C-SUITE

  • Survey: Canadian shoppers not impressed with Target

    NEW YORK — Canadian shoppers aren’t wowed by Target Corp., according to a customer-satisfaction rating survey by Forum Research. As reported in The Globe and Mail, the survey ranked Target at the bottom of a list of major retailers operating in Canada. (Satisfaction as measured by the survey relates to service, prices and/or merchandise offering.)

    Over all, Target scored a mean 2.7 out of 4, compared with Costco’s 3.5, Wal-Mart’s 3.1 and a 3.2 average.

  • Saks Q2 misses as loss widens

    New York -- Saks Inc. on Monday reported a worse than expected second-quarter loss amid disappointing sales of shoes and handbags. 

    Saks, which last month reached a deal to be acquired by Canada's Hudson's Bay Co., had a net loss of $19.6 million for the quarter ended Aug. 3, compared with a net loss of $12.3 million a year earlier.

    Overall sales rose 0.5% to $707.8 million for the quarter. Same-store sales rose 1.5%, below the 4.5% increase analysts had expected.

  • Office Depot board claims progress in OfficeMax merger

    BOCA RATON, Fla. — In a letter to shareholders, the board of directors of Office Depot Inc. said it has made significant progress toward a successful closing of the planned merger with OfficeMax by the end of this year. The letter also urges shareholders to support the board’s 10 nominees for the company’s board of directors.

  • IBM: Online consumer spending jumps 15% in Q2

    Armonk, N.Y. -- Online consumer spending rose a healthy 15% in the second quarter of this year compared to the second quarter of last year. The IBM Online Retail Sales Index shows that mobile sales reached 19.4% of total online sales, up 28% from last year. Online shopping growth substantially outpaced the 4.6% year-over-year increase of in-store sales during the second quarter.

  • Consumer spending drops in April

    WASHINGTON — U.S. consumer spending dropped 0.2% in April 2013, according to the Commerce Department.

    It was the first monthly decline since May of last year and follows increases of 0.1% in March and 0.8% in February. Falling gas prices in April were part of the reason for the drop in spending, with purchases of gas, electricity and other energy goods and services down 4.4%.

    In addition, increased Social Security deductions in consumer paychecks may have also contributed to the decline in spending.

     

  • Safeway names Libenson CIO

    PLEASANTON, Calif. — Safeway has appointed Barry Libenson as senior VP and CIO, effective July 1, 2013. Libenson replaces former Safeway CIO David Ching, who retired earlier this year. He will oversee IT business functions and report to executive VP Larree Renda.

    Libenson previously served as senior VP and CIO at Land O’Lakes Inc. since 2010. Other positions he has held include VP of business at Ingersoll-Rand and executive VP at Surety.com.

  • Retail CFOs expect 3% increase in total 2011 sales, M&A activity rises

    Amid economic uncertainty and low consumer confidence levels, retail CFOs are expecting a 3% increase in total 2011 sales, according to a recent survey by BDO USA. While the number reflects the study’s most optimistic sales forecast since 2007, it is down from the 4.7% sales increase reported by the Commerce Department in 2010.

  • Costco’s Best Weapon

    The retail world will lose one of its most colorful and respected CEOs when Costco Wholesale Club co-founder and chief executive Jim Sinegal steps down on January 1, 2012. Among retailers, Sinegal stands out for offering proof positive that a business could be good to its employees and customers and still make a hefty profit.

  • Retail Shuffle

    It’s not easy keeping up with the comings and goings of retail executives these days. Every day seems to bring a change at -- or near -- the top. Among the most recent announcements was the news that Terrance Marks, CEO of The Pantry and architect of the chain’s turnaround strategy, was stepping down to take a position in Atlanta. Also hot off the wire: Mark Cosby, former president of stores at Macy’s, has been named president of CVS/pharmacy.

  • Mike Boylson: From J.C. Penney to Baseball!

    J.C. Penney marketing chief Mike Boylson is trading the retail game for another type of game entirely: baseball. The 32-year J.C. Penney veteran officially left the company on July 1, and is already hard at work on his next venture: Boylson and a pal are opening a D-Bat baseball and softball training franchise in Allen, Texas, not far from J.C. Penney’s headquarters.

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