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  • MasterCard Spending Pulse: April’s total retail sales up 8.8% year-over year

    Purchase, N.Y. -- Excluding auto sales, total retail sales in April 2011 grew by 8.8% year-over-year, stronger than March’s growth rate, and substantially higher than the average 7.1% year-to-year growth rate of the previous quarter, according to MasterCard Advisors’ SpendingPulse, a macroeconomic report tracking national retail and service sales.

  • FMI report: Shoppers continue to tighten their belts

    New York City -- Rising fuel costs, higher commodity prices and increasing international market demand for food are pushing food inflation higher and higher, according to the Food Marketing Institute’s U.S. Grocery Shopper Trends report released Tuesday.

  • Build-A-Bear Workshop swings to Q1 loss

    St. Louis -- Build-A-Bear Workshop lost $2.3 million in the first quarter, compared with a profit of $1.7 million in the prior-year period.

    The retailer reported revenue of $96 million for the 13 weeks ended April 2, down 5% from $101.4 million a year earlier. Same-store sales were down 9%.

    The company said the quarter’s results were adversely impacted by the shift of the Easter holiday and associated school vacations, which moved into the second quarter this year.

  • Unemployment rises back up to 9%

    NEW YORK —The unemployment rate in April edged up to 9.0%, compared with 8.8% in March 2011.

    Construction employment was about unchanged in April, according to Friday's report from the Bureau of Labor Statistics. This industry has shown little net movement since early 2010, after having fallen sharply during the prior three years.

    Overall, the economy added 244,000 jobs in April, a higher gain than anticipated by analysts.

  • Faster growth required to advance on Fortune’s list

    Although revenues at Target last year increased 3.1% to nearly $67.4 billion, other big companies grew faster, and Target slipped three spots to 33rd from 30th in Fortune’s annual ranking of America’s 500 largest companies.

  • Kronos Retail Labor Index: Hiring on the rise

    Chelmsford, Mass. -- Retail hiring is on the rise, according to the May report of the Kronos Retail Labor Index, a family of metrics and indices that analyze the relationship between the demand and supply sides of the labor market within the U.S. retail sector.

  • Redcard needed for price leadership

    Target’s Redcard may become an increasingly more important factor in the retailer maintaining low price leadership.

    Customer Growth Partners’ price comparison survey for Target and Walmart revealed that on a comparable 55-item basket of items found at Walmart Supercenters and Target P-Fresh stotes or Target Superstores, Walmart had reasserted price leadership over Target by almost 3%--prior to Target’s Redcard 5% discount. For the first three months of the year Target had 0.6% advantage (prior to the Redcard discount) over Walmart. 

  • Survey: Growing concern over food and gas prices

    Chicago -- In its most recent consumer sentiment and behavior survey, Technomic, the Chicago-based food industry research firm, found that 84% of consumers believe that grocery prices have risen in the past three months and 62% believe restaurant prices have risen.

    Bob Goldin, executive VP of Technomic, believes that the rapid rise in gas prices, now at record highs, has raised consumer sensitivity to price increases in grocery stores and restaurants.

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