News of the Day

Retailer said it will allow Blockbuster access to do due diligence, following Carl Icahn’s pledge to support – and even carry – the proposed deal

Circuit City Stores Inc. (Richmond, Va.) has said it will allow Blockbuster Inc. (Dallas) to examine its books. The agreement is a shift in policy from the consumer electronics retailer’s previous response to Blockbuster’s recent takeover . . . » MORE

Barneys’ Socol Might Quit

Newspaper reports that the fashion retail ceo is unhappy with new ownership from Dubai

Howard Socol is reportedly intending to resign as ceo of Barneys New York. The New York Times said Socol might announce his resignation as early as this week. People within the organization, speaking to the Times on the condition of anonymity, said S . . . » MORE

Not Their Kind of Town

Wal-Mart ends quest to open a store in Chicago shopping center

Wal-Mart Stores Inc. (Bentonville, Ark.) has dropped its fight to open a store on the South Side of Chicago. The Chicago Tribune described the Wal-Mart effort as “a hard-fought battle to turn Chicago into a beachhead for urban expansion across . . . » MORE

Macy’s is Looking Overseas

Names a new executive to explore opportunities for international expansion

Macy's Inc. (Cincinnati) has named an executive to take a new corporate-level position: president for international retail development Daniel Edelman, currently president and chief operating officer of Macy’s West (San Francisco), will be r . . . » MORE

Nike Nearing the Finish Line

Two companies open a co-branded store to take aim at high school athletes

Nike Inc. (Beaverton, Ore.) and The Finish Line Inc. (Indianapolis) have opened a new retail concept called Finish Line Ltd, aimed at the niche market of runners and athletes in training. The 4500-square-foot store opened earlier this week at the ups . . . » MORE

Best Buy’s Calling England

Acquires 50 percent share of Europe’s largest cell phone retailer

Best Buy Co. Inc. (Richfield, Minn.) will pay $2.1 billion for a 50 percent stake in The Carphone Warehouse Group Plc (London), Europe’s largest cell phone retailer. The Carphone Warehouse will place its 2400 U.S. and European stores in the new . . . » MORE

Early April Returns are Mixed

Discounters seem to have done well, selling basics; apparel retailers missed their estimates

April retail sales rebounded slightly, the Associated Press reported, though business was helped by heavy discounting that could hurt earnings. The A.P. said some of the early sales reports issued yesterday and this morning showed that shoppers, cont . . . » MORE

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