Macy’s is turning several stores into discount outlets. Yep, that’s right-discount stores. Sadly this signals the end of the American department store as we know it. CEO Terry Lundgren has told analysts on a conference call that the brand is planning to put Backstage stores in 15 existing retail locations this year….
Automakers and dealers pushing special year-end deals and the pace of vehicle sales in November has hit the highest level of the year according to Edmunds.com. The online auto research firm estimates the pace of sales for the month will be 18.3 million vehicles. That would be the highest monthly…
Many big box stores are issuing bleak outlooks for the next couple of months. Walmart (WMT), Nordstrom (JWN) andMacy’s (M) are not optimistic at all about the holiday shopping season for a variety of reasons. Nordstrom is most worried that the strong U.S. dollar will deter foreign tourists from some…
CHERRY HILL, N.J. (AP) — It’s a sad time for those in this area of New Jersey when it comes to seeing Santa. Children wanting to see Santa Claus this year at a southern New Jersey mall will now have to pay. That’s right, pay. The Philadelphia Inquirer reports that…
We are two weeks from Black Friday and the retail sector is looking very gray. Today Nordstrom plunged nearly 17 percent in early afternoon trading. This puts them on track for their worst day since July 2000. The retailer posted earnings after the close Thursday that missed estimates by 15…
When it comes to shopping in the U.S., Black Friday is the day that focuses on deals, shopping and retail sales. It’s the biggest day for shopping hands down in the U.S. and in fact has become a tradition with a cult like following. While most agree the shopping tradition…
U.S. consumer sentiment came in at higher than expected for October, according to a report released on Friday. The Thomson Reuters/University of Michigan’s preliminary October reading on the index was at 92.1. That was much higher than the previous month’s reading which was 87.2 and Reuters’ estimates which were 89….