News

NEW YORK - Fitch expects U.S. sales growth to modestly improve in the coming holiday season, with retail sales (excluding auto) expected to grow at 3%-4% in November/December versus 2.8% year to date. Fitch expects online sales will grow in the 12%-14% range during the fourth quarter, in line with year to date levels.

New York - Forty-one percent of consumers plan to head to the stores on Black Friday,18% plan to shop in a physical store on Thanksgiving, and 32% of consumers will hit the stores on the following Saturday and/or Sunday, according to new data from the International Council of Shopping Centers. More than one-third (36%) of consumers plan to go to a physical store on Cyber Monday.

Apex, N.C. - TechPay Mobile Payment Systems has launched the SwiftPay mobile payment system. SwiftPay requires no new hardware for the merchant to install, it integrates directly into the retailer’s existing system.

Joe Arcuri, vice president and general manager of Procter & Gamble's North American beauty business, has been hired as president of home solutions for Newell Rubbermaid. He'll start the new job on Dec. 1.  

"Joe brings an incredible set of global leadership experiences, a consistent pattern of excellent results and immense personal potential to the company as we continue the drive to make Newell Rubbermaid a larger, faster growing, more profitable, more global company," said Michael Polk, CEO of Newell Rubbermaid.  

Bentonville, Ark. – Wal-Mart Stores Inc. has appointed Tom Horton, former chairman and CEO of American Airlines, as a new member of the company’s board, effective Nov. 21. Horton became the 16th member of the Board and will also serve as a member of the company’s Audit Committee.

American Girl is pledging to give away 1,000 dolls a day, or $3 million in retail value, to children in hospitals across the country this holiday season.  

Now through Dec. 18, American Girl will match any doll purchase made online, in-store or via phone with an 18-inch doll donation (up to 1,000 dolls each day) as part of its 2014 “Share the Wonder of the Holidays” giving campaign.

New York - It appears that Hudson’s Bay Co. got itself quite a deal when it purchased Saks Fifth Avenue in 2013 for the sum of $2.9 billion, including debt. Saks’s signature  Fifth Avenue flagship has recently been appraised at an whopping $3.65 billion—significantly more than Hudson’s Bay paid for the entire chain.  As much as anything, however, the appraisal reflects the strength of Manhattan’s retail real estate market.

Ann Inc. has named Coca-Cola executive Katie J. Bayne to its board of directors as the company looks to increase traffic and sales.

"Katie is an outstanding addition to Ann Inc.'s board of directors. She brings an exceptional background in strategic marketing and brand management that will add value to the company," said Ron Hovsepian, non-executive chairman of the board. "We're delighted to welcome her to the board and look forward to her insights and contributions."