As Macy's closes up shop at more than 60 U.S. locations, one off-price chain stands to gain the most from its contraction.
Target shares shed nearly 6 percent Wednesday as foot traffic at the company's stores lagged, despite a marketing push and spike in digital sales.
The “Fast Money” traders weigh in on Target after the company issued a profit warning following weak holiday sales.
The S&P 500 rose 4 points, or 0.2 percent, to 2,271.89. Slightly more stocks rose on the New York Stock Exchange than fell. The S&P 500 is up 6.2 percent since Donald Trump's surprise victory of the White House, driven higher by expectations for lower corporate taxes and less regulation.
Steel maker Nucor gained 3.7 percent and Fastenal, which sells nuts, bolts and other equipment, jumped 5.8 percent after turning in a strong earnings report. Target fell 5.8 percent, Dollar Tree slumped 2.8 percent and Macy's fell 1.5 percent. The Dow Jones industrial average fell 22 points, or 0.1 percent, to 19,804, held back by a big drop in UnitedHealth.
NEW YORK— Target cut its fourth-quarter profit and sales outlook after sluggish holiday traffic in its stores and weak sales in key areas like electronics and food offset a surging online business. Macy's, Sears and others have announced store closings and layoffs. The Minneapolis- based discounter said the costs associated with bolstering its online...
The jobs will come from the opening of 59 new, expanded and relocated Wal-Mart and Sam's Club locations as well as e-commerce services that were previously announced. "Everyone is trying to curry favor with the new administration in terms of getting a better corporate tax landscape and gaining favor with the new administration," said Ken Perkins, president of...
Even though retail sales topped expectations, Susan Lyne believes traditional retail is going to continue being challenged.
It's starting to look like J.C. Penney will be the next department store chain to put its physical footprint under the shrink ray.
Susan Lyne, BBG Ventures CEO, and Simeon Siegel, Nomura Instinet equity retail analyst, weigh in on retail, as e-commerce continues to overtake traditional retail.
Sales rose 4 percent to about $658.3 billion, according to The National Retail Federation. The report is partly backed by a Commerce Department report also showing sales increases in December, notably in auto buying and online shopping. The National Retail Federation bases its report on data from the Commerce Department.
WASHINGTON— Americans stepped up their auto buying and online shopping in December, reflecting a boost in confidence after the election and a solid increase in pay. Retail sales rose a seasonally adjusted 0.6 percent, following a small 0.2 percent gain in November, the Commerce Department said Friday. "Retail sales appear healthy enough, but looking past the...
The market is a "coiled spring" right now and bank earnings could push stocks past the tipping point.
The department chain's closures can be attributed to complacency, not online shopping competition, says Recode's Jason Del Ray.
President-elect Donald Trump sent out a Tweet thanking L.L Bean heiress Linda Bean for her support.
The beaten-down retail names could see further downside ahead.
Many of the specialty apparel chains that presented at this week's ICR Conference spoke to the difficulties they are facing.
Is the bank run overdone? Analysts are sounding a note of caution ahead of Q4 earnings.
Overall consumer spending grew 4.7 percent over the previous holiday season, while online retail purchasing grew 12 percent over the same period last year, according to First Data, which analyzed online and in-store payments for nearly a million merchants between October 29, 2016 and January 2, 2017. First Data said about 21 percent of all holiday spending...
New data show that retail sales increased as expected in November and December.