February 2, 2012 |
Attracted by heavy winter sales and promotions, shoppers headed to the malls in January as retailers worked to clear their shelves in advance of the coming spring. Major chain stores posted an impressive 4.2% sales increase in January compared with the same month a year earlier, handily exceeding analysts' expectations of a modest 2% rise. Discounters and apparel sellers especially posted healthy sales increases, according to Thomson Reuters' tally of 20 retailers. Top performers were a mixture of high- and low-end stores.
February 16, 2011 |
Consumers are hoping to cash in on last week's state Supreme Court ruling that it's illegal for retailers to ask customers for their ZIP Codes during credit card transactions, except in limited cases. More than a dozen new lawsuits have been filed against major chains that do business in California, including Wal-Mart Stores Inc., Bed Bath & Beyond Inc., Crate & Barrel and Victoria's Secret. More filings are expected in the coming weeks. The flurry of litigation stems from a decision last week against Williams-Sonoma Inc. in which the state high court ruled unanimously that ZIP Codes were "personal identification information" that merchants can't demand from customers under a California consumer privacy law. That decision sparked lawsuits, mostly in San Francisco and Los Angeles courts, that seek class-action status and compensation for affected shoppers.
August 30, 2012 |
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.
December 26, 2012 |
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.
October 4, 2012 |
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.
August 19, 2012 |
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.
November 12, 2012 |
Discount retailer Target Corp. joined the growing throng of merchants kicking off their holiday shopping season on Thanksgiving. Target, which previously declined to confirm speculation it would open stores Thanksgiving night, said Monday that stores would open at 9 p.m., right after most people are finishing turkey feasts. “We thought long and hard about when the right opening time would be,” Kathee Tesija, Target's executive vice president of merchandising, told the Associated Press. She said that 9 p.m. struck “a perfect balance” for its customers.
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.
March 6, 2014 |
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%.