Stocks closed higher after another volatile session, helped by a rally among energy shares as oil soared to a record high close of $98 a barrel.
One of my mother's favorite lines is the one about not saying anything if you can't think of something nice to say. Well that was the story of the markets Monday. What a day of angst. Look at this headline from a note sent by MF Global's Andy Brenner Monday afternoon: "The market has traded like a crazed man with no liquidity." Yikes.
Electronics are in, women's clothes are out -- and leather handbags and jewelry are on the fence heading into next week's unofficial start to the 2007 holiday season. U.S. consumers are struggling with soaring fuel and food costs and the falling housing sector.
Athletes and companies alike are looking forward to the opportunity to shine under the spotlight in what will be a special event in the history of the Olympic games.
October was not kind to Wal-Mart even with the promotional pricing and marketing campaign that the world's biggest retailer has been pushing. The only sales growth at Wal-Mart stores was at its Sam's Club division (+2.7%) which helped boost the overall Wal-Mart comp to a meager .4% gain.
Fashion parties are inherently uncomfortable, well-dressed and sometimes awkward events. They can also be a lot of fun for anyone who enjoys getting dressed up having cocktails and looking at beautiful objects/designs. When fashion intersects with retail (the business of selling these sometimes artistic/sometimes commercially minded clothing creations), my job occasionally involves attending some of these parties.
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The retailer has two potential suitors, a report says. But even if it doesn't get bought out, the stock is still worth owning.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.
Luxury retailer Saks could be opening up to the possibility of a sale and may have at least two interested buyers, Women's Wear Daily reported Monday.
September same-store sales growth falls to its slowest pace in three years, forcing a number of retailers to cut their third-quarter earnings forecast.
Picture this: panicked banker/trader walks out of the New York Stock Exchange and realizes (gasp!) "Oh ****, it is Valentine's Day/our anniversary/her birthday?!" Where does he head? He follows the big orange sign across the Street to Hermes or down the Street to the Tiffany's that is about to open on the 10th. Who else is there?
Holiday sales could be as weak as they were during the recession of 2002, according to a CNBC snap survey. It’s too early to shop, but it isn’t too early to trade the Christmas season. Who will be the Christmas winners amid such dismal forecasts?
From Rapper L.L. Cool JJ to Saks CEO Steve Sadove to Jack Mitchell of the family-run Mitchell/Richards retailer-to-the-CEO-crowd stores and Gildo Zegna himself....the front rows at the Z Zegna show encapsulated the mix of sensibilities behind the younger Zegna house. In its second New York runway appearance (I covered the first one at Fashion week last year), the Z Zegna show was once again a hot ticket.
The Dow might be recovering currently, but overall this bull market of ours is still in question. Three pieces of this bull however broke out Thursday and may keep going.
Looks like Costco's disappointing August store sales was an anomaly. The good news is that retailers beat expectations, almost across the board. A number of retailers noted that some school districts in Texas and Florida went back to school a week later, which gave a boost in August.
The Securities and Exchange Commission said Wednesday that Saks Inc. has agreed to settle a lawsuit that Saks Fifth Avenue understated sales to some vendors and didn't record markdowns properly, inflating its earnings.
It's a continual worry in the markets: Will the consumer continue to spend? The answer so far seems to be "yes." But cracks are appearing as Americans wrestle with high debt, tightening credit, inflation and a worsening housing slump. That's led to speculation that consumers may become tapped out enough to push the economy into a recession.
Saks said Tuesday its second-quarter loss narrowed on strong same-store sales and an expanded gross margin, but shares fell as the upscale retailer said gross margin will likely be flat for the rest of the year.
Several retailers posted improved quarterly earnings on Tuesday, but many remained cautious about the rest of the year.Retail stocks were mixed in reaction, with shares of upscale retailers such as Saks trading lower, while club stores such as BJ Wholesale Club gained ground. Both were among those reporting results Tuesday.
Saks' CEO Steve Sadove says that he is optimistic about the luxury market and that they're seeing a strong purchase performance from new customers. For the second quarter the high-end department store posted a net loss of $24.6 million, or 17 cents a share, versus a prior-year net loss of $51.9 million, or 38 cents a share.