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Covering the latest news in the retail industry
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Consumer Income and Spending Rise in November
The Commerce Department reported that personal incomes rose 0.5 percent and consumer spending increased 0.4 percent in November.
Big Lots’ Sales Up 20 Percent
Others may be singing the holiday sales blues but not the Big Lots in Colonie, NY where sales are up more than 20 percent for this ultra-discount retailer.
Retailers Hope Last Minute Shoppers Spend Big
The number of last minute shoppers this holiday season is expected to be much larger than in past years.
Season’s Profits Expected To Be Down
As the holiday season nears its end, many retailers are expected to post disappointing profits to go with lower than hoped for sales.
No Lack of Shelf Space in Fred Meyer’s Online Store
Fred Meyer’s “FMStore” website now features over 300,000 video game and music titles, offering everything from hard-to-find vinyl records to discontinued CDs.
Kids’ Eating Suffers From Fast-Pace Parental Lifestyles
A Datamonitor report contends that dietary problems, such as obesity that it increasingly prevalent in European children, can be linked to the “Americanisation” of traditional diets and a “decline in…
Cott Beverages Makes $45 Million Mid-Atlantic Acquisition
Leading private label soft drink supplier Cott Corporation will buy Quality Beverage Brands of North Carolina and has agreed to related manufacturing agreements, thereby expanding its market presence and influence…
Online Spending Maintains Furious Pace Last Week
Following two weeks of $2 billion plus spending online, last week’s total only reached $1.88 billion, but that still represents a 31 percent gain over the same week last year,…
Apple Bullish on Its Retail Stores
Encouraged by sales growth of well over 100 percent this year, Apple says it will invest over half of its capital expenditure budget on its retail operations in 2004.
Personal Spending Up, But Less Than Expected
Spending by U.S. consumers rose by 0.4 percent in November and personal incomes increase by 0.5 percent, according to the Commerce Department’s report this morning. Economists see it as a…
Last Minute Shopping Boosts Sales Last Week
The International Council of Shopping Centers/UBS joint report showed an 0.6 percent rise in sales last week vs. the week before as holiday shopping procrastinators finally got out to the…
Bankruptcy Likely for Gadzooks
With same-store sales slumping an average of about 30 percent over the last five months, apparel retailer Gadzooks may be forced to seek Chapter 11 protection unless it can find…
GDP Shows Economy Growing at Fastest Pace in 20 Years
The GDP, the Commerce Department’s measure of the nation’s economic pulse, jumped by 8.2 percent in the third quarter, indicating a full-throttle economic recovery may be in the works.
Parmalat’s Discrepancy Widens to $11 Billion
Sources familiar with the probe into Parmalat’s revelation that it could not account for a funds in its accounts now say the amount may be twice what the company claimed…