U.S. Retail Sales Rebound as Jobless Claims Fall
from Reuters via USA Today
Sales at U.S. retailers unexpectedly rebounded in January, government data showed, but the recovery was unlikely to be sustainable as recession-hit companies continued to aggressively axe jobs. The jump in sales, probably boosted by post-holiday discounts, was at odds with other reports that still painted a gloomy picture for the world's largest economy, which has been mired in recession since December 2007. More
Shoppers Showing No Valentine's Love for Retailers
from Time magazine
Lonely hearts, you're not the only ones getting no love this Valentine's Day. The economy will likely be joining you down in the dumps. According to a recent study from the National Retail Federation, consumers plan to spend, on average, $102.50 on Valentine's Day gifts this year, down from $122.98 in 2008. That's a 16.7 percent drop. More
Developers Diversified Sells Shopping Center
from The Associated Press via Forbes
Shopping center developer Developers Diversified Realty said Monday it sold a Florida property for $22 million and five former Mervyns LLC locations to Kohl's Corp. Developers Diversified said it closed the sale of Ormond Town Square in Ormond Beach, Fla., on Jan. 15. The company said it has over $100 million of assets under contract or subject to letter of intent for sale. More
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NRF Seeks More Stimulus, Tax Incentives
from Supermarket News
The National Retail Federation said it issued a letter to Congressional leaders calling for more incentives to drive consumer spending. The massive economic stimulus bills have passed both the House and Senate in different versions and are now being reconciled. NRF reissued its call for a series of state sales-tax holidays to encourage retail spending, and said the current stimulus proposals "donít do enough to provide the jump-start that would bring shoppers back into stores." More
RadioShack Corp. Quietly Opens New Concept Store in Dallas Area
from The Dallas Morning News
RadioShack Corp. has quietly opened a new concept store in the Dallas area. Itís called Point Mobl and it sells portable devises in an upscale decor of white fixtures and clean glass with no sign of the Fort Worth-based consumer electronics company. The stores stock each mobile category from compact laptops and MP3 players to smart phones and GPS systems, in more depth than a RadioShack, which sells everything from hearing aid batteries to remote control cars. More
Microsoft to Open Stores, Hires Retail Hand
from The Wall Street Journal
Microsoft Corp. said it hired a former Wal-Mart Stores Inc. executive to help the company open its own retail stores, a strategy shift that borrows from the playbook of rival Apple Inc. The Redmond, Wash., company said it hired David Porter, most recently the head of world-wide product distribution at DreamWorks Animation SKG, as corporate vice president of retail stores for Microsoft. More
Study: Green Companies Do Better During Downturn
Thinking of curbing or curtailing sustainability efforts because of the troubled economy? Think again, says a new study by global management consulting firm A.T. Kearney, whose research indicates that firms with "true commitment to sustainability" outperform industry peers in the financial markets. More
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Blockbuster Unveils Online Game Rental Program
Blockbuster announced that it will be launching a new pilot program during the company's second quarter. This new initiative will allow Blockbuster Total Access online customers to rent games in addition to movies using their subscription plan. Blockbuster plans to make the offer available nationwide by mid-2009. More
U.S. Consumer Credit in Longest Decline Since 1991
U.S. consumer borrowing fell for the third straight month in December, the longest decline since 1991, while November's record contraction was revised sharply lower, a Federal Reserve report showed. December consumer credit fell by $6.6 billion to $2.562 trillion, as banks tightened credit and consumers burdened by debt avoided borrowing in the holiday season. More
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Recession is Family Dollar's Good Fortune
from WFAE 90.7 FM
Family Dollar has about 6,600 stores across the country that the company says serve some 14 million customers every week.The look of these stores is changing. A sample of Family Dollar's future is on display at store in north Charlotte, S.C. This store offers a wide line of products, but with smaller variety than much bigger chains. But despite their limitations, Family Dollar stores have seen an increase in sales. More
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