Target sales surge as customers flock to low-cost retailers
Target’s profit and sales beat Wall Street expectations, in the latest sign that shoppers are flocking to discount chains as inflation keeps prices high. The “cheap chic” retailer on Wednesday raised its full-year profit outlook and reported its first quarterly comparable sales increase in more than a year as price cuts drew more shoppers to […]
Macy’s slashes sales outlook; retailer struggles for cash-strapped shoppers
Iconic department store Macy’s Inc. slashed its annual sales outlook after disappointing second-quarter earnings as it struggles to attract customers hit by inflation. Macy’s shares fell 13 percent on Wednesday to $15.45. Retailers were forced to lower prices on mid- to high-end items and offer more promotions to compete with more affordable rivals, but sales […]
Connecticut Sales Tax Free Week is this week – NBC Connecticut
This week, the state is offering a sales tax holiday week from Sunday, Aug. 18 through Saturday, Aug. 24, making things a little easier for shoppers. “I’m looking forward to it. I know when it’s coming,” Farmington resident Lana Elder said. “We’re trying to save where we can, so every little bit helps,” said Melissa […]
Retail Sales Snuff Out Economic Disaster Fears
Retail therapy for an anxious market Someone appears to have forgotten to tell American consumers that interest rates are so restrictive that they risk plunging the U.S. economy into recession. The Commerce Department said Thursday Retail sales increased 1% in July.That was the biggest monthly increase since January 2023. It was well above the 0.3% […]
Gold Price Forecast: XAU/USD holds steady above $2,450 on positive Retail Sales data – FXStreet
Gold prices were trading flat around $2,455 in early Asian trading on Friday. US retail sales rose 1.0% month-on-month in July, beating expectations. Initial jobless claims fell 7,000 from the previous week to 227,000. Rising geopolitical risks in the Middle East could limit gold’s declines. Gold prices (XAU/USD) were trading sideways around $2,455 in early […]
US stocks rally as strong retail sales raise hopes of ‘soft landing’ – Financial Times
Positive US retail sales data and strong performance from Walmart lifted markets and boosted confidence that the US economy will avoid a recession and achieve a “soft landing”. The new optimism spurred a rally on Wall Street, with the S&P 500 closing up 1.6%, enough to erase the index’s entire August decline. The tech-heavy Nasdaq […]
Victoria’s Secret taps Rihanna’s lingerie CEO amid declining sales
Victoria’s Secret has brought in the CEO of Rihanna’s rival brand Savage x Fenty to help turn around the struggling lingerie maker, the company said Wednesday. Hilary Super, 52, replaces veteran Martin Waters, who stepped down from his roles as director and CEO with immediate effect. Hilary Super becomes the lingerie brand’s third CEO in […]
Gold Price Forecast: XAU/USD trades with mild gains near $2,450, eyes on US Retail Sales – FXStreet
Gold prices were slightly higher around $2,450 in early Asian trading on Thursday. US CPI inflation rose as expected in July. Any signs of escalating geopolitical tensions could rally safe-haven assets such as gold. Gold prices (XAU/USD) snapped a two-day slide early Thursday in Asian trading, rising to near $2,450. A weakening US Dollar (USD) […]
Subway calls ’emergency’ meeting with franchisees as sales plummet: sources
Subway has called a surprise meeting with franchisees of its 19,000 sandwich shops across North America, amid a backlog of declining sales and profits, The Washington Post has learned. Fast food giant It was sold in April to Roark Capital, owner of Dunkin’ Donuts, Arby’s and Cheesecake Factory, for $9 billion. — told franchisees it […]
Joe Biden Reverses Three-Year Ban on Weapons Sales to Saudi Arabia
The State Department announced Saturday that it was lifting a ban on sales of certain weapons to Saudi Arabia for three years, allowing about $750 million worth of bombs to be sold to the kingdom in the coming months. “The deliveries include 3,000 small diameter bombs and 7,500 Paveway IV bombs, which had been on […]