REAL ESTATE

Report: Sephora to open 50 stores in Latin America by 2016

BY Staff Writer

New York — Sephora plans to open 50 stores in Latin America by 2016, the San Francisco Business Times reported.

Sephora opened its first Latin American store in 2011, in Mexico City. It was followed by locations in Puebla and Guadalajara and another one in Mexico City in 2012. It plans to open an additional five locations in the country in 2013.

It is also expanding in Brazil — the third largest beauty market in the world — with four new stores this year and another six in the pipeline, according to the report.

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A.Smith says:
Mar-21-2013 06:57 am

A good news to the shoppers
A good news to the shoppers and a big success to the store as well. With this expansion, we the customers will have more options to choose as to where we are going to shop. - JustFab

A.Smith says:
Mar-21-2013 06:57 am

A good news to the shoppers and a big success to the store as well. With this expansion, we the customers will have more options to choose as to where we are going to shop. - JustFab

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FINANCE

First Data: November card spending growth solid

BY Marianne Wilson

Atlanta — Dollar volume growth remained solid at 5.8% in November, down from 6.7% in October, according to the First Data SpendTrend analysis for the full month of November 2012 compared with November 2011. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations.

The growth was considered healthy as November 2011 was a strong month with dollar volume growth of 7.3%, according to First Data. The growth significantly weighted to spending at retailers during the latter half of the month. Although Black Friday retail spending was weaker this year with growth at 8.3% compared to 9.7% last year, overall November dollar volume growth still performed well.

Most retail segments experienced healthy year-over-year dollar volume growth. Overall retail dollar volume growth was 5.6%, a three-month high and a significant jump, compared with the 3.5% growth in October. Year-over-year average ticket growth was -0.2% in November, down from October’s growth of 0.8%. Retail average ticket growth of 2.0% remained relatively stable, which reflects the strengthening position of retail as some merchants are less inclined to drive sales at the expense of margins.

“At first glance, it appears that spending growth is healthy heading into the holiday season,” said Rikard Bandebo, VP and economist, First Data. “However, November 2012 was among the slower growth months this year, so retailers may begin to engage in more competitive pricing to attract shoppers as the holiday season progresses.”

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FINANCE

Casey’s Q2 profit down

BY Marianne Wilson

Ankey, Iowa — Casey’s General Stores Inc.’s reported Monday that its net income declined nearly 13% in its fiscal second quarter on lower sales of gasoline, groceries and cigarettes.

Casey’s made $32.9 million in the quarter ended Oct. 31, down from $37.6 million in the year-ago period.

Revenue rose 7.2% to $1.91 billion. Same-store sales of gasoline fell 0.4%, while sales of merchandise dropped 0.7%. Cigarette sales were hurt by competitive pricing and an increase in an Illinois state excise tax, CEO Robert J. Myers said in a statement.

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