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Retail News Breaks Archives

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Week of Mon, Jun 11th, 2012

Steinhafel: Target on growth track

Target Corp. chose the site of one of its first CityTarget stores, set to open next month, as the venue for this year's annual shareholders meeting.

Kroger first quarter profit up; raises view

Kroger Co. recorded a modest increase in net profit for the first quarter of 2012, but the results exceeded the expectations of management as well as analysts, and the company raised its guidance for full-year earnings per share (EPS).

Costco to buy out Mexican partner

Costco Wholesale Corp. says it has agreed to buy the balance of its Costco de Mexico SA de C.V. chain from joint venture partner Contraladora Comercial Mexicana S.A.B. de C.V. (CCM).

Walmart bribery review expands

According to a letter from two Democratic legislators, lawyers for Walmart have recommended that the company expand its internal probe of bribery allegations concerning its operations in Mexico to several other international markets.

Retail sales lose momentum in May

According to the National Retail Federation, retail sales (excluding automobile dealerships, gas stations and restaurants) achieved an unadjusted 4.8% year-over-year increase last month but declined sequentially on an adjusted basis by 0.3% from April.

Retail vacancies escalate in northern N.J.

Recent closures of big-box retail locations have increased the vacancy rate among retail properties in northern New Jersey, according to R.J. Brunelli & Co., a retail brokerage firm.