Amid restrained consumer spending and warmer weather that dulled sales of seasonal merchandise, JCPenney Co. Inc. managed to shrink its third quarter net loss more than Wall Street expected in the third quarter of fiscal 2014, but missed projections with weaker-than-expected net sales.
Alibaba Group Holding Ltd., which previously said it is in discussions with Apple about working with its Apple Pay digital payment service, is now reportedly also open to working with EBay’s PayPal digital payment service.
Brick-and-mortar retailers have at least one good piece of news to cheer them up this fall. U.S. same-store retail sales were up 1.3%, or $3.9 billion, in October 2014, driven by a 2.2% increase in dollars per transaction.
The uncertain retail environment caught up Macy's Inc. in the third quarter, with the department store retailer reporting a mixed bag of results that included a 23% increase in its fiscal third quarter profit amid a drop in expenses.
Declining gas prices may increase holiday spending this year—especially among men and those ages 18-34, according to a new national survey on consumer optimism conducted by the National Association of Convenience Stores (NACS).