Thursday, January 24, 2019

National Retail News

NOTE: The US Commerce Department has not reported retail sales for December due to the shutdown of the federal government. Reports from other sources indicate that holiday retail sales were strong: Total US retail sales, excluding automobiles, rose 5.1% between Nov. 1 and Dec. 24 from a year earlier, according to Mastercard SpendingPulse, which tracks both online and in-store spending with all forms of payment. This is the strongest holiday sales increase in six years. Overall, U.S. consumers spent over $850 billion this holiday season, according to Mastercard. Among retailers still reporting monthly sales, L Brands was flat and Costco was up 6.1%. See sales reports below4...Sears Holdings Corp. selected chairman Eddie Lampert’s ESL Investments as the winning bidder in the company’s bankruptcy auction. Under the terms, ESL will acquire substantially all of the company’s assets, including 424 stores, for approximately $5.2 billion. Lampert’s offer is the only one that would keep Sears up and running. The offer is subject to court approval, with a hearing currently scheduled for February. Provided conditions are satisfied, the transaction will close on or about February 8.

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