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CALIFORNIA | LOCAL
August 19, 2004 | From Times Staff Reports
The City Council gave final approval to a law that was expected to make it harder for retailing giants like Wal-Mart to erect superstores in the city. It requires the companies to study whether the surrounding areas would be harmed by the addition of the mammoth centers.
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BUSINESS
February 27, 2004 | From Bloomberg News
J.C. Penney Co., the second-largest U.S. department store, reported a fiscal fourth-quarter loss Thursday after writing down the value of its Eckerd drugstore chain, and rival Kohl's Corp. said profit fell 12% for a third straight quarterly drop after the retailer had to increase discounts to clear out leftover merchandise. Specialty retailers Limited Brands Inc. and Liz Claiborne Inc., which is also a major supplier, said quarterly profit rose as recent acquisitions boosted sales.
CALIFORNIA | LOCAL
February 19, 2004 | Dave McKibben, Times Staff Writer
In its strongest language yet, the Defense Department reiterated that it had no plans to reopen the commissary at the closed El Toro Marine base. But three members of Orange County's congressional delegation say they won't give up their protracted battle to reopen the facility, which offered food and other merchandise at discounted prices to active and retired military personnel. In a Jan. 22 letter, Deputy Undersecretary John M.
BUSINESS
February 2, 2004 | Michael Hiltzik
If Wal-Mart Stores Inc. is famous for anything, it's the ruthless way it wrings the last few pennies of cost from every transaction. So last week, when the Los Angeles County Economic Development Corp. released a study finding that the expansion of Wal-Mart's grocery business into Southern California would be, on balance, a great thing, my first reaction was that the company had purchased the LAEDC's reputation cheaply for the $65,000 it paid for the study.
BUSINESS
December 16, 2003 | Leslie Earnest, Times Staff Writer
Kohl's Inc. was awash in self-confidence when it made its splashy California debut, opening 28 stores in one day. In retail, President Kevin Mansell said at the time, the action was in the middle market, and Kohl's was going after it "with a vengeance." Nine months later, department stores that focus on bargain-hungry middle-income families are stuck in a vise. Competition has intensified on every level, especially in California, the most competitive retail marketplace in the nation.
CALIFORNIA | LOCAL
October 15, 2003 | From Times Wire Reports
The politics of commercial development are heating up in Cotati as residents prepare to vote on a ballot measure that would allow construction of large retail buildings. On Nov. 4, Cotati voters will decide whether to approve an initiative that would exempt a 52-acre lot from a 1997 ban on large commercial structures.
BUSINESS
September 5, 2003 | Jeff Leeds, Times Staff Writer
Universal Music Group's top distribution executive, Jim Urie, began sketching out his plan to slash CD prices on the back of a Denny's restaurant place mat as he returned from a Palm Springs vacation last Thanksgiving. But the script for Universal -- whose decision to cut prices touched off tremors throughout the music industry this week -- may have been written well before then. Indeed, pressure has been building for industrywide price reductions since big-box retailers such as Best Buy Co.
BUSINESS
August 8, 2003 | From Reuters
Warm weather and huge clearance sales helped major retailers post better-than-expected July sales Thursday, prompting Wal-Mart Stores Inc., Gap Inc. and others to raise their quarterly earnings forecasts. Department stores and specialty chains, including Kohl's Corp., J.C. Penney Co. and Limited Brands Inc., reported strong sales growth, helping to make up for a disappointing June and bolstering hopes for solid back-to-school demand in August. Wal-Mart, Gap, electronics retailer Best Buy Co.
ENTERTAINMENT
January 4, 2003 | Bettijane Levine, Times Staff Writer
It's easy to understand why people on fixed incomes and tight budgets would hunt for bargains at the 99-cent stores that dot the city. But what's with all those well-dressed types who pull up in pricey cars and can be seen scouring the well-stocked aisles like archeologists on a dig -- scooping up jars of white asparagus and artichoke hearts, hand-painted china, leopard-print thong undies, bottles of wine and Pellegrino water -- each priced at under $1? "It's amazing. It's fun.
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