Moderate Holiday Growth Expected
Washington, D.C., Following one of the strongest holiday seasons in recent memory last year, the National Retail Federation (NRF) projected an annual gain of 5% for retailers during the upcoming holiday season, despite concerns that rising energy prices and other factors may make it difficult to match last year’s sales.
NRF chief economist Rosalind Wells averred that instead of labeling high gas prices as the sole make-or-break factor, “it is crucial for analysts to look at the big picture instead of isolating one economic indicator to project sales.” She added that the job market, disposable income and consumer confidence would be just as important for retailers in the upcoming season.
Safeway Appoints White
Pleasanton, Calif., Safeway Inc. appointed James D. White, 44, to the position of senior VP, corporate brands. He will oversee the corporate brands organization including its marketing, manufacturing, finance and outside sales functions. He joins Safeway from Gillette Company where he spent three years as senior VP for business development, North America.
Seven-Eleven Japan Extends Offer
Tokyo, Seven-Eleven Japan Co. announced that, at the request of the special committee of the board of directors of 7-Eleven, it has extended its all-cash offer for the outstanding shares of 7-Eleven that it does not already own until midnight, EST, on Tuesday, Oct. 18. The extension will provide the special committee with additional time to complete its review and evaluation of the tender offer.