News

There were no new surprises during November regarding prices at Target and Walmart.

Charleston, S.C. -- January post-holiday sales will plunge to some of the lowest levels in years thanks to a surge in credit card spending over the Christmas season, according to consumer research firm America’s Research Group (ARG).

"Now that those credit card bills are hitting mailboxes, shoppers will cut back in a very significant way relative to January and February of the last few years," said Britt Beemer, chairman, ARG.

Veteran merchandising and supply chain executive Rick Maguire has announced plans to retire from his current position as SVP supply chain at Target Canada effective June 15, according to an internal company announcement.

The move caps a 27-year career at Target that began in 1985 when Maguire joined the company as an inventory manager. It was only a year ago that Maguire was named to his current position and prior to that he spent 16 year as an SVP merchandise planning.

Merrimack, N.H. -- Brookstone announced that Jackson Tai, chairman of the board, will also serve as interim president  in the wake of the resignation of Ron Boire, the chain’s president and CEO. The company will undertake a search for a permanent successor for Boire, who resigned from Brookstone, effective Jan. 3, to join Sears Holdings Corp. as its new executive VP, chief merchandising officer and president, Sears and Kmart Formats.

ATLANTA — K&G Fashion Superstore announced that has partnered with actor Blair Underwood to launch an exclusive line of men's tailored suits. The BU Collection will be available at select K&G stores and on KGstores.com.

"I wanted this collection to be available to every man without a steep price barrier," said Underwood. "I felt K&G was a great partner to launch this line because of their ability to bring well-made designer clothing to the public at affordable prices."

HOFFMAN ESTATES, Ill. — Sears Holdings last week announced that it will close between 100 and 120 underperforming Sears and Kmart stores, following dismal holiday sales results for the brands.

The company said it has not yet identified which stores will be shuttered, but said that the closures are part of an overall plan to shift its focus from shoring up underperformers to concentrating its efforts on stronger stores.

Colorado Springs, Col. -- PriceAdvantage, a division of Skyline Products, announced that Parker's Convenience Stores has successfully completed its rollout of PriceAdvantage Enterprise. The software offering from Skyline allows companies like Parker's to automate and streamline the process of changing fuel prices at their stores.

The analysts at Morningstar combed through 330 consumer sector companies and came up with a list of 10 names that comprise the firm’s new “Consumers’ Choice List.