US RETAIL SALES RISE IN JUNE U .S. retail sales rose at a solid pace last month despite higher prices and modest wage gains. The Commerce Department said that sales at retailers and restaurants increased 0.5 percent in June, following a 1.3 percent gain the previous month. Americans are confident about the economic outlook, with the unemployment rate near an 18 year-low and the economy accelerating after a sluggish start to the year. Retail sales rose 6.6 percent from the previous year, the fastest annual pace in five years. With consumer spending strong, most economists believe that growth will jump to a 4 to 4.5 percent annual rate in the April-June quarter, which would be the strongest in four years. That would follow just 2 percent growth in the first three months of the year.
RESTAURANT BRANDS INTERNATIONAL INC. NAMES NEW CHIEF CORPORATE OFFICER R estaurant Brands International Inc., the parent company of Tim Hortons, has named Duncan Fulton as its chief cor- porate officer, effective immediately. Fulton joins Restaurant Brands International as the company faces a number of issues with disgruntled Tim Hortons fran- chisees on several fronts including the alleged misuse of a national advertising fund and a $700-million renovation plan to spruce up restaurants. Previous to Restaurant Brands International, Fulton was president of Canadian Tire’s FGL Sports Ltd. group until earlier this year where he had previously served as senior vice-president for communications. Fulton also brings a wealth of polit- ical experience as he has served as an adviser and spokesman for former prime minister Jean Chretien.
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SPOTLIGHT ON BUSINESS MAGAZINE • JULY 2018
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