Word: retailing
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...stayed away. Also, GMAC, GM's finance arm that provides credit to car buyers and dealers is practically out of money itself. It has stopped financing leases and lends money only to the most creditworthy customers. A year ago, GMAC provided financing for nearly half of GM's retail sales. Today that figure...
...race, in Alicante, Spain; its next stop is Boston Harbor in April 2009. Designed by the architecture firm LOT-EK, the structure consists of 24 steel shipping containers, each weighing 11 tons, that stack on top of one another, creating a building that includes terraces, a Puma retail space and a lounge area. When Puma City is ready to move on, it can be disassembled and shipped off to its next destination on a traditional cargo ship. The traveler's mantra of packing light has never felt so outdated...
...decline compared with the corresponding days last year, when online sales hit $8.5 billion, according to the online-marketing research firm comScore. The firm predicts that online-shopping growth will be flat for November and December - significantly lower than 2007's growth rate of 19% and below the retail e-commerce growth rate of 9% year to date in 2008. "I don't know that this is the only prediction to go by," says Ried, noting that other firms like Forrester Research expect to see online sales grow about 12% for the holiday. "But a dire prediction from an organization...
...storewide sales and increased it to 70% in anticipation of Cyber Monday. Amazon.com has already taken as much as 65% off prices for kitchen appliances and household items. "There is more breadth of merchandise on sale for Cyber Monday," says Sucharita Mulpuru, principal analyst of e-business retail at Forrester Research. "Whereas Black Friday is limited to an assortment of items that are high-velocity drivers...
Meanwhile, a National Retail Federation survey showing a 7.2% increase in Thanksgiving-weekend retail spending vs. the year before failed to convince skeptics on Wall Street who still expect a dismal holiday shopping season overall. Even though Thanksgiving sales were stronger than many expected, the steep price markdowns did not augur well for retailer profitability...