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Survey: Mother’s spending expected to rise in over last year
Washington, D.C. -- Survey results released Tuesday by the National Retail Federation said that consumers are expected to stretch their dollars a little further this Mother’s Day to make sure mom has the perfect day.
According to NRF’s 2012 Mother’s Day consumer spending survey conducted by BIGinsight, the average person celebrating the holiday is expected to spend $152.52 on gifts, up from $140.73 last year. Total spending is expected to reach $18.6 billion.
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Sears completes sale of 11 properties to General Growth
Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday that it completed the $270 million sale of 11 full-line Sears store locations to General Growth Properties.
Sears said the stores will continue to operate as Sears locations into 2013 or 2014, with final closing dates to be announced later this year. The stores are in Florida, Hawaii, Illinois, Iowa, Minnesota, Oklahoma, Texas, Utah and Washington.
Sears announced in December it would close between 100 and 120 stores to raise cash after a disappointing holiday season.