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Education and Events    Resources    News and Publications    Get Involved    Membership    About PRSM Feb. 3, 2012


Lennox Industries
EMCOR Group
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Retailers posted solid January sales
The Wall Street Journal (subscription)    Share   Share on FacebookTwitterShare on LinkedinE-mail article
U.S. retailers delivered generally upbeat January sales as the appetite for marked-down merchandise increased. Costco Wholesale Corp. and Target Inc. reported strong gains, while Macy's Inc. missed expectations. January is the last month of the fourth quarter for most retailers and the lightest month in terms of sales for the period. But results can be telling. Merchants reveal how well merchandise clearances worked and can give an initial read on how spring products are faring. More



Survey finds heartening level of consumer spending for Valentine's Day
Chicago Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
You can't buy love, but that isn't stopping Americans from spending plenty on jewelry, flowers, candy and dinner out this Valentine's Day, according to a report. U.S. shoppers are expected to spend an average $126 on their sweethearts and loved ones this year, up 8.5 percent to $17.6 billion from the year ago, according to the National Retail Federation's annual consumer intentions survey. The figure marks the highest level of Valentine's Day purchasing in the survey's 10-year history. More

Pep Boys agrees to be acquired for about $791 million
The Associated Press via Google News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Manny, Moe & Jack, an auto parts chain founded more than 90 years ago, has agreed to be taken private by the investment firm The Gores Group for about $791 million. The $15 per share offer is a 24 percent premium to Pep Boys' closing price Friday of $12.08. News of the acquisition sent the Philadelphia company's shares up $2.85, or 24 percent, to close at $14.93. More



An Apple store is worth as much as the White House
CNN    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Which is more valuable: The White House or one single Apple store? It's almost a tie. Apple sells an annual average of $4,709 worth of merchandise per square foot in its hundreds of stores across the world. Meanwhile, the presidential mansion in Washington is valued at $4,752 per square foot, according to real estate website Zillow. More

Consumer confidence in US increases for a 2nd week
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Consumer confidence in the U.S. climbed for a second week as Americans became less pessimistic about the prospects for the world’s largest economy. The Bloomberg Consumer Comfort Index rose to minus 44.8 in the period to Jan. 29 from minus 46.4 the previous week. A measure of Americans' view of the state of economy climbed to the highest since June. More

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Limited, Target sales exceed estimates on post-holiday deals
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Limited Brands Inc. and Target Corp. posted January same-store sales that topped analysts' estimates as shoppers took advantage of a promotional post-holiday environment. Sales at Limited, the Columbus, Ohio-based operator of the Victoria's Secret lingerie chain, climbed 9 percent, beating the average projection for a 2.7 percent gain from analysts surveyed by researcher Retail Metrics Inc. Target, the second-largest U.S. discount retailer, posted a 4.3 percent increase in same- store sales, topping the 2.4 percent More

Walgreens buying pharmacy business from 33 Kmart stores
Chicago Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Walgreen Co. said it will buy certain assets of BioScrip Inc.'s community specialty pharmacies and mail service pharmacy business for about $225 million. The deal comes in the same week the Deerfield-based pharmacy chain said it would buy prescription files and inventory from 33 Kmart pharmacies in 16 states. More



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Only shopping center opening in US during 2012 on schedule to open in Salt Lake City
KSL-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The clock is ticking toward the highly anticipated opening of Utah's top retail development. Less than 60 days remain until the scheduled March 22 grand opening of City Creek Center, a $1.5 billion downtown project that is expected to revitalize Salt Lake City's central business district. More

Canada rethinks strip malls
Agence France-Presse via Google News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Strip malls — once anchors of postwar North American suburban neighborhoods — are doomed, with thousands across Canada and the United States already derelict and eyed by land developers. But at least one Canadian academic sees value in maintaining the ubiquitous local retailing plazas, and has amassed proposals such as adding community gardens or toboggan slides, or morphing them into giant bee hives or parking lots for food caravans. More



Costco January same-store sales up 8 percent
Reuters via Chicago Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
U.S. warehouse club operator Costco Wholesale Corp posted a better-than-expected 8 percent rise in January sales at stores open at least a year, helped by higher gasoline prices. Net sales at Issaquah, Wash.-based Costco rose 11 percent to $7 billion in the four weeks ended Jan. 29. More

Esprit to close all stores in unprofitable North America
Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Esprit Holdings Ltd., the clothing retailer struggling to recover from last year's 98 percent earnings slump, plans to close all stores in North America after failing to find a buyer for the unprofitable business. Hong Kong-listed Esprit intends to focus on "finding one or more license partner" to maintain the brand’s presence in North America, said Patrick Lau, head of investor relations and mergers and acquisitions, in an emailed statement. More



Cleaning Services Group, Inc.

Cleaning Services Group, Inc. is a full-service building services company servicing Office Buildings, Grocery Chains, Cinemas/Theaters, Financial Institutions, Medical Facilities, Educational Facilities & Universities, Commercial Properties, Retail Store Chains, Restaurants, Speciality Facilities, National Accounts, and Distribution Centers.
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Starbucks to enter India, targets 50 outlets by year-end
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Starbucks will open its first coffee shops in India in August or September, a year later than originally planned, and aims to have 50 outlets by year-end through a tie-up with the Tata group, the country's biggest business house. The Seattle-based chain, known as much for the trendy urban lifestyle it represents as its costly cups of coffee, enters a market with a fast-growing middle class and plenty of competition in the small but fast-growing coffee segment. More

E-retail fraud rate hits a record low in 2011 — But dollar losses grow as thieves steal more expensive items
Internet Retailer    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The fraud rate per order for online merchants in the United States and Canada decreased in 2011 to 0.6 percent from 0.9 percent in 2010, according to CyberSource, a subsidiary of payment card network Visa. The 2011 fraud rate represents the lowest rate in the 13-year history of the survey. More
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