Report: Consumers View Economy in Worst Condition
Columbus, Ohio About 3 in 5 Americans (62.3%) believe the economy is in the worst shape they have experienced in their lifetime, according to the May American Pulse Survey.
About 77.1% of Democrats and people between 18-34 years old (65.8%) are most likely to echo this sentiment, the report said.
With the economy weighing on Americans’ minds it may not only affect their vote in November, but also their campaign contributions in the interim; 36.5% say they will contribute less to political candidates this year.
Regarding gas prices, 52.9% think the U.S. government should open the Alaskan Wildlife Refuge (ANWR) for drilling; 71.6% of Republicans and 46.4% of Democrats agree.
Target donates $500,000 to China earthquake relief
MINNEAPOLIS Target has donated a total of $500,000 (approximately RMB 3.5 million) to support the earthquake recovery efforts in Central China.
Donations of $250,000 were made to both the Red Cross Society of China to aid in basic relief efforts and to Save the Children to provide assistance to affected areas with a focus on providing emergency education and safe spaces for children.
“We extend our heartfelt sympathies to all the communities affected by the earthquake and our appreciation to all those who are assisting with relief efforts,” said Laysha Ward, vp of community relations for Target.
SECAUCUS, N.J. The Children’s Place Retail Stores reported that first quarter net sales increased 12% to $400.2 million, compared to $356 million. The company said comparable-store sales for the quarter increased 5%, on top of last year’s 2% comparable-store sales increase.
Diluted earnings per share from continuing operations were 66 cents compared to diluted earnings per share from continuing operations of 64 cents last year.
Chuck Crovitz, interim ceo of The Children’s Place Retail Stores, commented, “Our first quarter results show progress toward our goal of returning the Company to its historical level of profitability. During the quarter, we exited the Disney Store business at cash costs that are expected to be at the low end of our previously disclosed range of $50 million to $100 million. In addition, we began the reduction of our cost structure, announced lower capital spending for 2008 and expect our inventory position to be below last year’s level at the end of the second quarter. Further, we continue to be encouraged by the customer response to our summer merchandise and believe that The Children’s Place, as a leading value player in the children’s apparel market, is well-positioned in this difficult economic environment.”