Retail

Walmart Buys Stake in Chinese E-commerce Firm

Walmart Buys Stake in Chinese E-commerce Firm

BENTONVILLE, Ark.—Walmart has agreed to purchase a minority stake in Yihaodian, an e-commerce company based in China. A Walmart statement said the transaction is expected to close in 60 days. Founded in July 2008, Yihaodian now offers more than 75,000 SKUs and services its customer base with next-day delivery of items at competitive prices, theMore »

Dillard’s Sets New Bottom-Line Record in First Quarter

Dillard’s Sets New Bottom-Line Record in First Quarter

LITTLE ROCK, Ark.—Dillard’s began its fiscal year by setting a new record in net income—$76.7 million, or 57 percent higher than in last year’s first quarter. Expense controls on various levels provided the key to the department-store retailer’s healthy bottom line. The company reduced operating expenses (comprised of advertising, selling, administrative and general expenses) byMore »

Retail Sales Advance in April

Retail Sales Advance in April

WASHINGTON-April sales by the U.S. retailers totaled $389.4 billion on an adjusted basis, up 0.5 percent over March and 7.6 percent ahead of April 2010, according to the U.S. Census Bureau’s monthly report. It was the 10th consecutive month of retail-sales increases, and was cited by the National Retail Federation as evidence of how theMore »

Kohl’s Boosts First-Quarter Net 6 Percent

Kohl’s Boosts First-Quarter Net 6 Percent

MENOMONEE FALLS, Wis.-First-quarter net income for Kohl’s totaled $211 million, up 6 percent over the first quarter of last year. Kevin Mansell, chairman, president and CEO, attributed the firming of the bottom line to Kohl’s watchfulness over costs. Selling, general and administrative expenses increased 3.2 percent in dollars but just 10 basis points as aMore »

Macy’s Net Income Up 470 Percent in Q1

Macy’s Net Income Up 470 Percent in Q1

CINCINNATI–With net sales up and key expense metrics down, Macy’s reported a 470 percent gain in first-quarter net income, to $131 million. Declaring that the department-store retailer is building a “culture of growth,” Terry Lundgren, chairman, president and CEO, said the company’s results were a combination of “strong top-line sales, disciplined margin and expense management,More »

Surtex Turns Silver

Surtex Turns Silver

By David Gill Trade shows, like people, do a lot of growing up in their first 25 years, and that’s what Surtex has done. The trade show marks its first quarter century this month. In that time, it has grown from a small show featuring European artists and designers to—as GLM, its owner and managerMore »

Walmart, My Hometown’s Hero

Walmart, My Hometown’s Hero

My hometown was replaced by a Walmart—seriously. While critics have complained for years that the nation’s largest retailer ruins town centers, my hometown of Grundy, Va., pinned its economic future on a much-hoped-for Walmart store. After a long wait—I initially wrote about Grundy’s attempts to get a Walmart in 2005—the store is slated for aMore »

Small Steps in the Right Direction

Small Steps in the  Right Direction

There are simply no more excuses for the industry not to step it up a bit. For at least two years, many retailers and suppliers in the home furnishings industry lamented the fact that the recession forced them to hold the line on spending, which limited product introductions and new merchandising programs. The result hasMore »