Retailers reported dismal December same-store sales reports after one of the worst holiday seasons in decades, but some teen retailers managed to escape the gloom with positive results.
Teen clothing store chain Pacific Sunwear of California Inc. said Thursday it now expects to post a wider loss for the fiscal fourth quarter because of lower sales, increased promotions and markdown reserves.
Wal-Mart slashed its earnings forecast and reported December same-store sales that fell short of expectations. Target reported its sales fell but beat forecasts. Macy's also issued a profit warning and said it would close 11 stores.
Monday, 22 Dec 2008 | Source: The Associated Press
Looking for a holiday bargain? You may only have to ask. With sales shaping up to be the lowest in years, retailers say they're taking consumers' demands for good deals seriously.
Retailers, including Wal-Mart Stores, are posting solid same-store sales growth in June, as expected, as seasonal weather and tax rebate checks helped get consumers to the store.
Thursday, 3 Jul 2008 | Source: The Associated Press
Community college classes in the old mall movie theater. A DMV office across from the Starbucks. Maybe a local library between the Victoria's Secret and the Gap.
Futures are down nearly 10 points, not surprising given AIG, a strange but generally disappointing retail sales report, and jobless claims higher than expected... Read More