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  • Discretionary spending down in June

    WASHINGTON — U.S. retail sales declined during the month of June, the Census Bureau reported Tuesday.

    U.S. retail and food services sales for the month, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $401.5 billion, an decrease of 0.5% from the previous month but 3.8% above the year-ago period. Retail trade sales were down 0.5% from last month but 3.5% above last year.

  • 'Paper, plastic or reusable?' Why variety in brands and bags matters

    By David Asselin, [email protected]

  • Catalina report: Simple demographic targeting on national advertising misses the mark

    New York -- Simple demographic targeting does not weight advertising exposures toward households that have greater purchasing value, according to a study by Catalina Marketing released Monday. The study shows that, for a cross-section of major consumer brands, an average of just 15% of television ad exposures reach the households that account for 80% of sales. Meanwhile, brand advertisers deliver 64% of exposures to households that account for just 2% of sales.

  • Mobile shopping grows in popularity as social media sales lag

    ARMONK, N.Y. — Retailers that want to grow sales and improve customer loyalty would be wise to invest in mobile shopping. According to a new report from IBM, retailers experienced 15% growth in sales from mobile devices. Conversely, sales traced to social media were down 20%.

  • Daffy’s to close all 19 stores

    New York -- New York City metro area retailer Daffy’s is going out of business. The discount apparel chain will close all of its 19 stores (eight of which are in Manhattan) this fall, according to various reports.

    The closings are not totally unexpected. In June, Crain’s New York Business reported that Daffy’s was having trouble paying its vendors.

  • Darden Restaurants to acquire Yard House USA

    Orlando, Fla. -- Darden Restaurants announced that it has agreed to acquire Yard House USA, Inc. for $585 million in an all-cash transaction from private equity firm TSG Consumer Partners LLC. Yard House operates 39 restaurants in 13 states.

    The brand will become part of Darden's Specialty Restaurant Group, which includes The Capital Grille, Bahama Breeze, Seasons 52 and Eddie V's.

  • CBRE: Hong Kong and New York are world’s most expensive retail destinations

    London -- Hong Kong is the world’s most expensive retail destination, with retail rents at $3,864 per square foot, according to the quarterly rankings of global retail rents from global property advisor CBRE Group. CBRE cited the city’s significant inbound tourist traffic and continued increases in domestic wealth as fueling demand from international fashion and luxury retailers.
     

  • Consumer confidence drops to lowest point this year

    New York -- Consumer confidence unexpectedly declined in July to the lowest level this year as Americans over concerns about the economy, Bloomberg reported.

    The Thomson Reuters/University of Michigan index of consumer sentiment dropped to 72 this month from June’s 73.2 reading. The metric was projected to rise to 73.5, according to a economists surveyed by Bloomberg News.
     

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