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May 13, 2014 U.S. retail sales barely rose in April and a gauge of consumer spending slipped, which could temper hopes of a sharp acceleration in economic growth in the second quarter. The Commerce Department said on Tuesday retail sales edged up 0.1 percent last month, held back by declines in receipts at furniture, electronic... Read more »

May 9, 2014 Gap had a good April in terms of sales, and a large part of the reason is the company’s Old Navy banner. The company reported that April net sales increased 10% to $1.33 billion for the four-week period ended May 3, versus $1.21 billion last year.  Gap’s comparable sales for April 2014... Read more »

May 8, 2014 Fred’s plans to implement a long-term marketing strategy stressing everyday low pricing and the convenience of a smaller box to help bolster sales against what the company describes as “intense competitive pressures.”  The company’s pharmacy operations continue to grow, however. Fred’s reported $150 million in sales for the four weeks ended May... Read more »

May 8, 2014 The timing of Easter this year left Costco with 27 days of sales in April, rather than last year’s 28.  But despite the Easter holiday shift, Costco still came out on top with a 7% increase in net sales that reportedly beat analysts’ expectations. The company reported net sales of $8.56 billion... Read more »

May 7, 2014 Supervalu, the owner of Cub Foods, along with four Twin Cities-based independent grocery retailers, have each entered into definitive agreements to acquire select Rainbow Foods grocery stores.  In total, they agreed to acquire 18 Rainbow grocery stores, including 13 Rainbow pharmacies and three Rainbow liquor stores in Minnesota. Jerry’s Enterprises, Haug Enterprises,... Read more »

May 7, 2014 Despite the Easter holiday shift, Whole Foods reported second quarter revenue of $3.32 billion, a record increase of 10% from the prior-year quarter.  But the record was not enough for Wall Street, which expected $3.34 billion. The company’s earnings per share of 38 cents for the quarter also came in below expectations... Read more »

May 8, 2014 Builder confidence in the single-family 55+ housing market for the first quarter of 2014 is up year over year, according to the National Association of Home Builders’ (NAHB) latest 55+ Housing Market Index (HMI) released today.  Compared to the first quarter of 2013, the single-family index increased 4 points to a level... Read more »

May 7, 2014 The health of housing is key for the overall state of the U.S. economy and housing stands poised to serve as an engine of job growth with the right policies in place, the National Association of Home Builders (NAHB) told Congress today. Testifying before the Senate Banking Committee’s Subcommittee on Economic Policy... Read more »

May 6, 2014 Office Depot said it plans to close 400 of its 2,000 stores as it looks to realize efficiencies related to its merger with OfficeMax. An estimated 150 of the stores will close this year, according to the company, which reported first quarter results and continued weakness in same store sales.  The company... Read more »