Retail Financial Archive
Higher Gas Prices Fuel Changes in Shopping Behavior
SCHAUMBURG, Ill. — U.S. consumers are compensating for rising gas prices by reducing their spending (63%), combining shopping trips (78%), eating out less (52%) and staying home more often (51%), according to Nielsen Co. research....
Safeway Stock Stumbles on Soft 2Q Sales
PLEASANTON, Calif. — Safeway stock plummeted by more than 10% yesterday after the retailer here said quarterly sales were down — and likely to stay down while the retailer adjusts pricing to better compete during the current economic downturn....
House Committee Passes Interchange-Fee Bill
WASHINGTON — The House Judiciary Committee yesterday approved the Credit Card Fair Fee Act of 2008, a bill that would require merchants and credit card companies to negotiate transaction fees....
High Costs, Slowing Sales Force SimonDelivers to Shut Down
MINNEAPOLIS — SimonDelivers, the Internet grocer here that survived the dot-com bust, succumbed this week to rising gasoline costs and changing consumer habits in a weakening economy. ...
Bill Would Make Organized Theft a Felony
WASHINGTON — Retail associations yesterday praised new legislation that would make it a federal felony to conduct what is known as organized retail crime, or the large-scale theft of product from retailers. ...
Jewel Planning ‘Urban Fresh’ Small-Format Store
MELROSE PARK, Ill. — Jewel-Osco here said Tuesday that it would open a 16,000-square-foot store in Chicago’s Lincoln Park neighborhood under the “Urban Fresh, by Jewel” banner this fall, joining a wave of food retailers testing new smaller formats....
Aldi Launches Recruiting Effort for Florida Invasion
BATAVIA, Ill. — Aldi is preparing for its entrance into Florida with a job recruiting website, aldifloridajobs.com....
Meijer, Produce for Kids Partner in Park Party Events
GRAND RAPIDS, Mich. — Meijer and Produce for Kids have partnered again this year to educate kids and their parents on the health benefits of fresh produce, hosting a tent booth at six “Park Party” events in Western Michigan this summer, sponsored by local ABC affiliate WOTV-4....
Kmart to Close Three Supercenters
HOFFMAN ESTATES, Ill. — Kmart here said it would close four stores — including three Super Kmart supercenters — this fall. ...
Ahold Names Schlicker CEO of Stop & Shop
AMSTERDAM — In a move signaling that a new phase is beginning in the repositioning of its largest U.S. banners, Ahold here has appointed Carl Schlicker as the new president and chief executive officer of Stop & Shop and Giant-Landover. ...
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