PRSM Weekly
Jan. 28, 2011

US retailers bet on Canada
The Ottawa Citizen
As Canada's economy continues to plod along while that of the United States stumbles, foreign retailers are scrambling to stake claims on Canadian lands. Recent announcements included the introduction of Target Corp., Kohls and Tanger Factory Outlet Centers to the Canadian retail landscape. The assault is pressing already established chains to step up their efforts in Canada.More

PRSM2011! Features keynote speaker Daniel Pink
PRSM
Daniel Pink, New York Times bestselling author of "Drive" and "A Whole New Mind," explores what truly motivates us and how we can use that knowledge to work smarter and live better. Find out how the need to direct our lives, learn, create new things and do better is the secret to personal satisfaction and high performance.More




J.C. Penney winding down catalog business

Fort Worth Star-Telegram
J.C. Penney Co. said that it plans to close unprofitable stores, add two activist investors to its board and exit its 19 catalog outlets as it winds down its legacy catalog business to focus on online sales. The Plano, Texas, company said it plans to close five under-performing department stores in Georgia, Illinois, Iowa, North Carolina and Virginia, and close a home store in Georgia.More

Got to love this: Valentine's Day sales seen higher
CNBC
After splurging on the holidays, it seems Americans are still in a gift-giving mood. Two recent surveys are projecting higher spending on the upcoming Valentine's Day holiday. The National Retail Federation projects the average person will spend $116.21 on Valentine's Day merchandise this year, up 11 percent over last year's $103.00. Total holiday spending is expected to reach $15.7 billion. More

Stores within stores: Retail's savior?
Fortune via CNN
Wounded by a slump that continues to batter department stores despite a recent surge in sales at other retailers, many large U.S. chains are offering in-store leases to well-matched retailers. All are drawn to the idea that partnering with specialized retailers and manufacturers can help them fill holes in their product offerings and help them profit from hot trends more quickly.More

7-Eleven invades Manhattan, NY
Crain's New York Business
Crain's reported Friday that 7-Eleven wants to take Manhattan, N.Y., by storm, opening enough stores to reach 15 by the end of 2012 and aiming for more than 100 locations. What you might not know is that the chain already operates 74 stores in the city, most of them in the other four boroughs. And that's only good enough to rank it 17th on the comprehensive list of national chains operating in NYC, compiled by the Center for an Urban Future. In all, says the CUF, 306 national chains operate just over 6,700 stores in the city.More

Coach US sales soar, but cost pressures rise
Reuters
Coach Inc. reported a larger-than-expected quarterly profit as U.S. luxury spending rebounded over the holiday season, but the company faces pressure from rising leather costs. Coach Chief Executive Lew Frankfort told Reuters that a higher percentage of shoppers visiting Coach stores made purchases over the holidays, and that handbags up and down its price spectrum had sold well.More

Delhaize to spend on new stores
The Wall Street Journal
Delhaize Group said it plans to spend $1.21 billion opening new stores and remodelling existing outlets, despite a tough retail environment which saw its same-store sales decline 0.8 percent in the fourth quarter. The Belgian supermarket operator, which gets over two-thirds of its revenue from its U.S. Food Lion, Hannaford and Sweet Bay chains, said sales from stores open longer than a year fell 0.8 percent, although that was an improvement from a 1.8 percent fall the previous quarter.More