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May 8, 2014

U.S. retailers benefit from warmer April as sales bounce back

NEW YORK, May 8 (Reuters) – Spring was in full swing for
some U.S. retailers, with shoppers spending again in April after
the weather warmed up.

A number of large U.S. retailers, including Costco Wholesale
Corp and Victoria’s Secret parent L Brands Inc,
reported April comparable sales above expectations, helped in
part by a later Easter that pushed sales from March, and the end
of a harsh winter that had kept many shoppers at home.

May 8, 2014

McDonald’s April global restaurant sales rise; U.S. flat

May 8 (Reuters) – McDonald’s Corp reported global
sales growth at established restaurants for April on Thursday
that met expectations, as a rebound in Asia helped offset
disappointing sales in Europe and flat results from the United
States.

The world’s biggest restaurant chain by revenue said
worldwide sales at restaurants open at least 13 months grew 1.2
percent last month, matching analysts’ average estimate,
according to Consensus Metrix.

May 8, 2014

Exclusive: Barnes & Noble seeks big expansion of its college stores

NEW BRUNSWICK, New Jersey (Reuters) – Barnes & Noble Inc (BKS.N: Quote, Profile, Research, Stock Buzz) is turning to its college roots to boost its top line.

The U.S. bookseller, which opened in 1965 as a university bookstore in New York, wants a much bigger presence on college campuses, where students last year spent an average of $1,200 on textbooks and supplies, according to the College Board.

Apr 29, 2014

Coach North American comparable sales tumble 21 percent

April 29 (Reuters) – Coach Inc reported a sharp drop
in North American sales on Tuesday as the upscale leather goods
maker continued to lose ground to fast-growing rivals in the
U.S. handbags market.

Sales at North American stores open at least a year fell for
the fourth quarter in a row, tumbling 21 percent, far worse that
the 14.8 percent decline analysts surveyed by Reuters expected,
and a deeper drop than in preceding periods.

Apr 23, 2014

Procter & Gamble quarterly profit rises on home care sales

By Phil Wahba

(Reuters) – Procter & Gamble Co (PG.N: Quote, Profile, Research, Stock Buzz), the world’s largest household products maker, reported a higher than expected quarterly profit on Wednesday, helped by an increase in home care products sales and better cost control.

But net sales were unchanged at $20.6 billion, disappointing investors looking for stronger growth. Organic sales, which exclude the impact of divestitures and acquisitions, rose 3 percent.

Apr 17, 2014

Wal-Mart takes on money transfer companies with new service

By Phil Wahba

(Reuters) – Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) is launching a money transfer service in a direct challenge to the dominance of Western Union Co. and MoneyGram, aiming to broaden the financial services it offers to low-income customers and increase store traffic.

Wal-Mart said on Thursday that Euronet Worldwide Inc’s (EEFT.O: Quote, Profile, Research) Ria Money Transfer subsidiary would begin running the service, called “Walmart-2-Walmart,” next week.

Apr 17, 2014

Wal-Mart takes on Western Union with store-to-store money transfers

By Phil Wahba

(Reuters) – Wal-Mart Stores Inc said on Thursday it was launching a new domestic money transfer service called “Walmart-2-Walmart” in partnership with Euronet Worldwide Inc subsidiary Ria Money Transfer, competing directly with Western Union Co.

Western Union shares were down 7.1 percent in premarket trading, while those of MoneyGram International Inc, which currently provides money transfer services for Wal-Mart, were down 14.6 percent. Euronet was up 4.2 percent.

Apr 17, 2014

Snack sales help PepsiCo beat profit estimates; soda steadies

By Phil Wahba

(Reuters) – PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) beat profit expectations on Thursday as a booming snacks unit added pep to sales and its struggling North American soda business did better than expected, sending shares up more than 2 percent in premarket trading.

The maker of Pepsi-Cola, Frito-Lay snacks and Tropicana juice said that excluding the impact of currency translation and changes to PepsiCo’s business, quarterly revenue rose 4 percent.

Apr 16, 2014

Analysis – Lululemon’s status as yogawear’s top dog at risk

NEW YORK (Reuters) – Still hurting from last year’s see-through yoga pants debacle, Lululemon Athletica Inc (LULU.O: Quote, Profile, Research) is about to face a new headache: stepped-up competition from rival yoga retailers, department stores and hot new brands.

The company is facing aggressive competition from stores such as Gap Inc’s (GPS.N: Quote, Profile, Research) Athleta, VF Corp’s (VFC.N: Quote, Profile, Research) lucy, Macy’s Inc (M.N: Quote, Profile, Research) and others selling activewear at lower prices at far more locations.

Apr 16, 2014

Lululemon’s status as yogawear’s top dog at risk

NEW YORK (Reuters) – Still hurting from last year’s see-through yoga pants debacle, Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz) is about to face a new headache: stepped up competition from rival yoga retailers, department stores and hot new brands.

The company is facing aggressive competition from stores such as Gap Inc’s (GPS.N: Quote, Profile, Research, Stock Buzz) Athleta, VF Corp’s (VFC.N: Quote, Profile, Research, Stock Buzz) lucy, Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz) and others selling activewear at lower prices at far more locations.

    • About Phil

      "Phil Wahba joined Reuters in 2008 and has covered the exchanges, equity capital markets (IPOs), corporate bankruptcies and now covers retailers such as department stores and booksellers."
      Joined Reuters:
      2008
      Languages:
      English, French, Spanish, German and Danish.
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