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Online spending jumps 13% in 2011, hits $161.5 billion
Reston, Va. -- Online retail spending reached $49.7 billion for the fourth quarter, up 14% over a year ago, according to comScore. It was the ninth consecutive quarter of positive year-over-year growth and fifth consecutive quarter of double-digit growth rates. For the entire 2011 year, U.S. retail e-commerce spending reached a record $161.5 billion, marking a 13% increase from 2010.
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Payless ShoeSource in deals to open stores in Korea, Thailand and Vietnam
Topeka, Kansas — Payless ShoeSource, a division of Collective Brands, announced that it has signed two new franchise agreements with partners Emart, a business unit of Shinsegae Group, Seoul, for stores in Korea, and Central Marketing Group, a business unit of Central Group, Bangkok, for stores in Thailand and Vietnam, bringing the total countries, which will have franchised Payless stores to 20 countries.
Payless and its partners said that in 2012 they expect six store openings in Korea, as well as five stores each to open in Thailand and Vietnam.