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NEWS
August 8, 1990 | MARY ROURKE, TIMES FASHION EDITOR
The store windows show Giorgio Armani suits in a shower of cymbals, headless dummies and asparagus stalks. In the accessories department, expensive jewelry floats in a fish tank or at least it appears to. Fred Pressman, the store president, glides past these surreal sights, wearing his usual uniform: a mismatched suit with brown pinstripe jacket and solid gray pants. This is one of the most famous stores in the world?
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BUSINESS
April 14, 2014 | By Jim Puzzanghera
WASHINGTON -- Retail sales surged last month at their fastest pace in 1-1/2 years as consumer spending heated up after a harsh winter. The Commerce Department said Monday that seasonally adjusted retail sales increased 1.1% in March. Officials also revised February's figure up to a strong 0.7%, from an initially reported 0.3%. Economists had expected a 1% increase last month. PHOTOS: Richest and poorest cities in America "The consumer came in like a lamb and went out roaring like a lion," said Chris Rupkey, chief financial economist at the Bank of Tokyo-Mitsubishi in New York.
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BUSINESS
January 30, 1996 | Times Staff and Wire Reports
Compaq Maintains PC Sales Lead: Personal computer sales grew faster overseas than in the United States last year and Compaq Computer Corp. widened its worldwide lead, the market research firm Dataquest reported. Just less than 60 million PCs were shipped in 1995, up about 25% from 47.9 million in 1994. Growth in 1994 over 1993 was 23.3%. In the United States, 22.5 million PCs were shipped, up 21% from 18.6 million in 1994.
BUSINESS
April 14, 2014 | By Tiffany Hsu
Americans rushed out to shop as frigid weather lifted in March, propelling retail sales at the fastest pace in a year and a half. The gauge from the Commerce Department surged 1.1% last month from February in its biggest leap since September 2012. Sales boomed 3.8% from March 2013. The strong sales, which beat economists' expectations for a 1% increase, bolstered hopes that the economy would continue to gain momentum after struggling through an especially harsh winter. "One month doesn't answer all the questions, and it's not like we have all-over-the-place exploding growth," said NPD Group analyst Marshal Cohen.
CALIFORNIA | LOCAL
January 2, 1996
Regarding "Poor Holiday Season Reported by Retailers," Dec. 27: The result of corporate cutbacks has finally caused consumers to cut back. Did all the corporations think that "increasing productivity" would never hurt them? The "shaky economy" is directly attributed to the firing of hundreds of thousands of workers and white-collar professionals. In addition, lack of salary increases and reliance on a bonus system keeps real wages below inflation. So, now we are downsizing our spending habits.
BUSINESS
July 8, 2011 | By Andrea Chang, Los Angeles Times
Retailers beat June gloom last month, delivering surprisingly strong sales results thanks to lower gas prices, widespread discounting and warm weather, which led many shoppers to hit the stores for summer clothing. With the important back-to-school season next on the retail calendar, consumers gave merchants the kind of month they had been hoping for after a good but not great first half of the year. Combined with better-than-expected labor market data Thursday, the retail report led to a stock market rally and helped lift optimism a day before U.S. employment figures were released.
BUSINESS
July 10, 1998 | From Associated Press
Americans continued their shopping spree in June, the sixth straight month of sales gains for many of the nation's retailers, company reports showed Thursday, thanks to healthy economic times and a surging stock market. Most merchants fared well in June, especially discount and some clothing stores, but there were exceptions. Several big chains, including Sears, Roebuck & Co., Kmart Corp. and J.C. Penney Co.
NEWS
August 13, 1985 | From Reuters
Gains in building materials and general merchandise pushed retail sales to a modest 0.4% increase in July after two months of decline, the Commerce Department said today. The increase to total sales of $113.7 billion last month was the first rise since an increase of 3.1% in April and followed declines of 1.4% in June and 0.4% in May.
NEWS
October 10, 1985 | Associated Press
The nation's major retailers today posted disappointing sales for September compared to the same month a year ago, when sales were heavy because of markdowns. Sears, Roebuck & Co., the largest of the companies, said sales for the five weeks ending Oct. 5 edged up 0.3%. K mart Corp., ranked second, said its sales rose 2.7%, in part reflecting an increase in the number of stores in its chain. No. 3 J.C. Penney Co. said its sales dipped 0.5%.
NEWS
August 7, 1986 | Associated Press
The nation's major retailers today reported improved sales during July, but analysts said the companies resorted to larger-than-usual markdowns to stimulate buying during the normally promotional month. Sears, Roebuck, the largest retailer, said its sales for the four weeks ended Aug. 2 rose 5.5% over the same period last year. No. 2 K mart Corp. said its sales jumped 15.9%. Sales increased 3.4% at J.C. Penney Co., ranked third, and 11.8% at fourth-largest Dayton Hudson Corp.
BUSINESS
April 10, 2014 | By Tiffany Hsu
Retailers had a middling March, watching their sales improve from a frigid February while struggling to beat their performance from the same month last year. Two main factors impeded growth last month, according to several reports released Thursday. Spring weather has been slow to come, leaving shoppers still shivering in cooler-than-usual temperatures. And in March 2013, retailers had the benefit of a revenue bump from Easter, which shifted this year to April 20. In one report, analyst Ken Perkins of Retail Metrics Inc. said March same-store sales rose 3.5% from a year earlier, beating expectations for a 2.5% boost.
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.
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
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, 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
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
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 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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