Employment Numbers Crunch; Nothing Sour About Lululemon; Radio Shack Over and Out?

It was good while it lasted…

Image courtesy of cooldesign/FreeDigitalPhotos.net

Image courtesy of cooldesign/FreeDigitalPhotos.net

The number of people picking up unemployment checks took an unwelcome climb to over 300,000 claims – 315,000 to be a bit more accurate. That number was about 11,000 higher than the previous week and it’s a bit of a bummer since numbers that high haven’t been seen since June. But the fact that unemployment filings were up for the week ending September 6, which included the holiday weekend suggests…well not much. Labor Day, ironically, tends to play tricks on those pesky unemployment numbers. Besides, those numbers are still well below pre-recession levels and on average down over 7% from where they were last year at this time. Now if they could just do something to plump up those wages faster than inflation then we’d be set.

 Who would’ve thunk it?

Image courtesy of lamnee/FreeDigitalPhotos.net

Image courtesy of lamnee/FreeDigitalPhotos.net

Lululemon scored nicely this quarter, especially considering all the corporate and see-through-yoga-pants drama it experienced in the last year. And yes, the earnings were better than expected sending shares of the stock up 15%. The company, famous for its hip athletic apparel pulled in revenues of over $390 million earning $0.33 a share compared to the same time last year where it earned $344 million. Also, the chain has big plans to outfit men in yoga pants. With a stand alone men’s store already gracing its home country of Canada, New York City is about to debut a Lululemon men’s store to call its very own. If you were in the market for see-through yoga pants, though, look elsewhere. The company ironed out that kink ages ago.

No frequency radio…

Image courtesy of sippakorn/FreeDigitalPhotos.net

Image courtesy of sippakorn/FreeDigitalPhotos.net

Looks like bankruptcy is on the horizon for embattled electronics retailer, Radio Shack. In fact, the company said that by the end of September their funds could run dry. It’s holding out hope that somewhere out there the financing gods will smile upon them and lift them up from that fiscal well of despair. Until then, Radio Shack is hoping that the services they offer in store will help them stay relevant in a marketplace that has seen brutal competition from the internet. It is also in the process of trying to close hundreds of stores out of the thousands it has, and cut costs in other areas. But it remains to be seen if these measures will be enough or if Radio Shack is a sinking ship. The company reported second quarter losses of over $137 million. Last year at this time it’s losses were just over $52 million.

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