Home Depot Continues Resurgence with Strong Q4 GainsHome Depot continues to bounce back from the economic slump of the past three years, after growing US demand helped boost fourth-quarter profit and sales. For the three months to 30 January, net profit at the world's largest home-improvement retailer jumped up 72% to $587m, with sales growing by 3.8% to $15.1bn. Home Depot added that like-for-like sales were up in 49 of the 50 US states, and the average ticket spend was also up in its home market.
Kam City
Unified Grocers Has Weak Start to YearWholesaler Unified Grocers has reported a drop in first-quarter profits and sales, and attributed it to consumer uncertainty. For the three months to 1 January, net profit was down 2.7% to $3.6m, while sales were down 2% to $980.3m. Unified blamed the overall weak economic conditions, adding that customer demand continues to shift towards cheaper products. However, the firm also noted that it grew customer numbers, and added that it was possible "to be successful in this business climate.
Kam City
Hhgregg Eyeing 20 Stores in ChicagoIndianapolis - hhgregg plans to open up the Chicago market this fall with as many as 20 stores. The move would make the Windy City area the largest market for the CE and appliance chain, with 11 percent of its 174 stores. hhgregg has opened 46 stores over the last 12 months and plans to open 35 to 45 more this year. Besides Chicago, the company is planning a push into Miami and Pittsburgh beginning this spring.
Twice
Toys "R" Us Getting into the Toy Development GameToys "R" Us executives are not only checking new products for sale from toy manufacturers, but they are proudly showing off a product they invented and brought to life - wooden cars and play sets based on the Disney movie "Cars." The toys are the result of the Wayne-based retailer's push to have more exclusive, private-label products, and to source such toys directly from Chinese factories. Toys "R" Us is taking the private-label trend to a new level by putting out its own line of a popular Disney license.
North Jersey
Nordstrom Buys 'Flash Sale' Site Aiming to gain a foothold in the hot market for "flash sales," Nordstrom Inc. agreed to buy online retailer HauteLook Inc. HauteLook is one of a group of fast-growing companies that have grabbed a piece of the luxury market by selling clothes, typically at a discount, in limited-time online sales for shoppers who sign up as members. The deal marks the first acquisition of a flash-sale company by a mainstream retailer. It comes as chains are working to expand their online presence.
Wall Street Journal
Toronto Welcomes Big-Box Retailers DowntownWith suburban growth slowed and city populations soaring, stores such as Wal-Mart, Loblaw and Target are changing their focus, modifying their big-box model to squeeze into the high-density Toronto core. The major hindrance to big-box expansion in Toronto has not been attracting customers, but actually finding space big enough to accommodate even miniature versions of stores known primarily for their scale.
The Globe and Mail
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