FINANCE

NRF: Valentine’s Day total spending to hit $17.6 billion

BY Marianne Wilson

Washington, D.C. — Consumers are set to put out all the stops this Valentine’s Day, with the average person shelling out $126.03, up 8.5% over last year, according to NRF’s 2012 Valentine’s Day Consumer Intentions and Actions survey, conducted by BIGinsight. Total spending is expected to reach $17.6 billion.

Consumers’ “better halves” will shell out the most on their partners, with the average person planning to spend $74.12 on their spouse or significant other, up from $68.98 last year. Additionally, consumers will spend and average of $25.25 on their children, parents or other family members and $6.92 on friends. And don’t forget pets: The average person will spend about $4.52 on their pets.

The survey also found the average male is expected to spend $168.74 on clothing, jewelry, greeting cards and more this year — nearly twice as much as women who are expected to spend an average of $85.76.

In addition to traditional gift ideas, those celebrating the holiday will also put some serious thought into the perfect gift. More than eight in 10 (18.9%) will buy jewelry, the highest percent in the survey’s history. Total spending on jewelry is expected to reach $4.1 billion, up from $3.5 billion last year.
Additionally, 50.5% all celebrants will buy candy, 36% will buy flowers and 35.6% will treat someone to a nice evening out.

Though discount stores are expected to see the most traffic (37.0%), one-third of shoppers (33.6%) will head to department stores, up from 30.5 percent last year. Nearly 19.3% will shop online for gifts this Valentine’s Day. Others will shop at specialty stores (20.2%), floral shop (17.8%), jewelry stores (10.6%) and specialty clothing stores (6.6%).

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T.Quiophuio says:
Mar-24-2012 07:02 am

Since the holiday falls
Since the holiday falls during the workweek this year, hotel rates are going to be lower during the weekend before and on Valentine’s Day so more people will opt to celebrate by traveling, Panteva said. The holiday’s timing will also impact lingerie and clothing sales, which are expected to underperform the pace of growth in total sales and rise 2.8 percent to $1.2 billion.

T.Quiophuio says:
Mar-24-2012 07:02 am

Since the holiday falls during the workweek this year, hotel rates are going to be lower during the weekend before and on Valentine’s Day so more people will opt to celebrate by traveling, Panteva said. The holiday’s timing will also impact lingerie and clothing sales, which are expected to underperform the pace of growth in total sales and rise 2.8 percent to $1.2 billion.

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OPERATIONS

Fred Meyer Jewelers launches mobile e-commerce websites

BY Staff Writer

Portland, Ore. — Fred Meyer Jewelers, the nation’s third-largest fine jewelry retailer, announced the launch of mobile websites for its namesake and Littman Jewelers brand. The sites are optimized for mobile devices including iPhone and Android smartphones.

Fred Meyer Jewelers has partnered with Moovweb to create the mobile enabled websites. The mobile websites serve as a complement to the regular sites with functional ecommerce capability.

Fred Meyer Jewelers is very excited to expand into the mobile channel to better address the needs of our increasing mobile audience," says Kirsten Darrow, VP marketing and e-commerce at Fred Meyer Jewelers.”

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S.Jhon says:
Jan-14-2013 03:50 pm

E Commerce Is A Big Source
E Commerce Is A Big Source Which Provide You The Facility Of Online Shopping By Creating Online Stores. You Can Get Your Desired Good From Mobiles Too. The Shopping Cart Software And Hosted Shopping Cart Are The Best Source In Order To Get Help In Creating Online Store.

S.Jhon says:
Jan-14-2013 03:50 pm

E Commerce Is A Big Source Which Provide You The Facility Of Online Shopping By Creating Online Stores. You Can Get Your Desired Good From Mobiles Too. The Shopping Cart Software And Hosted Shopping Cart Are The Best Source In Order To Get Help In Creating Online Store.

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FINANCE

Pep Boys to be acquired in $791 buyout

BY Marianne Wilson

Philadelphia — The Pep Boys — Manny, Moe & Jack, has agreed to be taken private by private equity firm The Gores Group for about $791 million. The total transaction, including debt, is valued at about $1 billion.

Under the terms of the buyout, the Los Angeles-based Gores Group will pay Pep Boys shareholders $15 a share, 24% above the closing price on Friday.

“Partnering with the Gores Group delivers a significant premium for Pep Boys’ shareholders and ensures a strong foundation for us to continue our expansion,” Michael R. Odell, the chain CEO and president, said in a statement. “Our board firmly believes that this transaction is in the best interests of all of our stakeholders.”

Odell and other senior managers, are expected to remain in their positions once the acquisitions closes.

Pep Boys’ board unanimously approved the acquisition, which still needs approval from the company’s shareholders. The transaction is expected to close in the fiscal second quarter. The agreement includes a provision, which allows Pep Boys to seek and receive alternative offers for a period of 45 days.

Pep Boys was founded in 1921 by Emanuel (Manny) Rosenfeld, Maurice (Moe) Strauss, Moe Radavitz and Graham (Jack) Jackson. It has more than 700 locations in 35 states and Puerto Rico.

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