Halfway through earnings reports, the scorecard isn't giving investors much reason for optimism. Here's what you need to know.» Read More
Discounts and gift cards helped many U.S. retailers rebound in January from a dreary December, according to data released Wednesday, but analysts suspected post-holiday sales were stunted by the weaker economy.
A weak sales and job-cut announcement from Macy's and comments from a Federal Reserve official put a damper on the stock market's bounce.
U.S. retailer Macy's said Wednesday that sales at its stores open at least one full fiscal year fell 7.1 percent in January, and announced restructuring plans to cut costs.
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They’ve been beaten down since August, but this week retail held strong. Can you trust these stocks if the consumer is supposed to be dead?
With the Dow down nearly 15% from its high and the S&P at a 15-month low, the seemingly inevitable bear market is creeping closer. The traders help navigate these choppy waters in the Word on the Street.
Strong evidence is emerging that consumer spending, a bulwark against recession over the last year even as energy prices surged and the housing market sputtered, has begun to slow sharply at every level of the American economy, from the working class to the wealthy.
Vacancy rates at U.S. regional malls rose and rents fell during the fourth quarter due to concerns about consumer spending and a potential slowdown in the national economy, real estate research firm Reis said.
The American consumer is cutting back--even at the most important (and typically extravagant) spending times of the year. That's the one clear headline from all the recent retail numbers. Markdowns ate profits, that's also clear. But figuring out just what's going on with the consumer involves a few shades of gray...
Big box retailers like Wal-Mart and Costco saw sales that exceeded expectations, but most niche retailers saw their sales drop or saw sales grow less than expected.
Disappointing. Challenging. Uncertain. Short of expectations. Those are the words most heard from companies in this morning's December same store sales report. Large companies like Macy's, Gap, Abercrombie, and Ann Taylor reported sales below expectations.
Macy's reported a 7.9 percent fall in December sales at stores open at least one full fiscal year, worse than the company and analysts expected, hurt by a calendar shift and cautious consumer spending.
Depending on whether you're long or short a position in Macy's stock, you might find some relief in watching CEO Terry Lundgren try applying his retail executive skills to another job. He'll make his network TV debut tonight on NBC's "Celebrity Apprentice" as a guest judge.
Following are the week’s biggest winners and losers. Find out why shares of Osiris Therapeutics (OSIR) and Humana (HUM) popped while Valero (VLO) and Macy's (M) dropped.
The poor jobs report is causing a rethinking of stock models, which are weighted toward certain sectors based on earnings expectations. Up until recently, many large traders were overweight tech, industrials and materials stocks on two assumptions.
Retailer Macy's said on Friday it would close nine underperforming stores in Indiana, Ohio, Louisiana, Oklahoma, Utah and Texas.
Weakness today on: Bhutto assassination, weaker-than-expected jobless claims, durable goods. Gold, oil, bonds rally. Weak: emerging markets, financials. Airlines, down 2% yesterday, another 2% today: AMR, Northwest, Continental at new lows. Some retailers like Macys and Kohls also at new lows -- but the season was not the disaster some depicted.
Retailers opened earlier than ever on the day after Christmas on Wednesday and slashed prices with hopes of salvaging a holiday season that is falling short of already modest expectations.
Shoppers jammed stores over the last weekend before Christmas to try to scoop up bargains. But the spending surge may not be enough to offset what is shaping up to be a mediocre December for some retailers.