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Sales Fall

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BUSINESS
June 22, 2012 | By Tiffany Hsu, Los Angeles Times
Sales of existing homes slid 1.5% in May compared with April but were up substantially from a year earlier, and property prices climbed, the National Assn. of Realtors said. Last month, resales slipped to a seasonally adjusted annual rate of 4.55 million, down from 4.62 million in April but up 9.6% from May 2011, the group said. The median price soared to $182,600, up 7.9% from a year earlier, marking the third consecutive month with a year-over-year gain — the first trifecta since 2006.
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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.
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BUSINESS
November 13, 2013 | By Andrew Khouri
Bay Area home prices rose last month in the increasingly expensive region, while sales fell from a year earlier. The median sales price in the nine-county San Francisco Bay Area increased 1.8% from September to reach $539,750 in October, research firm DataQuick said Wednesday.  Home prices are now 29.7% higher than last year. Buyers scooped up 7,595 existing and newly built houses and condos last month, 3.9% fewer than last year. Sales jumped 6.4% from September. Quiz: Test your knowledge of California's economy Distressed sales continued to decline last month.
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
September 10, 2010 | By Alex Pham, Los Angeles Times
Sales of video games and consoles fell 10% in August, dropping to the lowest level in four years, as recession-weary consumers, coupled with seasonal summer doldrums, curtailed spending. Players spent $818.9 million last month on games and the accompanying hardware to play them, down from $910.3 million a year earlier, according to NPD Group Inc., a market research firm. It was the lowest monthly sales for August since 2006, said Anita Frazier, NPD's game analyst. Sales of game software dropped a punishing 14%, to $403.
BUSINESS
June 21, 2012 | By Tiffany Hsu
Sales of existing homes dipped 1.5% in May from April but are up substantially from a year ago, along with property prices, said the National Assn. of Realtors. Last month, resales slipped to a seasonally adjusted annual rate of 4.55 million from 4.62 million in April but were up 9.6% from May of 2011, according to the report . The median price soared 7.9% to $182,600 from a year ago, marking the third year-over-year gain in a row - the first trifecta since 2006. Analysts from Credit Suisse called the firming prices - now at the highest level since June 2010 - “the silver lining” of the report.
BUSINESS
December 24, 2009 | By Alejandro Lazo
Sales of new homes in November took an 11.3% plunge, a sign of just how dependent the fragile housing recovery has become on government subsidies. The sales drop from October points to consumer uncertainty over a first-time home buyer tax credit that was initially set to expire Nov. 30. Federal lawmakers last month extended it through April 2010 and revised it to include some buyers who already own a house. But the extension didn't come in time to entice purchasers to commit to entering into new-home contracts that could take weeks to close.
BUSINESS
June 19, 2012 | By Tiffany Hsu
Drugstore chain Walgreen Co.'s deal Tuesday with European pharmaceutical, health and beauty giant Alliance Boots is one best described with words such as “largest,” “biggest” and “most.” Walgreens, the biggest U.S. player in its sector, is spending $6.7 billion in a cash and stock deal to buy a 45% stake in Boots, the market leader across the Atlantic. Boots had been purchased in 2007 for what was then $22 billion - still the largest leveraged buyout ever in Europe - by its largest shareholder along with an equity firm.
CALIFORNIA | LOCAL
January 1, 1995 | Associated Press
New home sales fell 2.5% in November, the first drop in five months as rising borrowing costs dampened consumer demand. The Commerce Department also said Friday that sales activity was much weaker in the August-October period than previously reported.
BUSINESS
July 24, 2001 | Bloomberg News
Computer Associates International Inc. said it had a fiscal first-quarter loss after the way the company charges for software caused sales to fall. The loss in the quarter ended June 30 was $342 million, or 59 cents a share, compared with profit of $23 million, or 4 cents, in the year-earlier period, and sales fell to $713 million from $1.14 billion a year earlier, the company said.
BUSINESS
February 12, 2014 | By Andrew Khouri
Southern California home buyers continue to turn their backs on an expensive market with few houses for sale. Home prices fell 3.8% in January compared with December, though the median price remained up sharply compared with January of last year, research firm DataQuick reported Wednesday. The price decline, coupled with falling sales, revealed a market that has lost momentum after an explosive price run-up in the first half of 2013. "Buyers are not overpaying," said Broker Derek Oie, owner of Century 21 the Oie Group in the Inland Empire.
BUSINESS
January 16, 2014 | By Andrew Khouri
California home sales plunged to a six-year low in December, while home prices rose, indicating a meager supply of homes on the market. Buyers across the Golden State purchased an estimated 34,949 new and resale houses and condos last month, 12.1% fewer than a year earlier and the lowest level for a December since 2007, research firm DataQuick said Wednesday. Prices, meanwhile, rose 1.4% from November to $365,000 last month. The state's median - the point at which half the homes sold for more and half for less - was 22.1% higher than in December 2012.
BUSINESS
December 17, 2013 | By Andrew Khouri
Southern California home sales plunged in November as prices stayed flat, continuing a cooling trend that started this summer. But experts expect a jolt in prices soon. Home prices "will start rising again in the spring, because that's when demand heats up," said Christopher Thornberg, founding partner at Beacon Economics. The regional median home price, $385,000 in November, has stayed essentially the same since June after a rapid run-up in prices in the first half of this year, according to San Diego research firm DataQuick.
BUSINESS
November 20, 2013 | By Andrew Khouri
Existing home sales fell nationwide in October, a decline a trade group attributed to tight inventory and declining affordability. Sales of previously owned single-family houses, town homes, condominiums and co-ops fell 3.2% from September to a seasonally adjusted annual rate of 5.12 million, the National Assn. of Realtors said Wednesday.  It was the second-consecutive month of declines. “The erosion in buying power is dampening home sales,” Lawrence Yun , the association's chief economist said in a statement.
BUSINESS
November 13, 2013 | By Andrew Khouri
Bay Area home prices rose last month in the increasingly expensive region, while sales fell from a year earlier. The median sales price in the nine-county San Francisco Bay Area increased 1.8% from September to reach $539,750 in October, research firm DataQuick said Wednesday.  Home prices are now 29.7% higher than last year. Buyers scooped up 7,595 existing and newly built houses and condos last month, 3.9% fewer than last year. Sales jumped 6.4% from September. Quiz: Test your knowledge of California's economy Distressed sales continued to decline last month.
BUSINESS
November 6, 2013 | Ken Bensinger
A deal to sell the Riverside Press-Enterprise to the owner of the Orange County Register may be in jeopardy less than a month after it was announced. On Oct. 10, Aaron Kushner, owner of the Register, said he would buy the Inland Empire's largest newspaper for $27.25 million, adding it to his fast-growing stable of Southern California dailies. But a filing by A.H. Belo Corp., the Press-Enterprise's current owner, casts doubts on the deal. Originally slated to close Oct. 15, the sale has been extended to Nov. 15, according to the Monday filing to the Securities and Exchange Commission.
BUSINESS
January 29, 2008 | From Times Wire Services
Creative Technology, whose music players compete with Apple Inc.'s iPods, said Monday that its fiscal second-quarter profit and sales declined after it failed to win customers with price cuts. Net income fell to $7.63 million, or 9 cents a share, from $10.1 million, or 12 cents, for the year-earlier quarter, ended Dec. 31. Sales fell 19% to $262.5 million. The Singapore company cut prices of its Zen media devices by as much as half to revive sales amid waning consumer demand.
BUSINESS
April 2, 1997 | (Bloomberg News)
Chrysler Corp. said its U.S. sales fell 3.4% in March from a year ago, matching expectations. The auto maker said car sales dropped 8% to 74,126, despite an incentive program for its dealers. Chrysler's results, coupled with lower sales posted by Honda Motor Co., matched estimates projecting industrywide U.S. sales would fall 2% to 3% in March from strong year-ago levels. Honda said its sales fell 6.6% in March to 79,490, including the Acura luxury division.
BUSINESS
October 28, 2013 | By Andrew Khouri
Signed contracts for previously owned homes fell sharply in September, an indication the rising cost of housing has sapped demand, according to a trade group.  The National Assn. of Realtors said Monday that its pending sales index fell 5.6% from a downwardly revised figure in August--the fourth consecutive monthly decline. Pending sales--which represent contracts signed, but not closed--reached the lowest level since December 2012. “Declining housing affordability conditions are likely responsible for the bulk of reduced contract activity,” the Realtors' chief economist Lawrence Yun said in a statement.  QUIZ: How well do you understand the Fed stimulus?
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