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Mass Merchant

  • QR Codes: The Retailers’ Secret Weapon

    By Laura Marriott, [email protected]

  • Discounters show strength in February; Target sales up 7%

    New York -- In a month that was solid overall, the discount sector showed its muscle, turning in a strong February same-store sales performance nearly across the board.

    After suggesting last week that sales had accelerated and returned to a pre-holiday pace, Target Corp. reported Thursday that same-store sales for the month rose 7%, beating Wall Street’s expected 5.2%. Total sales during the period rose 8% to $5.13 billion, boosted by strength in the food, healthcare and beauty categories. Accessories and apparel performed above average as well.

  • Kroger swings to loss on union costs

    CINCINNATI — Kroger posted a loss in the quarter ended Jan. 28, attributing the loss to costs associated with consolidating its pension plan for union workers.

    The grocer, which counts among its banners Kroger, Ralphs and Food 4 Less, lost $306.9 million in the quarter, compared with a profit of $278.8 million in the year-ago period.

    Total sales in the quarter rose 7.7% to $21.4 billion. Excluding fuel, sales rose 5%. Same-store sales increased 4.9%.

  • Wal-Mart boosts annual dividend 9%

    Bentonville, Ark. -- Wal-Mart Stores Inc. said Thursday it is continuing its annual tradition of increasing shareholder payout by raising its dividend by 9%.

    Wal-Mart will pay a quarterly dividend of 39.75 cents on April 4 to shareholders of record on March 12. That works out to $1.59 per share for the year. The company has increased its dividend every year since its first declared dividend in March 1974.

    According to Wal-Mart president and CEO Mike Duke, the company's U.S. business is back on track, and international results remain strong.

  • Long term direction is clear, short term not so much

    The surge in February same-store sales Target reported Thursday morning didn’t come as a surprise to incoming CFO John Mulligan who alerted the market to the above plan performance when Target reported fourth-quarter results on Feb. 23.

  • Study: More than half of Americans struggle to afford the basics

    New York City -- A study released Thursday by WSL/Strategic Retail found that 52% of Americans are struggling to afford the necessities, and for many even that is a stretch.

    The “How America Shops MegaTrends report, Moving On 2012,” revealed among its significant findings that the youth market, 18-34 year olds, has the highest percent of those who do not have enough money to cover their basic needs, with close to a quarter (24%) in financial turmoil.

  • Shopko and Pamida complete merger, Pamida stores to be converted

    Green Bay Wis. -- General merchandise retailers Shopko Stores and Pamida announced Thursday the completion of their previously announced merger that will create a $3 billion company that serves largely rural communities in 22 states.

    The combined entity will retain the Shopko name. Shopko will be headquartered in Green Bay and Pamida’s corporate headquarters in Omaha, Neb., will be consolidated into the Green Bay office over the next several months.

  • Liz Claiborne swings to Q4 profit on sale of brands, but revenue down

    New York City -- Liz Claiborne Inc. swung to a fourth-quarter profit, buoyed by gains from sales of certain brands and trademarks, including the sale of its namesake brand to J.C. Penney. But the company's total revenue came in well below expectations, hurt by the faltering performance of its Juicy Couture division.

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