Target Steals Title Of ‘Cheapest’ From Wal-Mart

English: Logo of Target, US-based retail chain (Photo credit: Wikipedia)

Editor’s note:  There is a very good video to watch if you click on the link below.

For the first time since October, Target gas reclaimed the title  of  “cheapest” from its fellow big-box retailer, Bloomberg reported, and the gap was the biggest its been in the two years the difference has been tracked.

That’s especially important in today’s economy, as cheap is exactly what consumers are looking for.  High unemployment, coupled with rising gas and food prices, means customers are as cash-conscious as ever.  And while retail sales finally improved in July, that was one of the first good signs for the sector in months.

Both companies have thus been trying to lure in those penny-pinching customers with discounts and slashed prices. The key to Target’s success in the pricing department  came from the addition of groceries to many stores, which cut into Wal-Mart‘s advantage on food prices.  The company has also added discount incentives through its REDCard.

Read more: http://money.msn.com/top-stocks/post.aspx?post=84caede6-927a-488e-842c-322ae9654306

U.S. Steel Earnings Higher Than Estimates

 

U.S. Steel Tower in downtown Pittsburgh, Pennsylvania. (Photo credit: Wikipedia)

U.S. Steel Corp., the country’s largest producer of the metal, reported second-quarter earnings that beat analysts’ estimates after demand rose for tubular products.

Net income fell to $101 million, or 62 cents a share, from $222 million, or $1.33, a year earlier, Pittsburgh-based U.S. Steel said today in a statement. Profit excluding one-time items was 69 cents a share, exceeding the 49-cent average of 19 estimates compiled by Bloomberg. Sales declined to $5.02 billion from $5.12 billion, compared with the $5 billion average estimate.

Demand from U.S. Steel’s customers in the oil and natural- gas drilling helped offset lower prices for hot-rolled steel coil, a benchmark product used in cars, trucks and appliances.

Read more: http://www.mcall.com/business/mc-us-steel-earnings-20120731,0,264490.story