money

Weathering the Economic Storm

C-store retailers express optimism as financial conditions continue to slowly improve. by Mel Kleiman, Contributing Editor. While we were able to summarize the major findings of the 2012 CSD/Humetrics Human Resources Benchmarking Survey earlier this year, there are a few more interesting facts to share concerning the responses to our first question: “How was the

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Fresh & Easy Slashes Jobs

Despite job cuts, Tesco continues to fight for the future of Fresh & Easy.   Tesco has cut jobs at the Californian headquarters of its struggling Fresh & Easy chain in the U.S, but is still continuing with business as usual, according to Reuters. “In April we said we are taking a more cautious approach

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Retail Gasoline Prices Reverse Higher after Three-month Slide

Brian L. Milne Refined Fuels Editor, Telvent DTN After 13 consecutive weeks moving lower, retail gasoline prices snapped the decline, gaining during the first full week of July. Moreover, retail gasoline prices are in position to again increase, while the July 2nd six-month low in the Energy Information Administration’s (EIA) U.S. average might hold for

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Gas Stations Experience Sharp Decline In Sales

Retail sales are declining across the board, and gas stations receive the biggest blow. Retail sales declined by 0.5% in June, following declines in May and April as more consumers cut spending on goods and services, the U.S. Department of Commerce reported. The biggest decline in sales occurred at gas stations, which is a good

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The Economy Cuts Both Ways on Gasoline

By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices continue to decline as a host of bearish issues arise, while talks this week with Iran and the permanent five members of the United Nations Security Council plus Germany offer the prospect of further easing in the likelihood from this year’s greatest threat

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2012 Farm Bill Hearing Excludes Sugar Reform Discussion

“We are disappointed that the Agriculture Committee denied our request to testify at either of the commodity hearings,” says NCA president. The House Agriculture Committee Subcommittee on General Farm Commodities & Risk Management finished two days of Farm Bill hearings today with no mention of the outdated and costly U.S. sugar program.  The National Confectioners

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Renewable Fuels Hearing Set For This Week

House Subcommittee to hold hearing on renewable fuels liability bill. This Thursday, Chairman John Shimkus (R-IL) of the House Subcommittee on Environment and the Economy will hold a hearing on the “Domestic Fuels Act of 2012” (H.R. 4345), which would provide a legal and regulatory pathway for retailers to sell EPA-approved fuels including E15. Witnesses

Moneystacks

New York Considers Minimum Wage Increase

Small-business owners in New York upset over plan to raise the minimum wage. The New York state legislature is considering increasing the minimum wage in the state by $1.25 to $8.50, and also index it to inflation, the New York Post reported. A spokesperson for Assembly Speaker Sheldon Silver said he is “optimistic” that the

Moneystacks

2012 Gets Off To A Strong Start

“As a traditionally slower sales month for the industry, it’s encouraging to see such sustained growth in consumer spending and sentiment,” says NRF CEO. Building on the momentum of a strong holiday shopping season and propelled by gift card redemptions and warm weather, retailers’ January sales saw solid growth across the board. According to the

fuelnozzle

Retail Gasoline Prices Likely to Bounce Higher on Halloween

As expected, the Energy Information Administration’s US retail gasoline price average fell during the week-ended Oct. 24 following an increase during the previous week, and has now moved lower in seven of the past eight weeks. For the final week of October, we’re likely to see an increase in the average although wholesale gasoline prices

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Tax Savings After the Deadline

With operating costs soaring in a sluggish economy, convenience store owners have a variety of tax benefits available to them from the IRS.  By Mark E. Battersby, Contributing Editor. Earlier this year, the Internal Revenue Service advised taxpayers to cool their heels and wait until mid- to late-February 2011 before filing their returns to allow

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SymphonyIRI Examines Consumer Gas Price Woes

Shoppers battered by the recession are much less willing to absorb high gas prices and increasing store prices. Just as the CPG industry was beginning to show signs of growth, a new hurdle emerged: rising gas prices. With national gas prices 40% higher on average today than a year ago, many shoppers are having difficulty

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Beer Industry Contributes $223.8 Billion to U.S. Economy

“Our industry continues to play an integral role in providing jobs and revenue necessary to heal our recovering economy,” says Beer Institute president. A new Economic Impact study conducted by the Beer Institute and the National Beer Wholesalers Association (NBWA) shows America’s beer industry—made up of brewers, beer importers, beer distributors, brewer suppliers and retailers—directly

Job Outlook Picks Up in 2011

Economists are raising their forecasts for employment growth in 2011, as various job readings are suggesting that the long-awaited hiring boom is arriving or is just around the corner, CNN reported. “It’s about time,” economist Robert Brusca of FAO Economics told CNN. This Friday, the monthly employment report from the Department of Labor, will give

Gas Prices Grow

Gas prices have soared to the highest price of the year, topping $3 a gallon, The Citizens’ Voice reported. For the first time since Oct. 2008, gas prices have risen to an average of $3.05 a gallon in the Wilkes-Barre/Scranton, Pa. area, according to AAA Mid-Atlantic. The national average price of self-serve regular gas sits

Higher Crude Costs Drive Uptrend in Gasoline Prices

By Brian L. Milne, Refined Fuels Editor, Telvent DTN The U.S. average retail price for regular grade gasoline dipped 1.6 cents from a six-month high to $2.876 gallon just ahead of the Thanksgiving holiday, but are again seen moving up with an early week rally in wholesale values. Gasoline prices typically decline this time of

Gas City Files for Bankruptcy

Frankfort, Ill.-based Gas City Ltd., a chain of independent gas stations founded and owned by William McEnery, filed for Chapter 11 bankruptcy protection late Tuesday, Crain’s Chicago Business reported. Founded in 1966, Gas City includes 51 gas stations located mainly in the south suburbs of Chicago, but also in Indiana, Arizona and Florida, and listed

Mintel Predicts Consumer Trends

As the economy slowing recovers, customers are still adapting.  With that in mind, Mintel has predicted nine key consumer trends for the year ahead, examining how long term behavior has been implicated. In 2011, consumers are living for the long term with attitudes inspired by a changed value set. “The effects of the global economic

Shrink Decreases 6.8% in U.S

Global retail theft totaled $107.3 billion in 2010, representing a 5.6% decrease from the prior year (6.8% in the U.S.), according to the fourth annual edition of the Global Retail Theft Barometer. Click here to view the entire study. The study, sponsored by an independent grant from Checkpoint Systems, monitored the costs of shrink (loss

Shell Educates Customers Through Gas Giveaway Promotion

Shell is continuing its efforts to educate consumers about the benefits of using high quality gasolines in their vehicles by giving away thousands of gallons of Shell Nitrogen Enriched Gasolines to drivers coast-to-coast today, Friday, Oct. 15. To ensure consumers have a firsthand opportunity to learn about and try Shell Nitrogen Enriched Gasolines for themselves,

Gasoline Prices Moving Higher in Early October

By Brian L. Milne, Refined Fuels Editor, Telvent DTN Bucking the seasonal trend, retail gasoline prices are moving higher in early October following sharp increases in wholesale costs in a host of major metropolitan markets around the United States. Retail gasoline prices have averaged higher nationally in October compared with September in only two of

Flat Holiday Sales Ahead?

As U.S. consumer confidence cautiously edges upward, The Nielsen Co. predicts consumer holiday spending to closely reflect 2009 spending with flat dollar sales at approximately $89 billion, and flat to declining unit sales, down .15%. “As we approach the holiday season, consumer confidence is up slightly, but below pre-recession levels,” said James Russo, vice president,

TD Economics: No Double-Dip Recession

The storm has ebbed, but the U.S. economic forecast remains overcast, according toTD Economics. “We don’t expect to see any miracles occurring over the next several months…but the evidence appears to be for the gradual unwind of imbalances and a continued slow pick-up in economic activity-and not another descent into recession,” wrote Deputy Chief Economist

Nielsen Polls Customer Gas Buying Habits

As U.S. consumers prepare to hit the road for Labor Day weekend, The Nielsen Co. finds that nearly half (45%) of U.S. households are diligently seeking lower gas prices. The economy has consumers looking for cost savings across the board, even as they revert to some pre-recession habits. “Although gas prices are not as high

Working Americans Report Economic Perceptions

Working Americans report having mixed feelings when it comes to job security, the economy and worker happiness. Short-term job security is improving, but at the same time, more workers fear losing their job some day in the future. More Americans think the economy is on the upswing. But this is still a minority opinion contrasted

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