Retail roundup: Sears, downtown Target, retail sales, Fresh & Easy and Abercrombie
For the first time, Sears will be open on Thanksgiving Day from 7 a.m. to noon, with special discounts to spur consumer spending. Deals include up to 60% off fine jewelry and markdowns on plasma TVs.
Target gives downtown dwellers the major chain they’ve been waiting for. But the urban version will be not-so-big-box.
Retail sales were up a slight 1.6% in October.
Fresh & Easy Neighborhood Market announced plans to open 10 stores in Southern California early next year, with locations in El Cajon, Lake Forest, Costa Mesa, San Diego, Oceanside, Walnut Park, Ventura, Camarillo, San Dimas and Long Beach. The company expects to hire more than 210 employees for the stores and is currently accepting job applications on its website.
Following in the steps of other retailers including Wal-Mart, Abercrombie & Fitch announced that it would stop reporting sales on a monthly basis starting in fiscal 2011. The teen retailer will report quarterly sales results the first Thursday after the close of each fiscal quarter. Many retailers stop reporting monthly sales to encourage Wall Street to take a longer-term view of the company and to avoid the volatility that can come with reporting sales on such a frequent basis.
-- Andrea Chang