Prudential Insurance will take over J.C. Penny's administration and benefit payments to retirees to cut its pension obligation.» Read More
Deborah Weinswig, a top retail analyst at Citigroup, reveals which stocks are worth looking at on this pullback.
Despite those strong sales gains, why aren’t their stocks moving much to the upside?
Retail is a 'lead indictor for the S&P' and the broader market, David Berman, president of the retail-based hedge fund Durban Capital, told CNBC on Wednesday. 'Everyone gets excited about department stores, the problem is that they are really on a long-term death spiral.'
Heading into Thursday's batch of retail sales reports, expectations are high that retailers will report their strongest sales in four years. However, as BJ's Wholesale's report showed Wednesday, there are sure to be some misses here and there.
Bill Ackman, the activist investor whose Pershing Square Capital took a 16.5 percent ownership stake in J.C. Penney last fall, has not been pushing JCP to broadly pursue a transaction to create value, but rather has been engaged with the company in conversations about how it can improve its operations, according to sources.
A new report from MasterCard Advisors' SpendingPulse, which estimates sales across all payment forms, shows strong sales growth in December for apparel and high-end items, including jewelry. Online sales were also very strong, perhaps helped by wet weather in West and a post-Christmas blizzard in the Northeast.
Stocks closed mixed amid thin holiday trading after a couple lackluster economic reports on housing and consumer confidence. Chevron and HP rose, while American Express fell.
Stocks declined modestly amid thin holiday trading and after a couple lackluster economic reports as the Northeast recovered from a huge snowstorm. Caterpillar and Disney fell, while Bank of America rose.
See what's happening, who's talking and what will be making headlines on Monday's Squawk on the Street.
After a rough 2009 that saw the demise of several stores, jewelry merchants have emerged as the shining star of the retail sector this holiday, with chains from tony Tiffany to mass-market Sterling Jewelers posting robust sales gains.
This holiday season, consumers are beginning to shop and make purchases on their mobile phones. The shift from buying presents in front of the computer at home or work to doing it during bus commutes or while standing in line at cafes is small, but, for the first time, noticeable and even significant. Tthe New York Times reports.
He's got his list. And, he's checking it twice. He's not Santa. He's not on a buying spree. Wall Street Strategies Retail Analyst Brian Sozzi has been surfing the malls in and around the New York City metropolitan area. Sozzi, who is rated five stars by Starmine for accuracy, has been doing this every weekend this season.
Here's our tax cut rally. The key point isn't that the tax cuts were extended, it's that the total package is more comprehensive than anyone expected.
In order to attract those precious holiday shopping dollars, JCPenney has worked to satisfy the consumer’s appetite for lower-priced, but fashion forward merchandise, according to chairman and CEO, Mike Ullman.
Stocks rallied for second consecutive day following upbeat economic reports that revived hopes of a stronger U.S. economy and news the European Central Bank was buying euro zone debt. Home Depot and Alcoa rose, while Kraft fell.
Stocks continued their December rally Thursday, led by banks and homebuilders, following a handful of positive economic reports that revived hopes of a stronger U.S. economy and news the European Central Bank was buying euro zone debt. Home Depot and Alcoa rose, while Cisco fell.
Stocks gained after a surprisingly upbeat report from the housing market and as a stream of stronger-than-expected retail sales reports signaled a bright start to the holiday season. Bank of America and Home Depot rose.
November's monthly sales reports showed there were plenty of reasons for retailers to be merry as the critical holiday shopping season got underway.
S&P futures had dropped a point or so as initial jobless claims for the week came in a bit heavier than expectations, 436,000 vs. 422,000 consensus. Prior week was revised upward to 410,000, from 407,000. Also: good news, nad news for retail.