Charles Grom News
-
Target Corp., the second-largest U.S. discount retailer, said third-quarter profit increased 15 percent as its branded credit cards boosted store sales.
-
U.S. stocks fell, halting a two-day gain in the Standard & Poor’s 500 Index, as concern about the federal budget debate erased a rally led by Home Depot Inc.
-
J.C. Penney Co., the 110-year-old department-store company, is “backtracking” on Chief Executive Officer Ron Johnson’s new pricing strategy with a 30 percent discount on clearance items, according to Deutsche Bank AG.
-
U.S. retailers’ September same-store sales topped analysts’ estimates, led by discount and specialty- apparel chains that benefited from back-to-school shopping, while department stores trailed projections.
-
J.C. Penney Co. dropped the most in four months after Chief Executive Officer Ron Johnson’s showcase of the stores’ new layout failed to inspire confidence in his remake of the 110-year-old retailer.
-
Target Corp., the second-largest U.S. discount retailer, suspended the planned sale of its credit card portfolio and agreed to pay JPMorgan Chase & Co. $2.8 billion to retire 2008 financing.
-
U.S. stocks fell, after the biggest advance in more than a month for the Standard & Poor’s 500 Index, as Intel Corp. and International Business Machines Corp. drove a slump in technology shares after reporting results.
-
Wal-Mart Stores Inc. ’s prices rose in September to the highest level in at least 21 months, according to JPMorgan Chase & Co., as the world’s largest retailer scaled back discounts from earlier this year.
-
Family Dollar Stores Inc. surged the most in more than 30 years in New York trading after investor Nelson Peltz offered to buy the retailer for as much as $7.6 billion, spurring speculation other suitors will follow.
-
Retail stocks may underperform the market because consumers are financing spending partly by saving less, which might be unsustainable as unemployment remains stalled around 9 percent.
|
|
Most Popular on Bloomberg
|
| |
Rate this Page