Business Analytics

Washington, D.C. -- A report released Friday by the Commerce Dept. showed that consumer spending in the U.S. slowed in August, impacted by falling incomes and sporadic hiring.

Commerce Dept. figures showed that purchases edged up 0.2% after a 0.7% increase in July. However, a 0.2% increase in prices wiped out the slight spending gain. Incomes dipped 0.1%, the first decline since October 2009.

CAMP HILL, Pa. — Rite Aid same-store sales increased by 1.3% in September, compared with September 2010, the company said Thursday.

During the four-week period that ended Saturday, front-end same-store sales were down 0.5%, though pharmacy same-store sales increased 2.1%, including a 143-basis point negative effect from new generic introductions.

The softer sales for the month were expected by the company's management and analysts alike, with analyst John Heinbockel of Guggenheim Partners attributing them to Hurricane Irene and the slow start of the allergy season.

Atlanta -- According to a report released Thursday by First Data Corp., the prepaid gift-card market has remained healthy during the first half of 2011, despite a sluggish economy.

The 2011 Midyear Gift Card update showed that the gift card market experienced a higher rate of growth than U.S. consumer spending.

Camp Hill, Pa. -- Rite Aid reported a 1.3% increase in same-store sales in September.

Total drugstore sales for the 30 weeks ended September 24, 2011 increased 0.9% to $14.535 billion, from $14.407 billion in last year’s like period. Prescription sales accounted for 68.4% of total drugstore sales, and third-party prescription sales was 96.4% of pharmacy sales.
 

Covina, Calif. -- Ikea officially plugged-in the solar energy system installed at its store in Covina, Calif. The 57,000-sq.-ft. photovoltaic array consists of a 451-kW system, built with 2,002 panels.

Ikea contracted with Gloria Solar, the U.S. operating group focused on the photovoltaic business within the family of E-Ton Solar Group, for the development, design and installation of this customized solar power system

MINNEAPOLIS — While other retailers are beefing up their sales staff ahead of the holiday season, Best Buy Co. said Tuesday that it has cut its 2011 seasonal hiring plans to about half of last year’s staff numbers, in a move to curtail costs. This year’s plans call for 15,000 holiday workers, compared with 29,000 hired last year.

New York City -- Innovation in heating, ventilation and air-conditioning will be driven by cost savings from more efficient energy use and pressure to reduce greenhouse gas emissions, according to a recent from Pike Research.

FRAMINGHAM, Mass. — Staples has promoted Christine Komola to CFO effective Feb. 1, 2012. She will report to John Mahoney, Staples’ vice chairman. The responsibilities of the CFO will transition to Komola the next year.