FINANCE

NRF: Holiday Sales Rose 3% in 2007

BY CSA STAFF

New York City Retail industry sales for December 2007 rose 1.7% over last year, and decreased 0.4% seasonally adjusted from November, the National Retail Federation (NRF) said Tuesday.

Total 2007 holiday sales, which combine November and December sales, rose 3% to $469.9 billion, weaker than NRF’s projected 4% holiday forecast. It was the lowest holiday seasonal growth since 2002, when sales rose 1.3%.

“Economic pressures caused deterioration in the sales climate at the end of the year,” said NRF chief economist Rosalind Wells. “Because holiday sales were disappointing, retailers will have to quickly adapt with pricing strategies and promotions that will encourage customers to spend.”

NRF is forecasting that retail industry sales will increase 3.5% in 2008.

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Joe’s Sports taps ex-Bass Pro pres. as ceo

BY CSA STAFF

WILSONVILLE, Ore. Hal Smith, former president of Bass Pro Shops, has been named president and ceo of Joe’s Sports & Outdoor, a Northwest sporting goods retailer.

Smith most recently served as evp pf Pep Boys. In addition to serving as president of Bass Pro Shops, he has served as president/ceo of several other leading companies, Joe’s Sports & Outdoor reported.

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Wakefern to use IBM POS systems

BY CSA STAFF

ARMONK, N.Y. Wakefern is working with IBM to deploy advanced IBM point-of-sale systems, software and infrared touch displays at ShopRite stores, the companies announced Friday.

Wakefern will install IBM’s SurePOS Application Client/Server Environment, an application that optimizes customer service and improves reliability at the point-of-sale system, the companies reported. Wakefern will also use IBM’s Store Integrator on the IBM 4690 operating system.

ShopRite stores also will be upgraded with IBM SurePOS 700 POS terminals and servers and IBM SurePoint 4820 Touch displays at all check-out lanes.

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