Retailers are in for a mixed holiday season this year, marked by watchful consumers keeping big spending on a tight leash and vigilantly comparing prices on their mobile phones.
Retail sales increased slightly more than expected in October as households boosted purchases of motor vehicles and electronic goods.
The number of Americans filing new applications for unemployment benefits fell to a five-month low last week and consumer spending increased more than expected in September.
Over 400 7-Eleven stores across North America will begin closing, according to an announcement from the Slurpee and convenience store chain.
Sports Brand Nike announced on Thursday, that CEO John Donahoe will retire after more than five years of being in charge of the company as the brand has struggled recently with sales and other competition.
Consumer spending increased solidly in July, arguing against a half-percentage-point interest rate cut from the Federal Reserve next month.
Target raised its full-year profit forecast on Wednesday and reported its first increase in quarterly comparable sales in over a year.
The Dow jumped over 500 points and the Nasdaq increased 2% on Thursday as retail sales data indicated resilient consumer spending, somewhat calming fears of a possible recession.
A sharp slowdown in the U.S. job market that touched off days of global stock-market turmoil also fueled speculation the Federal Reserve may not wait until its next scheduled meeting.
U.S. prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services.