News

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.

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.

HOFFMAN ESTATES, Ill. — Sears Holdings hired Ron Boire as EVP and chief merchandising officer. Boire, who previously was president and CEO of Brookstone, will lead merchandising and retail stores for both the Sears and Kmart brands.  

He will work with our leadership team to better serve our customers and Shop Your Way Rewards Members by integrating their experiences across our stores, online, services, and mobile capabilities, the company said.

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

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.

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.

Mooresville, N.C. -- Lowe’s Cos. said Thursday it has acquired ATG Stores, an online retailer of home improvement and lifestyle products based in Kirkland, Wash.

According to Lowe’s, the transaction will add depth and expertise to its online business.

Chicago -- Thanks to a last-minute shopping rush, Christmas 2011 will likely outpace its prior-year counterpart. According to a report released Wednesday by ShopperTrak, consumers spent approximately $44 billion in GAFO retail sales for the week ending Dec. 24, a 37.8% increase over the previous week and a 14.8% gain over the same week last year.

Foot traffic was also high, increasing 32.4% from the previous week.