News
Shoppers make their way through Roosevelt Field Mall during "Black Friday" in Garden City, New York November 28, 2008. REUTERS/Shannon Stapleton

Stores court careful shoppers on Black Friday

Key retail stocks fell on Monday as investors feared that deep discounts offered by U.S. stores during the year's first holiday shopping weekend could sap profits and would not save a bleak season.

Loblaw to charge for plastic shopping bags

Loblaw Co , Canada's biggest supermarket chain, said on Thursday that it will start charging customers a fee for every plastic shopping bag they use.

The Tiffany & Co. store on Rodeo Drive in Beverly Hills in a file photo. REUTERS/Fred Prouser

Tiffany slashes 2008 view on weak sales, shares fall

Upscale jeweler Tiffany & Co slashed its full-year forecast and said it plans to cut staff and trim its 2009 store growth plans, in a fresh sign that the shrinking U.S. economy is hurting affluent consumers.

Dillard's posts wider loss, shares fall

Retailer Dillard's Inc reported a wider quarterly loss on Wednesday as sales fell in the troubled U.S. economy and it marked down prices, sending its shares down more than 10 percent.

Tiffany posts lower profit

Upscale jeweler Tiffany & Co slashed its full-year forecast and said it plans to cut staff and moderate its 2009 store growth plans, in a fresh sign that the shrinking U.S. economy is hurting affluent consumers.

Car buyers drive up retail sales

Despite troubles in the auto industry, Canadians bought a lot of new cars in September, helping to push up overall retail sales in the month by an unexpectedly strong 1.1 percent from August.

Talbots, Chico's allay Wall St fears

Women's clothing retailers Talbots Inc and Chico's FAS reported quarterly results that were in line with or better than Wall Street forecasts, allaying concerns their business would perform even worse in a contracting U.S. economy.

Dollar Tree profit jumps 20 percent

Discount retailer Dollar Tree Inc said on Tuesday quarterly profit rose 20 percent as more customers came into its stores for low prices on basic items like food and cleaning supplies.

Shoppers walk with their purchases in the SoHo neighborhood of New York November 22, 2008. REUTERS/Chip East

Black Friday sales intensify in downturn

Black Friday, the traditional start to the U.S. holiday shopping season, means more to retailers this year as they struggle to win over consumers with a recession looming.

The MasterCard logo is seen on two credit cards April 28, 2008. REUTERS/Sam Mircovich

Retail sales struggle in early November: MasterCard

U.S. sales of apparel, shoes and appliances fell dramatically in the first two weeks of November, as consumers worried about a recession and job losses further cut spending, MasterCard Advisors said in a report.

Wal-Mart's Lee Scott (L) and Mike Duke in a combination image. The world's largest retailer said Scott will retire as chief executive early next year, and will be succeeded by Mike Duke, who heads its international operations. REUTERS/Combination

Wal-Mart's Scott retiring as CEO

Wal-Mart Stores Inc , which is gaining market share amid a global economic downturn, said Lee Scott will retire as chief executive early next year and will be succeeded by Mike Duke, who heads its international operations.

An Ann Taylor Store "LOFT" in Encinitas, California is shown here May 20, 2008. REUTERS/Mike Blake

AnnTaylor posts loss

AnnTaylor Stores Corp reported a quarterly loss on Friday as the financial crisis exacerbated already weak sales trends, and the women's clothing retailer said it expected consumer spending to remain soft through the current fourth quarter.

Shoppers pass a GAP store along 5th Avenue in New York, November 19, 2008. REUTERS/Mike Segar

Gap third-quarter net profit rises

Gap Inc posted higher quarterly net profit on Thursday, topping Wall Street expectations, helped by lower inventory and cost cutting that boosted margins and offset a decline in sales.

A Barnes and Noble book store is shown here in Encinitas May 20, 2008. REUTERS/Mike Blake

Barnes & Noble loss more than expected

Barnes & Noble Inc on Thursday posted a bigger-than-expected quarterly loss as the weak U.S. economy hurt demand for books and music at the largest U.S. specialty bookseller.

Limited Brands posts lower net profit, shaves view

Limited Brands , the retailer whose main chains are Victoria's Secret and Bath and Body Works, posted lower net profit on Wednesday and trimmed its full-year earnings outlook.

Customers walk past a Best Buy logo on the opening day of China's first Best Buy outlet in Shanghai December 28, 2006. REUTERS/Aly Song

Best Buy shares down after credit rating cut

Best Buy Co shares fell more than 11 percent to a new year low on Wednesday, a day after Standard & Poor's cut its debt rating on the electronics retailer to the lowest investment grade.

Shoppers leave a BJ's store in Alexandria Virginia August 20, 2008. REUTERS/Kevin Lamarque

BJ's Wholesale quarterly profit jumps 24 percent

BJ's Wholesale Club Inc posted a 24 percent rise in quarterly profit on Wednesday, helped by an increase in shoppers coming to its stores and stronger-than-expected results from its gasoline stations.

Ross profit tops view

Ross Stores Inc said quarterly profit rose a better-than-expected 18 percent on inventory management and cost-cutting, but it trimmed its holiday forecast as even bargain-hungry shoppers cut back amid a global financial meltdown.

La-Z-Boy posts wider loss, suspends forecasts

La-Z-Boy Inc , the furniture maker and retailer, reported a wider quarterly loss on Tuesday and saw a decline in sales as cash-strapped consumers curb purchases.

The logo for Circuit City store is seen in New York November 10, 2008. REUTERS/Shannon Stapleton

Mexico's Salinas could buy more of Circuit City

Mexican retail and media tycoon Ricardo Salinas Pliego owns 28 percent of Circuit City and could buy more of the troubled U.S. electronics chain, a Salinas spokesman said on Tuesday.

A Home Depot store sign is seen in New York, August 18, 2008. A REUTERS/Shannon Stapleton

Home Depot posts lower profit

Home Depot Inc reported a higher-than-expected quarterly profit on Tuesday as it held down costs in the face of lower sales and a weak economy, sending its shares up 3 percent.

A customer pushes her shopping cart past a display at a Wal-Mart Supercenter in Rogers, Arkansas June 5, 2008. REUTERS/Jessica Rinaldi

Wal-Mart says gas price drop helping store traffic

Customers are coming in to Wal-Mart's stores more frequently now that gas prices have fallen, the head of its U.S. operation said on Tuesday, and the retailer is cutting prices on food to win sales ahead of the Thanksgiving holiday.

Holiday shoppers crowd Macy's department store in New York November 23, 2007. REUTERS/Ray Stubblebine

Gift card sales seen down 6 percent this holiday: NRF

Sales of once-hot gift cards are expected to fall nearly 6 percent this holiday season as shoppers try to stretch their dollars by buying discounted merchandise, according to a survey released by the National Retail Federation on Tuesday.

A woman leaves a Target department store in a file photo. REUTERS/Rick Wilking

Target reports slightly better-than-expected Q3 EPS

Target Corp posted a nearly 24 percent drop in profit as an economic downturn curtails shoppers' ability to splurge on the discount retailer's trendy wares and make payments on its credit cards.

Two customers enter at a Lowe's store in Burbank, California May 19, 2008. REUTERS/Fred Prouser

Lowe's reports third-quarter profit

Lowe's Cos reported higher-than-expected quarterly profit on Monday as sales of hurricane-repair and outdoor goods helped offset weakness in big-ticket projects, sending shares up 8 percent.

Pedestrians walk past a Banana Republic store along 5th Avenue in New York, May 11, 2008. REUTERS/Joshua Lott

Retail sales in record fall, but sentiment up

Sales at U.S. retailers suffered a record decline in October as fears of recession sapped spending, but part of the drop was due to slumping gasoline prices which helped buoy consumer confidence.

Penney, Abercrombie results add to retail fears

Two major U.S. retailers said on Friday that holiday cheer may be hard to find this year as shoppers look like they will be reining in spending due to the worsening jobs picture and growing economic weakness.

Customers leave a JC Penney Co store in Westminster, Colorado August 14, 2008. JC Penny on Thursday will report on its earnings. REUTERS/Rick Wilking

J.C. Penney profit fell 53 percent

Retailer J.C. Penney Inc on Friday said quarterly profit fell nearly 53 percent and warned of worsening results for the rest of the year, just weeks before the crucial holiday shopping season begins.

Pedestrians walk past a Banana Republic store along 5th Avenue in New York, May 11, 2008. REUTERS/Joshua Lott

Retail sales fall by record 2.8 percent in October

Sales at retailers suffered a record decline in October, government data on Friday showed, as shoppers reined in spending with home prices falling, although plunging gasoline prices also reduced outlays by consumers.

A customer shops at a Wal-Mart Supercenter in Rogers, Arkansas, June 5, 2008. REUTERS/Jessica Rinaldi

Wal-Mart profit rises

Wal-Mart Stores Inc reported a slightly better-than-expected 10 percent rise in quarterly profit on Thursday as shoppers scoured its aisles for discounts on groceries and medicine in the face of deteriorating economic conditions.

Retailers see more returns, some loosen policy

Retailers, already struggling to capture sales in the U.S. economic downturn, are now facing rising rates of returned merchandise that are not expected to abate during the holidays, according to a survey released on Wednesday.

A Best Buy store in Westminster, Colorado June 27, 2007. REUTERS/Rick Wilking

Best Buy slashes profit outlook

Best Buy Co Inc , the No. 1 U.S. electronics chain, slashed its profit forecast on Wednesday, the latest sign that the deepening economic crisis may bring a bleak holiday season, sending the company's shares down 7 percent.

The logo for Circuit City store is seen in New York, October 10, 2008. REUTERS/Shannon Stapleton

Circuit City files for bankruptcy

Circuit City Stores Inc, the No. 2 U.S. consumer electronics retailer, filed for bankruptcy on Monday just weeks before the start of the holiday shopping season, becoming the largest retailer to file for Chapter 11 since Kmart in 2002.

Stocks eye bleak retail data, Treasury pick

The grim view on consumer spending could worsen this week as investors parse a government report on retail sales and earnings from Wal-Mart Stores Inc , while waiting with bated breath for President-elect Barack Obama's pick for U.S. Treasury secretary.

A Blockbuster store

Blockbuster narrows Q3 loss

Blockbuster Inc reported that its third quarter loss narrowed by more than 40 percent as the retailer posted better-than-expected results.

A customer pushes her shopping cart past a display at a Wal-Mart Supercenter in Rogers, Arkansas June 5, 2008. REUTERS/Jessica Rinaldi

October retail sales disappoint as shoppers pull back

Retail chains posted the worst October sales results in more than three decades as consumers cut spending sharply, stunned by a financial crisis that has derailed the U.S. economy.

A Costco warehouse store in a file photo. REUTERS/John Gress

Costco same-store sales down 1 percent

(Reuters) - Costco Wholesale Corp said on Thursday its same-store sales for October were down 1 percent.

Mervyn's may pay fired workers: report

(Reuters) - Retailer Mervyn's LLC may pay accrued vacation to its fired employees if its closing-down sales raise enough cash to pay off its debt to Wachovia Corp , the Wall Street Journal reported, citing a court hearing.

The Walgreens sign is pictured at an outlet in Westminster, Colorado October 30, 2008. REUTERS/Rick Wilking

Walgreen full October same-store sales up 2 percent

Walgreen Co said on Tuesday that October sales at stores open a least a year rose 2 percent, slightly less than the 2.2 percent increase it reported last week, before the month had ended.

A Circuit City store is seen in Dallas, Texas June 19, 2008. REUTERS/Jessica Rinaldi

Circuit City to close 155 stores

Circuit City Stores Inc said it would close 155 U.S. stores and was considering all options to restructure in the face of a deteriorating cash position and tighter credit terms from vendors.

Two customers enter at a Lowe's store in Burbank, May 19, 2008. REUTERS/Fred Prouser

Lowe's sees election wrap-up helping sentiment: report

(Reuters) - Wrapping up Tuesday's U.S. presidential elections, regardless of the outcome, will by itself help consumer sentiment, retailer Lowe's Cos President Larry Stone told the Wall Street Journal in an interview.

A woman walks with her shopping bags in central Paris October 13, 2008. REUTERS/Charles Platiau

Consumer spending drops for first time in 2 years

Consumers cut their monthly spending for the first time in two years during September, evidently bracing for hard times as jobs continue to disappear and credit conditions tighten.

Staples logo

Shares in Staples surge after Q3 results

The biggest US office supplies retailer saw its shares climb the most in seven years following the announcement that third-quarter profit beat forecasts.

A Walgreens store is seen in Golden, Colorado in this June 25, 2007 file photo. REUTERS/Rick Wilking

Walgreen same-store sales up, sees consumer pull back

Walgreen Co said on Thursday that sales at stores open at least a year are up just 2.2 percent so far this month, as cost-conscious consumers bought cheaper private label products and did not buy many decorative Halloween items.

Prescrition pills in bottle

CVS Caremark completes tender offer

CVS Caremark Corporation announced that it has successfully completed the offering period of its tender offer for Longs Drug Stores Corporation.

Avon quarterly profit misses Wall Street view

Avon Products Inc , the world's largest direct seller of cosmetics, posted a lower-than-expected quarterly profit on Thursday as tight consumer spending led to a drop in North American sales.

Luxury goods market faces bleak outlook

Shares of luxury companies are falling as the economic slowdown hits the worldwide luxury goods market and prompting fears of a recession, according to Bain & Co.

An Office Depot shopping basket in an undated photo. Office Depot posted a net quarterly loss on Wednesday, as the global financial crisis forced retail consumers and smaller businesses in the United States to cut office supply budgets. REUTERS/Files

Office Depot posts loss

Office Depot posted a net quarterly loss on Wednesday, as the global financial crisis forced retail consumers and smaller businesses in the United States to cut office supply budgets.

A sign marks the entrance of a Wal-Mart Supercenter in Rogers, Arkansas June 5, 2008. REUTERS/Jessica Rinaldi

Wal-Mart to focus on remodels, smaller stores

Wal-Mart Stores Inc executives still expect the company to post sales growth through next year and gain market share, even as they cut spending plans to weather what could be a deep global recession.

Winn-Dixie store

Winn-Dixie reports net loss of US$2.3m

Food retailer Winn-Dixie Stores Inc has posted a net loss of US$2.3 million, or US$0.04 per diluted share for the quarter, for the first quarter of fiscal 2009.

Best Buy logo

Best Buy closes tender offer of Napster

Best Buy Inc has made a cash tender offer to purchase all outstanding shares of Napster Inc in accordance with the previously announced merger.

Selection of men's striped shirts

Liz Claiborne cuts full-year guidance

Liz Claiborne Inc reported that third quarter net sales were US$1.015 billion, down 15.9 percent, causing the retailer to adjust its full-year guidance.

Red lipstick

Limited Brands to reduce capital spending next year

Limited Brands said Wednesday, October 22, that it plans to cut capital spending next year as it faces a challenging economic environment.

A shopper leaves a Radio Shack store in Cambridge, Massachusetts April 28, 2008. REUTERS/Brian Snyder

RadioShack posts higher quarterly profit

Electronics retailer RadioShack Corp reported a higher third quarter profit on Thursday helped by demand for digital television converters and video games.

A box from Amazon.com is pictured on the porch of a house in Golden, Colorado July 23, 2008. REUTERS/Rick Wilking

Amazon Q4 view below Street, shares fall 15 percent

Amazon.com Inc said sales in the holiday quarter would fall short of Wall Street expectations, sending its shares down nearly 14 percent as consumers cut back on spending and a strengthening U.S. dollar eroded the value of foreign sales.

Wal-Mart Chief Executive Lee Scott speaks at a company-sponsored conference in Beijing October 22, 2008. Wal-Mart Stores Inc plans to crack down on its Chinese suppliers, announcing on Wednesday steps to enforce stricter quality and environmental standards for the products it sells. REUTERS/Christina Hu

Wal-Mart toughens standards for Chinese suppliers

Wal-Mart Stores Inc said it will enforce stricter quality and environmental standards for its army of Chinese suppliers, a step likely to shrink margins and raise prices as the world nears recession.

Kroger upgraded, shares rise

Kroger Co saw shares increase when the grocer was upgraded to “Buy” as analyst Scott Mushkin of Jefferies & Co raised its target price to US$32 from US$28.

Costco Wholesale store

Costco Australian expansion plans to proceed

Costco Wholesale Corp has said that despite the global financial turmoil it will continue to expand into Australia, where it is constructing a large-format store in Melbourne according to reports.