Nathan's Feed
Jan 16, 2015

Thin crowds during CEO’s visit helped seal Target Canada’s demise

NEW YORK/TORONTO (Reuters) – Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) was scrambling for ways to fix its failing Canadian expansion and considering closing just the weakest locations, but a pre-holiday visit to several stores by CEO Brian Cornell helped seal the decision for a full retreat.

Cornell spent the weekend before Christmas making solo visits to stores in Ontario and Quebec, Canada’s most populous provinces, according to a Target source familiar with the U.S. discount retailer’s decision to pull out of Canada.

Jan 7, 2015

Cheap gas gives US holiday shopping season late December kick

CHICAGO, Jan 7 (Reuters) – Plummeting gasoline prices likely
sparked a long-awaited jump in spending during the final stretch
of the U.S. holiday shopping season as consumers took advantage
of billions of dollars in savings at the pump.

As gasoline prices slid to their lowest in nearly six years,
a Reuters poll showed a late December spike in the percentage of
consumers willing to spend more due to lower costs of auto and
heating fuel.

Jan 2, 2015

Analysis – Free delivery creates holiday boon for U.S. consumers at high cost

SAN FRANCISCO/CHICAGO (Reuters) – For top U.S. retailers, free delivery is now the norm. That is good news for shoppers, but not so much for investors.

During the just-ended holiday season, outlets from Target to Wal-Mart to Amazon expanded their free-delivery options, adding more items eligible for free shipping. They also did away with minimum spending thresholds to qualify for the perk.

Jan 2, 2015

Free delivery creates holiday boon for U.S. consumers at high cost

SAN FRANCISCO/CHICAGO (Reuters) – For top U.S. retailers, free delivery is now the norm. That is good news for shoppers, but not so much for investors.

During the just-ended holiday season, outlets from Target to Wal-Mart to Amazon expanded their free-delivery options, adding more items eligible for free shipping. They also did away with minimum spending thresholds to qualify for the perk.

Dec 26, 2014

Women’s apparel, dining drive U.S. holiday sales: MasterCard

By Nathan Layne

(Reuters) – U.S. retail sales rose 5.5 percent from the day after Thanksgiving through Christmas Eve as solid demand for women’s apparel, jewelry and casual dining offset surprisingly sluggish sales of electronics, MasterCard said in its holiday spending report.

The report, which tracks spending by combining sales activity in MasterCard’s payments network with estimates of cash and other payment forms, offers an early look into how the holiday season shaped up. Official government data and results from retailers will not be available until next month.

Dec 24, 2014

U.S. minimum wage hikes to impact 1,400-plus Walmart stores

CHICAGO (Reuters) – Minimum wage increases across the United
States will prompt Wal-Mart Stores Inc to adjust base
salaries at 1,434 stores, impacting about a third of its U.S.
locations, according to an internal memo reviewed by Reuters.

The memo, which was sent to store managers earlier this
month, offers insight into the impact of minimum wage hikes in
21 states due to come into effect on or around Jan. 1, 2015.

Dec 24, 2014

Exclusive: U.S. minimum wage hikes to impact 1,400-plus Walmart stores

CHICAGO (Reuters) – Minimum wage increases across the United States will prompt Wal-Mart Stores Inc to adjust base salaries at 1,434 stores, impacting about a third of its U.S. locations, according to an internal memo reviewed by Reuters.

The memo, which was sent to store managers earlier this month, offers insight into the impact of minimum wage hikes in 21 states due to come into effect on or around Jan. 1, 2015.

Dec 18, 2014

U.S. holiday sales may recover with help of deep discounts

CHICAGO (Reuters) – Despite a disappointing Thanksgiving weekend, U.S. holiday sales may squeak by expectations if steeper and longer-running discounts lure enough shoppers.

An uptick in last-minute shopping trips on the all-important weekend before Christmas is likely to benefit consumer electronics chains like Best Buy (BBY.N: Quote, Profile, Research, Stock Buzz) and home improvement retailers like Home Depot (HD.N: Quote, Profile, Research, Stock Buzz) and Lowe’s (LOW.N: Quote, Profile, Research, Stock Buzz) the most.

Dec 16, 2014

Wal-Mart must pay $188 million in workers’ class action

By Shailaja Sharma and Nathan Layne

(Reuters) – The Pennsylvania Supreme Court ordered Wal-Mart
Stores Inc to pay $188 million to employees who had sued
the retailer for failing to compensate them for rest breaks and
all hours worked.

Wal-Mart said on Tuesday that it might appeal the decision,
which upheld lower court rulings, to the U.S. Supreme Court.

Dec 9, 2014

Saving Sears: Eddie Lampert’s complicated dance

Dec 9 (Reuters) – Tax rules and concerns about Sears
Holdings Corp’s tenuous financial condition may force
CEO Eddie Lampert to do a complicated dance as he plans to spin
off the retailer’s best real estate into a separate trust.

Last month, the troubled retailer and its chief executive
disclosed plans to form a real estate investment trust (REIT)
that would acquire as many as 300 Sears stores and lease them
back to the retailer. This, CreditSights estimated, could help
Sears raise $2.6 billion, providing a critical cash injection.