Retail

CIT Net Jumps 46 Percent in Second Quarter

CIT Net Jumps 46 Percent in Second Quarter

NEW YORK–Net income for CIT Group rose a dramatic 46 percent in the second quarter, to a total of $142.1 million. The increase occurred in spite of a 5.3 percent drop in interest income, which was $993.5 million in the second quarter. According to a CIT statement, this decline was offset by a 36 percentMore »

Target Appoints Zabel V.P. of Government Affairs

Target Appoints Zabel V.P. of Government Affairs

MINNEAPOLIS—Matt Zabel has been named vice president of government affairs for Target. Zabel is responsible for representing Target in Washington, identifying important policy issues and being part of the legislative process. Based in Washington, he oversees the government-affairs teams for the retailer both here and in the capital. Before joining Target, Zabel was chief ofMore »

Carroll Joins McNeill Communications

Carroll Joins McNeill Communications

HIGH POINT, N.C.—Joe Carroll, the former long-time publisher of Furniture Today, has joined McNeill Communications Group as president of its newly formed marketing communications division. Caroll retired from the magazine earlier this year after spending 33 years there, most of it as publisher. At McNeill, which specializes in the home furnishings field, he will overseeMore »

Marshalls to Open First Canadian Stores in 2011

Marshalls to Open First Canadian Stores in 2011

FRAMINGHAM, Mass.–The TJX Cos. said it plans to open the first Marshalls stores in Canada in spring 2011. Marshalls will thus become TJX Canada’s fourth off-price retail division, joining Winners, HomeSense and STYLESENSE. In a TJX statement, Carol Meyrowitz, president and chief executive officer, said the company plans to open six Marshalls north of theMore »

Whirlpool Second-Quarter Net Jumps 163 Percent

Whirlpool Second-Quarter Net Jumps 163 Percent

BENTON HARBOR, Mich.–Second-quarter net income for Whirlpool totaled $205 million, a whopping 163 percent increase over last year’s second-quarter. While net sales did grow 9 percent to $4.5 billion in the quarter, cost-reduction and productivity initiatives also played a key role. Gross margin rose 350 basis points to 16.8 percent, and selling, general and administrativeMore »

NRF Urges House GOP to Support Job Creation

NRF Urges House GOP to Support Job Creation

WASHINGTON–The National Retail Federation has told Republican Party leaders in the U.S. House of Representatives that the U.S. Congress must pass legislation to encourage job creation. Matt Shay, NRF’s president and chief executive officer, was among executives from a number of business associations who met with John Boehner, R-Ohio and the House minority leader, inMore »

Trend Forecasters Slated for Las Vegas Market

Trend Forecasters Slated for Las Vegas Market

LAS VEGAS—The upcoming Las Vegas Market will include a series of seminars from noted trend forecasters throughout the week of the market, Aug. 2-6. On Aug. 2 from 9 to 10:30 a.m., Julie Smith Vincenti, president and manager of Nine Muses Media, will discuss trends and preview some of the products to be seen atMore »

U.S. Retail Sales Slip in June

U.S. Retail Sales Slip in June

WASHINGTON—Sales at the nation’s retailers declined 0.5 percent last month, to a seasonally adjusted total of $360.2 billion. The overall performance included a 1.1 percent drop in sales and furniture and home-furnishings stores to $7.5 billion. Sales at general-merchandise stores increased 0.2 percent to $50.4 billion, which included a 1.1 percent rise in sales atMore »