News

New York – Factors including the permanency of the 2013 payroll tax increase, uneven job creation and uncertainty caused by the autumn partial government shutdown are expected to continue constraining consumer spending in 2014. According to a new economic insight report from Sterne Agee, lower gas prices, a lingering wealth effect from home price appreciation and record highs in equities helped boost holiday spending, but will not be enough to counteract a trend toward weak consumption that has been in place since the beginning of this year.

Hampstead, Md. – The board of directors of Jos. A. Bank Clothiers, Inc. has unanimously rejected a non-binding acquisition proposal it received on Nov. 26, 2013, from The Men's Wearhouse, Inc. Assisted by outside financial advisors, the board determined the price of roughly $1.54 billion significantly undervalued the company and its near and long-term potential and was not in the best interest of the company's shareholders.

Site search specialist SLI Systems has elected New Zealand marketer and social media executive Andy Lark as a non-executive independent director.

"We are very pleased to add Andy's wealth of global brand, e-commerce and marketing experience to the SLI Board," said SLI Systems Chairman Greg Cross. "With his direct experience of building and funding businesses, he is conversant with the challenges unique to a fast-growing technology company like SLI Systems."

Chicago -- Rough weather last week prevented many last-minute shoppers from getting to the stores to finish up their holiday purchasing. ShopperTrak reported that for the week of Dec. 16 to Dec. 22, GAFO in-store retail sales decreased by 3.1% from the same week last year. Retail brick-and-mortar shopper traffic decreased by 21.2% compared to the same time period in 2012.

With 3,500 locations currently installed at retail and another 1,000 on the way in 2014, SoloHealth Stations are giving new meaning to affordable health care.

The creative minds from the world of auto racing have outdone themselves this time, offering an unconventional prize package courtesy of Great Clips and NASCAR’s most popular driver.

A 1,500-store market potential and an untapped online opportunity await Michaels Stores in 2014 as the retailer’s private equity owners look to sell a portion of their stake and return the nation’s largest arts and crafts retailer to public ownership.