OPERATIONS

DGSE names CEO

BY Staff Writer

Dallas — Jewelry wholesaler and retailer DGSE Cos. said Friday it has named James J. Vierling as president, CEO and chairman of the board.

Vierling, previously president of Southern Bullion Coin & Jewelry which was recently acquired by DGSE, succeeds William Oyster in all three positions.

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FINANCE

Consumer spending climbs 0.8% on higher incomes

BY Katherine Boccaccio

Washington, D.C. — A Monday report by the Commerce Deptartment showed that consumer spending in the U.S. for September rose more than forecast as household incomes climbed.

Household purchases increased 0.8%, the most since February and topping the 0.6% gain expected by Bloomberg. The Sept. rise followed a 0.5% advance in August.

Incomes rose 0.4%, the most since March.

The economy expanded at a 2% annual pace in the third quarter, boosted by the uptick in household purchases.

“We have some positive momentum that we could gradually build on over time,” Scott Brown, chief economist at Raymond James & Associates, told Bloomberg.

Retail sales in September and August had the best back-to-back showing since late 2010.

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H.G says:
Nov-02-2012 04:59 am

The Commerce Department
The Commerce Department launched a report Monday saying that consumer spending was on the rise. That hints at improved customer confidence. However, in addition, Americans saved less for the third sequential month. Source for this article: Consumer spending is up, personal savings down

H.G says:
Nov-02-2012 04:59 am

The Commerce Department launched a report Monday saying that consumer spending was on the rise. That hints at improved customer confidence. However, in addition, Americans saved less for the third sequential month. Source for this article: Consumer spending is up, personal savings down

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OPERATIONS

Eastern retailers prepare for Hurricane Sandy

BY Katherine Boccaccio

New York — As Hurricane Sandy bears down on the northeastern U.S., retailers are doing more than stocking up on emergency supplies for their customers – they are making preparations to protect themselves.

According to a Friday report by MarketWatch, Sears Holdings Corp., for example, has a 45-person crisis command team in place to stay in close communication with its personnel housed at Sears and Kmart stores in the at-risk areas.

Sears told MarketWatch that it also has trailers on standby for a store that currently has some roof construction underway in order to relocate higher-priced merchandise to a nearby distribution center.

Wal-Mart Stores spokeswoman Dianna Gee said that about 800 of the company’s stores and Sam’s Clubs could be affected by the storm, and that the retailer would follow local authorities’ evacuation orders.

Wal-Mart, like Sears, has an emergency operation center and also has a full-time meteorologist on staff. The retailer’s emergency distribution centers around the U.S. are stocked with bottled water, canned foods and other emergency supplies.

Wal-Mart also has “truckloads of merchandise strategically located” outside of the projected areas to respond to any potential increase in demand after the storm passes, Gee told MarketWatch.

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