Corporate Governance

New York -- Market share defensibility remains a key challenge for many traditional U.S. retailers, against a backdrop of minimal growth and heavy competition, according to a Fitch Ratings report. (Fitch views trends in market share as a key indicator of a company’s long-term financial outlook.)

Washington -- Consumer spending could drop by almost $200 billion next year while depressing real consumer-spending growth by 1.7% if middle-class taxes rise in response to the fiscal cliff, according to a report released Monday by a White House economic team.

Beijing -- Starbucks Coffee Co. advanced its growth plans in China with the opening of its 100th store in Beijing. The company also announced the launch of Starbucks China University, its talent development program.

Starbucks has announced that China will be its second largest market by 2014 and will have 1,500 stores by 2015 across more than 70 cities. It currently operates 700 locations throughout Mainland China.”

By Randy Frischer and Patricia Brandstetter

Walgreens’ new Chicago flagship, in the historic Noel State Bank building, preserves the architectural integrity of the space while adding contemporary accents. The store features an extensive collection of innovative offerings, products and services.

Learn more here.

More Stores of the Week

Bentonville, Ark. -- As holiday shoppers prepared to battle crowds on Thanksgiving weekend, Wal-Mart workers and supports geared up to protest at stores nationwide, openly criticizing the retailers’ wages, benefits and treatment of employees.

Nine people were arrested in Paramount, Calif., including three Walmart employees, for blocking a busy street. About 1,000 people protested there.

Plano, Texas -- A Friday report by Business Insider said that Ken Mangone, executive VP product development, design and sourcing for J.C. Penney Co., has abruptly resigned the company.

Mangone has been with the retailer since 1977 and is credited with helping to establish J.C. Penney’s private brands.

“We can confirm that Ken Mangone is no longer with the company,” a J.C. Penney spokesman told Business Insider. “We wish Ken continued success and thank him for his years of service….”

Washington, D.C. -- The National Retail Federation reported that more than 35 million Americans visited retailers’ stores and websites on Thursday – up from 29 million last year – scoring deals on everything from hot electronic items to cashmere sweaters and toys.

According to an NRF survey conducted by BIGinsight over the weekend, traffic and spending grew over the entire weekend. More people than ever before also shopped online and in stores on Black Friday, as 89 million shoppers braved the crowds, up from 86 million last year.

Bentonville, Ark. -- Walmart U.S. reported Saturday that its Black Friday events were its “best ever,” and followed on the heels of what U.S. president and CEO Bill Simon described as an “impressive Thursday,” on which 22 million customers shopped U.S. Walmart stores.
 

Reston, Va. -- Online retail spending for the November – December period will reach $43.4 billion, a 17% gain versus year ago, according to comScore. The increase represents an improvement compared with last season’s 15% rise, and is also far ahead of the retail industry’s expectation for a 4.1% increase in consumers’ overall spending this holiday season.