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Retail Sales Ease Recession Worries
Retail Sales Ease Recession Worries
Oct 12, 2007 11:06 AM CDT

Retail Sales Ease Recession Worries

Unexpectedly rosy September numbers offset fears over housing, credit markets

(Newser) - Retail sales rose significantly more than expected in September. Analysts attribute the surge, announced today, to more jobs and better wages. Coming in the wake of gloomy numbers the big chains released yesterday, it should quiet fears of a recession. "You can't have a recession if consumers are continuing...

Slow Retail Growth Brings Down Prices

Frosty fall sales have affected even high-end stores

(Newser) - Dismal September sales figures—with just 1.7% growth, the weakest in five years—are prompting the nation's big retail chains to offer big markdowns in the coming weeks. More than a dozen US chains have fallen short of their third-quarter sales forecasts, reports the New York Times, and all...

Forecasts Down after Gloomy September for Retailers

Nordstrom et al. may have a blue, blue Xmas

(Newser) - Gloomy September reports led retailers to lower third-quarter forecasts, the New York Times reported today. With the exception of Wal-Mart—which raised profit forecasts slightly—big chain stores performed below expectations in September. Among the culprits are the credit crunch, warm weather and unflattering comparisons to last September. Even Wal-Mart...

Cargo Drop-off a Sign of Slow Economy

Observers stunned as port imports fall after years of growth

(Newser) - A drop in cargo at US ports has stunned analysts, who call the 1.4% fall more evidence of a stalled economy. A few factors are keeping foreign cargo at bay—the low dollar, wary buyers, and a cool housing market among them—yet observers still expressed shock. "When...

August Retail Sales Fail to Meet Forecasts

Gain of .3% drops to .4% loss if auto sales are excluded

(Newser) - Retail sales were up last month, but the .3% rise failed to meet expectations, and if automobile sales are excluded, sales actually fell by .4%—the steepest drop in a year. The August sales figures provide more fodder for an interest-rate cut when the Fed meets next week. “The...

Credit Crunch Doesn't Dampen Retail Numbers

Luxury, back-to-school shoppers drive August figures up

(Newser) - Better-than-expected retail sales figures for August, which built on healthy back-to-school and luxury shopping, raised hopes today that turbulent markets won't take too big of a bite out of holiday-season sales. Wal-Mart and Target made out well, as did luxury emporiums such as Saks. "It bodes well for Christmas,...

Sony Slashes Price of PlayStation 3

Floundering console still costs twice as much as a Wii

(Newser) - Sony is easing up on the retail price of its struggling PlayStation 3 by $100. The console will now cost $500—$20 more than the Xbox 360 and twice as much as the bestselling Nintendo Wii. Sony's CEO had promised to hold the price, but poor receipts appeared to necessitate...

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