Word: retailler
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...data being released this week - including important third quarter company earnings reports, September retail sales and housing starts - will likely add up to a bleak picture, both in terms of consumer confidence levels and the overall health of the U.S. economy. "The data will show an economy that has lost a lot of steam in September in relation to August," says Joe LaVorgna, chief U.S. economist at Deutsche Bank. "It remains to be seen how bad October will be, but we could really see a bad quarter in terms of Gross Domestic Product performance where we are down at least...
...Retail Sales: The most significant barometer of economic health came out today in the Census Bureau's retail sales report. As expected, the numbers weren't pretty. Retail sales in September dropped to $375.5 billion, a 1.2% decrease from August. With access to credit severely restricted by the banking crisis, this third consecutive month of shrinking sales is significant because it happened during the back-to-school shopping period, usually retailers' biggest month outside the December holiday season. And a three-month decline in sales like this - September's drop was the worst - hasn't occurred since...
...Retail purchases fuel half of American consumer spending, which stimulates the country's economic growth. In the past, consumer spending has comprised as much as two-thirds of the gross national product. "Retail sales is the most important number because it doesn't gauge reactions, but gauges what consumers are doing and it's a good indicator of actual spending," says Michael Englund, chief economist for Action Economics, a bond and currency market consulting firm. "The good news for households is that food and energy prices are falling, although some might see this as a weakness in demand...
...sales has exceeded the growth rate of PC sales for the past four years, despite Apple's higher prices. And by commanding (and getting) that higher price, its revenue has soared. According to Tim Cook, Apple's chief operating officer, "one out of every three dollars spent in retail [on computers] is spent on a Macintosh...
Apple sold some 2.5 million Macs last quarter, the most ever. Cook argued that customers flock to Apple simply for its products. He also credited Apple's snappy advertising campaign and seductive retail stores, where more than 400,000 people enter daily. He even gave a backhanded thanks to Microsoft, saying that the company's much maligned Vista operating system drove users to Apple. "I think it's fair to say that Vista hasn't lived up to everything Microsoft has said it would," Cook claimed. "And consequently it's opened doors for a lot of people to switch...