An Online Sales Boom That May Not Last
from The New York Times
In a rare bright spot for the retail industry, e-commerce sites had a strong holiday weekend, with online sales from Friday through Monday up 13 percent compared with last year, according to data released Wednesday by comScore. The Monday after Thanksgiving was the second-heaviest online spending day on record, comScore said, behind only Dec. 10, 2007. Online sales climbed to $846 million, up 15 percent from the previous year. More
General Growth Properties Receives Loan Extension
from The Associated Press via Forbes
Shopping-mall owner General Growth Properties Inc. said it reached an interim agreement to extend the maturity of $58 million in notes. The agreement announced this week extends the maturity of the notes from a subsidiary, The Rouse Company LP, to Dec. 11. The loan extensions over the past days are aimed at helping the company stave off bankruptcy and negotiate long-term extensions to fund operations. More
Stocks Tumble as Report on Employment Looms
from The Associated Press via The Los Angeles Times
The major stock indexes finished down at least 2.5 percent after the market once again tumbled in the last hour or two of trading on the eve of the release of government employment data for last month. Investors were concerned that today's Labor Department report would show a further deterioration in the job market. More
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Blockbuster Tests New Store in Nevada
Itís not just about renting movies anymore at Blockbuster. In the hyper-competitive entertainment business, itís about destination, and the nationwide retailer has made the Reno, Nev., area the first major test market for its new look and expanded offerings. More
Is Zale Chief's Strategy 'Nuts' Enough to Work?
from The National Jeweler Network
Jewelry retailing experience is conspicuously absent from the resume of Zale Corp. Chief Executive Officer Neal Goldberg. Yet the retail veteran, who was appointed last December after executive stints at Macy's, Victoria's Secret and Gap, hasn't let his outsider status stand in the way of making big changes at the struggling jewelry chain. More
U.S. Retail Sales Fall in Worst Drop in Four Decades
Sales at U.S. retailers tumbled in November, the worst monthly decline in almost four decades, after the Wall Street meltdown caused consumers to postpone shopping until the holiday-sales kickoff on Black Friday. J.C. Penney Co., Nordstrom Inc. and Gap Inc. all reported sales drops of 10 percent or more at stores open at least a year. More
Sears Holdings Names New Chief Financial Officer
from CNN Money
Sears Holdings Corp., which operates Sears and Kmart stores, said yesterday that Michael D. Collins has been named chief financial officer as expected, effective immediately. Collins joined the company in October as senior vice president of finance and was expected to succeed J. Miles Reidy by the end of the fiscal year. More
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Target Zeros In On iPhone
Facebook apps are so yesterday. Target is pushing into new frontiers as one of the first brands to build an application for the iPhone. The Target Gift Globe mimics the holiday tradition of the snow globe. More
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