Although June tends to be a major month for retail as stores concentrate on clearing their stock to make room for fall items, Wal-Mart (NYSE:WMT) reported that its June sales were less than expected. However, Target (NYSE:TGT) said that comps were at the high end. One factor that affected transactions was that consumers were consolidating trips to make purchases, since consumables outstripped discretionary products in June.
Starbucks (NASDAQ:SBUX) Japan reported a 51% increase in annual profit and predicts a gain of an additional 12.6%. Because of vigorous sales of limited-time drinks, coffee beans and hot food, same-store sales increased for the first time year-on-year. Starbucks Japan has said that it plans to open 100 stores every year for an indefinite amount of time.
Amazon.com (NASDAQ:AMZN) and Toysrus.com have reached the end of a 10-year contract which stipulated that Toysrus.com products could only be sold through Amazon. As a result, Amazon is opening new stores specializing in baby products and toys.