Finance & Capital Management

MINNEAPOLIS — Winmark Corporation, franchisor of four value-retail store concepts, is developing a new concept focused on reselling women's apparel and accessories.

Winmark Corporation operates 968 franchises under the Plato's Closet, Play It Again Sports, Once Upon A Child and Music Go Round brands, all of which buy, sell, trade and consign gently used merchandise. The franchisor intends to market the new retail concept to savvy and frugal shoppers.

NEW YORK — Despite caution among consumers, retailers wrapped up 2012 with a healthy holiday shopping season, according to a new report by a retailing trade group.

The National Retail Federation said that holiday retail sales increased 3% over the year before, to $579.8 billion. December retail sales increased 0.8% seasonally adjusted from November and 2.1% unadjusted year over year. Nevertheless, the 3% increase was still below the NRF's projected 4.1% growth. Meanwhile, nonstore holiday sales grew 11.1%.

New York -- Total holiday retail sales increased 3% to $579.8 billion, below the National Retail Federation s projected forecast of 4.1%. Non-store holiday sales grew 11%, below the 12% growth forecast by Shop.org. (The NRF sales figures exclude automobiles, gas stations and restaurants.)

“For over six months, we’ve been saying that the fiscal cliff and economic uncertainty could impact holiday sales. As the number shows, these issues had a visible impact on consumer spending this holiday season,” said Matthew Shay, CEO, NRF.

Paris -- French luxury group PPR’s Tuesday announcement that it has acquired 51% of British fashion brand Christopher Kane means that the luxury designer will soon have branded boutiques. The first is slated to open in London as early as 2014.

According to a report by Reuters, the deal is part of PPR's strategy to add to its luxury portfolio with small brands that have growth potential.

"We think it can become a sizeable business," Alexis Babeau, managing director of PPR's luxury division, told Reuters on Tuesday.

Waltham, Mass. -- Profitect announced Monday that Weis Markets has selected its cloud-based Profit Amplification solution, a pattern-seeking predictive analytics tool, for deployment throughout the chain.

Weis Markets will initially deploy the Point of Sale and Inventory modules of the Profitect suite.

NEW YORK — The National Retail Federation has elected Saks chairman and CEO Stephen I. Sadove to chairman of the NRF board of directors and chairman of its executive committee. Sadove succeeds NRF’s chairman, Terry J. Lundgren, who is chairman, president and CEO of Macy’s.
 

LEXINGTON, Ky. — Mattress and pillow manufacturer Tempur-Pedic has announced that its EVP of global operations, Matthew Clift, is retiring.

A succession plan and search is already underway with Clift continuing to lead the global operations team during the transition period.

Tempur-Pedic credits Clift with the global operations team’s success, which is describes as vital to the company's success and progression in recent years.

Fort Worth, Texas -- RadioShack Corp. announced that it is ending its relationship with Target, where it helps operate Target Mobile in 1,500 Target stores, effective April 8.

The RadioShack and Target partnership provided RadioShack access to manage Target's post-paid mobility business. But RadioShack did not manage the prepaid mobility business or the wider range of accessories offered in Target stores.

New York -- The National Retail Federation board of directors said Monday it has adopted a resolution directing NRF to “strongly encourage” Congress to enact comprehensive tax reform in 2013, and it set out a list of principles aimed at achieving tax policy that would boost the economy and encourage job growth.

New York -- The National Retail Federation on Monday announced that Saks Inc. chairman and CEO Stephen I. Sadove has been elected chairman of the NRF board of directors and chairman of its executive committee.

Sadove succeeds NRF’s immediate past chairman, Terry J. Lundgren, chairman, president and CEO of Macy’s.