Union-backed critics of Wal-Mart Stores Inc plan to start their largest ad campaign in a bid to criticize the company during the holiday shopping season, the Wall Street Journal reported Monday in its online edition.
Let the holiday shopping madness begin ... please? That is the silent plea coming from U.S. retailers, which are gearing up for Black Friday, the chaotic and competitive day after Thanksgiving (November 22) when stores offer eye-popping, limited-time deals to kick off the holiday shopping season.
Stocks, rebounding from a string of losses, rose 1 percent on Tuesday on higher-than-expected profit at Wal-Mart Stores Inc and oil prices below $93 a barrel.
Wal-Mart Stores Inc on Tuesday reported higher-than-expected quarterly profit, helped by stronger sales in its international division, tighter control on expenses and efforts to draw customers into its U.S. stores earlier than ever for holiday shopping. The world's biggest retailer said net income rose to $2.86 billion, or 70 cents per share, in the third quarter that ended October 31, from $2.65 billion, or 63 cents per share, a year earlier.
British grocer Tesco made its U.S. debut on Wednesday by throwing open the doors of a sleek, modern Los Angeles store stocked with a larger helping of fresh, ready-to-eat meals than at traditional supermarkets.
Most retail chains suffered through a dismal, record-warm October, with leader Wal-Mart Stores Inc falling short of Wall Street same-store sales estimates and the apparel sector continuing to struggle.
Gauging retail success or failure for the holidays is an increasingly difficult, and often unreliable, endeavor.
Tesco, the world's third-largest retailer, has begun its long-awaited launch in the United States, opening its first store near Los Angeles.
Wal-Mart Stores Inc said on Wednesday it will begin offering this week the type of holiday discounts it typically reserves for Black Friday -- the day after Thanksgiving that typically marks the start of the ultra-competitive holiday shopping season. Wal-Mart has said it intends to be aggressive this holiday season to boost sales at its U.S. stores.
Retail stocks jumped on Friday, with Family Dollar Stores, and Big Lots among the gainers.
Wal-mart, the world's largest retailer is considering concentrating more on its international stores as well as opening up more stores in other countries for its business growth.
The chief executive officer of Wal-Mart Stores Inc said on Wednesday that he is optimistic about the Christmas season.
Amazon.com Inc reported on Tuesday a drop in profit margins from the previous quarter, unpleasantly surprising investors betting on continued improvement at the world's largest Web retailer, and its shares fell 9 percent. The results beat Wall Street estimates but it was not enough to satisfy investors who have pushed the shares up to a valuation far beyond peers
The Nasdaq led the market's gains on Tuesday after strong profit at Apple Inc and a Chinese distribution deal for BlackBerry maker Research in Motion showed tech stocks may still have room to grow. The Nasdaq's gain topped 1 percent after RIM said it is teaming up with Alcatel-Lucent to distribute the BlackBerry in China
Dell Inc (DELL.O) said it would sell personal computers, printers, monitors and ink supplies in 1,400 Staples Inc (SPLS.O) stores in the United States, its latest move into retail after breaking from 23 years of selling directly to consumers.
Multinational retailers are waiting for India's chaotic industry to settle down.
Wal-Mart Stores Inc will spend up to 100 billion yen ($878 million) to buy out minority shareholders in Japanese supermarket unit Seiyu Ltd in an effort to turn around the money-losing chain.
Wal-Mart's lawyers have an early holiday message for Web sites that post Black Friday ads ahead of their official release date: Don't do it.
China promised on Thursday no let-up in its drive to force foreign-invested enterprises to create state-controlled unions and said it would not be deterred by reluctant company bosses.
U.S. shoppers may spend more money on holiday purchases this year, but that spending will increase at only about half the pace it did a year ago, an industry trade group study released on Tuesday found.
Stocks declined on Thursday, led by losses in the Nasdaq as investors took profits after recent sharp gains.
Many of the leading U.S. retailers reported dismal September sales that missed Wall Street's expectations, hurt by unusually warm weather, prompting some to cut their outlook for the entire quarter. Industry leader Wal-Mart raised its outlook for the quarter but said sales came in at the low end of expectations.
