Finance & Capital Management

Irvine, Calif. – Showrooming is not just something afflicting large retail chains. Eighty percent of small retailers also report being affected by showrooming, with 47% indicating a moderate impact, according to new data from small business software provider Sage North America.

In addition, Sage data finds that $68 of every $100 spent at a local retailer stays in the community where it is spent, compared to only $32 out of every $100 spent at a non-local retailer.

Washington, D.C. – Compared to a record-breaking back-to-school shopping season in 2012, this year’s back-to-school season will not be as impressive. New figures from the NRF and Prosper Insights show that families with school-age children will spend an average $634.78 on apparel, shoes, supplies and electronics, down about 8% from $688.62 last year. Total spending on back-to-school is expected to reach $26.7 billion.

ATLANTA — Coca-Cola's board of directors has appointed Brent Hastie as the company's VP. Hastie was recently named VP of strategy and planning, which became effective just a few days ago.

BENTON HARBOR, Mich. — Further signs of the nation's recovering housing market were evident in Whirlpool Corporation's reported net earnings of $198 million for the second quarter ended June 30, compared to net earnings of $113 million for the same period last year.

The company's net sales for the quarter were $4.7 billion, compared to $4.5 billion reported during the same period last year. Excluding the impact of foreign currency as well as Brazilian tax credits, sales increased approximately 6%.

TORONTO — It is easy to see why Loblaw wanted to acquire Canada’s Shoppers Drug Mart following the release of second quarter results that highlight attractive growth prospects.

Canada’s Shoppers Drug Mart saw a boost in second-quarter sales and earnings, and according to president and CEO Domenic Pilla, the company is “well-positioned heading into the back half of the year.”

NEW YORK — U.S. consumers spent more in June, as real home prices and initial unemployment claims continued to improve, according to the Deloitte Consumer Spending Index for June 2013.

The index comprises four components of tax burden, initial unemployment claims, real wages and real home prices, increased to 4.3 from a reading of 4.2 the previous month.   

Following is a summary of the four main components of the Index:

STOCKHOLM — With the U.S. housing market continuing to improve, it's no surprise that Electrolux CEO Keith McLoughlin expects the company's North American division to maintain the strong sales and earnings growth achieved in the second quarter throughout the rest of the year.

Because of the rising appliance consumption in North America, the company anticipates that demand for appliances in the U.S. will increase by 5-7% in 2013.

Walmart.com is the only conventional retailer to rank in the monthly Top 50 Web Properties report from comScore Media Metrix, but June traffic to the retailer’s site was below year-ago levels even as e-commerce is hailed as the next growth engine.

Chicago -- According to Technomic's Top 150 Fast-Casual Chain Restaurant Report, fast casual makes up just 14% of the total $223 billion limited-service restaurant segment, but its sales continue to outpace other operators. Fast-casual sales increased 13% in 2012, and the largest chains — those which each made more than $325 million last year — did even better, growing by 16%.

Charlotte, N.C. -- Regional shopping center company Crosland Southeast has acquired 24 former Blockbuster stores from Blockbuster Corporate, spanning North and South Carolina, Louisiana, Tennessee and Florida. Blockbuster vacated all stores at closing, and Crosland Southeast has already sold 11 of the 24.