PORTLAND — Coming off record profits and four years of revenue growth, L.L. Bean is ready to make the biggest single-year capital investment in the retailer’s 102-year history, the company’s CEO said Friday. Chris McCormick, president and chief executive, told workers that the Maine-based retailer has been conservative for the past few years and is […]
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Posted inBusiness, sj-web
Staples to close 10 percent of retail stores
FRAMINGHAM, Mass. — Staples will close up to 225 stores in North America by the end of next year as it seeks to trim about $500 million in costs annually by 2015. The nation’s largest office-supply retailer said Thursday that nearly half of its sales are now generated online, so it will aggressively cut costs […]
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Black Friday attracts night owls, early birds and power-nappers
AUBURN — Staggered Black Friday openings created three kinds of shoppers: the all-nighters, the hard-core early-risers and those who began at midnight, took a power nap and got right back at it. Sheila Roy of Lewiston fit into the final category. She started her Thanksgiving Day by getting up at 6:30 a.m. “We exercised, had […]
Posted inBusiness, Nation / World, sj-web
Will U.S. budget deal save holiday season for retailers? Maybe not.
NEW YORK (AP) — Will Washington be the Grinch who stole Christmas? After weeks of bickering between Congress and the White House, President Barack Obama on Wednesday signed into law a plan that ended a partial 16-day government shutdown and suspended the nation’s debt limit until early next year. But the measure, which comes just […]
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L.L. Bean celebrates strong spring sales with bonus for employees
FREEPORT — L.L. Bean announced Monday that it would pay out slightly more than $1 million to roughly 5,000 full- and part-time employees in recognition of its spring season’s sales numbers. The outdoor retailer’s sales in all channels — online, catalog and in-store — increased 3 percent during the spring season, which runs from March […]
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Coupon book to support Casco Public Library
CASCO — Casco Public Library has been hard at work on their annual Coupon Book, producing a high-quality collection of savings to favorite local shops. From now through June 2014, the library is selling the coupon book for $10 each. The book will support the library and help stimulate the local economy. Shopping locally keeps […]
Posted inNation / World, sj-web
Schumer: Tracking shoppers through phones invasive
NEW YORK (AP) — Sen. Charles Schumer says federal authorities should regulate the practice of retailers using shoppers’ smartphones to track their movement through a store. Schumer, D-N.Y., said Sunday that the Federal Trade Commission should require that stores let shoppers opt out of being tracked. Several major retailers use technology that allows them to […]