Must have been some great Christmas numbers.
Teen fashion purveyor Wet Seal has announced it will close 338 stores — two-thirds of the company’s retail locations — in a move that will result in layoffs that will affect about 3,695 employees.
The decision isn’t exactly a surprise, as the retailer has struggled to compete with larger fast-fashion competitors such as H&M that offer more on-trend merchandise. Wet Seal ( WTSL 130.73% ) , which last year announced it would close its Arden B locations, has reported annual losses in 2012 and 2013 as sales tumbled lower. The company is also poised to report a third consecutive annual loss and another year of sliding sales for 2014.
The holiday season is historically slow in the mortgage business, but this time around it was particularly quiet.
For the week ending January 2, 2015, total mortgage application volume was down 9.1 percent from two weeks earlier, on a seasonally adjusted basis, according to the Mortgage Bankers Association (MBA). The reading included additional adjustments for both New Year's Day and Christmas Day, when banks were closed.
Applications to refinance existing mortgages decreased 12 percent from two weeks ago, according to the MBA, while mortgage applications to purchase a home fell 5 percent. December is the slowest month of the year in the housing market, but there is more weighing on sales than just a winter chill.
Food Lion already closed all the Bottom Dollars in Maryland.
But expensive Toll homes all up and down the west coast.
The prices are sure to double along with your vision with the radiation poisoning.
BTW- My FTR shares have been on DRIP for decades, way before Maggie.
Oh yes, and FTR is a much larger company now due to acquisitions. This is the reason for share dilution and dividend decreases. WIN is getting ready for a 30% divvy cut.
The gas bag opines....
Yo sage -- I sold my FTR long position out in 2011 at $8.08.
I then traded it a few times -- always long -- and made some money.
But went she went under $5 I just watched.
But you on the other hand have been on DRIP since FTR peaked at around $16 right before Maggie started to jack things up so she would have a bigger sand box -- so the stock is down from $16 to about $6.75 today or a slide of about $9.25 -- that's about a 60% slide. And that parallels the divvy cut. Funny how that works.
At $16 the dividends bought fewer shares, and as the pps decreased, the dividends bought more shares.
See how that works?
FTR was under $6 for a few years, and a dozen or so dividends. Those shares are up big.
1 year return= 44%
2 year return= 62%
Not including dividends.
Shhh....don't tell beeess and d.i.n.k.y !!!
Let's let them think they were right all along.
Its better that way.
More downward revisions.
Sales of new U.S. single-family homes fell for a second straight month in November, a sign that the housing market recovery remains fragile.
The Commerce Department said on Tuesday that sales declined 1.6 percent to a seasonally adjusted annual rate of 438,000 units. October's sales pace was revised down to 445,000 units from 458,000 units.
Economists polled by Reuters had forecast new home sales rising to a 460,000-unit pace last month.
New home sales, which account for about 8 percent of the housing market, tend to be volatile month to month. Compared to November last year, sales were down 1.6 percent.
A report on Monday showed home resales tumbled to a six-month low in November.
The housing market is being hobbled by a slow pace of household formation, a result of sluggish wage growth. An acceleration is expected next year as a strengthening labor market fosters a faster pace of wage growth.
Last month, new home sales fell in the Northeast, the Midwest and the South. They rose 14.8 percent in the West.
The stock of new houses available on the market rose 1.4 percent last month to 213,000, the highest since May 2010.
At November's sales pace it would take 5.8 months to clear the supply of houses on the market, up from 5.7 months in October. The median new home price rose 1.4 percent from a year ago to $280,900.
We're calling you out wyo.
I just did a quick search of Toll projects in Arizona and the Grand Villas at Scottsdale mountain isn't even listed.
But I'm so smart, but what about demographics, but everybody and their cousin is buying with cash.
Looks like the Cap'n might be pawning his parrot.
If so, perhaps The Captain and Tennille can get jobs entertaining the crews....if there are any left?
The Baltic Dry Index Has Never Crashed This Fast Post-Thanksgiving
We are sure it's nothing - since stock markets in China and The US are soaring - but deep, deep down in the heart of the real economies, there is a problem. The Baltic Dry Index has fallen for 21 straight days, tumbling around 40% since Thanksgiving Day.
This is the biggest collapse in the 'trade' indicator (which we should ignore unless it is rising) since records began 28 years ago...
As The Index itself hovers very close to the post-crisis lows...
Nice way to implement across the board pay cuts, and without increasing UE rate.
The Connecticut-based tech giant Pratt & Whitney will furlough most of its salaried workers in the U.S. on seven different days in 2015 in an effort to cut costs.
According to a company spokesperson, the following dates have been scheduled as non-work, non-paid days:
Easter weekend on Monday, April 6
Memorial Day weekend on Friday, May 22
Fourth of July weekend on Monday, July 6
Labor Day weekend on Friday, Sept. 4
Columbus Day weekend on Monday, Oct. 12
Thanksgiving holiday on Wednesday, Nov. 25
Christmas Eve on Thursday, Dec. 24
Pratt spokesperson Ray Hernandez said that although the company has recently developed new programs that will increase revenue in the future, "we won't see the benefits of our new programs for a few years."
The company has also made launched several new projects that have required large investments. As a result, Hernandez said, Pratt "continues to face significant near-term financial challenges."
Hernandez said Pratt has made a number of moves to reduce costs, of which the furloughs are one. Other changes including the implementation of labor reductions, voluntary separation programs, travel and hiring restrictions and layoffs.