Budgets/Spending/Market Size

MEMPHIS, Tenn. — Fred's on Thursday reported sales of $179 million for the five weeks ended July 2, representing a relatively flat 0.1% increase, compared with the year-ago period.

Comparable-store sales for the month dropped 0.7%, compared with an increase of 1.7% in the same period last year.

San Diego -- Warehouse club operator PriceSmart reported Thursday that net income for the quarter ended May 31 rose to $16.3 million, compared with $12 million in the year-ago period.

Sales surged 23.6% to $421.6 million, from $341.2 million.

The company had previously announced it acquired 131,524 sq. ft. of land in Cali, Colombia, upon which it will build its second warehouse club in Colombia.
 

Stronger-than-expected sales from a number of retailers in June is adding credence to a recent forecast that this year’s back-to-dchool season could be the strongest in the past five years, which is good news for Walmart as it looks for a strong ending to its second quarter.

Shoppers continue to face a lot of economic headwinds this back-to-school season, but one forecaster has seasonal sales growing by 6.2% to $467 billion, the most since 2006.

Benbrook, Texas -- The City of Benbrook, Texas, announced Wednesday a new partnership with customer analytics firm Buxton to develop a new regional shopping center The Trails Town Center.

The public -private partnership will build a 1.5 million-sq.-ft., open-air, regional shopping and entertainment development projected to generate $375 million in annual retail sales and provide 6,250+ jobs.

New York City -- The International Council of Shopping Centers is forecasting an increase of 3% to $39 billion in total sales over the three-month back-to-school shopping season.

According to ICSC on Thursday, sales for the back-to-school season -- typically the second-largest driver of the year -- are predicted to be healthy.

City of Industry, Calif. -- Hot Topic reported Wednesday that its June same-store sales year rose 0.4%. Analysts, on average, had expected same-store sales to fall 2.4%, according to Thomson Reuters.

Total sales for the five weeks ended July 2 fell 1.8% to $58 million.
 

NEW YORK — Rising gas prices has consumers cutting down on grocery shopping and many turning to the discount stores over traditional food retailers, according to the latest research from TNS.

The higher cost of gas is good news for discount stores, as 32% of those surveyed are choosing to shop there over traditional retail outlets. However, when they shop, they are buying less.

New York City -- What topics interested retailers most in the first half of 2011? The most popular stories with chainstoreage.com readers from January through June ran the gamut, from the top 10 retail markets for 2011 to Dollar General’s ambitious expansion. Take a look at our top 10 most popular stories: 
 
1. Top 10 retail markets for 2011