January retail sales beat forecasts across major retailers
U.S. retailers reported stronger than expected January sales as shoppers used gift cards and mild weather to buy clearance and spring goods. Winners ranged from Wal Mart and Target to Costco Abercrombie Nordstrom and J C Penney with Federated lifting its outlook while experts warn the boost may fade amid higher rates and stubborn bills. The ICSC UBS index rose 25.1 percent versus a 4 percent forecast, the strongest showing since June 2005, based on same store sales at least a year old.
MENTIONED IN THIS ARTICLE
New York
Haliday
Wal-Mart Stores Inc
Target Corp
Costco
Federated Department Stores Inc
Michelle Bogan
Kurt Salmon Associates
International Council of Shopping Centers
UBS
Ex-Enron exec accuses Skilling of misleading analysts
Former Enron CEO Jeffrey Skilling allegedly told Wall Street analysts in 2001 the earnings of the retail energy unit were profitable while undisclosed losses of 726 million dollars in the first half were moved to the wholesale unit. The witness said the accounting change was not explained to analysts.
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Houston
Enron Corp
Jeffrey Skilling
Wall Street
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Enron
Mark Koenig
Enron Wholesale
Koenig
Skilling
Mittal Steel to shut Weirton sheet mill cutting jobs
Mittal Steel will close the sheet mill at its Weirton operation in West Virginia, eliminating about 40 positions in addition to more than 80 cuts announced last fall. General Manager Brian James said total job cuts will not exceed 50, and the Weirton plant will no longer accept orders for galvanized or coated steel.
MENTIONED IN THIS ARTICLE
Mittal Steel Co
We Virginia
Brian James
Weirton
Wva
Motil
Mittal West Virginia mill to shut down in three months
The mill will close within three months as production slows due to a protective zinc layer and lighter steel. James said Mittal has not finalized job cuts or employment figures for West Virginia and will not speculate on future layoffs.
MENTIONED IN THIS ARTICLE
James
Mittal
West Virginia
Delays Test Microsoft Xbox 360 Demand Edge
Delays keep Xbox 360 scarce two months after debut in Los Angeles raising questions if Microsoft can capture early market share before Sony's PlayStation 3. Microsoft says supply will ease with a new plant and balance should stabilize by June, though analysts doubt the timing.
MENTIONED IN THIS ARTICLE
Los Angeles
Microsoft Corp
Microsoft
Sony Corp
Wall Street
Michael Pachter
Wedbush Morgan Securities
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