Journalist, New York
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Dec 1, 2013

Holiday weekend sales dip on discounts; e-commerce jumps

NEW YORK (Reuters) – Heavy discounting took a toll on U.S. retail sales during the Thanksgiving weekend as shoppers spent less than they did a year earlier, according to data released Sunday by an industry group.

That could be an indication of a more difficult season for many retailers. One bright spot this weekend, according to the data, was e-commerce as online sales soared.

Nov 30, 2013

Fights, store evacuation mar U.S. holiday shopping rush

By Karen Brooks and Phil Wahba

(Reuters) – The post-Thanksgiving shopping rush sparked incidents of violence across the United States as a police officer was injured breaking up a fight, a shopper was shot in the leg over a TV and a Walmart was evacuated, according to police and media reports.

The holiday shopping incidents also included a suspected shoplifter shot by police in a Chicago suburb and a woman spitting on another woman’s child in an argument over baby clothes.

Nov 29, 2013

Store evacuation, fights mar U.S. holiday shopping rush

By Karen Brooks and Phil Wahba

(Reuters) – A police officer was injured while breaking up a fight outside a California Walmart, a shopper was shot in the leg over a TV in Las Vegas and a Walmart north of New York City was evacuated as the post-Thanksgiving shopping rush sparked incidents of violence across the nation, according to police and media reports.

The holiday shopping incidents also included a suspected shoplifter shot by police in a Chicago suburb and a woman spitting on another woman’s child in an argument over baby clothes.

Nov 29, 2013

Will U.S. Thanksgiving shopping binge become Black Friday hangover?

NEW YORK (Reuters) – An early start to this year’s U.S. holiday Shopping season may not necessarily ring-up bigger holiday sales for retailers.

Eager to entice cautious consumers, especially with six fewer shopping days this year than in 2012, many retailers offered sales on Thanksgiving, traditionally a day for family, friends and football games. Even Macy’s flagship store in New York opened at 8 p.m., the first time ever on the American holiday.

Nov 26, 2013

Barnes & Noble cost cuts reduce sting of sharp sales drop

Nov 26 (Reuters) – Barnes & Noble Inc, the largest
U.S. bookstore chain, on Tuesday reported a higher than expected
quarterly profit as it cut store workers’ hours scaled back its
money losing Nook business, helping it offset sharp sales
declines.

The bookseller reported an 8 percent drop in quarterly
revenue to $1.73 billion, below analyst estimates, hurt
primarily by its deteriorating digital books and Nook device
business, and a drop in business at its college campus
bookstores and at its namesake superstores.

Nov 26, 2013

Tiffany raises profit outlook; Asia fuels quarterly sales

Nov 26 (Reuters) – Tiffany & Co on Tuesday reported
a higher quarterly profit after far stronger-than-expected sales
in Asia mitigated continued softness in the United States, and
the jeweler again raised its full-year earnings forecast.

The retailer’s shares rose 6.4 percent to $86.15 in trading
before the market opened.

Nov 25, 2013

Wal-Mart veteran McMillon to replace Duke as CEO next year

By Phil Wahba

(Reuters) – Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) has named company veteran Doug McMillon to be its next chief executive, in a bet that his experience running its international unit will bolster growth at the retailer, the world’s largest.

He will take the reins at a time sales growth in the United States is tepid and the company is trying to improve profitability at its international stores.

Nov 25, 2013

Wal-Mart names McMillon to replace Duke as CEO

By Aditi Shrivastava and Phil Wahba

(Reuters) – Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) named the head of its international division, Doug McMillon, to replace Chief Executive Mike Duke, who will retire on January 31 after five years at the helm of the world’s largest retailer.

McMillon, a 47-year-old Wal-Mart veteran, will take charge after the holiday shopping season at a time when the company is facing intense competition from dollar stores and other discounters, such as Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz).

Nov 21, 2013

Target profit pinched by weak U.S. sales, Canadian expansion

By Phil Wahba

(Reuters) – Discount chain Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) on Thursday blamed what it called “constrained” U.S. consumer spending for a tepid rise in quarterly comparable sales, and lowered its full-year profit forecast as a Canadian expansion proved costlier than expected.

Shares fell 3.7 percent to $64 in premarket trading.

Target competes most directly with Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) and other discount retailers, which have all ramped up their promotions to win over reluctant U.S. shoppers.

Nov 20, 2013

J.C. Penney sees holiday quarter comparable sales improving

Nov 20 (Reuters) – J.C. Penney Co Inc on Wednesday
said it was encouraged by sales so far in November and stuck to
its forecast for more than $2 billion in liquidity at fiscal
year-end.

The company’s shares were up 5.5 percent to $9.19 in
premarket trading.

The struggling retailer reported a deeper net loss for the
fiscal third quarter as heavy promotions aimed at winning back
shoppers and clearing out unsold merchandise hurt gross profit
margin. But Wall Street was more focused on the company’s
comments regarding the progress of its turnaround.

    • 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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