News

New York -- Jewelry sales are expected to grow more than 11% in the second quarter and 9% overall this year, according to a new IBM Big Data-based forecast.

According to the analysis, improved consumer confidence, lower unemployment and enhanced stock dividends from fourth quarter 2012 have combined to leave people ready to start spending on luxury items again, like jewelry.

WASHINGTON — The Grocery Manufacturers Association has named Karin F.R. Moore as VP and general counsel.

“I am pleased to welcome Karin to the GMA team,” said GMA president and CEO Pamela Bailey.  “Her legal skill and trade association management experience make her the logical choice for this position, and I am certain that she will provide great value to GMA and its member companies as we advance the association’s member-driven agenda.”

Total U.S. Shopper Traffic in Retail Stores and Malls for March 2013

Shopper activity increased last month with the Easter holiday and students on spring break. March retail foot traffic increased 25.8% compared with February 2013, continuing positive month-over-month retail traffic trends. Foot traffic for March 2013 increased 1.5% compared with the same month in 2012. 

CHICAGO — True Value reported “gross billings” of $451.9 million for the fourth quarter, up 2.3% from the same quarter last year.

“Gross billings” -- a term not used in the co-op’s 2012 earnings announcement -- is a measure of the total amount invoiced to customers, without subtracting discounts or adjustments.

The company’s revenue was $340.4 million, up 3.3% from the prior-year quarter.

A March 2013 study by Kantar Retail indicates that Walmart Canada and Target Canada are very competitively positioned from a basket price perspective.

NEW YORK — Abercrombie & Fitch in its annual report revealed that it plans to open Abercrombie & Fitch flagship stores in Seoul and Shanghai in 2013, as well as 20 international Hollister stores. The news sent the teen retailer’s shares rising on Wednesday.

The company also said in the report that it is maintaining its focus on boosting profitability by simplifying processes, eliminating less-profitable parts of its business, shoring up efficiencies and cutting expenses.

ROANOKE, Va. — Advance Auto has named George Sherman president of the company as part of its effort to simplify company leadership.

In his role as president, Sherman will be responsible for growing commercial and driving excellence throughout the company’s operations. Sherman will lead the company’s commercial sales, field operations, store operations support, merchandising, marketing, supply chain and e-commerce teams.

SAN FRANCISCO — The a good amount of Americans, particularly women, are using shopping to improve their moods, according to a new survey.

The study, by Ebates.com, found that 63.9% of women engage in "retail therapy," compared with 39.8% of men, and the belief that it improves moods was found among 39.2% of women, compared with 20.6% of men. The survey was conducted online by TNS Global and included 1,000 adults.