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Retail

  • Rite Aid comps increase 2.9% in October

    CAMP HILL, Pa. — Same-store sales at Rite Aid increased by 2.9% in October, compared with last October, the retail pharmacy chain said Thursday.

    The increase included a 1.3% increase in same-store sales on the front end, as well as a 3.6% increase in pharmacy same-store sales, including a negative offset of about 160 basis points due to the introduction of new generic drugs.

    Total sales for the month were nearly $2 billion, a 2.8% increase over October 2010's $1.9 billion.

  • Sales, profits accelerate at O'Reilly Automotive

    SPRINGFIELD, Mo. — A down economy means people are less likely to buy new cars, which means they will need to take care of the ones they do have, and that's good news for companies like O'Reilly Automotive, which reported sales and earnings growth for the third quarter.

  • Pet Supplies Plus executive chairman retires

    FARMINGTON HILLS, Mich. — Pet Supplies Plus, the third-largest pet specialty retailer in the United States, announced that Harvey Solway, executive chairman of the company, is retiring effective Dec. 31.

    Solway, 60, began his twenty-year career with Pet Supplies Plus as EVP and general counsel and served as the company's CEO from January 1993 through June 2011. Solway led PSP through its formative years and was instrumental in growing the business to its 92 corporate and 159 franchise stores today, the company reported. 

  • Price leadership not so steady

    Citigroup found that toy prices at both Walmart and Target fell by 4% and that the price gap between the two retailers on toys has narrowed since its first survey.

    According to Ciitgroup, retail prices of a basket of “hot” toys for holiday 2011 are now 30 bps cheaper at Walmart than at Target, compared with 50 bps cheaper at Walmart in its previous survey. However, taking into account Target’s 5% rewards discount, the basket of toys became 470 bps more expensive at Walmart, compared with 450 bps more expensive in the previous survey.

  • Dollar General goes on toy offensive

    GOODLETTSVILLE, Tenn. — Dollar General announced that it is going to head-to-head with toy retailers and discounters alike by offering more than 300 toys for $5 or less.

    "Customers will find the toys their children want at great prices at Dollar General," said Todd Vasos, Dollar General's chief merchandising officer. "We've worked hard all year to bring our shoppers an exciting toy assortment this season. Our toy department features many new toys and twice the number of licensed toys compared to previous years."

  • Deloitte: Consumers still spending on holidays despite economic concern

    NEW YORK — Despite concerns about the economy and rising household expenses, nearly 3-out-of-5 consumers (59%) will put aside economic worries and spend the same or more this holiday season, according to Deloitte’s 26th annual survey of holiday spending intentions and trends. While this is a slight decline from 2010, it represents an eight percentage point increase from 2009.

  • Sears Holdings goes local with ads service

    HOFFMAN ESTATES, Ill. — Sears Holdings announced that it is customizing the shopping experience even more for its customers by providing them with  new digital local ads available on searslocalad.com and kmartlocalad.com.  

  • RadioShack posts 3Q earnings slump

    FORT WORTH, Texas — RadioShack's transition from offering T-Mobile products and services to offering those of Verizon Wireless took a toll on the company's third quarter profits, though overall sales managed to increase.

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