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Forbes Share     A sobering note of reality hit Wall Street this morning on word that retail sales in the U.S. unexpectedly fell last month, leading stocks lower at the opening bell. Stocks rose sharply with the major indexes closing up nearly 3 percent after Chinese trade data showed exports and imports surged more than 48 percent in May, easing recent concerns that Europe's sovereign debt woes would upend the global economic recovery. The Commerce Department said retail sales declined 1.2 percent in May, with auto sales down 1.7 percent, a sign that consumers are still struggling to make ends meet and are less willing to open their wallets and go shopping. More
NRF survey projects spending increase for dear old dad Consumer Affairs Share
As the economy continues its slow rebound, consumers plan to spend slightly more paying homage to the most important men in their lives this Father's Day. According to the 2010 Father's Day Consumer Intentions and Actions Survey conducted by BIGresearch for the National Retail Federation, the average person will spend $94.32 this year, compared with $90.89 in 2009. Total Father's Day spending is expected to reach $9.8 billion. More Darden debuts website for green efforts Nation's Restaurant News Share
Darden Restaurants Inc., parent to the Olive Garden and Red Lobster casual-dining chains, has launched a website devoted to the company’s sustainability programs as well as a redesigned corporate website. Darden, which in April received Leadership in Energy and Environmental Design, or LEED, certification for its new corporate headquarters in Orlando and has announced a program of sustainability in its restaurant units, unveiled its new www.generationcommitment.com and www.darden.com websites. More
Brown Shoe acquires full control of Edelman Shoe St. Louis Post-Dispatch Share
Brown Shoe Co. has acquired the remaining 50 percent interest in Edelman Shoe Inc. that it didn't already own for $39.6 million. Under the deal, Brown Shoe will acquire the outstanding shares of the high-end women's shoe company from its founders — Sam and Libby Edelman — with a mix of cash and stock. More Michael Hill closes stores Jeweller magazine Share
Jewelry retail giant Michael Hill has closed 50 per cent of its stores in the harsh U.S. market. The move came after the New Zealand-based company announced an expected operating loss of approximately $7.3 million for its US market during the 2009/10 financial year. There are now nine Michael Hill stores remaining in the U.S. – down from 17 – all based within the greater Chicago area. More
Hy-Vee joins With EPA to trim chiller emissions Progressive Grocer Share
Hy-Vee Inc. is teaming with the U.S. Environmental Protection Agency's GreenChill Program to reduce refrigerant emissions, help protect the ozone layer and fight climate change. "Hy-Vee's participation in GreenChill underscores the company's commitment to sustainability in all aspects of our operations," said Michael Smith, Hy-Vee's director of real estate and sustainability. More
Best Buy closing the gender gap the Boston Herald Share
This year, Best Buy is adding 100 small stores in shopping malls, focused on smart phones. What really excites the company is that those Best Buy Mobile stores are winning a new group: shoppers who've ignored its traditional big-box stores. "We're accessing a new group of customers, and we're particularly scoring with women, female customers, in those places," Brian Dunn, Best Buy's chief executive, told analysts this spring. "That is very, very encouraging to us." More
Big Lots shies away from "closeout" identify to capture new vendors, shoppers Home Textiles Today Share
Looking to forge relationships with new vendors and at the same time better appeal to shoppers, Big Lots recently altered its tagline to omit the word "closeout." The new tagline is "Extreme Value" — a change from the prior "Brand names, closeout prices" message. During the discount chain's presentation this morning at the 30th annual Piper Jaffray Consumer Conference, Senior Vice President and CFO Joe Cooper discussed Big Lots' varied efforts to shape its merchandise offering and price points to fit its "Extreme Value" approach. More
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