January 5, 2000 |
Sears, Roebuck & Co. said Tuesday that its fourth-quarter profit will beat forecasts by about 20%, a sign that Chairman Arthur Martinez's strategy to revive the second-biggest U.S. retailer may work. Shares in Sears rose $1.50 to close at $31.56 on the New York Stock Exchange. Martinez last year cut prices on basic clothing such as T-shirts, brought in new managers, and dumped the old "Softer Side of Sears" campaign to try to pull sales out of a two-year slump.
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.
July 8, 2011 |
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.
June 11, 2010 |
Retail sales in May took their biggest dive in eight months, raising fresh doubts about the state of the nation's recovery and the pace of long-term economic growth. Sales in categories as varied as building materials and apparel fell 1.2% from April, according to the monthly report released Friday by the Commerce Department. Compared with the same month a year ago, sales rose 6.9%. The results were seen as troubling to economists because they had been expecting a slight increase from April.
February 13, 2009 |
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.
April 15, 2009 |
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.