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.
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.
The U.S. jobless rate unexpectedly fell to 8.9 percent in February, the lowest in almost two years, and employers added 192,000 jobs in a sign of growing confidence in the recovery.
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.
Payroll gains in the U.S. probably accelerated in February, spurred by an improving economy and more seasonable temperatures, economists said ahead of a government report today.
"Our ability to offer terrific bargains on a wide array of product for back-to-school shoppers drove healthy traffic to our stores."
- Michael Balmuth on Sep 11, 2010