“Do we have what we need? The answer at the moment is, ‘No,'” says Graham Evans, an analyst with IHS Markit.
“It’s very difficult to change people’s core perception of what your brand is,” he said.
“Today’s report is just the sort of ammunition the Fed doves need to argue against additional rate hikes this year,” said Chris Rupkey, chief financial economist at MUFG in New York, referring to the group of Fed officials who generally argue for a go-slow approach to hiking interest rates.
“Facebook has proven themselves to be a fierce competitor ,” Gartner analyst Brian Blau said. Facebook, he added, understands how to get more and more people to sign up and keep using its services.
“We are still seeking to hire hundreds more candidates for open associate roles. Our hiring team is holding hiring events pretty regularly,” Ashley Robinson said.
“Price increases vary across the country, unlike the earlier period when rising prices were almost universal,” David Blitzer, chairman of the Index Committee at S&P, said.
The Labor Department said Thursday that its producer price index, which measures inflation pressures before they reach the consumer, edged down 0.1 percent last month, reflecting a third month of declines in energy prices and a flat reading for food. The July result followed a tiny 0.1 percent gain in June. It was the first drop in wholesale prices since a decline of 0.2 percent last August.
THE NUMBERS: Weekly unemployment applications rose by 3,000 to a seasonally-adjusted 244,000, the Labor Department said Thursday. The less volatile four-week average declined 1,000 to 241,000. The number of people collecting unemployment benefits has fallen 8.8 percent over the past 12 months to 1.97 million.
“They’ll hear things like you should use 30 percent of your credit limit to have good credit scores, which is not true,” Griffin says.
Macy’s has cut jobs and closed some stores to try to reverse falling sales. It has also started an off-price brand, and it plans to launch a loyalty program in the fall that it hopes will bring more shoppers through its doors. CEO Jeff Gennette cited “a notable contribution” from changes in the women’s shoes and jewelry departments.