Here are the news stories you might find interesting today:
Economic Update: Christmas in July to Boost Retail Sales?
As expected, June was a lousy month for retail sales–except at a few retailers, probably including Wal-Mart Stores Inc., though the giant retailer doesn’t report monthly comparable-store sales. How to get shoppers back into the department stores, besides giving them jobs or a sense of job security, if they have jobs? Bring Christmas into July, of course. At least that’s the idea behind Sears Holding Inc.’s setting up Christmas decor shops at 372 Sears stores right after Independence Day.
Discounter Wal-Mart winning over shoppers
|Finding a parking spot near the Wal-Mart Supercenter at Santan Gateway in Chandler is not easy on a sizzling summer day. Still, on a recent sunny afternoon, hundreds of shoppers braved vast expanses of packed parking lot in searing heat to get from their cool vehicles to the megastore. As the economy shrivels, the world’s biggest retailer, which a few years ago sparked local and vocal protests when it tried to build a new store or two in the East Valley, appears to be having a resurgence in popularity.|
Republic cuts 100 employees
|The Arizona Republic made another round of layoffs Thursday as part of Gannett Co.’s overall cut of 1,400 jobs at its newspapers.|
Government-insured mortgages skyrocket
|The number of mortgage loans insured by the U.S. government jumped to their highest share of total loan applications in nearly 20 years, according to a report by the Mortgage Bankers Association.|
New figures show Arizona tourism industry clearly in pain’
|Numbers just released from the Arizona Office of Tourism bring home the effects of the recession on the state and the Phoenix area.|
Arizona attorney general files consumer fraud suit against Tucson real estate pros
|Several Tucson-based real estate professionals, including the designated broker of a prominent Re/Max franchise, were slapped with a consumer fraud lawsuit Thursday by Arizona Attorney General Terry Goddard.|
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