eCommerce

Purchase, N.Y. -- Excluding auto sales, total retail sales in April 2011 grew by 8.8% year-over-year, stronger than March’s growth rate, and substantially higher than the average 7.1% year-to-year growth rate of the previous quarter, according to MasterCard Advisors’ SpendingPulse, a macroeconomic report tracking national retail and service sales.

New York City -- Retailers will pursue major investment in customer relationship management systems, business intelligence systems, and enterprise resource systems for transaction processing, according to a survey of 152 senior financial executives of global retail companies by KPMG International.

Cincinnati -- Macy’s first-quarter earnings soared and easily beat Wall Street predictions on rising sales, tight expense controls and its efforts to tailor merchandise by region. The department store operator is doubling its quarterly dividend and raising its full-year earnings and sales outlook.

Macy’s posted net income of $131 million for the quarter that ended on April 30, nearly six times higher than the $23 million it reported a year earlier.

By Kevin Moffitt, crossview.com

SECAUCUS, N.J. — The Children's Place Retail Stores search for someone to oversee its finance and operations appears to have come to an end as the company has announced the appointment of Eric Bauer as COO. He will report to Jane Elfers, president and CEO, and will be responsible for supply chain, planning and allocation, store operations, finance, information technology and real estate.

New York City -- TIAA-CREF, a national financial services organization and a provider of retirement services for educators, and CBL & Associates Properties have formed a $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

TIAA-CREF will invest in four of CBL’s shopping malls: Oakland Park Mall, Kansas City, Ks.; West County Center, St. Louis; CoolSprings Galleria, Nashville; and Pearland Town Center, Pearland, Texas.

New York City -- Rising fuel costs, higher commodity prices and increasing international market demand for food are pushing food inflation higher and higher, according to the Food Marketing Institute’s U.S. Grocery Shopper Trends report released Tuesday.

Seattle -- Nordstrom announced plans to relocate its Nordstrom Rack at The Mall at The Source to the Gallery at Westbury Plaza. The new store will be located approximately a quarter of a mile from the existing location and is expected to open in fall 2012.

SAN FRANCISCO — A new bill introduced by a California assemblywoman aims to curb the sale of alcohol to minors by prohibiting sales at self-service checkouts.

Assembly Bill 183, introduced last month by Fiona Ma, D-San Francisco and San Mateo Counties, was passed by the assembly committee. Assemblywoman Ma said that self-service checkouts are susceptible to technological failures, allowing minors to purchase alcohol.

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