Strategy

By Jeff Green

NEW YORK — Any hope that consumer spending will improve may be dampered by predictions of rising gas prices. 

Nielsen predicts that in the United States, Nielsen noted, households could be paying an extra $52.50 with a 50-cent increase in gas prices, $105 with a $1 increase and $210 if prices jump up $2, prompting consumers to tighten their wallets. This will mirror historic trends, which include increased trip compression, more value-conscious shopping alternatives and increased use of coupons, Nielsen said.

Boca Raton, Fla. -- Woolbright Development announced that James R. Hurlock, Jr. has been named the property manager for its Palm Beach County properties.

Hurlock will be the liaison between the company and tenants and will be responsible for the overall maintenance and management of the shopping centers. He was previously was the director of property management for American Commercial Realty in West Palm Beach.

Charlotte, N.C. -- Cato Corp.'s fiscal fourth-quarter net income climbed 8% as revenue improved. The company earned $7.9 million, compared with $7.3 million a year earlier.

Sales for the quarter ended January 29, 2011 were $224.3 million, a 3% increase over sales of $217.7 in the year-ago period. Same-store sales increased 1%.

PLEASANTON, Calif. -- Ross Stores has emerged as one of those value retailers that has shined during the recent economic downturn. The company once again reported strong earnings and sales growth for the fourth quarter and fiscal year, showing that while the economy may be improving, value remains an important concern for consumers.

New York City -- Men’s Wearhouse will remodel more than 100 stores and open 20 to 30 new locations this year, Women’s Wear Daily reported.

This marks a big increase from last year, when 35 stores were remodeled, the report said.

New York City -- Global design consultancy Fitch today announced the opening of its first office in China. The new office will service Fitch’s existing clients such as Nokia and Dell, as well as new clients in the buoyant Chinese market.

Ian Bellhouse, managing director for SE Asia & Greater China, Fitch, will lead the new operations.

Needham, Mass. -- PTC announced that Chico’s FAS has selected PTC Windchill FlexPLM product lifecycle management software to harmonize operations across category, brand, and departments.

By choosing Windchill FlexPLM across all of its brands, including Chico’s, White House|Black Market and Soma Intimates, the company is demonstrating a commitment to increase operational and inventory efficiency and reduce development time and production cost.