News

MATTHEWS, N.C. — Family Dollar Stores announced that it has named Trey Johnson to the newly created position of SVP food. Johnson will report to Dorlisa Flur, EVP and chief merchandising officer.

NEW YORK — One-in-six Americans (15%) uses an e-reader device, a new study from Harris Interactive found. This is up from less than 1-in-10 (8%) last year. 

Legendary crooner Tony Bennett must live by the proverb if you love what you do you’ll never work a day in your life. He just observed his 85th birthday, has an exclusive deluxe edition of his album “Duets II” hitting Target stores today and is scheduled to perform throughout the United States during the remainder of the year. The new album is the second time Bennett has offered an exclusive mix of songs at Target with the first being the 2006 release of “Duets An American Classic.”

NAPERVILLE, Ill. — OfficeMax announced the fifth anniversary of its A Day Made Better program to support teachers. Through the program, OfficeMax will surprise 1,000 teachers on Oct. 4 with $1,000 each worth of school supplies. 

HONG KONG — On the heels of a 98% drop in its yearly earnings, Esprit Holdings said it is divesting its North American businesses and exiting three major European markets.

The company said it is actively looking for a partner willing to acquire its North American operations, which include 93 stores in the United States.

New York City -- The International Council of Shopping Centers said it expects holiday sales to increase 3% this year, which is below the 4.1% gain in 2010.

Holiday sales are expected to reach $250.2 billion, the highest since the 2007 peak, when spending totaled $251.7 billion, according to the group, whose forecast is among the first to come out for the holiday 2011 shopping season.

The ICSC predicted that holiday same-store sales will rise 3.5%, slightly lower than the 3.8% pace in 2010.

WASHINGTON — A report released Thursday by Bloomberg said that U.S. consumer confidence held last week at the second-lowest level of 2011 as the highest number of households in three years said it was a bad time to spend. 

The Bloomberg Consumer Comfort Index was minus 49.3 in the period to Sept. 11, near the 2011 low of minus 49.4 reached in May. The buying climate gauge slumped to the lowest level since October 2008.

According to the report, the majority -- nine out of 10 -- of Americans polled had a negative view on the economy.

HOLLYWOOD — Frederick’s of Hollywood Group announced that former Gap executive Don Jones has joined the company as president and COO.   

Jones, who most recently served as CEO of Pogan Retail, a consulting firm he founded in 2003. Prior to founding Pogan, Jones served  as SVP stores and operations for Gap Inc., where he was responsible for Gap,  Gap Kids and Gap Body retail stores.  

During his career, Jones also held leadership positions at Target, Ikea, Filene's and Macy's.