The "Fast Money Halftime Report" traders dissect the trade on Alibaba on its second day of trading.» Read More
U.S. discounters and department stores reported strong July sales on Thursday, but clothing stores suffered from a slow start to the back-to-school shopping season.
Retailer Home Depot said Thursday that it was in discussions to restructure terms of its previously announced deal to sell its supply unit, and also said it was lowering the price range for a tender offer under which it is buying back stock.
If you're watching CNBC today, you'll see my piece on the battle of shoe brands in China as the Olympics approaches. (You can also see it on CNBC.com right now or in clip below). Anyway, unfortunately there's only so much to fit in in "television time" and I had three great interviews with top executives from Nike, adidas and Li-Ning. So I thought it would only be fair if I could run the best parts of the three interviews in the blog.
The Fed's comments yesterday calmed some of the credit angst in the markets and set the stage for a move higher in global equities. U.S. stocks are positioned to trade higher this morning, and Cisco's strong earnings news is adding some punch to the Nasdaq.
Warner Music Group--as one of the world's largest recording companies--is a pretty good leading indicator for the embattled music industry. With its fiscal third quarter loss growing to 17 million from 14 million last year, let's just say, there's not much hope for the CD business-- new releases aren't selling as well as they used to, and sales are dropping off much faster in following weeks than they ever did before.
Yesterday, I wrote about how a company called Plan B. found out that 71 percent fewer fans showed up on discounted beer night. This surprised me a little bit, but not some readers. From Larry Rascak:Personally I would avoid discount beer night like the plague, simply because I would not want to be at a ballgame (or in the parking lot, or driving home) with the sort of people who would go to a game just to drink a lot of cheap beer. Is this really that big a surprise?
The Bernanke Fed is being put to its first big test as Fed watchers monitor its handling of the credit drama when it releases its statement at 2:15 p.m. The Fed's one day meeting is not expected to end with any adjustment in rates, but traders are hoping for a tweaking of the Fed statement with language that will soothe some of the anxiety about mortgage and credit markets.
British retail sales growth slowed to its weakest rate in eight months in July as exceptionally wet weather and higher borrowing costs kept people away from the shops, a survey showed on Tuesday.
First things first: I'm disappointed. Fake Steve Jobs has been outed and I'm bummed about it. Some mysteries ought to just stay that way. Over the weekend, the New York Times' tech reporter Brad Stone outed Fake Steve as Forbes' Senior Editor Daniel Lyons. So now, as I read the blog, instead of hearing Steve Jobs' voice tell me the words, I hear someone else. Noise. A distraction. Something NOT Steve, but just another writer trying to be Steve. And that's a bummer.
"Massive short squeeze run?" JP Morgan's Charles Grom raises the question of whether we'll see a short squeeze run of retail shares when same store sales are released this Thursday much like we saw last month. If you remember, June's same store sales were not strong by any means rather they were more or less on plan for what is traditionally a weak summer sales season (buyers are on the beach not the in the malls.)
If you're a big fan of Tom Glavine and you are happy he won his 300th game last night, you might as well get his 300th win tie. Oh yeah, it costs $1,000. Tie company Vineyard Vines is making 300 of the ties, which will be sold exclusively at www.rallyfoundation.com. The entire cost of the tie will be donated to the Rally Foundation, which raises awareness and funds for childhood cancer research.
When Kobe Bryant was charged with sexual assault, we saw a few nifty entrepreneurs come up with T-shirts to try to cash in on the news. There were the Kobe Bryant T-shirts were made to look like a jersey, with Kobe's number on it and "Colorado Prison League" on the front. One supporter made a "Free Kobe" shirt. But never in the history of sports have we seen the cottage industry that has become Michael Vick dogfighting T-shirts.
U.S. stocks futures are slightly firmer ahead of the opening in a market still cranky about credit worries and pondering the Fed's next move. European stock markets are mixed after trading lower this morning, and Asian stocks were lower overnight.
Japan's Fast Retailing raised its bid for luxury retailer Barneys New York to $950 million on Sunday, topping the sweetened offer Dubai government-owned Istithmar announced earlier in the day.
Total back-to-school spending is expected to rise 6.9% this year from 2006, though consumer spending on apparel is not expected to rise significantly, as consumers splurged on apparel last year.
With the market as up and down as it is these days, my schedule has been just as much of a rollercoaster ride! I'm behind on responding to some of the interesting notes that have made their way into my retail detail inbox. So this Friday I decided to catch up! Retail detail reader Mark Coleman raised a good question about cause-related marketing and the type of Super Saturday fundraiser events that I wrote about a few days ago.
I know. Why am I talking about this? You thought this was a sports business blog. Well, this week I've been trying to give you something a little bit different as I'm filing from Beijing. (Programming reminder: Next week, we're taking you behind the business of the 2008 Olympic games. You can watch my stories on CNBC or see them here on the Web site.) Anyway, back to my thought.
Global semiconductor sales in the second quarter fell 2% from the previous quarter to $59.9 billion, as falling prices outweighed a 7% rise in total unit shipments, an industry group said on Friday.1st paragraph of story should go here
Here we go again--when it comes to all the speculation swirling around whether Google will jump into the cell phone market, not with new software, but with a handset of its own. To wit, we've already reported the myriad possibilities and puzzle pieces pointing to a possible cell-phone market entry by the search giant
I think that things are going to get worse before they get better in the retail. I took a look at short interest in a few big retail names today and was surprised to see just how many investors were betting AGAINST the stores that cater to the mass market consumer right now.