Payless ShoeSource to rebuild Joplin, Mo., store
Topeka, Kan. — Collective Brands’ Payless ShoeSource announced that it will rebuild its tornado-demolished store in Joplin, Mo., with a new 3,100-sq.-ft. store at the same location.
“The people of Joplin have been through a great loss and they need the support of many to build-back all that was lost," said LuAnn Via, CEO and president of Payless. "They are now energized by their future and focused on rebuilding a community even better than before. And we’ll be there with them. Payless has been a member of Joplin for 18 years with two store locations, and we intend to remain a key member of the community. We are pleased to open this new store, which is a focal location for us in Joplin and frequented by many shoppers."
Zale and Vera Wang team up for jewelry line
Dallas — Zale Corp. and designer Vera Wang announced they are teaming up on an exclusive line of diamond bridal jewelry.
The new Vera Wang Love collection will include diamond engagement rings, matching wedding bands and solitaire bridal jewelry. Each ring will have the Vera Wang Love logo, and every engagement ring will include a blue sapphire.
The collection will be sold only at Zale stores in the United States, Canada and Puerto Rico. The jewelry will be in United States and Puerto Rico stores in October.
Retail sales in U.S. climb by highest percentage in four months
Washington, D.C. — A report released Friday by the Commerce Department said that retail sales in the U.S. rose 0.5% in July, the most in four months and demonstrating that consumers may be holding their own in a tumultuous economy.
The 0.5% increase matched the Bloomberg News median forecast followed a 0.3% gain in June that was larger than estimated. Excluding auto sales, purchases rose more than projected.
The gain in spending is “pretty relieving,” Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York, told Bloomberg. “The upward revisions suggest that the trajectory of consumer spending heading into the third quarter wasn’t as bad as previously thought.”
Nine of 13 major categories showed a gain in sales in July, led by electronics stores, furniture retailers, auto dealers and service stations. Retailers reported July sales that exceeded analysts’ estimates.