Multiline Retail
General Merchandise Stores
WILMINGTON, Del, Sept 19- The U.S. Bankruptcy judge overseeing the Chapter 11 of Toys' R' Us said on Tuesday he would approve the company's request to borrow more than $2 billion to help stabilize the largest U.S. toy chain as it builds inventory for the year-end shopping season. Toys' R' Us filed for bankruptcy Monday, squeezed by online shopping and discount chains.
*Operations outside US, Canada not part of bankruptcy. Sept 18- Toys' R' Us Inc, the largest U.S. toy store chain, filed for bankruptcy protection late Monday, the latest sign of turmoil in the retail industry that is caught in a viselike grip of online shopping and discount chains. Toys' R' Us received a commitment for over $3 billion in debtor-in-possession financing...
Sept 18- Toys' R' Us Inc, the largest U.S. toy store chain, filed for bankruptcy protection on Monday, the latest sign of turmoil in the retail industry caught in a viselike grip of online shopping and discount chains. The retailer's operations outside of the United States and Canada, including about 255 licensed stores and joint venture partnerships in Asia, which...
Sept 18- Toys "R" Us Inc, the largest U.S. toy store chain, filed for bankruptcy protection on Monday, the latest sign of turmoil in the retail industry caught in a viselike grip of online shopping and discount chains. The Chapter 11 filing is among the largest ever by a specialty retailer and casts doubt over the future of the company's approximately 1,600 stores and...
Sept 18- U.S. discount retailer Dollar Tree Inc said on Monday Bob Sasser will be replaced as chief executive by Gary Philbin, the company's enterprise president, effective immediately. Sasser oversaw Dollar Tree's $9.1 billion acquisition of Family Dollar in 2015, making it the biggest dollar store chain in the United States. Dollar Tree's market value rose...
Sept 7- Canada's Dollarama Inc reported a better-than-expected profit for the ninth straight quarter as customers spent more at its dollar stores, helped by its policy to accept credit cards for payments. Customers spent more than twice the amount when shopping with credit cards than they did with cash transactions, Chief Executive Neil Rossy said on a...
The company, which raised its product price ceiling to C $4 last year, faces far less competition in the market than its U.S. peers, allowing it to raise prices and improve margins. In contrast, U.S. retailer Dollar General Corp reported a slide in its second-quarter profit margins, as it cut prices more aggressively to compete with Amazon's Whole Foods Market.
Jeff Lenard, National Association of Convenience Stores vice president of strategic industry initiatives, discusses higher gas prices from Hurricane Harvey impacting convenience stores.
ISTANBUL, Aug 21- Turkish discount retailer Sok is planning an initial public offering in 2018, two sources familiar with the matter told Reuters, the latest sign that Turkey's IPO market may be coming back to life. Sok, with more than 4,700 stores and 21,000 employees, is one of Turkey's biggest discount retailers, selling groceries, fresh produce and household...
CHICAGO, Aug 17- Wal-Mart Stores Inc warned on Thursday that this quarter's earnings could miss Wall Street's estimates as the world's biggest retailer struggles with falling margins due to price-cutting and heavy spending on its e-commerce operations. Wal-Mart has also been cutting grocery prices to remain competitive against discounters like...
The upscale Seattle- based clothing and accessories retailer also slightly raised its full-year earnings forecast to $2.85- $3 per share from $2.75- $3 per share, and said it now expected net sales for the year to increase about 4 percent instead of 3-4 percent. Nordstrom, which has fought back by investing in its own off-price discount chain, Nordstrom Rack, said...
June 15- Dollar Tree Inc's plan to more than quadruple its store count in Canada, as it fights rising competition and slowing sales growth back home, is fraught with risks and will pit it against a formidable rival- market leader Dollarama. Chesapeake, Virginia- based Dollar Tree, which operates 226 stores in Canada, said in March it planned to open 1,000 stores in...
WASHINGTON, June 6- U.S. discount retailer Dollar Tree Inc has filed a lawsuit against Dollar Express which was unsealed on Tuesday, alleging that the smaller company's private equity owners siphoned off funds and failed to pay for $50 million in goods and services. Dollar Express was formed in 2015 when Sycamore Partners II LP bought some 330 stores in 35 states...
WASHINGTON, June 6- U.S. discount retailer Dollar Tree Inc filed a countersuit against Dollar Express on Tuesday, alleging that the smaller company's private equity owners siphoned off funds and failed to pay for $50 million in goods and services. Dollar Express was formed in 2015 when Sycamore Partners II LP bought some 330 stores in 35 states from Family...
WASHINGTON, June 2- U.S. discount retailer Dollar Express has filed a lawsuit accusing rival Family Dollar and its parent company Dollar Tree Inc of driving it out of business, the third government-required divestiture to fail in recent years. Dollar Express was formed in 2015 when private equity group Sycamore Partners II LP bought some 330 stores in 35 states...
CHICAGO, May 18- Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as investments to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted online purchases, sending its shares flirting near a 52- week high. Wal-Mart and analysts said the company is...
CHICAGO, May 18- Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as a huge investment to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted online purchases, sending its shares to a 52- week high. "Wal-Mart's long string of investments in labor and...
CHICAGO, May 18- Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as more customers visited the discount retailer and its e-commerce push boosted online purchases, sending its shares up 1.3 percent in early trade. Wal-Mart's strong results show the retailer is benefiting from its $2.7 billion...
LONDON, May 3- British supermarket Sainsbury's on Wednesday reported a third straight year of underlying profit decline, despite the boost to earnings from last year's purchase of Argos, the general merchandise retailer. Sainsbury's, which trails market leader Tesco in annual sales, also cautioned that it saw no let-up in the intensely competitive UK market...
LONDON, May 3- British supermarket Sainsbury's on Wednesday reported a third straight year of underlying profit decline, despite the boost to earnings from last year's purchase of Argos, the general merchandise retailer. Sainsbury's, which trails market leader Tesco in annual sales, made an underlying pretax profit of 581 million pounds in the year to March 11.
