The high-end department store starts accepting Visa and Mastercard in hopes of attracting a younger, broader customer base. Pedestrians walk past a Neiman Marcus store on the Magnificent Mile March 5, 2009 in Chicago, Ill. (Scott Olson/) Jeremy Hobson: There's a big change happening today at Neiman Marcus. The exclusive department store -- which for years has only accepted American Express, Neiman's own credit card, or cash -- is going mainstream. Marketplace's Jennifer Collins reports. Jennifer Collins: Today, Neiman Marcus department stores start taking Visa and Mastercard. Vincent Quan teaches business at New York's Fashion Institute of Technology. Vincent
Coming into the economic downturn's fourth holiday season, dollar stores and high-end retail are looking to fare better than the middle. Shoppers and pedestrians cross 34th Street outside of Macy's Herald Square department store in New York City. (Chris Hondros/) Jeremy Hobson: Family Dollar reports earnings later today, and the outlook is pretty good. The company is benefiting from a growing number of Americans who are in the mood for discounts. Interestingly, at the other end of the retail spectrum, high-end shops are also doing okay. As Marketplace's Adriene Hill reports, you can see the trends in plans for
With the changing economy, mega-retailer Walmart faces a price competition from higher -- and lower-priced stores A Walmart store. (ROBYN BECK/AFP/) JEREMY HOBSON: We'll get quarterly earning reports this morning from Target and Abercrombie and Fitch -- and maybe they'll say something that'll lighten the mood in the retail sector after Walmart said yesterday that its US sales were down for the 9th straight quarter. So what's the matter with the world's largest retailer? Here's Marketplace's Eve Troeh. Eve Troeh: Walmart has always sold itself as a low-price leader. And customers bought that, until the last few
If Borders closes all its stores, competing bookstores like Barnes & Noble will probably suffer through some short-term pain. Marketplace's Jeff Tyler takes a look at the repercussions.
Shoppers are returning to the malls slowly, which should provide for a better mood as the International Council of Shopping Centers meets this weekend. Bahrainis walk at a mall in central Manama. (JOSEPH EID/AFP/) Jeremy Hobson: Thousands of retailers, developers and lenders are meeting in Las Vegas this weekend for a retail real estate convention. During the recession, shoppers abandoned malls for online deals and discount shops. But now that trend is reversing as Marketplace's Janet Babin reports. Janet Babin: The International Council of Shopping Centers says people are spending more at the mall -- 3 percent more than