News

By Robert E. Walters, Theretailequation.com
 

NEW YORK — Macy's Inc., Kohl’s, Saks and Costco’s Wholesale Corp. all reported results that fell short of expectations in April. An early Easter, which helped fuel March results, high gas prices, cool weather and renewed worries about the economy contributed to the decline, according to many analysts.

Brisbane, Calif. -- Women’s apparel retailer Bebe stores reported Thursday that it narrowed its loss for the quarter ended March 31 to $200,000, compared with a $2.6 million loss in the year-earlier period.

Sales climbed 10.5% to $121 million, from $109.5 million. Same-store sales rose 7.2%.

For the remainder of fiscal year 2012, the retailer said it expects to open three 2b stores and close two Bebe stores.
 

MINNEAPOLIS — April same-store sales at Target increased 1.1% and helped the company achieve a 5.3% first-quarter comps increase that was the highest in six years. How much of the performance was due to record warm weather versus good execution of a solid strategy against the back drop of an improved economy is debatable.

Eight new healthcare clinics in Target stores are set to open in two new markets in July as part of the company’s most ambitious expansion of the healthcare initiative since it first began dabbling with clinics.

Four clinics at stores in the Northern Virginia towns of Fairfax, Falls Church, Gainesville and Leesburg are set to open on July 29, the same day as four new clinics in the North Carolina towns of Apex, Wake Forest and Durham, which will get two clinics.

After the pounding Walmart and its president and CEO Mike Duke have taken in recent weeks in the media over the alleged Mexican bribery and cover up scandal detailed by the New York Times, the company and its leader received some good news this week from the Network of Executive Women.

New York -- Macy's Inc., Target Corp., Kohl’s, Saks and Costco’s Wholesale Corp. all reported results that fell short of expectations in April. An early Easter, which helped fuel March results, high gas prices, cool weather and renewed worries about the economy contributed to the decline, according to many analysts.

MINNEAPOLIS — Pete Van Helden, EVP retail operations for Supervalu, will be leaving the company this spring. Taking his place will be Kevin Holt.

"This was a mutually beneficial decision that comes at the right time for both Supervalu and Van Helden, as the company continues to implement its business transformation strategy and as Van Helden moves on to opportunities that will better utilize his strengths," the company stated in a release.