"Consumers are being hit by a perfect storm of events," said Craig Johnson, president of advisory firm Customer Growth Partners. Kohl's Corp on Thursday said sales in January were "significantly" lower than expected as shoppers stayed away, and the department store chain lowered its profit forecast.
"Consumers are being hit by a perfect storm of events," said Craig Johnson, president of advisory firm Customer Growth Partners. Kohl's Corp on Thursday said sales in January were "significantly" lower than expected as shoppers stayed away.
Jan 9- Discount store operator Fred's Inc said it hired advisers to explore strategic options following disappointing sales during the holiday season. "Fred's 2013 fourth quarter promotional strategy, which was centered on Black Friday, did not produce the incremental gains we expected," Chief Executive Officer Bruce Efird said in a statement.
Costco Wholesale Corp said sales at stores open at least a year rose 2 percent, below the 3.3 percent increase analysts were looking for, according to Thomson Reuters. Costco shares were down 1.9 percent in morning trading.
NEW YORK, Dec 5- Several major U.S. retailers posted disappointing sales for November after cautious shoppers pinched their pennies at the start of a shorter holiday season. Costco Wholesale Corp on Thursday said sales at stores open at least a year rose 2 percent, below the 3.3 percent increase analysts were looking for, according to Thomson Reuters.
Nov 7- Costco Wholesale Corp and Victoria's Secret parent L Brands Inc were among the major U.S. retailers to report same-store sales gains for October, but many chains expressed caution heading into the holiday season.
NEW YORK, Oct 10- U.S. shoppers remained cautious in September, gravitating toward bargains as their confidence took a hit from political strife in Washington and slow job growth, just weeks ahead of the start of the holiday season. L Brands Inc said on Thursday sales at stores open at least a year grew 1 percent, missing Wall Street estimates of a 2 percent gain.
NEW YORK, Oct 10- U.S. shoppers continued to show caution in their spending in September, gravitating toward bargains, as political strife in Washington and slow job growth hurt their confidence with the start of the holiday season just weeks away.
Data from Europe and China are looking up. These figures support the thesis that the U.S. recovery is a help to China, and is even trickling down to Europe.
A group of large US retailers reported higher sales for July, but had to resort to bargains to lure shoppers who are still careful in their spending while the job market recovers.
Costco Wholesale reported June same-store sales that beat analysts' estimates, while L Brands sales came in lower than expected.
Who would have thought Fed chief Ben Bernanke's comment about "highly accommodative policy" would cause this kind of rally? Now, there are a clutch of angry traders.
Major retail chains reported sales increases for May that were generally in line with Wall Street's expectations, suggesting consumer spending continues to improve moderately.
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.
U.S. mortgage finance company Freddie Mac is suing more than a dozen banks for losses from the alleged manipulation of the benchmark interest rate known as Libor.
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.
Bon-Ton Stores Inc. 3.7 pct. Stage Stores Inc. 6.5 pct. Costco Wholesale Corp. 7 pct.
By Rick Rothacker and Jed Horowitz. Oct 12- Wells Fargo& Co's. The No. 4 U.S. bank by assets has expanded in mortgage lending while others such as Bank of America Corp.
Oct 12- Wells Fargo& Co reported record quarterly profit on Friday on a surge in mortgage lending, but revenue and a key banking measure fell short of analysts' estimates, sending shares down 3.3 percent. Wells Fargo posted third-quarter earnings of 88 cents per share, topping the analysts' consensus estimate of 87 cents, according to Thomson Reuters I/B/E/S.
Oct 12- Wells Fargo& Co reported a 22 percent increase in its third-quarter profit on Friday on a surge in mortgage lending, but fell short of analysts' revenue estimates. Wells Fargo posted earnings per share of 88 cents, topping the analysts' consensus estimate of 87 cents, according to Thomson Reuters I/B/E/S.