Corporate Governance

Amid economic uncertainty and low consumer confidence levels, retail CFOs are expecting a 3% increase in total 2011 sales, according to a recent survey by BDO USA. While the number reflects the study’s most optimistic sales forecast since 2007, it is down from the 4.7% sales increase reported by the Commerce Department in 2010.

Cincinnati -- Macy’s said it plans to hire approximately 78,000 seasonal associates for its Macy’s and Bloomingdale’s stores, call centers, distribution centers and online fulfillment centers nationwide for the 2011 holiday season. The total is up about 4% from the approximately 75,000 seasonal associates the chain hired last year.

“We expect additional hiring this year given the continued sales growth in our business – both in-store and online,” said Terry J. Lundgren, Macy’s, chairman, president and CEO.

Pittsburgh -- Dick’s Sporting Goods announced it is opening two stores this week, in Yonkers, N.Y., and Norcross, Ga.

The Yonkers location will be the retailer's 32nd store in the state of New York and their 458th nationwide. The Norcross location will be the retailer's fifteenth store in the state of Georgia and their 459th nationwide.

 

Mahwah, N.J. -- North American furniture and home accessories retailer Design Within Reach has selected TD Retail Card Services to develop and administer its private label credit card for its locations in the United States.

Under the agreement, the Mahwah, N.J.-based business unit of TD Bank, N.A., will direct all facets of the program for the retailer's 43 Studio locations.

The new Design Within Reach credit card will offer consumers a full menu of deferred interest and equal pay programs.

New York City -- Retailers should expect small gains in 2011 holiday sales, Deloitte forecast on Monday. The company’s retail & distribution practice expects total holiday sales to reach between $873 and $877 billion, representing a 2.5 to 3% increase over last season.

MINNEAPOLIS — Target's entry into Canada is nearing completion, as the company Friday finalized its real estate transaction with Zellers Inc. with the selection of 84 additional Zellers leases, bringing the total number of leases selected, including an initial group of 105 leases selected in May, to 189. From this second group, Target has acquired the leasehold interests for 29 locations, the vast majority of which will open as Target stores beginning in 2013. The remaining leases have been or will be sold to other Canadian retailers or back to landlords.

WASHINGTON, D.C. — The Grocery Manufacturers Association and the Food Marketing Institute have launched a new consumer education campaign around the front-of-pack nutrition labeling system launched in January by the food and beverage industry.

The Facts Up Front consumer education campaign will launch in early 2012, as consumers will see the new icons on a majority of products in the marketplace, the associations announced. The campaign will also be supported by a new website, www.factsupfront.org.

CINCINNATI — Kroger announced that it has become a member of the United States Hispanic Chamber of Commerce Million Dollar Club.

According to Kroger, membership into the USHCC Million Dollar Club, is awarded to corporations who have spent between $25 million to over $500 million with Hispanic suppliers, in the previous year.

This is Kroger's second consecutive year of qualifying for membership. The company was inducted in the $250 to $500 million annual expenditure category.

BENTON HARBOR, Mich. — Whirlpool announced it has been named to the 2011/2012 Dow Jones Sustainability Index (DJSI) for the seventh consecutive year. In 2011, the company's centennial year, Whirlpool was named to both the World and North America lists. The DJSI tracks the financial performance of the leading sustainability-driven companies worldwide.

SAN BERNARDINO, Calif. — Stater Bros. has promoted its senior regional VP.

The Southern California-based supermarket chain said that Dan Meyer, a 41-year company veteran, has been promoted to the newly created role of SVP retail operations. In this capacity, Meyer will be responsible for the retail operations of all 167 Stater Bros. stores, as well as overseeing the day-to-day operations of the Corporate Training Center. Meyer will report to George Frahm, EVP retail operations and administration.