The maker of the BlackBerry said Friday that it wants U.S. and Canadian regulators to investigate a “false and misleading” report by a financial analyst that says the company's new smartphone is being returned in unusually high numbers.
Thorsten Heins, BlackBewrry's CEO, said returns of the new BlackBerry Z10 are in line with industry norms.
After Thursday's report from research and investment firm Detwiler Fenton, Heins said, “The data we have collected ... demonstrates that customers are satisfied with their devices.”
Anne Buckley, general counsel and chief compliance officer with Detwiler Fenton, said the firm is confident in its research methodology.
Retail sales drop is most in 9 months
U.S. retail sales fell in March from February by the most in nine months, indicating higher taxes and weak hiring have made consumers more cautious about spending. The Commerce Department said Friday that retail sales declined a seasonally adjusted 0.4 percent last month. That followed a 1 percent gain in February. Consumers cut back across a wide range of categories. Sales at auto dealers dropped 0.6 percent. Gas station sales dropped 2.2 percent, partly reflecting lower prices. Excluding autos, gas and building materials, core sales dropped 0.2 percent in March. Department stores, grocery stores, electronics retailers and sporting goods stores all reported lower sales.
Businesses barely boost stockpiles
U.S. companies restocked their shelves at a much slower pace in February than January, a sign they expected consumer and business spending to weaken.
The Commerce Department said Friday that business stockpiles increased only 0.1 percent in February. That's the smallest gain since June and down from a 0.9 percent increase in January, which was revised slightly lower.
Gas fuels drop in wholesale prices
A measure of wholesale prices fell in March by the largest amount in 10 months, reflecting a big drop in gasoline prices. The producer price index fell 0.6 percent last month compared with February, the Labor Department said Friday. In February, wholesale prices had jumped 0.7 percent.The March decline reflected a 6.8 percent plunge in gas prices. Core inflation, which excludes volatile food and energy prices, rose 0.2 percent in March.