REAL ESTATE

Uniqlo confirms San Francisco flagship

BY Marianne Wilson

New York — Uniqlo announced that it will open a 29,000-sq.-ft. flagship in San Francisco, in the fall of 2012. The store, which will be located at 111 Powell Street, close to the Union Square shopping district, marks the brands’ first location outside of New York and will act as the epicenter for expansion along the West Coast.

“Our plan to open a store on the West Coast is part of our longer-term commitment to expand our presence throughout the United State,” said Tadashi Yanai, president and CEO, Fast Retailing, parent of Uniqlo.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

First Data report: Card spending growth stable in March

BY Katherine Boccaccio

Atlanta — A report released Tuesday by First Data Corp., which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations, found that warm weather and spring promotions boosted discretionary spending in March.

According to First Data’s March 2012 SpendTrend report, year-over-year dollar volume growth was 8.7% in March, compared with February’s 8.9% growth.

Mild temperatures and early Easter holiday spending drove retail foot traffic despite higher gasoline prices. “The mild weather across much of the nation in March encouraged retailers to promote sales of spring merchandise, providing an additional catalyst to customer traffic,” said Silvio Tavares, senior VP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend.

In March, PIN debit surged to yearly highs in dollar volume and transaction growth. As a higher percentage of taxpayers elected to have their tax refunds electronically deposited into their bank accounts this year, it appears they made more discretionary purchases with PIN debit cards instead of credit cards.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
OPERATIONS

Safeway promotes CFO to president

BY Katherine Boccaccio

Pleasanton, Calif. — Safeway announced Monday that it has promoted its executive VP and CFO Robert Edwards to the position of president.

Edwards has held his current role since 2004. He will have overall responsibility for the company’s retail operations, marketing, merchandising, corporate brands, manufacturing, distribution and finance functions, and will continue as CFO until a successor is named to the position.

In other company executive news, Safeway said that executive VP Larree Renda will add real estate and information technology to her roles, as well as managing human resources and labor relations, strategic initiatives, corporate social responsibility, government relations, public affairs and Safeway Health.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...