Journalist, New York
Phil's Feed
Nov 20, 2013

U.S. retailers brace for margin hit from holiday discounts

By Lisa Baertlein and Phil Wahba

(Reuters) – Shoppers like stay-at-home mom Susan Sterling are American retailers’ worst nightmare this holiday season.

The 52-year-old from Mountain Home, Idaho expects to spend only about $200 (£124.02) on holiday gifts, $100 less than last year, and plans to buy only what’s on sale or clearance.

Nov 20, 2013

Analysis: U.S. retailers brace for margin hit from holiday discounts

By Lisa Baertlein and Phil Wahba

(Reuters) – Shoppers like stay-at-home mom Susan Sterling are American retailers’ worst nightmare this holiday season.

The 52-year-old from Mountain Home, Idaho expects to spend only about $200 on holiday gifts, $100 less than last year, and plans to buy only what’s on sale or clearance.

Nov 14, 2013

Wal-Mart’s U.S. sales miss mark as shoppers visit less

Nov 14 (Reuters) – Wal-Mart Stores Inc on Thursday
reported its third straight quarterly decline in U.S. comparable
sales, hurt by a drop in shopper visits, and the world’s largest
retailer gave a disappointing profit forecast for the holiday
season.

The company said comparable sales at its U.S. stores, its
biggest unit, fell 0.3 percent in the third quarter ended on
Oct. 31 in part because of disappointing toy sales and price
reductions on televisions.

Nov 13, 2013

Macy’s sales turnaround adds to holiday sales hopes

By Phil Wahba

(Reuters) – Sales at Macy’s Inc (M.N: Quote, Profile, Research) rebounded in the latest quarter, joining signs at other retailers that consumers will spend this holiday season if the price is right.

Wednesday’s earnings report reassured investors that Macy’s was back on track after a disappointing prior quarter, when it said it had not offered enough lower-priced merchandise in a difficult economy. Shares of the retailer closed up 9.4 percent at $50.68 (31.59 pounds).

Nov 13, 2013

Macy’s sales rise more than expected, helped by promotions

By Phil Wahba

(Reuters) – Macy’s Inc (M.N: Quote, Profile, Research) on Wednesday reported a rebound in sales, helped by more promotions, and the U.S. department store chain said business was improving as the holiday season nears.

The news reassured investors that the retailer was back on track after a disappointing prior quarter, when it said it had not offered enough lower-priced merchandise in a difficult economy. Shares of Macy’s rose 9.5 percent to $50.74 (31.67 pounds) in midday trading.

Nov 13, 2013

Macy’s sales rise more than expected; shares jump

By Phil Wahba

(Reuters) – Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz) on Wednesday reported higher-than-expected quarterly sales and earnings, helped by more promotions, and the department store chain said business was improving as the holidays near.

Shares of Macy’s rose 9 percent to $50.48 in morning trading on relief that the retailer was back on track after posting disappointing sales in August for the prior quarter.

Nov 11, 2013

Analysis: U.S. retailers tread tight path in shortened holiday race

NEW YORK (Reuters) – U.S. retailers have little room for error in the fast-approaching and shortened holiday shopping season, a period that typically generates 30 percent of annual sales.

A late Thanksgiving – the unofficial kickoff for holiday sales – has lopped six days off the gift-buying season.

Nov 11, 2013

U.S. retailers tread tight path in shortened holiday race

NEW YORK, Nov 11 (Reuters) – U.S. retailers have little room
for error in the fast-approaching and shortened holiday shopping
season, a period that typically generates 30 percent of annual
sales.

A late Thanksgiving – the unofficial kickoff for holiday
sales – has lopped six days off the gift-buying season.

Nov 7, 2013

Penney monthly same-store sales rise for first time since 2011

By Phil Wahba

(Reuters) – J.C. Penney Co Inc (JCP.N: Quote, Profile, Research, Stock Buzz) on Thursday reported its first monthly same-store sales gain in nearly two years on the back of deep discounts and the decision to resume stocking merchandise that the retailer’s long-time shoppers liked.

Shares were up 4.9 percent to $8.08 in premarket trading after the company said comparable sales rose 0.9 percent in October.

Nov 7, 2013

U.S. retailers’ October sales rise, but holiday concerns remain

By Phil Wahba

(Reuters) – Costco Wholesale Corp and Victoria’s Secret parent L Brands Inc were among the major U.S. retailers to report same-store sales gains for October, but the outlook remained downbeat heading into the holiday season.

Costco on Thursday reported a slightly bigger-than-expected 3 percent gain in sales at stores open at least a year. Fresh food was among its best-selling categories, and consumer electronics was the weakest.

    • About Phil

      "Phil Wahba joined Reuters in 2008 and has covered the exchanges, equity capital markets (IPOs), corporate bankruptcies and now covers retailers such as department stores and booksellers."
      Joined Reuters:
      2008
      Languages:
      English, French, Spanish, German and Danish.
    • Follow Phil