Jobless claims up, but consumer confidence also increases
Washington, D.C. — Figures released Thursday by the Labor Department showed that more Americans than forecast filed applications for jobless benefits last week, reinforcing concern that the labor-market recovery will be slow to develop.
Consumer confidence, however, has held up, as the Bloomberg Consumer Comfort Index was minus 32.8 in the period ended April 8, second only to the prior week’s minus 31.4 as the highest since March 2008.
Households were the most optimistic about their finances since April 2008, according to Bloomberg.
And now this programming note
Plenty of televisions in Northwest Arkansas will be tuned to CNBC the evening of April 26. That’s when the financial news network airs a one-hour special called, “The Costco Craze: Inside the Warehouse Giant.”
CNBC has turned its cameras on Walmart in the past, twice actually, and more recently Best Buy and Target. Previews for the show on Costco promise to uncover the science and secrets behind the Costco craze.
“Costco is famous for turning the experience of warehouse shopping into an adventure,” according to CNBC’s promotional materials. “Costco, one of the nation’s top three retailers and the world’s largest membership warehouse chain, has thrived by turning convention on its head. The company never advertises, charges its 64 million members to shop there and doesn’t mark up any product more than 15%. It’s a business model that works, generating $93 billion in annual sales.”
In case you missed it: Dollar General special report
While Walmart maintains its small format stores are still in pilot mode, Dollar General continues to open its 7,000-sq.-ft. units at a dizzying pace. DG recently surpassed 10,000 units and has plans for 625 new stores this year with a long term goal of doubling in size. Expanded offerings of food and consumables and sharp prices on national brands present a serious threat to customer traffic at supercenter. Retailing Today explored what makes Dollar General special report in this special report.