Retailers More Optimistic While Bracing for Tough Year
from MSNBC
 Michigan retailers expect a small decrease in sales this year, following a January in which sales declined for nearly two-thirds of the industry, according to the Michigan Retail Index, a joint project of Michigan Retailers Association and the Federal Reserve Bank of Chicago. More
Restaurants and Others Tempt Shoppers with 2-for-1 Coupons
from USA Today
Few come-ons are more enticing to folks on tight budgets than these three words: two-for-one. That may be why, in the economic downturn, two-for-one offers are showing up in so many industries at once — from restaurants to retailers to telecommunications companies. Even some car dealers and home sellers are testing twofers. More
Target Profit Falls 41 Percent, Plans Focus on Basics
from Reuters
Target Corp. said quarterly profit fell nearly 41 percent, worse than Wall Street expected, and that it would focus more on food and pharmacy products instead of trendy fashions to lure shoppers. The discount retailer said that earnings declined as it cut prices to clear holiday merchandise and lost money in its credit card segment because shoppers fell behind on payments. It said results in the first half of the year would be below year-earlier levels. More
NRF: U.S. Retail Crime Grows with Demand for Discounts
from Reuters
Consumer demand for hot new products at huge discounts is fueling organized retail crime, with goods stolen from retailers finding an audience in secondary markets like the web, a retail trade group said. High on the list are the latest video games or trendiest new handbags that can be easily resold, executives with the National Retail Federation said. More
Consumer Confidence Plummets to New Low in February
from Los Angeles Times
Americans' already battered confidence in the economy went into free fall in February, sinking to new lows as consumers grow more fearful over massive job cuts and shrinking retirement accounts. The dismal news came just hours after major retailers including Target Corp., Home Depot and Macy's Inc. reported depressed fourth-quarter results as shoppers focus on necessities like food. And another widely watched index showed home prices tumbled by the sharpest annual rate on record in the fourth quarter and in December. More
De Beers Suspends Botswana Diamond Mine Production
from Bloomberg
De Beers halted production at its diamond mine venture in Botswana since the start of the year because sales slumped, the Financial Times said. The mines, the source of half of De Beers’ supply of rough diamonds and almost a quarter of the world’s by value, sold no diamonds in November and "very little" in the following two months, the report said, citing Sheila Khama, chief executive officer of the company's Botswana business. More
Retail Earnings Reflect Slowing Spending
from The New York Times
For years, the nation’s retailers could throw up new stores and shoppers would pour through the doors. Now, in bleaker times, the chains are having to work for the public’s business, and some are doing it better than others. Some of the biggest names in American retailing reported steep profit declines. However, chains like Home Depot and Macy’s beat analysts’ expectations and sent their share prices higher — largely because they are making the radical changes necessary to stay alive and grab market share. More
Find the Best Layout for Your Store
from AllBusiness
It can be either great fun or a huge chore to lay out a retail store; either way, it's a task that takes some trial and error. The layout of a store can play a major role in enhancing sales. Most store owners take time and plan carefully the most effective layout for their retail outlet and their target customers - even if it doesn't always look that way. More
Recyclable Packaging Ranks Highest With Consumers
from Brandweek
Here’s the tricky thing about sustainable packaging: While it’s not a primary purchase motivator for most people, a blatant disregard for it may turn off consumers, who have increasing expectations for brands to incorporate green business practices. The study found that the ability to have some kind of afterlife is the packaging feature that matters to them most—being recyclable reigned supreme. More
Centro First-Half Loss Doubles After Asset Values Cut
from Bloomberg
Centro Properties Group, the world’s fifth-largest shopping center owner, said its loss in the first- half doubled because of one-time charges for reducing the value of property assets. Centro has more than 70 percent of its assets in the U.S. where declining home values and the worst unemployment in 16 years have caused consumers to cut spending. The International Council of Shopping Centers and Goldman Sachs Group Inc. predict retail sales in February will decline by as much as 2 percent. More
Sears Shuts Struggling Stores
from Forbes
After months of aggressively shuttering ailing stores, Sears Holdings surprised the Street with better-than-expected earnings during a period plagued by severe declines in consumer spending. Sears Holdings, the parent company of Kmart and Sears Roebuck, closed nearly 30 stores in 2008 and doesn't intend to veer from the strategy. Sears said it decided to close an additional 24 stores in January. More
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