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March 25, 2011
Wet Seal reported that net income for the fourth quarter ended Jan. 29 dropped to $5.3 million, compared with $74.2 million in the year-ago period. Last year’s fourth quarter included a noncash tax benefit of $64.7 million.
March 25, 2011
The Wall Street Journal's Dan Gallagher reports that retailer GameStop saw its revenue jump 10 percent thanks to the chain's catering to hard-core gamers
March 25, 2011
A new marketing challenge has many retail brands finding themselves navigating a highly influential phenomenon: customer-produced videos hosted by chatty, mostly female, teen shoppers providing blow-by-blow coverage of their most recent shopping hauls.
March 25, 2011
Bensalem, Pa. -- Charming Shoppes said Thursday it recorded a net loss on a GAAP basis of $30.4 million for the quarter ended Jan. 29, compared with a loss of $28 million a year earlier. The company also announced the announced the appointment of Anthony M. Romano, COO and acting CEO, as president and CEO. Total net sales increased 7% to $575.8 million for the fourth quarter ended Jan. 29, compared with $539.0 million for the prior year period. Same-store sales for the fourth quarter increased 9%, including an 11% increase at Lane Bryant; e-commerce sales increased 41%. The
March 25, 2011
The Postal Regulatory Commission (PRC) issued its Advisory Opinion on a Postal Service plan to end Saturday mail delivery, collection and outbound mail processing. The Postal Service is required to ask the Commission for an Advisory Opinion on any change in nationwide service it proposes. The Postal Service advised the Commission that due to falling mail volumes and revenues it is considering eliminating Saturday mail collection and delivery except for Express Mail and existing post office box service.
March 25, 2011
/PRNewswire/ -- Diossy Brothers LLC, a fine-art apparel company, announces the launch of its exciting new apparel line available exclusively on-line and soon to be made available to select retailers. The Diossy men's apparel line combines intricate and unique designs screen printed on premium quality, extremely comfortable and easy to wear tees. Later this spring, the first women's line will be launched highlighting a beautifully designed series of floral and mythological works including mermaids and seahorses. Driven by a love of art and the ocean, Diossy Brothers LLC has created a clothing line which represents a casual lifestyle with
March 25, 2011
Talbots has seen little success in its bid to shed a stodgy image and attract a younger clientele. Now it's back to focusing on its core customers and the move seems to be paying off.
March 25, 2011
E-commerce is already the most valuable player on Williams-Sonoma's team, and the retailer is committing major money to keep up its star's winning streak. The multichannel retailer will invest $75 million in e-commerce and the information technology and supply chain solutions to support it in fiscal 2011, with $25 million earmarked specifically for long-term international e-commerce growth.
March 25, 2011
Toronto -- Canadian golf retailer Golf Town said Thursday it has opened its first five stores in the United States, all located in the greater Boston area. The $25 million U.S. market expansion includes stores in Avon, Bellingham, Reading, Seekonk and Watertown, Mass., all of which opened on March 24 and total about 100,000 sq. ft. A sixth store is slated to open in Northborough, Mass. in the fall. Golf Town sells golf apparel and equipment in an interactive environment that features simulators, putting greens and on-site pro shops. It is Canada’s largest golf retailer, operating 52 superstores, averaging
March 25, 2011
THE NEWS: Best Buy's net income fell 16 percent in the fourth-quarter as weak demand for pricey TVs and notebook computers sent revenue down 2 percent to $16.26 billion. THE CONTEXT: Best Buy, the largest U.S. electronics chain, is contending with a changing electronics market as more people buy online or in discount stores. The retailer is responding by opening smaller stores and expanding more profitable, fast-growing categories such as tablet computers and smartphones. WHAT'S NEXT: In fiscal 2012, the company expects net income of $3.30 to $3.55 per share as revenue remains constrained. Analysts expect $3.56 per share.
