Report: Shoppers to Face Higher Prices on Holiday Goods
New York City Some retailers are already talking about price increases of up to 15% this year on holiday goods, from staples such as tree ornaments and toys to luxury gifts, due to soaring energy prices, according to the Associated Press.
Certain big discounts that worked last year may not be as good a deal this season since the original price could be higher, the report said.
Holiday decor will be as much as 12% pricier this holiday season than a year ago, and the price of rotisserie chicken, which had been $4.99 for years, was raised to $5.49 about three months ago and just went up to $5.99 last week, the report said.
European luxury goods are also getting even pricier. The report noted that European status handbags, shoes and clothing, whose prices have been creeping up in recent years, will also rise as much as 15% starting this fall.
Spartan Stores 1Q sales up 12.8%
GRAND RAPIDS, Mich. Spartan Stores reported that net sales for the first quarter increased 12.8% to $586.7 million from $520.2 million in last year’s first quarter.
Net earnings for the quarter increased 52.2% to $9.9 million, or 46 cents per diluted share, from $6.5 million, or 30 cents per diluted share, in the same period last year.
Fresh & Easy opens 20th store in Phoenix
PHOENIX Fresh & Easy Neighborhood Market has opened its 20th store in Phoenix, bringing its total number of U.S. stores to 67.
Fresh & Easy also announced four upcoming store openings in the Phoenix area, including the grocer’s first in Tempe, Ariz.