J. C. Penny Co. reported that its first-quarter profit fell by 50 percent on lower consumer spending and it forecast a similar profit drop for its current quarter.
J.M. Smucker Company reported on Tuesday it has acquired the Knott's Berry Farm from ConAgra Foods, Inc. for an undisclosed amount.
Copper prices fell slightly on Tuesday as the dollar rallied against the euro on better U.S. retail sales data, but prices may rise on supply concerns from South America.
U.S. stocks fell at Tuesday's start, after the government said soaring fuel prices did not hinder consumers from shopping as much as expected and Oppenheimer & Co.'s Meredith Whitney cut profit projections for Wall Street's biggest securities firms.
Best Buy Co., the largest U.S. electronics retailer, will open its first stores in Europe by paying $2.1 billion for a 50 percent stake in Europe's largest cell phone retailer, the companies announced Thursday.
The Home Depot Inc., the biggest U.S. home improvement retailer, said on Thursday that it will close 15 underperforming stores, impacting about 1,300 employees mostly in the Midwest U.S.
The British Retail Consortium (BRC) has released a new survey suggesting that consumers are switching from credit cards to cash, thanks to the slowdown in the economy.
JC. Penney Co., the third largest U.S. department store chain, said it will open fewer new stores this year than originally planned and it will increase its efforts to attract frugal shoppers away from rivals by revising its marketing pitch and adding new brands.
Fashion company Burberry Group has reported a rise in total revenue of 19 per cent for the half year to 31 March 2008.
Leading U.S. retailers had a mixed March, with discount and wholesale retailers reporting better sales in March than higher priced department stores and specialty retailers as shoppers face a slowing U.S. economy which may already be in a mild recession.
Retailer Lowe's Cos reported lower quarterly profit on Monday and forecast full-year earnings below Wall Street estimates, citing challenging days to come as the slumping housing market hurts sales.
India's largest IT services, business solutions and outsourcing company, Tata Consultancy Services (TCS) has launched its second Global Delivery Center (GDC) near Hyderabad even as it announced reorganization of its global operations for better efficiency.
January retail sales were the worst in nearly four decades, adding further tension to a stumbling economy, according to Nordstrom Inc.
The outlook for the economy dipped on Friday as employers cut 17,000 jobs non-farm jobs in January, the first drop in 4 and a half years, which overturned analyst estimates that 69,000 new jobs would be added to the economy.
Dell will close about 140 retail kiosks in the U.S., in an effort to adjust its evolving product distribution strategy.
Guitar Hero video game hit a industry record on Monday, generating $1 billion in sales in North American retail within 26 months, a market research reported.
Virtual worlds, mobile coupons and bar-code readers on cell phones are the next technology wave that U.S. chain stores must ride if they hope to stay competitive in the fast-changing world of global retail.
Dell Inc returned to double-digit percentage growth in global PC shipments in the fourth quarter as its new retail sales strategy began to pay off, while rival Hewlett-Packard Co's growth slowed, technology researcher IDC said on Wednesday. Overall, global personal computer sales rose a healthy but less-than-expected 15.5 percent in the fourth quarter, and economic concerns were likely to cut into future demand, IDC said.
The dollar extended its declines against the euro and yen on Tuesday after data showed U.S. retail sales for December were below market expectations.
Dream Big is the theme of the National Retail Federation's annual conference taking place this week and that is likely to be what many U.S. retailers will do to survive 2008 -- dream big of greener pastures.
Retailers reported weaker than expected December sales results on Thursday, reflecting a 2007 holiday shopping season that is turning out to be one of the weakest in years due to a weakening job market and the ongoing housing slump.
The toll that economic uncertainty has taken on U.S. consumer electronics retailers was made very clear on Tuesday by Circuit City CEO Phil Schoonover. I am not smiling, Schoonover said, when asked to reflect on his 2007 sales.