Asda changes returns policy, customers to get 100days to return goods
The George at Asda supermarket label will tomorrow unveil a permanent 100 day “no quibble” quality guarantee on its entire range of clothing in what it sees as a bid to halt the rise of “throwaway” fashion. If customers are not completely satisfied with the quality of any item bought from the supermarket range, they [...]
Better inventory management helps American Retailers weather February snow
U.S. retailers posted their best monthly sales performance since just before the recession started in 2007, as lean inventories meant they did not need to resort to steep discounts. The February results are the latest indication that consumers are coming out of hibernation, although many of the largest retailers do not report monthly sales data.
Three-quarters [...]
Office Products Retailer Staples issues weak forecast, shares fall
Office products retailer Staples Inc gave a weaker-than-expected forecast for 2010, as it invests to expand its store base and technology business, sending its shares down more than 7 percent. Staples, which also missed profit expectations in the holiday quarter, said it was not planning for a big economic recovery this year. It forecast earnings [...]
Marks & Spencer shareholders want to reduce Stuart Rose’s pay
Marks & Spencer chairman Sir Stuart Rose may be forced to take a pay cut after angry shareholders demand a reduction in his £1.13m basic salary. The retailer’s remuneration committee could reduce Rose’s salary within two months following consultations with shareholders. But retail analysts suggest Rose could leave M&S earlier than his stated departure deadline [...]
Improvement in retail sales despite wary consumers
For retailers that sell everything from toilet paper to refrigerators, 2010 may be more about winning sales from competitors than about getting consumers to buy a lot more of their merchandise. Discounters like Target Corp and Sears Holdings Corp’s Kmart stores posted improved sales performances on Tuesday, while home improvement retailer Home Depot Inc and [...]
Target Q4 profits top expectations, Like for Like sales up 0.6%
Target Corp posted a quarterly profit slightly above Wall Street expectations, but investors had hoped for a bigger improvement and shares fell 1 percent. The No. 2 U.S. discount retailer said sales in the holiday quarter were better than expected, and it expects traffic and sales of discretionary merchandise to improve in 2010. “In this [...]
Walmart enters web movies, buys VUDU, to compete with Netflix
Wal-Mart Stores Inc will buy the fledgling Vudu online movie on-demand service, in a deal expected to close within weeks and pit the world’s largest retailer against the likes of Netflix Inc. Wal-Mart hopes to combine Vudu’s technology with its own scale and expertise to get into a burgeoning market staked out by Netflix and [...]
Carrefour to start Cash & Carry in India, to step in with yet to be named Indian retail partner
French retailer Carrefour is in talks with Indian companies for a partnership and expects to start its business in India with cash-and-carry activities, the company told Reuters. The world’s second largest retailer, however, declined to give names of the companies it is negotiating with and also did not confirm whether it was in talks with [...]
Burberry to exit spain – Retailing Burberry products in spain unviable
Burberry is to close its loss-making Spanish business which produces a cheaper clothing line sold in department stores such as El Corte Engles. The luxury fashion company said sales had collapsed by almost 40% as consumers cut back spending in the recession ravaged country. As a result Burberry said it was “no longer viable” to [...]
Hershey getting ready for Kraft-Cadbury, will help stores to sell more chocolates
Hershey Co has started to share its consumer marketing data with U.S. retailers to help drive sales of chocolate, Chief Executive David West said on Tuesday. The push comes as Hershey gets ready to battle a Cadbury owned by Kraft Foods Inc, as Kraft’s acquisition of the British confectioner is set to close in the [...]
