FINANCE

CVS Caremark in deal with Redbox

BY CSA STAFF

Woonsocket, R.I. CVS Caremark Corp. said Thursday that it has forged an agreement with Coinstar to put DVD rental kiosks in 700 CVS drug stores by the end of this year.

Redbox Automated Retail said the DVD kiosks will be in thousands of locations by the end of 2011.

The companies did not disclose terms of their agreement.

Customers can use the kiosk to find a movie, rent it with a credit-card payment, and then return it to any Redbox location. They can also reserve a movie online and choose a kiosk to pick up the DVD.

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Whole Foods 3Q sales up 15%

BY CSA STAFF

AUSTIN, Texas Whole Foods Market reported that sales for the third quarter ended July 4 increased 15% to $2.2 billion. Comparable-store sales increased 8.8%, or 6.3% on a two-year stacked basis. Identical-store sales, excluding three relocations, increased 8.4%, or 4.6% on a two-year stacked basis.

Income available to common shareholders increased 88% to $65.7 million from $35 million last year,and diluted earnings per share increased 53% to 38 cents.

“We are pleased with our results which compare very favorably to most other food retailers and show we are continuingto gain market share. Our identical-store sales increased 8.4%, accelerating from the second quarter and our highestincrease since 2006. Despite tougher comparisons and the recent dip in reported consumer confidence, our two-yearstacked identical-store sales also sequentially increased to 4.6%,” said John Mackey, co-chief executive officer and co-founderof Whole Foods Market.

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DSW reports quarterly sales growth

BY CSA STAFF

COLUMBUS, Ohio DSW announced net sales for the second quarter ended July 31 increased 12.3% to $415.1 million compared with $369.5 million for the quarter ended Aug. 1, 2009. Same-store sales increased 12% for the comparable period versus a decrease of 2.9% last year.

The company said it now estimates an annual comparable-store sales increase of approximately 7% to 9% and annual diluted earnings per share of approximately $1.80 to $1.95 for fiscal 2010.  This is updated from the company’s previous estimate of an annual comparable store sales increase of approximately 6% to 8% and annual diluted earnings per share of approximately $1.65 to $1.75 for fiscal 2010.  Fiscal 2009 annual diluted earnings per share were $1.23.

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