CNBC's Tyler Mathisen looks back at the week's top business and financial stories. A shortened trading week, this week, as Easter is on Sunday. The week ended positive after Janet Yellen reassured investors. Low rates could be around another two years, she said.» Read More
No love from the stock market today, and frankly, not even the most rabid bulls (and I am bullish) can complain. Think about it: September retail sales was even worse than were thought; many retailers lowered earnings: energy stocks lowered earnings yesterday...
Bloodletting was the term one source used. Bad and weak were the most common and perhaps the most descriptive term was anemic. I am referring, of course, to September's same store sales results. Wall street knew that September's sales would be soft but what the Street didn't know was how widespread the results would be.
With so much attention being paid to the kind of power Apple Inc. wields in the music business--trying to control pricing because of its infinitely popular iTunes online music store--there might be a threat even more serious for the rest of the music industry. And that includes Apple.
September same-store sales growth falls to its slowest pace in three years, forcing a number of retailers to cut their third-quarter earnings forecast.
A real food fight breaking out over the September retail sales numbers. No hiding the facts: they were below expectations, which had already been lowered. Men's Warehouse, American Eagle, Target, Limited, Nordstrom, JC Penney lowered earnings; Kohl's said earnings would be at the low end of the range.
US Treasuries fell Thursday after lower-than-expected weekly jobless claims bolstered views of a healthy labor market, lowering expectations of a near-term interest rate cut.
Stocks are squarely in positive ground this morning helped by a surprise comment from Wal-Mart that its earnings will be better than expected this quarter. Chain stores report monthly sales today and expectations have been low. Macy's for instance is down 2.7%, Limited was down 4%, Chico's is down 8.3% and Nordstrom cut its third quarter forecast.
Warm weather left apparel retailers with a lot of unsold suits and sweaters in September. Limited, Chico's, Abercrombie, Gap and Limited missed. Men's Wearhouse cut its forecast for third quarter profits, citing "continued softening in traffic trends."
Balmy temperatures meant a few more weeks of summer, but the warm weather likely put a chill on retail sales.
Costco Wholesale reported a better-than-expected rise in quarterly profit on Wednesday, helped by improved margins, and the No. 1 U.S. warehouse club operator said September sales at stores open at least a year were stronger than Wall Street forecasts.
The European stock indexes closed mixed Wednesday as declines in the price of oil dragged energy stocks into the red, matching losses in banking shares.
She's dressed former First Ladies Nancy Reagan and Jackie Kennedy and is a favorite of starlet Renee Zellweger, but designer Carolina Herrera says she would like to do a mass-market line, much like the one her friend Vera Wang recently created for Kohl's.
Supermarket group J. Sainsbury, the subject of a 10.6 billion pound ($22 billion) proposed bid, saw its growth slow in the second quarter as Britain's wettest summer on record dampened spending.
U.S. retailers are touting holiday deals and discounts earlier than ever this year, but the efforts may fall flat as consumers expect to start shopping for this crucial season later than ever, according to a survey released Tuesday by NPD Group.
I've already debated here whether Roger Clemens was worth it for the Yankees, but now that we know his season is over, as is the Yankees' for that matter, we can give you the final tally on the Rocket's financials. Clemens joined the Yankees on May 7 of this year, but the clock started ticking on June 9 when he got called up. Since the Yankees season is based on 182 days, that means Clemens salary of $28,000,022 was prorated to 115 days. Based on this, Clemens received a total of $17,690,413 for the season.
We're headed into the holiday shopping season and this one will carry a familiar tune from Nintendo: shoppers looking to deck their dens with a new Wii may be out of luck. Again. The New York Post reports another round of Wii shortages on tap during this year's fourth quarter, even as the company has sold 11 million of these consoles worldwide.
Wall Street bonuses are expected to drop as much as 40% this year. Will sales at luxury stores including Coach (COH) and Tiffany (TIF) take a hit?
Apple shares continue to take off, thanks to news nuggets here and there about the better-than-expected iPhone sales success. In fact, shares are so high that rumblings of an impending stock split are coming back, even though CEO Steve Jobs was pretty clear at his shareholders meeting earlier this year, offering up props to the Google no-split stock-price strategy (Eric Schmidt sits on Apple's board) and steering investors away from the idea of any kind of split.
Agribusiness giant Cargill said this weekend it is recalling about 844,812 pounds of frozen beef patties due to possible E. coli contamination after investigators found four cases of illness linked to a division of Wal-Mart Stores in Minnesota.
Private equity firm Apax Partners is preparing to float U.S. clothing label Tommy Hilfiger with a price tag of up to $3 billion, the Financial Times said on Saturday.