TJX has better-than-expected quarter, raises forecast

TJX Cos. announced that its same-store sales rose four percent in the third quarter, above the 2.3 percent consensus gain expected by analysts. The retailer raised its annual forecast on the strength of its third-quarter performance and expectations for the holidays. “The fourth quarter is off to a solid start and we have many initiatives…

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Americans to go further into debt to buy Christmas gifts

Roughly 70 percent of adults in the U.S. are feeling stressed about debt heading into the holidays. That may be because these same adults would need nearly $59,000 to get themselves out of debt. That said, Americans plan to spend an average of $1,679 on gifts this year, putting much of that on credit cards.

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Mobile payment tech leads to overspending

The combination of smartphones and mobile wallets makes purchasing really easy — perhaps too easy. “Much of the innovation that’s going on now, whether it’s contactless credit cards or apps or personal loans, is to separate folks from their money more easily and more quickly,” said Matt Schulz, chief industry analyst at CompareCards.com.

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Warby Parker gets into contact lenses

Warby Parker, which has grown its business providing prescription eyeglasses at substantially lower prices than those sold through the major eyewear chains, has launched Scout, its own line of contact lenses. The retailer estimates that 40 percent of its current customers wear both eyeglasses and contact lenses.

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Boomers go big on Snapchat

Snapchat is seeing growth in its user base and much of that growth is coming from Baby Boomers. The number of users between the ages of 55 and 64 is forecast to grow 13 percent this year, according to eMarketer, making the demographic the fastest-growing segment on the social site.

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