NEWS ABOUT: retailing
retailing stories: 12 news briefs
Wall Street Journal Jun 26, 09 9:51 AM CDT
(Newser Summary) -
A fundamental shift is going on in the consumer product world as retailers decide that less is more, the Wall Street Journal reports. Big national retailers are expected to slash selection by at least 15%, analysts say. Gone will be 30% of Kroger’s cereals, 20 of the 24 tape measures Wal-Mart sells, and so on. It’s a big curveball for manufacturers accustomed to cranking out variations on their top products.
More »
OPINION
Wouldn't we rather have factories than malls?
Guardian (UK) Dec 20, 08 4:15 PM CST
(Newser Summary) -
These days, it’s patriotic to be a shopaholic. “We neurotically monitor the retailers' latest financial results and our identification with the fortunes of the big stores seems absolute,” writes Andrew Martin of the Guardian . But Martin suspects we’re just waking up to the fundamental absurdity of modern shop-aholic existence: “The logical aim of shopping is surely the removal of the need to go shopping.”
More »
Retail space glut likely to well outlast current economic slowdown
Wall Street Journal Sep 10, 08 10:15 AM CDT
(Newser Summary) -
A decade of rapid expansion by developers and an increase in store closings has created a glut of space in malls that could persist for years, the Wall Street Journal reports. “There were a lot of projects that shouldn't have been built” during the past decade, the CEO of the top US mall-owner says. An upside: Rent is coming down for retailers.
More »
ANALYSIS
Enabling manufacturers to set minimum prices leads to collusion, some say
Wall Street Journal Aug 18, 08 10:57 AM CDT
(Newser Summary) -
A Supreme Court ruling that last year allowed manufacturers to set minimum sale prices for their goods is giving retailers fits, the Wall Street Journal reports. Manufacturers, barred from the practice for nearly a century, are being allowed to punish retailers who discount their products by cutting off supplies. Some retailers are fighting back by steering customers toward other brands.
More »
Luxe jeweler tries to reach younger audience through social networking
New York Times Jul 31, 08 10:03 AM CDT
(Newser Summary) -
Luxury jeweler Cartier has teamed with MySpace in a unique effort to develop a new, younger audience by blending networking, entertainment, and marketing, reports the Wall Street Journal. The move, one of the first by a major luxury brand, may provide a road map for other luxury retailers so far wary of using social networking sites.
More »
Deep-discount fashion retailer can't find rescue funding
Wall Street Journal Jul 9, 08 7:51 AM CDT
(Newser Summary) -
Dress-down discount clothing retailer Steve & Barry’s, which launched its first store nearly a quarter-century ago, could file for Chapter 11 bankruptcy protection as early as today after a fruitless search for rescue financing, reports the Wall Street Journal. The trendy retailer could close all of its 275 outlets, many of which are cavernous anchor stores in financially-squeezed malls.
More »
Retailer finds middle ground with detractors
New York Times Jun 5, 08 10:21 AM CDT
(Newser Summary) -
Wal-Mart, more accustomed to being lambasted than lauded by its critics, is seeing a shift in public opinion, reports the New York Times. The mega-retailer has reached accords with some of its most ardent detractors, even listening to their advice on issues like employee health care. The company, too, has gone green, becoming the largest retailer of energy efficient light bulbs.
More »
Will continue wholesale, catalog businesses; unload $50M in inventory
CNET Jun 2, 08 6:03 AM CDT
(Newser Summary) -
Specialty gadget retailer Sharper Image, purchased Thursday in a bankruptcy auction for $49 million by investment firms Hilco Organization and Gordon Brothers, will close its remaining 86 stores, reports CNet. The new owners say they’ve developed a wide-ranging licensing strategy for the brand and will continue developing the company after unloading some $50 million in inventory. Sharper Image filed for bankruptcy in February.
More »
Consumers cutting deals as economy slows
Los Angeles Times Apr 15, 08 7:05 AM CDT
(Newser Summary) -
Many shoppers might consider haggling a buying technique better suited to a Moroccan carpet bazaar than their local mall, but the practice is picking up steam in the US in the midst of increasing economic woes, reports the Los Angeles Times . Cash-strapped consumers are trying to create bargains rather than hunt them down, and retailers stuck with unsold stock are giving sales staff more leeway to cut deals.
More »
Interbrand says strong 'own-label' is key to international success
Financial Times (UK) Apr 11, 08 9:24 AM CDT
(Newser Summary) -
Swedish clothing chain H&M was named Europe’s most valuable brand in the inaugural ranking of retailers on the continent by Interbrand, the brand consulting firm, reports the Financial Times. H&M’s brand value was placed at $20.7 billion. French retailer Carrefour ($13.2 billion) and Sweden’s Ikea ($13 billion) rounded out the top three. Interbrand said the strength of own-label merchandise was key to a company’s success internationally.
More »
Bankrupt retailer isn't honoring $25M in gift cards
MarketWatch Mar 4, 08 11:00 AM CST
(Newser Summary) -
Consumers holding Sharper Image gift cards are out a collective $25 million after the gadget retailer stopped honoring the cards when it filed for bankruptcy in February, MarketWatch reports. With the shaky economy likely to produce more bankruptcies over the next year or two, consumers would be wise to redeem other cards they may be hoarding.
More »
Sagging fortunes since 2005 merger with Kmart prompts a shakeup
Wall Street Journal Jan 19, 08 6:26 AM CST
(Newser Summary) -
Foundering retailer Sears is hoping yet another change of course can help it sail out of its financial doldrums after watching its stock value drop in half this year and warning investors fourth-quarter earnings would plummet 57% from a year ago, reports the Wall Street Journal. Chairman Edward Lampert plans a reorganization creating as many as three dozen separate operating units.
More »
