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Stocks Fall on Retail, Job Data
 Stocks Fall on Retail, Job Data 
MARKET Open
Feb 5, 2009 8:52 AM CST

Stocks Fall on Retail, Job Data

(Newser) - Stocks slid at the open today, following yet more negative numbers from retailers and the Labor Department, the Wall Street Journal reports. The Dow dropped 52 points, while the S&P fell 1%. The Nasdaq dropped 1.2%, weighed down by sub-par earnings from Cisco. New jobless claims ripped past...

Stocks Mixed on Retail News
 Stocks Mixed on Retail News 
MARKETS
Jan 8, 2009 3:32 PM CST

Stocks Mixed on Retail News

Wal-Mart falters, but Sears posts strong forecast

(Newser) - Stocks ended mixed today amid largely negative retail news and nervousness on unemployment, MarketWatch reports. Investors were shaken by poor December earnings and a reduced quarterly forecast posted by Wal-Mart, which managed to perform well through 2008. The Dow fell 27.24 to close at 8,742.46. The Nasdaq,...

Wal-Mart Sends Dow South
 Wal-Mart 
 Sends Dow 
 South 
MARKET Open
Jan 8, 2009 8:48 AM CST

Wal-Mart Sends Dow South

Retailers not doing so hot

(Newser) - Stocks tumbled at the open today after Wal-Mart slashed its earnings estimates, driving fear in the retail sector. The Dow dropped 62, while the Nasdaq and S&P fell 0.5% and 0.7% respectively. There was more bad news on the job front, with unemployment claims climbing to their...

Best Buy Offers Used iPhones for $50 Less

Retailer tries to undercut the competition with refurbished handsets

(Newser) - With an eye to newly frugal consumers, Best Buy is offering refurbished iPhone 3Gs for about $50 less than new handsets, Reuters reports. The retailer offers previously owned 8- and 16-gigabyte iPhones (returned in 30 days or less) for $149 and $249, respectively. Best Buy may be trying to undercut...

iPhones Hit Wal-Mart on Sunday
iPhones Hit Wal-Mart on Sunday
Dec 26, 2008 1:06 PM CST

iPhones Hit Wal-Mart on Sunday

Discount retailer shaves whopping $2 off price for gizmo

(Newser) - Wal-Mart shoppers will notice a flashy new phone on the shelves Sunday, but the price may induce sticker shock, Reuters reports. The iPhone is making its long-awaited Wal-Mart debut, but the 8-gigabyte version comes with a $197 price tag and requires a 2-year AT&T contract. Rumors had flown that...

Wal-Mart Will Pay $640M to Settle Wage Lawsuits

(Newser) - Wal-Mart will pay up to $640 million to settle 63 state and federal class-action lawsuits that alleged it forced employees to work off the clock and skip breaks, the New York Times reports. The lawsuits involve hundreds of thousands of former and current hourly wage workers. The settlement—it will...

Desperate Retailers Offer 24-Hour Shopping

More stores are extending hours to catch last-minute shoppers, night owls

(Newser) - With the holiday shopping season on track to be the worst in decades, more struggling retailers like Toys "R" Us, Macy's, and Wal-Mart are opting to keep their doors open 24 hours the last few days, hoping to entice last-minute shoppers and night-owls, reports the Wall Street Journal. "...

Recession Bites Into Apple
 Recession Bites Into Apple 
Dec 16, 2008 4:57 AM CST

Recession Bites Into Apple

November sales down, stock falls

(Newser) - Even apparently recession-proof Apple is now beginning to show signs of strain, and some analysts are predicting a major slowdown for the computer giant next year, the Wall Street Journal reports. US sales of Macs last month declined 1% over a year ago, while PC sales rose 2%. One analyst...

Sorry, Kids: No $99 iPhone at Wal-Mart

(Newser) - Rumors that Wal-Mart would offer an iPhone for $99 after Christmas proved unfounded, but the genesis of a misunderstanding that swept through business news outlets is intriguing, Fortune reports. Wal-Mart will indeed sell iPhones, and at a discount—a whopping $2 off list price. But a blogger’s report of...

Retailers Post Worst Month This Decade

But Wal-Mart, other discounters profit from downturn

(Newser) - November was the worst month for retail in a decade, reports the Financial Times, as stores from Macy's to Abercrombie & Fitch posted double-digit falls in sales. Mid-market stores like Target posted worse-than-expected numbers, while department stores crashed. But giant Wal-Mart, leading a small number of discounters, managed to...

Stocks Go South at Bell
 Stocks 
 Go South 
 at Bell 

MARKET Open
Dec 4, 2008 8:48 AM CST

Stocks Go South at Bell

Dow down 150

(Newser) - Stocks took a modest dip at the open, amid a weak round of retail sales numbers and general economic pessimism. The Dow fell 81 points, while the S&P and Nasdaq dropped 1.3% and 1.4% respectively, the Wall Street Journal reports. Stocks started to the downside yesterday, but...

Trampled Worker's Family Sues Wal-Mart

And more lawsuits coming over Black Friday trampling on Long Island

(Newser) - The family of the Wal-Mart temp worker who was trampled to death by a Black Friday stampede has filed a wrongful death lawsuit in New York's state Supreme Court against the retailer and the Long Island mall where the store is located. The family also filed notice that Nassau County,...

Was Wal-Mart Trampling a Crime?

Experts mixed on whether death can be prosecuted

(Newser) - Trampling a Long Island Wal-Mart worker in a frenzied rush for flat-screen TVs may be a prosecutable crime, reports Newsday, but experts are split. “In order to prosecute a homicide, you have to establish that someone caused a death," said a lawyer. "If I stepped on his...

Wal-Mart Death a Fitting Symbol of the Times
 Wal-Mart Death a Fitting
 Symbol of the Times
ANALYSIS
Nov 30, 2008 1:54 PM CST

Wal-Mart Death a Fitting Symbol of the Times

Desperate consumers, ailing economy make for dangerous combination

(Newser) - When shoppers charged into a Long Island Wal-Mart at the stroke of 5am Friday and trampled to death a temp who happened to get between them and the $388 flatscreen TVs inside,“it was a tragedy, yet it did not feel like an accident,” Peter Goodman writes in...

Wal-Mart Worker Killed in Black Friday Stampede

Another woman miscarries

(Newser) - Black Friday bargain hunters trampled an employee to death this morning at a Long Island Wal-Mart, the New York Daily News reports. Another woman had a miscarriage in the stampede. The unidentified employee had been trying to hold the unruly crowd back, but the crowd knocked him down and ran...

Cash Makes a Comeback
 Cash Makes a Comeback 
Nov 24, 2008 2:15 AM CST

Cash Makes a Comeback

But cash isn't king for retailers, who'll likely see bigger drop in sales

(Newser) - Americans are reverting to cash for purchases in increasing numbers, according to top retailers Wal-Mart, Target and JC Penney. The shift away from credit is expected to further reduce spending by consumers—who will be limited to cash-on-hand purchases—not just during the holiday season, but during what could be...

Soaring Jobless Claims Leave Stocks Flat

 Soaring Jobless Claims 
 Leave Stocks Flat 
MARKET Open
Nov 13, 2008 8:55 AM CST

Soaring Jobless Claims Leave Stocks Flat

Jobless claims reach 7-year high

(Newser) - Jobless claims rose to a 7-year high last week, but that didn’t appear to move the needle for stocks, which barely budged at today's open. The Dow crept up 66 points, while the S&P and Nasdaq rose 0.9% and 0.4% respectively. A staggering 32,000 filed...

Cash-Strapped Shoppers Remember Layaway

No-interest credit appeals to consumers

(Newser) - With consumers strapped and credit short, retailers are reviving an older kind of financing: layaway. Although the arrangement was considered obsolete when Wal-Mart closed its layaway department in 2006, retailers such as TJ Maxx, Goody’s, Marshalls and the Burlington Coat Factory have moved to offer the service, especially as...

Wal-Mart May Launch Own Credit Card

Retailer in talks; low rates, few fees could rattle lending industry

(Newser) - Wal-Mart sees an opening in the consumer credit market and is trying to start up its own credit-card operation, BusinessWeek reports. The retail giant is in talks with a veteran financial services firm to launch a card with low interest rates and few fees. It's not clear how far along...

Economic Squeeze Means Merry Christmas for Wal-Mart

Retailer expects blockbuster season as cash-strapped shoppers seek bargains

(Newser) - Wal-Mart is readying for bumper sales while most US retailers brace themselves for a miserable holiday season, the New York Times reports. Squeezed consumers are flocking to the discount chain as the economic downturn begins to bite. The firm is expected to report a modest increase in sales for October,...

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