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Archive for the ‘consumer’ Category

So far it’s good news for 70 percent of the companies in the S&P 500 that have reported their quarterly results. Nearly three quarters of them have beat analysts’ earnings estimates. Compared to a year ago, profits for the S&P 500 were up 37 percent. In addition, sales were up 9 percent on average across all sector expect for the banking industry. Although this sounds like good news, CEOs are not celebrating yet.

“Sales are simply not keeping up with rising material costs,” Barry James, portfolio manager of James Advantage Funds, told CNNMoney. “They can’t pass off the costs to consumers yet, so profit margins are going to have to take a hit.”

Read more on CNNMoney.com.

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MSNBC.com featured a video on October 16, 2009 about a new study showing that many businesses are optimistic about the retail industry, but others wonder whether that optimism will last throughout the holiday season.

According to the video, Morgan Stanley sees signs of “sustained modest growth” and Deloitte is predicting a pick up in spending based on an increase in consumer clash flow because of things like a lower tax burden and a decline in the unemployment rate.

 Take a look at the video and let NSSEA know your thoughts!

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