Retailer | featured news

U.S. retailers are reporting modest sales gains for March as consumers held back due to cold weather during the month and continued worry about the economy. Overall, 14 retailers reported on Thursday that revenue at stores open at least a year — a key indicator of retail health — rose an average of 0.6 percent. That number comes from the research firm Retail Metrics.

After a troublesome, 17-month run, Ron Johnson is out as chief executive of J.C. Penney, and with that, the most closely watched revival effort in retail in recent memory is in danger of disintegrating.

Samsung Electronics is giving Apple a run for its money by setting up mini-stores inside 1,400 Best Buy stores in the U.S... The Samsung mini-stores, which will open inside Best Buy locations by the end of June, will showcase smartphones, tablet computers, cameras, laptops and TVs, and will provide customer support similar to the “Genius Bar” at Apple stores, the New York Times reported.

Wal-Mart Stores Inc., the world's largest retailer, says it's setting up lockers in about a dozen stores so that shoppers who order on its website can pick up their items without having to wait in line checkout line.

The Seattle-based Web retailer said the 8.9-inch Kindle Fire HD with 4G wireless capability will start at $399, down from $499. Amazon reduced the price of the Wi-Fi only version by $30 to $269.

Costco's fiscal second-quarter net income climbed 39 percent as it pulled in more money from membership fees, sales improved and it recorded a large tax benefit. The wholesale club operator earned $547 million, or $1.24 per share, for the period ended Feb. 17. That compares with $394 million, or 90 cents per share, a year earlier.

A curious thing is happening among American shoppers. More are checking labels and asking, "Is it 'Made in the USA?'" Walmart, the nation's largest retailer, earlier this year announced it will boost sourcing of U.S. products by $50 billion during the next 10 years. General Electric is investing $1 billion through 2014 to revitalize its U.S. appliances business and create more than 1,500 U.S. jobs.

U.S. retailers are posting moderate sales for February, dealing with mixed signals like payroll-tax increases and later income-tax refunds that were countered by a rousing stock market and better housing reports.

This isn't the most remarkable business statement ever. In fact, Costco coming out in support of a higher minimum wage is one of the more unsurprising ones. For Costco already pays well above minimum wage anyway. The only people who could be hurt by the rise are Costco's competitors. Costco Wholesale Corp. President and CEO Craig Jelinek is putting his name and company in the forefront of the latest drive to increase the federal minimum wage.

Eight years after Martha Stewart was released from prison for lying about a stock trade, the home diva is now facing another legal mess that may not be easy to clean up. Stewart, 71, took the stand in New York State Supreme Court Tuesday morning. She is at the center of a bitter legal battle between two of the nation's largest retailers - Macy's Inc. and J.C. Penney Co.