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Retail

  • Report: Showrooming here to stay

    Indianapolis -- One-in-five consumers is now "showrooming," according to new research by Aprimo, a Teradata in collaboration with Forrester Research analyst Sucharita Mulpuru. Of those consumers already showrooming, 33% say they ultimately used the information to buy elsewhere. The trend is only expected to continue growing, too, as 96% say they plan to use their smart phone to research prices the same way or more in the future.

  • Kroger Co. to buy specialty pharmacy company

    Cincinnati -- The Kroger Co. said Thursday it will buy specialty pharmacy company Axium Pharmacy Holdings for undisclosed terms.

    Axium is one of the nation's largest independent providers of specialty pharmacy services, offering a range of clinical services to patients with complex chronic conditions. Through its additional pharmacy locations in Puerto Rico, Tennessee and Mississippi, Axium provides comprehensive specialty pharmacy services to patients.

  • Walmart Q3 sales miss Street, profit rises year-over-year

    Bentonville, Ark. -- Wal-Mart Stores Inc. reported Thursday net income of $3.64 billion for the quarter ended Oct. 31, up from $3.34 billion in the year-ago period.

    Sales rose 3.4% to $113.20 billion, as U.S. sales beat internal expectations but overall missed Wall Street’s expected $114.96 in revenue.

    Wal-Mart U.S. saw same-store sales rise 1.5%, marking the fifth consecutive quarter of same-store sales growth after nine straight quarterly declines. At Sam’s Club, same-store sales rose 2.7%, excluding fuel.

  • Hot Topic Q3 profit leaps 38%

    City of Industry, Calif. -- Hot Topic Inc. reported Wednesday that profit for the third quarter jumped 38% to $4.3 million, from $3.1 million in the year-ago quarter.

    Revenue edged up 2% to $179.4 million from $175.8 million, missing Wall Street’s expected $182.9 million in revenue.

    Same-store sales rose a slight 0.2%.

     

  • Sean John names Jeffrey Tweedy to top role

    NEW YORK, N.Y. — Sean John Corporate has named Jeff Tweedy as the fashion brand’s new president, effective immediately. Tweedy will report directly to Sean John chairman and founder Sean "Diddy" Combs, and will be responsible for all aspects of the company's operations, including strategic brand development, design and all the Sean John licensing and retail partners.

  • Tommy Bahama prepares to open Fifth Ave. flagship

    New York -- Tommy Bahama Group Inc. said Thursday its first Tommy Bahama global flagship store will open on Nov. 17 at 551 Fifth Avenue in Manhattan.

  • Nestle Waters North America names new president and CEO

    STAMFORD, Conn. — Nestle Waters North America has named Tim Brown as its new president and CEO. Brown replaces current Nestle Waters North America president and CEO Kim Jeffery, who plans to assume a non-executive chairman position effective Feb. 1, 2013.

  • BDO Survey: Retailers anticipate 3.1% increase in Black Friday sales

    Chicago -- Retailers project a 3.1% increase in sales on Black Friday, according to a survey of top retail chief marketing officers by BDO USA, LLP. This optimism follows last year's modest projection of 1.6% growth, which preceded record sales over Thanksgiving weekend.

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