Retail

New York -- The average household expenditure on all types of back-to-school items is expected to be about $285 this year, with 39% of consumers planning to spend more than last year and 45% planning to spend about the same. According to a new study from the International Council of Shopping Centers and Goldman-Sachs, 29% of households surveyed have started to shop for back-to-school items, which is lower than the 33% that had started at this time last year but more than in any other year since 2004.

There are a wide range of experiments in the marketplace right now, and plenty of angst related to same-day delivery of products and consumer’s desire for more immediate e-commerce gratification. Walmart, Amazon and others appear intent on unlocking what is seen by some as the next big thing in retail, but an interesting piece by Fox Business bring a new perspective to whether shoppers care. Click here to read more. 

Cleveland – The Sherwin-Williams Company reported increases in net sales, diluted income per share and same-store sales during second quarter fiscal 2013. Consolidated net sales increased 5.5% to a record $2.71 billion in the quarter, up from roughly $2.6 billion the previous year. The company credited acquisitions, with some offsetting negative impact from unfavorable currency translation rates, for the net sales boost.

The future of multichannel commerce at Walmart will be detailed next week in the mountains of Colorado where the retailer’s two top digital executives are scheduled to participate in a conference hosted by Fortune.

The exclusive — and sold out — three day event held at the Aspen Institute and will feature Neil Ashe, president and CEO of Walmart Global eCommerce and Karenann Terrell, EVP and chief information officer, discussing the topic of, “How does technology fuel the success of both on-and offline at the world’s largest retailer.”

Chattanooga, Tenn. -- The Outlet Shoppes at Atlanta celebrated its grand opening with a ribbon-cutting ceremony this morning.

A joint venture and co-development of CBL & Associates Properties and Horizon Group Properties, the 370,000-sq.-ft. center features a host of national brands and designer outlets.

Located north of Atlanta at a newly constructed exit off Interstate 575, more than 112,000 vehicles pass the site daily. The center is also convenient to travelers on Interstates 75, 85, and 20.

Given the choice of shopping at only one retailer for the rest of their lives, millennial parents chose Walmart over several other popular retailers.
The study of the millenials, those age 25 to 34, was conducted by Vision Critical, and not surprisingly showed the demographic group changed purchasing habits and behaviors after starting a family.

Bensalem, Pa. -- Philly It Cheesesteaks and MGM Financial Strategies Inc. have signed leases at the 43,550-sq.-ft. Centre Plaza in Bensalem, Pa., according to Levin Management Corp.

Philly It Cheesesteaks opened a 1,700-sq.-ft. in the spring, while MGM Financial Strategies Inc. will follow with a 1,700-sq.-ft. opening this summer or fall.

Safeway digested an unprecedented amount of change during the second quarter and still managed to achieve solid profit improvement and a respectable amount of sales growth while strengthening its balance sheet.