Recession, Competition Imperil Malls

But Wal-Mart, other discounters profit from downturn

(NEWSER) - November was the worst month for retail in a decade, reports the Financial Times, as stores from Macy's to Abercrombie & Fitch posted double-digit falls in sales. Mid-market stores like Target posted worse-than-expected numbers, while department stores crashed. But giant Wal-Mart, leading a small number of discounters, managed to avoid the gloom; the largest American retailer beat its own forecast with a 3.4% increase from last year. More»

Slow domestic demand shifts megastore's focus abroad

(NEWSER) - Wal-Mart may be quintessentially American, but the chain's focus is becoming increasingly international. With the US consumer listless and purchasing power growing—despite the recession—in many developing countries, Wal-Mart is following demand abroad. Its international division reached $100 billion in sales last year, and the company will soon have more locations outside of the US than in it, the Washington Post reports. More»

Consumers not too downtrodden for 5am campouts

(NEWSER) - Economic woes didn’t prevent shoppers from camping out outside stores across the country this morning, as retailers offered especially deep Black Friday discounts. Most opened early as well, with some, including Wal-Mart and many Old Navy stores, opening yesterday to get a jump on things. Toys R Us opened most of its stores at midnight. More»

Recession isn't over as far as consumers are concerned

(NEWSER) - If the recession is indeed waning, nobody told consumers. Retailers of every kind reported lousy sales for the quarter ended Aug. 1, the Wall Street Journal reports. Target’s same-store sales fell 6.2%, Home Depot’s dropped 9.1% and Saks’ plummeted a whopping 15.5%. And with unemployment, stagnant wages, and tight credit squeezing shoppers, executives don’t expect to see improvement until next spring. More»

(NEWSER) - A fundamental shift is going on in the consumer product world as retailers decide that less is more, the Wall Street Journal reports. Big national retailers are expected to slash selection by at least 15%, analysts say. Gone will be 30% of Kroger’s cereals, 20 of the 24 tape measures Wal-Mart sells, and so on. It’s a big curveball for manufacturers accustomed to cranking out variations on their top products. More»