SAN FRANCISCO (Reuters) – Wal-Mart Stores Inc <WMT.N> posted a drop in holiday sales at U.S. stores and gave a disappointing profit outlook, casting doubt on its ability to keep shoppers won in the recession.
The world’s largest retailer enjoyed sales growth and higher traffic in the depth of the U.S. downturn as consumers sought bargains. But as confidence picks up slightly, shoppers may be heading back to Wal-Mart rivals.
SAN FRANCISCO (Reuters) – Wal-Mart Stores Inc’s <WMT.N> quarterly results will show whether the company gained ground during the critical holiday sales period and if its retail strategy is holding onto its shoppers.
The world’s largest retailer will report fourth-quarter results on February 18, and investors want to see if it was able to overcome holiday price wars and deflationary pressures to push U.S. same-store sales into positive territory.
SAN FRANCISCO/NEW YORK (Reuters) – Top U.S. retail chains ended their fiscal year with better-than-expected January sales, but the current first quarter could be tougher if consumers overspent during the holiday season.
January same-store sales rose 3.3 percent based on a tally of 29 retailers compiled by Thomson Reuters, led by positive surprises from department store operator Nordstrom <JWN.N> and teen apparel chain American Eagle Outfitters <AEO.N>.
NEW YORK (Reuters) – U.S. big box retailers are trying to slim down.
Retailers like Target Corp <TGT.N> and Wal-Mart Stores Inc <WMT.N> have expanded since the late 1980s by opening stores as large as three U.S. football fields.
In the last few years, they began to plan for smaller stores that fit in urban markets. That strategy is gaining urgency now as retailers look for new growth and seek to meet the demands of a shopper looking to buy and spend less.
SAN FRANCISCO/NEW YORK, Feb 4 (Reuters) – January sales at
top U.S. retailers moved into positive territory from last
year’s decline as many chains avoided drastic clearance sales
and shoppers redeemed holiday gift cards.
Many retailers reported sales that beat Wall Street
estimates, and Macy’s Inc’s <M.N> and American Eagle Outfitters
Inc <AEO.N> raised earnings forecasts. Bon-Ton Stores Inc
<BONT.O> said its quarterly earnings would be at or near the
high end of its outlook.
SAN FRANCISCO (Reuters) – Wal-Mart Stores Inc <WMT.N> is cutting 300 jobs at its headquarters in northwest Arkansas as Chief Executive Mike Duke scours the company for ways to cut costs and make the world’s biggest retailer more efficient.
In a memo sent to employees, Duke said managers were asked to look for opportunities to eliminate duplication and reduce costs when deciding which jobs to cut. The jobs are mainly being eliminated in its corporate support divisions, like legal, finance, information systems and human resources.
Three Walmart stores in Northern California are no longer giving shoppers the option of packing their purchases in free plastic bags.
Instead, in stores in Folsom, Citrus Heights and Ukiah, Walmart is offering shoppers resuable bags — a regular sized bag for 15 cents or an oversized bag for 50 cents.
SAN FRANCISCO, Feb 2 (Reuters) – Costco Wholesale Corp
<COST.O> has appointed a president and chief operating officer,
and created an Office of the President, moves analysts said
signal the No. 1 U.S. warehouse club operator is planning an
eventual successor to its chief executive officer.
Late on Monday, Costco said Craig Jelinek, its executive
vice president in charge of merchandising, was promoted to
president and chief operating officer, effective immediately.
SAN FRANCISCO (Reuters) – January sales at top U.S. retail chains should rebound into positive territory from last year’s decline as shoppers redeemed holiday gift cards and retailers avoided drastic clearance sales.
Retailers ranging from Target Corp to J.C. Penney Co Inc to American Eagle Outfitters Inc will report January sales on Wednesday and Thursday. Sales at stores open at least a year, or same-store sales, are forecast to rise 2.4 percent compared with a drop of 5.7 percent last year, according to Thomson Reuters data.
SAN FRANCISCO (Reuters) – Wal-Mart Stores Inc is cutting prices on high-definition TVs ahead of the U.S. Super Bowl championship game, looking to entice shoppers to spend now that the holiday season has ended.
In its U.S. Walmart stores, the discounter is also getting more vocal about promoting its in-home TV installation service, an offering that it said is helping shoppers become more comfortable buying larger, and often more expensive, TVs.