Retail - The Salt Lake Tribune http://www.sltrib.com/cat/Retail Stories from The Salt Lake Tribune &copy; 2014 The Associated Press, The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our privacy policy: http://www.sltrib.com/pages/privacy. en-us webmaster@sltrib.com (Webmaster) U.S. retail sales rise in August on auto purchases http://www.sltrib.com/sltrib/money/58406216-79/percent-sales-august-increase.html.csp Washington • Auto buying drove U.S. retail sales higher in August, a possible sign that job growth in recent months has led to accelerated consumer spending. The Commerce Department said Friday that seasonally adjusted retail sales rose 0.6 percent compared with the prior month. Sales are up 5 percent in the past 12 months. July sales were also revised upward from flat to a 0.3 percent increase. Motor vehicles accounted for roughly half of the August increase. Buying also picked up at restaurant... Washington • Auto buying drove U.S. retail sales higher in August, a possible sign that job growth in recent months has led to accelerated consumer spending. The Commerce Department said Friday that seasonally adjusted retail sales rose 0.6 percent compared with the prior month. Sales are up 5 percent in the past 12 months. July sales were also revised upward from flat to a 0.3 percent increase. Motor vehicles accounted for roughly half of the August increase. Buying also picked up at restaurant... <img src="http://mngislctrib.112.2O7.net/b/ss/mngislctrib/1/H.17--NS/0?&pageName=RSS" height="1" width="1" border="0" alt=""/> 58406216@www.sltrib.com Fri, 12 Sep 2014 08:37:02 MDT RadioShack warns of Chapter 11 bankruptcy http://www.sltrib.com/sltrib/money/58401992-79/million-company-radioshack-business.html.csp New York • RadioShack warned Thursday that it may need to file for Chapter 11 bankruptcy reorganization if it can’t rework its debt or find another way to ease a cash crunch. The struggling retailer said in a regulatory filing that it is in talks with its lenders, bondholders, shareholders and landlords to fix its balance sheet, but if it can’t, it will try to file a prepackaged bankruptcy. RadioShack, which is based in Fort Worth, Texas, has been working on turning around its business for the p... New York • RadioShack warned Thursday that it may need to file for Chapter 11 bankruptcy reorganization if it can’t rework its debt or find another way to ease a cash crunch. The struggling retailer said in a regulatory filing that it is in talks with its lenders, bondholders, shareholders and landlords to fix its balance sheet, but if it can’t, it will try to file a prepackaged bankruptcy. RadioShack, which is based in Fort Worth, Texas, has been working on turning around its business for the p... 58401992@www.sltrib.com Thu, 11 Sep 2014 08:37:02 MDT Dollar General goes hostile in bid for rival http://www.sltrib.com/sltrib/money/58398143-79/dollar-family-general-bid.html.csp Dollar General is going hostile with its $9.1 billion bid for Family Dollar after its rival repeatedly rejected previous offers. The discount chain has commenced an open offering to investors of Family Dollar Stores Inc. for $80 per share in cash. That offer was rejected last week by the company’s board, which has already accepted a deal with another discounter, Dollar Tree. Family Dollar, based in Matthews, N.C., has voiced concerns about Dollar General’s deal passing antitrust review. In respo... Dollar General is going hostile with its $9.1 billion bid for Family Dollar after its rival repeatedly rejected previous offers. The discount chain has commenced an open offering to investors of Family Dollar Stores Inc. for $80 per share in cash. That offer was rejected last week by the company’s board, which has already accepted a deal with another discounter, Dollar Tree. Family Dollar, based in Matthews, N.C., has voiced concerns about Dollar General’s deal passing antitrust review. In respo... 58398143@www.sltrib.com Wed, 10 Sep 2014 11:35:01 MDT Japan Rakuten to buy cash-back site Ebates for $1B http://www.sltrib.com/sltrib/money/58393080-79/ebates-rakuten-based-buy.html.csp Tokyo • Rakuten Inc. announced Tuesday it plans to buy U.S. based cash-back site Ebates for $1 billion, part of a series of overseas acquisitions aimed at building what the Japanese e-commerce company says will be the “world’s largest product line-up.” With goods ranging from toys and cat beds to luxury watches and golf clubs, Rakuten is the top Internet retailer in Japan. It has made numerous overseas acquisitions, including Cyprus-based Internet phone application Viber Media and led a $100 mil... Tokyo • Rakuten Inc. announced Tuesday it plans to buy U.S. based cash-back site Ebates for $1 billion, part of a series of overseas acquisitions aimed at building what the Japanese e-commerce company says will be the “world’s largest product line-up.” With goods ranging from toys and cat beds to luxury watches and golf clubs, Rakuten is the top Internet retailer in Japan. It has made numerous overseas acquisitions, including Cyprus-based Internet phone application Viber Media and led a $100 mil... 58393080@www.sltrib.com Tue, 09 Sep 2014 09:16:01 MDT China is the fastest growing market for Ikea http://www.sltrib.com/sltrib/money/58393070-79/china-growing-ikea-company.html.csp Stockholm • Ikea, the world’s largest furniture retailer, says its sales are growing globally, with China now its fastest growing market. The Swedish company says sales rose nearly 6 percent to $37 billion in the year through August. The company has been opening new stores in China, where spending has been on the rise in recent years. Chief executive Peter Agnefjall said Tuesday that Ikea “continues to see positive signs in consumer spending and it’s a great joy to report growth in almost all ou... Stockholm • Ikea, the world’s largest furniture retailer, says its sales are growing globally, with China now its fastest growing market. The Swedish company says sales rose nearly 6 percent to $37 billion in the year through August. The company has been opening new stores in China, where spending has been on the rise in recent years. Chief executive Peter Agnefjall said Tuesday that Ikea “continues to see positive signs in consumer spending and it’s a great joy to report growth in almost all ou... 58393070@www.sltrib.com Tue, 09 Sep 2014 09:13:02 MDT Home Depot confirms breach in U.S., Canada stores http://www.sltrib.com/sltrib/money/58390351-79/breach-depot-target-cards.html.csp New York • Home Depot confirmed Monday that its payment systems have been hacked in a data breach that could affect shoppers who used credit and debit cards at its more than 2,000 U.S. and Canadian stores. The largest U.S. home improvement chain company did not say how many cards might be affected, but that its investigation into the breach goes as far back as April. The news comes nearly a week after Home Depot said that it was investigating a potential breach on Tuesday when a website that foc... New York • Home Depot confirmed Monday that its payment systems have been hacked in a data breach that could affect shoppers who used credit and debit cards at its more than 2,000 U.S. and Canadian stores. The largest U.S. home improvement chain company did not say how many cards might be affected, but that its investigation into the breach goes as far back as April. The news comes nearly a week after Home Depot said that it was investigating a potential breach on Tuesday when a website that foc... 58390351@www.sltrib.com Mon, 08 Sep 2014 16:54:02 MDT Walgreen adds activist hedge fund founder to board http://www.sltrib.com/sltrib/money/58388600-79/walgreen-board-jana-activist.html.csp Walgreens is naming Jana Partners founder Barry Rosenstein to its board and the activist investor will get a say in choosing at least one additional director. Walgreen Co. is under pressure after lowering its earnings forecast as it wraps up its acquisition of the health and beauty retailer Alliance Boots, which runs the United Kingdom’s largest drugstore chain. Walgreen said Monday that Jana Partners will recommend an additional independent director. If another board vacancy opens and Walgreen ... Walgreens is naming Jana Partners founder Barry Rosenstein to its board and the activist investor will get a say in choosing at least one additional director. Walgreen Co. is under pressure after lowering its earnings forecast as it wraps up its acquisition of the health and beauty retailer Alliance Boots, which runs the United Kingdom’s largest drugstore chain. Walgreen said Monday that Jana Partners will recommend an additional independent director. If another board vacancy opens and Walgreen ... 58388600@www.sltrib.com Mon, 08 Sep 2014 09:30:02 MDT Electrolux to buy GE Appliances in $3.3 billion deal http://www.sltrib.com/sltrib/money/58388447-79/electrolux-appliances-billion-north.html.csp Stockholm • Sweden’s Electrolux is buying the appliances business of General Electric for $3.3 billion, boosting its presence on the North American market, the companies said Monday. The acquisition is the largest ever for Stockholm-based Electrolux, ranked as the world’s second biggest home appliance maker after U.S. rival Whirlpool. GE confirmed last month it was in talks to sell its appliances division — maker of the first electric toaster more than 100 years ago — as part of its effort to fo... Stockholm • Sweden’s Electrolux is buying the appliances business of General Electric for $3.3 billion, boosting its presence on the North American market, the companies said Monday. The acquisition is the largest ever for Stockholm-based Electrolux, ranked as the world’s second biggest home appliance maker after U.S. rival Whirlpool. GE confirmed last month it was in talks to sell its appliances division — maker of the first electric toaster more than 100 years ago — as part of its effort to fo... 58388447@www.sltrib.com Mon, 08 Sep 2014 08:52:01 MDT Global Cash to buy Multimedia Games for $1.2B http://www.sltrib.com/sltrib/money/58388409-79/games-multimedia-cash-1.2.csp New York • Global Cash Access Holdings is getting into the casino gaming business, spending about $1.2 billion to buy Multimedia Games Holdings. Both companies make machines found on casino floors. GCA makes ATMs and cash-advance kiosks, while Austin, Texas-based Multimedia Games makes video slot machines. GCA, based in Las Vegas, is paying $36.50 for each share of Multimedia Games. That’s a 31 percent premium from Multimedia Games’ closing price of $27.78 on Friday. The deal is expected to clos... New York • Global Cash Access Holdings is getting into the casino gaming business, spending about $1.2 billion to buy Multimedia Games Holdings. Both companies make machines found on casino floors. GCA makes ATMs and cash-advance kiosks, while Austin, Texas-based Multimedia Games makes video slot machines. GCA, based in Las Vegas, is paying $36.50 for each share of Multimedia Games. That’s a 31 percent premium from Multimedia Games’ closing price of $27.78 on Friday. The deal is expected to clos... 58388409@www.sltrib.com Mon, 08 Sep 2014 08:42:02 MDT Family Dollar bucks Dollar General bid again http://www.sltrib.com/sltrib/money/58378148-79/dollar-family-tree-general.html.csp Chesapeake, Va. • Family Dollar is rejecting Dollar General’s latest acquisition offer, and Dollar Tree says it will now divest as many stores as needed to get antitrust clearance for its deal to buy Family Dollar. Family Dollar rejected an earlier offer of nearly $9 billion from Dollar General, with the Goodlettsville, Tennessee, discounter then boosting its bid to $9.1 billion. Dollar General — the nation’s biggest dollar-store chain — had also revised its proposal to increase the number of st... Chesapeake, Va. • Family Dollar is rejecting Dollar General’s latest acquisition offer, and Dollar Tree says it will now divest as many stores as needed to get antitrust clearance for its deal to buy Family Dollar. Family Dollar rejected an earlier offer of nearly $9 billion from Dollar General, with the Goodlettsville, Tennessee, discounter then boosting its bid to $9.1 billion. Dollar General — the nation’s biggest dollar-store chain — had also revised its proposal to increase the number of st... 58378148@www.sltrib.com Fri, 05 Sep 2014 10:58:01 MDT Video game Minecraft is now a publishing sensation http://www.sltrib.com/sltrib/money/58369281-79/minecraft-books-copies-game.html.csp New York • Like millions of parents, Aaron Sacharow welcomes those moments when his son — 7-year-old Tyler — takes a break from video games and picks up a book instead. He will even settle for the book being a guide to Minecraft, a game that’s sold more than 50 million copies since it was originally released in 2011. “I don’t want to say it tricks them into reading,” says Sacharow, an IT project manager based in Miramar, Florida. “But there are books kids are reading for schools and books that t... New York • Like millions of parents, Aaron Sacharow welcomes those moments when his son — 7-year-old Tyler — takes a break from video games and picks up a book instead. He will even settle for the book being a guide to Minecraft, a game that’s sold more than 50 million copies since it was originally released in 2011. “I don’t want to say it tricks them into reading,” says Sacharow, an IT project manager based in Miramar, Florida. “But there are books kids are reading for schools and books that t... 58369281@www.sltrib.com Wed, 03 Sep 2014 16:33:02 MDT Booming crossover SUV sales trigger discounts on cars http://www.sltrib.com/sltrib/money/58370541-79/percent-sales-car-cars.html.csp Detroit • The seismic shift in American car-buying toward trucks and crossover SUVs is creating great deals on compact and midsize cars. The shift, which has been going on for more than a year, is hurting car sales so much that automakers are offering bigger discounts to keep moving metal. The change became even more pronounced in August, with companies such as General Motors and Chrysler reporting that truck sales, including crossover SUVS, were up while car sales fell. The increasing SUV and t... Detroit • The seismic shift in American car-buying toward trucks and crossover SUVs is creating great deals on compact and midsize cars. The shift, which has been going on for more than a year, is hurting car sales so much that automakers are offering bigger discounts to keep moving metal. The change became even more pronounced in August, with companies such as General Motors and Chrysler reporting that truck sales, including crossover SUVS, were up while car sales fell. The increasing SUV and t... 58370541@www.sltrib.com Wed, 03 Sep 2014 16:22:01 MDT 1-800-Flowers buying Harry & David for $142.5M http://www.sltrib.com/sltrib/money/58364297-79/david-harry-1-800-flowers.html.csp Carle Place, N.Y. • Goumet food and gift retailer Harry & David is being bought by 1-800-FLOWERS.COM Inc. for $142.5 million to help broaden the assortment of foods its customers can choose as gifts. The deal includes Harry & David Holdings Inc.’s brands, websites, 47 retail stores, some plants, orchards and its headquarters in Medford, Ore. Harry & David’s has a store at the Tanger Outlet mall outside of Park City. Harry & David’s fruit, food and other gifts are housed under brands including Wo... Carle Place, N.Y. • Goumet food and gift retailer Harry & David is being bought by 1-800-FLOWERS.COM Inc. for $142.5 million to help broaden the assortment of foods its customers can choose as gifts. The deal includes Harry & David Holdings Inc.’s brands, websites, 47 retail stores, some plants, orchards and its headquarters in Medford, Ore. Harry & David’s has a store at the Tanger Outlet mall outside of Park City. Harry & David’s fruit, food and other gifts are housed under brands including Wo... 58364297@www.sltrib.com Tue, 02 Sep 2014 10:05:03 MDT Dollar General raises Family Dollar bid to $9.1B http://www.sltrib.com/sltrib/money/58364274-79/dollar-family-bid-general.html.csp Goodlettsville, Tenn. • Dollar General upped its bid for the rival Family Dollar chain and addressed an earlier roadblock, saying that it will more than double the number of stores it would shed to ease the antitrust concerns of its takeover target. The newest bid is worth $9.1 billion, or $80 per share, up from $78.50 per share in the previous offer. Family Dollar, based in Matthews, N.C., rejected the earlier bid in favor of a lower offer of $8.5 billion from Dollar Tree Inc., saying regulator... Goodlettsville, Tenn. • Dollar General upped its bid for the rival Family Dollar chain and addressed an earlier roadblock, saying that it will more than double the number of stores it would shed to ease the antitrust concerns of its takeover target. The newest bid is worth $9.1 billion, or $80 per share, up from $78.50 per share in the previous offer. Family Dollar, based in Matthews, N.C., rejected the earlier bid in favor of a lower offer of $8.5 billion from Dollar Tree Inc., saying regulator... 58364274@www.sltrib.com Tue, 02 Sep 2014 09:53:02 MDT Spanish retail chain pulls kids’ shirt after outcry http://www.sltrib.com/sltrib/money/58343834-79/shirt-inditex-camps-chain.html.csp Madrid • Spanish fashion retailer Inditex said Wednesday it has withdrawn a children’s shirt that triggered an outcry from people who said it was reminiscent of the clothes Jews were made to wear at Nazi concentration camps. The long-sleeved shirt with horizontal dark stripes and a six-pointed yellow star on the left side of the chest prompted a storm on social media, with many people finding the shirt distasteful because it conjured up memories of the Holocaust. “It was only on sale for a few h... Madrid • Spanish fashion retailer Inditex said Wednesday it has withdrawn a children’s shirt that triggered an outcry from people who said it was reminiscent of the clothes Jews were made to wear at Nazi concentration camps. The long-sleeved shirt with horizontal dark stripes and a six-pointed yellow star on the left side of the chest prompted a storm on social media, with many people finding the shirt distasteful because it conjured up memories of the Holocaust. “It was only on sale for a few h... 58343834@www.sltrib.com Wed, 27 Aug 2014 13:50:01 MDT Best Buy quarterly profit tops estimates as costs cut http://www.sltrib.com/sltrib/money/58339119-79/buy-estimates-fell-profit.html.csp New York • Best Buy, the world’s largest electronics chain, posted second-quarter profit that topped analysts’ estimates, helped by lower costs. Revenue fell short in the period ended Aug. 2, hurt by weak demand for mobile phones. Same-store sales, a key measure of a retailer’s performance because new and closed stores are excluded, will decline by a “low single digit” rate in the third and fourth quarter, Richfield, Minnesota-based Best Buy said Tuesday in a statement. Chief Executive Hubert Jo... New York • Best Buy, the world’s largest electronics chain, posted second-quarter profit that topped analysts’ estimates, helped by lower costs. Revenue fell short in the period ended Aug. 2, hurt by weak demand for mobile phones. Same-store sales, a key measure of a retailer’s performance because new and closed stores are excluded, will decline by a “low single digit” rate in the third and fourth quarter, Richfield, Minnesota-based Best Buy said Tuesday in a statement. Chief Executive Hubert Jo... 58339119@www.sltrib.com Tue, 26 Aug 2014 12:34:02 MDT