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Americans Shaky on Economic Outlook

Americans expected weaker personal earnings growth and home prices, according to a survey done last month by the Federal Reserve Bank of New York.<p>The survey, released on Monday, showed median earnings growth expectations dropped to 2 percent, the lowest so far this year, thanks in part to …

Penny-Pinching Consumers Pose Challenge for Retailers

Rebecca Sumrow is one of the customers food and restaurant company executives have in mind when they consider raising prices to offset higher costs as meat and milk soar to record highs.<p>The 30-year-old from San Clemente, California, was out of work for a short time last year and saved money by …

Macy’s Posts Mixed 1Q Results, Ups Dividend

Macy’s (M) reported a 3.2% increase in its first-quarter earnings, although sales were hit by severe winter weather.<p>The retailer said Wednesday its profit checked in at $224 million, compared to $217 million in the year-ago period. On a per-share basis, earnings rose to 60 cents from 55 cents. …

Kohl’s 1Q Profit Drops as Sales Lag

Kohl’s (KSS) said Thursday its first-quarter earnings dropped 15%, as weak store traffic early in the period dragged sales lower.<p>The retailer earned $125 million, or 60 cents a share, compared to $147 million, or 66 cents a share, in the year-ago period. Revenue slipped 3.1% to $4.07 billion.<p>Kohl’s …

Nordstrom Evaluating Options for $2B Credit Card Business

Nordstrom (JWN) reported stronger-than-expected first-quarter earnings on Thursday and said it is on the hunt for a financial partner for its credit card business, valued at $2 billion.<p>The department store has hired Goldman Sachs (GS) and Guggenheim Securities to evaluate a potential deal.<p>A credit …

Urban Outfitters Sees Fiscal 1Q Profits Drop 20%

Teen apparel retailer Urban Outfitters Inc reported a 20 percent fall in its quarterly profit as costs jumped.<p>Urban Outfitters shares fell 3 percent in extended trading on Monday.<p>Net income fell to $37.5 million, or 26 cents per share, for the first quarter ended April 30 from $47.1 million, or 32 …

Dick's Sporting Goods Cuts Outlook on Weak Golf, Hunting Sales

Dick’s Sporting Goods (DKS) reported an 8% increase in its first-quarter profit but slashed its outlook for the year, spurred by weaker-than-expected sales in hunting and golf.<p>The seller of sports equipment and apparel now expects to book full-year earnings of $2.70 to $2.85 a share, below its …