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Inflation at the wholesale level jumped in April by 0.5% the largest increase in three months, fueled by rising food and energy prices. Energy prices rose 0.8% in April, while food costs were up 0.9%. Wholesale inflation is up 2.5% over the past 12 months, the largest 12-month gain in five years. (Labor Department)

Nordstrom saw profits jump 37% to $63 million, or 37 cents per share at its department stores in the first quarter. But same store sales declined 0.8% in the quarter. Sales results at Nordstrom Rack were up 2.3%.  Nordstrom total revenue grew 3% to $3.35 billion. (AP)

It has not been pretty to watch, the slow death of a once great icon. J.C. Penney's net loss widened to $180 million, or 58 cents per share, in the first quarter, from $68 million, or 22 cents per share a year ago. This was due to weaker sales at brick-and-mortar locations.  Earlier this year Penney's announced it would close 138 stores representing 13% of all their stores but generated less than 5% of annual sales. Shares of Penney's have fallen over 33% over the past year. (AP)

Join us this weekend for the Financial Focus Radio Show when we will talk about the dangers in the stock and bond markets.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.





 

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