New orders for long-lasting items like toasters and aircraft in January rose by the most in 10 months. Orders for durable goods jumped 4.9%. This may be an indication that the worst of the manufacturing downturn is over. Manufacturing output rose solidly in January and factory payrolls that month increased by the most since August 2013. The manufacturing sector accounts for 12% of the U.S. economy. (Reuters)
Kohl's is closing 18 under-performing stores with a list of affected locations expected in March. The retailer operates 1,160 stores in the U.S., including the Bend store. Employees at affected stores will be offered a position at another Kohl's location or a severance package. (AP)
J.C. Penney reported a better-than-expected results, helped by strong sales at it its Home, Sephora, Footwear and Handbags divisions. Sales rose 2.5% to $4 billion. Same-store sales rose 4.1%. But that still adds up to a loss of $131 million compared with a loss of $35 million a year earlier. (Reuters)
Join us this weekend for Financial Focus Radio, the truth in wealth building, when we will prepare you for that next annuity salesman that visits you.