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Latest Business News: Costco Strong, L Brands Weak as Retailers Report June Sales

Wochit 0:57 mins

Sales at U.S. retailers, including Costco Wholesale Corp and the company that runs Victoria's Secret, suggest that overall U.S. consumer spending is improving while discretionary spending may remain under pressure. Analysts expect a 3.6 percent rise in June sales at stores open at least a year across the 11 U.S. chains that report this data each month. The problem with deploying Hail Mary turnaround strategies is two-fold: a large amount of luck if not divine intervention is needed, and there aren't a lot of alternatives left in the likely event of failure. Such is BlackBerry's situation. Federal Reserve Chairman Ben Bernanke said that the U.S. dollar seems to be doing "OK" and that the central bank's policies are not aimed at trying to boost U.S. exports.

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