A number of top U.S. retailers reported disappointing April sales as consumers gravitated toward discount chains and bad weather delayed spring shopping in much of the country.
Retailers broadly missed analysts' estimates for same-store sales in March, a month that typically sees cold weather and slow hiring in the early weeks.
After a difficult January, when shoppers first felt the effect of a payroll tax hike that lowered take-home pay by 2 percent, some retailers got a little relief in February from growing employment and a rising stock market.
Many top U.S. retailers reported strong January sales after offering compelling merchandise that drew in shoppers facing a hit to their take-home pay from higher payroll taxes.
Beginning of a divergence? Sales of bonds have been the fuel for the stock market rally. However, stocks have moved sideways in the last few days, but the bond market is not being sold.
Forget the rally; all the headlines were about fears of the looming mini-"fiscal cliff" coming. Let's agree on one thing: get rid of the word "fiscal cliff." So 2012. We need a new term.
While many special dividends have already been paid, Street.com has compiled a small collection of deals.
Stocks ended lower Monday, weighed by a weaker-than-expected manufacturing report and despite new details of a counter-offer from House Republicans to avert the "fiscal cliff."
Take a look at some of Monday's morning movers.
Bon-Ton Stores Inc. 3.7 pct. Stage Stores Inc. 6.5 pct. Costco Wholesale Corp. 7 pct.
CHARLOTTE, N.C.-- Women's clothing company Cato Corp. said Thursday that revenue at stores open at least a year in October was unchanged from last year, and it's slightly more optimistic about profit in its third quarter. The company said total revenue in October rose 3 percent to $64.3 million, and rose 2 percent in the fiscal third quarter to $197.6 million.
The Buckle Inc. -0.8 pct. Ross Stores Inc. 5 pct. Stein Mart Inc. 2.4 pct.
CHARLOTTE, N.C.-- Cato Corp., a women's clothing store, said on Thursday that a key measure of September revenue fell 4 percent, and it said its third-quarter earnings will be at the low end of its guidance.
Retailers reported largely disappointing sales in June, as consumers pulled back on spending amid concerns about jobs and the economy.
S&P futures popped about 5 points as the ADP Employment Change for December came in much stronger than expected, at 325,000 jobs created, well above the consensus of 175,000. This bodes well for the December nonfarm payroll report, out tomorrow.
A new survey conducted by Boston Consulting Group that found more American women, especially professional women, are feeling insecure about their finances.
The disappointing jobs report is stoking fears that another recession may be inevitable, but it is worth considering that there has been some encouraging signs from the retail sector.
Analyst Patrick McKeever of MKM put together a list of his potential takeover targets within the hot retail sector. Click here and check it out.