Dollar Tree reports 37% rise in Q3 net income
Chesapeake, Va. — Dollar Tree said Thursday that net income for the quarter ended Oct. 30 rose 37% to $93.2 million, from $68.2 million in the year-ago period.
Consolidated net sales for the third quarter were $1.43 billion, a 14.2% increase from $1.25 billion a year earlier. Same-store sales increased 8.7%.
During the third quarter, Dollar Tree opened 86 stores, expanded or relocated 27 stores, and closed two stores. The company currently operates 4,009 stores in 48 states.
Report: Retailers continue to invest in green
Miami — Retailers are continuing to invest in sustainability initiatives, even during tough economic times, according to a new report by RSR Research entitled "Lean and Green: Sustainable Practices Are Changing Retail, Benchmark 2010.”
"We saw in last year’s report an increased interest in store-based green initiatives, and that continued very strongly this year," said Steve Rowen, managing partner at RSR Research and co-author of the report. "While our survey shows that many retailers have made inroads in this area, they also report that they have a lot more work to do in stores to both increase efficiency and reduce waste in stores."
The research also revealed a certain amount of impatience by retailers with regards to consumers lack of spending on green products. When it comes to consumer demand, we definitely saw a certain amount of impatience.
“But we saw a real opportunity for retailers to do more to educate consumers about the things they’re doing in other areas of the business – things that ultimately benefit consumers in their own neighborhoods,” said Nikki Baird, also a managing partner at RSR Research and co-author of the report.
The report, which contains recommendations for creating successful green strategies, can be downloaded here.
Survey: 138 million shoppers expected to hit stores Black Friday weekend
Washington, D.C. — A survey released Thursday by the National Retail Federation and conducted by BIGresearch found that up to 138 million people plan to shop Black Friday weekend (Friday, Saturday and Sunday), surpassing the 134 million who planned to do so last year.
According to the NRF 2010 Holiday Consumer Intentions and Actions Survey, which polled 8,778 consumers, approximately 60 million people say they will definitely hit the stores while another 78 million are waiting to see if the bargains are worth braving the cold and the crowds.
“The rules for Black Friday have changed significantly,” said NRF President and CEO Matthew Shay. “Instead of waiting until Thanksgiving Day to announce their promotions, many retailers are getting shoppers excited about Black Friday by offering sneak peeks of deals in advance, using social media to create buzz, or teasing upcoming deals on their websites.”
According to a separate Shop.org eHoliday survey, conducted by BIGresearch, more than half of retailers (54.9%) will send a special email to customers about Black Friday deals and 39.2% will use their Facebook page to reach out to shoppers. Additionally, 31.4% of retailers will utilize their website’s homepage, and 21.6% will use Twitter to announce and promote Black Friday deals.