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...Sharp falls at furniture and lighting stores drove household goods sales down 3.8 per cent, with clothing and department stores also reporting sharp declines....
...But it is department stores, rather than lenders, that may have most to lose as the credit cycle sours. The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...Non-store retailing, which includes online, contracted 1.5 per cent in March, while sales in department stores were down 3.8 per cent....
...I used to live in New York so take an interest in Macy’s, the department store. For some time it has traded more on its storied history than its retail prowess....
...Consumer companies: Do-it-yourself hardware retailer Lowe’s and department store Macy’s will report results, with investors keen for more commentary on the state of US consumer sentiment....
...“Department stores, clothing shops and household goods retailers reported sluggish sales too as consumers spent less on Christmas gifts, but had also purchased earlier during Black Friday promotions, to...
...He said household goods retailers, clothing shops and department stores all reported robust sales, with stores selling computers, sports equipment, toys and cosmetics benefiting in particular from promotions...
...Central insisted that the department stores were unaffected by Signa’s administration....
...US banking editor Joshua Franklin takes a deeper look at the bank’s stellar growth....
...Discount chain Dollar General, department store operator Macy’s and Spam maker Hormel report quarterly earnings this morning....
...Home improvement store Home Depot also reports earnings as well as energy groups Diamondback Energy and Chesapeake Energy and homebuilder Toll Brothers....
...Last summer, department store staff at Seibu went on strike for the first time in more than 60 years....
...In fact, one official in the US Department of Commerce’s Bureau of Economic Analysis went so far to say that “GDP is one of the greatest inventions of the 20th century”....
...Take a break from the news The Tortured Poets Department, Taylor Swift’s 11th album is released today....
...Department stores also reported contracting sales, with some retailers pointing to the drop in consumer confidence....
...Monday Bank of England governor Andrew Bailey delivers the annual National Farmers Union Henry Plumb Memorial Lecture in London Bank of Spain governor Pablo Hernández de Cos speaks at the Financial Markets...
...Here’s what else I’m keeping tabs on today: Consumer companies: Do-it-yourself hardware retailer Lowe’s and department store Macy’s will report results, with investors keen for more commentary on the state...
...One thing to start: The US House of Representatives has voted to approve a bill that would ban TikTok from app stores unless it is sold by its Chinese parent company....
...The Biden administration also asked for $9.15bn for the state department for humanitarian aid to Ukraine, Gaza and Israel, and $13.7bn for US border security....
...Christopher Luxon, a former Unilever and Air New Zealand executive and leader of the National party, who was sworn in on Monday, said this week that his administration’s “number-one job is to fix the economy...
...KaDeWe, Germany’s most famous department store, filed for insolvency....
...ONS chief economist Grant Fitzner said: “Retail sales grew strongly, with food sales bouncing back from the effects of the extra bank holiday, partly helped by good weather, and department stores and furniture...
...He returned to Australia almost a decade later as head of the economics department at the Australian National University’s Research School of Asian and Pacific Studies....
...Refined products degrade faster than crude oil, however, and are more difficult (or impossible) to store for extended periods....
...Department store Macy’s, grocery chain Kroger, and electronics retailer Best Buy will report earnings before Wall Street’s opening bell, while wholesaler Costco and luxury department store Nordstrom report...
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