(Reuters) – Retailers have grappled with rising commodity costs, thinning margins and jittery consumer confidence all year. Now they’re set for the ultimate test: The make-or-break holiday shopping season, which accounts for 20-to-30 percent of all retail sales.
Despite the still-sluggish economy, holiday retail sales are expected to rise 2 to 6 percent this year over the same time last year, according to analysts. In actual dollars, holiday spending is expected to reach $465 billion, according to the National Retail Federation.
Oct 25 (Reuters) – U.S. shoppers who bought jeans, T-shirts
and socks lately have had to shell out more cash. They’d better
get used to it.
Even as cotton prices recede from all-time highs set in the
spring, retailers and clothing makers are set to keep most of
the price rises they implemented earlier in the year, when they
sought to contain the damage to margins. And most will only
offer discounts when they face pressure from their rivals.
(Reuters) – Shoemaker Crocs Inc (CROX.O: Quote, Profile, Research, Stock Buzz) lowered its outlook for the first time in three years as it faces softening sales at its stores, amid a weak economy in Europe and shaky consumer confidence in the United States.
The dim outlook sparked a sell-off in the Crocs’ stock, wiping out nearly 40 percent of the company’s market value in extended trading. They were trading at $17.08 in after-market trade, after closing at $26.64 on Monday on Nasdaq.
Oct 11 (Reuters) – Jones Group Inc , a maker of
clothing, shoes and accessories, is in talks to sell off its
stagnating jeanswear division as it focuses on its more
profitable luxury brands, sending its shares up 12 percent.
Jones said it is in talks with Israel’s Delta Galil
Industries Ltd , a maker of private-label clothing, to
sell the jeans unit for between $350 million and $400 million.
(Reuters) – Groupon launched its online retail arm Groupon Goods for its American subscribers on Wednesday, moving beyond daily group discounts to compete with leaders like Amazon Inc.
The leading daily deals website sent emails to select customers on Wednesday, calling out Groupon Goods, with discounts on home furnishing products like LED TVs, coffee brewers and pilates.
(Reuters) – Nike Inc (NKE.N: Quote, Profile, Research, Stock Buzz) topped Wall Street’s profit estimates as the world’s biggest athletic shoe and clothing maker staved off margin pressure with strong sales and price increases, sending its shares up more than 5 percent in trading after the bell.
The company, which also owns brands like Converse, Cole Haan, Umbro and Hurley, said sales rose 35 percent in emerging markets and 15 percent in Greater China. Together these regions contribute about 23 percent of Nike’s business.
BANGALORE (Reuters) – Amazon’s cloud computing unit has taken steps to avoid a repeat of the outage of its cloud services platform earlier this year and customer interest has only grown since, a top company executive said.
The outage in April, which knocked out such sites as Reddit and Foursquare, had raised questions about the future and maturity of cloud computing.
BANGALORE, Sept 22 (Reuters) – Amazon’s cloud
computing unit has taken steps to avoid a repeat of the outage
of its cloud services platform earlier this year and customer
interest has only grown since, a top company executive said.
The outage in April, which knocked out such sites as Reddit
and Foursquare, had raised questions about the future and
maturity of cloud computing.
Sept 2 (Reuters) – Liz Claiborne Inc said it would
sell its money losing international Mexx business to a joint
venture with Gores Group LLC, allowing the women’s clothing
maker to cut down on debt and focus on its core brands.
Shares of the company rose 12 percent in morning trade on
the New York Stock Exchange.
BANGALORE, Aug 31 (Reuters) – Shoppers may not be feeling
too good about the economy, but that is not stopping them from
adding clothes and shoes to their wardrobes, a recent study
A report by IBM, to be released later on Wednesday, says
demand for apparel and accessories will stay strong this fall,
as parents spend on their kids, and then on themselves.