Retail sales

On ABC’s “This Week” on Sunday, both Paul Krugman and Robert Reich offered far more pessimistic views of the economy than the rosier outlook put forth by Federal Reserve Chairman Ben Bernanke on Friday. Krugman described the economy as languishing in purgatory. Reich explained that the only good news is that the economy is getting [...]

Sure, President Obama delivered a major speech on the economy and new figures show falling retail sales in March. But let’s face it, the biggest economic news probably is a judge’s ruling today that disgraced financier Bernard Madoff’s season tickets to the Mets can be auctioned off to benefit victims of his Ponzi scheme, Reuters [...]

Via Financial Armageddon, the new reality of retailing is that consumers are not the only ones cutting back on spending and changing their shopping behavior. It’s finally sinking in to retailers that maybe people don’t want pricey jeans anymore, or that they may be unwilling to drop $1,000 or more on leather jackets.

The bursting of the retail bubble that we discussed on Monday continues, and at a faster pace than expected. Mall vacancies reached a 10-year high in the fourth quarter of last year, Bloomberg reports. Things are only expected to get worse, according to research firm Reis Inc.
From Bloomberg:
Regional mall vacancies rose to 7.1 percent last [...]

Guess what turned out to be a popular gift this holiday season? Piggy banks. Retailers reported that sales of the old-fashioned way to save flew off the shelves, Reuters reports:
“We have been selling coin banks really well,” said Laura Kellner at Kikkerland Design Inc. in New York City, whose stylish chrome pig is priced at $31.