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Good Tidings: December Comp Sales Better Than Expected

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New York—Despite unpredictable weather and politics in Washington, retailers managed to beat what had been lowered expectations for December comparable store sales. Of the 17 or so major retailers reporting today (excluding drugstores), total December comparable store sales rose 4.5%, topping analysts’ estimates for a 3.3% increase. Even better, the …

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October Retail Comps Up; Sandy Effects Yet to be Felt

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New York—While October retail comparable store sales increased nearly 5%, some retailers cautioned today that their November—and even holiday totals—could be adversely affected by the Superstorm Sandy. Of the 17 retailers (excluding drugstores) tracked by Thomson Reuters that posted October results today, overall comparable store sales rose 4.7% better than …

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Former Managers Sue Wet Seal for Racial Discrimination

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Santa Ana, CA—Three former managers at Wet Seal filed  a federal race discrimination suit against the specialty retailer on Thursday, alleging the company discriminated against African Americans because they didn’t fit “the brand image.” The lawsuit, filed in the Federal District Court, claims that Wet Seal’s “most senior executives” discriminated …