Department Stores

Luxury retailer Saks Inc. (NYSE: SKS) restated its Q3 profit to add a $4.4m tax benefit, bumping its net income to $6.3m from $1.9m. It originally reported on Nov. 17 that it had earned its first quarterly profit in six quarters by cutting expenses and promotions. The $4.4m had been put aside for a...

Goldman Sach’s (NYSE: GS) sector overview of the retail sector highlights the impact on apparel sales in the U.S. owing to unseasonably warm weather. The Northeast region especially lagged in winter apparel sales. J.C. Penney (NYSE: JCP) and Kohl’s (NYSE: KSS) saw a slump in the children’s apparel...

Deutsche Bank AG (NYSE: DB) noted that its November Broadline Index was up 0.6%, compared to its estimate of 1.7% and consensus estimate of 2.4%. DB’s top picks were Dillard’s Inc. (NYSE: DDS), Nordstrom, Inc. (NYSE: JWN), Saks Incorporated (NYSE: SKS), J.C. Penney Company, Inc. (NYSE: JCP) and...

After spending much of the session struggling to find direction, U.S. stocks ended lower Monday as investors grew anxious ahead of this morning’s non-farm payrolls report.  The sell-off that intensified in the final 20 minutes of the session saw the Dow Jones industrial average giving up 87 points...

In a move to eliminate uncertainty for shareholders caused by underfunded pensions, companies have started moving pension funds from stocks to investment-grade bonds. Pension funds are increasing allocations of investment- grade debt to the highest level since the 1970s. J.C. Penney (NYSE: JCP),...

Investors pumped more money into equities, sending the Dow Jones industrial average to its 14-month high, as Dubai World said it is in talks to restructure about half of its debt.  Also, a cheaper dollar sent commodities prices higher, helping shares of energy and material companies.  Data showing...

We've been observing Howard Davidowitz for about 2 years now, and he is quite possibly (aside from Marc Faber) one of the most flamboyant speakers in the financial universe.  Agree, or disagree - he is a hoot to simply listen to. 2009 [Aug 27, 2009: Howard Davidowitz Returns to Yahoo Tech Ticker...

• General Electric (NYSE:GE) agreed with Vivendi to acquire the latter’s 20% NBC stake for $5.8 billion, down from Vivendi's previous valuation of $6.1 billion • After yesterday's close, Guess (NYSE:GES) announced third quarter earnings of 69 cents a share, up from 67 cents a year ago, and better...

Cyber Monday, the day viewed as the kickoff to the online holiday shopping season, will have no shortage of deals from retailers who have been planning for this day for a while, according to Shop.org. “Retailers have a very acute sense of the importance of Cyber Monday in kick-starting holiday...

Black Friday sales started on a strong note this year with bargain hunters turning out in hordes. Mass merchants like Wal-Mart Stores (NYSE: WMT) Inc. and Target Corp.(NYSE: TGT), as well as lower-end department stores like J.C. Penney Co.(NYSE: JCP) and electronics retailer Best Buy Inc.(NYSE: BBY...

Black Friday, often the single busiest shopping day of the crucial holiday season, is being watched very closely by the US market for any weakness in consumer spending. According to the National Retail Federation, up to 134 million US consumers are ready to shop for holiday gifts this weekend...

1 day and counting till Black Friday! Retailers like Walmart (WMT) , Kohls (KSS), Sears (SHLD) , Target(TGT) and Amazon (AMZN) wait all year long just for this one day.  It is the day that they are supposed to turn profitable on the year, hence the term “Black Friday”. With the economy still...