PRSM Weekly
June. 3, 2011

Picky shoppers lead to mixed May
for retailers

Reuters via MSNBC
U.S. shoppers are showing signs of pulling back on spending on discretionary items like clothing and home goods as gasoline and groceries eat up more of their paychecks. Those pressures led many retailers to report only modest revenue increases in May, the latest sign of the economy hitting a soft patch.More

Join Us at PRSM LIVE in the Cincinnati area on June 21; New York on June 22; and San Francisco on June 23
PRSM
PRSM LIVE is a series of professional development programs that provide an additional opportunity to stay connected and to engage in conversation relating to the issues, challenges and happenings in the facilities maintenance industry in a local area. The education topic is Proactive Risk Evaluation and Business Continuity, How Much Does Nothing Cost?More

Rock-Tenn company and Smurfit-Stone Container Corporation shareholders approve merger
The Financial Post
RockTenn and Smurfit-Stone Container Corporation announced the results of their meetings of shareholders. Both RockTenn and Smurfit-Stone shareholders approved the merger as more than 99 percent of the RockTenn shares that voted at the meeting voted in favor of the merger and more than 91 percent of the Smurfit-Stone shares that voted at the Smurfit-Stone meeting voted for the merger. More

PRSM Mid-Year Conference registration now open

Join us for the PRSM Mid-Year Conference, Sept. 14-16 in the Renaissance Schaumburg Hotel in Schaumburg, Ill. PRSM Mid-Year Conference offers educational programming focused on financial management of facilities. The education sessions will provide all participants with various levels of experience (senior to basic) with timely and creative ideas and tools to equip you and your team to make sound financial management decisions.More

Evoco Inc. launches the fuze software platform for
multi-location retailers

Business Wire via Yahoo Finance
Evoco Inc launches its fuze software platform, specifically designed for multi-location retailers, integrating with existing source systems to deliver increased visibility and accurate data regarding real estate design, construction and facility maintenance initiatives. "Evoco fuze is the culmination of a significant R & D effort, backed by Evoco's 10 year experience in building enterprise level applications for many of the world’s largest retailers," said Alice Reimer, President, Evoco Inc.More

Father's Day spending to reach $11.1 billion
Washington Business Journal
Father's Day spending is expected to jump significantly this year, according to the National Retail Federation. Americans will spend an average of $106.49 on Father's Day gifts this year, up from $94.32 in 2010, and the highest in the eight years the survey has been conducted.More

Spending on clothing, luxury items up
The Associated Press via The Washington Post
New data from MasterCard show consumers spent less on home products like furniture in May as the housing market continued to slump. But clothing and luxury items fared better. More

Dollar General pencils in 2012 for California expansion
Convenience Store News
Dollar General will be putting down stakes in California in 2012. The move comes after the locally headquartered company successfully expanded in other western states, such as Arizona and Colorado, in the past few years.More

Buyout deal brings new era for Academy
Houston Chronicle
For David Gochman, the announcement that he is selling Academy Sports + Outdoors to private equity firm Kohlberg Kravis Roberts & Co. is bittersweet. For 73 years, his family has owned the business. Starting as a tire shop in San Antonio, it transformed itself into an outdoor and lifestyle retail chain with 131 stores in 11 states with $2.7 billion in revenue last year. More

Debenhams in talks to open branches in US Sears stores
The Telegraph
Debenhams, the U.K. department store retailer, could soon enter the U.S. retail market by opening space in Sears stores. The two retailers are understood to be in early discussions about Debenhams opening concession or franchise areas in Sears outlets across the US. The UK department store retailer currently has around 60 franchised stores around the world and has a plan to increase this number to 100 as it looks to expand beyond its domestic market. More

More US retailers setting their sights on Canada
The Wall Street Journal's MarketWatch
Ample growth opportunities, a ready customer base and untapped profit potential are expected to drive U.S. retailers into Canada during the next couple of years. The trip north is an easy way to mount international expansion while keeping a very close eye on its progress. More

Survey: Retail industry capital spending to rise 16 percent in 2011
Retailing Today
Capital spending for the retail industry is expected to increase 16 percent in 2011 to $42.5 billion, with all sub-segments projecting double-digit percentage increases (except for mass merchants, whose growth is projected to rise 9 percent), according to a survey by Equity Research.More

Tragedy strikes in Joplin and retailers lend a helping hand
National Retail Federation
We have all seen the heart-breaking video footage and coverage of the massive storm that hit this small Missouri town two weeks ago. While the stories being told are understandably about the hundreds of lives lost and homes destroyed, it’s important to remember that businesses were affected, too. Hundreds of retailers of all sizes experienced a tremendous amount of damage to facilities and store associates’ personal lives.More

Jones Group buys shoe retailer Kurt Geiger
Reuters
Jones Group Inc. said it had acquired upscale British shoe retailer Kurt Geiger from private equity firm Graphite Capital to increase its foothold in the international luxury market. The deal is valued at about $350 million including assumption of about $100 million in debt, Jones Group said. More

Gap opening outlet store in Italy
Retailing Today
Gap will enter the Italian outlet center market, opening a namesale store at the Vicolungo Outlet Center near Milan, on June 2. "Opening only six months after the successful launch of our first flagships in Italy, this new store represents the fastest execution of our international strategy to date; adding our Outlet channel where we have been in-market for a period of time," said Stephen Sunnucks, president, International, Gap. More

Judge extends deadline for Borders, sale expected
The Associated Press via Google News
A judge granted Borders an extension to file its reorganization plan under bankruptcy protection, but a sale of some of its stores appears more likely. A Borders lawyer confirmed that a bankruptcy judge granted the extension at hearing in New York. More