Back in June, there was a report on WalletPop that Sears (NASDAQ: SHLD) and Kmart spied on customers who participated in an online marketing study. The company paid participants in the study $10 if they would download and retain software for "My SHC Community."

The participants were told that the software would help them "participate in exciting, engaging, and on-going interactions" on their own terms. Sears noted that the software would only monitor the participants' online browsing. Not so, according to the Federal Trade Commission (FTC), which reported that the software captured secured sessions from participants -- including online banking. The FTC and Sears came to a settlement and the company was less than apologetic for its maneuver.

Not long ago, I found myself in Sears (NASDAQ: SHLD) buying a video game. While at the point of sale -- which was a nightmare, not because of anything related to the checkout process, but because a jerk cut in front of me and, after the completion of his transaction, proceeded to deluge the poor associate at the register with a bunch of random, techno nerd-talk that said associate clearly couldn't care any less about (but I digress) -- I noticed something pertaining to a Christmas Club card. Sounded interesting, but I didn't pay much attention to the selling material.

Well, last night I was checking out some articles at Brandweek.com, and lo and behold, I came across this one discussing the holiday card. You know how Christmas Clubs work at banks, correct? Same principle applies here. In a simple nutshell, you get the plastic, you store funds on it, and then you can access those funds later on in the season to acquire presents. It's basically like a gift card that you use for budgeting purposes. Not only is Sears involved in this, but so is Kmart. And there's a promotion going on that's mentioned in the article where you can earn a nominal amount of bonus money on it. I don't know the details; I would suggest checking with Sears/Kmart for further information.

Durable goods are products that should last more than 3 years. That usually includes things like appliances, furnishings, and heavy equipment. The Commerce Department tracks this data and the number of orders for these things popped up an extra 4.9% in July, which was a nice surprise.

Why do I care whether North Americans are buying a new fridge? This is actually a metric you should watch for insight into potential corporate profits. If durable goods (which tend to cost a lot) are being purchased at an increasing rate, it bodes well for the companies that produce and sell those products.

Today was starting out as another one of those irrational exuberance days with shares gaining, despite a Nouriel Roubini panning of the economy for a double-dip recession.

But when you factor in Meredith Whitney comments and Dick Bove calling for more bank closures, the sellers put a lid on the market. Today's last two hours were a total coin toss as to whether we'd close up or down today for the day.

Here were today's unofficial closing bell levels:

Dow 9,509.28 +3.32 (0.03%)
S&P 500 1,025.56 -0.57 (-0.06%)
Nasdaq 2,017.98 -2.92 (-0.14%)

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Here are some highlights from last week's earnings coverage from BloggingStocks:

• Aeropostale Inc. (NYSE: ARO) strong Q2 results beat expectations due to rising same-store sales.
• Agilent Technologies Inc. (NYSE: A) Q3 earnings topped low expectations and revenue declined.
• Analog Devices Inc. (NYSE: ADI) posted better-than-expected Q3 results but shares fell on weaker margins.
• Baidu Inc. (NASDAQ: BIDU) CEO said its new advertising efforts will boost sales over the long run.
• Barnes & Noble Inc. (NYSE: BKS) had a better-than-expected Q2 profit but same-store sales fell.
• BJ's Wholesale Club Inc. (NYSE: BJ) reported solid Q2 numbers and raised its full-year guidance.

Slumping sales did in Sears Holdings (NASDAQ: SHLD) in the second quarter, as the company posted a surprise loss of 17 cents per share (excluding items). The Street expected the company to report earnings of 38 cents per share. Why the staggering disparity?

One reason is that comparable-store sales dropped 8.6% (12.5% at Sears stores and 3.9% at Kmart). Another reason is what the company called "significant items," which include costs associated with store closings and severance (32 cents per share), domestic pension plan expenses (22 cents per share), mark-to-market losses on Sears Canada hedge transactions (8 cents per share), and a positive impact of a reversal of a $62-million reserve (29 cents per share). The store closings include charges that related to the decision to close 28 underperforming stores.

Last week we looked at expectations for some retail earnings. More shopping mall favorites are reporting second-quarter results this week, and analysts surveyed by Thomson Reuters are looking for significant earnings growth from some of them.

Aeropostale Inc. (NYSE: ARO), the teen-focused retailer spun off from Macy's (NYSE: M) in 1998, is expected to post a second-quarter profit that is 44.6% higher than a year ago, or $0.56 per share. Revenue for the quarter is expected to be 19.7% higher, or $451.3 million. For the full year, the forecast so far is for $2.98 per share (+25.8%) on $2.2 billion (+14.6%). Earnings of the New York-based company have matched estimates in recent quarters. The long-term EPS growth forecast is 13.9%, which is better than the retail industry average and rival Abercrombie & Fitch Co. (NYSE: ANF). Aeropostale's earnings multiple is 12x, and this debt-free company's cash flow from operations swung into positive territory in the first quarter. The First Call consensus recommendation is to buy ARO; The Motley Fool identified it as a Wall Street favorite. Shares are down a couple of bucks from the 52-week high of $38.74 back in July, but are still 123.0% higher year to date.

Sears Holdings Corporation's (NASDAQ: SHLD) storied and failed strategy in the last few years under the auspices of investor Eddie Lampert just keeps chugging along. Lampert thought he could turn Sears Holdings into an investment company that happened to have a retail operation attached. Didn't happen.

But, that does not mean Sears is giving up the ghost. The retailer everyone loves to dog as stodgy and out of touch is getting back into one business where it was decades ago: toys. That's right -- and just in time for the 2009 holiday season. Question: will anyone go out of their way to shop at Sears for toys? Is there a compelling reason with so many other quality choices?

I guess Kmart -- part of Sears Holdings (NASDAQ: SHLD) -- has exhausted every other marketing idea it had for luring us back to the shopping aisles. How else to account for launching what must the earliest Christmas shopping campaign in history? The website for the chain now features a snowy village decked out in holiday cheer.

The banner reads "Take A Stroll Down Christmas Lane," and suggests that you can 'beat the Christmas rush" (ha!) by buying your stocking stuffers, gifts, and decorations now. Personally, I can't even predict who I'll still like well enough to give a gift to in six months. Stuff happens.

Best Buy (NYSE: BBY), the electronics mecca that competes with retailers such as Wal-Mart (NYSE: WMT), Target (NYSE: TGT), Sears (NASDAQ: SHLD), and GameStop (NYSE: GME), will be issuing earnings for the first fiscal quarter on Tuesday, June 16. According to this source, Best Buy will see a decline in net income. Analysts believe that the retailer will do $0.34 per share, which represents a drop of about 20%.

But, according to that same source, Best Buy has beaten the analysts at their game in the last two quarters. If you ask me, I think the company has a good chance of beating the forecast yet again. With all the euphoria in the equities market as of late, and with all the talk about the recession possibly coming to an end late this year, I feel that consumers must have been in a better mood in the most recent quarter. And one would assume a big name like Best Buy would get its share of the traffic.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Aeropostale Inc. (NYSE: ARO) beat profit expectations as revenue and same-store sales both increased.
• Aruba Networks Inc. (NASDAQ: ARUN) received an analyst's upgrade following its Q3 report.
• Buckle Inc. (NYSE: BKE) reported better-than-expected Q1 expectations as revenue surged.
• Campbell Soup Co. (NYSE: CPB) higher Q2 earnings beat expectations and sent shares upward.
• Deere & Co. (NYSE: DE) reported better-than-expected Q3 earnings, sending shares higher.

Wal-Mart (NYSE: WMT), a retailer that competes with companies such as Target (NYSE: TGT), Sears (NASDAQ: SHLD), and Costco (NASDAQ: COST), issued what I thought was a decent Q1 report. Sales may have been affected by currency effects, but overall, the giant chain seems to be holding up reasonably well.

Revenues dipped 0.6%. The company earned $0.77 per diluted share. No, the bottom line didn't do great in terms of earnings growth. Last year at this time, Wal-Mart made $0.76 per diluted share. That extra penny does not connotate excitement, I can tell you that. But shareholders can comfort themselves by the fact that Wal-Mart came in at the high end of its own guidance. Wall Street analysts pretty much agreed that the business would make about that much.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Campbell Soup Co. (NYSE: CPB) reported solid Q2 numbers despite competition from store brands.
• DreamWorks Animation SKG Inc. (NYSE: DWA) missed Q4 expectations, sending shares lower.
• First Solar Inc. (NASDAQ: FSLR) said Q4 profit more than doubled due to strong demand.
• Garmin Ltd. (NASDAQ: GRMN) posted a lower-than-expected profit on soft sales and lower margins.
• Heidrick & Struggles International Inc. (NASDAQ: HSII) earnings and revenue declined in Q4.
• Home Depot Inc. (NYSE: HD) earnings beat low expectations even as revenue continued to decline.

Sears (NASDAQ: SHLD) and Macy's (NYSE: M) could get a little shot in the arm. The largest part of the stimulus package just approved by Congress puts money into a lot of consumer's pockets.

According to Bloomberg, "The costliest item in the economic stimulus plan passed by Congress is a tax credit of up to $400 for individuals earning less than $75,000 year." The benefits of that money may not be long-term but they could be big enough to give troubled retailers some breathing room.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Acuity Brands Inc. (NYSE: AYI) reported lower Q1 earnings that still beat analysts' expectations.
• Bed Bath & Beyond Inc. (NASDAQ: BBBY) reported unimpressive Q3 results but shares rose anyway.
• Chevron Corp. (NYSE: CVX) warned of lower Q4 earnings due to lower oil prices and narrow margins.
• Constellation Brands Inc. (NYSE: STZ) Q3 earnings tumbled on on restructuring costs and weaker sales.
• Family Dollar Stores Inc. (NYSE: FDO) topped Q1 earnings expectations as consumers seek bargains.
• Intel Corp. (NASDAQ: INTC) lowered its Q4 revenue guidance once more due to lower demand.
• LDK Solar Co. (NYSE: LDK) cut its Q4 revenue outlook as clients asked for delayed shipments.
• Manitowoc Co. (NYSE: MTW) said profit will likely come in at the low end of its previous guidance range.
• Monsanto Co. (NYSE: MON) reported strong Q1 numbers and raised its full-year guidance.
• Neogen Corp. (NASDAQ: NEOG) posted its 63rd-consecutive profitable quarter, helped by an acquisition.
• Rocky Mountain Chocolate Factory (NASDAQ: RMCF) posted dismal Q3 numbers on economic downturn.
• Sears Holdings Corp. (NASDAQ: SHLD) higher-than-expected December sales prompted raised guidance.
• Supervalu Inc. (NYSE: SVU) reported a Q3 loss because of hefty one-time charges, but topped estimates.
• Walmart Stores Inc. (NYSE: WMT) cut its Q4 forecast after lower-than-expected December sales.
• Williams-Sonoma Inc. (NYSE: WSM) forecast lower-than-expected Q4 earnings on weak December sales.

For more earnings highlights, see Time Warner, Satyam, Google, KB Home, Mosaic and others

Upcoming earnings releases include Alcoa Inc. (NYSE: AA), Infosys (NASDAQ: INFY), Linear Technologies (NASDAQ: LLTC) , Xilinx (NASDAQ: XLNX), Genentech (NYSE: DNA), Intel (NASDAQ: INTC), Marshall & Ilsley (NYSE: MI), Sealy (NYSE: ZZ), Johnson Controls (NYSE: JCI).

Visit AOL Money & Finance for more earnings coverage.