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A&P 1Q Comp Sales Up

BY CSA STAFF

Montvale, N.J. A&P announced Monday that sales for the first quarter were $2.9 billion vs. $1.7 billion last year. Same-store sales increased 3.2%, which excludes sales for Pathmark stores acquired in December 2007.

Comp-store sales for Pathmark, measured during the same period, increased 3.1%.

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Apple unveils first China store

BY CSA STAFF

BEIJING, China Apple unveiled its first store in China, set to open Saturday, July 19, at the Village at Sanlitun retail development.

The all-glass building has the same design as Apple’s other retail units and features Apple store staples, including a multi-lingual Genius Bar. The store will be Apple’s 219th retail store worldwide.

“This is the first of many stores we will open in China,” said Ron Johnson, Apple’s senior vp of retail, in remarks to the press. He also confirmed that another store will open in Beijing’s Qianmen area, a shopping street south of Tiananmen Square that has been renovated in anticipation of the Olympics.

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Mattel reports 2Q net income drop

BY CSA STAFF

EL SEGUNDO, Calif. Mattel today reported a net income of $11.8 million, or 3 cents per share, for the second quarter of 2008, compared to last year’s net income of $22.8 million, or 6 cents per share, for the like period.

“We expected the positive contribution from toys tied to the summer entertainment properties Batman: The Dark Knight™, Speed Racer™ and Kung Fu Panda™,” said Robert A. Eckert, chairman and ceo of Mattel. “And we also achieved nice growth in several of our key core brands, including Fisher-Price Core and American Girl. International markets continue to lead the way, but the U.S. business also posted solid performance in the quarter.”

Visit www.RetailingToday.com for news on Mattel’s Bratz court case.

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