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Nov 12, 2009

Walmart set for “extremely competitive” holiday

SAN FRANCISCO (Reuters) – Wal-Mart Stores Inc expects an “extremely competitive” holiday shopping season, but its treasurer said on Thursday that weekly price cuts are driving consumers to its U.S. stores and Walmart.com is seeing “record hits” after it slashed book prices.

“Heading into … the holiday season, everybody is gearing up, and it’s never not competitive, so it’s going to be extremely competitive,” Treasurer Charles Holley told reporters on a press call.

Nov 12, 2009

Wal-Mart profit rises, but holiday view light

SAN FRANCISCO (Reuters) – Wal-Mart Stores Inc posted a higher-than-expected quarterly profit on Thursday, but forecast earnings during the key holiday quarter that could miss Wall Street estimates as its customers face rising unemployment.

Wal-Mart, whose shares rose 1 percent, is defending its title as the low-price leader ahead of the holidays, a strategy that could also weigh on results. It has repeatedly sparred with rivals from Amazon.com to Target Corp in slashing prices for items ranging from toys to books.

Nov 12, 2009

Costco CFO: Fingers crossed consumers will spend

NEW YORK/SAN FRANCISCO (Reuters) – Costco Wholesale Corp <COST.O> is hoping that consumers are becoming more comfortable making purchases as the No. 1 U.S. warehouse club operator heads into the year-end holiday shopping season.

“We still are cautious but are keeping our fingers crossed that people are buying a little bit,” said Chief Financial Officer Richard Galanti on Wednesday.

Nov 11, 2009

Wal-Mart looks to control crowds on Black Friday

SAN FRANCISCO, Nov 11 (Reuters) – Wal-Mart Stores Inc
<WMT.N> plans to implement new crowd control efforts in its
U.S. stores this Thanksgiving holiday weekend, after stampeding
holiday shoppers trampled a worker to death last year.

Black Friday, or the day after Thanksgiving, typically
marks the official launch of the U.S. holiday season, when
retailers offer eye-popping deals and discounts to attract
shoppers.

Nov 5, 2009

Retail sales suggest tepid holiday season

NEW YORK (Reuters) – More than half of U.S. retail chains posted October sales that fell short of Wall Street’s heightened expectations, raising doubts about a widespread recovery for the holiday season.

Department store chains and teen retailers in particular disappointed investor expectations, while such disparate companies as apparel retailer Gap <GPS.N> and luxury store chain Saks Inc <SKS.N> performed better than hoped as consumers return to spending selectively.

Nov 5, 2009

Gap Inc shares up as October sales beat Wall St view

NEW YORK (Reuters) – Gap Inc’s <GPS.N> October sales surpassed analyst expectations and the clothing retailer forecast quarterly earnings above current Wall Street estimates, sending its shares up nearly 4 percent.

Gap’s same-store sales rose 4 percent after plunging 16 percent in October 2008. Analysts had forecast a 1.6 percent rise in same-store sales, according to Thomson Reuters data.

Nov 5, 2009

US Oct retail sales suggest tepid holiday season

NEW YORK, Nov 5 (Reuters) – More than half of U.S. retail
chains posted October sales that fell short of Wall Street’s
heightened expectations, raising doubts about a widespread
recovery for the holiday season.

Department store chains and teen retailers in particular
disappointed investor expectations, while such disparate
companies as apparel retailer Gap <GPS.N> and luxury store
chain Saks Inc <SKS.N> performed better than hoped as consumers
return to spending selectively.

Nov 4, 2009

Wal-Mart’s latest price cuts target turkey and TVs

NEW YORK (Reuters) – Wal-Mart Stores Inc is slashing prices on flat screen TVs and selling 12-pound turkeys for less than $5 each as the discounter looks to appeal to shoppers preparing for the U.S. Thanksgiving holiday.

The efforts build on the retailer’s plan, announced last month, to slash prices in its U.S. Walmart stores every week until Christmas. It has already lowered prices on popular toys and groceries, like bananas and ground beef.

Nov 3, 2009

Family Dollar sees growth in stores, new shoppers

NEW YORK, Nov 3 (Reuters) – Family Dollar Stores Inc<FDO.N>
said on Tuesday that it will expand its business by opening new
stores, renovating older locations and selling more to the
middle-income consumers who are looking for bargains.

Chief Executive Howard Levine also said at the retailer’s
analyst meeting, which was broadcast over the Internet, that
Family Dollar continues to target double-digit earnings
growth.

    • 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."
      Joined Reuters:
      2002
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