Budgets/Spending/Market Size

If consumers can be trusted to accurately describe their spending intentions well in advance of when they actually incur expenses then this year’s back-to-school season will be weaker than last year’s. The National Retail Federation’s annual BTS survey got a lot of attention when it was released last week because consumer data compiled by the trade group forecast a decline in spending.

WASHINGTON — NRF reported that total back-to-school spending on grades K to 12 is expected to reach $22.8 billion. According to NRF’s 2011 Back-to-School survey conducted by BIGresearch, families with children in grades K to 12 will spend an average of $603.63 on apparel, school supplies and electronics, within a few dollars of last year’s $606.40 average. 

PLEASANTON, Calif. — Safeway Inc. reported net income of $145.8 million, or 41 cents per diluted share, for the second quarter of 2011 compared with $141.3 million, or 37 cents per diluted share for the second quarter of 2010.

The company reported that total sales increased 7.1% to $10.2 billion in the second quarter of 2011 from $9.5 billion in the second quarter of 2010. Identical-store sales, excluding fuel saw a 0.5% increase.

New York City -- A Bloomberg report on Thursday said that consumer confidence stagnated last week, as the Bloomberg Consumer Comfort Index was minus 43.3 in the period to July 17, the highest since April, compared with minus 43.9 the prior week.

The monthly gauge of the economic outlook improved from a two-year low, according to the report.

Cleveland -- Sherwin Williams Co. reported Thursday that profit for the second quarter fell 1% to $179.1 million, compared with $181.7 million in the year-ago period.

The paint company cited higher raw material costs and increased expenses for the performance slip.

Revenue rose 10% to $2.35 billion from $2.14 billion, missing Wall Street expectations of $2.41 billion. Same-store sales increased 4%.
 

Chicago -- A report released Thursday by ShopperTrak found that retailers should expect fewer shoppers this back-to-school season, but average tickets are anticipated to be larger.

According to ShopperTrak, national retail sales, when compared with the same period last year, will rise 3.8% in August, while foot traffic will decrease 2.9%.
 

Washington, D.C. – Back-to-school sales are expected to be flat this coming season, according to the 2011 Back-to-School survey, issued Thursday by the National Retail Federation and conducted by BIGresearch. The study showed that families with children in grades K-12 will spend an average of $603.63 on apparel, school supplies and electronics, a few dollars short of last year’s $606.40 average.

North Plainfield, N.J. -- Results of a survey released Tuesday by shopping center owner Levin Management Corp. showed that, while store sales remain relatively flat, the majority of its retail tenants are optimistic about the balance of 2011.

Baltimore -- A white paper released Tuesday by marketing communications firm Vertis Communications, entitled “power2thewomen2.0: the Shopping Trend Revolution Continues,” revealed that women wield formidable purchasing power, controlling approximately $5 trillion in spending annually, but that how they interact with retailers and marketers differs greatly.

NEW YORK — Global consumer confidence cautiously edged up one index point to 93 in the second quarter as confidence increases in booming Asian markets were offset by European consumers’ growing concerns of an escalating debt crisis, which battered confidence levels in Spain, Italy and France, according to the latest edition of the Nielsen Global Consumer Confidence Index. Consumer confidence rose two points in the U.S. in Q2 to 87.