White House Black Market (WHBM)

Washington -- Consumer spending could drop by almost $200 billion next year while depressing real consumer-spending growth by 1.7% if middle-class taxes rise in response to the fiscal cliff, according to a report released Monday by a White House economic team.

ARLINGTON, Va. — Retail Industry Leaders Association president Sandy Kennedy has responded to the White House report predicting the massive tax increases consumers could face if policymakers fail to avert the fiscal cliff.

The report was authored by the National Economic Council and the National Council of Economic Advisors.

Surprisingly strong third quarter same store sales growth at Chico’s was attributed to a blend of compelling fall fashion assortments and effective marketing.

For a split second after the presidential election the victor and the vanquished struck a conciliatory tone on finding the balance between raising taxes and cutting spending. Wal-Mart Stores, Inc. president and CEO Mike Duke wants the issue resolved as soon as possible.

Duke was among a group of business leaders in Washington earlier this week meeting with President Barack Obama and following the meeting Walmart released a statement expressing his views on the issue.

Alan Hoffman, former deputy chief of staff to Vice President Joe Biden, is the new SVP of global public policy and government affairs at PepsiCo.

Delray Beach, Fla. -- Indianapolis-based Kite Realty Group said that Francesca’s Collections has leased 1,200 sq. ft. at Delray Marketplace, located in Delray Beach, Fla. 

The center will open November 2012 and will be anchored by Publix and Franks Theatre/Imax. The 264,823-sq.-ft. Delray Marketplace is owned by KRG Atlantic Delray Beach, LLC. Other tenants include ROC, White House | Black Market, Apricot Lane, Bobby Chan, Jos. A. Banks, Charming Charlie and Chico’s.

Fort Meyers, Fla. -- Chico's FAS Inc.'s second-quarter net income surged a better-than-expected 22% amid increased sales across its brands. The retailer, which has now topped analyst estimates for the last three quarters, raised the low-end of its 2012 revenue outlook, citing its performance for the first half of the year. 

Chico's earned $52.4 million for the period ended July 28, compared with $42.8 million in the same  period last year.

New York -- White House officials have agreed to meet with members of the retail industry to discuss issues associated with implementation of the health reform law, responding to the industry's July 2 letter urging the administration to immediately release “long overdue” regulations that would allow employers to move forward on the law's requirements.