As students study for final exams, the retail industry is gearing up for its biggest test so far this year -- the back-to-school shopping season. After cutting costs to cope with slack consumer demand during the recession, retailers hope the economy will start to recover in the second half of the year.
Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) CEO Jeroen van der Veer said on Monday that looking at current poor margins, the world has more oil refining capacity than needed.
Most retailers posted disappointing May sales as recession-weary shoppers cut spending at stores ranging from high-end chains to discounters like Target Corp , pushing down retail shares.
U.S. stocks rose on Thursday as financial shares gained and encouraging data on jobless claims and business productivity offset disappointing May retail sales.
U.S. stock index futures pointed to a higher open on Wall Street on Thursday, following the previous session's sell-off, while investors braced for monthly sales data from retailers.
U.S. stock index futures pointed to a higher open on Wall Street on Thursday, following the previous session's sell-off, while investors braced for monthly sales data from retailers.
Chrysler LLC reported on Tuesday total unit sales of 79,010 for the month of May units, representing the best retail sales month of 2009 while the company also had an above average performance compared to industry.
U.S. retail giants in home furnishings, food and clothing are expected to push into emerging markets such as Mexico, Brazil and China, once the U.S. economy and cash flows improve, executives said.
U.S. retailers, which have banked heavily on cost cuts to guard margins in the recession, may be running out of ways to trim expenses further -- putting future profits in jeopardy, unless consumers open their wallets soon.
Small, nimble retailers are taking advantage of the recession and larger rivals' woes as they move into abandoned U.S. store fronts with short-term leases negotiated at a discount.
Target Corp reported a better-than-expected profit on Wednesday as the No. 2 U.S. discount retailer offset sluggish sales by keeping a tight control on inventory and expenses, while its credit card business was profitable.
Home Depot Inc reported higher-than-expected quarterly earnings as massive cost cuts offset weak sales, but its shares fell as investors found the results disappointing in comparison with those of smaller rival Lowe's Cos Inc .
Stocks moved higher on Tuesday as investors bet that April's slide in U.S. housing starts and permits signaled that the housing market may soon stabilize as the supply of new homes dwindles.
Apple Inc could offer lower-cost versions of the iPhone, and without the obligatory monthly data service plan, in hopes of significantly boosting sales, according to one influential technology analyst.
Stocks rose on Monday as solid results from the No. 2 U.S. home improvement retailer, Lowe's Cos Inc , fueled hopes the recession was easing and consumer spending stabilizing.
Kuwaiti conglomerate Al Ghanim Industries is looking at industrial acquisitions in Asia to help it diversify away from the Gulf region, where its revenues have been flat this year, the CEO said on Saturday.
Retailers J.C. Penney Co Inc and Abercrombie & Fitch Co posted results that showed further evidence U.S. consumers were still cutting back on non-essential items, with Penney also warning profit for the year would be worse than analysts expected.
Asian stocks took a hit on Thursday as weak U.S. retail sales underscored the long road to economic recovery, prompting profit-taking on winning bets in equities, higher-yielding currencies and commodities over the past two months.
Stocks tumbled on Wednesday as worse-than-expected retail sales hurt shares in the sector, including Wal-Mart Stores Inc, and dampened recent enthusiasm over the economic outlook.
Stocks slumped on Wednesday after retail sales data came in worse than expected, hurting shares in the sector including Wal-Mart Stores Inc and blurring the economic outlook.
U.S. stocks retreated on Wednesday after key U.S. retail sales data came in worse than expected, dampening hopes of a quick economic recovery.
Stocks fell on Wednesday after key U.S. retail sales data came in worse than expected, dampening hopes of a quick economic recovery.
