Retail

New York -- Consumer spending increased in February by the most in five months as incomes rose and the job market improved.

The Commerce Department said on Friday consumer spending rose 0.7% last month, after an upwardly revised increase from 0.2% to 0.4% in January.  

Palm Beach, Fla. -- Sloan’s, an upscale ice cream, candy and baked-goods emporium, has launched a national franchising program, targeting regions in Florida, the Carolinas, Georgia, New York and New England and throughout California.

Burlington, Mass. -- KeyPoint Partners said it has added three Massachusetts retail properties to its portfolio that include property management and leasing assignments.

The firm has been awarded property management contracts for 1080 Route 28, South Yarmouth and 978 Boylston Street, Newton; and property management and leasing contracts for Treble Cove Plaza, Billerica. Marathon Realty awarded the contract.

Wayne, N.J. -- Toys “R” Us on Friday reported that its sales and profits declined in the fourth quarter and the full year. The company also revealed in a regulatory filing with the U.S. Securities and Exchange Commission that it is withdrawing its plan to go public, blaming “unfavorable market conditions” and its “executive leadership transition” for the decision.  

Hoffman Estates, Ill. -- Sears Hometown and Outlet Stores said Thursday it has elected James F. Gooch to its board of directors and as chair of the audit committee.

Gooch had served as president and CEO, as well as CFO, of RadioShack Corp.
 

New York -- An SEC filing on Friday revealed that the total compensation for CVS Caremark Corp. CEO Larry Merlo jumped 44% last year to $20.3 million.

Merlo’s base salary rose slightly but the major increases came from stock and option awards and nonequity incentive-plan compensation.

Seattle -- Amazon.com announced that it has agreed to acquire social site Goodreads, an online book recommendation community that has more than 16 millions around the globe. The financial terms of the deal, which enhances Amazon's already significant clout in the book publishing world, were not disclosed.

Tampa, Fla. -- Burger chain Burger 21 – founded by the owners of The Melting Pot® Restaurants – announced the signing of two new multi-unit franchise agreements in Florida. Seven new restaurants will be developed over the next several years in the Fort Myers - Naples corridor, Fort Lauderdale, Coral Springs, Davie and Pembroke Pines.

To date, Burger 21 has six restaurants open in Florida and 18 franchised locations in development along the East Coast.