Research Topic

There’s no doubt that Canada is very much on the minds of U.S. retailers these days. As our cover story points out, Canada is attractive for a number of reasons, from its growing population to its resilient economy. But there is plenty of expansion going on here at home too. The extent of the activity is detailed in the “Spring 2012 Retailer and Restaurant Expansion Guide” from ChainLinks Retail Advisors. The comprehensive report, which details the current expansion plans for more than 2,500 U.S.

Minneapolis -- Best Buy on Saturday announced the locations of the 50 stores that it is closing this year, including seven in California, six in Illinois and six in the company’s home state of Minnesota. The chain has already closed two locations: one in Missouri and one in Arizona.

Most of the remaining 48 stores will close by May 12, with three stores scheduled to close this summer.

New York -- The Commerce Department said Monday that retail sales rose a better-than-expected 0.8% in March as job gains and warmer weather encouraged more consumers to shop. The increase was below February's 1% increase but above January's pace.

Excluding both automotive and gasoline sales, retail sales rose 0.7%. Excluding the increase in auto sales, retail sales still rose by 0.8% in March.

Advance estimates put the total level of U.S. retail sales at a seasonally adjusted $411.1 billion for March.
 

New York -- Retailers’ growth plans are running about 5% ahead of year-ago projections, according to ChainLinks Retail Advisors’ Spring 2012 Retailer and Restaurant Expansion Guide.

Plenty of televisions in Northwest Arkansas will be tuned to CNBC the evening of April 26. That’s when the financial news network airs a one-hour special called, “The Costco Craze: Inside the Warehouse Giant.”

CNBC has turned its cameras on Walmart in the past, twice actually, and more recently Best Buy and Target. Previews for the show on Costco promise to uncover the science and secrets behind the Costco craze.

San Francisco -- A new study released Thursday by MarketTools found that 63% of shoppers say they have changed their shopping habits in the past six months, with the majority reporting changes to seek more value.

According to the study, to save money on grocery bills, respondents reported that they buy items with coupons (80%); buy store brands instead of name brands (62%); use store loyalty cards that offer discounts (62%); buy items only when they are on sale (58%); and buy more large-sized products (43%).

Washington, D.C. -- Figures released Thursday by the Labor Department showed that more Americans than forecast filed applications for jobless benefits last week, reinforcing concern that the labor-market recovery will be slow to develop.

Consumer confidence, however, has held up, as the Bloomberg Consumer Comfort Index was minus 32.8 in the period ended April 8, second only to the prior week’s minus 31.4 as the highest since March 2008.

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the fourth quarter to $163.8 million, from a loss of $205.7 million in the year-ago period.

Revenue rose 10.7% to $7.15 billion from $6.46 billion, beating Wall Street’s expected $7.12 billion in revenue. Same-store sale increased 3%.

For the full year, Rite Aid reported a loss of $368.6 million and revenues of $26.1 billion.

New York -- A report released Thursday by Deloitte found that consumer spending posted an increase in March, reversing a trend of declines.

The Deloitte Consumer Spending Index climbed higher in March, marking only the third monthly increase over the past 12 months. The Index tracks consumer cash flow as an indicator of future consumer spending.

Target’s promotional cadence increased in March, but it was nothing compared with the ramp up in activity at Walmart and Toys“R”Us. To check out Market Track’s monthly review of top retailers’ promotional efforts, click here.