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Mass Merchant

  • RadioShack Q3 profit falls, misses Street

    Fort Worth, Texas -- RadioShack Corp. reported Tuesday that profit for the quarter ended Sept. 30 plummeted to $300,000, compared with earnings of $46 million in the year-ago period. The retailer cited the transition from T-Mobile offerings to Verizon Wireless as a major reason for the performance decline, although that was offset somewhat by new mobile service and sales centers in Target stores. The company launched Verizon Wireless in more than 4,400 stores on Sept. 15, as well as ramped up its Target Mobile centers rollout in the same period.

  • Toys ‘R’ Us to debut in Poland

    Wayne, N.J. -- Toys “R” Us said Wednesday it will make its debut in Poland at the end of November, opening a store in Warsaw.

    The company, which currently operates 300+ stores in Europe, said it will add several additional locations in major cities throughout Poland in 2012.

  • Office Depot profit doubles on one-time gains; adjusted results miss Street

    Boca Raton, Fla. -- Office Depot's fiscal third-quarter net income more than doubled, but its adjusted results missed analysts’ expectations amid sales declines in North America.

    The company earned $91.7 million for the period ended Sept. 24, compared with $32 million a year earlier. But excluding $6 million in restructuring charges and other costs and a $99 million tax benefit, the company lost about $700,000, or break-even per share.

  • Survey: Apple brands dominate youth market

    New York City -- Apple brands dominate the youth market, and account for the top rankings in computers, tablets and mobile phones, according to the 2012 Harris Poll Youth EquiTrend study by Harris Interactive. The annual study tracks the brands that Americans aged 13 to 24 prefer. It estimates that

    With young Americans expected to spend $211 billion in 2012, knowing which brands they favor will help corporate America prepare for the upcoming holiday season, according to the survey.

  • Report: Costco's donations to Washington state initiative break records

    Issaquah, Wash. — Costco Wholesale's donations to a Washington state voter initiative that would legalize liquor sales by private retailers have broken state records, according to published reports.

  • Walmart support helps build National Museum of African American History and Culture

    BENTONVILLE, Ark. — Walmart announced that it has donated $5 million to the Smithsonian Institution to support the construction of the National Museum of African American History and Culture (NMAAHC) in Washington, D.C.

    The NMAAHC was established in 2003 by Congress, making it the 19th Smithsonian Institution museum. It will be the only national museum devoted exclusively to the documentation of African-American life, art, history and culture.

  • Toys ‘R’ Us to run 10% back holiday promo

    Wayne, N.J. -- Toys “R” Us will again give its loyalty rewards members 10% back on holiday purchases.

    The offer, whereby members of the chain’s rewards club get 10% back in “R Us” dollars for each dollar spent on qualifying purchases, is available from Oct. 30 through Christmas Eve. The promotional dollars will be sent to customers via email in January and can be used on future in-store purchases.

  • Target website down for two hours on Tuesday

    Minneapolis -- Target Corp. confirmed Tuesday that its website crashed for the second time in six weeks, going down at approximately 12:50 p.m. EDT and then coming back up two hours later, at 2:50 p.m. EDT.

    Target.com also crashed on Sept. 13, after the retailer’s online introduction of its new line of Missoni apparel and items.

    Target has not yet said what caused Tuesday’s crash.
     

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