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1. Eddie Bauer Files for Bankruptcy Protection
- Thursday, June 18, 2009
NEW YORK (AP) - Struggling mall retailer Eddie Bauer Holdings Inc. filed for Chapter 11 bankruptcy protection on Wednesday but said a bidder already has agreed to keep the majority of its 371 stores open, honor gift cards and hold onto most employees.
2. After 60 Years Circuit City Powers Down
- Tuesday, March 10, 2009
RICHMOND, Va. (AP) - What began 60 years ago as a humble television store in this sleepy Southern capital ended Sunday as Circuit City closed its doors for good – its 567 remaining U.S. stores to be left broom clean and vacant.
3. J.C. Penney Reports 51 Percent Slide in Q4 Profit
- Monday, February 23, 2009
NEW YORK (AP) - J.C. Penney Co. reported a 51 percent drop in fourth-quarter profit Friday as customers sharply cut spending on clothing and other items. The results beat Wall Street expectations, but the chain projected a wider first-quarter loss than analysts had predicted.
4. Circuit City Ripples Go Beyond Vacancies, Layoffs
- Thursday, February 5, 2009
Circuit City will finally flicker out when its last 567 stores close this year, but the bankruptcy of the nation's second-largest electronics retailer will ripple across the U.S. economy for years.
5. After Sales, Will Shoppers Pay Full Price Again?
- Thursday, January 8, 2009
NEW YORK (AP) - Shoppers are getting used to those 75 percent off sale signs, and that's bad news for merchants who worry they will also have to quickly slash prices on spring goods to attract customers.
6. US Consumer Confidence Rises in November
- Wednesday, November 26, 2008
Consumer confidence rose in November amid receding gasoline prices, but Americans’ views on the economy remain the gloomiest in decades as they face massive layoffs, slumping home prices and dwindling retirement funds.
7. J.C. Penney Q3 Profit Falls by More than Half
- Monday, November 17, 2008
NEW YORK (AP) - Department-store operator J.C. Penney Co. said Friday its third-quarter profit fell by more than half as consumers cut back on spending and took fewer trips to the mall amid the deteriorating economy.
8. Retailers Report Steep Sales Declines
- Friday, November 7, 2008
The nation’s retailers saw their sales plummet last month to the weakest October level since at least 1969, as the financial crisis and mounting layoffs left shoppers too scared to shop.
The stunning and rare drop from an already weak September is further darkening the outlook for the holiday season and raising more concerns about the financial health of the industry, which is not expected to see a recovery until at least the second half of 2009.
9. Service Sector Shrinks As New Orders Drop
- Thursday, November 6, 2008
Hotels, construction firms and retailers saw business shrink in October as slower spending and declining employment sent the service sector into contraction, another gloomy sign for the economy.
The Institute for Supply Management, a trade group of purchasing executives, said Wednesday its service sector index suffered a sharper-than-expected drop to 44.4 in October from 50.2 in September.