Retail

San Francisco -- Shoppers will continue to be cautious in their spending in 2014, and they expect to make more money, save more money and afford the things they need. According to a forecast from digital coupon and discount site AnyCodes.com, this is because of a combination of three factors: consumer confidence in the future is climbing, they are focused on investing in themselves and paying off debt, and they are much confident about their job prospects.

New York -- The National Retail Federation on late Tuesday sent a letter to Senate Majority Leader Harry Reid and House Speaker John Boehner that called for replacing the magnetic-strip credit and debit cards that are widely used throughout the United States with chip-based cards that store data in an embedded computer micro-chip and require the use of a PIN rather than a signature. The chip-based cards are widely used in Europe, Asia and Africa.

St. Paul, Minn. – Bruegger’s Bagels opens a new store concept in Woodbury, Minn., today, and is launching a promotional contest to find artwork to place on a large brick feature wall in the store. Through March 31, amateur and professional artists can submit an abstract, two-dimensional design for the wall.

The winning design will be the focal point of the bakery and will be used in select new bakeries nationwide. The chosen artist will receive a $10,000 cash prize. Contest details are available on Bruegger’s Facebook page.

American Eagle Outfitters has named Jay L. Schottenstein, executive chairman of the board, as the company’s interim CEO. Schottenstein takes over for Robert Hanson, who is leaving the company.

New York -- Target Corp. is cutting 475 positions globally, and also will not fill 700 positions that are open worldwide.

“We believe these decisions, while difficult, are the right actions as we continue to focus on transforming our business,” Molly Snyder, a Target spokeswoman, said in an e-mailed statement, as reported by Reuters. “We will continue to invest in key business areas to strengthen our ability to compete and thrive well into the future.”

No specific details were given on the job cuts. 

Plano, Texas – J.C. Penney Co. released its 2013 Sustainability Report, outlining sustainability initiatives pursued during fiscal year 2012 ended Feb. 2013. Highlights of the report included:

• Stores and Operations: Through the company’s energy conservation efforts, J.C. Penney has received Energy Star certification in more than 500 locations and earned the Energy Star Sustained Excellence Award for five consecutive years.

In a letter to congressional leaders, the National Retail Federation underscored the retail industry’s commitment to protecting sensitive consumer data in the wake of the recent international cyber attacks and thefts.

New York -- Coach Inc.'s net income dropped to $297.4 million in the second quarter, from $352.8 million a year earlier sales in North America fell sharply during the key holiday season.

Overall revenue for the three months ended Dec. 28 fell 5.6% to $1.42 billion, with a 13.6% decrease in comparable-store sales in North America.