PHILADELPHIA— Shares of discount retailer Five Below skidded in aftermarket trading after the company reported disappointing second-quarter sales and offered a soft forecast for the current quarter. Five Below focuses on teen and pre-teen customers, pricing all of its items at $5 or less, and it is opening new stores at a fast clip: At the end of the quarter it...» Read More
May 28- Discount retailer Dollar General Stores Inc said Chief Operating Officer Todd Vasos would replace Rick Dreiling as chief executive, effective June 3.
May 6- Retailer Canadian Tire Corp said it would buy real estate leases for 12 properties previously held by the Canadian unit of Target Corp for $17.7 million. The 12 new locations will add about 400,000 square feet of retail space to Canadian Tire Retail's store network, the company said on Wednesday. Target, the No. 2 U.S. discount chain, exited Canada last month...
LONDON, April 22- Britain's biggest retailer Tesco posted the worst annual loss in its 96- year history on Wednesday after writing down the value of its stores by 4.7 billion pounds. Also hurt by an accounting scandal and sliding sales due to pressure from discounters and a brutal price war the supermarket made a statutory pretax loss of 6.38 billion pounds in...
April 1- Target Corp's Canadian unit said it would close the last of its 133 retail stores on April 12. The No. 2 U.S. discount chain said in January that it would exit Canada after struggling since its March 2013 launch, resulting in 17,000 employees losing their jobs and triggering a $5.1 billion quarterly charge. Minneapolis- based Target faced huge supply chain...
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