Finance & Capital Management

Competition from digital entertainment providers may be on the rise, but with an installed base of 43,600 locations, rental activity at Redbox hit a new high in the third quarter and generated traffic for retail partners in the process.

Woodland Hills, Calif. — GrowLife has announced the opening of its seventh store in Santa Rosa, Calif., on Oct. 25.

GrowLife Hydroponics operates in the legal cannabis industry with online and brick-and-mortar stores.

Cleveland - The Sherwin-Williams Company increased net income 12%, to $262.97 million from $234.95 million, during the third quarter of fiscal 2013.

Net sales grew 9.4% to $2.85 billion from $2.6 billion.

It was steady as she goes at Procter & Gamble during the company’s first quarter as the nation’s largest consumer packaged goods company generated sales and profits that met expectations.
Sales increased 2% to $21.2 billion and net income increased 8% to slightly more than $3 billion, or $1.04 a share, from $2.8 billion, or 96 cents a share.

Atlanta -- Among the affluent households, the average expenditure for December holiday gifts in 2013 is estimated to be $2,175 down 2.8% from 2012, according to a new survey of the wealthiest 10% of U.S. households by the American Affluence Research Center. However, affluent households spent in 2012 almost 7% more than they had anticipated in the 2012 survey, supporting the premise that people often tend to spend more for gifts than they had planned.
 

A compressed shopping season coupled with the continued growth of e-commerce has UPS forecasting that peak season daily package volumes will grow by 8%.

Phoenix — The metropolitan Phoenix retail market ended the third quarter with a retail vacancy rate at 10.5%, down nearly a full point from 11.3% a year ago, according to CBRE’s Phoenix Retail MarketView report for the third quarter.

The market recorded positive absorption of 385,625 sq. ft. for the quarter and so far this year has absorbed 1.1 million sq. ft.

San Diego – Petco has opened its first store in Mexico and announced plans for continued expansion in Mexico and Latin America through a previously announced joint venture with Grupo Gigante of Mexico. Together, the companies plan to open as many as 50 Petco stores in Mexico and Latin America by 2020.