FINANCE

Retailers Get Ready for Father’s Day

BY CSA STAFF

New York City, Major retailers are turning their attention to Father’s Day (June 18).

By expanding shopping hours and advertising earlier and more aggressively for dad’s special day, which has lagged behind Mother’s Day in the past, merchants are hoping to give the day a big sales boost.

According to the National Retail Federation’s survey of 7,000 consumers, shoppers plan to spend $9 billion on Father’s Day gifts, up from a planned $8.2 billion a year ago. Among the retailers actively promoting Father’s Day this year is Sears, Roebuck and Co. The company dispatched caroling dads who sang holiday jingles with Father’s Day themes at malls in the New York and Chicago area. It broke its Father’s Day ad campaign three weeks earlier than a year ago and is offering a special Father’s Day gift card for the first time.

Home Depot Inc. has also expanded its Father’s Day advertising beyond circular advertising this year, launching a television and on-line advertising campaign. Additionally, J.C. Penney Co. is opening its doors at 8 a.m. on June 17, an hour earlier than a year ago. This is a part of an effort to expand sales beyond ties and shirts to such items as iPod accessories and hand-held games.

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FINANCE

Consumers Upbeat About Economy

BY CSA STAFF

New York City, Consumer confidence in the economy rebounded over the last month, suggesting that people are taking still-elevated gasoline prices and the presence of even higher borrowing costs in stride. The RBC CASH Index, based on results from the international polling firm Ipsos, showed that confidence was at 84.1 in early June, a big improvement from May’s reading of 67.1, a seven-month low. June’s number marked a return to a more normal reading for the confidence barometer since consumer confidence stood at 84 a year ago. “In spite of high energy costs and all the uncertainties around them, consumers are holding in there. It’s still a decent economy,” Joel Naroff, president of Naroff Economic Advisors, told the Associated Press. “Consumers seem to be weathering a lot of storms out there.”

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Dunkin’ Brands to Expand Within Other Retailers

BY CSA STAFF

Pawtucket, R.I., Dunkin’ Brands Inc. said the company plans to rely on multiple formats to rapidly expand to nearly 15,000 U.S. locations by 2020, up from about 5,000 today, according to The Boston Globe. The expansion will include Dunkin’ stores inside supermarkets and other retailers. The move to go nationwide is part of an effort to keep up with rivals Starbucks and McDonald’s.

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