Resources

September 18, 2014 Led by a steep 31.7 percent decline in multifamily production, nationwide housing starts fell 14.4 percent to a seasonally adjusted annual rate of 956,000 units in August, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.  Single-family housing starts dropped 2.4 percent... Read more »

September 18, 2014 Solid same store sales growth at Rite Aid caused second quarter profits to surge but looming pressure on pharmacy margins prompted the company to reduce its full year outlook. Rite Aid reported revenues of $6.5 billion for its second quarter ended August 30, representing a 3.9% lift credited to rising pharmacy same-store... Read more »

September 17, 2014 Builder confidence in the market for newly built, single-family homes rose for a fourth consecutive month in September to a level of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.  This latest four-point gain brings the index to its highest reading since November of 2005.... Read more »

September 16, 2014 Millennials will spend over $2 trillion on home purchases and rent in the next five years. Millennials’ housing aspirations are not so different than previous generations. Most plan to purchase homes and live in suburbs, and nearly all already have cars. Millennials will play a critical role in shaping housing demand over... Read more »

September 12, 2014 Hudson’s Bay Company is reaping the rewards of its acquisition last year of Saks.  The company’s retail sales soared 86.6% to $1.8 billion, from $948 million in the prior year. Consolidated same-store sales increased by 1.9% on a local currency basis, with increases of 1.1% at HBC’s department store group (DSG), 2.2%... Read more »

September 12, 2014 The National Retail Federation calculates that August retail sales – excluding automobiles, gasoline stations and restaurants – increased 0.5 percent seasonally adjusted month-to-month and 2.7 percent unadjusted year-over-year.  When combined with revisions to July, August sales indicate a consistent improvement in consumer confidence and spending but run contrary to August’s lackluster jobs... Read more »

September 12, 2014 Overall retail spending growth in August 2014 was the strongest in more than a year.  Retail dollar volume growth reached 2.8% in August – compared to 2.6% in July – as back-to-school shopping propelled spending growth in several retail categories. August’s overall average ticket growth remained positive at 1.2%, slipping slightly from... Read more »

September 11, 2014 Kroger reported total sales of $25.3 billion, representing an increase of 11.6% for its second quarter.  Total sales, excluding fuel, increased 12.4% in the second quarter over the same period last year. “We are winning with customers because we offer a full range of advantages including a great overall shopping experience, excellent... Read more »

September 11, 2014 In July, unemployment rates remained mixed in Europe, according to unemployment rates and employment growth data compiled and standardized by The Conference Board International Labor Comparisons (ILC) program. Unemployment decreased in Germany (from 5.0 to 4.9 percent), the Netherlands (from 6.8 to 6.7 percent) and Sweden (from 7.9 to 7.7 precent), but... Read more »