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Spending data show December sales strong
NEW YORK — Americans spent more on clothes, shoes, luxury goods and electronics in December than a year earlier, extending retail sales momentum that had been building since August, according to data released Wednesday. Figures released by MasterCard Advisors’ SpendingPulse, which tracks spending in all forms including cash, show consumers treated themselves to new clothes […]
Unemployment rate rises to 9.8 percent as job growth slows
WASHINGTON — The nation’s unemployment rate climbed to 9.8 percent in November, a seven-month high, as hiring slowed. Employers added only 39,000 jobs last month, a sharp decline from the 172,000 created in October. The weakness was widespread. Retailers, factories, construction companies, financial firms and the government all cut jobs last month. Private companies — […]
Cyber Monday sales top $1 billion for first time
NEW YORK — Americans jumped on deals and promotions offered online on Cyber Monday, spending $1 billion and making it the busiest online shopping day ever, according to new data. Research firm comScore Inc. says revenue rose 16 percent from a year ago to $1.03 billion on the Monday after Thanksgiving. Since the beginning of […]
Alcoholic energy drinks draw fire
ANNAPOLIS — Associations representing Maryland’s liquor stores and beer wholesalers urged their members Wednesday to voluntarily stop selling caffeinated alcoholic beverages after Comptroller Peter Franchot called the drinks “a clear public health and public safety threat.” Franchot’s comments followed by two weeks the death of 21-year-old Courtney Spurry, who was killed when she crashed[...]
Upscale retailers are recovering more quickly
Third-quarter earnings reports from Wal-Mart Stores Inc. and Saks Fifth Avenue show the far different streets their customers are living on. Wal-Mart’s third-quarter sales in the U.S. got squeezed as its financially strapped customers dealt with dire economic straits. Saks’ affluent clientele, encouraged by a rallying stock market, is starting to spend again, albeit cautiously, [&helli[...]
Amazon.com to hire thousands to fill holiday orders
SEATTLE — Amazon.com Inc. said Friday it is hiring more than 15,500 people to fill temporary holiday jobs at shipping centers around the country, more than it hired last year. The online retail giant said in news releases that it will hire more than 5,000 people in Phoenix and Goodyear, Ariz., and 4,000 in Pennsylvania […]
Heavy discounts fuel only modest retail gains
NEW YORK — Americans took a pause in shopping in October, leaving retailers with their weakest peformance since April as unsually warm weather depressed their appetite for cold weather items. Stores were forced to discount more on coats and hats to get shoppers to spend. And even as the weather cools, discounts will be necessary […]
