Home & Textiles Today Staff -- Home Textiles Today, September 26, 2005
NRF Expects Moderate Holiday Gain
The National Retail Federation expects holiday 2005 sales to grow 5 percent to $435.3 billion. Holiday 2004 sales rose 6.7 percent to $414.7 billion.
While energy prices, the job market, disposable income and consumer confidence could affect retailers' sales this holiday season, NRF said, steady consumer spending and strong second and third quarter gains indicate the potential for a solid season.
Target adds import DC in Georgia
Target is building a 2 million-square-foot import warehouse at the Savannah River International Trade Park. Construction is scheduled for completion in the summer of 2007.
Target operates 41 stores in Georgia and a 1.5 million-square-foot distribution center in Tifton. Another DC in Midway is currently under construction.
Wal-Mart Invests In Central American Retail Company
Wal-Mart International has purchased a one-third stake in Central American Retail Holding Company (CARHCO), the leading supermarket and hypermarket chain in Central America.
CARHCO posted 2004 sales of about $2 billion on a store base of 363 units. Its markets include Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica. Wal-Mart said it plans to acquire a majority stake over time.
ShopKo sets merger vote date
ShopKo Stores, Inc. has rescheduled a meeting of shareholders to vote on the proposed merger of the company with an affiliate of Goldner Hawn Johnson & Morrison, Incorporated. The meeting will now take place on Oct. 10.
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