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BUSINESS
May 31, 2012 | By Shan Li
Despite slower job gains and signs of flagging consumer confidence, consumers hit the malls in May to refresh their wardrobes as the summer shopping season begins. Major chain stores posted a 3.9% sales increase in May compared with the same month a year earlier, beating analysts' expectations of a 3.6% rise, according to Thomson Reuters ' tally of 18 retailers. Top performers were a mixture of high- and low-end stores. Action-sports chain Zumiez Inc. led the way with a 13.7% bump.
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BUSINESS
August 30, 2012 | By Shan Li
Shoppers hit the malls for back-to-school shopping in August and handed retailers a healthy boost despite continued worries about the job market and a sluggish economy. Major chain stores posted a 3.6% sales increase in August compared with the same month a year earlier, outpacing analysts' expectations of a 2% rise, according to Thomson Reuters ' tally of 16 retailers. "Consumer spending increased for the first time in three months," said Chris Christopher, an economist at IHS Global Insight, "providing evidence that after hunkering down for two consecutive months there are signs of life on the consumer front.
BUSINESS
December 26, 2012 | By Tiffany Hsu
Shoppers waylaid by "fiscal cliff" fears and winter storms spent sparingly in the months before Christmas, according to new data, but retailers are still holding out for a post-holiday bump. From Oct. 28 through Dec. 24, sales of items such as clothing, home goods and electronics rose 0.7% compared with the same period last year, according to the MasterCard Advisors SpendingPulse report. In 2011, spending rose 2%, more than double this year's pace. The last two months' performance, which also includes online sales, was the worst since 2008, according to the report.
BUSINESS
October 4, 2012 | By Shan Li
After splurging on back-to-school, shoppers took a break from the malls in September in advance of what is expected to be a decent holiday season. Major chains posted a 0.8% increase in retail sales in September compared with the same month a year earlier, slightly below analysts' expectations of a 1.6% rise, according to Thomson Reuters' tally of 19 retailers. "The holiday season will be a solid success but won't have numbers off the charts," said Barbara Kahn, director of the Jay H. Baker Retailing Center at the University of Pennsylvania.
IMAGE
August 19, 2012 | By Caroline Ryder, Los Angeles Times
We asked PacSun Chief Executive Gary Schoenfeld and Hot Topic Vice President Cindy Levitt what's hot for back-to-school this season. Clearly, denim is still the top-of-the-closet favorite. Hot Topic The look: Skinny jeans in black or red or deconstructed. Combat boots paired with a dress, tights, a hoodie and a little jacket. A backpack. Emerging: Panel-leg skinny jeans. Vests. Studs, spikes and pins to DIY-embellish backpacks and vests. Classic rock, Iron Maiden and Black Sabbath.
BUSINESS
October 5, 2012
Stocks are opening mostly higher on Wall Street following an encouraging report on the labor market and better sales from retail chains. The Dow Jones industrial average rose 35 points to 13,530 shortly after the opening bell Thursday. The Standard & Poor's 500 index rose four points to 1,454 and the Nasdaq composite edged down one point to 3,134. The number of Americans seeking unemployment benefits rose to 367,000 last week, fewer than economists had been expecting. The yield on the benchmark 10-year Treasury note rose to 1.64 percent from 1.62 percent late Wednesday.
BUSINESS
October 10, 2013 | By Tiffany Hsu
Retail sales during the prime back-to-school shopping month of September grew more than the prior month but were still muffled by heavy head winds. The gauge of same-store sales, which calculates sales at stores open for more than a year, rose “a modest” 4% compared to September 2012, according to Retail Metrics Inc. But Ken Perkins, president of the research firm, had projected a 4.1% upswing. Without the strong performance of drugstores -- Walgreens' sales soared 7.4% last month -- the retail sales measure increased 2.8%.
BUSINESS
July 5, 2010 | By Sandra M. Jones
As Americans' love affair with shopping cools, retailers are venturing overseas in search of growth. Bloomingdale's and Crate & Barrel each opened their first store outside the U.S. in Dubai this year. Abercrombie & Fitch just opened its first store in London. Sears has begun shipping tools and clothing to 90 countries. Macy's is looking at going into China. And Target, the discount chain that for a decade has resisted Wall Street pressure to expand internationally, revealed this spring that it wants to open stores outside the U.S. and is looking at Canada, Mexico and Latin America.
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
November 1, 2013 | By Walter Hamilton and Tiffany Hsu
U.S. food retailers are poised to take a hit as the federal government reduces its $78 billion-a-year food stamp program. Grocery stores and other food retailers have struggled in recent years as consumers battered by high unemployment and shrinking wages switched from upscale products to discounted bulk goods and generic brands. Food sales, especially at discounters such as Wal-Mart Stores Inc., could be further crimped by the $5-billion, or roughly 6%, annual cut in food stamps that took effect Friday.
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