G20 officials to wrestle over economic imbalances AP (November 06, 2009) ST. ANDREWS, Scotland (AP) - Finance officials from rich and developing countries face difficult negotiations over how to even out the imbalances weighing on the world economy as they gather Friday for a summit at a seaside hotel in Scotland.
Deja vu: Wal-Mart, Amazon, Target in DVD price war AP (November 06, 2009) NEW YORK (AP) - Wal-Mart Stores Inc. is upping the ante heading into the holiday season, trimming the online preorder prices of some upcoming DVDs following last month's price cut on books.
Minn. burger joint settles with McDonald's over ad AP (November 06, 2009) MINNEAPOLIS (AP) - A Minnesota hamburger parlor and McDonald's Corp. have settled a federal lawsuit over the phrase, "Who's your patty?"
American Eagle Outfitters Oct. sales fall AP (November 05, 2009) PITTSBURGH (AP) - Teen apparel retailer American Eagle Outfitters Inc. said Thursday that sales in stores open at least a year fell 5 percent in October, missing analyst expectations that the key metric would increase.
Northern Calif. town bans medical marijuana shops AP (November 05, 2009) RED BLUFF, Calif. (AP) - A small Northern California city has banned medical marijuana growing and dispensing, a move opponents say will bring lawsuits.
Starbucks says more customers visit and spend more AP (November 05, 2009) CHICAGO (AP) - More people are visiting Starbucks Corp. coffee shops this year than last, and they're spending more money when they do, an executive said Thursday.
Saks key sales metric in October edges up slightly AP (November 05, 2009) NEW YORK (AP) - Saks Inc. said Thursday sales at stores open at least a year rose 0.7 percent in October, beating analyst estimates of a decline.
Abercrombie & Fitch same-store sales drop AP (November 05, 2009) NEW ALBANY, Ohio (AP) - Abercrombie & Fitch Co. said Thursday that sales in stores open at least a year sank 15 percent in September, slightly worse than analysts predicted.
Macerich 3Q results fall 10 pct. as revenue dips AP (November 05, 2009) SANTA MONICA, Calif. (AP) - Mall operator Macerich Co. on Thursday said its third quarter funds from operations slid 10 percent as revenue fell.
October sales offer relief to merchants AP (November 05, 2009) NEW YORK (AP) - Consumers, enticed by cooler weather, early holiday discounts and an improving economy, spent a little more in October, handing the retail industry its second consecutive monthly sales gain after more than a year of declines.
Aeropostale sales metric up but misses estimates AP (November 05, 2009) NEW YORK (AP) - Teen and children's apparel retailer Aeropostale Inc. said Thursday that sales at stores open at least a year rose 3 percent in October, but analysts expected a higher increase and shares tumbled.
TJX posts 10 percent increase in same-store sales AP (November 05, 2009) FRAMINGHAM, Mass. (AP) - Discount retailer TJX Cos. said Thursday that sales in stores open at least one year rose 10 percent in October on strong demand at T.J. Maxx and Marshalls stores.
Gymboree 3rd-qtr sales comparison falls 4 percent AP (November 05, 2009) SAN FRANCISCO (AP) - The Gymboree Corp. on Thursday said its third-quarter sales at stores open at least a year fell 4 percent, but the children's retailer nevertheless raised its profit forecast for the period.
J.C. Penney Oct. sales comparison off 4.5 percent AP (November 05, 2009) PLANO, Texas (AP) - J.C. Penney Co. Inc. on Thursday said sales at stores open at least a year fell 4.5 percent in October, hurt in part by Halloween landing on Saturday.
Target October sales comparison nearly flat AP (November 05, 2009) MINNEAPOLIS (AP) - Discount retailer Target Corp. said Thursday sales in stores open at least one year edged down 0.1 percent in October as consumers bought necessities like healthcare products but shied away from higher-ticket items like electronics and sporting goods.
Eurozone retail sales drop in Sept AP (November 05, 2009) BRUSSELS (AP) - Retail sales in the 16 countries that use the euro dropped by 0.7 percent in September, European Union statistics showed Thursday, evidence the economic recovery will be slow and bumpy.
Fred's key sales measure rises in October AP (November 05, 2009) MEMPHIS, Tenn. (AP) - Discount retailer Fred's Inc. said Thursday sales in stores open at least a year edged up 0.4 percent in October, missing analyst expectations.
Limited Brands Oct. same-store sales fall AP (November 05, 2009) COLUMBUS, Ohio (AP) - Limited Brands Inc. said Thursday its October sales at stores open at least a year dropped 4 percent, falling short of Wall Street predictions.
Wendy's/Arby's earns $14.7 million in 3Q AP (November 05, 2009) CHICAGO (AP) - Fewer customers gulped down Arby's roast beef sandwiches at the third quarter, as more and more fast-food diners stayed home because of the recession, Wendy's/Arby's Group Inc. said Thursday.
'Clunker' data show pickup-for-pickup trades AP (November 05, 2009) WASHINGTON (AP) - Billed as a way for the government to put more fuel-efficient vehicles on highways, the popular $3 billion Cash for Clunkers program mostly involved swaps of old Ford or Chevrolet pickups for new ones that got only marginally better gas mileage, according to an analysis of new federal data by The Associated Press.
Judge: Mich. man can sue store he robbed AP (November 04, 2009) MOUNT CLEMENS, Mich. (AP) - A Michigan judge says a man who claims he was chased, shot and beaten by workers at a store he'd just robbed can sue the men. But only if he comes up with $10,000 within two weeks.
Shoppers, small businesses planning to spend less AP (November 03, 2009) (AP) - TIGHT-FISTED?: A third of U.S. adults said they would spend less this year than they did in 2008 on gifts, while 49 percent would spend about the same amount, according to a Consumer Reports poll on holiday shopping.
EU lifts 2010 growth forecast AP (November 03, 2009) BRUSSELS (AP) - The European Commission on Tuesday predicted that the EU and eurozone will grow in 2010 at a modest rate of 0.7 percent as the economy moves from a sharp recession to a hesitant and fragile recovery.
Landry's Restaurants OKs $1.2B acquisition offer AP (November 03, 2009) HOUSTON (AP) - The chairman and CEO of Landry's Restaurants Inc. finally got what he was after Tuesday, as the restaurant owner's board approved his $1.2 billion all-cash offer to take the company private.
CDC: Contaminated beef may be linked to 2 deaths AP (November 02, 2009) ROCHESTER, N.Y. (AP) - Two deaths and 26 other illnesses may be linked to fresh ground beef that has been recalled because it might be contaminated with E. coli bacteria, a federal health official said Monday.
Forrester projects rise in online holiday sales AP (November 02, 2009) NEW YORK (AP) - Forrester Research Inc. is projecting an 8 percent increase to $44.7 billion in online holiday sales compared with a year ago as bargain hunters turn to the Web for deals.
Obama to lay out plans to help small businesses AP (October 29, 2009) WASHINGTON (AP) - President Barack Obama speaks Thursday morning to small business leaders about the administration's plans to offer them assistance.
OfficeMax moves to 3Q profit but misses estimates AP (October 29, 2009) NAPERVILLE, Ill. (AP) - Office-supply retailer OfficeMax Inc. said Thursday it moved to a third-quarter profit from a year-ago period weighed down by a massive write-down. But results missed analyst estimates, sending shares sharply lower in premarket activity.
AutoNation posts profit in 3Q on lower costs AP (October 29, 2009) RICHMOND, Va. (AP) - AutoNation Inc., the nation's largest automotive retailer, said Thursday it made money in the third quarter as lower costs and a boost from the Cash for Clunkers program helped it recover from a loss in the year-ago period.
Geithner says economy on the mend AP (October 29, 2009) WASHINGTON (AP) - Treasury Secretary Timothy Geithner said he sees positive signs that the economy is recovering, although the recession remains "alive and acute" for families dealing with unemployment and facing home foreclosure.
Judge: Fresno pot shops must close until trial AP (October 29, 2009) FRESNO, Calif. (AP) - Nine marijuana dispensaries in Fresno must shut their doors while attorneys battle in court over whether city zoning laws banning dispensaries can trump the state laws that allow them.
Economy grows in 3Q, signals end of recession AP (October 29, 2009) WASHINGTON (AP) - The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. It's the strongest signal yet that the economy has entered a new, though fragile, phase of recovery and that the worst recession s
Office Depot sees wider 3Q loss, but beats Street AP (October 29, 2009) BOCA RATON, Fla. (AP) - Office-supply chain Office Depot Inc. on Thursday said its third-quarter loss widened on restructuring charges and a continued sales slump amid the recession.
Burger King profit slips for first quarter AP (October 29, 2009) CHICAGO (AP) - Burger King Corp.'s fiscal first-quarter profit slipped 6 percent as recession-weary diners stayed home or went bargain-hunting at competitors, the company said Thursday.
Durable goods orders rise 1 percent in September AP (October 28, 2009) WASHINGTON (AP) - Orders to U.S. factories for big-ticket manufactured goods rose in September as the biggest jump in demand for machinery in 18 months offset weakness in commercial aircraft and autos.
Educators urge lower lottery profits for Ore. bars AP (October 28, 2009) SALEM, Ore. (AP) - Education advocates are pressing the Oregon Lottery Commission to reduce what they say are overly generous payouts to bars and taverns that host the state's video gambling machines.
Cabela's plans first retail store in Colorado AP (October 28, 2009) SIDNEY, Neb. (AP) - Outdoor outfitter Cabela's has announced plans to build its first retail store in Colorado next year.
Biden tells Ohio stimulus program helping economy AP (October 27, 2009) CLEVELAND (AP) - Vice President Joe Biden told an Ohio audience that the federal economic stimulus package is helping to revive the U.S. economy and has helped stabilized the financial markets.
Chipotle shares fall after 3Q results AP (October 23, 2009) CHICAGO (AP) - Shares of fast food chain Chipotle Mexican Grill Inc. fell Friday, a day after the burrito maker offered disappointing growth forecasts for 2010.
Pam Anderson launches anti-seal hunt campaign AP (October 23, 2009) TORONTO (AP) - Former "Baywatch" star Pamela Anderson wants to save the seals from the annual hunt on Canada's East Coast.
Industry halts food label program over FDA concern AP (October 23, 2009) PORTLAND, Ore. (AP) - The Smart Choices nutrition labeling program, created voluntarily by nine large U.S. manufacturers, is halting after federal regulators said such systems could mislead consumers, officials with the labeling group said Friday.
Home sales rise 9.4 pct in Sept., beats forecast AP (October 23, 2009) WASHINGTON (AP) - Home resales rose in September to the highest level in more than two years, beating expectations, as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.
Steak n Shake sells unit to Western Sizzlin AP (October 23, 2009) INDIANAPOLIS (AP) - Restaurant operator The Steak n Shake Co. said it sold a subsidiary to Western Sizzlin Corp. for $38.8 million.
German business confidence rises in October AP (October 23, 2009) FRANKFURT (AP) - German business confidence rose for a seventh consecutive month in October as Europe's largest economy showed more signs of recovery and firms' outlook for exports improved, a survey found Friday.
Store clerk accused of stealing $1M lottery prize AP (October 22, 2009) AUSTIN, Texas (AP) - A 25-year-old convenience store clerk pocketed a customer's $1 million winning lottery ticket, claimed the prize and skipped town, possibly back to his native Nepal, authorities said.
J. Crew boosts profit outlook as sales improve AP (October 22, 2009) NEW YORK (AP) - Clothing retailer J. Crew Group Inc. significantly boosted its fiscal third-quarter profit forecast on Thursday, citing better-than-expected sales and margins.
McDonald's sees profit climb 6 pct AP (October 22, 2009) CHICAGO (AP) - McDonald's Corp. profit climbed almost 6 percent in the third quarter, as U.S. customers gobbled up its newest, more expensive Angus burger, the world's largest burger chain said Thursday.
Ahead of the Bell: Amazon to report 3Q results AP (October 22, 2009) SAN FRANCISCO (AP) - Amazon.com Inc. is slated to give its third-quarter report after the market close on Thursday. The results will show investors how much consumers are spending at the online retailer despite the still-sluggish economy.
Ahead of the Bell: Wal-Mart AP (October 21, 2009) NEW YORK (AP) - Some analysts expect Wal-Mart Stores Inc. may announce plans Wednesday at its analysts' meeting that it will accelerate U.S. store growth next year. Wall Street is also looking to hear details of more price-cutting strategies as it heads into the holiday season.
Earnings Preview: Amazon seen posting solid 3Q AP (October 21, 2009) SAN FRANCISCO (AP) - Amazon.com Inc. reports its earnings for the third quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period.
ShopperTrak forecasts slight holiday sales rise AP (October 20, 2009) NEW YORK (AP) - ShopperTrak, a retail research firm, predicted Tuesday that total holiday sales will rise 1.6 percent compared with a year ago, which would be good news for retailers compared with last year's steep decline.
Coach fiscal 1Q profit falls slightly; sales rise AP (October 20, 2009) NEW YORK (AP) - Coach Inc.'s fiscal first-quarter profit fell slightly, but revenue rose as new, lower-priced handbag lines helped juice sales.
Supervalu fiscal 2Q profit falls 42 pct AP (October 20, 2009) MINNEAPOLIS (AP) - Grocery chain Supervalu says the recession is still hurting its bottom line as food prices remained low, stores closed and strained customers continued to pare spending despite deep discounting.
IPhone helps Apple profit rise 47 pct; stock leaps AP (October 19, 2009) SEATTLE (AP) - Apple Inc. increased its net income 47 percent in the most recent quarter as more people bought Mac computers and gave in to the iPhone craze. The results sent Apple shares surging in extended trading Monday to an all-time high.
Toys R Us adds layaway for big-ticket items AP (October 19, 2009) NEW YORK (AP) - Toys R Us Inc. is introducing a layaway program for larger-ticket items such as bikes and cribs ahead of the holiday season, the company said Monday.
Hasbro 3Q net income rises 8.8 percent AP (October 19, 2009) NEW YORK (AP) - Hasbro says its profit grew 8.8 percent in the third quarter, helped by lower costs and slightly higher sales of Transformers and G.I. Joe toys.
Wal-Mart and Amazon.com trade price cuts on books AP (October 16, 2009) NEW YORK (AP) - An online book special offered by Wal-Mart Stores Inc. is turning into a full-fledged price war with Amazon.com.
Safeway 3Q profit drops 35 percent on slow sales AP (October 15, 2009) PLEASANTON, Calif. (AP) - Safeway Inc.'s third-quarter profit fell 35 percent because of price-cutting and lower sales at its supermarkets.
Consumers show signs of life as prices stay low AP (October 15, 2009) WASHINGTON (AP) - Consumers may be slowly regaining their appetite to shop, as the prices they encounter in stores remain low.
General Motors aiming to beat China market growth AP (October 14, 2009) SHANGHAI (AP) - General Motors Co. is aiming to beat the already fast pace of growth in the Chinese market, with sales in 2009 possibly surpassing 1.6 million vehicles, its China President Kevin Wale said Wednesday.
Sept. retail sales fall 1.5 percent post Clunkers AP (October 14, 2009) WASHINGTON (AP) - Retail sales declined in September by the largest amount this year as car sales plummeted following the end of the government's popular Cash for Clunkers program. But outside of autos, sales were better than expected.
Retail sales fall 1.5 percent in September AP (October 14, 2009) WASHINGTON (AP) - Retail sales declined in September by the largest amount this year as car sales plummeted following the end of the government's popular Cash for Clunkers program.
Humane Society: IHOP's eggs aren't 'cruelty free' AP (October 14, 2009) FRESNO, Calif. (AP) - The Humane Society of the United States wants the International House of Pancakes to stop claiming the eggs it uses are "cruelty free."
China auto sales jump 78 percent in September AP (October 13, 2009) SHANGHAI (AP) - China's vehicle sales vaulted 78 percent in September from a year earlier, widening a lead over the U.S. as the world's top auto market, with sales spurred by tax cuts and government stimulus spending.
Indian vehicle sales rise 17 percent in September AP (October 13, 2009) MUMBAI, India (AP) - India's auto sales rose 17.1 percent in September from a year earlier to 212,975 vehicles, as holiday buying, easier credit and rising consumer confidence fueled growth in India's auto sector.
Survey: Most economists see recovery beginning AP (October 12, 2009) NEW YORK (AP) - More than 80 percent of economists believe the recession is over and an expansion has begun, but they expect the recovery will be slow as worries over unemployment and high federal debt persist.