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Retail sales down in June, for second consecutive month of falling receipts The Washington Post Share     U.S. retail sales flopped again in June, according to government data released this morning, as drops in auto purchases and gasoline prices dragged spending down 0.5 percent from a month ago. This is the second consecutive month of flagging sales, dimming hopes for the consumer revival that is critical to sustain an economic turnaround. But stubbornly high unemployment coupled with the sluggish pace of recovery has weighed heavily on consumers' wallets. More
General Growth / Jones Lang pact looks like win-win deal Retail Traffic magazine Share
Jones Lang LaSalle's announced acquisition of General Growth Properties' third party management business appears to be a boon for both companies. The deal further solidifies Jones Lang LaSalle as the dominant third party manager in the regional mall space while bringing General Growth one step closer to exiting bankruptcy and giving it a share of any profits on the assets it formerly managed. More Office Depot opens LEED for Commercial Interiors store Retail Digital Share
Office Depot announced that it has opened its first Leadership in Energy and Environmental Design (LEED) for Commercial Interiors registered store in Austin, Texas. Office Depot said it expects the store to be certified a few months after opening. Office Depot also announced that beginning with the Austin store, all new and relocated North American Office Depot retail locations will follow suit by receiving LEED CI certification, including 14 stores planned for 2010. More
Back-to-school sales may rise 16 percent, fueling recovery Bloomberg Businessweek Share
Back-to-school spending may rise as much as 16 percent in the U.S. this year, reversing year-ago declines and putting more muscle behind the economic rebound. Families with students plan to spend about $55.1 billion in the period, compared with $47.5 billion a year earlier, the National Retail Federation said, citing consumers surveyed by BIGResearch. Gap Inc. and Macy's Inc. are introducing new clothing lines to lure shoppers. More Yum executives suggest some KFC outlets could close The Courier-Journal Share
Some KFC restaurants in the U.S. could close, Yum! Brands executives suggested. "We want to have a quality system," Novak said in a conference call to discuss quarterly results. "I'd rather have 4,500 great-looking KFCs than 5,000 with 500 looking at being drive-by assets." At the 5,040 KFC restaurants in the U.S. that have been open at least a year, sales fell about 7 percent in the most recent quarter. "We need to get the business healthier," he said of KFC. More
Ringing in a cheapskate holiday season Adweek Share
If consumers won't boost the economy by spending more on themselves, will they help it by spending more on holiday gifts for others? Don't count on it. A new BIGresearch report, giving a foretaste of consumers' holiday-spending intentions, finds many respondents planning to restrain their spending in that area as well. Sixty-four percent said they're planning to "spend less on everyone" for holiday gifts this year. More
College students' spending power soars MediaPost Share
The number of college students matriculating this fall is hitting a new record, increasing 6 percent from 15.1 million in 2009 to 16 million this year, according to Alloy Media + Marketing's 10th Annual College Explorer Study. The college cohort (the vast majority between 18-34) wield formidable spending power, projected to increase 13 percent from $270 billion in 2009 to $306 billion this year. Within this figure, discretionary spending is set to increase 10 percent from $62.7 billion to $69 billion, making college consumers an even more desirable demographic for marketers. More
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