News

New York -- Retail sales fell 0.5% in June, the Commerce Department said on Monday, as consumer spending declined for the third consecutive month. The drop, which followed a 0.2% decrease in May, was unexpected as many economists were expecting growth.

Falling gas prices were attributed to some of the weakness. But even excluding sales at gas stations, retail spending fell 0.3% in June. Economists said weak job growth was making consumers cautious and eating away at consumer confidence.

FORT WORTH, Texas — RadioShack has named Telvin Jeffries as EVP and chief human resources officer and general manager of retail services, effective Aug. 1. Jeffries will report to Jim Gooch, president and CEO of RadioShack Corp.

New York -- New York City metro area retailer Daffy’s is going out of business. The discount apparel chain will close all of its 19 stores (eight of which are in Manhattan) this fall, according to various reports.

The closings are not totally unexpected. In June, Crain’s New York Business reported that Daffy’s was having trouble paying its vendors.

School supplies manufacturer It’s Academic announced a new partnership the manufacturer of a vanishing grid line technology.

Riverwoods, Ill. -- Discover on Monday announced that its cards are now accepted at Neiman Marcus stores nationwide.

“By adding Discover as another payment option, Neiman Marcus continues to give customers more flexibility and convenience at the point of sale," said Jim Gold, president, specialty retail, The Neiman Marcus Group. “We are happy to open our Neiman Marcus stores to loyal Discover card members so they can shop their favorite brands and earn more rewards.”

 

Visa and MasterCard on Friday announced a proposed $6.6 billion settlement to a long-running dispute over the fees they charge merchants, but one major trade group was clearly annoyed at the prospect.

MINNEAPOLIS — Target is once again bringing Black Friday to the summer, this year expanding the sale to two full days, July 20 to 21. Target will also hold its first-ever Summer Cyber Week sale from July 22 to 28, featuring daily deals on Target.com for must-have products such as electronics, apparel, baby gear and more.

Armonk, N.Y. -- Mobile shopping rose in the second quarter while social media sales fell, providing an indication of where U.S. retailers may invest in order to capture the attention and loyalty of the digital consumer, according to a new report from IBM.

The IBM Retail Online Index, a cloud-based analysis of the online retail sector, reported that retailers experienced 15% growth in sales from mobile devices but saw a 20% decline in sales traced to social media based on a much smaller base over this three-month period.