News

Family Dollar disappointed its investors this week with a third-quarter earning report in which gross margin pressures caused the company to report earnings per share of 91 cents that were four cents shy of analysts’ consensus estimates. The operator of 6,900 stores also said its 4.7% same-store sales increase was short of guidance of 5% to 7% and then used the occasion to lower fourth-quarter sales and earnings forecasts.

Teen apparel retailer rue21 is celebrating the opening of its 700th store, in New Braunfels, Texas. The chain is on track to open 110 locations this year. Commented president and CEO Bob Fisch: “We remain one of the fastest growing retailers in the nation. I would like to thank our real estate, construction and field teams and recognize their hard work, which allows us to celebrate another significant milestone for rue21."
 

CHICAGO — Concerns over the health of the economy are far from over, as evidenced by a SymphonyIRI Group survey released Wednesday that found consumers are taking even more steps to save money due to their ongoing financial concerns, including turning to the Internet in search of the best deals.

List making and coupon clipping are still top of mind for consumers as they struggle with high gas prices and question their job stability. Additionally, the survey uncovered that consumers are turning to the Internet to find the best deals, SymphonyIRI said.

Washington, D.C. -- The National Retail Federation said Thursday that it is disappointed in the final debit card swipe-fee regulations set by the Federal Reserve.

Under the new rule, the current debit card swipe-fee rate of 1%-2% of each transaction will be replaced with a flat fee of not more than 21 cents per transaction for the nation’s largest banks -- substantially higher than the flat fee of up to 12 cents the Fed originally proposed in December 2010.

NEW YORK — Barnes & Noble is promoting the Nook by inviting customers to come into its stores to compare their e-readers with company's own version. Beginning July 1, customers can purchase a Nook, starting at $139, and receive an instant Nook Book collection -- 30 free digital titles valued at $315. 

With sales experiencing the peaks and valleys of a slowly recovering economy, retailers are watching their customers even closer than ever.

According to a study by accounting and consulting firm BDO USO, LLP, New York City, retailers have been less concerned in 2011 about consumer confidence and spending and, instead, are more watchful of consumer demand and interest.

Walmart could be put at a competitive disadvantage in Brazil if a bizarre merger between the company’s two larger rivals proceeds and secures regulatory approval.

The nation’s two largest retailers, Pao de Acucar and France-based Carrefour are attempting to merge their operations in a convoluted deal that has drawn the ire of fellow French retailer Casino, which owns a large stake in Pao de Acucar. 

AMSTERDAM — Ahold has tapped retail veteran James McCann to serve in the newly created role of chief commercial development officer.