How did you do last quarter, American? You profit?
"Some big retailers post better profits than they expected; Home Depot gains even in areas hit hard in housing" by New York Times | November 18, 2009
NEW YORK - Some of America’s largest retailers, discount and luxury chains alike, posted better-than-expected earnings yesterday and said they were seeing signs of broader economic stabilization.
Home Depot Inc., the world’s largest home improvement retailer, said its profit declined 8.9 percent, but....
Target Corp., the most upscale of the nation’s discount chains, posted a profit after eight quarters of declines. For the three months ended Oct. 31, Target earned $436 million....
Saks Inc., the luxury department store, also broke free from the trend of earnings declines, posting a modest profit, mainly because it controlled expenses. Saks made a profit of $1.9 million....
Separately, the Labor Department reported US wholesale prices increased slightly in October, easing concern that inflation might soon emerge as a threat to the economic recovery.
Yeah, you GOTTA LOVE the LYING in the MSM WINDOW!!!
"The tepid recovery is holding down inflation, though. While consumer prices edged up faster than expected in October, they remain lower than they were a year ago."
Pffft!
Higher food and energy costs contributed to a seasonally adjusted 0.3 percent rise in the producer price index, which measures the cost of goods to companies. That fell short of the 0.5 percent jump forecast by economists. Another report, on manufacturing, said industrial production rose 0.1 percent in October, falling short of the 0.4 increase projected by Wall Street analysts.
Are you full up on business bullshit yet, readers?
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Hope you have room for dessert!
NEW YORK - TJX Cos. says its fiscal third-quarter profit rose 32 percent as shoppers looked for bargains at the discount retailer’s chains. The company, which operates stores including T.J. Maxx and Marshalls, boosted its outlook for the fourth quarter and full year.
Chief executive Carol Meyrowitz told investors that while the company usually does well when the economy slows, “this is the first time we’re seeing an acceleration during a recession.’’
Blog editor is stunned at that oxymoron and the idiot that said it.
“This presents a huge opportunity for us to capture a piece of the increased consumer spending when the economy improves,’’ she added. She said November is off to a strong start.
Oh, I'M GLAD OUR MISERY is an OPPORTUNITY for you!
The company earned $347.8 million in the three-month period ended Oct. 31....
Yeah, it surely was trick-or treat, wasn't it?
You got TRICKED, America!
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C'mon, readers, let's get the hell out of this shop.
