Content about Associated Press

August 2, 2012

Mixed bag for retailers in July: Discounters shine, teen retailers disappoint

Many retailers reported better-than-expected results in July as warm weather and clearance sales drew shoppers into stores.

NEW YORK — Many retailers reported better-than-expected results in July as warm weather and clearance sales drew shoppers into stores. Thomson Reuters reported that three-quarters of retailers reported results beat expectations. Costco Wholesale Corp., Target Corp., Limited Brands and Gap Inc. all reported gains above expectations.

May 16, 2012

Circulars in the Digital Age

The steady erosion of newspaper circulations naturally has led many to predict that the printed ad circular is not much long for this world and will quickly disappear as consumers demand more digitized ads and coupons. Last year, the Associated Press, along with 32 other publishers and 30 retailers, launched iCircular to help stave off declining ad revenue. Even Google has jumped into the fray with the launch of Google Circulars, a service that creates digital versions of full-page print inserts normally found in newspapers, with the goal of “trying to get online visitors into [offline] stores.” From the stark decline in demand for print publications, it appears that printed circulars are well on their way to extinction…or are they?

December 23, 2011

Recall first, ask questions later

Enfamil Newborn baby formula was quickly pulled from shelves at 3,000 Walmart stores earlier this week following the death of an infant in Missouri, the Associated Press reported.

November 3, 2011

October sales generally up, but short of estimates

With fewer retailers following in Walmart's footsteps in not disclosing monthly sales, it has become harder to gauge the overall health of the industry.

NEW YORK — With fewer retailers following in Walmart's footsteps in not disclosing monthly sales, it has become harder to gauge the overall health of the industry. Still, enough of them reported this monht to show that consumer spending slowed in October, sending a note of caution as retailers head into the holiday season. Eleven retailers missed expectations for same-store sales, while three chains beat estimates, according to a preliminary tally by Thomson Reuters.

November 3, 2011

October sales generally up, but short of estimates

Consumer spending slowed in October, sending a note of caution as retailers head into the holiday season.

NEW YORK — Consumer spending slowed in October, sending a note of caution as retailers head into the holiday season. Eleven retailers missed expectations for same-store sales, while three chains beat estimates, according to a preliminary tally by Thomson Reuters. However, while the October results were not as promising as some retailers had hoped, sales for the most part rose and most chains reported results that were only slightly off from analysts’ estimates. Some analysts blamed Wall Street for underestimating how much caution is still out there.

October 4, 2011

First Lady has another reason to shop at Target

The Associated Press reported last week that First Lady Michelle Obama was sighted shopping incognito at a D.C. area Target store wearing a baseball cap and sunglasses.

The Associated Press reported last week that First Lady Michelle Obama was sighted shopping incognito at a D.C. area Target store wearing a baseball cap and sunglasses. Secret Service agents arrived about a half-hour before Mrs. Obama, who walked in through the main entrance with an assistant and spent 30 to 40 minutes shopping and pushing her own cart, according to AP.

June 21, 2011

Borders hopes to name bidder by July 1

Borders Group hopes to name a bidder by July 1 and sell itself by the end of that month, according to bankruptcy court filings, the Associated Press reported.

NEW YORK — Borders Group hopes to name a bidder by July 1 and sell itself by the end of that month, according to bankruptcy court filings, the Associated Press reported. Forty stores previously targeted for closing are also getting a temporary reprieve.

The retailer said in papers filed Friday it plans to name a "stalking horse" bidder by July 1. The company said an auction is likely on July 19, with a sale hearing on July 22 and sale closing on July 29.

June 17, 2011

Borders extends leases on 11 stores

Borders Group has reached agreements with its landlords to extend the leases on 11 stores it had previously asked a bankruptucy court to shutter, the Associated Press reported.

NEW YORK — Borders Group has reached agreements with its landlords to extend the leases on 11 stores it had previously asked a bankruptucy court to shutter, the Associated Press reported.

Last week, the chain asked permission to start liquidating 51 stores because of a condition for its financing. But it said at the time it was actively working to keep them open.

May 17, 2011

Report: Wal-Mart and Massmart may end talks

Wal-Mart Stores may give up its quest to buy a controlling stake in South Africa’s Massmart Holdings Ltd., if South Africa forces local procurement conditions on the retailers, the companies said, the Associated Press reported.

NEW YORK — Wal-Mart Stores may give up its quest to buy a controlling stake in South Africa’s Massmart Holdings Ltd., if South Africa forces local procurement conditions on the retailers, the companies said, the Associated Press reported.

May 9, 2011

CVS Caremark discloses SEC inquiry

CVS Caremark Corp. is disclosing another government inquiry into its business, as the company said the Securities and Exchange Commission has requested documents related to its Caremark pharmacy benefits management unit, the Associated Press reported.

NEW YORK — CVS Caremark Corp. is disclosing another government inquiry into its business, as the company said the Securities and Exchange Commission has requested documents related to its Caremark pharmacy benefits management unit, the Associated Press reported.

The company said it received a subpoena from the SEC on Feb. 28.

The agency asked for corporate records on several issues, including public disclosures in 2009 related to pharmacy benefits management and its Medicare Part D prescription-drug benefit businesses.

April 22, 2011

Report: Woman seeks class-action against Target over debt-collection methods

A Western Pennsylvania woman filed a federal lawsuit last week against Target Corp. and its law firm over the chain's debt-collection practices, the Associated Press reported. The woman claims false affidavits were used to go after customers who allegedly owed money to a subsidiary bank that issues the store's credit cards.

NEW YORK -- A Western Pennsylvania woman filed a federal lawsuit Wednesday against Target Corp. and its law firm over the chain's debt-collection practices, the Associated Press reported. The woman claims false affidavits were used to go after customers who allegedly owed money to a subsidiary bank that issues the store's credit cards.

April 8, 2011

Judge allows gay rights group to protest outside Target

A judge ruled Thursday that a San Diego pro-gay marriage group can continue canvassing outside of Target stores in California, the Associated Press reported.

NEW YORK -- A judge ruled Thursday that a San Diego pro-gay marriage group can continue canvassing outside of Target stores in California, the Associated Press reported. However, protestors must stay 30 ft. away from store entrances and canvass at just one entrance at a time.

The retailer had sought an injunction barring the activists from every outlet in the state, alleging they harass customers by cornering them near store entrances to discuss gay marriage, solicit donations and collect signatures on petitions.

April 4, 2011

Report: Blockbuster battle begins

Several bidders, including Dish Network Corp. and billionaire investor Carl Icahn, are ready to battle for Blockbuster at a bankruptcy auction in New York on Monday, the Associated Press reported.

NEW YORK -- Several bidders, including Dish Network Corp. and billionaire investor Carl Icahn, are ready to battle for Blockbuster at a bankruptcy auction in New York on Monday, the Associated Press reported. The chain, which filed Chapter 11 in February, has received several bids other than the opening bid of $290 million from a group of debtholders made in February.

Dish and Icahn have each submitted a bid, The Wall Street Journal reported Friday.

March 30, 2011

Wal-Mart sex discrimination case hits possible court block by Supreme Court

A report released Tuesday by the Associated Press said that the U.S. Supreme Court may block a massive sex discrimination lawsuit against Wal-Mart on behalf of at least 500,000 women, and that could make it harder for other workers nationwide to bring class-action claims against large employers.

WASHINGTON -- A report released Tuesday by the Associated Press said that the U.S. Supreme Court may block a massive sex discrimination lawsuit against Wal-Mart on behalf of at least 500,000 women, and that could make it harder for other workers nationwide to bring class-action claims against large employers.

The 10-year-old lawsuit, argued at the Supreme Court on Tuesday, claims that Wal-Mart Stores favors men over women in pay and promotions. Billions of dollars are at stake if it is allowed to go forward as a class action suit.

March 24, 2011

A low price love affair

It seems like this kind of stuff only happens at Walmart. A female employee at a Walmart store in Naples, Fla. bit off the tip of a co-worker’s ring finger during a fight over an alleged affair, the Associated Press reported this week. Collier County Sheriff’s deputies said they charged 43-year-old Clodia Coicour with aggravated battery stemming from the incident that took place outside the store where they both worked. The AP reported that the victim told deputies she was walking to her car after her shift ended when Coicour doused her with pepper spray and a fight ensured.

March 11, 2011

Recognizing the value of a dollar store

Discount store retailer 99 Cents Only Stores has received a proposal to take the company private from the company's founding family and investment firm Leonard Green & Partners LP for $19.09 per share, the Associated Press reported.

CITY OF COMMERCE, Calif. — First it was Family Dollar, now 99 Cents Only Stores finds itself in buyout talks, as investors are seeing the value in discount store chains.

The company has received a proposal to take the company private from the company's founding family and investment firm Leonard Green & Partners LP for $19.09 per share, the Associated Press reported.

March 3, 2011

Creditors object to Blockbuster’s plan to sell itself

Some landlords, vendors and other unsecured creditors of Blockbuster are objecting to Blockbuster's plan to sell itself because they fear they won't be paid what they are owed, according to the Associated Press.

NEW YORK -- Some landlords, vendors and other unsecured creditors of Blockbuster are objecting to Blockbuster's plan to sell itself because they fear they won't be paid what they are owed, according to the Associated Press.

A hearing to approve the stalking horse bid and auction was originally scheduled for Wednesday, but was postponed late Tuesday until March 10 while the judge considers the objections.

February 18, 2011

A new approach to guide political donations

The Associated Press is reporting that Target has revised its policy governing political donations following a flap last year that tarnished the company’s progressive image.

The Associated Press is reporting that Target has revised its policy governing political donations following a flap last year that tarnished the company’s progressive image. Target drew the wrath of gay rights activists after it was revealed the company donated $150,000 to a business group that supported Minnesota’s conservative Republican gubernatorial candidate Tom Emmer who is an opponent of gay marriage and other gay rights initiatives.

February 3, 2011

San Diego repeals limits on Walmart Supercenters

The City Council of San Diego repealed strict limits on new retail supercenters Tuesday amid concerns over the cost of a ballot measure forced by a Walmart-led petition drive, the Associated Press reported.

NEW YORK -- The City Council of San Diego repealed strict limits on new retail supercenters Tuesday amid concerns over the cost of a ballot measure forced by a Walmart-led petition drive, the Associated Press reported.

The 7-1 vote came less than two months after the council required retailers such as Walmart to study how so-called "big-box" stores would affect the economy and traffic. Opponents of the measure said it amounted to a ban.

January 21, 2011

Amazon buys European movie rental service Lovefilm

Amazon.com said Thursday it is buying Lovefilm, a European movie rental service akin to Netflix, according to a report by the Associated Press.

NEW YORK -- Amazon.com said Thursday it is buying Lovefilm, a European movie rental service akin to Netflix, according to a report by the Associated Press.

Terms of the acquisition were not disclosed.

Lovefilm operates in the United Kingdom, Germany, Sweden, Norway and Denmark. Much like Netflix, it is a subscription-based service through which people can rent movies by mail or watch them on TV or any other device with a high-speed Internet connection. The company also offers TV shows and games.

January 6, 2011

Sales mixed in December; Limited and Abercrombie lead specialty field

After coming off a strong November, retailers found their momentum waned in December, with many turning in mixed sales for the month. Industry experts said sales were impacted by a still-cautious consumer and the blizzard the crippled the Northeast in the days immediately following Christmas.

NEW YORK - After coming off a strong November, U.S. retailers found their momentum largely waned in December, with sales impacted by a still-cautious consumer, early discounting and a blizzard that crippled the Northeast in the days immediately after Christmas. But while many chains missed Wall Street’s heightened expectations for December, the retail industry still turned in its strongest holiday performance since 2006.

October 28, 2010

Wal-Mart considering smaller stake in South African retailer

New York City - Wal-Mart Stores is considering taking a smaller stake in South African retailer Massmart Holdings Ltd. to keep its listing on the Johannesburg Stock Exchange, the Associated Press reported.

Massmart said Thursday that Wal-Mart informed the company that it may now make a partial offer to buy more than 50% of the company for 148 rands ($21.06) per share.

In September Wal-Mart offered to buy all of Massmart for about $4.25 billion.