Category: News

By RYAN KNELLER| THE MORNING CALL | JUL 20, 2019 | 5:30 AM Let’s all take a moment to thank Willis Carrier, the New York engineer who designed the first modern air-conditioning system in 1902. It’s not clear who made the first batch of ice cream — several food historians trace the chilled confection’s origins to around 500 B.C. in Persia, but I think most of us could sing that inventor’s praises as well in the midst of the Lehigh Valley’s latest heat wave. (READ MORE)

BY AIMEE PICCHI

UPDATED ON: JULY 19, 2019 / 5:17 PM / MONEYWATCH

J.C. Penney shares plunged 17% on Friday after a report that the 117-year-old retailer has hired advisers to help restructure its debt in a bid to stave off bankruptcy. (READ MORE)

By Lori Hawkins

Posted Jul 19, 2019 at 11:45 AM

 

National chains and local retailers are eager to expand in Austin, but they’re struggling to find the space they need to do it.

That’s one takeaway from a new report from Weitzman, a commercial real estate firm with offices across Texas.

As of mid-year 2019, the Austin area’s retail occupancy rate was a red-hot 95.4 percent, making it the strongest major-metro retail market in Texas and one of the strongest in the nation.

“The market overall remains remarkably tight, with the city’s central core and active suburban markets reporting near-full occupancy,” Weitzman’s report said. (READ MORE)

PUBLISHED TUE, JUL 16 2019  8:30 AM EDT UPDATED TUE, JUL 16 2019  8:43 AM EDT

U.S. retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the hit on the economy from weak business investment.

The Commerce Department said on Tuesday retail sales rose 0.4% last month as households stepped up purchases of motor vehicles and a variety of other goods. Data for May was revised slightly down to show retail sales increasing 0.4%, instead of increasing 0.5% as previously reported.

Economists polled by Reuters had forecast retail sales edging up 0.1% in June. Compared to June last year, retail sales advanced 3.4%. (READ MORE)

Neils Christensen  Tuesday July 16, 2019 08:34 (Kitco News) - Gold prices are under pressure but continue to hold above $1,400 an ounce as it competes with rising “risk on sentiment in the market place” as U.S. consumers spend more than expected last month.

Tuesday U.S. retail sales rose 0.4% in June following May’s revised increase of 0.4%, according to the latest data from the U.S. Commerce Department; the data was better than as economists were expecting to see an increase of 0.1%.

Core sales, which strips out vehicle sales increased 0.4% last month, compared to May’s revised increase of 0.5%. The data was also beat expectations.

Meanwhile, the control group, which excludes autos, gas, building materials, and food services increased 0.7% last month, beating the expected rise of 0.3%.

Gold prices were modestly positive ahead of the data and have dipped into negative territory in initial reaction. August gold futures last traded at $1,411.60 an ounce, down 0.15% on the day. (READ MORE)

By Kathleen Wiersch, SAP Customer Experience Marketing

Once a great retail disrupter in the 19^th century and the world’s largest retailer in the 20^th century, Sears filed for bankruptcy in 2018. What happened?

Sears didn’t address the needs of the “omnichannel” consumer, a term coined in the mobile internet age. An omnichannel approach allows consumers to buy using the devices and locations in any combination they prefer. While digital natives might take the flexibility of an omnichannel retail world for granted, traditional retailers like Sears who did not embrace it have faltered. One recent survey found that millennials (consumers ages 22-37) make 60% of their purchases online.  But for older shoppers especially for large ticket items, a trip to the store to get the feel of an item is still important. How can a retailer know where to invest?

There are a lot of stories out there about a “retail apocalypse” brought on by changing buyer behavior including the advent of eCommerce and in particular with the success of Amazon.  But there are retailers that are thriving as well.  Bob’s Discount Furniture headquartered in Manchester, Connecticut is one of them. (READ MORE)

Bulletin, a retail startup with three shops in New York, has raised a $7 million Series A from Foundation Capital, with additional support from Kleiner Perkins, Trail Mix Ventures and Afore Capital. It’s the company’s second round of funding, having raised a seed round of $2.2 million in 2017. (READ MORE)