News

Skechers USA’s recently remodeled East Coast flagship store on 42nd St. in Manhattan’s Times Square has incorporated five outdoor LED displays and three static displays to make its own statement on one of the world’s most visually noisy stages.

Austin, Texas – Digital coupon provider RetailMeNot launches its IPO on Friday of 9,090,908 shares of its Series 1 common stock at a price to the public of $21 per share. Shares will be available on the Nasdaq Global Select Market under the ticker symbol "SALE." Of the shares in the offering, 4,545,454 shares are being offered by RetailMeNot and 4,545,454 shares are being offered by selling stockholders.

New York – U.S. consumers spent more last month as real home prices and initial unemployment claims continued to improve. The Deloitte Consumer Spending Index for June 2013, which comprises four components of tax burden, initial unemployment claims, real wages and real home prices, increased to 4.3 from a reading of 4.2 the previous month.   
Following is a summary of the four main components of the Index:

Tax Burden: The tax rate is up from last year, and is now at 12%.

Washington, D.C. – Compared to a record-breaking back-to-school shopping season in 2012, this year’s back-to-school season will not be as impressive. New figures from the NRF and Prosper Insights show that families with school-age children will spend an average $634.78 on apparel, shoes, supplies and electronics, down about 8% from $688.62 last year. Total spending on back-to-school is expected to reach $26.7 billion.

ATLANTA — Coca-Cola's board of directors has appointed Brent Hastie as the company's VP. Hastie was recently named VP of strategy and planning, which became effective just a few days ago.

BENTON HARBOR, Mich. — Further signs of the nation's recovering housing market were evident in Whirlpool Corporation's reported net earnings of $198 million for the second quarter ended June 30, compared to net earnings of $113 million for the same period last year.

The company's net sales for the quarter were $4.7 billion, compared to $4.5 billion reported during the same period last year. Excluding the impact of foreign currency as well as Brazilian tax credits, sales increased approximately 6%.

ELK GROVE VILLAGE, Ill. — Topco Associates has appointed Danell O’Neill as the company's director of corporate communications. She will report directly to president and CEO Randy Skoda.

TORONTO — It is easy to see why Loblaw wanted to acquire Canada’s Shoppers Drug Mart following the release of second quarter results that highlight attractive growth prospects.

Canada’s Shoppers Drug Mart saw a boost in second-quarter sales and earnings, and according to president and CEO Domenic Pilla, the company is “well-positioned heading into the back half of the year.”

STOCKHOLM — With the U.S. housing market continuing to improve, it's no surprise that Electrolux CEO Keith McLoughlin expects the company's North American division to maintain the strong sales and earnings growth achieved in the second quarter throughout the rest of the year.

Because of the rising appliance consumption in North America, the company anticipates that demand for appliances in the U.S. will increase by 5-7% in 2013.

GRAPEVINE, Texas — As retailers large and small vie for foot traffic during the highly competitive back-to-school season, GameStop is focusing its efforts on the segment of its market that is on summer vacation.

The multichannel video game retailer has launched a five-week Summer Playcation promotion the offers gamers deals now through Aug. 18 in all U.S. GameStop locations.