Consumer Attitudes & Behavior

New York -- J.C. Penney is changing course on its no-sales policy. It was just one year ago that the retailer, amid much fanfare, announced it was nearly eliminating sales events from its stores in favor of a three-tier pricing strategy and everyday low pricing. But on Monday the Associated Press reported that J.C. Penney is not only bringing back sales promotions to its stores, but will also add price tags or signs for approximately half of its merchandise that will show the "manufacturer's suggested retail price" next to J.C.

WASHINGTON — Retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 3.4%, down slightly from 4.2% in 2012 and 5.8% in 2011, according to the National Retail Federation’s 2013 economic forecast.

The lukewarm forecast, released Monday, comes on the heels of a holiday season that went head-to-head with Washington’s political wrangling over fiscal concerns, shifting consumers’ spending plans downward. In the end, holiday sales in 2012 grew 3.0%.

Washington, D.C. -- Retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 3.4%, down slightly from 4.2% in 2012 and 5.8% in 2011, according to the National Retail Federation’s 2013 economic forecast.

The lukewarm forecast, released Monday, comes on the heels of a holiday season that went head-to-head with Washington’s political wrangling over fiscal concerns, shifting consumers’ spending plans downward. In the end, holiday sales in 2012 grew 3.0%.

Atlanta -- Mother Nature Network and Walmart are teaming up to launch an online destination (mnn.com/leaderboard) that profiles the biggest innovations in sustainability – and the pioneers who are creating them.

LOS ANGELES — Consumers expect to spend slightly more on Valentine's Day merchandise this year than last year, according to a report by market research firm IBISWorld.

The report forecasts spending of $134.08 per person, compared with last year's $133.99. Total revenue for the holiday is expected to grow by 3.2%, to $20.8 billion, despite incomes and consumer sentiments remaining below what they were before the recession.

Oakbrook Terrace, Ill. -- A Friday report by Mid-America Real Estate Corp. found that 2012 shopping center construction in the Chicagoland area grew 10% year-over-year, after a four-year decline.

According to the 2012-2013 Chicagoland Shopping Center Report, square footage increased from 1.02 million sq. ft. of space in 2011 to 1.14 million sq. ft. – a difference of about 113,000 sq. ft.

SALT LAKE CITY  — Overstock.com reported that fourth quarter revenue grew 9% to $342 million from $314 million for the same period last year. The company posted net income of $8.8 million, or 37 cents per diluted share, compared with a net loss of $3.4 million or 15 cents per diluted share.

While Walmart continues to fine tune its small format Express concept, ample opportunity awaits in the C-store space.

The latest data from Nielsen shows the number of U.S. convenience stores continues to expand and last year set a new record with 149,220 units. Roughly 63% of those units are independent operators who presumably charge higher prices than what would be available at Walmart’s convenience stores.