Finance & Capital Management

Washington, D.C. -- A report released Friday by the Commerce Department said that retail sales in the U.S. rose 0.5% in July, the most in four months and demonstrating that consumers may be holding their own in a tumultuous economy.

The 0.5% increase matched the Bloomberg News median forecast followed a 0.3% gain in June that was larger than estimated. Excluding auto sales, purchases rose more than projected.

NAPERVILLE, Ill. — OfficeMax announced that it has appointed Mike MacDonald as EVP and president of its global contract organization and Steve Mongeau as SVP sales and growth initiatives, effective Aug. 15.   

Walmart is due to report second quarter results on Tuesday, and the same-store sales and traffic trends at the company’s U.S. stores division will dominate the discussion.

Plano, Texas -- J.C. Penney Co. reported Friday that net income for the quarter ended July 30 was flat at $14 million, citing aggressive markdowns for a lackluster performance that fell below Wall Street expectations.

Revenue dipped to $3.91 billion from $3.94 billion in the year-ago period. Same-store sales increased 1.5%.

According to J.C. Penney, its focus on the middle-to-lower-income shoppers creates a challenge, as those consumers face economic uncertainty heading into the back-to-school and holiday shopping seasons.

Seattle -- Nordstrom reported Thursday that net income for its second quarter rose 20% to $175 million, compared with $146 million in the year earlier period.

Revenue surged 12.4% to $2.72 billion, benefited by strong promotions and matching Wall Street estimates. Same-store sales rose a solid 7.3%. The department store retailer has raised its profit outlook for the full year.

Its outlet concept Nordstrom Rack saw net sales increase 23.4% to $92 million, and same-store sales rose 4.8%.

Atlanta -- Jones Lang LaSalle announced it has been chosen for 13 new retail services assignments including property management, leasing and accounting services for a variety of owners throughout the United States.

During the first half of 2011, Jones Lang LaSalle has added 22 new retail assignments totaling more than 5.3 million sq. ft. of space.

MEMPHIS, Tenn. — Family Dollar opened its 7,000th store Thursday, further cementing the dollar-store channel as an area of rapid growth.

The store is located in Memphis, Tenn., and features a green building design and a spacious layout for an optimal shopping experience, the company reported. 

To commemorate the opening of its 7,000th store in Memphis, Family Dollar completed the celebration with the $7,000 donation to the Mid-South Food Bank, along with cans of food donated by members of the local community. 

Purchase, N.Y. -- A report released Thursday by MasterCard Advisors said that total retail sales in July sustained momentum despite inconsistencies in other areas of the economy.

According to MasterCard SpendingPulse, which tracks national retail and service sales, excluding auto sales retail sales in July 2011 grew by 8.7% year-over-year. 

Retail sales are on par with the average growth of the previous three months.