OPERATIONS

Consumer confidence rises on hiring advance

BY Katherine Boccaccio

Washington, D.C. — A report released Thursday by Bloomberg showed that consumer sentiment climbed last week and U.S. companies added more workers than projected in December.

The Bloomberg Consumer Comfort Index rose to minus 31.8 in the period ended Dec. 30, its highest since April, from minus 32.1 a week earlier, according to the report. Figures from the ADP Research Institute showed a 215,000 increase in employment, the largest since February, while the Labor Department said more Americans filed claims for jobless benefits last week.

“The economy is growing quite well,” David Sloan, a New York-based senior economist at 4Cast Inc., told Bloomberg. “The labor market seems to be expanding at a fairly solid pace. Consumer spending will continue to grow, but slowly.”

The pickup in U.S. hiring may be helping to boost Americans’ confidence. For the year, the Bloomberg Consumer Comfort Index climbed 12.9 points, the biggest annual improvement since 1998.

Last week’s gains were broad-based, indicating even wealthier households were less concerned about tax increases and fiscal policy challenges heading into 2013. The report showed sentiment among Americans earning $100,000 or more was the highest in more than two years.

For all of 2012, the comfort index averaged minus 38.1, the highest since 2007. Nonetheless, it remains below its long-term average of minus 15.8.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Rite Aid reports 2.2% decrease in comps for December

BY Alaric Dearment

New York — A shift in the New Year’s holiday calendar and the introduction of new generic drugs contributed to a decrease in same-store sales for the month of December at Rite Aid, the retail pharmacy chain said Thursday.

Rite Aid reported a 2.2% decrease in comps for the four-week period that ended Saturday, including a 1% decrease in front-end comps and a 2.9% decrease in pharmacy comps.

Total sales for the four-week period decreased by 2.7%, to $2.054 billion, compared with $2.112 billion in December 2011.

keyboard_arrow_downCOMMENTS

Leave a Reply

A.Wilsom says:
Jan-07-2013 06:49 am

generic drugs
Thanks that's very useful information. The introduction of new generic drug has reduced the competitions between pharmacies. Nowadays, drugs are very costly most of the people can't afford it, that's why they prefer to buy online. For that reason you can see many people buying generic drugs like silagra, kamagra, penegra etc online.

A.Wilsom says:
Jan-07-2013 06:49 am

Thanks that's very useful information. The introduction of new generic drug has reduced the competitions between pharmacies. Nowadays, drugs are very costly most of the people can't afford it, that's why they prefer to buy online. For that reason you can see many people buying generic drugs like silagra, kamagra, penegra etc online.

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
SUPPLY CHAIN

Menards and Icom North America team toward propane autogas fleet

BY Katherine Boccaccio

New Hudson, Mich. — Icom North America announced Thursday an installation program for 140 propane autogas Ford F150 pickup trucks for use by Menards home improvement stores.

The vehicles will serve 36 Menards locations throughout Illinois and at Menards’ Eau Claire West store in Wisconsin.

Icom North America has teamed with Menards on a project to up-fit its JTG II Liquid Injection Propane System on Menards fleet of Ford F150 pickups equipped with a 3.7-liter engine.

The project begins with the up-fitting of vehicles in 36 Illinois stores and one Wisconsin store providing pickups for customer rentals and general store services. Icom-trained Installer Metro Motors of Cicero, Ill., is performing the installations.

The project will potentially expand to other Midwest-based Menards stores, providing a greener, more efficient fleet for the retailer, which is committed to using propane as an alternative fuel.

"We’re glad to be advancing our company forward into this growing market since propane is a cleaner burning fuel and less expensive, so it’s a win-win for everyone," added Jeff Abbott, a Menards spokesperson.

keyboard_arrow_downCOMMENTS

Leave a Reply

A.Loe says:
Feb-01-2013 09:59 am

That's a great news.This
That's a great news.This project will prove beneficial for many people. Epson is the brand of printer which is trusted by many people.This is because of the quality of printing achieved by it.Get details about Epson replacement ink from the link.

A.Loe says:
Feb-01-2013 09:59 am

That's a great news.This project will prove beneficial for many people. Epson is the brand of printer which is trusted by many people.This is because of the quality of printing achieved by it.Get details about Epson replacement ink from the link.

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...