Finance & Capital Management

New York City -- Consumer confidence rose more than forecast in January, reaching its highest level in eight months amid signs of an improving labor market.

The Thomson Reuters/University of Michigan preliminary index of consumer sentiment increased to 74 from 69.9 at the end of December. The median estimate in a Bloomberg News survey called for 71.5. The measure has increased 9.9 points in the last two months, the biggest such gain since April-May 2009.

In an era when retail cashiers look warily at a $100 bill, hard to imagine what a man was thinking when he tried to pass a $1 million bill at a Walmart in North Carolina.

Washington, D.C. -- A report released Thursday by the National Retail Federation and Hackett Associates said import cargo volume at the nation’s major retail container ports should be nearly flat during January compared with the same month last year, but significant year-over-year increases are expected this spring.

Menomonee Falls, Wis. -- Kohl's Corp. said Thursday it is doubling the size of its design office in New York City, as well as adding its first design studio on the West Coast, in Santa Monica, Calif.

The move, said the company, represents a commitment to its exclusive brands.

"The investment reinforces our commitment to offering world-class brands at compelling value to our customers," said Kevin Mansell, Kohl's chairman, president and CEO, in a statement.

Washington, D.C. -- The National Retail Federation reported Thursday that holiday sales edged NRF forecasts, rising 4.1% to $471.5 billion for the period.

NRF predicted 3.8% growth. Results exclude automobiles, gas stations and restaurants.

SAN FRANCISCO — Williams-Sonoma Inc. said Thursday it has cut its fiscal Q4 earnings outlook below Wall Street expectations due to heavy holiday promotions levels.

The company said it had to offer discounts to entice shoppers this holiday season. Although earnings guidance has been reduced to below expectations, Williams-Sonoma’s revenue outlook remains in line with Wall Street, trimmed to a range of $1.24 billion to $1.26 billion. The company had previously expected revenue as high as $1.27 billion.

Minneapolis -- Target Corp. said Thursday it will buy back up to $5 billion in shares under a new stock repurchase program.

The current $10 billion program is slated for completion in the next few months, said Target. The newly announced $5 billion program is expected to be completed in the next two to three years.
 

Conshohocken, Pa. -- Ikea said Thursday it plans to install solar energy panels on five more of its U.S. locations – all of them in the Midwest. Installation is slated for summer 2012 completion and will expand Ikea’s solar presence to nearly 85% of its U.S. locations.