Budgets/Spending/Market Size

WASHINGTON — The National Retail Federation has announced plans to formally oppose a proposed settlement of a federal antitrust lawsuit over credit card swipe fees charged by Visa and MasterCard. NRF is also urging retailers to carefully consider their own decisions before next week’s deadline set by the court.

DENVER -- Fast food hamburger chain Smashburger plans to more than double its nationwide store count to about 500 in the next few years. The chain currently runs about 200 locations across the US.

According to public comments from Smashburger chariman and CEO Dave Prokupek, the chain may also launch a US IPO at some point in the future. “The idea of good food fast isn’t going to go away anytime soon,” said Prokupek.

GOODLETTSVILLE, Tenn. — The Dollar General Literacy Foundation has awarded more than $6 million in grants to more than 725 schools, nonprofits and literacy organizations to support adult, family and summer literacy programs.

Houston -- Stage Stores reported a loss of $6.9 million for the first quarter, compared with a loss of $418,000 for the year-ago period, as the retailer dealt with cool weather that put a damper on sales of spring apparel.
 
"The unseasonably cool weather in March and April, particularly when compared to last year's warm spring, strongly impacted our sales performance," president and CEO Michael Glazer said.

Revenue rose 4% to $378.6 million from $365.7 million. Same-store sales inched up 0.7%.
 

New York -- The Deloitte Consumer Spending Index (Index) dipped slightly in April, primarily due to an increase in the tax rate, while other economic fundamentals remain steady. The Index tracks consumer cash flow as an indicator of future consumer spending.

ECRM compared retail circular advertising in April 2012 vs. April 2013 and noticed some common overall trends across top retail chains.  While looking at the data, the biggest change from April 2012 to April 2013 came from Lowe’s Home Improvement.

Kohl's Corp. reported a 5% drop in first-quarter profit on weak sales due to unseasonably cold weather in large parts of the United States.

Kohl's net income fell to $147 million in the quarter ended May 4, down from $154 million a year earlier.

Sales fell 1% to $4.2 billion. Comparable-store sales fell 1.9%.

Cincinnati -- Macy’s reported increases in sales and income for the first quarter of 2013 compared to the same period a year earlier, despite cool weather that delayed spring shopping in key markets. Net income was $217 million, a 20% hike from $181 million in the year-ago period.  

While net income slightly beat analyst predictions, same-store sales rose 3.8%, short of the 4.3% expected by analysts. Net sales totaled $6.39 billion, up 4% from $6.14 billion in the year-ago period.

CINCINNATI — Macy’s reported increases in sales and income for the first quarter of 2013 compared to the same period a year earlier, despite cool weather that delayed spring shopping in key markets. Net income was $217 million, a 20% hike from $181 million in the year-ago period.  

While net income slightly beat analyst predictions, same-store sales rose 3.8%, short of the 4.3% expected by analysts. Net sales totaled $6.39 billion, up 4% from $6.14 billion in the year-ago period.

Washington, D.C. -- Import volume at the nation’s major retail container ports is expected to increase 3.3% in May over the same month last year, but growth could trickle to a standstill by the end of the summer, according to the monthly Global Port Tracker report released Tuesday by the National Retail Federation and Hackett Associates.