Financial News

CHICAGO — Thanks to a last-minute shopping rush, Christmas 2011 likely will outpace its prior-year counterpart. According to a report released Wednesday by ShopperTrak, consumers spent approximately $44 billion in retail sales for the week ended Dec. 24, a 37.8% increase over the previous week and a 14.8% gain over the same week last year.

Foot traffic also was high, increasing 32.4% from the previous week.

The last-minute sales increase ensured this December will outpace December 2010. Month-to-date figures are up 4.7% over December 2010.

NEW YORK — Retailers will report weak December front-end sales growth across the drug channel as continued inflation likely was offset by the slow start to the flu season and disappointing overall traffic and volume growth, Credit Suisse research analyst Ed Kelly suggested in a note published Tuesday.

"While drug stores have been fairly successful passing through product cost inflation at the shelf, our Nielsen Trend Tracker shows that volumes have decelerated in recent months given the weak consumer and normal price elasticity," he wrote.

Awareness around the benefits of krill oil versus fish oil — being just as effective with a lesser amount and the possibility that krill oil may leave more EPA and DHA in the body to be absorbed, according to two clinicals published in 2011 — may be a hot topic in 2012. The revitalized Schiff company will be increasing its support of its MegaRed krill oil supplement to as much as 24% of sales in 2012. And Pharmavite in 2011 launched its NatureMade Krill Oil as a new source of omega-3 fatty acids coupled with the antioxidant astaxanthin.

Whether it’s creating beachy waves, sexy curls or modern ponytails, women aren’t shying away from styling their best fashion accessory: hair. 


Sales of styling products are on the upswing, according to the data provided by SymphonyIRI. The market research firm reported that for the 52 weeks ended Nov. 27 at food, drug and mass (excluding Walmart), sales of hair spray/spritz rose just shy of 1% to about $418.8 million, while sales of hair-styling gel/mousse rose 1.8% to about $642.7 million.


BELLPORT, N.Y. — Perfume and fragrance retailer Perfumania announced Friday that it will acquire Parlux Fragrances in a deal valued at $170 million.

Parlux, based in Fort Lauderdale, Fla., manufactures and distributes fragrances and beauty products, and is one of Perfumania's largest trading partners.

"Parlux brings a wealth of products and expertise as a licensee, manufacturer and international distributor," Perfumania CEO Mike Katz said.

The deal is expected to close in the first half of 2012.

“I want to lose weight.” That’s been one of the top four New Year’s resolutions for the past decade, according to a recent survey conducted by FC Organizational Products, makers of “To-Do” lists. However, more people every year are resolving “to become more physically fit,” which goes a long way to explaining why ready-to-drink nutritional shakes and meal replacement bars are hotter than diet aids right now. 


The market for meal replacement ready-to-drink shakes is expanding beyond the need for a shake-shake-sensible-meal diet plan, or the need for a protein booster, with a number of niche marketing opportunities.


The recession has taken a toll on the pet category, according to some companies. A recent report from Cascadia Capital revealed that 35% of consumers said they curtailed pet expenditures in 2011 due to the economy. Spending on pets is expected to hit the $50 billion mark in 2011, an increase of 5% over 2010, according to the American Pet Products Association. Packaged Facts predicted that the industry will grow 5.9% in 2012.