Wal-Mart is in talks to buy South Africa’s Massmart, a $4 billion deal that would give the U.S. retailer a big presence in fast-growing Africa and boost its emerging markets strategy. Get the full story »
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Illinois appliance rebate program already over
Home Depot saleswoman Susan McKenzie, left, explains the appliance rebate program to customer Angel Robles of Chicago. (Antonio Perez/Chicago Tribune)
Anyone hoping to cash in on Friday’s federal stimulus money which allowed for a 15 percent discount on energy-saving appliances had to show up to stores early — very early.
The Illinois Retail Merchants Association confirmed this morning that the $3 million in federal money to support energy-efficient appliances was gone in about two hours. The group shut the program down at 10:30 a.m.
“This made Black Friday look like a Tuesday in July,” Illinois Retail Merchants Association President David F. Vite said in a statement. “Sales have never been so brisk in Illinois.” Get the full story »
Wal-Mart pledges to be price leader for toys
Wal-Mart Stores Inc. is optimistic about demand for toys this holiday season and will stay “absolutely committed” to win on price in the segment, the world’s largest retailer told Reuters.
“In toys this year, we will be just as competitive on price as we have always been,” Laura Phillips, Wal-Mart’s vice president of toys said in an interview. Get the full story »
Target to start carrying iPad in October
Target Corp. says it will begin carrying four models of Apple Inc.’s iPad, starting at $499. The nation’s second-largest discount chain says it will start selling the touchscreen tablet computer Oct. 3. The iPad will be covered under the retailer’s 5 percent discount for store credit-card holders, which rolls out Oct. 17.
Early bird gets today’s appliance rebates
By Kristin Samuelson and Julie Wernau | If you missed your opportunity in April to take advantage of the government rebates on new energy-efficient appliances, today’s your lucky day. But you better move fast.
The state of Illinois is offering consumers approximately $3 million in rebate money to replace their old clothes washer, dishwasher, freezer, or refrigerator with a new Energy Star qualified model at participating stores starting at 8 a.m. Friday. The rebates will provide a 15 percent discount (up to $250) on the appliances, but you have to act fast because the rebate program will stop once the funding runs out.
Sears to open 85 toy shops ahead of holidays
U.S. retailer Sears Holdings Corp. plans to launch 85 toy shops in select U.S. markets next month as it looks for a bigger bite of the holiday sales pie, a senior executive said.
The move from the operator of Sears department stores and the Kmart discount chain comes as competition heats up in the toy retail arena ahead of the biggest selling season of the year. Get the full story »
Macy’s hiring more holiday help
Macy’s Inc. said it plans to hire about 65,000 seasonal staff for the holiday season — a slight increase from previous years. The rise in hiring reflects Macy’s expectation that same-store sales will grow 3-3.5 percent in the second half of fiscal 2010, the company said in a statement. Get the full story »
Sears.com teams up with British clothing retailer
Retailer Sears.com has partnered with British fashion retailer NEXT to be the exclusive seller of the company’s shoes, clothing and accessories in the U.S.
Anthropologie to take former American Girl site
Anthropologie is opening a store at 111 E. Chicago Ave., the former site of the American Girl store just west of Michigan Avenue. Get the full story »
U.S. gasoline demand rises in last week
U.S retail gasoline demand on average rose 1.9 percent last week from the previous week, as consumption rebounded from the post Labor day slump, according to the SpendingPulse report released Tuesday by MasterCard Advisors. Get the full story »
Toys R Us releases its list to Santa
Memo to Santa, from Jerry Storch and his team of executive elves at Toys R’ Us headquarters in Wayne, N.J.: Here are the toys we’re betting you will see on lots of kids’ lists this year.
Toys R’ Us on Tuesday released its annual list of hot holiday toys. The retailer selected three dozen toys it expects will be popular this year, and named 15 of those as the hottest of the bunch. Get the full story »
Deloitte predicts small rise in holiday sales
The holiday shopping season forecasts are starting to roll in, and the slow pace of the recovery is dampening expectations.
Deloitte said Monday that it predicts holiday sales for November through January will increase 2 percent to $852 billion, as households remain focused on reducing debt and increasing savings. Get the full story »
Chicago area sees slight rebound in retail sales
Retails sales in the Chicago area rebounded slightly in the first half of 2010, thanks to an uptick in apparel sales and a government stimulus program that drove appliance purchases, according to a report to be released this week.
But, no one is celebrating yet. Consumer activity in the region, while better than the same time last year, still lags the first half of 2008 when the nation was in a recession.
“It gives us a sense that things are going to get better, but very slowly,” said John Melaniphy, a Chicago-based retail real estate consultant and publisher of the report. “While the first half of 2010 showed retail sales increases, they are very narrow compared to other recession recoveries. Get the full story »
Wal-Mart planning smaller urban stores
Wal-Mart Stores Inc. is planning an aggressive push into urban markets with a new small format that’s a fraction of the size of its supercenters.
The expansion is aimed at pumping up sluggish U.S. sales. The retailers is expected to spell out more details next month at a meeting with analysts. Get the full story »
Seasonal hiring could improve, but still lower
Though retail sales gains have improved, don’t expect holiday seasonal hiring to reach “pre-recession levels,” a new report indicates.
Challenger, Gray & Christmas, Inc., said retailers, thanks to two consecutive months of sales gains, “could portend stronger seasonal hiring in 2010,” the Chicago-based outplacement consulting firm said today. Get the full story »
