News

Deloitte is forecasting holiday sales will increase between 3.5% and 4% as the economy's health and the presidential election take center stage among consumers this fall.

Despite some distractions this year, retailers should expect a modest increase in 2012 holiday sales, according to Deloitte’s annual holiday forecast release Tuesday morning.

CLEVELAND — A greeting cards company announced that its board of directors has received a nonbinding proposal to go private.

American Greetings confirmed that the board received a letter from CEO Zev Weiss, president and COO Jeffrey Weiss, along with certain other members of the Weiss family and related parties, to acquire all of the outstanding class A and class B common shares of American Greetings not currently owned by the them for $17.18 per share.

WASHINGTON — The National Retail Federation estimates that U.S. retailers and their customers are benefiting from savings of up to $18 million every day since the implementation of the debit card swipe fee reform.

PALO ALTO, Calif. — In an effort to extend its leadership as the premier indoor map and search platform, mobile retail navigation service Aisle411 has expanded its executive management team.

NORTHFIELD, Ill. — Kraft Foods is on track to complete a three-year initiative to reduce sodium by an average of 10% across its North American portfolio by the end of 2012.

Kraft Foods' sodium reduction efforts reach across the company's North American product portfolio, including Kraft grated parmesan cheese, Breakstone's 2% cottage cheese and Oscar Mayer bacon. Many other Kraft Foods products, the results far exceeded this goal, including:

• Kraft original BBQ sauce, 40%;

An intriguing shopper marketing initiative involving Unilever and Tesco’s Fresh & Easy Neighborhood Market division was launched today in select markets.

The two companies launched an intriguing program designed to help shoppers save money, drive sales of Unilever brands at Fresh & Easy stores and help the Arbor Day Foundation plant trees.

Riverside, Calif. -- Vestar, in a joint venture with a fund advised by UBS Global Asset Management, announced that it has acquired Riverside Plaza, a 475,211-sq.-ft. retail center located on 35 acres in Riverside, Calif., for $84,844,000 in an all cash transaction. The acquisition marks one of the largest investment sales transactions in Southern California's Inland Empire region in the past 10 years. Vestar currently manages more than 22 million sq. ft. of retail properties in the West.

Foothill Ranch, Calif. -- The Wet Seal said that two independent proxy advisors, Institutional Shareholder Services and Egan-Jones Proxy Services, recommended that the chain’s shareholders reject efforts by Clinton Group to replace six members of the company’s board of directors.  

By Sean Jackson, [email protected]

In recent weeks, there have been some well-publicised examples of retail giants whose financial performance has been severely impacted by breakdowns in the supply chain. As salt in the wound to these behemoths of retail, there are just as many examples of organizations that have exceeded market expectations due to an ability to behave nimbly and respond quickly to changes in consumer demand.

Kohl’s Department Stores opened 12 new stores nationwide in September, all featuring the chain’s updated store design. Eleven of the stores are smaller format locations, with some 64,000 sq. ft. or less of retail space.

The stores are designed to offer customers a comfortable and inviting shopping environment, with Wi-Fi throughout, updated checkouts and upgraded fitting rooms. Other features include innovative fixtures in cosmetics, expanded, upfront customer service area, in-store Kohl’s Kiosks and electronic signs in all departments.