Retailers forecast that 2011 will be a year spent dealing with inflation, expanding stores and trying to wean shoppers off their markdown habit. Faced with rising costs that are pushing their prices higher, merchants say they have to focus on growing sales, regardless of the economic pressures.
Stocks fell again on Wednesday, and oil prices briefly crossed the $100-a-barrel mark after violence escalated in Libya. Oil traders are spooked about the possible spread of turmoil. Tech bellwether HP's disappointing outlook also hurt.
Deadly clashes in Libya sent shockwaves through various markets yesterday, setting the stage for more turbulence in the sessions ahead. Gold and oil have already spiked higher on world markets, and U.S. investors will also see some major earnings and economic reports.
Many of America's best-known retailers, including Walmart, Home Depot and JCPenney, will be stepping into the earnings spotlight this week. Their reports come on the heels of disappointing January retail sales numbers from the Commerce Department.
This season's series of colossal storms have cost millions of dollars for states, municipalities and businesses. But companies in these six industries are finding that the rough winter's snows are a gift from the weatherman.
Home Depot raised its 2010 outlook, and expects both sales and profits to rise in 2011, when it plans to open 10 new stores. The nation's biggest home improvement retailer expects sales to rise approximately 2.3%, up from a previously projected 2.2% gain.
Among today's top stories for investors, read about China Media Express: a Wall Street drama; a retail surprise to the upside; and Warren Buffett's latest holdings.
