Office Depot is selling off another international unit.
The office supplies giant announced it will sell its stores in China to Shanghai M&G Colipu Office Supplies Co., Ltd. The public, China-based public company manufactures and sells writing instruments, as well as stationery products for offices and students.
Despite a rough first fiscal quarter, Express remains committed to its ongoing plan to manage costs, optimize its store fleet and improve profitability.
For the quarter ended April 29, the specialty apparel retailer posted a net loss of $4.5 million, or $0.06 per share. This included a net negative $0.03 per share impact related to certain discrete tax items and the exit of Canada.
As retail operators return to work this week after what was hopefully a busy Memorial Day weekend for them, they should be encouraged by some rare good news out of Washington, D.C. The industry had some big wins last week on very important issues. Republican House leaders wisely decided to remove language from the popular CHOICE Act that would have repealed the debit card swipe fee reforms the industry fought hard to pass in 2010.
Despite the rash of recent store closings, leasing activity is strong at malls and shopping centers as retailers take advantage of favorable terms.
That’s the take of Mizuho Securities analysts following conversations with major broker organizations at the International Council of Shopping Centers RECon Show in Las Vegas last week.
Walmart is on fire in grocery and capturing a bigger share from traditional supermarkets.
That's according to Loop Capital analyst Andrew Wolf, who estimates Walmart currently has a 21.5% market share in the U.S. traditional grocery market, reported CNBC.
"Wal-Mart is taking back share from the traditional supermarket at an accelerating rate," Wolf said.
A current retail CEO and a former one found themselves at odds on Tuesday at a Capitol Hill hearing on the proposed border adjustment tax.
“Under the new border adjustment tax, American families – your constituents – would pay more so many multinational corporations can pay even less,” said Target CEO Brian Cornell. “Eighty-five percent of Americans shop at Target every year. We believe this new tax would hit those families hard, raising prices on everyday essentials by up to 20%.”
