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The lure of bargains trumped economic concerns at the start of the holiday shopping season. Retailers logged sales that were up significantly from a year ago.
The annual shopping frenzy kicked off Friday with crowds of shoppers, many braving cold temperatures, hoping to snag bargains. CNBC checked in with several top retail executives to see how things were shaping up.
Shoppers jammed stores before dawn Friday to grab discounted TVs, toys and clothing for the official start of the holiday season, expected to be the weakest retail showing in five years.
Everyone has heard predictions of a tapped-out consumer. And though they haven't materialized in the past, this time is likely to be different.
The unofficial start to the holiday shopping season is just around the corner and Dev Shapiro has left nothing to chance. The Dallas resident and veteran bargain hunter has spent the last three weeks developing a plan of attack for Black Friday sales, the day after Thanksgiving when retailers across the country slash prices on everything from flat screen TV’s to the hottest Christmas toys.
The turkey’s not even in the oven, but the annual game of chicken has begun. Consumers are waiting to see if retailers grow desperate and cut prices deeper than planned.
Cramer makes the call on viewers' favorite stocks.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The fourth quarter is now half over, and fourth quarter earnings estimates have been coming down quickly for financials and retailers. Both Kohl's and Ann Taylor lowered their guidance. Ann Taylor noted that "Traffic trends were particularly soft in the month of October," though they improved in November
Wall Street whale watchers are reporting an important sighting. The '13-F' filings, which disclose stock holdings of investors such as Eddie Lampert and Warren Buffet, came into full view. How should you trade it?
Kohl's, a mid-priced retailer of apparel and home goods, reported a 14 percent drop in third-quarter profit as sales fell short of analysts' estimates, and cut its earnings forecast for theholiday selling season and full year.
Good and bad news this morning. Good news: CPI in line with expectations. --More relief on the subprime front. UBS said they do not expect a major write-down of subprime-related exposures.
Department store operator Macy's reported a quarterly profit Wednesday against a year-earlier loss on lower merger costs, but sales at stores open at least a year declined.
Futures rallying on economic and subprime news. 1) Economic news showed no inflation at the wholesale level and retail sales on the aggregate were a tad better than expected. 2) Two large financial companies made relatively positive comments concerning their subprime exposure this morning.
Why the rally? Let me count the ways: 1) Stocks oversold (financials in particular over-shorted). 2) Oil drops (helping overall market). 3) Wal-Mart does not lower guidance for the fourth quarter (retailers rally).
Gift cards are still at the top of everyone's wish list this holiday season, but growth is expected to slow dramatically from last year.
I haven't purchased a single Christmas gift for ANYONE that I know. For me, this may be inexcusable given the amount of time that I spend in malls for work. I'm trying to rein in my spending and apparently I'm in good company. According to the National Retail Federation, more than 70% of consumers have completed only 10% of their holiday shopping.
Warm weather, the credit crisis and gas prices are threatening to drag down retail. What will next week’s Wal-Mart (WMT) and Macy's (M) earnings reveal about consumers?
Stocks fell for a second straight day, led by declines in the Nasdaq after tech bellwether Cisco Systems signaled the credit crisis was hurting demand from key customers, including banks.
Retailers posted a second-straight month of weak sales, as warmer-than-usual weather cooled demand for fall clothing and surging gasoline prices and a weak housing sector created a more cautious consumer.
Cramer makes the call on some Georgia Tech students' favorite stocks.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.