Discount Store

Target’s Redcard may become an increasingly more important factor in the retailer maintaining low price leadership.

Customer Growth Partners’ price comparison survey for Target and Walmart revealed that on a comparable 55-item basket of items found at Walmart Supercenters and Target P-Fresh stotes or Target Superstores, Walmart had reasserted price leadership over Target by almost 3%--prior to Target’s Redcard 5% discount. For the first three months of the year Target had 0.6% advantage (prior to the Redcard discount) over Walmart. 

Miami Beach, Fla. -- Terranova Corp. announced it has been awarded new leasing assignments for two south Florida strip centers.
       
Piper’s Glen Shopping Center in Boynton Beach and Shoppes of Ives Dairy in Miami Gardens have been added to the Terranova leasing portfolio, effective immediately.

The most recent pricing survey from the equity research team at Credit Suisse shows that Walmart is either 3.1% cheaper than Target or 1.9% more expensive. The firm compared prices at stores in the Dallas and Chicago markets, as it does every month, and during March discovered the gap between the two competitors narrowed considerably.

“Target’s price gap with Walmart tightened from 4.2% in February to 3.1%,” according to the firm. “Target’s basket price decreased sequentially by 0.8% compared with Walmart’s 0.3% increase.”

NEW YORK — Apparel retailers across the board experienced strong sales gains in April, thanks in large part to the inclusion of Easter in this year’s reporting period, leading many to raise their quarterly earnings guidance.

New York City -- Retailers reported strong April sales that were boosted by the late Easter holiday, which fell on April 24, three weeks later than last year. Same-store sales rose 8.9% at the 25 retailers tracked by Thomson Reuters, compared with expectations for an 8.2% increase. But the good news was tempered as retailers acknowledged that shoppers are under increasing pressure from rising gas prices and other cost increases.

MEMPHIS, Tenn. — Fred's on Thursday tallied $141.8 million in sales, representing an increase of 3% for the four weeks ended April 30, the retailer reported Thursday.

Comparable-store sales for the month rose 1.8%, versus an increase of 0.6% in the same period last year. Likewise,  Fred's total sales for the first three months of fiscal 2011 increased 3% to $484.4 million.

I’m not much of a follower of astrology and the signs of the zodiac, but I do know that 2011 is the Year of the Rabbit on the Chinese calendar.

It seems somehow fortuitous that speed and agility define a year that is all about economic recovery. And retail is moving forward at a rate that, while not exactly hare-like, is at least faster than the proverbial tortoise.

Shoppers looking to buy an e-reader for mom this week had an interesting choice to make. They could pay $149 for a Nook at Walmart or go to Target or Best Buy and pick up a Kindle for $114. Target and Best Buy offered the Wi-Fi-enabled Kindle version capable of holding up to 3,500 books, and Target even featured the device on the cover of its weekly ad with a large photo. Walmart opted for a similar strategy and featured the Wi-Fi-enabled Nook capable of holding 1,500 books for $149 on the cover of its circular.