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Retail

  • RILA: President’s budget falls short on tax reform

    Arlington, Va. -- A statement by The Retail Industry Leaders Association regarding President Obama’s 2014 budget proposal was issued Wednesday, saying, “While we applaud the President for recognizing the urgent need for revenue neutral corporate tax reform, his proposal falls short of the bold reforms needed.” said Bill Hughes, SVP government affairs.  

  • Bed Bath & Beyond Q4 and full-year profit rises

    Union, N.J. -- Bed Bath & Beyond Inc. reported Wednesday that net income for the quarter ended March 2 increased 14% to $373.9 million, compared with $351 million in the year-ago period. But the retailer’s guidance for the current quarter came up short.

    Sales leaped 24.5% to $3.401 billion, from $2.732 billion, and same-store sales rose 2.5%.

    For the fiscal year, net earnings rose 12% to $1.038 billion), from $989.5 million. Full-year revenue rose 14.9% to $10.915 billion, and same-store sales for fiscal 2012 increased 2.7%.

  • Family Dollar Q2 profit edges up; opening 500 stores this year

    Matthews, N.C. -- Family Dollar Stores reported Wednesday that net income for the quarter ended March 2 edged up to $140.1 million, compared with $136.4 million in the year-ago period.

    Sales increased 17.7% to $2.89 billion from $2.46 billion, and same-store sales rose 2.9%.

  • NRF speaks out in support of new port contracts

    Washington, D.C. -- The National Retail Federation issued a statement on Tuesday in support of the International Longshoreman’s Association’s approval of a new long-term master labor contract covering port terminal operations along the East and Gulf Coast ports.

  • J.C. Penney: The Best Case for Test and Learn

    By Rafi Musher, [email protected]

  • J.C. Penney’s Ullman resigns from Saks board

    New York -- In not-so-unexpected news, a regulatory filing with the SEC on Wednesday revealed that J.C. Penney’s new CEO Mike Ullman has resigned from Saks Inc.’s board of directors, effective Monday.

    Saks has not yet named a replacement for Ullman.

  • Report: Wal-Mart exec who called sales ‘total disaster’ has left

    New York -- A Wednesday report by Reuters said that Jerry Murray, the Wal-Mart finance VP who called the chain's early February sales "a total disaster" in an email made public by Bloomberg, has left the company, effective April 5.

    Wal-Mart Stores has confirmed the report, telling Reuters that it was Murray's decision to leave and that his last day at Wal-Mart was Friday.

  • Duane Reade debuts first mobile app

    New York -- Drugstore operator Duane Reade announced Wednesday the launch of its first mobile application for iOS devices.  

    The app, free in the iTunes store, is intended to facilitate and customer access to Duane Reade’s pharmacy services, photo printers, prescription refills, Balance Rewards offers, account information and in-store maps.  

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