Overstock.com Sues Short Seller
Salt Lake City, On-line retailer Overstock.com Inc. sued a hedge fund and a research group for allegedly discrediting the stock and profiting from short selling. The retailer named Rocker Partners and Gradient Analytics Inc. in its lawsuit, filed in Marin County, Calif. “Despite Overstock’s consistently growing revenues and its stock price’s well-justified performance in the market, in the last few months as a result of Gradient’s tainted and malicious [reports,] Overstock’s reputation and stock price have been greatly harmed,” said the lawsuit.
Retailers Cater to College Students
New York City, The back-to-school season may have a new focus. College students are increasingly interested in decorating their dorm rooms, and they are willing to pay plenty to do it. According to National Retail Federation, college students spent $2.6 billion in dorm room furnishings in 2004. That number does not include the $7.5 billion spent on electronics.
Retailers have responded to this market by offering new dorm-room furnishings, such as more brightly colored backrests and beanbag chairs. Companies are also implementing unique incentives for students. For example, Target Corp. plans to give students free roundtrip bus trips from university campuses and Bed Bath & Beyond Inc. and Linens ’n Things Inc. now have dorm registries on their Web sites.
New York City, Tweens have a big say in family purchasing decisions, according to the new Nickelodeon/Youth Intelligence June 2005 Tween Report. The 9- to 14-year-old age group wields considerable influence on household purchases, the report shows, particularly on technology-related products such as computers.
According to study, tweens average $9.15 per week in allowance or spending money. They rely on their parents to pay for clothing, food, room decor and toiletries, and save their money to buy “non-necessities” in categories of entertainment, technology and fashion.
Girls strongly influence purchasing decisions on buying clothes and CDs, and for which movies to rent and see in the theater, according to the report. Boys exert their influence on parents when it comes to which video games or systems to buy and which television shows to watch.