People continue to spend. In the spring, household spending rose at an annualized rate of 4.2 percent, driving overall economic growth. But more and more, they now want bargains and convenience — in stores and online — and know how to find them.
“Given the convenience of e-commerce, the consumer needs a really good reason to go to a store and park their cars,” said Edward Yruma, a managing director at KeyBanc Capital Markets. “It has to be exciting and have something new, because if not, why wouldn’t I sit on my couch in my pajamas and shop...
13:48 J.C. Penney to close up to 140 stores, offer buyouts16
13:09 JCPenney shuttering up to 140 stores as sales weaken, more sluggish growth seen ahead14
17:21 Stocks mixed after Treasury Secretary points to significant tax reform; industrials lag23
18:41 U.S. home sales hit 10-year high, prices soar16