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"The number of jobs created is working its way down slowly and wages are starting to calm down. Money market bets show 75% odds of a 25-basis point hike in the Fed's February policy meeting, with the terminal rate expected just below 5% by June. ET, Dow e-minis were up 103 points, or 0.30%, S&P 500 e-minis were up 16 points, or 0.41%, and Nasdaq 100 e-minis were up 56.75 points, or 0.51%. Macy's Inc (M.N) and Lululemon Athletica Inc (LULU.O) dropped 4.7% and 10%, respectively, following dour holiday-quarter forecasts from both the retailers. Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Other rate-sensitive growth stocks like Apple Inc (AAPL.O) and Alphabet Inc (GOOGL.O) gained about 1% each as U.S. Treasury yields declined. The gains pushed technology (.SPLRCT) to the top of the major S&P 500 sector indexes list. The S&P 500 growth index (.IGX) was up 3.6%, outperforming a 0.7% rise in its value peers (.IVX). Advancing issues outnumbered decliners for a 3.68-to-1 ratio on the NYSE and a 2.15-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and two new lows, while the Nasdaq recorded 95 new highs and 14 new lows.

☆ Macy's tempers holiday sales view, warns of more inflation pain ahead
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +1 min

Jan 6 (Reuters) - Macy's Inc (M.N) said on Friday it expects fourth-quarter sales to come in at the lower end of its forecast, blaming a deeper-than-expected lull in shopping between the season's major holidays. While that helped sales during major shopping occasions such as Black Friday and Christmas, Macy's said the periods in between those days saw bigger-than-expected drop-offs in spending. Chief Executive Officer Jeff Gennette said the company had taken steps to better align its merchandise with the expected slowdown in demand. Macy's net sales are now expected to be at the low end to mid-point of its previously forecast range of $8.16 billion to $8.40 billion. Reporting by Uday Sampath in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Forming smaller bargaining units can be an important organizing strategy for unions when they lack support from a majority of employees. But business groups say that smaller units fracture workplaces and complicate collective bargaining. The 2017 decision had placed the burden on unions to show that groups of workers were "sufficiently distinct" from other employees. The U.S. president appoints NLRB members but the board is an independent agency and the White House does not control its decisions. Reporting by Daniel Wiessner in Albany, New York; Editing by Alexia Garamfalvi and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Cyber Monday set for record sales of $11.2 bln as shoppers wait for discounts
▼ + stars: | 2022-11-28 | by ( Uday Sampath Kumar | ) www.reuters.com time to read: +2 min

The Adobe Analytics report predicts spending on Cyber Monday to rise 5.2% as inflation-weary consumers have been putting off holiday shopping for weeks in the hopes of deep post-Thanksgiving markdowns. Cyber Monday sales fell 1.4% last year as retailers spread out promotional deals across weeks from as early as October to better manage inventories amid widespread product shortages. "With holiday promotions kicking off long before the Thanksgiving weekend, consumers have been shopping strategically for the season's best deals," said Mastercard Chief U.S. U.S. shoppers also spent a record $9.12 billion online on Black Friday, according to Adobe Analytics. However, with sporadic rain in some parts of the country, brick-and-mortar stores and malls saw thinner crowds than usual.

☆ S&P 500 inches higher as Black Friday sales kick off
▼ + stars: | 2022-11-25 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

SummarySummary Companies Retailers in focus as Black Friday sales startActivision down on likely FTC lawsuit to block Microsoft dealApple slips, Foxconn China plant sees lower shipmentsIndexes: Dow up 0.5%, S&P inches 0.1% higher, Nasdaq off 0.3%Nov 25 (Reuters) - The benchmark S&P 500 edged higher on Friday, with focus on retailers as Black Friday sales kicked off against the backdrop of stubbornly high inflation and cooling economic growth. The S&P 500 retail index (.SPXRT) slipped 0.1% on Friday, bringing its year-to-date losses to a little over 30%, while the S&P 500 is down 15% so far this year. "We're going have a higher-than-expected Black Friday sales number. The S&P 500 (.SPX) rose 3.41 points, or 0.08%, at 4,030.67, while the Nasdaq Composite (.IXIC) slipped 36.70 points, or 0.33%, at 11,248.61. The S&P index recorded 16 new 52-week highs and no new low, while the Nasdaq recorded 39 new highs and 42 new lows.

☆ Inflation? Recession? Starting Black Friday, holiday shoppers are planning to spend
▼ + stars: | 2022-11-25 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

"People are pretty consistent on how much they expect to spend on holiday shopping," said Laura Wronski, senior manager of research science at Momentive. The survey results reveal the consumer divide in the economy, with spending concerns more prevalent at lower income levels. 1 shopping holiday The survey has consistently found that the hype around shopping holidays is often higher than the actual excitement among consumers. 1 shopping holiday that Americans say they will spend on. One in five (21%) are "most excited" to go shopping on Black Friday, almost double the consumers planning to shop on Cyber Monday (12%).

☆ Investors look for clues on consumer health as holiday shopping kicks off
▼ + stars: | 2022-11-25 | by ( David Randall | ) www.reuters.com time to read: +4 min

NEW YORK, Nov 25 (Reuters) - Investors are closely watching U.S. retail stocks as a barometer of consumer confidence as inflation bites, as the most important shopping season of the year begins on Friday. That would come in below both the 13.5% jump reported last year, and the 9.3% gain in 2020. Expectations for purchasing long-lasting manufactured goods fell 21% due to high interest rates and high prices, the survey found. Shares of Walmart are up 7.5% for the month to date, while shares of Target are down 1.2%. Kohl's, meanwhile, withdrew its forecast as it faces weakening demand due to rising prices.

☆ Best Buy forecasts smaller drop in sales ahead of holiday season
▼ + stars: | 2022-11-22 | by ( Uday Sampath Kumar | ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - Best Buy Co Inc (BBY.N) on Tuesday forecast a smaller drop in annual sales than it had previously estimated, saying it was confident that a ramp up in deals and discounts will bring in more inflation-weary customers during the holiday season. Best Buy expects full-year comparable sales to fall about 10%, compared with a previous forecast of a decrease of about 11%. "Best Buy may be better positioned for the holiday season than other retailers," said Jason Benowitz, senior portfolio manager at Roosevelt Investment Group. "We expect modest growth in consumer holiday spend this year and believe many companies hold too much inventory relative to demand, while Best Buy appears to have rightsized its holdings ahead of the season," Benowitz added. However, heavier discounts will take a toll on holiday-quarter profit margins, Best Buy warned.

☆ Abercrombie posts surprise profit, sees better holiday-quarter sales
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - Abercrombie & Fitch Co (ANF.N) on Tuesday posted a surprise third-quarter profit and forecast a smaller-than-expected drop in current-quarter sales as it remains "cautiously optimistic" for the holiday season. The Ohio-based retailer's shares were up about 14% in premarket trading after the company also reported better-than-expected third-quarter sales even as inflation dampened discretionary consumer spending. Abercrombie expects fourth-quarter net sales to fall about 2% to 4% in fiscal 2022, compared with analysts' average estimate of a 6.3% drop, according to Refinitiv IBES data. Excluding items, Abercrombie reported a profit of 1 cent per share in the third quarter, compared with estimates of a loss of 16 cents. The company's net sales fell 2.8% to $880.1 million, but beat estimates of $831.1 million.

Reuters GraphicsMelissa Benhaim, a 32-year old publicist in Miami, started her holiday shopping slightly later than usual this year. A Saturday shopping day between Thanksgiving and Christmas this year gives shoppers extra time to hold out for better bargains. Holiday shopping is expected to slow broadly. Reuters GraphicsBut toy prices, even with discounts, are up about 2.4%, DataWeave found. Shoppers are paying $16.99 for the toy this year at Kohl's, after discounts, compared to $11.54 last year, according to DataWeave.

Several other Fed officials in recent days have also stressed the need to continue raising rates, albeit at a slower pace. "The Fed is trying to make sure the market doesn't get too ahead of itself," said Tim Holland, chief investment officer at Orion Advisor Solutions. "They're trying to walk this rhetorical tightrope where in between meetings and big data points, they're reminding the market that they're still tightening." Traders are now pricing in 89% odds of a 50-basis-point rate hike from the Fed in December and see terminal rate at around 5% in June 2023. The S&P index recorded no new 52-week high and one new low, while the Nasdaq recorded 12 new highs and 101 new lows.

Softer-than-expected inflation data in recent days had boosted expectations of smaller interest rate increases, but strong retail sales figures on Wednesday stoked fears that the Fed could keep tightening the monetary policy further. Several other Fed officials in recent days have also stressed on the need to continue raising interest rates, though at a slower pace. Wall Street closed the previous session lower as a grim outlook from Target Corp (TGT.N) sparked concerns about retailers heading into the crucial holiday season. ET, Dow e-minis were down 384 points, or 1.14%, S&P 500 e-minis were down 52.5 points, or 1.32%, and Nasdaq 100 e-minis were down 177.5 points, or 1.51%. U.S.-listed shares of Alibaba Group Holding Ltd fell 2.1% after the Chinese e-commerce giant posted a smaller-than-expected rise in quarterly revenue.

☆ Macy's raises annual profit forecast on firm luxury demand
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Upscale department store chain Macy's Inc (M.N) raised its annual profit forecast on Thursday on resilient demand for high-end suits, gowns and beauty products as wealthier shoppers were undeterred by inflation. Like other retailers, Macy's has introduced more discounts to clear excess stock of casual and athleisure apparel, while luxury goods sales has held up relatively well. The department store chain said it expects fiscal 2022 adjusted profit of $4.07 to $4.27 per share compared with its previous forecast of $4 to $4.20. Net sales at the department store chain fell to $5.23 billion in the third quarter ended Oct, 29 compared with $5.44 billion a year earlier. Reporting by Deborah Sophia and Uday Sampath in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Shares of Target Corp (TGT.N) tumbled 13.1% after the big-box retailer forecast a surprise drop in holiday-quarter sales. The S&P 500 consumer discretionary sector (.SPLRCD) shed 1.5%. The S&P 500 information technology sector (.SPLRCT) fell 1.4% and the Philadelphia SE Semiconductor index (.SOX) sank 4.3%. Elsewhere in retail, shares of Lowe's (LOW.N) rose 3% after the home improvement company raised its annual profit forecast. The S&P 500 posted 3 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 71 new highs and 133 new lows.

☆ Gap beats quarterly estimates on steady demand for formal clothing
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

Nov 17 (Reuters) - Gap Inc (GPS.N) beat Wall Street estimates for quarterly sales and profit on Thursday, helped by steady demand for its formal clothing and dresses from affluent consumers despite a surge in inflation, sending its shares up about 8%. However, Gap echoed retailer Kohl's (KSS.N), which on Thursday warned soaring prices of essential commodities had dampened lower-income consumer's spending on non-essential spending like apparel. Gap expects fourth-quarter net sales to be down in mid-single digits, compared with analysts' expectations of a 0.6% decline, according to Refinitiv IBES data. In October, Gap removed products from its Yeezy Gap line created in partnership with Kanye West, and shut down YeezyGap.com following the rapper's anti-Semitic comments. Gap's third-quarter net sales rose 2.5% to $4.04 billion, topping analysts' estimates of $3.80 billion.

Shares of Target Corp (TGT.N) tumbled 12% after the big-box retailer forecast a surprise drop in holiday-quarter sales. Micron Technology (MU.O) shares dropped over 7% after the company said it would reduce memory chip supply and make more cuts to its capital spending plan. The S&P 500 information technology sector (.SPLRCT) dropped 1.3%, while the Philadelphia SE Semiconductor index (.SOX) sank over 4%. Elsewhere in retail, shares of Lowe's (LOW.N) rose over 3% after the home improvement company raised its annual profit forecast. The S&P 500 posted 3 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 54 new highs and 110 new lows.

REUTERS/Brendan McDermid/File PhotoSummarySummary Companies October retail sales rise more than expectedTarget's dull outlook weighs on retailersMicron's supply cut triggers chip selloffIndexes: Dow up 0.05%, S&P down 0.51%, Nasdaq down 1.10%Nov 16 (Reuters) - The S&P 500 and Nasdaq fell on Wednesday as a grim outlook from Target spurred fresh concerns for retailers heading into the crucial holiday season, while Micron's supply cut triggered a selloff in the chip sector. Target Corp (TGT.N) tumbled as much as 17% in early trading as a pullback in consumer spending despite heavy discounting cut its third-quarter profit by half. Despite the sales warning from Target, data showed U.S. retail sales increased more than expected in October, boosted by purchases of motor vehicles and suggesting that consumer spending remained stable. Declining issues outnumbered advancers for a 1.73-to-1 ratio on the NYSE and for a 2.23-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and two new lows, while the Nasdaq recorded 50 new highs and 104 new lows.

The data showed retail sales rose 1.3% last month led by motor vehicles after remaining flat in September. Economists polled by Reuters had forecast sales accelerating 1%. Among S&P 500 sectors, retail (.SPXRT) and consumer discretionary (.SPLRCD) were down 1.9% and 1.7%, respectively. Declining issues outnumbered advancers for a 2.10-to-1 ratio on the NYSE and for a 2.41-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and two new lows, while the Nasdaq recorded 33 new highs and 56 new lows.

☆ U.S. retailers take a knock after Target's sales warning
▼ + stars: | 2022-11-16 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

But shares in Target's larger competitor Walmart (WMT.N) edged up 1.1%, a day after lifting its annual sales and profit forecast as demand for groceries held up despite higher prices. With annual inflation running at 7.7% in October and high interest rates, shoppers are reining in discretionary spending, bad news for retailers that rely on year-end shopping to boost annual sales. U.S. Commerce Department data showed U.S. retail sales improved more than expected after no growth in September. Bucking the retail trend, home improvement chain Lowe's Cos Inc (LOW.N) added more than 4% after raising its annual profit forecast, while discount store operator TJX Cos Inc (TJX.N) bumped up annual same-store sales forecast, rising almost 1%. Walmart, Target shares recover as CPI peaksReporting by Medha Singh in Bengaluru; Additional reporting by Bansari Mayur KamdarOur Standards: The Thomson Reuters Trust Principles.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. Despite the sales warning from Target, latest data on U.S. retail sales suggested that consumer spending remained stable and could help to underpin the economy in the fourth quarter. The data showed retail sales rose 1.3% last month after remaining flat in September. Economists polled by Reuters had forecast sales accelerating 1%. ET, Dow e-minis were down 57 points, or 0.17%, S&P 500 e-minis were down 14.25 points, or 0.36%, and Nasdaq 100 e-minis were down 71 points, or 0.6%.

☆ U.S. retailers knocked as Target warns on gloomy sales outlook
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

Target shares were forecast to open nearly 14% lower, dragging down other retailers. Target's larger competitor Walmart (WMT.N) slipped nearly 2%, a day after lifting its annual sales and profit forecast as demand for groceries held up despite higher prices. With annual inflation running at 7.7% in October and high interest rates, shoppers are skimping on discretionary spending, a gloomy prospect for a sector that relies on year-end shopping for a large portion of its annual sales. Target shares lost 22.7% of their value since the start of the year until Tuesday, while Walmart edged up 1.9%. Walmart, Target shares recover as CPI peaksReporting by Medha Singh in Bengaluru; additional reporting by Bansari Mayur KamdarOur Standards: The Thomson Reuters Trust Principles.

Amid persistent inflation, investors have been nervously eyeing how consumer spending pans out during the crucial holiday season, when retailers make more than a third of their annual profits. The world's largest retailer by sales forecast holiday quarter U.S. same-store sales, excluding fuel, to increase about 3%, below estimates of a 3.4% increase. The company's comments follow those of FedEx and Amazon, which have also warned of muted holiday season demand in recent weeks. Home improvement chain Home Depot (HD.N) on Tuesday left its annual forecasts unchanged, adding to holiday season concerns amid a slowing housing market. read moreFor the full-year, Walmart forecast net sales to rise 5.5%, above its previous forecast of a 4.5% increase.

The Labor Department's producer prices index rose 8% in the 12 months through October, lower than an estimated 8.3% rise, according to a Reuters poll of economists. Excluding volatile food and energy costs, the index rose 5.4% on an annual basis last month after increasing 5.6% in September. The report follows softer-than-expected consumer prices data late last week, which sparked a massive rally on hopes of a less aggressive monetary policy. "It (the data) is going to confirm people's hopes that inflation is starting to turn the corner. The S&P index recorded no new 52-week highs and no new lows, while the Nasdaq recorded 23 new highs and 27 new lows.

☆ Macy's to hire more than 41,000 workers for holiday shopping season
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterShoppers are seen outside Macy's in the Manhattan borough of New York City, New York, U.S., March 30, 2021. Sept 26 (Reuters) - Macy's Inc (M.N) said on Monday it plans to hire more than 41,000 full-time and part-time workers ahead of the upcoming holiday shopping season. Last year, Macy's had planned to hire 76,000 full- and part-time workers for the holiday season, with about 48,000 of the roles specifically for the holiday season and the rest of the roles were permanent positions beyond the holidays. Earlier this month, Macy's Chief Financial Officer Adrian Mitchell said the company expects holiday shopping to start early this year. Last week, Target Corp (TGT.N) said it plans to hire up to 100,000 seasonal workers for the holiday season, while rival Walmart Inc (WMT.N) announced plans to add 40,000 workers in seasonal and full-time roles.

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