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☆ U.S. holiday sales to slow as inflation tests consumer resilience -report
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

[1/3] A boy and his father walk through the toy section of Walmart on Black Friday, a day that kicks off the holiday shopping season, in King of Prussia, Pennsylvania, U.S., on November 29, 2019. REUTERS/Sarah Silbiger./File PhotoNov 3 (Reuters) - U.S. holiday sales are expected to rise at a slower pace this year, a trade group said on Thursday, at a time when decades-high inflation has left Americans struggling to pay bills, draining some of the Christmas cheer from households. The National Retail Federation (NRF) forecast holiday sales, including e-commerce and non-store sales, to rise between 6% and 8% to between $942.6 billion and $960.4 billion during November and December. "While (early discounts) may result in some sales being pulled forward, we expect to see continued deals and promotions throughout the remaining months," NRF Chief Economist Jack Kleinhenz said. "In the face of these challenges, many households will supplement spending with savings and credit to provide a cushion and result in a positive holiday season," President and Chief Executive Matthew Shay said.

☆ Chipotle says price hikes lift revenue as customers show ‘minimal resistance’
▼ + stars: | 2022-10-25 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Customers order from a Chipotle restaurant at the King of Prussia Mall in King of Prussia, Pennsylvania. Chipotle Mexican Grill on Tuesday reported quarterly earnings that topped analysts' expectations as another round of price hikes hit its menus. CEO Brian Niccol said that the company saw "minimal resistance" to higher menu prices during the quarter, although transactions declined 1%. The company reported paying more for dairy, tortillas, avocados, packaging and labor. For the fourth quarter, Chipotle is predicting same-store sales growth in the mid- to high-single digits.

☆ In pictures: The rise and fall of Sears
▼ + stars: | 2020-05-19 | by ( ) edition.cnn.com time to read: +1 min

Black Friday shoppers line up outside a Sears store in King of Prussia, Pennsylvania, in 2007. Sears was both the Walmart and Amazon of its time. But Sears, like many department stores, has fallen on hard times. The decision kept 425 stores open and saved the jobs of about 45,000 employees. But its downward spiral has continued, leaving the company with only 15 full-line Sears stores still open, and only 7 Kmarts, with three of those in the US Virgin Islands, one in Guam and only three in US mainland.

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