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Feb 18, 2010

Wal-Mart holiday sales dip: investors eye traffic

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.

Feb 15, 2010

Has Wal-Mart captured the “slow decade” consumer?

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.

Feb 4, 2010

January retail sales beat but momentum could fade

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>.

Feb 4, 2010

Wal-Mart, Target seek big returns in small stores

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.

Feb 4, 2010

U.S. Jan retail sales move into positive territory

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.

Feb 3, 2010

Wal-Mart cuts 300 jobs in latest reorganization

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.

Feb 3, 2010
via Shop Talk

Paper? Plastic? At Walmart, the push for reuseable


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.

Feb 2, 2010

Costco seen planning for succession with COO post

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.

Feb 2, 2010

Jan retail sales seen up, clues sought on Q1

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.

Jan 29, 2010

Walmart, others cut TV prices in Super Bowl run-up

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.

    • About Nicole

      "Nicole Maestri is a retail correspondent for Reuters and covers some of the world's biggest retailers, including Wal-Mart Stores Inc and Costco."
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