Budgets/Spending/Market Size

Reston, Va. -- U.S. online retail spending reached $43.2 billion for the second quarter, up 15% over a year ago, according to comScore.

It was the eleventh consecutive quarter of positive year-over-year growth and seventh consecutive quarter of double-digit growth. The top-performing online product categories were: digital content & subscriptions, consumer electronics, flowers, greetings and gifts, computer hardware, apparel and Accessories. Each category grew at least 16% over a year ago.

Arlington, Va. -- In letters sent to President Barack Obama and Governor Mitt Romney, the Retail Industry Leaders Association urged both to consider the retail industry’s prominent role in the U.S. economy as they advance their visions for the future.

The letter was signed by Gregg Steinhafel, Target chairman, president and CEO and Sandra L. Kennedy, RILA president. Steinhafel serves as chairman of the RILA board of directors. 

Bergen, N.J. -- Vitamin Shoppe Inc. reported Tuesday that net income for the second quarter surged 38.8% to $16.6 million, compared with $12 million in the year-ago period and marking the third straight quarter of profit increases.

Revenue rose 13.4% to $245 million, beating Wall Street’s expected $241.8 million in revenue.

The company said it is on track to open 52 stores in fiscal 2012.

Cary, N.C. -- The Pantry reported Tuesday that net income dipped to $14.8 million in the third quarter, compared with $19 million in the same quarter last year.

Total revenue fell to $2.14 billion from $2.26 billion. Wall Street expected revenue of $2.15 million.

Boca Raton, Fla. -- Office Depot reported Tuesday that it lost $64.3 million in the second quarter, widened from a $29.3 million loss in the same period last year.

Weakened sales in North America and Europe, along with a $23.9 million impairment charge and other restructuring charges, contributed to the weakened performance.

Revenue dropped 7% to $2.51 billion, compared with $2.71 in the year-ago period and missing analysts’ expected $2.6 billion in revenue. Sales in North America fell 8%, and same-store sales dropped 4%.

Austin, Texas -- A survey released Tuesday by coupon site RetailMeNot.com found that nearly 80% of parents spend up to $500 per child for back-to-school shopping.

Additionally, the survey – which was conducted with Ipsos Public Affairs – found that the majority of parents get the jump on the school year by starting their shopping in July and August (54%) versus after the school year begins.

A significant number of parents, 29%, find the back-to-school shopping experience to be either annoying or stressful.

New York -- Total operating income of all shopping centers on a square-foot basis in the second quarter of 2012 rose 4.9% from the same quarter last year, while operating expenses rose by a larger 5.8%, according to a new quarterly shopping-center benchmarking report from The National Council of Real Estate Investment Fiduciaries (NCREIF) and the International Council of Shopping Centers (ICSC).

Chelmsford, Mass. -- The Kronos Retail Labor Index edged down one-tenth to 4.2% in July, reflecting declines in both hires and applications. (The index is defined as the ratio of hires to applications within a given month, expressed as a percentage. A level of 3.0 means that for every 100 applications received, three hires occurred.)

Deerfield, Ill. -- Walgreen Co. said that its same-store sales fell 7% in July as its split with Express Scripts continued to hurt its top line. (The two companies last month reached an agreement to resume doing business, but that doesn't start until Sept. 15.)

The company's pharmacy same-store sales were down 9.7%, while front end sales fell 2.4%. The performance missed analyst expectations.
 

Indianapolis -- Hhgregg reported Thursday a loss of $5.7 million for the quarter ended June 30, compared with a loss of $0.8 million in the year-ago period. The electronics and appliances retailer cited higher expenses coupled with same-store sales declines for the poor performance.

Net sales increased 13.5% to $489.9 million from $431.5 million, and same-store sales decreased 5.1%.