Most consumers say they will spend the same amount of money or more on entertainment this year, but that intention might not keep overall sales from slipping if the recession lingers. According to the NPD Group tracking study Entertainment Trends In America, 75 percent of consumers will spend the same amount or more on digital music downloads in 2009 as they did in 2008. While strong, that...
Retail Industry Archive
April 2009
Linda Hefner, newly appointed executive vice president of merchandising and replenishment at Sam’s Club, has an interesting background and one that suggests the operation may be in line for a shake up. Since joining Wal-Mart in spring 2007, Hefner has served as executive vice president and general manager of home, and she supervised the redesign of that department’s merchandising. The...
Mike Duke, new CEO of Wal-Mart, appeared on the Today show this morning and some coverage of his comments might indicate he is predicting a prolonged economic downturn and weakening retail trends. But that’s not what he said. His response, when asked by Today Show host Matt Lauer whether he thought the economic worst was over, was cautious rather than predictive. He said: Actually, I think,...
Fast on the heals of a CVS move to expand online services that provide secure Google Health Account downloads for pharmacy customers, Walgreen announced that it had filled 3.1 million prescriptions electronically in March, a record for the company, representing about 15 percent of all the drugstore chain’s eligible prescriptions and a 211 percent increase compared with March of last year....
Wal-Mart has declared April Earth Month as it continues to press considerations beyond the recession and establish priorities that will drive its business when the economy revives. Consumer purchasing shifts have demonstrated that retailers who offer value-oriented food have fared relatively well in the recession, and Wal-Mart edibles operations have propelled the company to comparable store...
A lot has been written about the phenomenon of trading down from one retailer to another in the recession, but another phenomenon impacting a number of companies is trading down within a portfolio of stores. Nordstrom, for example, operates outlet operations in addition to department stores. Nordstrom Rack outlets appeal to customers who like the department store and the labels it carries but...
Research firm ShopperTrak said Friday that spring started well for retailers, but it isn’t so sunny about the second quarter’s overall prospects. According to ShopperTrak’s National Retail Sales Estimate year-over-year retail revenues increased a slight 0.2 percent for the week ended April 4 and a slightly better 0.6 percent in the previous seven days ended March 28. The consecutive...
CVS is expanding health care services online to make them more comprehensive and accessible to consumers at a time when medical concerns are gaining and other retailers are encroaching on their wellness territory. To improve access to medical information, CVS is expanding a program with Google Health that give its pharmacy customers the ability to securely download prescription and medication...
Wal-Mart today reported that comparable store sales were lower than anticipated by analysts and, during an up day on Wall Street, its stocks lost ground, proving once again that monthly numbers are never so consistent as in their misinterpretation. Wal-Mart got hit – with shares losing almost four percent of their value — based on skepticism about the company’s given reason for why it...
Bed, Bath & Beyond plans to open more of its namesake stores in 2009 than it did in 2008, in part to win customers of now defunct Linens ‘N Things but also to press its plans to dominate the home furnishings retail sector in North America. Despite being slowed by the soft economic environment and liquidation sales at Linens ‘N Things, which had been its major specialty store competitor,...
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