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Shoppers in the United States plan on spending an average of $646 on gifts this holiday season, representing an 11% increase over the $582 they planned to spend, on average, in 2012, according to Accenture’s annual holiday shopping survey. The forecast uptick is more optimistic than other holiday surveys released to date. “The average dollar... Read more »

Deloitte’s holiday sales forecast points to further signs that the economy is recovering. Holiday sales are expected to climb to between $963 and $967 billion, representing a 4% to 4.5% increase in November through January holiday sales (excluding motor vehicles and gasoline) this year from last year’s season.  The growth rate is on par with... Read more »

Canadian retailer Hudson’s Bay, parent company to Lord & Taylor stores, has agreed to purchase Saks Fifth Avenue, based in New York City. The buyout is expected to close by year end. The combination of these three brands will make the company one of the largest luxury brand retailers in North America, with over 320... Read more »

Bradenton, FL June 12, 2013—Accelerated Analytics®, a leading provider of retail point of sale reporting, announced today it has acquired afterBOT’s retail POS reporting business.  The acquisition further expands the market leadership of Accelerated Analytics as the go to provider for retail point of sale reporting solutions.  “The acquisition of the afterBOT point of sale... Read more »

MOORESVILLE, N.C., Jun 17, 2013 (BUSINESS WIRE) — Lowe’s Companies, Inc. LOW +0.51%  , the world’s second largest home improvement retailer, today announced it has entered into an asset purchase agreement with Orchard Supply Hardware, under which Lowe’s will acquire the majority of Orchard’s assets for approximately $205 million in cash, plus the assumption of... Read more »

JC Penney has launched a new home goods strategy that includes expansive home goods boutiques at 500 of their 1,100 stores.  CEO Ron Johnson calls the strategy “pivotal” to his efforts to revive Penney. For seven years, home goods have been Penney’s worst performing category. The home category accounted for only 12 percent of sales... Read more »

Kohl’s Corp. has hired Starbucks’ Michelle Gass, the executive responsible for developing the then new Frappuccino into a $2 billion a year business that makes up one fifth of Starbucks sales. The move is part of Kohl’s strategy to recapture the growth it enjoyed in the 1990’s and early 2000’s. “We probably got a little... Read more »

Perfume maker Coty Inc. (COTY) is seeking as much as $1.1 billion on behalf of its shareholders in a U.S. initial public offering set for June 12. The company’s owners, including private-equity firm Berkshire Partners, plan to offer 57.1 million shares for $16.50 to $18.50 each. Coty will not get any proceeds from the IPO.... Read more »

The New York Times and Forbes have both recently approached an issue every retailer is struggling with: “showrooming”. “Showrooming” is the phenomenon of customers browsing and researching the retailer’s products, only to purchase it elsewhere for a lower price.  Many big retailers such as Wal-Mart, Target and Best Buy are price-matching and requiring unique SKUs... Read more »