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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.
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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.
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.
BUSINESS
November 30, 2002 | Leslie Earnest, Times Staff Writer
If the opening day of the holiday shopping season is any guide, this year could end up being a "Costco Christmas." Bargain-hungry Southern Californians swarmed the region's stores Friday, guided largely by a sense of practicality that had thousands rising before sunrise to snap up the best deals on a wide array of gifts.
BUSINESS
November 19, 2002 | From Bloomberg News
Kmart Corp. Chief Executive James Adamson said Monday that monthly sales at the discount retailer may rise for the first time in more than a year in December as shoppers buy more Martha Stewart merchandise. Sales at stores open at least a year are expected to be "neutral to slightly positive," Adamson said. Sales of Martha Stewart items are "doing better on a per-store basis" this year, he said.
BUSINESS
November 14, 2002 | Angela Moore, Reuters
NEW YORK -- Retail giants Wal-Mart Stores Inc. and Federated Department Stores posted higher quarterly earnings Wednesday, but analysts remain worried about weaker consumer spending in the holiday season. Wal-Mart, the world's biggest retailer, said profit jumped 23% in the quarter ended Oct. 31. Federated, parent of Macy's and Bloomingdales, also posted strong earnings, helped by tighter inventories that reduced the need for markdowns. Wal-Mart said net income climbed to $1.
BUSINESS
November 9, 2002 | Abigail Goldman, Times Staff Writer
Shares of discount merchant Factory 2-U Stores Inc. more than doubled Friday after the appointment of onetime Wal-Mart Stores Inc. Chief Executive William R. Fields as the company's chairman and CEO. Factory 2-U, which made the announcement after markets closed Thursday, saw its stock jump $2.77 to close at $4.45 on Nasdaq on Friday. The stock hit a 52-week low just a few weeks ago, closing at $1.11 on Oct. 11.
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