Labor & Employment

New York -- Consumer spending increased in February by the most in five months as incomes rose and the job market improved.

The Commerce Department said on Friday consumer spending rose 0.7% last month, after an upwardly revised increase from 0.2% to 0.4% in January.  

Sunbury, Pa. -- Weis Markets has promoted Paul Stombaugh to VP/corporate controller.

Stombaugh will take on an expanded role in the company’s decision support and its strategic development. He also will continue to oversee its financial accounting and reporting functions, internal controls, treasury and budgets, Weis reported. He will continue to report to Scott Frost, SVP and CFO.

Prior to joining the company in 2010, Stombaugh worked in several progressive management roles at Foot Locker’s financial center.

Plano, Texas -- A Tuesday report by Reuters said that embattled J.C. Penney Co. has recently revived its previously abandoned pricing strategy of raising prices on its own brands then discounting them as a way to spike sales and margins.

Citing an emailed statement by Penney spokeswoman Daphne Avila, Reuters reported that the retailer began changing price tags on merchandise earlier in March and expects to complete the process in April.

ELMWOOD PARK, N.J. — The Craft & Hobby Association (CHA) today announced the appointment of Kerri Wickersheim as vice president of Marketing & Communications effective April 1. Wickersheim will oversee efforts focused on increasing awareness to the Association’s member base of activities and efforts designed to ensure success and growth within various creative vertical markets.

Bentonville, Ark. -- Wal-Mart Stores Inc. revealed in a Tuesday SEC filing that it will most likely incur a loss from bribery probes into its operations in Mexico and other countries.

According to the filing, Wal-Mart said it expects to incur costs beyond the $157 million it spent on the probes in 2013, but didn’t elaborate on the amount or the size of the potential loss.

Plano, Texas -- A Tuesday report by Reuters said that embattled J.C. Penney Co. has recently revived its previously abandoned pricing strategy of raising prices on its own brands then discounting them as a way to spike sales and margins.

Citing an emailed statement by Penney spokeswoman Daphne Avila, Reuters reported that the retailer began changing price tags on merchandise earlier in March and expects to complete the process in April.

New York -- Consumer confidence fell sharply in March, according to The Conference Board's Consumer Confidence Index. The Index, which had improved in February, now stands at 59.7 down from 68.0 last month.

The Present Situation Index decreased to 57.9 from 61.4. The Expectations Index declined to 60.9 from 72.4 last month.

Regional department store operator Gordmans Stores reported disappointing fourth quarter sales and indicated 2013 is of to a slow start.

Sales for the 14 week fourth quarter ended February 2 increased 9.4% to $202.5 million, but the gain was driven entirely by an additional week in the reporting period and the opening of nine new stores in four new markets and two new states. Same stores sales declined 4.1%.

Minneapolis -- Supervalu announced plans to eliminate about 1,100 positions nationwide, or about 3% of its national workforce. The reductions include both current positions and open jobs that will not be filled.

The news comes less than a week after Supervalu completed the sale of five of its grocery banners, including Albertson’s and Shaws/Star Markets. The company said the sale of the five chains means that the remaining business will need "significantly fewer" corporate and store support roles and functions.

New York -- Saks Fifth Avenue announced Monday that John Cruz has been named SVP and director of the New York City flagship store, effective April 29.

Cruz currently serves as VP and general manager of the company’s Beverly Hills store. He has worked at the NYC store before – as general manager 2005-2007 and VP and GM 2007-2010.

Cruz replaces Suzanne Stemper-Johnson, who is leaving Saks to pursue other interests.