Resources

January 9, 2014 The search is on for a new president and COO at Family Dollar following the resignation of Michael Bloom amid deteriorating financial results and a 3% same store sales decline in December. Bloom, who recently donned a disguise to appear in an episode of the CBS show “Undercover Boss,” spent two years... Read more »

CINCINNATI–(BUSINESS WIRE)–Jan. 8, 2014– Macy’s, Inc. (NYSE:M) today announced that its comparable sales, together with comparable sales from departments licensed to third parties, rose by 4.3 percent in the 2013 holiday shopping season – the months of November and December combined – compared with the same period last year. November/December 2013 comparable sales were up... Read more »

The Conference Board Consumer Confidence Index, which had decreased in November, rebounded in December.  The Index now stands at 78.1, up from 72.0 in November.  The Present Situation Index increased to 76.2 from 73.5.  The Expectations INdex increased to 79.4 from 71.1 last month. “Consumer confidence rebounded in December and is now close to pre-government... Read more »

WSJ, WASHINGTON—U.S. industrial output in November surpassed its prerecession peak for the first time, the latest sign of momentum for the economic recovery. Industrial production, which measures the output of U.S. manufacturers, utilities and mines, surged a seasonally adjusted 1.1% from the prior month, the Federal Reserve said Monday. That was the biggest jump in... Read more »

Retailers saw sales decrease the week ending December 7 of 1.6% versus Thanksgiving week. However, Cyber Monday sales of online shopping reached $1.7 billion, an increase of 18% over 2012. This is recorded as the “heaviest online spending day” by comScore. Cyber Monday was the second day this holiday season to exceed $1 billion –... Read more »

Economic activity in the manufacturing sector expanded in November for the sixth consecutive month, and the overall economy grew for the 54th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report on Business. The PMI* registered 57.3 percent, an increase of 0.9 percentage point from October’s reading of 56.4 percent. The... Read more »

Visa provided some details on holiday transaction volumes and they are very encouraging. Nov 28 – $0.99 billion spent (up 30% from LY), 14 million transactions (up 29% from LY) Nov 29 – $1.7 billion spent (up 24% from LY), 21 million transactions (up 24% from LY) Nov 30 – $1.3 billion spent (up 37%... Read more »

Even before its final round of deals kicked in at Walmart on Friday morning, the retailer announced that sales had exceeded last year’s record-breaking results with 10 million transactions completed between 6 p.m. and 10 p.m. on Thanksgiving. “Our Black Friday events were bigger, better, faster, cheaper and safer than ever.  More customers chose us,... Read more »

WASHINGTON—U.S. employers continued to add jobs at a steady pace and the unemployment rate fell in November, a sign of stronger economic growth that may intensify debate within the Federal Reserve about reducing central bank bond purchases as early as this month. U.S. payrolls rose by 203,000 last month, the Labor Department said Friday. The... Read more »