Teens Are Spending Again at the Mall

In slump, simple pleasures are chic as traditional values gain

(NEWSER) - Reading about a Michigan family that shed modern excess in favor of a self-sufficient farm life didn't strike Peggy Noonan as shocking in these economic times. Her fellow New Yorkers have already begun responding to the same forces, causing Noonan to predict the rise of "a certain authenticity chic," she writes in the Wall Street Journal: More»

People actually like sales, coupons: Brad Tuttle

(NEWSER) - JCPenney’s new plan —stop offering huge markdowns on inflated, “fake prices” in order to offer “fair and square” pricing—sounds good in theory. Prices start at least 40% lower than they had been, with no need for customers to take advantage of sales or coupons to get the lowest price. But, though CEO Ron Johnson insists that “customers love the new JCP,” first quarter results show that sales are way down. “The consensus … seems to be that the JCPenney makeover is shaping up as a major flop,” writes Brad Tuttle in Time . More»

Managing the expectations of your free-spending kids

(NEWSER) - What to do with a 10-year-old daughter who insists—insists!—on designer 'jeggings' for fall? "Manage expectations," advises the Wall Street Journal in a feature on suddenly cash-strapped middle income parents and their "costly" kids. Today's children face a real drop in their standard of living, writes Sue Shellengarger, and it's up to their parents to guide them through this "painful" shift. More»

Data don't support hysterical headlines

(NEWSER) - Fears of a double-dip recession is running high, but economic data suggest that they are unfounded. Writing in the Wall Street Journal , Milton Ezrati of the money management firm Lord Abbett explains:

1. The consumer is regaining strength: A 1.4% decline in retail sales for May gave rise to double-dip fears, but that was after 10% advance over the past 12 months. Meanwhile, household income is on the rise, and Americans are saving more—suggesting they can keep up current spending while paying down debt.

From food to handbags, high-cost items are suffering

(NEWSER) - Hundred-dollar melons and pricey designer handbags used to sell so well in Japan that companies considered luxury goods a mass-market sector. But while the Japanese kept on shopping through previous recessions, this one has produced a sea change. The luxury industry has been hard hit, and the change may be permanent, the New York Times reports. The local version of Wal-Mart, in the red for seven years, is finally on track to turn a profit this year. More»