News

The 7% same-store sales increase Target reported in February was achieved with only a slight bump in promotional activity, according to the latest monthly data from research firm Market Track. Conversely, the number of ad pages that such competitors as Walmart and Kmart ran increased at twice the rate as Target, while Kohl’s and Macy’s declined. To view Market Track’s recap of February promotional activity at Target and other top retailers, click here.

New York City -- A report released Wednesday by Capital Business Credit said that importers who sell to America's major retailers are preparing for a significant uptick in consumer spending this spring and summer.

DAYTONA BEACH, Fla. — NASCAR has honored Office Depot with the 2011 NASCAR Driving Business Award for its leadership  and results through their participation in the NASCAR Fuel for Business Council (NFFB). 

The award was bestowed upon NASCAR’s Official Office Supply Partner at a ceremony in Las Vegas during the most recent NFFB Council Meeting. Office Depot is also the co-primary sponsor of reigning NASCAR Sprint Cup Series champion, Tony Stewart, and the No. 14 Office Depot/Mobil 1 Chevrolet.

Chain Store Age editor-in-chief Marianne Wilson and I go to great lengths to report new store openings on Chainstoreage.com. We pore through convoluted retail financial statements – sometimes twice daily – to uncover news that a chain has its sights set on even a little net new store growth for the year ahead.

I reported earlier today that Urban Outfitters, despite a challenging fourth quarter that saw profits cut nearly in half from the year before, was planning as many as 60 new stores in fiscal 2013.

Los Angeles -- Guess reported Wednesday that net earnings dipped 7.2% to $95.9 million for the quarter ended Jan. 28, compared with $103.3 million a year earlier.

Revenue for the quarter edged up 2.5% to $775.8 million, from $756.9 million. Same-store sales dropped 5% in the quarter.

The retailer’s greatest strength came from the performance of its Asian segment, which saw revenue surge 27.5% to $70.6 million in the fourth quarter.

The number of eco-labels in the marketplace continues to grow. According to Ecolabelindex (http://www.ecolabelindex.com/, Oct 27), 426 labels circulate in 246 countries and 25 industries. Most commentators are quick to point out the negative consequences: consumer confusion, disinterest and mistrust. However, there is a growing wave of large companies that pursue product certification to appeal to and meet compliance demands from their B2B customers, including retailers.

LOS ANGELES — Movie lovers can now access their favorite DVDs/Blu-ray films on their Internet-connected devices, thanks to a new program from Walmart and its streaming video service, Vudu. 

Burlington, Ontario -- Ikea Canada said that it has turned its focus to sustainability in Canada during a period of expansion in the country.

As the retailer opens three stores this year in Canada, it said it is committed to having this new wave of stores be 40% more efficient than the last store built in 2004.