Sam’s to offer iPhone and iPad

Sam’s Club will be joining other large retailers in offering two of Apple’s most popular products, the iPad and iPhone. During a Wednesday morning presentation, executive vice president of merchandising, Linda Heffner, announced the company’s decision to a panel of financial analysts…Read More

Rebates and spirits high at Do it Best Fall Market

Despite the reality that co-op sales were under $2.4 billion (a 2.1% decrease), Do It Best was in high spirits due to its success in securing over a $100.6 million in rebates for its company’s members. The company announced the rebate news at the 2010 “Fall Market” in Fort Wayne, Indianapolis during the co-op’s annual shareholder meeting. Although declines hit direct sales and retail service centers (5.2% and 4.2% respectively), lumber sales jumped up to 7.2%. President and CEO Bob Taylor attributed the company’s large member rebates during a weak economy to upgrades in the company’s logistics and order fill systems…Read More

Pershing Square and Vornado take combined 26.7% stake in J.C. Penney

The New York hedge-fund company, Pershing Square Capital Management LP, has taken control of 16.8% of JC Penny stock; while Vornado, a real estate investment trust, acquired 9.9%. Led by co-investment manager, William Ackman, Pershing Square announced its purchase on Friday, making it the largest shareholder of the department store conglomerate…Read More

Costco’s profit up 16% in Q4

As international markets outgained the United States by more than double, Costco, the largest membership warehouse club chain in the United States, posted a profit of $432 million. Beating out the original estimates of financial analysts, the company’s profits increased by 16% in the 4th quarter – outshining last year’s mark of $374 million. Membership fees helped contribute to the 8% rise in revenue to $24.12 billion, slightly under Wall Street’s projection of $24.23 billion…Read More

The Home Depot tackles energy, embraces Habitat

In a move to show support for nationwide sustainable energy initiatives, Home Dept will be donating up to $1 million to “Habitat for Humanity”. During the month of October, the company will be allocating funds from10% of its sales from products of its Energy Star-qualified appliances. Partnering in 2009 with “Habitat for Humanity”, The Home Depot Foundation continues to contribute to the construction of sustainable buildings…Read More

Survey: Amazon Leads the Pack in Consumer Confidence

In a survey taken by the OC&C Proposition Strength Index, ranked first among consumers’ selection of the highest quality retailer. Costco, the Apple Store, Barnes & Noble and Lowe’s also scored high marks. The global strategy firm’s consumer study, which surveyed 2,700 people, was conducted in an effort to better understand the level of customer satisfaction toward the top 50 retailers in the United States…Read More

Marcus on the soapbox

Co-founder of The Home Depot, Bernie Marcus, expressed his small-business mentality in a candid discussion on the financial news network conglomerate, CNBC. By aligning himself with American entrepreneurs, Blake touched on a variety of topics ranging from Obama’s healthcare bill to his affinity for company CEO, Frank Blake…Read More