Data & Analytics

Savannah, Ga. -- Citi Trends said Wednesday it has secured a new, five-year, $50 million credit facility through Bank of America to replace its prior $20 million credit facility.

The new facility includes a $25 million uncommitted “accordion” feature that under certain circumstances could allow the company to increase the size of the facility to $75 million.
 

New York City -- United Healthcare on Wednesday opened its first comprehensive health-benefits store, in Flushing, N.Y. The insurer said the 16,000-sq.-ft. store will serve as a model for future UnitedHealthcare consumer-support centers.

The new UnitedHealthcare Asian Plaza center will provide residents with information and customer service on a variety of UnitedHealthcare benefits programs, as well as health-and-wellness services and free public health education programs. It is especially geared to the area’s many Asian-American residents.

BENTONVILLE, Ark. — Walmart chief merchandising officer Duncan Mac Naughton expressed optimism about the retailer’s prospects for the holiday season and beyond late Tuesday during comments at a Bentonville Bella Vista Chamber of Commerce function, which attracted more than 500 people.

Chicago -- A Wednesday report by Challenger, Gray & Christmas said that job cuts announced by U.S. employers increased in October from the same month last year.

According to the report, planned firings rose 13% to 42,759, from 37,986 in October 2010, boosted by job cuts by government agencies and financial companies.

Bentonville, Ark. -- Walmart chief merchandising officer Duncan Mac Naughton expressed optimism about the retailer’s prospects for the holiday season and beyond during comments at a Bentonville Bella Vista Chamber of Commerce meeting with attracted more than 500 people. The function was held on Tuesday.

Has anyone else noticed that the Christmas holiday “season” starts earlier and earlier each year? This year, Walmart had their Christmas displays out by mid-September and many retailers were touting holiday sales in October! I still remember when Black Friday was the “official” kick-off to the holiday shopping season and it was surprising to see Christmas decorations up in mid-November. I keep wondering what the real-world implications of this calendar shift might mean – if anything – for retailers’ overall holiday and end-of-year sales?

Atlanta -- Jones Lang LaSalle announced Tuesday that it has launched a comprehensive digital media program across its 98 million-sq.-ft. nationwide retail portfolio.

The firm is rolling out The Scoop customer loyalty program, the My Style social media program and new center-specific mobile apps to deliver up-to-the-minute information on fashion trends, retailer promotions and events.

MINNEAPOLIS — The unexpected announcement that Target EVP and CFO Doug Scovanner will retire on March 31, 2012 has investors speculating about the reasons for his departure following the recent exit of other key executives.

Analysts at Bernstein Research pointed to the fact that no successor has been named, suggesting that the retirement was not a long planned for event. However, the firm said it believes that despite the unexpected news, this appears to be a true retirement and doesn't anticipate seeing Scovanner in a CFO role at another major company.