Midwestern discount department store retailer Gordman’s Stores said that profit for the quarter ended April 28 rose 10.6% to $8.1 million, compared with $7.3 million in the year-ago period.
Wal-Mart Stores announced a series of management changes that include an unexpected change in leadership at Sam’s Club, and a new chief information officer.
The nation’s discounters and department store retailers turned in mixed results for December, with many chains citing unseasonably warm weather that sapped demand for cold-weather merchandise.
Discount stores will continue to dominate as the destination for the majority of consumers’ back-to-school dollars this year, with office supply stores also remaining strong, according to a survey by Accenture on parents’ back-to-school shopping plans.
Discount store retailer 99 Cents Only Stores has received a proposal to take the company private from the company's founding family and investment firm Leonard Green & Partners LP for $19.09 per share, the Associated Press reported.
Wal-Mart de Mexico SAB (Walmex) plans to increase investment by 45% in 2011 from last year as it expands its business in Mexico and Central America, Bloomberg reported.
Walmart Canada, a unit of Wal-Mart Stores, will invest approximately $500 million on expansion its upcoming fiscal year, which runs from Feb. 1, 2011 to Jan. 31, 2012.