Budgets/Spending/Market Size

Chelmsford, Mass. -- Kronos on Monday announced the release of its Retail Labor Index, which showed a February increase to 4.2% from 3.85% in January. (This metric is defined as the percentage of job applications that result in a hiring, normalized within a scale of 0 to 100. A level of 3.0% means that for every 100 applications received, three hirings occurred.)

February’s metric is the highest the Index has been since August 2008 when it reached 4.45%, according to Kronos.

RESTON, Va.  -- According to comScore's Q4 2010  U.S. retail e-commerce sales estimates, online retail spending reached a record $43.4 billion for the quarter, up 11% versus year ago. This growth rate represented the fifth consecutive quarter of positive year-over-year growth and second quarter of double-digit growth rates in the past year.

LOS ANGELES —  According to PriceGrabber survey on consumer purchasing decisions for Valentine's Day, 52% of Valentine’s Day shoppers indicate that the economy will not have any effect on their purchasing decisions for Valentine’s Day 2011. Despite their confidence in the economy, 78% of survey respondents indicate they will not spend more money on Valentine’s Day shopping this year compared with last year. The remaining 22% of consumers plan to spend more on Valentine’s Day shopping this year.

Sunbury, Pa. -- Weis Markets reported Thursday that net income for fiscal 2010 increased 8.7% to $68.3 million, compared with $62.8 million in the prior year.

Sales for the year increased 4.1% to $2.6 billion. Same-store sales edged up 1.0%.

Weis Markets currently operates 164 stores in its home state of Pennsylvania and in Maryland, New York, New Jersey and West Virginia.

Woonsocket, R.I. -- CVS Caremark Corp. reported Thursday that profit for the fourth quarter fell 2%. The company cited client losses and fewer Medicare prescription drug program members for the lackluster performance.

Net income declined to $1.03 billion, compared with $1.05 billion in the year-ago period. Revenue fell 4% to $24.77 billion. Wall Street expected $24.98 billion in revenue.

COLUMBUS, Ohio -- Big Lots announced that  fourth quarter retail sales for the fiscal quarter ended Jan. 29 were $1.5 billion, an increase of 3.8% compared with $1.451.5 million for the fourth quarter of fiscal 2009.  

Comparable-store sales were flat for the fourth quarter of fiscal 2010, which is consistent with the low end of the company's previously communicated guidance of flat to an increase of 2%. 

From a merchandising perspective, furniture, home, and seasonal were the best performing categories, the company reported.

Washington, D.C. -- A report released Thursday by the Institute for Supply Management said that the U.S. service sector, which includes retailers, grew in January at the fastest pace in five years. The report, along with other data, suggests a growing economy and stronger hiring.

The private trade group said its index of service sector activity rose to 59.4 last month. That was up sharply from December's reading of 57.1. It was the fourteenth straight month of growth and the highest reading since August 2005.

BENTON HARBOR, Mich. -- Whirlpool Corporation announced fourth-quarter net earnings of $171 million, or $2.19 per diluted share, compared with $95 million, or $1.24 per diluted share reported during the same period last year.  Fourth-quarter adjusted diluted earnings per share totaled $2.11 compared with $1.67 in the prior year.  Sales of $5 billion increased 4% from the fourth quarter of 2009.

Fourth-quarter operating profit totaled $202 million compared with $199 million in the prior year.