"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.
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.
Oct 12- Low interest rates both hurt and helped third-quarter earnings at Wells Fargo& Co, boosting mortgage lending but squeezing core profitability more than analysts expected.
--$138.9 million class A-1 at' AAAsf'; Outlook Stable;-- $866.3 million class A-2 at' AAAsf'; Outlook Stable;-- $1.0 billion class X1 at' AAAsf'; Outlook Stable. Freddie Mac SPC K-015 represents a pass-through interest in the corresponding class of securities issued by FREMF 2011- K15.
Oct 9- Freddie Mac, the No. 2 U.S. home funding company, said on Tuesday it sold $2 billion of reference bills at mixed rates and mixed demand compared with last week's sale of similar maturities.
Oct 9- Freddie Mac, the No. 2 U.S. home funding company, said it will sell $2 billion bills on Tuesday. The sale will include $1 billion three-month bills due Jan. 7, 2013, and $1 billion six-month bills due April 8, 2013. Bids will be accepted from authorized dealers until 9:45 a.m. EDT.
*Fiscal 2013 deficit depends on Congress, fiscal cliff. WASHINGTON, Oct 5- The federal budget deficit for the just-ended 2012 fiscal year shrank by $207 billion from the prior year, but still marked its fourth straight year above $1 trillion, Congress' budget referee estimated on Friday.
NEW YORK-- Summary of revenue at stores open at least a year in September for discount chains, with percentage increase or decrease over the same month last year. These figures are a key indicator of a retailer's health because they exclude revenue at newly opened stores. Costco Wholesale Corp. 6 pct.