Gift Card Survey Shows Room for Growth
Louisville, Ky., Aconsumer survey suggests Americans will spend more on gift cards during the coming holiday season than they spent in 2004. An annual survey of adult gift card purchasers and recipients recently conducted by Stored Value Systems (SVS), shows that consumers intend to spend an average of $248 on gift cards this holiday season, an increase from $223 in 2004, and $183 in 2003.
Additionally, the percentage of purchasers for whom a gift card is a planned purchase from the minute they make their list has jumped dramatically from 69% in 2004 to 84% in 2005.
On average, the number of cards purchased in the past year has increased from 4.5 in 2004 to 6.5 in 2005.
New Senior VP for The Great Indoors
Hoffman Estates, Ill., Sears Holdings announced the promotion of Teresa Byrd to senior VP and general manager of The Great Indoors, effective immediately. She will oversee store operations, merchandising and marketing for the chain.
Byrd previously served as senior VP and general merchandise manager for Sears Essentials and Sears Grand.
Adidas Stands by Forecast
Frankfurt, Germany, German sporting-goods firm Adidas-Salomon reiterated its 2005 profit and sales forecasts and mid-term goals. Adidas, which is buying U.S. rival Reebok to further compete with bigger rival Nike, said it maintains its expectation of a 20% growth in this year’s net income.