August 13, 2013 |
Retail sales rose a smidgen in July, growing 0.2% amid back-to-school shopping even as auto dealers and home goods merchants lagged. The slight month-to-month uptick represents the fourth straight gain, according to the Commerce Department. Wall Street had expected a 0.3% increase. Sales had advanced 0.6% in June, an upward revision. Compared with July 2012, the gauge last month is up 5.4%, according to the government. But the National Retail Federation called the report a “mixed bag for retailers,” saying that the economy appears to be stuck in a rut. “Fiscal and monetary policy uncertainties combined with stagnant economic and employment conditions continue to breed a volatile market with extreme swings in consumer spending,” Matthew Shay, the trade group's chief executive, said in a statement.
August 1, 2013 |
Shares of Sprouts Farmers Market Inc. exploded Thursday at higher-than-expected prices a day after Whole Foods let down Wall Street with its third-quarter financial results. The natural and organic foods retailer ended its first day of public trading at $40.11 a share, up $22.11, or nearly 123% higher than its $18 offering price. That was the biggest gain for an initial public offering since LinkedIn Corp. debuted with a 109.4% first-day increase on May 19, 2011, closing at $45 a share.
July 26, 2013 |
In the biggest cybercrime spree yet, Russian hackers stole 160 million credit card numbers to fleece hundreds of millions of dollars from a diverse group of financial firms, retailers and even the Nasdaq stock market, according to federal officials. Indictments unsealed Thursday in New Jersey and New York accuse five Russians and a Ukrainian of victimizing targets that included arms of Visa, Diners Club, Citibank, PNC Bank and Heartland Payment Systems, a company that processes credit card transactions from hundreds of thousands of small businesses.
July 24, 2013 |
After uninspiring sales in the first half of the year, retailers are hustling to salvage a back-to-school shopping season that has gotten off to a muted start. Parents, worried about the economy and pressed for time, plan to spend less money and do more school-related shopping online, recent surveys show. To chase elusive customers, many retailers are sprucing up their Web portals and offering special Internet deals. For the first time, Wal-Mart Stores Inc. is posting school uniforms on its online Classrooms by Wal-Mart database.
July 19, 2013 |
WASHINGTON - Empty Budweiser beer cans, Arizona iced tea bottles and other debris litter the ground of a largely vacant strip mall in the Skyland neighborhood, an area federally designated as a "food desert" for its lack of grocery stores. Skyland is part of the District of Columbia's Ward 7, where a majority of residents are low-income African Americans and the unemployment rate is 13.9%. A few miles away, the affluent, mainly white Ward 3 has numerous grocery stores and a 2.1% jobless rate.
CALIFORNIA | LOCAL
July 18, 2013 |
Malibu boasts more than 20 miles of coastline, rugged mountains and idyllic oceanfront homes. But for many residents, one of the beach town's greatest charms is what they like to call the "Malibu way of life. " It was a life filled with mom-and-pop stores where you could shop in your bathing suit and pay when you remembered to bring money. It meant having to go into the city - or at least as far as the San Fernando Valley, Santa Monica or Beverly Hills - to shop for all but basic items.
July 15, 2013 |
Retail sales were mixed in June, buoyed by strong auto and furniture sales but tamped down by high unemployment and taxes, analysts said. The overall gauge of sales rose 0.4% from May following a revised 0.5% increase the previous month, according to the Commerce Department. The measure increased 5.7% compared with June 2012. But Wall Street had expected a 0.8% boost, according to Credit Suisse. And a calculation of so-called core sales, which strip out the effects of auto and gas purchases, slipped 0.1% in its first decline in a year.
July 11, 2013 |
A welcome trinity of factors -- perkier job prospects, summer temperatures and more affordable prices -- helped retail sales in June beat expectations. Same-store sales at shops open at least a year -- a measure that strips out the volatility of openings and closings -- rose 4.1% last month from the same period a year earlier, according to Retail Metrics Inc. The surge is the largest since sales swelled 5.1% in January. Retailers had struggled through the spring as they dealt with storms and chilly temperatures and “an economic soft patch,” said the group's president, Ken Perkins.
July 11, 2013 |
A sedate seaside stretch of downtown Santa Monica is about to get busy as a sprawling residential and retail complex and a 6-acre city park are nearing completion along increasingly tony Ocean Avenue. Under development for several years, the two big projects within sight of the ocean are part of a push by officials to enliven the city's Civic Center district south of the Santa Monica Freeway around City Hall. The area has been pretty much a dead zone for decades compared with the bustling commercial district a stone's throw to the north around Santa Monica Pier and the prosperous hotel, retail and residential neighborhood to the south.