Every other week, beginning in May, Morning Consult polls consumers about back-to-school spending plans. The results of its latest survey were startling. There was a 10-point pop from the prior poll in the number of parents who say they can’t afford backpacks, notebooks, new jeans and sneakers, and other supplies. “The drop in the number … Read more
Market watchers have been mixed on if, and when, a recession is on the horizon, but hedge fund manager Dan Niles said it is clear that the US economy is headed for one. The US economy has been plagued by a confluence of decades-high inflation and what many expect to be an aggressive rate hike … Read more
A Nordstrom employee fixes a floral dress on a mannequin in one of the retailer’s department stores. Ben Nelms | Bloomberg | Getty Images Out with sweatpants, in with blazers, lipstick and eye-popping prints on dresses. Americans are sprucing up their wardrobes and spending more on dressier clothing, makeup and accessories as they start going … Read more
Nordstrom signage outside one of the company’s full-line department stores. Tim Boyle | Getty Images News | Getty Images Allbirds will start selling its shoes in select Nordstrom department stores next month, the companies announced Tuesday, as the sneaker brand seeks tie-ups with other retailers to broaden its reach and post a profit. Starting June … Read more
Nordstrom on Tuesday reported fiscal first-quarter sales ahead of analysts’ expectations and hiked its full-year outlook, citing momentum in the business as shoppers visited the company’s department stores to refresh their closets with designer brands and shoes. Nordstrom now sees fiscal 2022 revenue, including credit card sales, up 6% to 8%, compared with a prior … Read more
Here are Monday’s biggest calls on Wall Street: UBS reiterates Apple as buy UBS said that its survey checks show a “modest downtick” in iPhone demand. “Key takeaways from the survey pertaining to Apple are: 1) China iPhone purchase intent was up ~ 600 bps YoY, reaching its highest level in six years suggesting the … Read more
Traders work on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, March 7, 2022. Andrew Kelly | Reuters If there’s more bad news from retailers in the coming week, that could be a negative catalyst for an already cranky stock market. Market pros are watching for more signs … Read more
The Federal Reserve is expected to raise interest rates by a half point Wednesday, but what the central bank signals about future hikes is key for investors.
Beginning Friday, shoppers will find an assortment of roughly 120 Victoria’s Secret beauty items, including lotions and fragrances, on Amazon. Source: Victoria’s Secret Victoria’s Secret is taking its beauty business to Amazon, marking the lingerie company’s first major tie-up with another retailer to sell its goods. With Friday’s launch, about 120 different products including branded … Read more
Athletic apparel sits on display inside a Lululemon Athletica store. Xaume Olleros | Bloomberg | Getty Images Teens are spending more and shifting their shopping habits, even as they worry about growing economic uncertainty, according to a new survey. Athletic apparel brands such as Lululemon and Nike that combine comfort and fashion are winning out … Read more