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BUSINESS
May 14, 2008 | Glenn Somerville, Reuters
U.S. retail sales excluding cars were surprisingly strong in April, showing that consumers were still willing to add spending punch to the economy despite soaring food and energy prices, a government report showed Tuesday. The report echoed recent data that implied underlying economic durability, including fewer job losses in April than had been feared and a surprisingly strong pace of first-quarter productivity that buoyed hope for corporate profits. The Commerce Department said retail sales declined 0.2% but excluding cars, sales rose 0.5%.
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BUSINESS
March 13, 2014 | By Tiffany Hsu
With the first hint of spring sunshine last month, shoppers began emerging from hibernation, fueling hopes that a particularly bitter winter was to blame for the sour economic signals of recent months. Retail sales rose 0.3% to $427.2 billion in February from the previous month, marking the first increase in the gauge since November, according to the Commerce Department. The measure is considered a key indicator of economic health because consumer spending accounts for more than two-thirds of economic activity.
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ENTERTAINMENT
July 11, 1998 | DONALD LIEBENSON, SPECIAL TO THE TIMES
One of the most tragic and disturbing moments of American history can soon be yours to watch and review in your own home. Next week, the public will be able to purchase for the first time on video an authorized, newly restored copy of one of this century's most infamous film sequences, the home movie footage of President John F. Kennedy's assassination. "Image of an Assassination: A New Look at the Zapruder Film," which will retail for $19.
BUSINESS
March 6, 2014 | By Tiffany Hsu
Weather in February was once again a roadblock for retailers, who said sales figures for the month missed already modest expectations. One gauge from Thomson Reuters found that same-store sales rose 1.8% last month, falling short of a projected 2.8% rise at stores open a year or longer. Without the effect of drugstores, retailers turned in a 0.3% sales increase, the worst showing since a 2.4% decrease in August 2009. Analysts had expected a 1.9% boost. Some segments, however, showed surprising health, or at least the promise of it. The clothing sector, not including Gap, beat estimates by swelling 1.3%.
BUSINESS
February 13, 2009 | Associated Press
Americans bought a sweater or two, ate out a little more, purchased some gadgets and turned to the Internet in search of bargains in January. These small indulgences provided some relief to suffering stores, boosting retail sales 1%. The unexpected increase from December, reported by the Commerce Department on Thursday, reversed a six-month decline and marked the biggest increase in 14 months.
BUSINESS
April 15, 2009 | Associated Press
Wall Street shifted into reverse Tuesday after a surprisingly weak retail sales report deflated somewhat the market's optimism about the economy. The poor sales data, combined with a sharp drop in wholesale prices, overshadowed better-than-expected earnings reports from Johnson & Johnson and Goldman Sachs Group, leading the Dow Jones industrial average down 137.63 points, or 1.7% to 7,920.18. Broader measures also lost ground after three days of gains. The Standard & Poor's 500 index slumped 17.
BUSINESS
November 16, 2011 | Bloomberg News
Retail sales rose more than expected in October as Americans snapped up new Apple iPhones and demand for automobiles improved, giving the U.S. economy a boost entering the final quarter of 2011. The 0.5% gain in October from the previous month followed a 1.1% increase for September, Commerce Department figures showed Tuesday. Economists expected a rise of 0.3% in a Bloomberg survey. Purchases of electronics jumped the most in two years. Consumer spending, the biggest part of the economy, needs to keep growing to bolster the expansion as the European credit crisis threatens to slow sales overseas.
BUSINESS
August 14, 2012 | By Andrew Tangel
Major U.S. stock indexes edged higher after the federal government reported an uptick last month in consumer spending, a major driver of the economy. The Dow Jones industrial average was up 26 points, or 0.2%, to 13,196 shortly after the opening bell on Wall Street. The broader Standard & Poor's 500 index gained 3 points, or 0.2%, to 1,407. The Nasdaq was up 7 points, or 0.2%, to 3,029. Consumer spending increased in July, the U.S. Census Bureau reported. U.S. retail and food-services sales increased 0.8% last month from June, the agency said.
BUSINESS
January 6, 2011 | Reuters
Many top U.S. retailers missed Wall Street's expectations for December sales, hurt by a post-Christmas blizzard on the East Coast and shoppers returning to their cautious ways after flocking to stores after Thanksgiving. Retailers ranging from department store operator Macy's Inc and discounter Target Corp to teen clothing store American Eagle Outfitters were among those whose results fell far short of forecasts. "The turbulence is here to stay," said David Bassuk, a managing director at consulting firm AlixPartners.
BUSINESS
April 16, 2012 | By Don Lee
WASHINGTON -- Forget high gas prices and stagnant incomes. American consumers are spending like the good times are back. Retail sales in March far exceeded analysts' forecasts, growing at a strong 0.8% pace after similarly robust gains in the prior two months, the Census Bureau reported Monday. "Consumers shot the lights out in the first quarter," said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi in New York, in a note to clients. Stocks rose in early trading on the news, but there were some caveats.
BUSINESS
March 6, 2014 | By Tiffany Hsu
Office supply giant Staples Inc. is planning to close as many as 225 North American stores while slashing annualized costs by up to $500 million by the end of 2015. The Framingham, Mass., company, which has been pressured by online competitors such as Amazon.com and is threatened by the merging of Office Depot and Office Max, also said Thursday that sales for the fourth quarter ended Feb. 1 slumped 10.6% to $5.9 billion. The retailer projected that its first-quarter sales would also slide year over year, marking the fifth straight drop for the measure.
BUSINESS
February 13, 2014 | By Don Lee and Tiffany Hsu
The winter economic blues continue. Retail sales unexpectedly fell 0.4% in January from December, the government said Thursday. That was the biggest drop in 18 months and the latest in a series of blah reports on the economy. Sales were “weaker than already low expectations” for flat results, the softness “punctuated by hefty downward revisions to December,” according to Credit Suisse. The bank's analysts said in a note to clients that “at first blush these data appear to be impacted by the frigid weather across the country” and that “February does not offer much hope for relief.” Volatile temperatures may prevent the industry from getting “a clean read on retail demand for quite some time,” according to Credit Suisse.
BUSINESS
February 13, 2014 | By Tiffany Hsu
This year's streak of nasty weather is wreaking havoc on the economy, causing plunging worker productivity, soaring heating bills, canceled flights, damaged crops and frozen hiring. But the bitter conditions, which last month left thousands stranded in Atlanta and this week is pounding the eastern part of the country with snow, have dealt a particularly severe blow to retailers. The tempests couldn't have come at a worse time. In January, as businesses struggled through a weak post-holiday period in a month that already tends to be slow, industry sales slid by their largest margin in 18 months.
BUSINESS
January 8, 2014 | By Tiffany Hsu
Santa slacked off during the holidays, delivering a solidly so-so season for retailers. Shoppers were less impressed and more careful during the season compared with the previous one, doing their research before picking through shelves of uninspiring and often deeply discounted merchandise, according to a flurry of data, estimates and analyst notes released this week. Consumers spent $265.9 billion at stores during November and December, causing sales to rise 2.7% from a year earlier, according to initial results from data firm ShopperTrak.
BUSINESS
December 12, 2013 | By Tiffany Hsu
Retail sales rose more than expected in November as purchases of cars surged and early holiday-season shoppers took advantage of Black Friday deals to load up on electronics and other goods Clothing sales, however, suffered. The Department of Commerce said retail sales last month totaled $432.3 billion, up 0.7% from October and up 4.7% from November 2012. Several forecasts had called for a 0.6% month-to-month increase. The boost from September to October was revised up to 0.6% from a 0.4% upswing.
BUSINESS
December 12, 2013 | By Tiffany Hsu
With holiday spending on clothes and toys off to a chilly start, worried retailers are plying shoppers with an early gift: Black Friday-style bargains extended into the first weeks of December. Merchants get nervous each year during the dreaded early-December shopping lull, when consumers rest their wallets before swarming back into malls at the last minute - if they return at all. But this time, shoppers are splurge-shy, there's a dearth of hot new fashion trends and the key Thanksgiving weekend failed to deliver hoped-for sales.
BUSINESS
December 10, 2013 | By Marc Lifsher
SACRAMENTO -- California's tax revenue came in about 6% below forecasts in November, but state Controller John Chiang dismissed the drop as a fluke of the calendar. Last month's total of $6 billion was $375.6 million under estimates, Chiang said. But, revenue for the first five months of the fiscal year was $31.4 billion, ahead of budget predictions by $228.1 million. QUIZ: How much do you know about California's economy? Meanwhile, state spending since the July 1 start of the fiscal year was down $126.3 million from budget assumptions.
BUSINESS
December 5, 2013 | By Tiffany Hsu
Retailers pulled no punches in November, slashing prices, opening during the Thanksgiving holiday, blitzing online shoppers with deals well before Black Friday and offering perks such as price-matching and free shipping. But all their efforts couldn't keep same-store sales for the month from missing expectations for a 3% year-over-year increase. Instead, the industry posted an anemic 1.9% increase, data firm Retail Metrics reported, calling the disappointing figures “early lumps of coal in retailers' stockings.” The numbers exclude the Gap and Zumiez chains, which are reporting their November after the stock market closes.
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