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PRSM Weekly
Oct. 31, 2008  
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Wall Street Rises After Report on Economy
from The New York Times
Stocks on Wall Street were higher yesterday, swinging across a wide range as investors weighed a painful report on the nation’s economy against signs that the flow of credit had been restored. Investors appeared encouraged by efforts from central banks over the last 24 hours to inject more money into the world’s financial system, offering a buffer for loans and a backstop for the short-term financing market. More

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Wal-Mart Ramps Up Standards for Suppliers in China, Around the Globe
from GreenBiz
Wal-Mart CEO Lee Scott with the company's head of international operations and the firm's business chief in China delivered a stern message to suppliers of the world's biggest retailer: Go green the Wal-Mart way or Wal-Mart will take its business elsewhere. More

NRF Asks House Ways and Means Committee to Include Consumer Relief in Second Round of Economic Stimulus
from The Wall Street Journal
With consumer confidence at a record low and retailers expecting the weakest holiday season in six years, the National Retail Federation has asked a congressional committee considering possible economic stimulus initiatives to include a second round of tax rebate checks or other direct relief for consumers. More

JCPenney Breaks Ground on Future LEED Store in Texas City
from The Wall Street Journal
J. C. Penney Company, Inc. recently broke ground in Fairview, Texas, on its first store registered and expected to obtain LEED certification. The LEED (Leadership in Energy and Environmental Design) Green Building Rating System, administered by the U.S. Green Building Council, is the nationally accepted benchmark for the design, construction and operation of high-performance green buildings. The 115,000-square-foot JCPenney store will open in August 2009. More

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Feds Issue New Identity Theft Recommendations
from Consumer Affairs
The Bush administration last week issued its annual Identity Theft Task Force Report, including 31 recommendations for combating identity theft and fraud, and boasting of a 26 percent increase in identity theft convictions from 2007. The 70-page report details steps taken by federal agencies to implement recommendations originally proposed in the Identity Theft Task Force's strategic plan. More

Malls Tempt those Who Live to Eat, Not Just Those Who Eat to Live
from Shopping Centers Today
Malls all over the world are spicing up their food offerings to suit the specific tastes of local shoppers, and not just by serving plates of seafood paella or bowls of tom yum soup. The American-style food court, typically a sea of tables ringed by fast-food vendors, was the de facto design in the early years of the global mall-building boom. But it is losing ground to more-sophisticated models. More

Sam's Club to Open Warehouse Club with Products from Mexico
from CNN Money
Wal-Mart Stores Inc.'s Sam's Club unit announced plans to open a membership warehouse club with imported products from Mexico aimed at attracting Hispanic customers. The store, called Mas Club, is slated to open during the first half of 2009 in Houston. More

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Organized Gangs of Thieves Hit Retailers Hard in San Francisco
from The San Francisco Chronicle
When state and federal law enforcement officers in June recovered more than $5.5 million in stolen goods and arrested 17 suspected members of a Bay Area shoplifting crime ring, it was clear it was more than a typical shoplifting bust. The theft of large volumes of goods - razor blades, Oil of Olay, Tylenol and other merchandise from such well-known retailers as Safeway, Target and Walgreens - was part of an organized crime ring. More

Online Retail Traffic Slows
from Information Week
Online retail traffic has decreased for the eighth week in a row, according to a recent report. Hitwise announced that U.S. visits to its index of 500 retail Web sites dropped 3 percent during the week ending Oct. 25, compared to the same week in 2007. Online retail also lost ground in terms of its share of overall Internet traffic, declining from this time last year, when it represented 3 percent of all U.S. visits, to 2.92 percent last week. More

CVS Caremark's 3Q Net Rises 6.7 Percent as Sales, Margins Grow
from CNN Money
CVS Caremark Corp. (CVS) reported a 6.7 percent rise in third-quarter net income as the nation's largest drug-store chain saw margins improve and same-store retail sales climb, more than offsetting higher pharmacy-services retail claims.More

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Despite Retailers' Early Fright, Costumes Selling Well
from The Arizona Republic
Two weeks ago, sales at Halloween shops in the Valley were so sluggish, it was scary. The roller-coaster stock market and plummeting 401(k) balances were terrifying enough. It seemed superfluous to think about plastic gravestones or scaring trick-or-treaters or dressing up as the Joker later in the month. This week, though, holiday magic finally arrived for retailers. More

Brinker Counting on International Restaurant Growth as U.S. Economy Sags
from The Dallas Morning News
With the U.S. economy sagging, restaurants opened by franchisees of Brinker International Inc. outside of the U.S. will rival domestic growth, the company's chief executive said this week. The fiscal year for the Dallas-based company, which began in July, will be a "difficult operating environment as our country works through these economic challenges," Doug Brooks, who also is chairman and president, told shareholders at the company's annual meeting. More

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