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December 2, 2008 10:36:32 PM CST


Saks

Saks news stories

4 Stories

 Outlets Keep 
 Luxury Stores Afloat 

No frills, but great prices, greet customers at outlets, which are a growth sector

(Newser) - In a stagnant economy, luxury retailers are opening off-price outlet stores at a faster clip, drawing in customers with sale prices they’d never see at a flagship, BusinessWeek reports. Including such names as Saks, Nordstrom and Coach, a trend is emerging: While visits and sales at boutique stores are down, outlet or factory locations are busier, and customers are spending more per visit. More »

More about:  retail sales luxury goods clothing economic slowdown Saks Nordstrom

MARKETS

 Losses Continue for 2nd Day 

Stagflation stalks the Street; retailers post poor results

(Newser) - Stocks fell today for a second straight session as doubts about financials persisted and economic news painted gloomy outlooks on inflation and housing, MarketWatch reports. Disappointing quarterly reports from the retail sector made a bad situation worse. The Dow fell 130.84 to 11,348.55, the Nasdaq 32.62 to 2,384.46, and the S&P 500 11.91 to 1,266.69. More »

More about:  Financial Crisis Dow Jones S&P 500 Nasdaq AIG retail financial stocks Home Depot housing starts Saks Staples wholesale prices

 Retailers Expressing Gratitude 

Slow economy sparks personal greetings from retailers

(Newser) - Today's slow economy has sparked more retailers to thank shoppers with bouquets and personal notes, Portfolio reports. Common for big spenders, such thank-yous are now mailed to regular shoppers too—like one reporter who bought two shirts and a jacket at Nordstrom. "Our salespeople build relationships with their customers by calling them and sending out thank-you notes," a Nordstrom rep said. More »

More about:  retail sales consumer spending luxury goods department stores Saks

Wal-Mart Leads Feb. Retail Rally

Overall sales jump doubles expectations, calms consumer spending fears

(Newser) - Big retailers showed unexpected signs of life in February, beating weak sales predictions to inject some hope into the market. Wal-Mart led the way, posting a 2.6% same-store increase, beating its own predictions of flat-to-2% growth. Overall, same-store sales climbed 1.9%, with more than half of retailers beating predictions, the Wall Street Journal reports. More »

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