News

Washington, D.C. -- A report released Tuesday by the National Retail Federation and Hackett Associates said that import cargo volume at the nation’s major retail container ports is expected to be up 9% in December over the same month last year, and 2010 should end with a 17% increase over last year.

According to The NPD Group, 49% of respondents surveyed on holiday entertaining plans said they plan to entertain family or friends in their home during the upcoming holiday season. Furthermore, casual dinnerware sales growth in the double digits in the past 12 months ending September 2010 show that the trend is toward less formal dining. Sales in the formal fine dinnerware segment remain down year-over-year.

Thirty-two percent of respondents told NPD that they entertained at their home less over the past year than in previous years, however, 11% said they entertained more.

Cary, N.C. -- C-store chain The Pantry reported Tuesday that net income for the quarter ended Sept. 30 dropped to $8.5 million, compared with $12.5 million in the year-ago period.

Merchandise revenue for the fourth quarter increased 12% overall and 5.7% on a same-store basis from last year’s fourth quarter.

MINNEAPOLIS - Best Buy reported net earnings of $217 million, or 54 cents per diluted share, for its fiscal third quarter, compared with $227 million, or 53 cents per diluted share, for the prior-year period.

Washington, D.C. -- Tuesday’s report by the U.S. Department of Commerce showed a fifth straight month of sales gains in November for U.S. retailers. Monthly retail sales figures for November were up 0.8% over October and 7.7% over November 2009.

Retail sales excluding auto sales were up 1.2% over the previous month and 6.7% over November 2009.

Department stores were the big November winners, recording the biggest sales rise in two years of 2.8%.

Taking the long view of what is expected to be moderate consumer demand in the United States, it is apparent the primary sources of growth for retailers are to gain share from competitors and capture a larger share of wallet from existing customers. It’s why there is so much effort expended on the loyalty front, as retailers know success is dependent on keeping existing customers happy and rewarding them ever more generously for their loyalty.

Making your NRF Show plans? Don’t forget to allow yourself time to check out the Big Apple’s exciting retail scene. Here’ s a quick hit list of the city’s newest retail stars:

Hartford, Conn. -- Best Buy Co. has settled a Connecticut lawsuit that accused the retailer of advertising lower prices on some items on its website than at in-store kiosks, then overcharging customers at the stores.

Best Buy did not admit wrongdoing as part of the 2007 lawsuit's settlement, filed Monday in Hartford Superior Court. The retailer agreed to pay $399,000 to Connecticut's government general fund and reimburse affected customers for the difference between the online prices and the higher in-store kiosk prices they were charged.