July Retail Sales Mixed
WASHINGTON — The National Retail Federation (NRF) painted an uneven picture of the economy based on July’s retail sales figures. Healthy sales in back-to-school categories helped offset unexpectedly poor sales in furniture stores and building materials. The NRF said this could possibly be a sign that the recent housing boom is coming to a close.
CE and appliance stores saw sales decrease 0.1 percent seasonally adjusted from June, and increase 0.8 percent unadjusted year over year. Total retail sales, excluding car dealers, gas stations and restaurants, increased 0.3 percent seasonally adjusted from June, and increased 5 percent year over year.
“Spending has stalled and the economy is stuck in neutral,” NRF chief economist Jack Kleinhenz said, as “Americans remain in a cautiously positive spending pattern.”
Toys‘R’Us To Match Prices Online
WAYNE, N.J. – As it gears up for the coming holiday selling season, Toys“R”Us said it will extend its instore price match guarantee to 11 online competitors. The 11 include the e-commerce sites of Best Buy, Fred Meyer, Kmart, Meijer, Sears, Target and Walmart, as well as No. 1 e-tailer Amazon.com and several baby product specialty sites.
The top toy chain already matches in-store pricing on identical items when a local retailer’s current print ad is presented at checkout.
Newegg Opens Its First Pop-Up Shop
CITY OF INDUSTRY, CALIF. — Embracing the showroom trend, tech specialty e-tailer Newegg set up its first pop-up store here earlier this month in The Oaks shopping center. The popup featured more than 70 products, including tablets, Ultrabooks, digital cameras and hard drives, which were available via free next-day shipping. The three-day event was sponsored by Intel, Sony, Samsung and Western Digital.
PRO Adds Cole To Board
FORT WORTH, TEXAS – Bob Cole, president of A/V specialty dealer World Wide Stereo, has been named a director of the Progressive Retailers Organization (PRO Group), the 14-member buying group. Parent group Brand- Source is holding its biannual convention and expo this week in Las Vegas.