Employment Trends Index up 1.38% in February
New York City — The Conference Board reported Monday that its Employment Trends Index increased 1.38% in February to 107.46, from the revised figure of 105.99 in January.
The February figure is also up 6.1% from the same month a year ago.
“The acceleration in the ETI suggests that rapid job growth is likely to continue in the next several months, despite modest improvements in demand and production,” said Gad Levanon, director of macroeconomic research at The Conference Board. “In the past year output per hour of work grew very slowly. If this trend continues, employment growth could remain robust even if GDP continues to grow at a modest 2% to 2.5%, as we expect.”
CSA Columnist: High gas prices + warm weather = low sales?
New York City — The latest column released by Chain Store Age contributor Jeff Green suggests that increases at the gas pump and a warmer-than-average winter could dampen consumer confidence and negatively impact sales.
Click here to read this week’s Retail Rap by Jeff Green.
Former Sam’s CEO Cornell lands at PepsiCo
Purchase, N.Y. — Less than two months after resigning as president and CEO of Sam’s Club, Brian Cornell has landed at Purchase, N.Y.-based PepsiCo where he will serve as CEO of the company’s North American food division.
Cornell will be responsible for Frito-Lay North America, Quaker Foods & Snacks North America, PepsiCo Mexico, South America Foods, PepsiCo customer teams and all of PepsiCo’s Power of One activities within the Americas.
Cornell fills a position vacated by John Compton who was named to a new position as president of PepsiCo as part of a move to become a more fully integrated, global food and beverage company.
Cornell expressed a desire to return to the northeast when his departure from Sam’s Club was announced on Jan. 20. At the time, he indicated that it was time to put his family first after 30 years of asking them to follow him all around the globe.
Prior to Sam’s Club, Cornell was president and CEO of Michaels Stores and before that he was executive VP and chief marketing officer with Safeway.