Hurricane Sandy will affect some retailers worse than others, as stores across the Northeast remain closed ahead of the holiday season, Morgan Stanley retail analyst Kimberly Greenberger told CNBC on Thursday.
A handful of U.S. retailers expect the massive storm that hit the U.S. East Coast this week to hurt sales in November, while overall holiday sales should still show the slow growth that was forecast before Sandy hit.
Wall Street and two major airports reopened, and National Guardsmen rushed to rescue flood victims as the Northeast limped into recovery mode Wednesday, two days after being pummeled by epic Hurricane Sandy.
As our thoughts remain with all those who have been horribly affected by the devastation that hit the U.S. Eastern seaboard and its aftermath, we are being asked about the implications of Hurricane Sandy for markets
Superstorm Sandy slammed into the U.S. east coast on Tuesday and hurled a record 14-foot surge of seawater at New York City, flooded the financial district and left 7 million people without power.
Sandy has made landfall along the coast of southern New Jersey. While downgraded to a post-tropical cyclone, it still has sustained winds of 85 mph.
*First hr2 store to open near Montreal next March. TORONTO, Oct 29- Holt Renfrew, a Canadian luxury department store operator, said on Monday it would launch a lower-priced chain called hr2 in the spring, months before U.S. luxury retailer Nordstrom Inc plans to open north of the border.
Hurricane Sandy began veering as predicted early Monday on a path that would take it over Washington, Baltimore, Philadelphia and New York putting it on a path that could endanger 50 million people.
Hurricane Sandy, a rare, late season storm, is already having a significant economic impact and is poised to be one for the record books in both meteorological and economic terms.
*Now sees FY rev $3.79- $3.82 billion vs prior $3.8- $3.9 bln. Oct 24- Jones Group Inc, the apparel company behind such brands as Nine West and Jones New York, lowered its full-year sales forecast on Wednesday, saying it expects shoppers to continue to demand bargains during the holiday season.
Many hotels with unique amenities and specialty products offer them for sale in an effort to build loyalty and increase revenue. Are hotels turning into luxury home goods stores?
SEATTLE-- King County Executive Dow Constantine and Seattle Mayor Mike McGinn signed legislation Tuesday on the funding plan for construction of an arena that could be used to lure the NBA back to Seattle. Other investors include Microsoft Chief Executive Steve Ballmer and two members of the Nordstrom department store family.
SEATTLE-- The King County Council and the Seattle City Council gave their final approval Monday to an agreement to build a $490 million basketball and hockey arena in the city, despite the threat of a lawsuit from longshore workers. Mayor Mike McGinn called the votes important steps toward bringing professional men's basketball back to Seattle.
*A Canadian naval intelligence officer pleaded guilty to spying for Russia, a public admission of an embarrassing espionage scandal that has damaged Canada's reputation among allies and will likely reverberate for years.
Higher-end retailers like Bloomingdales's, Saks Fifth Avenue and Nordstrom are also dangling bonus dollars in front of their customers and tying them to store credit cards, according to Mary Delk, director in the retail practice of the consultancy Deloitte LLP in Charlotte, North Carolina.
NEW YORK-- Summary of revenue at stores open at least a year in September for department store 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. Bon-Ton Stores Inc. 0.6 pct.
Higher-end retailers like Bloomingdale's, Saks Fifth Avenue and Nordstrom are also dangling bonus dollars in front of their customers and tying them to store credit cards, says Mary Delk, director in the retail practice of the consultancy Deloitte LLP in Charlotte, North Carolina.
Among our rated apparel retailers, Gap and Limited Brands, are expected to continue the positive momentum through the holiday season, on top of their reported comps growth at 6% and 5%, respectively, following 9% and 8% comps growth in August. Costco reported a 5% growth in comps excluding gasoline, in line with consensus estimates.
Macy's revenue at stores open at least a year rose 2.5 percent in September, while analysts expected a gain of 3.3 percent. Shares of Macy's rose 34 cents to $39.83. Kohl's Corp.' s revenue at stores open at least a year fell 2.7 percent in September, a bigger drop than Wall Street expected, hurt by lower demand for accessories and women's clothing.
Retailers saw a slowdown last month from August sales, but a few names performed better, former Staples CEO Tom Stemberg told CNBC on Thursday.