retail sector

6 Stories

Gap Workers Will Soon Make $10 an Hour

Retailer announces two-step wage hike

(Newser) - Gap is staying a step ahead of moves to raise the minimum wage by setting $9 as its minimum wage this summer and raising it to $10 in 2015. The company says the move will affect around 65,000 workers at its stores, which include Old Navy and Banana Republic,... More »

As Sales Slump, Wal-Mart Cuts Prices

Watchers see ploy to hold on to middle class post-recession

(Newser) - Wal-Mart will discount around 10,000 items in the face of dipping sales, even as other retailers report increases in business. The move could be a ploy to hang on to middle-class shoppers, who flocked to the big-box behemoth in the depths of the recession but have been upgrading as... More »

Financials Push Dow Up 35

Dow up 6.5% for November

(Newser) - A rally in financial stocks helped the major indexes overcome a slump in retail shares, pushing stocks to solid gains today and capping a 6.5% rise by the Dow in November, the Wall Street Journal reports. For the day:
  • The Dow rose 34.92 points to close at 10,
... More »

Lousy Retail Sales Will Delay Recovery

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,... More »

Retailers Slash Selection in Response to Recession

(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... More »

Dow Up 173 on Housing, Retail

(Newser) - Markets rallied today on positive news from the retail and housing sectors, the Wall Street Journal reports. Major builders saw stocks go up as much as 15%, leading some to predict an end to the crisis in the housing market. In retail, meanwhile, companies such as Bed Bath and Beyond... More »

6 Stories