Finance & Capital Management

Los Angeles -- Faced with an uncertain economic and political environment and the first government shutdown in nearly two decades, Americans are expected to tighten their holiday budgets this year, beginning with Halloween, according to market research firm IBISWorld. Total spending on the holiday is anticipated to grow only 3% to $7.63 billion in 2013, compared to a strong 17.8% increase in 2012.
 

Matthews, N.C. -- Family Dollar has elevated Jason Reiser to the position of senior VP/lead merchandising officer at Family Dollar, according to an internal memo from company president and COO Mike Bloom.

New York -- Chico's FAS is expanding outside of the United States, opening a White House Black Market store at Yorkdale Shopping Centre, Toronto on Oct. 24. The women's apparel retailer will open its second Canadian location at Square One, Mississauga on Oct. 29, followed by Upper Canada Mall, Newmarket on November 12.

Yorkdale Shopping Centre and Square One are owned by Oxford Properties Group and Alberta Investment Management Corporation (AIMCo).Upper Canada Mall is owned by Oxford Properties Group and Canada Pension Plan Investment Board (CPPIB).

New York -- E-commerce and payments fraud remains high on the agenda for consumer-facing organizations, according to a recent Deloitte online poll. Nearly half (47%) of executives and managers reported that fraud protection ranks as a "high priority" for their organization, and a further 8% cited this as their organization's number one priority.

Jacksonville, Fla. -- Stein Mart is expanding its presence this fall with four new stores and two relocated stores. The new stores are located in El Paso, Texas; Buford (Atlanta), Ga.; Elk Grove (Sacramento), Calif.; and Watchung, N.J.

Pleasanton, Calif. — Ross Dress for Less opened 24 new locations last Friday, on Oct. 11. The openings complete the retailer’s 2013 expansion plan to open 65 new locations this year.

The new store openings bring the total of Ross stores to 1,154. Four of the new Ross stores opened in Illinois, three in Missouri and one in Indiana, as the retailer continues its growth in new markets it has entered over the past two years.

Pleasanton, Calif. — Dd’s Discounts recently opened nine new locations across five states as part of the retailer’s 2013 expansion program totaling 23 new locations.

The retailer now operates 131 locations in eight states. The new stores are located in California (4), Texas (2), Arizona (1), Florida (1) and Tennessee (1).

North Plainfield, N.J. — Retail leasing activity remained strong through the spring and summer months of 2013, according to Levin Management, which reports more than 295,000 sq. ft. of renewals and transactions from Easter through Labor Day. The company’s portfolio includes 90 properties totaling 12.5 million sq. ft. of space in New Jersey, New York, Pennsylvania, Virginia and North Carolina.

The opening of two new Stein Mart stores in New Jersey and California this month will round out the discount department store operator's 2013 capital expansion program and give it a year-end total of 264 units.

The opening follows four new stores last month in El Paso, Texas; Buford, Ga.; Elk Grove, Calif.; and Colorado Springs, Co., as well as a September comparable-store sales increase of 5% and a total net sales increase of 7.3% for the month.

Johnson & Johnson has elected Mark McClellan, senior fellow in economic studies and director of the Initiative on Value and Innovation in Health Care at the Brookings Institution, to the company's board of directors.

McClellan will serve on the Regulatory, Compliance and Government Affairs Committee and the Science, Technology and Sustainability Committee.