News

The new year will see a changing of the guard in the chief executive’s office of several big retailers. Here are four to watch:

Costco
The torch has been passed at Costco Wholesale Corp., with president and COO Craig Jelinek stepping into the very big shoes of the company’s longtime chief executive and co-founder Jim Sinegal (effective January 1, 2012).

Reston, Va. -- For the first 20 days of November, comScore reported that online spending rose 14% to $9.7 billion. The company forecast that online sales for the full November through December period would increase 15% to a total of $37.6 billion.

Glimcher Realty Trust, based in Columbus, Ohio, is launching its Sensitive Santa program again this year, a sensory-friendly event that caters to children with autism.

With approximately three to six children out of every 1,000 diagnosed with Autism Spectrum Disorder (ASD), it can be difficult for families of children with autism to enjoy some of the holiday celebrations and traditions most people take for granted, including simple things like sitting on Santa’s lap in a busy shopping mall.

New York City -- A coalition of retail organizations, including the National Retail Federation, the Food Marketing Institute and the National Association of Convenience Stores, have filed a lawsuit charging that the Federal Reserve failed to comply with a new law requiring it to reduce fees bank charge retailers when shoppers use credit cards.

The law, which went into effect Oct. 1, said that banks could charge a maximum of 21 cents when consumers use a debit card, down from an average of 44 cents per transaction.

By Todd Feinman, CEO of Identity Finder

NEW YORK — Most consumers have their wallets ready for Thanksgiving weekend and are armed with plans to spend an average of $224, according to Deloitte's pre-Thanksgiving shopping survey.

WILLIAMSVILLE, N.Y. — Regional supermarket chain Tops Markets reported a 3.6% increase in net sales for the period ended Oct. 8.

Third-quarter net sales rose $18.7 million to $538.6 million, the retailer said. Supermarket sales (excluding gasoline sales) totaled $491 million, up $7.5 million, or 1.5%, compared with the year-ago period.

WILLIAMSVILLE, N.Y. — Regional supermarket chain Tops Markets reported a 3.6% increase in net sales for the period ended Oct. 8.

Third-quarter net sales rose $18.7 million to $538.6 million, the retailer said. Supermarket sales (excluding gasoline sales) totaled $491 million, up $7.5 million, or 1.5%, compared with the year-ago period.

DEERFIELD, Ill. — Photo enthusiasts that shop at Walgreens now can enjoy same-day pickup for many of its photo gifts at more than 3,000 stores nationwide.

Walgreens customers can create their gifts by utilizing Walgreens touchscreen photo kiosks in stores (or from home at Walgreens.com/photo) and pick them up within the same day at their local store. The drug store chain said its new photo technology and printing systems produce high-resolution, color-rich prints that allow photo technicians to produce some photo gifts in as little as an hour.

AMSTERDAM — Dutch supermarket operator Royal Ahold reported sales of $9.3 billion and profits of $347.8 million in third quarter 2011, the company said.

Those figures represented a 2.5% increase in sales and a 15.2% increase in profits over third quarter 2010.