Retail

Dollar General Net Rises 6.5 Percent in Fourth Quarter

Dollar General Net Rises 6.5 Percent in Fourth Quarter

GOODLETTSVILLE, Tenn.–Net income for Dollar General in its fiscal fourth quarter totaled $87.2 million, 6.5 percent up from the fourth quarter of last year. The chain managed this increase partly through an 11.9 percent gain in net sales, which were $3.2 billion in the fourth quarter and which included a 7.4 percent hike in same-storeMore »

Consumer Confidence Rebounds in March

Consumer Confidence Rebounds in March

NEW YORK–After a 10.5-point dive in February, the consumer confidence index made something of a recovery this month. As compiled by The Conference Board, the index rose 6.1 points to 52.5 in March. Both of the component indices, present situations and expectations, made significant gains as well—with the present situations index picking up 4.3 pointsMore »

FTC Clears Way for Walgreens to Acquire Duane Reade

FTC Clears Way for Walgreens to Acquire Duane Reade

DEERFIELD, Ill.–Walgreens said it has received the regulatory clearance from the U.S. Federal Trade Commission to complete its acquisition of Duane Reade. On Feb. 17, Walgreens signed a definitive agreement to purchase Duane Reade from affiliates of Oak Hill Capital Partners. The cash transaction will give Walgreens all 257 Duane Reade drugstores, along with theMore »

Meijer Debuts Katie Brown Home Line

Meijer Debuts Katie Brown Home Line

GRAND RAPIDS, Mich.–Meijer plans to launch a new collection of home products created by Katie Brown, the lifestyle expert and national television personality. The retailer said the line is slated to launch at all 191 Meijer stores this month. It encompasses two groupings, the Orchard collection and the Northern Shore collection. The initial rollout willMore »

Belk Spring Sale to Help Charities and Schools

Belk Spring Sale to Help Charities and Schools

CHARLOTTE, N.C.–Belk Inc. is planning to hold a charity sale on May 1, which will benefit local charities, schools and non-profit organizations throughout the department-store retailer’s 16-state market. The sale is scheduled to take place from 6 to 10 a.m. In exchange for a $5 donation, shoppers will receive tickets admitting them to the saleMore »

Western Furniture Opens Dubai Flagship With Lexington Gallery

Western Furniture Opens Dubai Flagship With Lexington Gallery

DUBAI, U.A.R.–Western Furniture opened its flagship store here earlier this month with a gala ceremony attended by more than 400 people. A highlight of the new store is a Lexington Home Brands gallery representing the largest presentation of the brand in the region. “Dubai is a dynamic and vibrant international destination,” said Phil Haney, presidentMore »

Takashimaya New York to Close

Takashimaya New York to Close

NEW YORK–Takashimaya is closing its New York store in June. The store, located on Fifth Avenue, will close its doors in June, according to a statement on the company’s Web site. Online shopping, the statement said, will close on April 2. The upscale shop opened in 1993. Also, Takashimaya said yesterday that it has cancelledMore »

Best Buy Net Jumps 37 Percent in Fourth Quarter

Best Buy Net Jumps 37 Percent in Fourth Quarter

MINNEAPOLIS–Net income for Best Buy totaled $779 million in the fourth quarter, a whopping 37 percent ahead of the fourth quarter in its last fiscal year. According to a company statement, the consumer-electronics chain accomplished this partly on a net sales increase of 12.4 percent, to $16.6 billion—a pickup that included a 7 percent riseMore »