Many U.S. retailers reported stronger-than-expected August sales on Thursday, but they had to use steep discounts to woo back-to-school shoppers.» Read More
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.