News

Purchase, N.Y. -- Excluding auto sales, total retail sales in April 2011 grew by 8.8% year-over-year, stronger than March’s growth rate, and substantially higher than the average 7.1% year-to-year growth rate of the previous quarter, according to MasterCard Advisors’ SpendingPulse, a macroeconomic report tracking national retail and service sales.

NEW YORK — Credit Suisse on Wednesday initiated coverage of General Nutrition Centers, the specialty retailer of supplement and nutritional products and partner with Rite Aid in a store-within-a-store program across more than 1,000 drug store locations.

New York City -- Target Corp. is setting up three distribution centers in Canada in preparation for its debut north of the border, according to a report in The Globe and Mail.

Although the retailer could have supplied the stores from its U.S. warehouses, it chose to set up a network specifically for its Canadian operations, the report said, with DCs planned for Toronto, Calgary and Vancouver.

By Kevin Moffitt, crossview.com

SAN FRANCISCO and DULUTH, Minn. — DemandTec, an optimization network for retailers and consumer products companies, announced that it has partnered with the Labovitz School of Business & Economics at the University of Minnesota Duluth to support the university's new program training students with skills for careers in the retail and consumer products industries.

AUSTIN, Texas — Whole Foods Market announced that all fresh beef, pork and chicken sold in its U.S. stores is now certified under the 5-Step Animal Welfare Rating system.

St. Louis -- Build-A-Bear Workshop lost $2.3 million in the first quarter, compared with a profit of $1.7 million in the prior-year period.

The retailer reported revenue of $96 million for the 13 weeks ended April 2, down 5% from $101.4 million a year earlier. Same-store sales were down 9%.

The company said the quarter’s results were adversely impacted by the shift of the Easter holiday and associated school vacations, which moved into the second quarter this year.

New York City -- TIAA-CREF, a national financial services organization and a provider of retirement services for educators, and CBL & Associates Properties have formed a $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

TIAA-CREF will invest in four of CBL’s shopping malls: Oakland Park Mall, Kansas City, Ks.; West County Center, St. Louis; CoolSprings Galleria, Nashville; and Pearland Town Center, Pearland, Texas.