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Retail Industry Newswire
February 8, 2011
North American News 

Ultimate Electronics to Close All Stores

Less than a month after filing for bankruptcy, the Colorado-based electronic store Ultimate Electronics is moving to close all of its 46 stores, including nine stores in Colorado.  Operations manager at the Fort Collins' Ultimate Electronics store, said they will begin liquidation of the store's merchandise by Wednesday and will close the store when they run out of product. 

Coloradoan



Home Depot to Close Stores in Michigan, Other States

Atlanta-based Home Depot says it will close four under-performing stores.  Company spokesman aid the stores are in Holland; Gentilly, La.; Rocky Mount, N.C.; and Greenville, N.C.  The four stores have already begun liquidation sales and will close when their merchandise is gone, in about six weeks.  Home Depot began closing some of its warehouse stores in 2008, when it closed 15 of them. The company has 1,976 stores with plans to open 10 more locations this year.

Detroit Free Press



Kirkland's Reports Fourth Quarter Sales

Net sales for the 13-week period ended January 29, 2011, were $139.6 million compared with $142.8 million for the 13-week period ended January 30, 2010. Net sales for the 52-week period ended January 29, 2011, were $415.3 million compared with $406.2 million for the 52-week period ended January 30, 2010. The Company opened 38 stores and closed 17 during fiscal 2010, ending the year with 300 stores. 

Business Wire



Target, RadioShack Buy Back iPhones, Other Used Gadgets

Major retailers, such as Target and RadioShack, are buying back products from customers in-store and offering credit toward purchase of new products. The retailers are working with a handful of websites that hunt for used gadgets.  Buying back products from customers "drives traffic into the store, and helps tell that we're a place that can provide value above what you could find at another retailer. 

USA Today



Supermarket Experiments with Wine Vending Machine

Though not widely known outside its East Coast 'hoods, the Wegmans supermarket chain seems to stay a step ahead of its competitors.  Its latest innovation is a wine-by-the-glass dispenser in the cafe at its Allentown, Pa., store.  Customers can buy a 5-ounce glass of selected red or white wines with a prepay card for $6 to $10, or a 2.5-ounce pour for about half that.  Wegmans and Whole Foods are becoming strong contenders in casual dining as well as groceries. 

Consumer Affairs



European News 

S Group Reports Solid FY Results

Retail conglomerate S Group has reported solid growth in sales for 2010. For the year, sales were up 6.1% to €10.5bn, with grocery sales up 4.7% to €5.77bn, sales of consumer goods up 10.6% to €1.2bn.  The group said its grocery unit outperformed the wider industry during the year, helped by a positive consumer response to its longer opening hours. It also opened more outlets during the year, including 10 new Prisma stores and 17 new S-markets.

Kam City



Spar Looks to Expand Supermarket Chain

The Austrian arm of global symbol retailer Spar International is to turn its attentions to expanding its network of smaller supermarket stores in the Czech Republic.  Spar currently has four smaller supermarket stores. The retailer said it has plans to build between ten and 12 stores over the next two to three years.  The supermarkets will have a floor space of 900 sq m - the same size as that of discounters Lidl or Penny Market and only slightly less than the Tesco supermarkets.

Just-Food



Lining Up for Growth at Russian Grocery Stores

As outdoor markets and kiosks continue to lose space, supermarkets and hypermarkets gain from their diminishing presence.  The X5 Retail Group, the largest food retailer, plans to open 540 new stores all over the country. Magnit, the supermarket chain with the greatest geographic coverage, is to open 800 convenience stores and 55 hypermarkets. Discount chain Dixy hopes to open 150 convenience stores in Moscow and the regions, and intends to attract customers with a new logo, more efficient operations, sales and discount cards.

The Moscow Times



U.K. and Ireland News 

Morrisons to Expand Into Fashion Retailing

Morrisons is in talks with high street fashion designer George Davies over plans to design the supermarket's first retail fashion line.  According to newspaper reports, the UK's fourth-largest grocery retailer is looking to secure a partnership with Davies to help the company make its first foray into the world of fashion retailing.

Supermarket.co.uk



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Pushout Theft of the Week
Women Busted Carting $1,700 in Stolen Items Out of Watertown Target

 Two women were arrested after they tried to cart more than $1,700 worth of stolen merchandise out of a Watertown Target store.  Police responded to a Target on Arsenal Street where security officers had detained two young women, after they reportedly saw them putting merchandise into Target bags and wheeling them away in two shopping carts.  According to reports, they waited by the Watertown Mall exit and waited until they thought no one was looking before they pushed the carts out of the store. One woman was arrested and charged with larceny over $250. She reportedly had 56 items worth $1,010.08 in her shopping cart. The other was also arrested and charged with larceny over $250. She reportedly had 44 items worth $757.63 in her shopping cart.
  

 

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