February 2, 2004 |
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 |
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.
September 5, 2003 |
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.
August 8, 2003 |
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.
January 4, 2003 |
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.
November 30, 2002 |
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.
November 19, 2002 |
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.
November 14, 2002 |
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.
November 9, 2002 |
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.
October 25, 2002 |
Organized labor won a key battle this week in an all-out effort to limit Wal-Mart's expansion in California, successfully lobbying the Inglewood City Council to block the nonunion retail giant from building a super center in that city. The union representing local supermarket clerks, which recently hiked dues to create a $3-million war chest to fight Wal-Mart's expansion in Southern California, is now pushing a similar effort in the city of Los Angeles.