Retail Sales


  • Breaking News: Coach Headquarters Fire Thursday, 24 May 2007 | 11:31 PM ET

    The fire that was blazing on 34th Street and 10th Avenue here in Manhattan on Thursday was indeed the same tower that houses the corporate headquarters of Coach at 516 W. 34th St. However, the fire was only a rooftop fire and did not start inside the Coach offices.According to Coach spokesperson Andrea Resnick, the fire was contained to the rooftop, where it was brought under control, and the damage was minimal. All of the company systems are up and fully operational. There were no injuries to Coach employees.

  • Dell PCs to Sell at Wal-Mart; Deal Hurts Chip Stocks Thursday, 24 May 2007 | 3:00 PM ET

    Dell, which has relied mostly on a direct-to-consumer sales model, will start selling computers  through Wal-Mart stores. The deal aroused concerns about possible margin-tightening for chip makers.

  • Contest Finalists: Will Gymboree "Retail" A Winner? Thursday, 24 May 2007 | 2:34 PM ET

    Well, today is the biggest day for our Million Dollar Portfolio Challenge contestants. The trades they execute prior to 4pm will be the last trades that will impact their total portfolio value based on their performance on Friday. Only $22K separates the top three positions. Nancy Beaumont holds first place for the 3rd straight day. Nancy looks like she may maintain her first position with retail company Gymboree. Joe Dondero is losing so far today on his all-in bet on Ansoft. It's down in a rather 'up and down day" on the Street. But like Nancy, 3rd place holder Serge Amelyan is getting the benefit from Gymboree's rise.

  • Contest Stocks: Best And Worst For Past Week Thursday, 24 May 2007 | 1:22 PM ET

    Here's some more contest stock information for you--a look at the week's best and worst so far. Earnings as well as mergers brought out the best and worst in companies. Remember, today is the really big day for trades as the trades executed prior to 4pm today (Thurs) will be the last trades that will impact their total portfolio value based on their performance on Friday.

  • Chinese Taste for Luxury Boosts Richemont Profit Thursday, 24 May 2007 | 12:23 PM ET

    Richemont, the maker of Cartier watches and Montblanc pens, posted a 21% rise in annual net profit to 1.33 billion euros ($1.79 billion) on Thursday as China's economic boom fuelled demand for its luxury goods.

  • Contest Stocks: FMT Comes Full Circle Thursday, 24 May 2007 | 11:24 AM ET

    Hey folks, here's one of our last contest stock reports. And it's somewhat appropriate we do so as we are coming back full circle to the start of the contest with Fremont General once again on the actives list based on their news about its reorganization, selling a unit, and installing new management. Here you go:

  • Barnes & Noble Posts Loss on Charges, But Shares Rise Thursday, 24 May 2007 | 11:15 AM ET

    The retailer said the net loss totaled $1.7 million, or 3 cents a share, compared with a year-earlier profit of about $10 million, or 14 cents a share. Excluding the charges, the bookseller said it earned $6.8 million, or 10 cents a share for the quarter.

  • Second Chance: The "Last Chance" For Traders? Thursday, 24 May 2007 | 10:19 AM ET

    Well, like we said for the Million Dollar Challenge, today's trades will be big for the Second Chance Showdown players. But the players continue to outpace the Million Dollar contestants by over $500K in total portfolio value, though the $M finalists have narrowed the gap. Aric Fanzmeier's portfolio fell back below the $2M mark with a loss on ValueClick and Gamestop but he managed to hold onto first place for the third day. Jacob Swanson moves into second with a $411K gain on Fremont General.  Both Aric and Jacob have bet on earnings for Thursday.

  • Contest: Down To Wire As Nancy B. Holds Lead Thursday, 24 May 2007 | 9:38 AM ET
    Nancy Beaumont

    Good morning everyone. Today--Thursday--is a big day for our contestants. The trades they execute prior to 4pm will be the last trades that will impact their total portfolio value based on their performance on Friday. And, the race at the top gets tighter each day. Only $22K separates the top three positions. Nancy Beaumont holds first place for the 3rd straight day on the 9.75% gain of The Men's Wearhouse. Nancy looks like she may maintain her first position with Gymboree up almost 10% in extended hours.

  • CNBC's Domm: Today's Agenda in the Markets Thursday, 24 May 2007 | 9:06 AM ET

    Former Fed Chairman Alan Greenspan dampened stock performance around the world with his warning yesterday that China's red-hot stock market will face a sharp decline some day. European markets are lower this morning and Asian markets closed mostly lower overnight. Yet China's Shanghai index shrugged off the comment, closing just 0.5% lower after managing to also hit a new intraday high in a volatile session.

  • AnnTaylor Stores posted lower quarterly earnings Thursday, as a weak assortment of clothes at its still-struggling LOFT chain forced the retailer to take deeper markdowns, hurting margins.

  • Challenge Finalist Tran: No Job Till Contest Ends Thursday, 24 May 2007 | 8:47 AM ET

    Ban Tran says he's so caught up in the excitement of the CNBC Million Dollar Portfolio Challenge, that he's delayed finding a job until he's completely through with the contest. Well, he won't have long--with the contest ending this Friday. Ban is one of the 20 finalists competing for the $1,000,000 prize. So maybe if he wins, he'll delay his job search even longer.

  • Apparel retailer Abercrombie & Fitch said its quarterly profit rose due to higher sales at its namesake, Hollister and Ruehl chains.

  • Portfolio Challenge Finalists: Luchko And Masters Wednesday, 23 May 2007 | 5:00 PM ET

    We have a pair of Million Dollar Portfolio Challenge finalists to "introduce" to you. Stephen Luchko (pictured) is from Swarthmore, Pennsylvania--and a portfolio accountant for The Haverford Trust Company. And Greyson Masters (interview below) is a market research executive and lives in Winchester, Virginia. He says he trades for pleasure. The pleasure may be ending as both have just two days now to get the winning portfolio value for the $1,000,000 prize!

  • Dillard's Misses Sales and Earnings Estimates for Quarter Wednesday, 23 May 2007 | 11:39 AM ET

    Department store chain Dillard's posted a 30% drop in first-quarter profit as sales declined, sending shares lower. Net profit fell to $42.9 million, or 53 cents a share, from $61.3 million, or 77 cents a share, a year earlier.

  • CNBC's Domm: Today's Agenda in the Markets Wednesday, 23 May 2007 | 8:54 AM ET

    Wall Street is signaling a higher open this morning as merger activity continues to be a major catalyst for stocks. Europe's stock markets are moving higher this morning, and Asian stocks finished mostly higher.

  • America: the New World for Luxury Tuesday, 22 May 2007 | 10:15 PM ET

    Wall Streeters don't just want Valentino in their closets; private equity firm Permira Advisers wants Valentino in their portfolio. Time is ticking on the open window for Permira to purchase the 24% stake in Valentino owned by Italy's Marzotto family (of the well-known fabric manufacturing house). Permira has until May 28 before their exclusivity agreement with Valentino Fashion Group expires. Permira already acquired a 29.6% stake in Valentino last week, but reportedly has been locked in a bidding war with rival p.e. firm Carlyle.Is there any category that private equity money can't or won't buy into these days? (With €11 billion in capital, Permira is the fifth largest buyout firm and 30% of their holdings are in the retail/consumer space.)

  • Profiting from High Gasoline Prices Tuesday, 22 May 2007 | 2:48 PM ET

    Gasoline prices are soaring -- but one "Morning Call" guest says the best revenge is investing well. Rob Cox, U.S. editor of Breaking Views, joined CNBC's Mark Haines to talk about "the middle squeeze" at the pump -- and how to play it.

  • CNBC's Domm: Today's Agenda in the Markets Tuesday, 22 May 2007 | 8:55 AM ET

    Today could be the day the S&P 500 sets a new closing high if pre-opening activity holds as a barometer. The Richmond Fed survey is the only data point due on a day that is already thick with deal activity. European markets are mixed and Asia was mostly higher.

  • The Million Dollar Challenge: Who's Ahead Right Now Monday, 21 May 2007 | 3:50 PM ET

    It's five days and counting until the end of the CNBC Million Dollar Portfolio Challenge contest--with a prize on the line of $1,000,000. We have 20 finalists in the running for the money--and thousands more competing in the Second Chance Showdown for a Sony Home Theatre Entertainment System. The players have until close of trading this Friday to create the portfolio with the biggest value.