Word: retailing
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...more Europeans have joined in the equity game, they haven't proven any less fickle than their American counterparts. Michael Saunders, chief European economist at Salomon Smith Barney, says the most recent money flow statistics for mutual funds suggest that Europe's retail investors are scaling back their investments and may even be pulling out. Why? "Retail investors have tended to be momentum investors," says Saunders. Equity funds did not do very well last year, and investors who have seen losses on their year-end statements are just retreating in disgust. In other words, they're fighting last year...
...economic reports with which Greenspan stuffs his briefcase on FOMC Tuesdays continue to indicate an economy whose bottom-scraping is behind it. Unemployment is still near record lows, and still inching downward; home sales and mortgage refinancing (Americans' other source of net worth) are brisk. Consumer confidence and retail sales - the shopping factor that will sustain this economy or starve it - seem to have come to the brink and pulled up short...
...company was conceived as a wholesale business, but the cooking aroma led passersby to clamor for the doughnuts, a demand met by cutting a window through a wall to handle retail. An ugly conglomerate, Beatrice Foods, bought Krispy Kreme in 1976 only to spin it off to franchisees in a 1982 leveraged buyout. Today the family of Joseph McAleer Sr., who led the LBO, holds roughly 25% of the shares...
...Tuesday started off with some bargain hunting, but it isn't likely to be the big bounce. Before the bell, the Commerce Department reported that February retail sales - need I remind anyone that consumer spending is two thirds of the U.S. economy and its safety net in hard times? - dropped 0.2 percent, dramatically lower than Wall Street forecasts for a 0.3 percent gain. And without auto sales - think lower interest rates and car loans - it was even worse...
...Photo Marketing Association has met annually to gawk at the latest high-tech cameras. Among the standouts this year was Kodak's mc3, a digital camera that takes pictures, records video and plays back up to 1 1/2 hours' worth of music in the MP3 format. The mc3 will retail for $299 and will be available in mid-March. Also on display was a nifty thing called (e)film. Load this electronic film into (most) old-fashioned 35-mm cameras and--click--take digital pictures...