16, 2012

J.C. Penney executives laid out further details of their strategy going forward during the chain’s quarterly conference call with investors.

New York -- J.C. Penney executives laid out further details of their strategy going forward during the chain’s quarterly conference call with investors. The call followed the release of J.C. Penney’s first quarter results, when it reported a worse-then-expected loss of $163 million, and a 19% drop in same-store sales.

J.C. Penney said it would launch a new private label apparel brand, jcp, for both men and women. The brand is set to debut in August.

April 5, 2012

Bed Bath & Beyond Inc.’s profit in the fourth quarter rose to $351.0 million, from $283.5 million a year ago.

Union, N.J. -- Bed Bath & Beyond Inc.’s profit in the fourth quarter rose to $351.0 million, from $283.5 million a year ago.

Revenue for the quarter ended Feb. 25 increased 9.1% to $2.73 billion. Same-store sales were up 6.8%.

In a conference call with analysts, the chain said it anticipates opening a total of 40 stores across all its concepts this fiscal year.
 

March 13, 2012

Urban Outfitters Inc. reported that profit for the fourth quarter fell to $39.3 million, from $75.2 million a year earlier.

Philadelphia -- Urban Outfitters Inc. reported Monday that profit for the fourth quarter fell to $39.3 million, from $75.2 million a year earlier. Sales rose 9% to $730.6 million, missing Wall Street’s expected $740 million in revenue.

The operator of Anthropologie, Free People and Urban Outfitters stores said heavy discounting over the holidays took a big toll on margins; in fact, margins have declined for at least five quarters as the retailer has made major markdowns to clear out slow-moving merchandise.

March 6, 2012

In a conference call to investors, Foot Locker announced an updated strategic plan and financial initiatives intended to elevate the retailer’s performance for the 2012 to 2016 period.

New York City -- In a conference call to investors on Tuesday, Foot Locker announced an updated strategic plan and financial initiatives intended to elevate the retailer’s performance for the 2012 to 2016 period.

February 23, 2012

Sears Holdings Corp. reported a loss of $2.4 billion in the fourth quarter, compared with a profit of $374 million in the year-ago period.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday a loss of $2.4 billion in the fourth quarter, compared with a profit of $374 million in the year-ago period. And in a move long anticipated by some analysts, the chain also announced plans to tap into its massive real estate holdings to help make up for its faltering retail performance.

Revenue for the quarter slipped 4% to $12.5 billion, from $13 billion. Same-store sales fell 4.1% during the quarter at Sears and 2.7% at Kmart.

February 16, 2012

Abercrombie & Fitch CEO Mike Jeffries told analysts during a conference call Wednesday that the teen retailer would close 180 U.S. stores by 2015.

New Albany, Ohio -- Abercrombie & Fitch CEO Mike Jeffries told analysts during a conference call Wednesday that the teen retailer would close 180 U.S. stores by 2015.

The chain will target underperforming locations for closure, and by shuttering them hopes to boost image and profits. Specific stores slated for closure have not yet been announced.

February 9, 2012

Whole Foods Market Inc. reported that profit for the first quarter rose a better-than-expected 33% to $118.3 million amid increased customer visits and higher prices on select items.

Austin, Texas -- Whole Foods Market Inc. reported Wednesday that profit for the first quarter rose a better-than-expected 33% to $118.3 million amid increased customer visits and higher prices on select items. On a follow-up conference call with analysts, the chain revealed it has 69 new stores in development, or 2.4 million square feet, in development.

January 24, 2012

Coach Inc. reported that net earnings for the quarter ended Dec. 31 rose 15% to $347.5 million, compared with $303.4 million in the year-ago period.

New York City -- Coach Inc. reported Tuesday that net earnings for the quarter ended Dec. 31 rose 15% to $347.5 million, compared with $303.4 million in the year-ago period.

Sales increased 15% to $1.45 billion, beating Wall Street’s expected $1.43 billion in revenue.

Same-store sales rose 8.8% in North America.

"We've experienced strong response to our new collections and our pricing and assortment strategy continue to resonate with consumers world-wide," Coach CEO Lew Frankfort said on a conference call.

January 23, 2012

John Donahoe, president and CEO of eBay, during a Jan. 18 earnings call expanded on the test of PayPal with retailer Home Depot.

New York City -- John Donahoe, president and CEO of eBay, during a Jan. 18 earnings call expanded on the test of PayPal with retailer Home Depot.

A division of eBay, PayPal is experimenting with extending its on-line payment system to point-of-sale retail locations. In the fourth quarter of 2011, it chose Home Depot as its first national retailer for a limited test at five stores. PayPal plans to widen the pilot to 51 stores in the Bay Area by the end of the month, Donahoe said.

November 11, 2011

A Friday report in Advertising Age said that Kohl’s Corp. has added $30 million to its fourth quarter marketing spend in order to pad its efforts to garner holiday shopping dollars.

Menomonee Falls, Wis. -- A Friday report in Advertising Age said that Kohl’s Corp. has added $30 million to its fourth quarter marketing spend in order to pad its efforts to garner holiday shopping dollars.

In 2010, the retailer spent $113 million on measured media in the fourth quarter, according to the report, and will spend about $143 million this year. Annually, Kohl’s spends $340 million.

September 26, 2011

Rite Aid has started the rollout of its new wellness store format, with 40 stores completed as of the end of the second quarter (Aug. 27, 2011).

New York City -- Rite Aid has started the rollout of its new wellness store format, with 40 stores completed as of the end of the second quarter (Aug. 27, 2011). It expects to complete a total of some 300 wellness remodels in its current fiscal year, management said during a conference call with investors.

September 8, 2011

Increased sales across its brands helped drive The Men's Wearhouse’s second-quarter net income up nearly 33%, beating estimates.

Houston -- Increased sales across its brands helped drive The Men's Wearhouse’s second-quarter net income up nearly 33%, beating estimates.

The retailer earned $57.1 million for the fiscal quarter that ended July 30, up from $43 million in the same quarter last year.

Revenue increased 22% to $655.5 million. Men's Wearhouse said its purchase in 2010 of two British uniform and work-wear companies helped drive business.

September 1, 2011

Despite low consumer confidence, the volatile economy and a hurricane, many retailers reported better-than-expected sales in August.

New York City -- Despite low consumer confidence, the volatile economy and a hurricane, many retailers reported better-than-expected sales in August. Hurricane Irene appeared to put a dent in the results of some retailers on the East Coast, but the storm did not appear to do as serious damage as some expected.

Total retail sales rose 4.4%, just missing the 4.6% rise that Wall Street analysts had expected, according to Thomson Reuters. Of the 19 out of the 25 retailers that Thomson Reuters tracks, 11 beat expectations.

August 30, 2011

Dollar General Corp. reported Tuesday that its second-quarter net income rose 3.5% to $146 million from $141.2 million in the year-ago period.

Goodlettsville, Tenn. -- Dollar General Corp. reported Tuesday that its second-quarter net income rose 3.5% to $146 million from $141.2 million in the year-ago period. Sales increased 11% to $3.58 billion; same-store sales rose 5.9%. Its results beat expectations. 

The company also raised its full-year outlook.