Finance & Capital Management

Recently departed Sam’s Club president and CEO Brian Cornell is a little like legendary Cleveland Browns running back Jim Brown in that both walked away from their professions at the height of their careers. However, unlike Brown who gave up football for good after his best season ever, no one is expecting Cornell to stay retired.

NEW CANAAN, Conn. — Not long after Deloitte released gloomy predictions for consumer spending in 2012, another firm is out with a more sunny forecast. Retail sales will increase by 5.7% in 2012, according to a new report by Customer Growth Partners, a consulting and research firm serving retailers, vendors and institutional investors.

The report, “The Great Consumer Reset/The Great Retail Reset,” finds that falling household and credit-debt levels, along with higher savings rates, are fueling consumer spending. 

Atlanta -- Arby’s Restaurant Group said Friday that it has selected service provider BIAS Corp., based in Atlanta, to implement all of the needed Oracle applications and infrastructure. BIAS will serve as Arby’s long-term partner to provide EBS application managed services and support.

New Canaan, Conn. -- Retail sales will increase by 5.7% in 2012, according to a new report by Customer Growth Partners,  a consulting and research firm serving retailers, vendors and institutional investors.

The report, “The Great Consumer Reset/The Great Retail Reset,” finds that falling household and credit-debt levels, along with higher savings rates, are fueling consumer spending. 

New York City -- J.C. Penney has dropped its plans to open a store in the Kress Building downtown Seattle, according to The Seattle Times.

The chain signed a lease last May for two-thirds of the building, but the space is now being shopped around for sublease, the report said.

"This had nothing to do with Seattle or the location. The timing just did not match up with their new CEO," Seattle Pacific Realty broker Elizabeth Best, who is representing J.C. Penney in its search for a sublease tenant, said in the report.

Ron Johnson isn’t afraid of making waves. Just as my page-neighbor Jeff Green suggested in his latest column, “A Penney for your Thoughts,” the Apple-CEO-turned-JCP-chief is keenly focused on reinventing a department store dinosaur into a sleek, well-oiled retail machine. And if that means reneging on prior deals, so be it.

By Craig R. Johnson, [email protected]

New York City -- Walmart, Office Depot and Macy’s were the only three retailers listed among The National Association for Female Executives list of the "Top 50 Companies for Executive Women."

According to NAFE, women represent 53% of the employees at these companies, on average. Women make up 23% of the board of directors at the NAFE Top 50, versus 16% across the boards of companies in the Fortune 500. In addition, women make up 22% of the executive level at companies in the NAFE Top 50, versus 14% across Fortune 500 companies.

Everett, Wash. -- Zumiez Inc. will move its e-commerce fulfillment operations from its headquarters in Everett, Wash., to Edwardsville, Kansas, in May to accommodate their growing online business and to increase the speed of product deliveries to online customers.

San Diego -- PriceSmart announced that on January 9, 2012 it entered into an agreement to acquire approximately 16,038 square meters of property in La Union, Cartago, Costa Rica, upon which it plans to build its sixth warehouse club in Costa Rica.

PriceSmart currently anticipates opening the Cartago Club in the summer 2013 in the market area where local Costa Rican press has reported that Sam's Club plans to operate its first warehouse in the Costa Rica market.