Tesco first half profit drops on high turnaround costs
London — British retailer Tesco reported Wednesday that profit dropped 6.8% in its first fiscal half to $2.06 billion, weighed down by costs associated with its turnaround strategy.
Revenue for the period inched up 1.6% to $51.9 billion, but costs were up as well for the world’s third-largest retailer. Same-store sales fell off 0.7%.
"The plan is a long course of treatment for us, not a single dose," new CEO Philip Clarke said of the turnaround plan.
Tesco’s U.S. venture is Fresh & Easy, which has yet to turn a profit.
Football players, Dick’s join to support breast cancer awareness
PITTSBURGH — Dick’s Sporting Goods is partnering with a group of current professional football players who have had life experiences with breast cancer, as part of its campaign for NationalBreast Cancer Awareness month. Denver linebacker Von Miller, New England wide receiver Wes Welker and other gridiron stars will promote the "Sport Your Support" campaign and "Endless Ribbon" initiative via public relations and social media.
Throughout October, the retailer will feature a variety of pink items in stores and online from top brands including Nike, Reebok, Under Armour, Lady Hagen and Maxfli, and is encouraging consumers to join in showing their support for the cause.
To kick off the program, DICK’S Sporting Goods donated $250,000 to the National Breast Cancer Foundation (NBCF).
Consumers will also have the opportunity to "Sport Their Support" by participating in Dick’s Sporting Goods’ "Endless Ribbon" Facebook initiative. From now through Oct. 31, consumers can visit the Dick’s Sporting Goods Facebook page, add a pink ribbon to their profile picture and dedicate it to a loved one or include it as an expression of hope. DICK’S will aggregate all participants’ photos in its "Endless Ribbon" gallery, where the photos together will attempt to form the World’s Longest Pink Ribbon.
Sears, Kmart offer ship-to-home for online layaway purchases
HOFFMAN ESTATES, Ill. — Sears Holdings is now offering its Kmart and Sears customers the option of ship-to-home delivery for items purchased through online layaway.
The new service – also available on store kiosks now enables shoppers to select, purchase and have the items delivered directly to their homes, bypassing the layaway line altogether. Both retailers will begin the exclusive layaway ship-to-home service starting Nov. 7.
Sears has also joined Kmart in removing all layaway service fees both online and in-store leading up to the holiday season.
"We witnessed a positive consumer response from Kmart’s free layaway news, and the latest announcement of home delivery and Sears’ free layaway are proof of our commitment to providing our customers value and convenience," said Jai Holtz, VP financial services, Sears Holdings. "Our exclusive online layaway ship-to-home delivery service provides a convenient alternative to customers who prefer to make their layaway purchases from the privacy of their own home."