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Discounts failed to goose customers into spending in January, leaving sales at Wal-Mart and other retailers less than stellar.
Same store sales at Wal-Mart rose a mere 0.5 percent, lower than analysts estimated, Bloomberg writes. Among retailers across the board, the increase was also 0.5 percent, the worst since January 1970.
Consumers cut back on spending following the loss of 17,000 jobs in the past month. In 2007, home values also declined for the first time since the Great Depression.
In response, department stores and shops cut rates up to 75 percent on clothes and bedding.
Sales at Nordstrom nonetheless fell 6.6 percent. And Target, the second-largest discount chain in the nation, fell 1.1 percent.
But not all retailers suffered - too badly, anyway. Children’s Place Retail Stores Inc. reported a six percent augmentation in same-store sales, beating an estimated gain of 3.6 percent.
AnnTaylor Stores Corp. sales reflected no change from the year earlier, also an improvement from the expected 3.7 percent decline. And Gap Inc. same-store sales decreased two percent, better than the 6.1 percent drop analysts predicted.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
The 82nd annual Macy’s Thanksgiving Day Parade pulled an average 12.6 rating/26 share on Thanksgiving morning, Nov. 27, according to Nielsen.
That was 8% higher than its telecast last year, Mediaweek writes. NBC estimated that a total 44.7 million viewers…
Time magazine ousted Cosmo as the top magazine for college students in this year’s Anderson Analytics fall survey.
Time also jumped past People, which was last year’s No. 2, writes Ad Age. A Time spokesperson said the magazine did not run…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
