Saturday, December 16, 2017
Business

U.S. June retail sales surge 4.1 percent

A welcome trio of factors — perkier job prospects, summer temperatures and more affordable prices — helped retail sales in June beat expectations.

Same-store sales at shops open at least a year — a measure that strips out the volatility of openings and closings — rose 4.1 percent last month from the same period a year earlier, according to Retail Metrics.

The surge is the largest since sales swelled 5.1 percent in January. Retailers had struggled through the spring as they dealt with storms and chilly temperatures and "an economic soft patch," said the group's president, Ken Perkins.

June results beat forecasts of a 3.7 percent boost and also outperformed the 3.8 percent increase recorded in May and the 0.3 percent upswing in June 2012, he said.

The cause, according to Perkins: "An improving labor market coupled with falling gas prices during the month, seasonably warmer temperatures that drove summer clearance, rising home prices and generally better macroeconomic conditions."

Stein Mart said sales were up 6.5 percent due to strength in linens, ladies' casual sportswear and women's boutique goods. Menswear and female special sizes were less impressive.

The retailer, which has 262 stores, said Florida and other gulf states drew high revenue.

A separate account of retail sales from Thomson Reuters also showed companies beating Wall Street forecasts. Predictions of a 3.8 percent sales increase when including drugstores and a 4.8 percent surge without them proved inaccurate.

Thomson Reuters calculated that the 11 retailers in its roundup enjoyed a 4.2 percent uptick with drugstores and a 5 percent rise without.

Comments
Taxpayer subsidies of Tampa golf courses are on the rise as struggles continue

Taxpayer subsidies of Tampa golf courses are on the rise as struggles continue

TAMPA — For the half of the year that Harry Nichols lives in Oldsmar, he plays 18 holes several times a month at Rocky Point Golf Course. On a good day, Nichols said he shoots close to par on the Dana Shores course. And if he’s really lucky, it’ll on...
Published: 12/15/17
Updated: 12/16/17
Fueled by indulgence and machismo, restaurants are a hotbed for sexual harassment

Fueled by indulgence and machismo, restaurants are a hotbed for sexual harassment

When Brenda Terry was 16 and living in St. Louis, she was a hostess and food runner at a sports bar where female employees wore cute, little cheerleading skirts. One night, she said, a patron grabbed her crotch. She ran to her management team and the...
Published: 12/15/17
Pigs can be therapy animals too. So can horses and rats and cats and llamas and … (w/video)

Pigs can be therapy animals too. So can horses and rats and cats and llamas and … (w/video)

Shrieks of laughter echoed off the walls of the hospital as Thunder the mini pig flopped onto his side and the children huddled around him, scratching his pink, hairy belly. He and his wet-nosed partner, Bolt, drew patients in wheelchairs and bandage...
Published: 12/15/17
Vology landlord challenges property tax assessment

Vology landlord challenges property tax assessment

LARGO — Eight months after paying $10.15 million for the office building that houses IT services company Vology, a New York company is suing the Pinellas County Property Appraiser and Florida Department of Revenue contending its $5.5 million tax asse...
Published: 12/15/17
Florida’s $1.1 billion Hardest Hit Fund winding down after some hard knocks

Florida’s $1.1 billion Hardest Hit Fund winding down after some hard knocks

In 2010, Florida was in the throes of an unprecedented housing crisis. One in every eight homes was in some stage of foreclosure. Today, the foreclosure rate is one in every 83. Because of that enormous drop, Florida’s Hardest Hit Fund will s...
Published: 12/15/17
Report: Rich will get still richer unless policies change

Report: Rich will get still richer unless policies change

By ELAINE KURTENBACHTOKYO — Global inequality has stabilized at high levels in recent years, a report said Friday, despite gains among the poor in China and much milder disparities in incomes and wealth in Western Europe. The World Inequality Report ...
Published: 12/15/17
How the Disney/Fox deal will shake up Hollywood

How the Disney/Fox deal will shake up Hollywood

Associated Press NEW YORK — After years of tremors, the earthquake that had long been predicted finally shook Hollywood. Disney’s deal to purchase most of 21st Century Fox ends the era of the "Big Six" major movie studios, toppling one ...
Published: 12/15/17
St. Petersburg’s Museum of the American Arts and Crafts Movement set to be complete in 2019

St. Petersburg’s Museum of the American Arts and Crafts Movement set to be complete in 2019

ST. PETERSBURG — The Museum of the American Arts and Crafts Movement, under construction since 2015, is scheduled to be complete by the summer of 2019.The five-story, 137,100-square-foot building will house businessman and collector Rudy Ciccarello’s...
Published: 12/15/17
Obamacare enrollment ends today, but some can get an extension

Obamacare enrollment ends today, but some can get an extension

Today is the day that open enrollment for the Affordable Care Act will close for most people. But those affected by the slew of hurricanes that pummelled Florida, Texas, Puerto Rico and other states earlier this year can take advantage of a two-week ...
Published: 12/15/17
Pack your bags: 107.3M Americans to set holiday traveling record

Pack your bags: 107.3M Americans to set holiday traveling record

A record-breaking number of Americans are expected to travel this holiday season.The American Automobile Association projects that 107.3 million Americans will pack their bags and travel more than 50 miles by planes, trains, automobiles and other mod...
Published: 12/14/17