Circuit City to Open New Prototype
New York City, Circuit City Stores Inc. will be rolling out a new prototype store in June, according to a report by Reuters. John Mulleady, VP for real estate and construction at Circuit City, announced the prototype at the National Retail Federation’s (NRF) annual conference in New York City on Sunday.
Although he did not give many details, Mulleady said the prototype would build on the consumer electronics retailer’s efforts to continually test new store types to better appeal to today’s shoppers. Mulleady said Circuit City is working on building 300 new stores in the next two years.
While Circuit City has stores in Canada, Mulleady said “not today” when asked if the retailer was looking at additional international expansion.
Dollar Tree Chairman Sells 150,000 Shares
New York City, The chairman of Dollar Tree Stores Inc. sold 150,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Wednesday. In a Form 4 filed with the SEC, Macon F. Brock reported he sold the shares Friday for about $32.02 apiece
U.S. Retail Sales Muscle Up 0.9%
Washington D.C., U.S. retail sales increased 0.9% in December, which is stronger than the 0.7% increase expected by Wall Street analysts Friday, according to global news agency Agence France-Press. The Commerce Department report showed that sales were up 1.0% when excluding volatile automobile sales.
December’s increase was the largest since July. But November’s increase was cut almost in half, to a revised 0.6% from an original estimate of 1.0%.
The rise last month was led by a 3.8% increase in sales at gasoline stations, following a 2.9% increase in the prior month. Sales at electronics and appliance stores rose 3.0% in the month after rising a healthy 5.8% in November.
Excluding gasoline sales, retail sales rose a robust 0.6% in December following a 0.4% gain in November. Excluding both gasoline and autos, retail sales rose 0.7% in December. Auto sales rose 0.3% in December after remaining unchanged in the prior month.