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  • Sears Q2 loss widens, more store closings on tap

    Hoffman Estates, Ill. -- Sears Holdings Corp. on Thursday reported a bigger-than-expected loss in its second quarter – the retailer’s ninth consecutive quarterly loss – amid weak sales. The retailer also announced it may close additional stores on top of the 130 closures already underway this year.

    Sears also said Thursday the company plans to explore options with lenders to achieve more long-term capital-structure flexibility in the coming six to 12 months.

  • Gap Q2 profit tops estimates; raises forecast

    San Francisco -- Gap Inc. posted a better-than-expected quarterly profit and sales and raised its full-year profit forecast, helped by strong sales at Old Navy.

    Net profit rose to $332 million in the second quarter ended Aug. 2, from $303 million a year ago.

  • Survey: Back-to-school shoppers rely on mobile for deals

    New York -- Shoppers reliance on mobile devices is reflected in a new back-to-school survey by Retale, a location-based shopping platform aggregating weekly circulars from top line retailers for mobile and digital devices.

    Among parents that own a mobile device (e.g., smartphone, tablet), 73% use them to shop for back-to-school items, with viewing deals (97%) and comparing prices (96%) being the most common mobile shopping activities.

  • Food Lion to remodel 45 Greenville, North Carolina, stores

    Salisbury, N.C. -- Delhaize America banner Food Lion has unveiled a new shopping experience for customers in 31 stores in the greater Wilmington, North Carolina, market, and has announced plans to remodel 45 stores in Greenville as part of the grocery’s "Easy, Fresh and Affordable…You Can Count on Food Lion Every Day" strategy.

  • Target Q2 profit drops 61.7%; cuts full-year forecast

    Minneapolis -- Target Corp. on Wednesday reported a 61.7% drop in Q2 earnings. The chain also lowered slashed its annual profit outlook as it continues to deal with weak results in Canada, sluggish U.S. sales and the lingering effects of its data breach.   

    Target earned $234 million in the quarter ended Aug. 2, down from $611 million in the year-ago period.

    Revenue rose 1.7% to $17.4 billion, slightly above the $17.38 billion analysts had expected.

  • McDonald’s names its first VP of digital in the United States

    New York -- McDonald's named Julia Vander Ploeg as its first VP of digital in the U.S., as part of its ongoing efforts to strengthen its digital presence, Ad Age reported.

    Vander Ploeg will report to company’s chief digital officer, Atif Rafiq, who joined McDonald’s in October.
     

  • Gordmans names former Stage Stores chief exec as CEO

    Omaha, Neb. -- Gordmans Stores has named Andrew T. Hall president and CEO, effective Aug. 19. He also was appointed to the company's board of directors.

    Hall, 53, was president and chief executive officer of Stage Stores, from 2008 to 2012 and served as its president and COO from 2006 to 2008. At Gordmans, he succeeds T. Scott King, Gordmans' chairman of the board, who has been serving as interim president and CEO since March 2014.

  • Overstock.com to allow foreign customers to pay in Bitcoin

    New York -- Overstock.com will allow international customers to pay in Bitcoin, beginning on Sept. 1. The move makes the online retailer, which started accepting Bitcoin for domestic orders in January, the largest American retailer to extend the payment option to foreign customers.

    Overstock plans to introduce a new payments system on its international website, O.co, that will allow customers to make purchases using the virtual currency, the New York Times reported.
     

     

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