Financial/Banking

Atlanta -- Mild weather over much of the country spurred increased retail card spending growth in January, according to First Data Corp.’s SpendTrend, which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.

Overall year-over-year dollar volume growth was 7.0% in January, while overall transaction growth was 7.2%. Mild winter weather nationwide resulted in lower energy demands, providing consumers with additional income to spend at retailers.

By Craig R. Johnson, [email protected]

NEW CANAAN, Conn. — Not long after Deloitte released gloomy predictions for consumer spending in 2012, another firm is out with a more sunny forecast. Retail sales will increase by 5.7% in 2012, according to a new report by Customer Growth Partners, a consulting and research firm serving retailers, vendors and institutional investors.

The report, “The Great Consumer Reset/The Great Retail Reset,” finds that falling household and credit-debt levels, along with higher savings rates, are fueling consumer spending. 

New York City -- The Deloitte Consumer Spending Index, released Thursday, continued downward in January and consumer spending will face additional economic headwinds in 2012, according to Deloitte. The Index tracks consumer cash flow as an indicator of future consumer spending.

New York City -- Barneys New York is in discussions with its lenders about restructuring, Crain’s New York reported. Barneys, which operates nine namesake stores and 17 Co-op locations, is owned by Istithmar World, the investment arm of government owned Dubai World.

“Barneys New York is actively engaged in discussions with the company's small group of lenders to improve its balance sheet and further position Barneys New York for sustainable, long-term growth and success,” said a Barneys spokeswoman in a statement.

Cary, N.C. -- The Pantry reported Tuesday that it narrowed its loss in the quarter ended Dec. 29 to $2.9 million, from $12.2 million in the year-ago period.

Total revenue increased to $1.96 billion, beating Wall Street's expected $1.93 billion in revenue.

Same-store merchandise revenue increased 2% in the quarter.
 

New York City -- Aeropostale said Friday it has appointed seven-year board member Karin Hirtler-Garvey as chairman of the board, replacing Julian R. Geiger who has stepped down as chairman and resigned from the board.

In November, Gieger left his chairman/CEO post with Aeropostale to join Crumbs Bake Shop as president and CEO.

Hirtler-Garvey is a CPA, and most recently was the chief risk executive for Ally Financial Inc.  Prior to that, she held various senior level management positions at Bank of America.

Dallas -- Zale Corp. announced that Ken Brumfield has been appointed senior VP financial products. In this role, he will be responsible for all customer financing, warranty, insurance and repair product offerings.