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  • Washington Spotlight: Big Wins for Retailers

    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 Republican House leaders wisely decided to remove language from the popular CHOICE Act that would have repealed the debit card swipe fee reforms the industry fought hard to pass in 2010.  

  • Big Lots has big quarter

    Big Lots provided an upbeat outlook and posted a strong first quarter, beating profit expectations.    The chain reported income of $51.5 million, or $1.15 per diluted share, for the quarter ended April 29, 2017, which easily beat Wall Street expectations. This compares to $38.7 million, or 79 cents a share, in the year-ago period.  

  • Off-price retailer posts strong Q1

    As many mall-based specialty retailers continue to struggle, off-pricers continue to flourish and expand. And Burlington Stores is no exception.   Burlington's net income in the quarter, ended April 29, increased to $52.4 million, or $.73 per diluted share, which beat Wall Street expectations of 70 cents. In the year-ago period, the retailer reported net income of $37.5 million.   

  • Report: Walmart gaining big share in grocery

    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.  

  • Dollar Tree Q1 profit falls due to charge

    Dollar Tree's profit declined in the first quarter amid an impairment charge related to its divesture to Dollar Express.   

  • J.C. Penney hires Lowe's exec as new marketing head

    A former Lowe's executive whose resume includes a 16-year stint at Stapes has joined the executive leadership team at J.C. Penney.   Penney said Marci Grebstein will join the company as executive VP, chief marketing officer, in June. Grebstein succeeds Mary Beth West who stepped down as Penney's marketing head on April 1, 2017, after two years on the job, and went on to join The Hershey Company.   

  • Target CEO: Border adjustment tax would hurt my customers

    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%.”

  • NRF: Border tax would result in consumer price increases of 15% or more

    The proposed border adjustment tax would have a negative financial impact on retailers and consumers, as well.    Retailers would “have no choice” but to pass the higher costs on to consumers if Congress passes a proposed $1 trillion border adjustment tax as part of tax reform, the National Retail Federation warned on Tuesday.  
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