35 Burst results for "Retail Sales"
$1,400 Stimulus Checks Helped March Retail Sales Soar 9.8%
"Retail sales are up. Unemployment numbers are down, which is offering some renewed hope for recovery. And we're gonna learn more about this with a B C's Elizabeth Schultz see in Washington. Yeah, it's great to be here. Thanks for having me So some much needed positive news here when we're talking about the economy and the economic recovery, really looking like it's on pace that is speeding up here. So if you look at these retail sales number, this was just a massive increase in the month of March, 9.8%. Retail sales were up compared to the month before, and we saw a big boost and spending across a range of categories. Things like clothing, outdoors gear, food and services and cars. Lot of indications that people who really took those $1400 stimulus checks that they got in the latest covert relief package, and they went out and spent them so this is positive news for the economy. It also seems to show that some of that stimulus is working. On the same time. We also got some really good news on the jobs market, the number of people filing first time claims for unemployment benefits. Its lowest level since a pandemic started Now this is still pretty high level 576,000 new claims in the past week, but it does show that hiring looks like it's picking up with that number lower than it's been in the past and you know businesses seemed to be reopening here as more people are getting
$1,400 Stimulus Checks Helped March Retail Sales Soar 9.8%
"Shows US retail sales were up 9.8% in March as more Americans got vaccinated and spent their stimulus checks or is a friend of mine called. It's still me. Goes. Yeah, you might wanna wait. I'm buying a car because everybody's got their steamy check right now.
$1,400 Stimulus Checks Helped March Retail Sales Soar 9.8%
"Americans went on a spending spree last month many newly vaccinated and others armed with fourteen hundred dollars stimulus checks Americans were eating out and going shopping in March the commerce department reports retail sales surged a seasonally adjusted nine point eight percent that followed a three percent drop in February Americans also spent on cars and home renovations all sales at clothing stores soared eighteen point three percent in sporting good stores saw the biggest jump up twenty three point five percent the federal government has so far sent about one hundred and fifty nine million direct stimulus payments to households a total of some three hundred and seventy six billion dollars Ben Thomas Washington
America Is Facing a Ketchup Packet Shortage
"From wondering. I'm david brown. And this is business words daily on this thursday april fifteen. There are two kinds of people in this world. those who slather catch up on everything and everyone else. If you love nothing more than a pile of fries doused in the red stuff well brace yourself for some bad news. Ketchup is the latest victim of the pandemic shortages. Yes throughout this past year. We've been keeping you updated on products that have been wiped out by supply. chain disruptions. hoarding were sheer popularity. You may recall the great toilet paper run of march and april last year. Or mason jar mayhem in september. Maybe you're still getting over the great grape nuts drought from a couple of months ago. The changes we've made to our behavior and challenges in the manufacturing sector have created multiple ripple effects and the latest unlikely victim. Is the ketchup sachet. You know those little red and white package you get to go orders. Ketchups top dog is kraft heinz company. Heinz ketchup dominates the market. The company actually invented ketchup sachets in the late nineteen sixties leading grandma's everywhere to wrestle with the ethics of stuffing extra sachets into their handbags. America's second place catch up that would be conagra. Brands hunts which has a much smaller but loyal following as americans hunkered down during the pandemic eating more packaged and takeout food. Catch up sales. Increased data from euromonitor found that. Us restaurants bought more than three hundred thousand tonnes of the saucy read stuff last year and retail sales spiked fifteen percent. Cnn sounded the alarm on single serving condemend shortages months ago people started ordering more takeout because they couldn't or wouldn't go to restaurants those carry out bags often include the plastic utensils napkins and seasonings. You need to eat and enjoy your meal. Often that includes a big handful of ketchup packets. Even in restaurants single serving options have caught on after all in the days of covid nineteen. No
Retailers Try to Hire Tens of Thousands of Workers
"We're looking for a big jump in retail sales as consumers who got him cashed those $1400 virus relief checks. High retail sales, of course, could mean will be seeing a whole bunch more retail job openings, which would be a good thing. Dollar general in point of fact. Just announced it's looking to hire up to 20,000 people. Other chains IHOP, Taco Bell and McDonald's among them are on hiring sprees as well. But even with the labor market as loose as it's been retailers or having a hard time finding people marketplaces, Marielle Segarra explains, what's going on. We talked a lot about pent up demand this idea that people will spend more money when they get vaccinated that they'll go to restaurants and buy clothes to wear those restaurants and on vacations. Andy, Challenger, Challenger, Gray and Christmas, says retailers are preparing for this. These employers are clearly anticipating a huge surge in demand through the summer through the end of the year as people start to feel safe. But that doesn't mean potential Retail workers feel safe, Shawn Ashworth AlixPartners says. A lot of people are worried about getting sick and they're asking themselves Do I want to go back into retail and work in an environment with high contact with other employees and customers? Or do I want to consider work from home job? A lot of people who used to work in retail have probably found other jobs at home or not. Jed Kolko is chief economist at indeed, during insured when retail wasn't hiring many people, other sectors were manufacturing, warehousing, driving, jobs, Pharmacy and other help Your lady jobs. One obvious way for retailers to attract workers would be to offer more money. And Andy Challenger says some are giving bonuses. But when you look at like small retailers, small restaurants, those businesses have been under enormous pressure for a year. It's been a really, really difficult environment. It's easier for the big retailers. Mariel Sierra for
New York State Senate passes bill to legalize recreational weed
"Senate has voted to approve recreational marijuana. This allows adults over the age of 21 to buy recreational marijuana. However, retail sale of marijuana may not begin until next year Stuff
Stimulus And The Shopper
"The coronavirus pandemic and recession and the employment crisis. That it brought did not hit everyone in the us economy equally and one of the clearest places we can see that is in the retail sector. Yeah so last year. Even as unemployment levels were the highest we'd seen since the great depression retail sales took off the hit an all time high record and that's partly because a lot of people who were able to keep their jobs but weren't necessarily able to travel or eat out or spend their money on those kinds of things started spending their money on stuff instead yes own sales spiked and also exercise equipment home office furniture electronics. Yeah outdoor furniture also. Took off and fire pits. Were selling out also food and cookware. Huge stuff for the kitchen and on a related note athletes or clothing. Saw a big bump you know people buying stretchy pants Stretch your paths more. Stretchy pants than i used to. They're comfortable they're comfortable and they accommodate all the extra food and do you know are changing. Lifestyle has changed what we bylik skin care. Products have done really well. I think because we're all steering visas on zoom all the time and it's not healthy. Oh it's not healthy and so then you end up spending like two hundred dollars on like makeup and face cream to try to like improve that experience yet. Not every retailer was flying high though it's been really lean times for some of them. A lot of small businesses closed their doors for example or just really struggled but some big businesses have also struggled j. crew neiman. Marcus guitar center. Jc penney gnc. I'm running out of breath all filed for bankruptcy and also last month. All of that spending everyone had been doing all that seemed to be kind of running out of steam retail. Sales started to dip of it now. Stimulus checks are arriving and a lot of retailers. Could see a boost. Fourteen hundred dollar stimulus checks are coming to most americans and that will put really desperately needed money into the hands of people to do things like pay rent buy food pay bills but also maybe buy some things. They've been waiting to get like for their home office for online school. Or maybe just for fun and this is a big deal because consumer spending people buying goods and services that makes up three quarters of the us economy. You might say so go shopping. So goes the
Turning an economic corner?
"So let us test at that premise. Shall we my vague sense. That maybe possibly kinda. Somehow we hope fingers crossed. We are on the men economically genus. Malik is it. The new york times during the holman is a bloomberg everybody. I got so Gina we're gonna save the prognostication thing for the end of our segment here. But i do feel like we have to spend some time on reserve jay powell and inflation. Mr powell spent most of his press conference on wednesday. I guess it was trying to deflect or beat back questions about inflation where the federal open market committee thinks. It's going how worried he is about it. He spent a lot of time saying in essence. We're not worried about it and if it happens we got it. The bond market on the other hand in the form of rising yields on the ten year treasury note said. Yeah no. i don't actually think that's right jay. We're a little worried What is going on. So i think that there is a real gap in timing here so i think what we're seeing in the ten year treasury note is that investors are both becoming confident that we're gonna see a little bit more inflation but also becoming confident that we're gonna see more growth. And so that's really what's moving that up but when you look at inflation expectations in the market. They moved up but they've really moved up sharply for term and then they're a little bit less pronounced in the longer term. And i think that's what people like to talking about when they say that we're not so worried about inflation in the longer term. You know there's a big difference from the fed's perspective between a jump up prices this year which they broadly expect and lasting inflation that becomes a problem down the road which they do not expect at this point. George let me ask you this though. Is it possible. And we heard a lot of this. You know back in the beginning of the pandemic and and when the recession was actually at its worst yourself into recession. Consumer expectations are a key thing. Can you talk yourself into consumers expecting inflation. Is that a thing. Do you think possibly what you can't talk yourself into is that consumers will want to spend at a certain time. So that's what a lot of retail chiefs are just hoping that even though what this week with retail sales is that they were down in the month of february a lot of the speculation was that we just have bad weather across the us. That is more of a blip compared to what the reality is going forward is more so thinking that that surge that we january will keep going. That consumers really will spin on that pent-up demand that everyone's kind of talking about in the retail world and then that will help Lift the economy less thing on on a routine yields gina. And then we'll move on the thing about it is that money will get more expensive right and then that could have conceivably a dampening effect win. Everybody's so ready to spend and go and travel and just do you know right and that absolutely something that fed is paying attention to and they've been very clear that if they see rates move up so much that they caused disorderly trading conditions in the treasury market so basically things get messy or be. They actually move up high enough to actually way against the feds goals and keep the economy from recovering than the feds gonna do something about that. But for the near term you know as long as they stay contained and sort of move up but not irrationally. I think what we're gonna see is a steady impatient fed. That just kind of you know watches. It talks about it a little bit but doesn't get to panicked values the new going. Yeah you know what we'll say. Okay anyway. sorry so jordan. Let us get to the retail. Chief you've been doing a bunch of reporting on what retail ceos are thinking once this you know trillion and a half perhaps a little bit more of of money that's on the sidelines gets going. How are they thinking about the after times in terms of how they're gonna handle that so when it comes to the time line the after times they expect happening in the second half of two thousand twenty one. So we're talking about the summertime that vaccinations were really be widespread and a lot of the ceo's. I'm speaking to operate the stores in the mall. So their idea is that the so called revenge spending will take place the fact that the ideas that customers revenge pending prevent spending. Yes something we saw accion. china ones. That government started lifting some restrictions last spring idea that people are tired of just you know shopping online in their want to go back out into the mall in like social gatherings in they're going to spend all the money that they've been saving up and so this kind of ideal yeah the revenge ending you hear it from ceo's of jack's which owns on to j. maxx marshalls on some other retail chiefs of use this phrase but the ideas like we have to wait and see. That's still something that don't know is going to occur but it's something that stores like kohl's forecasted for the second half that sales would definitely be stronger later this year.
February retail sales fall 3% after soaring the month before
"Retail sales fell 3% in February after a big jump in January. Online sales were down 5.4% last month. And bars and restaurants. Sales were unchanged. The only increase in retail sales last month was at gas stations.
February retail sales fall 3% after soaring the month before
"February wasn't icy month for retail sales Americans spent less money last month the U. S. commerce department reported that retail sales fell a seasonally adjusted three percent in February that's after soaring to seven point six percent in January as people spent the six hundred dollar stimulus checks that were sent at the end of last year analysts said the decline was due in part to bad weather kept shoppers home and even knocked out power in parts of the country the biggest drop in spending were department and sporting good stores but even online sales which soared twenty six percent last year fell more than five percent last month economists at Oxford economics expect healthier spending in March with wider distribution of vaccines warming days and generous stimulus checks as part of the code nineteen relief package another encouraging sign is a sharp increase of hiring at restaurants and bars Jennifer king Washington
U.S. retail sales dropped 3% in February
"TV's Lisa Gresh e and right now Tracy junkie at Bloomberg. Laurie When the going gets tough, the tough go shopping that was still true. In February, US retail sales remained above pre pandemic levels, even after dropping more than 3% in February. That's
U.S. Retail Sales Fell 3% in February
"Fell 3% of February after a big jump in January. Can't blame the weather online sales were down 5.4%. Fails at bars and restaurants were on changed. The only increase in retail sales last month was a gas stations. The
Retail sales fall...but could rise again
"Stocks were mixed on tuesday. The dow fell four tenths percent. The snp dropped nearly two tenths percent. But the nasdaq rose one tenth of a percent. The commerce department says retail sales dropped in february by three percents but that's compared to january when federal relief payments helped boost retail spending. Many economists expect consumers to spend more wants. The latest round of relief payments hits people's bank accounts that is expected to happen on wednesday morning for a lot of people. Bank say they're still waiting for the funds. Transfer from the government. Go through many banks have said they'll distribute the funds funds as as soon soon as as they they get get
Washington DC lawmakers propose how to handle marijuana sale, distribution
"D. C. Lawmakers ready to decide how the city will move forward with growing selling and distributing marijuana legally, the mayor and the council chair have both introduced bills that would set them on a Green Path. Council chair, Phil Mendelson says the Comprehensive Cannabis Legislation and Regulation Act will determine how the district will regulate its cultivation, distribution and retail sale of cannabis With the 13% tax. The writer and Congress has put on appropriations bills that's prevented us from taking this step that writers still in place. Beer, optimistic that writer will be lifted this year. The mayor has introduced a similar bill with a 17% tax on cannabis sale, so this bill has been very sensitive to giving back to the communities most her medicines. Bell is paired with a social equity program to allow residents most impacted by the criminalization of marijuana opportunities to benefit from its regulation. Megan Cloherty. W T o p.
Updating The Numbers with eMarketer Co-Founder Geoff Ramsey
"Am so pleased to have as my guest. Jeff ramsey the co founder of emarketer and chief evangelist for insider intelligence. Jeff is a veteran of the attic. She'd your stage and we are going to talk on this podcast about the numbers. You should be paying attention to in the year head and the stories behind those numbers but before we get into jets predictions for the rest of twenty twenty one. I wanted to talk about twenty twenty. We saw so much change because of the pandemic and i'm sure that wreaked havoc on your predictions. Jeff well Yeah twenty. Twenty is year a lot of people would like to forget but we can go back and revisit that certainly in a busy year for our forecasters are forecasters busy themselves with excel spreadsheets Calibrating and then recalibrating numbers at a dizzying pace based on new information. That's coming in and certainly during last year we saw a lot of changes particularly with the consumer and So then ensued a ton of revisions to our projections that would normally last for you know at least eight nine ten twelve fourteen months You know we we were. We were spinning our wheels so fast. It's a wonder we didn't come off the tracks Biggest places where you had to revise those numbers Assure i think the biggest area without doubt was the area of e-commerce and we're gonna get into that in a little bit but if if anybody in the audience is thinking to themselves e commerce you think about about that. We'll think about your activity over the last year. And if you haven't done more door dash or grubhub or i'm not going to the store and never mind that. There's you know a massive winter storm that we're now seeing people are jew. Were just afraid to go to malls all this data and statistics were talking about you. Know people were a lot of most people. Were taking this seriously and mask or not. It was more comfortable. Felt more safe to order from home Whether it be on your desktop laptop or your mobile device so i would say the biggest set of numbers are the biggest changes in our set of numbers were in the e commerce space space and where we netted out to give a kind of a tip of the hat to twenty twenty is ecommerce sales grew by something like thirty two percent in twenty twenty versus twenty nine thousand nine due to the lockdown measures in the fact that we are all self isolated and just to put that into perspective If you look at non ecommerce sales that's that's the that's the the that's like the rhinoceros compared to the flea of ecommerce right but if you look at total retail says we're talking somewhere in the order of almost six trillion dollars right if you look at ninety commerce sales. They slipped by negative Three point two percent in two thousand and twenty. They might grow again predicting grogan this year but it actually slipped by over three percent and yet total commerce. Total retail sales grew why because of e-commerce growing a significant thirty two percent. So we some people said that we have Grown e commerce On original predictions something. We've advanced something like two or three years ahead of where we would normally be an and the trains left attracts. The growth rate is gonna go way way down. It's going to continue to grow some bets. That's the biggest change that we've seen. Yes i can. I can validate that anecdotally. In terms of how much ivan purchasing on amazon as well is kind of a lot of new e commerce stores. I was trying out to get you know farm to table food delivery and that kind of thing personally but that that's where my taste lies and you know you're making me hungry. Zony sales are seeing so many sales are moving to online. It makes me wonder you know one. What does that mean for all these digital advertising companies that kind of our that point right before you hit by And as well as how much time people must be spending online consumers platforms before they go on to you now. Consumed their dinner via door dash. Sir you know what that's a really good place it to really dig into because you know if i were say a a number two area where forecasters had to continually busied themselves. With reaching recalibrating. Numbers was in the area of time spent so let me just puts in perspective on that because i think most of us realize having or locked in an apartment or a house we start to go a little bit stir crazy. So what do we look to. We looked to digital activities to you know suck up our time and so a couple of things with these since cove it. Americans have increased the time that they spend with all media cross online and offline by about an hour and five minutes a day. So it's over thirteen hours a day. We're spending with media now. I do need to put a little caveat there thirteen hours you might be thinking. Wow that's a lot of time. And that's that's half the twenty four hours you know that are in a day. But it includes double-counting for multitasking. 'cause i don't think there's any of us on the planet that don't were we're watching. Tv have another device in our hand. We're doing something else right. And because we never know in the second or nanoseconds time where attention is fleeting from one. St the other way that attention actually lies. We have to double count that figure. So if you're spending an hour watching tv and you're on your mobile phone that whole time we have to double count That that our so it becomes two hours if that makes any sense so we're spending an extra hour a day and almost all of that Ghosts to digital so just to give some perspective before cove it we were spending. This is pretty pretty significant amount. We're spending about half a little over half of our day. Six hours and forty nine minutes a day Doing digital stuff alive. It was mobile. was streaming but then we went from six hours forty nine minutes in two thousand nineteen the pandemic hits and we go up by a an hour and a minute to seven hours and fifty minutes a day with digital And we think that digital time is going to continue to increase by twenty twenty two. We'll be spending eight hours a day with digital which was a little frightening for maybe some parents as they think of their kids. Because this is on average and if you think of kids and teens and it's probably way more than eight hours day so as we net out digital time now counts for roughly sixty percent of adults a total daily time spent with media and another area within within digital of course streaming Were all streaming more and when you think of time spent with streaming whether you thinking connected. Tv's court cutting or cord nevers. That's my favorite. Group is like college students who never will never have paid for a traditional pay. Tv subscription. why would they win. Their parents are basically donating their netflix account to their kids And then you got. Ot subscription activities with netflix amazon prime. And so on so. These numbers really shot way past our original pre covid estimates and so where we netted out. Was it in twenty. Twenty one time spent with digital video will have risen by thirty three minutes or over half an hour per day and so now we're spinning If we're looking at digital video time said about two hours and nineteen minutes And that's up from an hour and forty six minutes and twenty nine thousand nine but just a quick reality check. And then i'll let you jump in here. Reality check is that you might be thinking with all this streaming and so on that people are spending on average more time with digital video than they are with linear tv. But that's not quite yet. The case are estimated that traditional. Tv whether you're watching broadcasts abc cbs. Or you're watching a cable. Channel or direct access is is sixty percent of the time we spend with. A video is with traditional tv
Virginia Lawmakers Sign Off On Bill Legalizing Recreational Marijuana
"In virginia giving their final okay on saturday to a bill legalizing marijuana for adult recreational use but not until twenty twenty four when retail sales are slated to begin the new law allowing legal possession of up to an ounce of pot while dedicating thirty percent of marijuana tax revenue after program to a canvas equity reinvestment fund aimed at helping communities historically over-pleased for marijuana crimes virginia now joining fifteen other states and washington dc in legalizing
Virginia gives final approval to legalize the sale of adult-use cannabis in 2024 ahead of Washington DC legislation
"Virginia lawmakers have just given final approval to a bill to legalize cannabis. For adult recreational use the catches it takes effect in 2024 would retail sales of the drug would also begin. With this compromise bill Clearing the House and the Senate. Virginia becomes the first southern state to vote to legalize marijuana, joining 15 other states and the District of Columbia. The legislation now goes to Democratic Governor Ralph Northam, who supports the legislation.
Trade group: Retail sales should grow 6.5% to 8.2% this year
"Nation's largest retail trade group, is forecasting strong sales growth this year as more folks received the Corona virus vaccine. NPR's Alina Selya reports. The National Retail Federation predicts that American shoppers this year will spend more than $4.3 trillion. The group says retail sales will grow between 6.5% and 8.2%. The highest rates seen since 2004 that cover spending at stores but also on cars, gas at restaurants and bars. And the forecast is rooted in the idea that more people will start spending the money. They've been stashing away while cooped up during the pandemic. This year's growth would also build on the huge jump and spending that happened in 2020 despite the global crisis, when people spent heavily on home renovation, sports equipment, groceries and lots of online shopping.
"retail sales" Discussed on Yahoo Finance Daily
"The us department of commerce's monthly retail sales report is expected to reflect more moderation in consumer spending at the end of two thousand twenty consensus. Economists expect that retail sales were flat in over november. After a one point one percent drop during the previous month while spending likely increased steadily. On a non seasonally-adjusted basis the ramp in seasonal spending was likely lower than in previous years as the pandemic steadily worsened through the month and fewer family gatherings took place over the holidays. New amora chief economist. Louis alexander said in a note. Friday restrictions on restaurant activity resulted in sharp declines for open table data suggesting a decline in food service spending during the month however this will likely be offset to some extent by large increases in gasoline store sales considering higher retail gasoline prices during the month the november retail sales print represented the biggest drop since april's record plunge as virus related restrictions constrained spending on services and more than offset ongoing strength in good spending a nearly eighty percent plunge in department store sales and sharp declines in clothing store and restaurant spending contributed most heavily to the overall monthly drop in november but even with the month over month decline retail sales remained higher by more than four percent year over year thanks to a surge in spending on goods earlier on during the pandemic period. Total sales are set to close out the year better than they started it with our forecast for flat sales growth in december consistent with a four percent year over year gain. This remarkable feat cannot be said for many areas of the economy that continued to reel from the pandemic wells fargo economist. Jay bryson said in a note friday but retail has disproportionately benefited from a surge in good spending that said there remains wide variation in sales by retailer and we expect that these dynamics of varying sales continued last month amid rising virus case counts a weaker than expected print. In friday's retail sales report could also signal some additional pent-up. Consumer demand could come back for goods consumption in the coming months. Bryson added if sales exceed our expectations however it would be further support of our forecast that after a year defined by the virus households spent in record numbers this holiday season as the yearn for comfort and normalcy. He added for
"retail sales" Discussed on Yahoo Finance Daily
"This is young finance daily daily update on the top business finance stock market news from around the world. Let's jump in do today stories. I'm trevor ontiveros from yahoo finance brought to you. By the so-fi daily podcast. Eighty percent of new year's resolutions fail by the second week february if reaching financial independence is something. You're striving for in two thousand twenty one. Don't let your goals fall by the wayside. Listen to the s-o-f-i daily podcast every weekday to keep informed and keep your financial resolutions search for so-fi wherever you get your podcasts. Big banks kickoff q..
"retail sales" Discussed on Clark Howard Show
"All right Clark. Today we are going to start with one of a few different topics that we've got multiple on so this was a very very popular topic. Clark you really stunk it up and your soundproof and hopefully very airtight work from home space. Last week I've been a listener of yours for over ten years and I've never heard you so unbalanced on a topic. Please explain in more depth. Your one-sidedness in almost back to back answers that you gave in one answer. You explained how homeowners can put off their mortgage payment for up to six months through forbearance then in another answer concerning renters. You didn't offer any help towards renters and basically suggested that if unemployment is not coming through they should probably be evicted quote. You're not running a charity. I realized that you didn't write the unbalanced laws but come on Clark. You could've at least spent a few moments talking about how messed up. It is that homeowners. Get relief while renters. Don't I know you would agree that it's a gigantic advantage to be able to postpone six months mortgage payments? At least suggesting how there should be an equivalent remedy for renters would have probably been more tactful than just saying. They probably need to be evicted. Jewish so thank you for that post and you know. I've taken many questions from people who were tenants and want to know what they should be doing. And by the way there's new data out during the month of May the number of people who have not paid rent with is amazingly low and I think it's because of the uptake of people now receiving unemployment compensation who lost their jobs. The percent of people did not pay rent in May is somewhere between eight and nine percent which is Better than it was an April where there was a very high percentage of people who did not pay rent in the case of the conflict. You're talking about the second post. The second question was about an individual who is a landlord and I was telling you about the difficulties for the roughly half a rental properties in the United States is in the hands of an individual or mom and pop operator and they stand the chance of foreclosure if they're not receiving rent and so this is a very difficult thing and you may not have heard my explanation. Prior why Congress designed protections likely designed protections for mortgage holders more borrowers but not for Renner's and I think it's because the members of the house and the senator generally very wealthy people they really can't relate to the troubles that someone who rents would have and that's why they only thought in terms of home buyers and that's just a guess on my part the lack of sensitivity you heard and felt. I apologize for it. I was in a narrow focus at that point talking about the issues facing the landlord versus not really talking about the issues facing the tenant and now Joe Clark so Karen says up until today. You're one of my favorite radio hosts but you have drunk the Kool aid with your support of contact tracing APPs. As far as I'm concerned I want no part of the electronic monitoring that will be contact tracing. No thank you arlene my phone at home before I'll google or apple or Uncle Sam to follow me around. It's sad that you're encouraging this. When it's blatant opportunity for abuse contact tracing may have deep roots in epidemiology electronic monitoring is a very slippery slope and you were joined by the overwhelming majority of your your fellow. Americans who are completely turned off by the idea of electronic tracing people may have been exposed to corona virus. It's the most efficient way to do it. But because it's going to fail in the United States because so many people are fearful of electronic tracing of people who've been exposed. We're going to do it. The old fashioned way states are hiring contact tracers in very large numbers and it is actually job opportunity. We talked about on. The show is that this is a potential way to find employment in the we're doing at the old gumshoe kind of way. Where went someone has Been found to have corona virus. They will manually be contacted. Find out who they been near in the last two weeks and then those individuals will be contacted telling them that they are at risk of corona virus and at risk of infecting other people. So you speak for the vast majority of your fellow Americans that do fear that electronic intrusion Kim this is from Jerry he says Clark. I never thought I would ever ever post a car extinct. But I think your recen- piece about facebook to leading eroneous posts needs clarification. I'm sure there are many crazy. People posting all sorts of crazy things but facebook and youtube are deleting content that they deemed false. They become the media. Police in. This is scary. I know from personal experience that they are deleting messages from a licensed medical professionals who have an alternative view on Cova Nineteen. Facebook is determining what we should see in here. We are adults critical. Thinking should never be suppressed. Please don't support this. Thank you and it's always a difficult process to be the editor if you think about I've been Newspaper columnist for thirty years. Now and I've had tussles with editors from time to time in the past about content at a big disagreement at a point last year about content. I had written and in this case we are not being paid. Were not hired to work for these social media outlets and so it is something that people are feeling their way on and facebook has had a very very hard time for years figuring out. What actually is their proper role in doing things to edit content to make sure that inflammatory things that are false are not spread or in this case. That false information is put out that might put people at risk and so. I don't know the exact right way to do that. And so far. No there's no one in social media who really does but I do think it's important that people not see crazy kind of Weirdo posts out there. Somebody may take seriously an end up harming their health or their lives. And so if you have a better way to do that I love it because a lot of people take what they read as fact even when it's not Joe Clark Joe says the Cosco just like you however I've looked at their SEC filings and to say they run at a break even basis setting aside. The membership fees seems to be false. It's a little more nuanced. But the theme of how they don't mark up certain a over a certain percentage seems to be mythical I'll stated simply in writing is evidence that they don't mark up items over certain point Clark. It's I think he'd find it in their SEC filings but what they have said in Yeah I've done a number of interviews with executives at Costco on the TV side of my my life and the markup is fourteen percent capped on brand name items fifteen percent on their private label. Kirkland signature and if they have changed that and I'm out of date then that's something I should know but I'm not aware of change. That's happened with their pricing formula. It's really really unusual. And I know a lot of Wall Street. Analysts thought that Costco would be just destroyed by online sellers like Amazon and Costco. Instead has steadily gotten stronger over the years. And I think it's because of the pricing discipline that they follow that consistently has costco is pretty much the cheapest place you can shop. Kim. This is from Sarah. She says what is that smell. That's the smell of the dumpster. Fire that Clark set with his comment on working from home exclusively and the fact that he thinks it would prevent you from climbing the corporate ladder. It totally disagree. And I WANNA place a shout out to the software company KRONOS. I worked for and have been working for from home since two thousand eleven about seventy five percent of our staff works from home from around the world and I've witnessed plenty of advancement in our professional services area. My boss is a fine example of not having traditional facetime with senior leadership and she has moved up well in her fifteen plus year career. When I met her she was working. The sales side should then moved over to managing our group and now she is the director of all user adoption services. I'm very lucky to work for a tech company that has so many women in leadership positions. Please do not let this myth Clark stated deter anyone from seeking a remote job. I recommend looking at places like glassdoor and linked in to get an idea of which companies truly embrace a work from home mindset. That's a very very thoughtful post in the post. She said seventy five percent of work remotely. Yup from around the world yes so. That's an unusually high percent. That's a culture that's based on remote work. I was thinking in terms of the typical work environment. Where very small percent of labor hours is done remotely that? I think that people who end up working virtually full-time remotely outside of this. Corona virus era because of human nature being. What it is most organizations will find it their career growth is stunted because they're not visible and present in an office when most other people are in the case of where you were with being very forward thinking company with three quarters of people historically working remotely. The culture would be different in terms of how people interact and how people get promoted. I appreciate that post though. Joe Clark Brian says you don't stink smell bad for this day. Recently listener asked about what value they should ensure their house. For part of your answer was that they could buy a similar. How part of your answer was what they could buy a house for in the neighborhood. You completely left out the they should subtract the value of the land and if applicable the concrete slab foundation. My Lot is worth about twice as much as my structure so it would be idiotic and wasteful to ensure for what I would pay for similar home in the neighborhood. That is a very very good post and your situation where the land is worth appreciably more than the structure on it is unusual but that is a very valid point my experiences that when people have suffered a catastrophic loss of a fire or something out of their home that they turn out for rebuilding purposes to be substantially underinsured in end up without a pocket costs. So I always like to err on the side of having your home value for more for rebuilding purposes than for too little where you could end up with. Great exposure coming out of your wallet for a long time to come. I appreciate all your posts. Please remember that when you feel I have lost my mind. Whatever it is please go to Clark Dot com slash. Clark stinks and post away. If you have a question for me please go to Clark Dot com slash. Ask and Post it Joel. Europe Clark Jim in Texas says I love the podcast loveless and while I walk my question is now that I'm working from home. Is it reasonable to ask my employer for expenses? Such as Internet usage. Electricity in general wear and tear of my home. Computer job is very stable. And I'm ready to use my computer to be logged in for eight hours using equipment electricity amount for something though right so the electricity not very much but your Internet connection and the computer. You're using I understand. That companies should be giving some form of an allowance. You know the company's locked us out told us where we had to work and we've had to spend money in order to serve them. A lot of companies have been specifically issuing company computers. That they know we're going to be safe to use. They may be requiring us Company virtual private network so that eliminates the cost of the hardware. And your case. You're using your own computer and that's an expense that you should be reimbursed for in way the Internet connection is well you were using your own Internet connection for their benefit and that is reasonable for you to expect some reimbursement for it. But as I've said before on this topic a lot of employers are really worried about the company's future they're trying to hold onto every penny and you may find you. GotTa Know Your Own Company Culture before you say something about these expenses. You may find that the company mentality is. Hey look you still have a job and we're accommodating you working from home forgetting the fact they told you you had to work from home and so they may not be of good humor when you ask for reimbursements but if your company culture supports it. It is perfectly reasonable for you to ask for an expense allowance or reimbursement of expenses. Kim Rosalie in New York. Says is there a way to get a refund from a cruise line after accepting the credit turns out? I could really use the money instead. That is a great question and that is completely up to the cruise line. If once you've accepted a credit if they would then turn around and change it back to having a refund their cruise lines are trying to hoard every penny they can that none of them are actually based in the United States even though they have their corporate offices in the United States so it is really up to them. How they're going to behave to you and you might get different answers from different people. I would call. It's easier to get through to someone now the cruise lines in ask to explain your circumstance and see if they will consider giving you a refund instead of the credit. This is the Clark Howard show. Thanks for joining us today. The Clark Howard show is produced by Kim droves. Joel Wars Guard. Debra Reese anjem airs and Remember Twenty four hours a day where there to serve you at Clark Dot Com and card deals dot com..
"retail sales" Discussed on Clark Howard Show
"And for a couple of months we have not done. Cart stinks and we did. A Clark stinks a week ago. Now suddenly we got a lot more popularity for Clark Stink. So we're going to do it again in just a second. If you're not familiar with Kark stinks. I'm just a guy You hear my opinion. You hear what I feel is the right answer things. There are times. You'll feel my answer. Is Incomplete inaccurate or I just have like a thick hat and so I need to hear from you because this is different than a normal talk. Show it's not about me having the last word it's about me and you together all coming up with the best answers to help each other. And if I missing the mark in your opinion i WanNa know it and so you go to Clark Dot com slash. Clark stinks you post where you're angry at me or you disagree with me feel. I disappointed you. Others can read it comment on it agree disagree with you and then right here on Clark stinks you get to hear our show version of your comments. You posted online should've never encouraged to speak. I think I'm pretty stupid. Maybe maybe maybe you're right and here with Clark stinks them your posts.
"retail sales" Discussed on WSJ What's News
"Retail sales notched a third straight month increases in may showing consumers are willing to spend even amid continued trade tensions. Joining me now from Washington is Wall Street Journal reporter Sara Cheney the Syra consumer spending makes up about two-thirds of the nation's economic output. So what did we learn from the latest report about the health of the US retail sector? We saw that retail sales increase pretty strongly in may, and that follows a solid, April reading too. So overall consumers are doing pretty well and showing resilience Sarah, what are there, any particular segments in the retail sector that we saw that did particularly well in may? So it was pretty broad based, which is always a good signal for the economy. We saw retail sales rose and electronics sporting goods restaurants. Those are all sort of discretionary spending. Categories. So it shows that people have more money in their pockets, and they're, they're willing to go out and shop, some let's talk a little bit about inflation. We know the Federal Reserve keeps a close eye on that. And it's been running below their two percent. Target is the may retail report, a potential concern there. So really for consumers will inflation is good rates. So if you're going out to a store, and you're not seeing huge price increases. That's good for you. You can probably spend a little more money than you, otherwise would for the Federal Reserve at present somewhat of a dilemma, because it's been undershooting there two percent annual inflation target trade tensions, of course, continue to be in the headlines and the latest tariffs on China hit consumer goods. Are we seeing that impact retail sales at also far it's really hard to say at this point, but retailers could feel the squeeze from tariffs in coming months? The trump. Administration put tariffs of twenty five percent on billions of dollars of goods imported from China, the impacts products ranging from clothing to handbags to furniture in so merchants could either absorb the added costs from the price increases themselves, or they might have to pass them along to vendors or even consumers, but that remains to be seen in the coming months. That's Wall Street Journal reporter Sara Cheney joining us from Washington with more on the latest retail sales report. Thanks so much. Sara. Thank you. Now onto some more headlines from the Wall Street Journal. Bayer plans to invest more than five billion dollars over the next ten years on developing weedkillers as the company faces thousands of lawsuits, alleging that roundup the weed killer it inherited through its acquisition of Monsanto causes cancer. The company has lost the first three jury trials over round up all of which it is appealing as it continues to defend the product safety. Bayer says glysophate the active ingredient in roundup will continue to play a role in its portfolio. The company says on its website that it is working on more precise weedkillers, as well as cutting its environmental impact by thirty percent by the year, twenty thirty President Trump and his team or gearing up for twenty twenty reelection bid and our reporters found his campaign, this time around looks much different than it's it in two thousand sixteen the Wall Street Journal's Mike bender has more details this time around the campaign is really turning toward corporate warfare tactics. And away from the kind of seat of the pants campaign that Mr. Trump ran in two thousand sixteen down to a specific branding book guidelines for how the logo should look what kind of shade of red and blue go on merchandise when gold can be used for a specialty merchandise. And this is sort of the level of detail that we just did not see four years ago. The hope here is to present a very clean, image of the president to reassure supporters and try to win over skeptics. But the riskier is that this kind of spontaneous, and no-holds-barred campaign that Mr. Trump ran for years ago that they might lose a little bit of that energy, if they polish the edges off too much here, and we'd like to know what you think should the Trump twenty twenty reelection campaign, let Trump Trump, let us know with a comment at w S j. Dot com or by tweeting us at W S, Jay podcasts, and that's what's news for this Friday afternoon. I'm Anne Marie for totally for the Wall Street Journal. Thanks for listening.
"retail sales" Discussed on WSJ What's News
"Veterans Day on Monday with the consumer price index retail sales and industrial production data joining us now from Washington with more on what to look for is Wall Street Journal reporter, Sharon, none. Sharon, let's start with Wednesday when we'll get the consumer price index and real earnings wages or something. The Federal Reserve is keeping a close eye on as it monitors the economy for inflationary pressures. What can you tell us? Yeah. Absolutely. So for a little bit of some back story, consumer prices rose less than analysts in a communists had expected for the second straight month in September. Which usually is a sign that price growth pressures that businesses maybe feeling pretty much remain in check despite the fact that we're seeing solid economic growth and low unemployment that's kind of spurring wage growth. And so at the same time, if we see inflation cool price growth cool that actually makes makes wage growth and what you can buy with your more robust paychecks. Go a lot further. Right. So we saw. Inflation adjusted earnings rice at the strongest rate in six months recently onto Thursday. We'll get a snapshot of retail sales heading into the busy holiday shopping season this year that'll be without toy giant toys. R us. How retailers been looking heading into this important time of the year. Yeah. So retailers are pretty excited. I think we've seen some data recently suggests that consumers are looking to spend much more than they were and the holiday season this year than last year. We also saw data on Friday that showed that consumer sentiment pretty pretty high because of things like low unemployment and job growth again for some more backstory on retail sales in September. We saw the second straight month of week spending. But people are expecting that to pick up as maybe that week spending could have been as a result of recent hurricanes that we've seen in the south. Another report out on Thursday is the import price index trade has been a topic for months now. What trends are we seeing regarding US imports? Yeah. So we've seen import prices rise a little bit, but that's largely because of rising gas prices. So I mean that that could could go up or down depending on the way petroleum is acting, but you know, bracing import prices coupled with recent trade tensions could increase the prices Americans pay on a whole host of things that just kind of like touches every part of the economy. But still like we said earlier recent inflation gauges have been pretty muted. So at this point, it seems like the trade actions haven't actually hit American's pocket books yet. And then finally on Friday, we have a report on industrial production, which can be a good measure of the manufacturing sector. What else can this report? Tell us yet also has pretty good information on capacity. So we saw that manufacturers increased their capacity what they can produce for the sixteen th straight month in September. So again, I mean, we've we've seen different data points that show that the economy is strengthening, and because of that it's strengthening the manufacturing sector, and that report kind of continues to support that view. So yes, still international trade disputes like you said threatened that growth that we've seen in the manufacturing industry. Other surveys have continued to show that manufacturers are worried about the longer term impact of rising. Trade restrictions from both the US and other foreign countries and columnists are expecting industrial production to pull back in the coming months. Sharon last week, we had the latest economic assessment from the Federal Reserve, and it was a relatively upbeat assessment making another short term interest rate hike likely next month. It doesn't seem like there's much on the horizon that would cause the fed to deviate from its current path to continue gradually raising rates. Yeah. Absolutely. Inflation seems to be in check even though everything would point to the fact that shouldn't be in check right now. Jobs growth is continuing to power ahead pretty much. The fed has no reason to to change his path at this point. That's Wall Street Journal reporter, Sharon, none. Joining us from Washington with a preview of the economic data out this week. Thank you. So much Aaron thank you. And that's what's news. I'm Ameri for totally in New York for the Wall Street Journal enjoy the what's news podcast, then try the what's news newsletter. Sign up at W S, J dot com slash newsletters. That's WSJ dot com slash newsletters.
"retail sales" Discussed on WSJ What's News
"This week brings the minutes from the Federal Reserve September meeting plus retail sales and data on the housing market joining us now from Washington with the details is Wall Street Journal reporter, Sharon, none. Sharon, let's start with the fed minutes. A lot happened last week with the president. Again, criticizing the fed over short-term interest rates that was after Wednesday's market selloff. But the data were getting this Wednesday won't reflect that news instead. It will give us some insight on the September meeting. That's where the fed said. The economy remains strong and penciled in a fourth rate hike for the end of this year and last month, the Fed's seemed pretty confident and seeing that plan through. Yeah, yeah, that's true. So in that meeting in September, the fed raised short-term interest rates by a quarter percentage point, and it was there was this really interesting dichotomy that kind of has kind of showed up recently. And that's that some fed officials say as long as employment keeps falling farther below the level that they project is consistent with stable prices, the fed will need to raise rates to prevent. At the economy from overheating, which is like a very standard perspective, right? But there's this other camp, which is really interesting. That argues that this is this is more radical if inflation doesn't appear to be exceleron beyond two percent. And we've seen hints that that's the case. Recently with recent inflation reports, the fed could stop raising rates after reaching a so called neutral setting. And then of course, there's another strand to all of this fed talk. You know, President Trump has kind of bashed the fed in recent days, arguing it shouldn't be raising rates the way currently has been, and this is pretty unprecedented right. Politics of usually been left out of the monetary policy realm. So fed policymakers, monetary policy makers could do what they feel like is necessary without congressional or presidential oversight essentially. So that's kind of what we're looking for further evidence in the feds reasoning for choosing to raise rates by an another quarter percentage point, right? And more experience of this kind of divide between fed officials whether or not we should keep raising rates or or pull back if inflation stops player. The way it had been in previous months. So let's turn to retail sales. That data is out on Monday. We've seen pretty strong results from major retailers with a few exceptions. What will you'll be looking for in this report? Yeah. So it's it's key to remember. Of course, that consumer spending is the key driver of the us economy. It represents about two-thirds of g. p. of our economic output and in August US, consumers kind of actually rained in their spending after a very strong spending growth that we saw in July, which I think is kind of reflected in those earnings reports. But still, I mean to put this into perspective, the overall weakness that we saw in August was largely due to a drop in auto sales. So you know, that may not necessarily say something as strong as if maybe we'd seen across the board spending declines. There's one interesting thing to add here though. One PNC economists that w spoke with said that hurricane Florence may actually mess up the spending data for September and a pretty interesting pattern going forward with purchases ahead of the storm. You know, maybe things like food and other supplies decline in sales in the immediate. Aftermath, right? And then and then gains again during the recovery phase when people are making purchases for repairs on the like. So this week also brings several housing reports. We have the housing market index on Tuesday than housing starts on Wednesday and existing home sales on Friday. Last week, we learned that housing mortgage rates are nearing five percent. What can this week's data tell us in that context about the health of the sector and where it's headed? Yeah, absolutely. The rising mortgage rates, you know, it's good in terms of showing that the fed sees that the economy is healthy, Right Math where we're raising rates, you know, that kind of feeds into the different interest rates that we see in different borrowing aspects of the economy, but it's bad in that we're seeing that mortgage rates combined with rising prices for homes. It's kind.
"retail sales" Discussed on WSJ What's News
"Yes economists that were surveyed by the wall street journal are expecting a point four percent increase in overall retail sales for me as you said that's pretty good number one thing to keep in mind though is that these data are not adjusted for inflation so if you see for example a big pickup in gasoline prices which we have that can sometimes boost the headline figure without signifying an actual increase in sales that would be good for the economy but we'll be looking at that data pretty closely to try to filter out the effects of gas prices filter out even swings in auto sales and try to see what the underlying trend is the trend was weak at the beginning of the year than it seemed to pick up a head in the spring and we'll be looking see if there's another strong reading for may that means that gross domestic product growth tracking for the second quarter is going to be looking pretty good and on tuesday the labor department releases the may consumer price index speaking of trends inflation has picked up the past few months hasn't it that's right we had a run of soft inflation last year which was due to we think sort of one off factors that now are starting to filter out of those numbers or seeing those yearoveryear price increases picking up a bit and that is what we are expecting see for may as well that annual inflation will continue to pick up but it's a real question whether that pickups gonna continue if we do see a continued increase in inflation especially on that core measure when you exclude the volatile food and energy prices that's something that the fed might look at and they'll be meeting tuesday ends might say you know this is a reason for us to maybe move a little faster on interest rates to try keep inflation in check if we see a soft number if it comes on the downside maybe the fed looks at and says well we we're not too worried about an outbreak of inflation right now we've got inflation around our two percent target that we've been struggling for so many years maybe we don't put the brakes on quite so much so that's definitely a report that's going to be closely watched both at the fed and and by the rest of us and on friday.
"retail sales" Discussed on WSJ What's News
"I fed policymakers suggested that there was a split between people who wanted to move a total of three times in two thousand eighteen and people who wanted to move a total of four times at this point in the year assuming they go this week that would mean do they go one more time or two more times we're expecting to get some clarity on that we may get some clarity on that i should say from updated economic projections that they'll be putting out with their policy statement on wednesday afternoon it's called dot plot it shows the expected level of the federal funds rate at the end of the year and people are going to be looking at those dots pretty closely to see if the median has inched up to that four rate hikes spot and of course we'll have the statement itself which has language that tries to describe the expected future course of policy and we'll have the press conference that chairman powell beholding after those things are out where he'll be facing questions not only on where the economy is right now but on that path of rate hikes ben is there any possibility fed chairman pal might be asked about the trade tensions caused by the tariffs that president trump has imposed i mean do they worry fed pa makers will he be asked that it's certainly possible that he'll be asked about that or about the other things happening on the world stage we may not get a straight answer though the federal reserve tries to avoid going too far into politics they like to stay in their lane on the economy but certainly if there are things happening in the trade front that could affect the us outlook that would affect them that would affect how they view the economy and how they set policy so it's possible he could give us some sense of what the fed is thinking about the possible effects of tariffs on the economy how that might affect fed policy but i would be surprised if he got to deep into sort of the pros and cons of political decisions being made at the white house that's not something the fed has typically waited too deep into then on thursday we'll get the commerce department's report on may retail sales it is a key indicator on whether consumers have been spending april sales.
"retail sales" Discussed on WSJ What's News
"Reports this is what's news from the wall street journal this podcast is sponsored by intel not that you would push your computer to new limits but you could with the eighth gen intel core processor with intel obtain memory and when i say push i'm not just talking about opening photoshop i'm talking about opening photoshop and illustrator and every application on your computer at the same time just for fun new computers powered by the eighth gen intel core processor with intel obtain memory are now faster and more responsive which means you can open load and launch like never before learn more at intel dot com slash you could welcome back what will the fed do what will the fed say federal reserve policymakers gathered tuesday and wednesday for their monthly meeting to discuss interest rates in the economy it's widely expected the fed will raise interest rates at this meeting also in the new week we'll get economic reports for the month of may on retail sales consumer prices and industrial production joining us to discuss these key data points which could move the markets is wall street journal economics reporter ben lubes dorf who's in washington ben the feds two day meeting contains not just the gathering itself but the policy statement at meetings and followed by a press conference from fed chair jerome powell it seems like a key question will be how many more times might the fed raise interest rates this year assuming we get a second rate hike on wednesday that's right and we are expecting as you said that they will raise rates on wednesday so the question then follows what will they do for the rest of the year back in march their economic projections they economic projections may.
"retail sales" Discussed on WSJ What's News
"The wall street journal podcast are brought to you by american express no matter what you do from business and finance to a podcast about business and finance it's easier when you don't go it alone the powerful backing of american express don't do business without it what's news from the wall street journal top stories and timely insights this is charlie turner in new york some major economic reports are on deck this week including retail sales and inflation but the fed's policy meeting is the big event we'll get a preview from the wall street journal's ben loop store f i hear some top stories on tuesday a federal judge will decide whether at and t can acquire time warner concluding a lawsuit brought by the justice department to derail the merger on antitrust grounds the wall street journal says the judge's verdict will shape a much broader drama a radical reordering of the entertainment business that's reaching every corner of hollywood major entertainment and media companies have been seeking merger partners in a bid to compete with technology giants like net flex which has been successful and poaching consumers with its streaming service the us north korea summit scheduled for tuesday and singapore is sure to dominate the headlines of swimming it's not canceled again president donald trump is meeting with north korean leader kim jong un the big annual video game expo known as e three arrives in los angeles this week as giant game makers were enjoying robust profits and soaring stock prices but the one hundred billion dollar plus industry built on players trekking two stores to buy hot games previewed at e three is undergoing significant change people are increasingly downloading the newest hit straight to their devices instead of buying them on discs for the first time this year more than half the global revenues expected to come from mobile games alone the majority of which in an ironic twist are free to play and in the latest growth story millions of gamers are devoting countless hours not to gaming themselves but watching other people play both casually and competitively coming up we'll preview the feds two day meeting and a few other economic.
"retail sales" Discussed on WDRC
"We had a report on retail sales that came out this week and retail sales declined in the month of february by one tenth of one percent that is the third consecutive month that retail sales have declined they declined in december in january and also in february the decline in the month of january was one tenth of one percent on a revised basis so what's going on here why are we seeing three consecutive months of declining retail sales well one of the reasons could have the do with the delay and tax refunds your member or perhaps last year you might remember there was a delay in the tax refunds and that certainly resulted in some slippage in economic growth in the first quarter in fact we've seen this for more than one year in the first quarter i think we're going to see a soft first quarter we'll see growth in the first quarter but it will not be robust growth based on everything we're looking at so what they've done at the irs is they've taken steps to reduce fraud and as part of these procedures we've seen delays in tax refunds another factor that could have played a role in these disappointing retail sales is weather in the northeast portion of the country we've had a particularly severe winter season in many areas in fact hard to believe but they're getting ready for another winter time nor'easter along the mid atlantic and new england coast by the middle of this coming week just in the days ahead they've had a series of these nor'easters nor'easters can be really severe storms so that's what we're looking at their at the same time i think we have to say we have to admit when we look at these retail sales figures that consumers are not in spending mood there's just not in a spending mood and this is even though they have had some wage increases along the way on a yearoveryear basis they've had about two point six percent wage increases and so it's interesting with the tax reform package that went through and with everything else that's going on out there sooners really not in a spending mood vehicle sales have.
"retail sales" Discussed on Bloomberg Radio New York
"Percent of online retail sales on the losing side ali seven thousand closures had already been announced this year and companies like toys are us payless radio shack many others have all filed for bankruptcy according to a dopey five billion dollars was spent on line by the end of black friday a new record and up to seventy percent i'm anne cates and i'm susanna palmer from bloomberg world headquarters a highstakes legal clashes unfolding over president donald trump's temporary pick to run the consumer financial protection bureau trump yesterday said he's naming white house budget director mick mulvaney to be the temporary head of the cfpb the announcement came just hours after outgoing cfpb director richard cordery said he was tapping a deputy of his to run the agency on an acting basis ousted cutter lon president carl's pushed pitched his candidacy ahead of next month's regional election bridge d'amato who maintains he is the legitimate regional president after being fired by the central government of spain will lead a new platform under the banner of together cattle hot toys were hard to find in stores yesterday jim silver editor in chief of tweet review website t t p m says among the doubt were thing rulings robotic monkeys luca plus moving dolls and pick me pops and lol surprised big surprise both of which hide dolls or small stuffed animals in plastic balls that are wrapped in several layers of packaging macy's says it has fully resolved problems related to it's also seeing some give and credit cards yesterday the giant retailers struggled to process credit cards in its stores due to john hume balance the retailer kicked off the holiday season a spokeswoman said some transactions took longer to handle.
"retail sales" Discussed on WSJ What's News
"Forty million people in mexico do not have access to the internet or company attempt temporary this is building an at work that will connect them to the world road insurance policies that the mexican government are investors partners the confidence they needed to make this happen they also cover out construction great damage to the network an environmentalist potion for the project these complex child was the one learn more at chug dot com slash wsj what's news from the wall street journal top stories and timely insights i'm charlie turner in new york will have a preview of the upcoming weeks economic schedule including a retail sales report right now let's look back at the week just completed on wall street stocks ended lower friday and for the week both the dow jones industrial average and sp 500 broke eight week winning streaks civil last losing wake occurred back in september up until now let's look back at the week just completed an also look ahead for the markets with the wall street journal's michael worst horn mike it seems to me that investors have really counted on congress passing a tax reform bill by year's end that may or may not happen there are differences between the house and senate versions and the senate bill also proposes a one year delay and cutting the corporate tax rate and i suppose that can of help the markets no i mean th that the last two days that's what really put the the markets and sort of a i i guess at the very least a minor tailspin on thursday we saw a things start out where things are already sorta trading down a little bit just on concerns that the senate was gonna release a bill that was going to be.
"retail sales" Discussed on KBNP AM 1410
"Moral actually we have retail sales we have sentiment and industrial production tomorrow in all of this data i'd been distorted by the hurricane so the recent hurricane disruptions really you know distorted economic data at the end of focused and the and the beginning of september so that's what we seen the data that's what create issues for our policy makers we don't think they will somehow deviate from what the uh have already decided to do it this timber meeting we think they will go ahead with the balance sheet dunblane but it makes it really hard for them to really look at economic data inflation data and and what's going on we're gonna be careful right because he knew the data points are going to be skewed a little that because of the hurricane in the storms and staff the cpi data this morning included a spike in gasoline prices which was man do to hurricane harvey and actually lodging prices now all fun hotels and motels also spied because people had too little way from the houses and rent so these kind of distortions will actually become more severe as you know september progress it's still bulls september next told that data might still be distorted by those hurricane still going into the end of the year we might still have distorted economic data which will also make it more difficult for a fit policymakers to make a decision on our policy rates at the december meeting well well what does he expect no so we're we've got that we've had some destruction obviously there what's happened folks nile industry is horrible that much worse than than than what we saw domestically but we saw.
"retail sales" Discussed on WLOB
"Percent the biggest increase in seven months stocks are rising yet again fox business network lawyer rothman live out the new york stock exchange antic morning david vows at twenty he points the number is north korea backstop it's the rats guam zapped about this retail sales surged a tenth of a percent analysts were only expecting f threetenths percent improvement since relief for those traditional retailers with online sales have rocketed at twelve percent apple last year according to the commerce department dave thank lower the price of oil down about thirty cents falling to close to forty seven bucks a barrel while gases also slightly lowered today aaa national average for regular exactly 235 again alan chicago is getting some help fighting the federal government over an illegal immigration crackdown san francisco in a state of california are suing the department of justice city attorney dennis rarest says doj threat to withhold law enforcement grant funding is unconstitutional the department of justice does not have authority from congress to impose these conditions for good reason doj has set of cities want funding that immigration agents neat easy access to jails in order to speak with undocumented immigrants and local officials must be willing to hold undocumented people beyond their release dates how the epa sarah's niece state attorney general now the federal government is using the threat of its power of its size to bully local jurisdictions to do what they want the doj said in a statement the places like san francisco know all too well the devastating effects sanctuary policies have on city safety jessica rosenthal fox news mazdas recalling eighty thousand cars and suvs some of them for a second time to replace dangerous takada airbag inflators minis nineteen people have been killed by those inflators over the years i'm dave anthony fox news.
"retail sales" Discussed on Bloomberg Radio New York
"Uk retail more specifically because the british highstreet may have found some rest spots in june with the help all but aids yes so summer is here and that may have helped retail sales so i guess a lotta people do love summer especially when it's nice out there's good weather ends bloomberg intelligence is expecting that that sunshine that good weather encourage more people to have sake haitians and had people are hosting more barbecues and and go out shopping for more summer clothes and so that being said this calling for retail sales to rebound by zero point four percent during the month of the june in that is on the back of a drop at one point two percent in may so summer definitely shedding some light on uk retail sales now indeed okay thank you so much for joining us this morning a christina how they m one last question for you having said that we do get the latest figures from you leave in in thirty minutes what are we expecting deliver really underlying profit is expected to gain just over three percent three point one percent in particular and what we're really be of interest though it is going to be any comments on mergers acquisitions the company has just missed out on its pursuit of rackets food business yeah we we saw that news of a court picking out earlier this week so any details on future plans or opportunities will be definitely worth noting that and then just yes if we see that profit gained that would backup pledges from the ceo to improve profitability so should be a little bit of a good source of our this quarter yeah prophet gang would certainly make the seats of pulp holman the ceo slightly more comfortable thank you very much indeed.