FINANCE

First Data: May card spending healthy

BY Katherine Boccaccio

Atlanta — A report released Monday by First Data Corp. found that same-store consumer spending by credit, signature debit, PIN debit, EPT cards and checks at U.S. retail locations rose 7% year-over-year. April’s growth was 5.7%.

The First Data SpendTrend analysis for the full month of May 2012 showed that, although consumers continued to spend at a healthy clip early in the month, activity did slow as the month progressed. Transaction growth in May held fairly steady at 5.9%.

According to the report, consumers were more cautious with spending in discretionary categories in May. Industries such as hotels and restaurants saw significantly slower dollar volume growth in May compared with April. Overall year-over-year average ticket growth was 1.0% in May, up from April’s -0.1% growth. In May, credit dollar volume growth surged to 8.2% past April’s growth figure of 5.8%.

“Overall May card spending growth was healthy, but there is reason for caution. During the month we saw consumers reducing the growth of their discretionary spending at retail merchants and increasingly resorting to credit for necessities,” said Silvio Tavares, senior VP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend.

keyboard_arrow_downCOMMENTS

Leave a Reply

B.Smalls says:
Apr-15-2013 01:39 pm

Here is a weird thing. No
Here is a weird thing. No matter how poor people are, they still keep on shopping either for holidays or for everyday needs. They are willing to do whatever it takes, even find online money borrowing centers at high interest...but they still can't refuse from the idea of spending extra. I do not think that it is a good thing. We should rather learn how to live frugally and forget about overspending. This year's overdraft was noticed to be the highest one. And yet still it does not seem to bother too many consumers...they are ok with going beyond the limit. Where is the logic here? There is none!

B.Smalls says:
Apr-15-2013 01:39 pm

Here is a weird thing. No matter how poor people are, they still keep on shopping either for holidays or for everyday needs. They are willing to do whatever it takes, even find online money borrowing centers at high interest...but they still can't refuse from the idea of spending extra. I do not think that it is a good thing. We should rather learn how to live frugally and forget about overspending. This year's overdraft was noticed to be the highest one. And yet still it does not seem to bother too many consumers...they are ok with going beyond the limit. Where is the logic here? There is none!

S.Ledesma says:
Jun-12-2012 03:53 pm

payday cash advance
According to the report, consumers were more cautious with spending in discretionary categories in May. Industries such as hotels and restaurants saw significantly slower dollar volume growth in May compared with April.

According to the report, consumers were more cautious with spending in discretionary categories in May. Industries such as hotels and restaurants saw significantly slower dollar volume growth in May compared with April.

News

Weis set to reopen former Genuardi’s stores this weekend

BY CSA STAFF

SUNBURY, Pa. — Weis Markets has closed on its purchase of three former Genuardi’s stores and is slated to reopen them this weekend.

In advance of these store openings on June 16, located in Conshohocken, Doylestown and East Norristown, Pa., Weis said it will reopen each store’s pharmacy Monday at 12 noon to minimize prescription service disruption.

Weis added that it has hired 218 former Genuardi employees and has added 150 positions, which will allow each store to double the number of cashiers it employs and increase front-end service.

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

Hibbett names CFO

BY Staff Writer

Birmingham, Ala. — Hibbett Sports announced that Scott J. Bowman has joined the company as senior VP and CFO effective July 9. He will replace Gary Smith, whose retirement is effective July 8, 2012.

Bowman was most recently division chief financial officer – Northern Division for The Home Depot, a position he has held since 2006.

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 ...