News

Chicago -- A report released Tuesday by research firm Technomic found that sales among the 500 largest U.S. restaurant chains increased 3.4% to $242 billion in 2011.

That compares to just a 1.8% increase in 2010.

Of the 500 restaurants analyzed by Technomic, more than 60% posted at least nominal sales increases; just 193 saw sales declines in 2011, compared with 231 in 2010.

WASHINGTON — While intentions aren't always equal to results, if NRF's predictions are correct, consumers will be shelling out quite a bit of cash this Easter. According to NRF’s Easter spending survey, conducted by BIGinsight, Americans will spend an average of $145.28 on everything from apparel and candy to food and decorations this year, up 11% from $131.04 last year. Total spending is expected to reach $16.8 billion.

WEST CHESTER, Pa. — QVC is building a presence in China through a new joint venture with Beijing-based China National Radio (CNR), China's government-owned radio division. Through this partnership, CNR and QVC will jointly operate a multimedia retailing business in China through the CNR Mall TV shopping channel and its e-commerce website (www.CNRMall.com), leveraging the strengths and resources of each company.

Omaha, Neb. -- Apparel and home décor retailer Gordman Stores reported Tuesday that net income for the quarter ended Jan. 28 rose 21.2% to $10.2 million, from $8.4 million in the year-ago period.

Sales increased 10% to $185.1 million. Same-store sales rose 2.1%.

By Tim Callan, timcallan.blogspot.com

With store closures and falling revenue threatening major retail chains, maximizing store productivity is more important than ever before. While it’s been proven for many years that website analytics can drive dramatic improvement in online retail environments, so far most brick-and-mortar retailers are engaged in only rudimentary measurement.

Zara, part of Spain’s Inditex Group, has opened its biggest U.S. location, a 32,000-sq.-ft., three-level flagship on a primo stretch of Manhattan real estate: Fifth Avenue at 52nd Street. The store is part of a 90,000-sq.-ft. retail condominium that also houses Hollister and Uniqlo flagships.

LONDON — Walmart's U.K. subsidiary Asda is making it easier for brides to feel special on their wedding day by launching a new bridal lingerie line at its George stores. 

The retailer has a launched a four-piece "bridal inspired" collection that ranges from 11.50 to 16 GPB. According to Asda this is 1,639% cheaper than the most expensive alternative. 

DALLAS — Alliance Data Systems Corp. announced that its Canadian coalition loyalty business has signed a new multi-year agreement with Toys“R”Us, Canada to issue air miles reward miles in its 73 stores across Canada effective March 23.

The Air Miles Reward Program is Canada’s premier coalition loyalty program, with approximately two-thirds of Canadian households actively collecting reward miles.