Macy's, the department store proprietor, posted enhanced quarterly results on Wednesday as it received benefits from a sturdy recovery in customer spending and superior labors to modify its commodities to local tastes.
Gross margins increased by 1.3 percentage points to 39.4 percent, whilst selling and managerial costs as a percentage of sales plunged by 1.8 percentage points to 35.8 percent.
Karen Hoguet, Macy's Chief Financial Officer, stated in a consultation call with analysts that margins should as well increase in the second quarter.
America's leading retailer, Wal-Mart announced on Wednesday that the company plans to donate food worth $2 billion over the next five years. The company will supply food to food banks and hunger relief organizations across the country. This is among the largest charitable food donation program undertaken by the company.
It was seen lately that Urban Outfitters Inc.'s earning in the fiscal first quarter earnings increased by 72%, crossing the analysts' estimates. In the middle of a broader sector recovery the retail outperformer continued to do well.
During the recession period it was also seen the operator of namesake stores and Anthropologie and Free People shops fared well. It was also noted that some retailers had posted improved results following 2009's results.
Mohamed Fayed loved Harrods so much that he wanted to be buried there. But now he has sold it.
It has always been an embodiment of glamour for over a century and a half. And the milieu for some of the world’s most abundant and, at times, unconventional window displays. It is characteristically a British landmark and a tourist attraction.
US retail major, Best Buy has launched its first UK store in Thurrock, Essex.
According to market speculations, it is to be seen whether Best Buy’s focus on customer service and aggressive pricing, will convince buyers to purchase their devices in-store rather than from the internet.
A retail park in Essex is the dubious scene for a shopping upheaval, but that’s exactly what Best Buy is expecting to attain with the introduction of its first UK store near Thurrock today.
Argos parent company Home Retail Group has announced that it would spend around £150 million to buy back shares and step up investment from £87 million in 2009 to between £125 million and £150 million in 2010.
Home Retail Group, which also owns Homebase chain, decided to overhaul its stores as it is facing cut-throat competition from other supermarket chains such as Asda and Tesco.
World’s leading electronics retailer Best Buy is all set to open its first British store at West Thurrock Retail Par in Essex on April 30.
The upcoming store, which is a partnership between Best Buy's US owner and the British firm Carphone Warehouse, will offer a number of hi-fi equipment, ranging from computer accessories to appliances such as fridges and washing machines.
Britain’s leading retailer Tesco is expected to post profits of £3.38 billion on Tuesday when it will unveil its annual trading figures.
The expected figure is double the combined profits of its rivals Asda, Sainsbury and Morrison. Sainsbury reported a rise of 5.8 per cent in sales, while Morrison saw an increase of 7 per cent in sales.
Fashion retailer Next’s chief executive pocketed more than doubled salary of £1.74 million last year, owing to performance-related bonus that jumped to £1.02 million as the retailer’s pre-tax profits climbed 18 per cent to £505 million in the year to January 20.
The fashion retailer said that Mr. Wolfson would get £340,000 of his last year's bonus in shares, which would be deferred for two years. However, these shares would be forfeited if he leaves the company before then.
Shares in Argos possessor Home Retail Group took off today in the middle of rumor of a possible proposal from supermarket chain, Asda.
Home Retail, which also possesses Homebase, bounced more than 5% after it was acknowledged as a potential target in Asda's development plans.
The superstore, which is owned by US food giant Wal-Mart, is apparently considering a great acquirement as it looks to seal the gap between opponent Tesco and improve its share of the universal commodities market.
In the first half, unstable levels of consumer confidence resulted in the slowdown of sales for the British tile and wood flooring retailer Topps Tiles.
It was told by Topps that the UK revenues from the first half to April 3 would be in the section of £91.5m, whereas in 2009, it was £87.6m. An increase of 4.5% was seen.
He also mentioned that the increase in the total revenue on a fair comparison would be 0.4%.Topps Tiles trades from 309 stores.
Britain's eight leading electrical retailers including Marks & Spencer, DSGi, Comet and John Lewis have pledged to stop selling power-hungry TVs.
Energy Saving Trust (EST) said that it was pursuing other retailers also to encourage them to make the commitment in advance of EU regulations which would force retailers to remove energy-wasting products from their shelves.
EU regulations are expected to be introduced in July 2012.
The retail sales in U. S. registered an unexpectedly surged in February as shoppers braved blizzards to visit the malls, signaling that consumers will massively add more to economic growth.
"The storms were apparently not quite as disruptive as anticipated," said Adam York, an economist at Wells Fargo Securities LLC in Charlotte, North Carolina, whose forecast for a 0.6 percent gain excluding autos was the highest of those surveyed.
Retail sales bounced back in February after a tough January on the High Street, figures from the British Retail Consortium (BRC) showed.
UK retail sales recovered month-on-month by 2.2 per cent in February after January's tough weather conditions that kept people away from the High Street, the British Retail Consortium said.
In January, like-for-like sales dropped more-than-expected 0.7 per cent due to cold weather and return of VAT to its pre-recession level of 17.5 per cent.
Clothing brand George is offering a 100-day returns policy to customers on it product range through Asda to outdo other rivals in the market.
The company competes with Marks & Spencer, Tesco and Primark and others in the clothing segment. It said that it has invested around 40m in the quality and durability of its products in the 18 months.