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  • Amazon posts record-setting 51% increase in Q2 sales, profits drop

    Seattle -- Amazon reported Tuesday that sales for the quarter ended June 30 soared 51% to $9.9 billion.

    Profits dipped 8% to $191 million from $207 million on surging operating costs, but still beat Wall Street expectations.

  • Office Depot soldiers on amid weak economy

    BOCA RATON, Fla. — Second-quarter results from Office Depot reveal ongoing challenges in an economy still struggling to regain its footing.

  • Books-A-Million abandons bid to buy 30 Borders stores

    Birmingham, Ala. -- Books-A-Million said late Monday that it was unable to put a deal together to acquire the leases and assets of 30 Borders bookstores out of bankruptcy.

    "The company’s efforts to secure the inventory, fixtures, equipment and leasehold interests for 30 Borders stores has ended unsuccessfully because the parties could not agree on terms and the going out of business sales at these locations commenced," Clyde B. Anderson, Books-A-Million CEO, said.

  • Wal-Mart’s path into India may be getting easier

    New Delhi, India -- A Monday report by Bloomberg said that an Indian governmental panel recommended easing market-entry restrictions, making Wal-Mart Stores’ and Carrefour SA’s path into the India retail market potentially much easier.

    Citing a finance ministry official as its source, Bloomberg reported that a panel of New Delhi bureaucrats recommended on Friday that overseas companies be allowed to own up to 51% of stores that sell more than one brand if they invest a minimum of $100 million.

  • Bet your 'Bottom Dollar' grocery chain expanding

    SALISBURY, N.C. — Discount grocery chain Bottom Dollar Food announced plans to enter the greater Pittsburgh and Youngstown, Ohio, markets.

    The expansion includes 14 stores that will open in 2012 and is said to create more than 600 jobs.

  • Bottom Dollar Food grocery chain expanding

    Salisbury, N.C. -- Discount grocery chain Bottom Dollar Food announced Monday plans to enter the greater Pittsburgh and Youngstown, Ohio, markets.

    The expansion includes 14 stores that will open in 2012 and slated to create more than 600 jobs.

  • Supervalu names president of independent business organization

    MINNEAPOLIS — Supervalu announced that it has named Leon Bergmann as president of its independent business organization, reporting to Craig Herkert, CEO and president. He replaces Mark Anderson, who will be retiring from Supervalu later this summer.

  • Nordstrom Rack to open in Farmington, Conn.

    New York City -- Nordstrom plans to open a Nordstrom Rack in Farmington, Conn., located just outside of Hartford. This will be the first Nordstrom Rack in Connecticut.

    The new 35,000 sq-ft. store is scheduled to open during spring 2012 at West Farm Shopping Center.
     

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