(Reuters) – British education and media publisher Pearson Plc has agreed to acquire a 5 percent stake in Barnes & Noble Inc’s Nook Media unit for $89.5 million, sending shares of the bookstore operator up as much as 9.7 percent on Friday.
The Nook Media unit comprises Barnes & Noble’s digital businesses — including the Nook e-reader and tablets and the Nook digital bookstore — and 674 college bookstores across the United States.
Dec 26 (Reuters) – The 2012 holiday season may have been the
worst for retailers since the 2008 financial crisis, with sales
growth far below expectations, forcing many to offer massive
post-Christmas discounts in hopes of shedding excess inventory.
While chains like Wal-Mart Stores Inc and Gap Inc
are thought to have done well, analysts expect much less
from the likes of book seller Barnes & Noble Inc and
department store chain J. C. Penney Co Inc.
Dec 26 (Reuters) – As the U.S. holiday season winds down,
retailers were left to hope that post-Christmas sales could help
salvage their worst performance since 2008, preliminary data
Holiday-related sales rose 0.7 percent from Oct. 28 through
Dec. 24, compared with a 2 percent increase last year, according
to data from MasterCard Advisors SpendingPulse.
Chicago, Dec 21 (Reuters) – In retail, showrooming has not
hit shirts yet.
Showrooming, the retail term for shoppers who try a product,
then buy it cheaper on Amazon.com or other websites,
has driven retailers to the point of hiding barcodes, improving
their own websites and coming up with methods to get people to
complete their purchase in the store.
But brand-name clothing retailers have an advantage over
companies that sell items you can buy anywhere, like televisions
and home goods.
(Reuters) – Nike Inc (NKE.N: Quote, Profile, Research, Stock Buzz) reported forecast-topping quarterly profit on Thursday on strong demand in North America, and its orders volume indicated steady worldwide demand, sending its shares up more than 5 percent after the bell.
Orders for Nike-branded shoes and clothing scheduled for delivery from December 2012 through April 2013, known as futures orders, were up 14 percent in North America, Nike’s most mature market.
(Reuters) – Best Buy Co Inc (BBY.N: Quote, Profile, Research, Stock Buzz) agreed to extend the deadline to February 28 for founder Richard Schulze to make a bid for the company, continuing the uncertainty for shareholders over whether he can put a bid together.
Best Buy shares fell 14.2 percent to $12.12 on the New York Stock Exchange.
The company said on Friday the extension would allow Schulze to include the consumer electronics retailer’s full-year results as part of his due diligence review.
(Reuters) – With West Coast port workers back on the job Wednesday, U.S. retailers and trade groups were turning focus back to negotiations to stop a potentially more damaging port strike in the East.
Retailers ranging from Target and American Eagle to Home Depot told Reuters they have their holiday merchandise in place and the eight-day long strike at the ports of Los Angeles and Long Beach would not upset plans.
(Reuters) – Teen clothing retailer American Eagle Outfitters Inc (AEO.N: Quote, Profile, Research, Stock Buzz) said it got off to a strong start for the holiday selling season and raised its earnings forecast for the year, while Aeropostale Inc’s (ARO.N: Quote, Profile, Research, Stock Buzz) forecast showed it expects a tougher season than its rival.
Aeropostale, which has been losing out to its rivals as it sees inconsistent demand from its young clients, said the environment in the teen apparel space is still heavily promotional. Analysts have said, however, that on basic items like sweaters and T-shirts, Aeropostale was cutting prices more than the competition.
DHAKA/CHICAGO (Reuters) – Three supervisors of a Bangladeshi garment factory were arrested on Wednesday as protests over a suspected arson fire that killed more than 100 people raged on into a third day, with textile workers and police clashing in the streets of a Dhaka suburb.
The government has blamed last weekend’s disaster, the country’s worst-ever industrial blaze, on saboteurs and police said they had arrested two people, who were seen on CCTV footage trying to set fire to stockpiles of material in another factory.
Nov 28 (Reuters) – Teen clothing retailer American Eagle
Outfitters Inc said it was heading into a strong holiday
season as both its casual clothes and lingerie sold well, and
more customers shopped at its stores despite fewer discounts
than last year.
Shares of the company rose 8 percent Wednesday morning on
the New York Stock Exchange.