Specialty Retail
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Feb 28- Barnes& Noble Inc reported a net loss for the holiday quarter, hurt by a sharp decline in sales in its Nook device and e-books business as well as lower sales at its bookstores and college bookstore chain.
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Feb 28- Barnes& Noble Inc reported a quarterly net loss on Thursday, hurt by a sharp decline in sales in its Nook device and e-books business, as well as lower sales at its bookstores and college bookstore chain.
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*Qtr loss per share 18 cents vs year-ago profit 71 cents. Feb 28- Barnes& Noble Inc reported a net loss for the holiday quarter, hurt by a sharp decline in sales in its Nook device and e-books business, at the same time that Chairman Leonard Riggio is trying to buy the company's profitable bookstore unit.
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CNBC's Courtney Reagan offers a preview of the retailers reporting quarterly earnings next week; and Liz Dunn, Macquarie Capital senior analyst, and Jan Kniffen, Worldwide Enterprises CEO, provide perspective.
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Next week is the biggest one of the earnings season for the retailers. While each will have different nuances, and wrap up the key holiday quarter, Wall Street will be focused on the sales forecast for the current quarter.
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After a morning filled with false starts and confusion, office supply retailers Office Depot and OfficeMax on Wednesday announced a deal approved by the boards of both companies.
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Office supply retailers Office Max and Office Depot are near a merger that could be announced this week, according to people familiar with the matter.
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Retailers say much of the demand for ammunition is from gun owners who are stockpiling in case certain weapons are banned.
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Retail sales barely rose in January as tax increases and higher gasoline prices restrained spending. Separately, import and export prices rose slightly less than expected in the month.
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Retailer J.C. Penney increased its borrowing capacity under a bank credit facility by $100 million to $1.85 billion and expanded an option to borrow more at a later date, raising concerns among analysts as it works on a turnaround.
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*January sales at Macy's, Target, Costco exceed Wall Street views. *Kohl's beats but does not raise profit forecast. Macy's Inc, whose shares rose 0.4 percent, was an exception.
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*January sales at Macy's, Target, Costco exceed Wall Street views. Macy's Inc said sales at stores open at least a year rose 11.7 percent last month, easily beating forecasts, as the company benefited from its speed in getting new merchandise into its stores. Macy's shares were up 3 percent in early trading.
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Costco Wholesale Corp said January sales at stores open at least a year, or same-store sales, rose 4 percent, slightly ahead of Wall Street projections for a 3.9 percent gain. Other retailers reporting stronger-than-expected sales were the teen-oriented Zumiez Inc, which raised its profit forecast, and department store chain Stage Stores Inc..
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*Sears Canada in the middle of turnaround plan. TORONTO, Jan 31- Sears Canada, which is struggling with shrinking sales and the looming arrival of Target Corp on the Canadian retail scene, said on Thursday it was laying off 700 workers as part of a plan to "right-size" the operation.
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The National Retail Federation forecast includes sales at most traditional retail categories including non-store, auto parts and accessories stores, discounters, department stores, grocery stores, and specialty stores, and excludes sales at automotive dealers, gasoline stations, and restaurants.
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Lululemon Athletica had a few missteps during the crucial holiday season but sees no reason to start discounting its athletic apparel, CEO Christine Day told CNBC.
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Retailers should be buzzing right now with holiday gift card redemptions. But, there's early evidence retailers aren't getting much of a boost from gift cards this year, according to NBG Market Analyst Brian Sozzi.
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The latest batch of retail sales reports shed light on who the retail winners are right now.
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Christmas 2012 is now history but retailers are hoping that you aren't done with your holiday shopping quite yet. NBC News reports.
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While chains like Wal-Mart Stores Inc and Gap Inc are thought to have done well, analysts expect much less from the likes of book seller Barnes& Noble Inc and department store chain J. C. Penney Co..