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In Depression-era Baltimore, Mr. Posner used his grocery store earnings to build low-cost housing, selling the homes for less than the prevailing market prices but retaining the land beneath the houses.
It's been a solid week for department store earnings.
U.S. stock futures opened higher Monday, as investors prepare for news from the Fed and department store earnings this week.
As store earnings plunged last week, the National Retail Federation proposed that the country create the mother of all sales by suspending taxes on all purchases.
If, for example, our hypothetical steelworker takes that DM1,900-a-month DM1,900-a-month DM1,900-a-monthuld chip in an extra DM860 a month, bringrocerystorecery store earnings to 77% of his aftertax steel mill income.
Last week's news from the Labor Department that private business has added 151,000 jobs in October represented the fastest improvement in jobs growth since July, and good news from the retail sector came in the form of Macy's department store earnings and General Motors third quarter profits.
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The world's largest store reports earnings Thursday and Dreher predicts a quarterly profit of 86 cents a share, in line with the consensus.
Macy's plans to shut 100 stores as earnings fall; its stock soars 17%.
Intimate Brands, which runs the Victoria's Secret and Bath & Body Works stores, said earnings would fall by 2 cents.
The company stepped up liquidation of slow-selling products at its American stores, reducing earnings by $50 million, or 20 cents a share.
Last week, J. C. Penney, based in Plano, Tex., said its chairman and chief executive, James Oesterreicher, was resigning, after two years during which store sales and earnings slumped and the retailer's stock market value dipped by $15 billion.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com