Budgets/Spending/Market Size

New York -- A strong majority of Americans (72%) - crossing regional, political, generational, gender and income lines – believe the current federal minimum wage of $7.25 per hour is lower than it should be. However, while Americans clearly feel minimum wage should be higher, exactly how high remains a more contentious subject.

New York -- Amazon should be feeling pumped about the  results of its one-day super sale anniversary event in July.

The Internet giant had a 30.1% increase in marketplace sales in July over the year-ago period, with the increase likely due to its “Prime Day” sale on  July 15, according to a ChannelAdvisor report.

Chicago -- Shoppers are making retailers wait for the back-to-school rush.

The majority (65%) of shoppers will start back-to-school shopping in the next few weeks, according to JLL’s Back-to-School Survey, which also revealed that 88% of shoppers will shop at a brick-and-mortar store for either school supplies or clothing, placing minimal online orders for merchandise.

The Woodlands, Texas – The decision to stop selling video game products, digital cameras, and certain tablets affected same-store sales at Conn’s Inc. during the second quarter and July fiscal 2016. However, Conn’s still reported total preliminary net retail sales of $325 million during the quarter, up 13% from the prior year period.

North Bergen, N.J. -- Vitamin Shoppe Inc. had a tough quarter but its earnings still beat the Street.

The retailer on Wednesday reported second-quarter net income of $14.2 million, down from $16.9 million in the year-ago period, but still topping Wall Street expectations.

The company also said it plans 50 new stores in 2015.

Revenue increased 5.3% to $322.3 million in the period, short of analysts’ forecasts for $327.9 million.

New York -- Petco Animal Supplies may be headed for an initial public offering or sale.

The retailer has selected Goldman Sachs Group to help with an IPO or sale that could value the pet supplies retailer between $4 billion and $5 billion, including debt, Reuters reported.

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Boca Raton, Fla. – Office Depot is accelerating its previously announced plan to close at least 400 stores as the retailer awaits its acquisition by Staples.

After shuttering a greater than expected 99 stores in the second quarter, Office Depot boosted its 2015 store closing target to 175 locations, with another 60 due to close in 2016. The closings are on top of 153 closings throughout 2014, including 108 stores in the fourth quarter of last year.

Denver – Whatever the cool kids (and their families) are doing this summer, back-to-school shopping does not appear to be on the agenda.

An ongoing shopper behavior study conducted by The Integer Group and M/A/R/C Research shows that retailers will continue to see the number of back-to-school shoppers in their stores drop.

In 2014, the data showed 36% of shoppers would not be shopping back-to-school, and this year the study is showing a 7% increase in those not shopping for back-to-school.

Petco is preparing for a potential initial public offering or sale that could value the pet supplies retailer at between $4 billion and $5 billion.

Reuters is reporting that the retailer has selected Goldman Sachs to help with an IPO of the San Diego-based company that could take place as soon as this year.

New York -- The Association for Retail Environments is bullish on the future.

The organization is predicting good days ahead for the U.S. economy in general and retail construction in particular. According to A.R.E.’s economic advisors, all indicators show that the 2016 economy in the U.S. will grow faster than it did in 2015. And while economic growth will slow in the back half of 2015, it will not be negative.