This is MarketWatch news break money goes from Wall Street to main street to your street from the news from of the MarketWatch radio network I'm John --
And nine and Kate's did you do some shopping last month many if you didn't help -- sales at major chains George Anderson the.
Editor in chief at retail wired dot com -- John shortly.
Opposite ends are doing really well those split their focus on the low end -- market. Consumers or both economically pressed if you -- are doing very well and knows that. They cater to the upper -- do very well.
And and we'll have the daily news nugget. That's right hamburger chain white castle is looking it noodles like that Kris -- kitchen and eat dinner right there one a napkin. At. -- All that after these headlines are -- Morgan in the MarketWatch radio network newsroom for Thursday September 2 twenty -- Pending home sales rose moderately in July beating expectations and providing a glimmer of hope for the battered housing market. The National Association of Realtors index increased more than 5% after falling two months in a row following the April 30 expiration of a federal tax credit. Year over year however the pending sales index is 90% below its July 209 level. The number of workers filing new claims for jobless benefits edging down last week. But a high level of applications still suggests the job market recovery remains sluggish initial unemployment claims fell by 6000. But that is because the prior week's number was revised upward by 5000 so -- net decline of 1000. Labor Department's four week moving average which is supposed spy without the data volatility fell by 2500. And analysts suggest today's productivity report offers more reason to anticipate new hiring. Hours worked in the second quarter were revised up to 83 and a half percent annualized gain the largest increase since the first quarter of 06. And that analysts say suggest businesses needed to rely more on current staffing to boost their output levels. And that reliance eventually should translate to bigger paychecks or -- hiring. I'm done Morgan for MarketWatch news break looking for a gripping -- tried picking up a catalog I'd Adrian Mitchell that story coming up.
The other day a guy came out to me and asked -- I had the time yes I said I have the time it's time to stop wasting time with all the Johnny come lately and -- statements are real money on car insurance. It's time -- got off your Duff and got a free rate quote from Geico had started a few extra credit in your pocket wanna put that up till some other time I didn't thanks so.
For a free rate globe -- it Geico dot com or call 180947. -- fifteen minutes could save you hundreds on car insurance.
Retailers is sending out fewer catalogs nowadays that they're getting more bang for their buck.
There leading the consumer into the web site can't combining social media.
than asking if catalogs dot com says even youth oriented retailers like CC escape ports are getting shoppers to read catalogs.
And I applaud its use social media YouTube shows. And they hosted a lot of things on their website but they all have the print catalog.
Well old line companies including Ceres which pioneered the catalog are doing more to get catalog customers to explore online.
Because -- were -- catalog dot com they -- you what your pets available. Requested catalog catalog dot com go directly into our web site -- go to your website able to actually order all lying. And they get sidetracked in the might say -- you've read this year bought.
And one store Barneys -- up even has a 3-D catalog. For MarketWatch news break I'm Adrian Mitchell. Major retailers are out with their latest sales figures for August and what is this. Some relatively good news whether you're talking about Macy's reporting a 4% increase or Family Dollar reporting some robust gains in sales. Teen retailers like Abercrombie & Fitch also doing well up some 6% for sales. And as Saks also Chiming in with a slight increase in sales overall. What's going on here let's bring in George Anderson he's the editor in chief at retail wire dot com. So Georgia in a nutshell give us a 32 synopsis here what do you make of this news.
Quote positive. My I think. You know good news is is is good news. I think you know a number of factors here somebody's that is obviously a very low comps that they're going up against last year so. Having a better numbers this year is. Is and it is is an improvement but it the other is a agreement salt. Plus then there -- you know there are other factors as well I mean I think we're starting to see. Despite. I consumers. Not being. Tremendously optimistic there is I think a general sense that. You don't think you're at least not getting worse. And it's back to school also people who spending money there are a number of states the sales tax holiday is. And the web it was right so I think you have throwing the -- to the hospital plus. I'm so different advocates coming out party a number of retailers send diplomats -- to better numbers.
George your phone is breaking up for some reason unfortunately. Another -- yet let me let me just throw one more question he's here for a second -- when you look at Family Dollar doing well. And at the same time Nordstrom has beaten. How do you balance those two.
Well I think you know I think. You know what we've what what we're finding is is that. Opposite ends are doing really well those split their focus on the lower end of the market. Consumers or don't. Economically pressed if you -- doing very well and those that they cater to the upper hand -- do very well it's it's the retailers further. Stuck in the middle there are having the major issues. You know and so. As he hasn't been said in mister hightower in Texas the only thing you're -- in the middle of the road or at all ago.
Saks Nordstrom Macy's. All all up. Our department -- back.
I -- too soon to say that I don't think gas. Nordstrom never left. Macy's would delay in my Mason's program is is taking some some steps. And and I think from the exclusive lines there are hoping that. Is you know it in the area. In a different area altogether and higher at -- and you know I think we're seeing. The most affluent. Members of society spending more money so should be that that should bode well for them by going forward.
He's George Anderson the editor in chief at retail wired dot com and George judging from your phone I think you're in an undisclosed location right now and we should I children are -- those that it could that's it from a bunker tracking the latest retail sales numbers is it is. Thanks a lot George okay basically notebook Mets okay take care about.
And now the daily news -- usually can use the water cooler. And and has been looking far and wide for your of the daily news nugget and what did you find today. White castle -- hamburger chain is branching out not necessarily building new stores that -- adding some concepts with in the stores. These are all in -- testing phase right now. For example one of the contest is called blaze -- barbecue and you can offer. Several different kinds immediately brisk and then pulled chick and pulled pork stuff like that of course. With the traditional barbecue sides McCormick -- and baked beans so that's one thing they're trying out. And they have won a basically a -- concept called deckers. And they'll -- all different kinds of sandwiches that are pressed including chicken cordon -- peanut butter and jelly Turkey pesto concepts like that. And then the F third one white castles looking at is noodles and basically be. An americanized. Asian concept. Not really many details on that according to nation's restaurant news but but noodles -- will be.
This is a huge. Huge step for white castle for those who aren't familiar white castle being. Known primarily for its little square burgers with a little chopped up onion season.
And now they're doing this restaurants. Have been trying to differentiate themselves -- during a recession.
And this is just another way to do -- I can't -- if you wanna go beyond burgers and offered -- watch out Burger King watch out Wendy's watch out McDonald's launch out sonic watch out Jack in the Box. Here he got to -- well here you have here here comes white castle. The white Knight of hamburgers. And that's it then I don't overcome that he's going to cancel the white Knight of hamburgers. That's the daily news night -- tanks and thank you and I'm John Ward dock that's MarketWatch news break we're having here.
