News

NEW CANAAN, Conn. — Not long after Deloitte released gloomy predictions for consumer spending in 2012, another firm is out with a more sunny forecast. Retail sales will increase by 5.7% in 2012, according to a new report by Customer Growth Partners, a consulting and research firm serving retailers, vendors and institutional investors.

The report, “The Great Consumer Reset/The Great Retail Reset,” finds that falling household and credit-debt levels, along with higher savings rates, are fueling consumer spending. 

Ron Johnson isn’t afraid of making waves. Just as my page-neighbor Jeff Green suggested in his latest column, “A Penney for your Thoughts,” the Apple-CEO-turned-JCP-chief is keenly focused on reinventing a department store dinosaur into a sleek, well-oiled retail machine. And if that means reneging on prior deals, so be it.

Philadelphia -- Urban Outfitters reported Thursday that sales for the fourth quarter, ended Jan. 31, rose 9% to $731 million.

BOWLING GREEN, Ky. — In time for the upcoming Olympic Games in London, Spalding has snagged Misty May-Treanor, a two-time Olympic gold medalist and the current no. 1-ranked American volleyball player in the world, for a long-term marketing, licensing and promotional agreement with the brand.

By Shannon Martin, [email protected]

There are a variety of new technologies that will become available throughout 2012 to small business owners looking for ways to process credit and debit cards. In the past, business have had to rely on costly terminals purchased from merchant account providers who charged not only for the equipment, but also for the processing of the cards used by a business’ customers.

NEW YORK — Walmart was among the only three retailers listed among The National Association for Female Executives list of the "Top 50 Companies for Executive Women." Office Depot and Macy's were the other two retailers.

SPRINGFIELD, Mo. — O'Reilly Automotive delivered strong profits for it fourth quarter ended Dec. 31, but its same-store sales were not as impressive. The company reported that net income for the quarter increased $17 million, or 16%, to $123 million from $106 million for the same period one year ago. Diluted earnings per common share for the fourth quarter increased 27% to 94  cents versus 74 cents for the same period one year ago. While the company did report a comps increase of 3.3% for the quarter, in the prior year, same-store sales jumped 9.2%.

Austin, Texas -- Whole Foods Market Inc. reported Wednesday that profit for the first quarter rose a better-than-expected 33% to $118.3 million amid increased customer visits and higher prices on select items. On a follow-up conference call with analysts, the chain revealed it has 69 new stores in development, or 2.4 million square feet, in development.