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Jan 8, 2014

Scant details from JC Penney on holiday sales; shares drop

By Phil Wahba

(Reuters) – J.C. Penney Co Inc (JCP.N: Quote, Profile, Research, Stock Buzz) said in a statement Wednesday it was “pleased” with its holiday sales performance, but provided no details on those sales, sending shares of the struggling department-store chain down 8 percent in morning trading.

The retailer, which is expected to report fourth-quarter results in February, is fighting to win back shoppers after a failed experiment to go up-market in 2012 and early 2013.

Dec 31, 2013

Cosmetics maker Revlon to exit China

By Maria Ajit Thomas and Phil Wahba

(Reuters) – Revlon Inc (REV.N: Quote, Profile, Research, Stock Buzz) said it would exit China, where sales of its cosmetics have been falling, and cut more than 1,000 jobs as part of a restructuring designed to save about $11 million a year.

Revlon, owner of the Almay cosmetics brand and Sinful Colors nail polish, said in a filing that its Chinese operations accounted for about 2 percent of total net sales. The company posted net sales of $1.43 billion in 2012.

Dec 24, 2013

U.S. shops use prices, pick-ups to snare holiday stragglers

WEST NYACK, NEW YORK, Dec 24 (Reuters) – Retailers are
trying new ways to win over Christmas procrastinators.

Brick-and-mortar chains seeking ways to improve this
season’s soft sales made it easier for last-minute consumers to
finish their shopping on Christmas Eve. More customers this year
will be able to pick up orders placed online in stores on
Tuesday, the last shopping day before Christmas.

Dec 24, 2013

Retailers blend stores, e-commerce to snag holiday stragglers

NEW YORK (Reuters) – Retailers are trying new ways to win over Christmas procrastinators.

Brick-and-mortar chains seeking ways to improve this season’s soft sales made it easier for last-minute consumers to finish their shopping on Christmas Eve. More customers this year will be able to pick up in stores on Tuesday, the last shopping day before Christmas, orders placed online.

Dec 24, 2013

U.S. retailers blend stores, e-commerce to snag holiday stragglers

NEW YORK, Dec 24 (Reuters) – Retailers are trying new ways
to win over Christmas procrastinators.

Brick-and-mortar chains seeking ways to improve this
season’s soft sales made it easier for last-minute consumers to
finish their shopping on Christmas Eve. More customers this year
will be able to pick up in stores on Tuesday, the last shopping
day before Christmas, orders placed online.

Dec 23, 2013

Bargain-hungry shoppers buy less on weekend before Christmas

, Dec 23 (Reuters) – U.S. consumers shopped
less on the final weekend before Christmas despite deeper
discounts, the latest sign of how difficult a season this is
turning out to be for retailers.

Shoppers also showed signs they will do more of their
spending after Dec. 25 than they did in the same period last
year in the hopes of snagging even more deals.

Dec 23, 2013

Bargain-hungry holiday shoppers buy less on last weekend

, Dec 23 (Reuters) – U.S. consumers shopped
less on the final weekend before Christmas despite deeper
discounts, the latest sign of how difficult a season this is
turning out to be for retailers.

Shoppers also showed signs they will do more of their
spending after Dec. 25 than they did in the same period last
year in the hopes of snagging even more deals.

Dec 21, 2013

Pressure builds as retailers near the holiday finish line

NEW YORK/LOS ANGELES, Dec 21 (Reuters) – After buying and
remodeling a home, Karin Gilles and her husband, Dave
Muilenburg, are not splurging on holiday gifts this year – no
matter how drastically retailers slash prices to lift sales in a
shopping season that peaks this weekend.

The couple, instead, is focusing on “a few, more-meaningful
gifts,” said Gilles, 41, who works in public relations for a
technology company in California’s Silicon Valley.

Dec 20, 2013

Promotions, fewer new generic drugs hurt Walgreen

By Phil Wahba

(Reuters) – Walgreen Co (WAG.N: Quote, Profile, Research, Stock Buzz) reported higher quarterly sales on Friday, but an increase in promotions and a slowdown in the introduction of higher-profit generic drugs cut into its gross profit margin at the largest U.S. drugstore operator.

Earnings also rose in the fiscal first quarter, but gross profit margin fell 1.3 percentage points to 28.1 percent of sales amid what Chief Executive Greg Wasson called “the continued soft economy.”

Dec 18, 2013

CVS expects 2014 sales gain despite Obamacare

NEW YORK (Reuters) – CVS Caremark Corp (CVS.N: Quote, Profile, Research, Stock Buzz) said on Wednesday that it expected sales and earnings to rise in 2014 despite only a “modest” benefit next year from the launch of Obamacare and a ban preventing it from marketing to some Medicare patients.

The company said at its analyst day in New York that it expects revenue to rise between 4 percent and 5.25 percent next year, with big gains in its pharmacy benefits management business mitigating softer growth at its drugstores.

    • 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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