Confidence among U.S. consumers rose in May to the second-highest level since 2008 as Americans grew more upbeat about the economy and labor market.
Ross Stores Inc. Chief Merchandising Officer Barbara Rentler will take the top job at the discount retailer next month, becoming the 25th female chief executive officer to currently serve at a Fortune 500 company.
Ross Stores Inc. joined retailers from Gap Inc. to Macy’s Inc. in forecasting a disappointing holiday-shopping quarter, citing heavy discounting and heightened competition.
Ross Stores Inc. is gaining on rivals as its 60 percent discounts on Calvin Klein shirts and Nike sneakers win customers seeking bargains amid a slowing economy.
Orders for durable goods dropped in October, pointing to a slowdown in U.S. business investment that will curb U.S. economic growth this quarter.
Ross Stores Inc. and TJX Cos. are producing the best risk-adjusted returns among their peers by flipping extra goods to deal-hungry customers instead of tying their fortunes to fashion trends.
U.S. consumer confidence last week held close to the highest level in almost three years as more Americans said their finances were in good shape.
Service industries expanded in February at the fastest pace since 2005 and fewer Americans unexpectedly filed claims for jobless benefits, adding to evidence the U.S. recovery is gaining strength.
Retail sales in the U.S. probably increased in August for a second month as merchants lured shoppers with discounts, a sign the economy will keep expanding, economists said before reports this week.
"The modern consumer's having a tough time."
- Michael Balmuth on May 27, 2014