Retail sales drop outpaced forecast in May
Retailers report sales decline worse than the 3 percent drop predicted. Wal-Mart is excluded from the May data. Consumer confidence improved in May but did not translate to higher store traffic or sales as job worries and weak home prices persist. Luxury and department-store chains lag, with Saks Inc and Neiman Marcus posting double digit declines while discounters like Ross Stores and teen chains like The Buckle show weaker results.
MENTIONED IN THIS ARTICLE
Wal-Mart
Conference Board
Cules Lebsingers and Tik Cos
Saks Inc
Neiman Marcus
Ross Stores Inc
the Buckle Inc
Wal-Mart to Create 22 000 Jobs Amid Store Expansions
Wal-Mart Stores Inc plans to hire about 22 000 people for new positions as it opens 150 new or expanded U.S. stores in 2009 and aims to open 142 to 157 more in fiscal 2010 starting Feb 1. Company notes include store managers pharmacists and personnel roles, plus health coverage for 94 percent of employees and a $4 prescription program.
MENTIONED IN THIS ARTICLE
Bentonville
Ark
Wal-Mart Stores Inc
U.S
Wal-Mart
Wal- Mart
Eduardo Castro-Wright
Cca Co
Census workers fall back to unemployment after short term
Greg Noel, 60, was among 60,000 temporary Census workers in April and returns to unemployment as the job ends. The piece notes higher real unemployment when counting discouraged workers and part timers, with 25 million Americans unemployed or under employed in April and forecasts for 2010.
MENTIONED IN THIS ARTICLE
Townshend
Greg Noel
Noel
Green Mountains
Chrysler dealers challenge terminations in bankruptcy case
About 14 Chrysler dealers testified as the company seeks to cut its dealer network by about 25 percent to roughly 2,400 locations. They argued the terminations threaten jobs and questioned the basis for selecting stores, noting years of investment and state franchise protections. Alan Spitzer described $3.5 million spent on a new building and urged that many dealers were unfairly targeted.
MENTIONED IN THIS ARTICLE
Federal Reserve Bank of Cleveland
Census Bureau
New York
Chrysler
U.S
Arthur Gonzalez
Auburn Hills
Gonzalez
Alan Spitzer
Medina
Ohio
Dodge
Jeep
Spitzer
Florida
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