retail

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Shoplifting Grows as Economy Doesn't

Desperation, holiday shopping drive thieves

(Newser) - The tough economic climate is driving up shoplifting arrests, and the holiday season is making the situation worse, the New York Times reports. The timing is poor for stores that have had to shrink security staff amid financial woes. “More people are desperate economically, retailers are operating with leaner...

Declines in Gift Cards, Self-Splurges Hurt Retailers

(Newser) - Naughty or nice, America’s retail stores can’t look forward to two of the holiday season’s usual boons: gift card sales and “self-gifting” splurges, MarketWatch reports. About 44% of shoppers say they will not buy gift cards this year, up from 26% last year, a marketing study...

Retailers Post Worst Month This Decade

But Wal-Mart, other discounters profit from downturn

(Newser) - November was the worst month for retail in a decade, reports the Financial Times, as stores from Macy's to Abercrombie & Fitch posted double-digit falls in sales. Mid-market stores like Target posted worse-than-expected numbers, while department stores crashed. But giant Wal-Mart, leading a small number of discounters, managed to...

Seeking Xanadu, Shopping Malls Find Purgatory Instead

Waning consumerism, economic downturn take toll on uniquely American institution

(Newser) - An American institution—the shopping mall—is slouching toward extinction, Newsweek reports. With a record number of retail outlets, including ubiquitous Gap and Foot Locker, planning closures, roughly 20% of the 2,000 largest malls are failing, says one professor, leaving the fate of developing mega-malls like New Jersey’s...

Stocks Drop on Retail, Auto Woes
 Stocks Drop 
 on Retail, Auto Woes 
MARKET Open
Nov 12, 2008 8:49 AM CST

Stocks Drop on Retail, Auto Woes

Dow drops, Best Buy disappoints, Detroit begs

(Newser) - Stocks headed south at the open today, as traders worried over a weak holiday season and the crashing auto industry. The Dow fell 166 points, while the S&P and Nasdaq shed 1.9% and 1.5% respectively. The latest sign of a retail apocalypse came from Best Buy, which...

Cash-Strapped Shoppers Remember Layaway

No-interest credit appeals to consumers

(Newser) - With consumers strapped and credit short, retailers are reviving an older kind of financing: layaway. Although the arrangement was considered obsolete when Wal-Mart closed its layaway department in 2006, retailers such as TJ Maxx, Goody’s, Marshalls and the Burlington Coat Factory have moved to offer the service, especially as...

Economic Squeeze Means Merry Christmas for Wal-Mart

Retailer expects blockbuster season as cash-strapped shoppers seek bargains

(Newser) - Wal-Mart is readying for bumper sales while most US retailers brace themselves for a miserable holiday season, the New York Times reports. Squeezed consumers are flocking to the discount chain as the economic downturn begins to bite. The firm is expected to report a modest increase in sales for October,...

Cash-Strapped Circuit City Looks to Close 150 Stores

Struggling to avoid a holiday season bankruptcy, retailer weighs options

(Newser) - Cash-strapped Circuit City may shutter more than 10% of its nearly 1,500 stores in North America and eliminate thousands of jobs, reports the Wall Street Journal. The company is considering the plan as a way to avoid a holiday season bankruptcy filing, which could leave customers wary of the...

Bankrupt Mervyn's Goes Belly Up
Bankrupt Mervyn's Goes Belly Up
Oct 18, 2008 6:39 AM CDT

Bankrupt Mervyn's Goes Belly Up

All of chain's 149 stores to be liquidated before end of year

(Newser) - Mervyn's will be closing all of its 149 stores before the end of the year and holding huge going-out-of business sales, the Bay Area's Daily Review reports. The California-based department store chain filed for bankruptcy in July and had been fruitlessly scrambling for a sale or a deal with landlords...

99 Cents Only Hikes Prices, But Only by 0.99 Cent

Discount chain follows 2 bum quarters with extra 99% of a penny

(Newser) - The store where nothing costs more than 99¢ has become the store where nothing costs more than 99.99¢, reports the LA Times. The top price at 99 Cents Only will go up by 99/100 of a penny this month, say executives at the discount chain, who blame inflationary pressures....

Jobs, Sales Send Stocks Diving
 Jobs, Sales Send Stocks Diving 
MARKETS
Sep 4, 2008 3:34 PM CDT

Jobs, Sales Send Stocks Diving

Dow off 344 as investors grow more worried about economy's health

(Newser) - The markets plummeted today amid poor jobs data and mixed retail sales, MarketWatch reports. Falling oil futures again failed to stimulate stocks as energy increasingly looks like a victim, not a perpetrator, of the economic slump. The Dow fell 344.65 to close at 11,188.23. The Nasdaq lost...

Losses Continue for 2nd Day
 Losses Continue for 2nd Day 
MARKETS
Aug 19, 2008 3:31 PM CDT

Losses Continue for 2nd Day

Stagflation stalks the Street; retailers post poor results

(Newser) - Stocks fell today for a second straight session as doubts about financials persisted and economic news painted gloomy outlooks on inflation and housing, MarketWatch reports. Disappointing quarterly reports from the retail sector made a bad situation worse. The Dow fell 130.84 to 11,348.55, the Nasdaq 32.62...

Financials Lead More Losses
 Financials Lead More Losses
MARKETS
Aug 13, 2008 3:30 PM CDT

Financials Lead More Losses

Dow falls 100 points for 2nd straight day

(Newser) - The markets saw losses today as anxiety about financial firms persisted and oil rose nearly $3 to $116 a barrel, MarketWatch reports. The Dow was hit especially hard, falling  109.51 points to 11,532.96. The other indices made afternoon gains but fell back, with the Nasdaq closing down...

Chicago Transit Explores Groceries in Train Stations

Agency hopes to reap $100M over 5 years with new developments

(Newser) - The Chicago Transit Authority is looking make more money from the real estate it owns, and is investigating installing grocery stores and restaurants inside “L” (elevated train) stations, the Tribune reports—with the agency hoping to generate $100 million over the next 5 years from such commercial development. "...

Former Retail Workers Stuck in Folding Mode

Gap-style training creates a generation of neat freaks

(Newser) - Countless current and former retail workers have an obsessive urge to fold clothes ironed into their brains, the Wall Street Journal reports. The Gap started the trend for tightly folded displays in the '80s and rivals quickly followed suit. A whole generation of retail alumni spent thousands of hours folding...

Booze Flows in Baghdad
 Booze Flows in Baghdad 
Jul 2, 2008 11:09 AM CDT

Booze Flows in Baghdad

Despite security risks, business is booming

(Newser) - Iraq may be a war-torn nation with deep-seated sectarian divisions, but things are picking up for a certain thirsty segment of the population. That’s right: booze is flowing again in Baghdad, McClatchy Newspapers reports. Though a predominantly Muslim nation, Iraq, even under Saddam Hussein, permitted any citizen to sip,...

New Shower Curtains Smell Like Cancer

PVC products linked to wide-ranging and long-lasting ills

(Newser) - Ever wonder about that smell given off by new shower curtains? Well, according to a new study, it’s poisonous. An independent organization has found that PVC shower curtains on shelves at Wal-Mart, Target, Sears and others may give off measurable amounts of dangerous, volatile organic compounds that could linger...

Street Rallies on Retail, Jobs
 Street Rallies on Retail, Jobs 
MARKETS
Jun 5, 2008 3:17 PM CDT

Street Rallies on Retail, Jobs

Wal-Mart among big winners as indices rebound from 3 days of losses

(Newser) - The markets rebounded from a 3-day losing streak today as retailers posted strong sales and weekly claims for jobless benefits fell, the Wall Street Journal reports. The Dow climbed 213.97, closing at 12,604.45, and the Nasdaq gained 46.80 to settle at 2,549.94. The S&...

Most Returned Electronics Aren't Broken

Consumers often can't figure out how to use them

(Newser) - Just 5% of the electronics that consumers return to stores actually don’t work, though often the buyers believe they’re broken, a new study says. In 68% of cases, “they thought it was defective when it wasn't, or there was an expectation gap,” an executive of the...

Ditching TV Ads Helps Put Gap Back on Track

Clothing seller sees profit up 40% after cutting marketing costs

(Newser) - The Gap's balance sheet is back in the black, helped along by its decision to stop spending on TV ads, Advertising Age reports. The clothing retailer slashed marketing spending by nearly a fifth in the first quarter and saw profits leap 40%, even as sales slumped. The Gap has switched...

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