By Edward Krudy

For months now, consumers have been hunkering down in an economic storm, buying only what they need to survive, like groceries, diapers, medicine — and shoes. The New York Times reports.

GE Capital Retail Corporate Finance, a finance arm of General Electric Co., said Friday it is renewing for four years its private-label credit card program with retailer J.C. Penney Co.

Summary of sales at stores open at least a year in October for department-store chains, with percentage increase or decrease over the same month last year.

J.C. Penney Co. Inc. on Thursday said sales at stores open at least a year fell 4.5 percent in October, hurt in part by Halloween landing on Saturday.

Some of fashion's best-known names are playing musical chairs.

Retail sales declined in September by the largest amount this year as car sales plummeted following the end of the government's popular Cash for Clunkers program.

Stocks skidded Friday after a disappointing report on consumer prices and as consumers' mood took a turn for the worse. The Dow finished down about 50 points on the week, snapping a four-week winning streak.That snapped the markets four-week winning streak:

Futures pointed to a lower open on Wall Street Friday after a report showed consumer prices posted their biggest year-over-year decline since 1950.

Retailers reported disappointing sales in July, a sign that consumers are continuing to watch their spending carefully and hunting for the best bargains.

Shoppers remained tight-fisted in July, raising concern about the back-to-school and holiday shopping seasons as well as for the broader economic recovery.

After a century in the business, JC Penney finally made its move to Manhattan with the grand opening of a three story store in Herald Square today. While other big retailers like Macy's and Bloomingdales have been hit by the recession, Penney is relying on the struggling economy to generate its success.

Stocks flopped Friday, capping a dismal week, as bank stocks pulled back after recent gains.

Stocks opened flat Friday as investors were encouraged by a pair of better-than-expected manufacturing readings but dismal economic data out of Europe and weak U.S. retail reports capped gains.

Futures pared losses Friday after a pair of better-than-expected manufacturing readings.