Retail
The jury's still out on whether the U.S. will head into a double-dip
recession. Wealth Adviser columnist James Altucher gives stock picks for
investors who are planning for the worst. Veronica Dagher reports.
U.K. online grocer Ocado Group PLC on Tuesday posted a 30% increase in quarterly sales, as British consumers embraced doing the weekly shopping virtually. The firm also reassured investors about its cash position in the wake of its troubled initial public offering.
U.S. stocks edge higher Thursday, but gains are capped by caution ahead of Friday's jobs data.
Retail Headlines
Retail stocks extend recent gains, buoyed by a strong batch of sales numbers from a sector benefiting from increased promotions and ramped-up back-to-school spending.
4:12 p.m. Sept. 2, 2010Consumer spending may have some staying power, as several retailers’ August sales beat expectations, helped by increased promotions, tax-free holidays and a pickup in back-to-school sales.
2:34 p.m. Sept. 2, 2010TEL AVIV (MarketWatch) -- Wet Seal Inc., the Foothill Ranch, Calif., apparel retailer, reported August same-store sales rose 1.1% as net sales advanced 4.2% to $52.6 million. A survey of analysts by Thomson Reuters produced a consensus estimate of same-store sales down 3.5%. Profit margins improved despite "a very challenging and promotional retail environment," Chief Executive Ed Thomas said in a Thursday statement. Inventories at Wet Seal and Arden B stores "continue to be well-positioned as we move into the fall season."
4:46 a.m. Sept. 2, 2010TEL AVIV (MarketWatch) -- Costco Wholesale Corp., the Issaquah, Wash., warehouse retailer, reported August same-store sales rose 7%. Net sales climbed 9.3% to $5.9 billion from $5.4 billion. A survey of analysts by Thomson Reuters produced a consensus estimate of same-store sales up 4.2%. The August sales reflected increases of 6% in the U.S. and 11% internationally, Costco said in a Thursday statement. Excluding gasoline, total same-store sales for August rose 5%, compared with the Thomson Reuters estimate of 3.6%. For fiscal 2010 ended Aug. 29, same-store sales rose 7% overall, reflecting rises 4% in the U.S. and 19% internationally. Net sales for the year rose 9.2% to $76.3 billion from $69.9 billion. Both fiscal years included 52 weeks.
3:15 a.m. Sept. 2, 2010
Retailers are expected to report a pickup in August sales, driven by back-to-school shopping for apparel and electronics and by tax-free holidays in states including Florida and Illinois. But jitters remain.
4:53 p.m. Sept. 1, 2010The nature of their business, underlying fundamentals and chance for a seasonal surge on back-to-school sales make these retailers ripe for the picking.
12:08 p.m. Sept. 1, 2010The luxury retailer Saks could soon be on the receiving end of a $1.7 billion cash bid from a group of U.S. and U.K. private-equity firms, according to a media report.
2:17 p.m. Aug. 31, 2010The discount retailer's results are helped by increased traffic and the average amount that consumers spent in its stores.
1:18 p.m. Aug. 31, 2010Video
Stock Bulls Seek Bipartisanship
-
1798192e-8a3f-4af2-be7e-c2ce17d5c751
Stock Bulls Seek Bipartisanship 4:22
325437b5-fd5a-4760-be1f-c267f1e05d77
San Fran's Progressive Bloc Shows Cracks 3:02
07537026-c6d4-44ef-84f8-76de7e66d0aa
Hot Stocks: A Rally for Retail 1:17
565caaa8-43e9-4299-9e19-8ac14e7733c5
Spicing Up Adviser Report Cards 3:29
-
a6931b9d-528d-4a89-baae-60f62491f50e
Rex on Techs: Hurd Wants Back in the Game 3:07
52119e28-94f4-417b-b769-022b3bdabecf
Bullish on Brazilian Elections 4:27
22d4960d-f616-4adc-b003-334defbbe26a
Double Dip Picks 3:20
80ae2e56-23b3-4105-8887-053b0f6b9994
Hot Stocks: Financials Tumble 0:59
-
33dc8be4-1388-44d1-aa0a-5e12548dc0b1
Tax Changes are Coming 2:20
9f7ea7d6-a423-4157-9604-f928f9a2a0f8
U.S. Week Ahead: Parsing Economic Data 1:27
