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    Compilation of Target, Walmart, Lowe's and Home Depot stores.Reuters How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe's — reported quarterly financial results this week, and they each offered a different perspective on where and how people are spending their money. Walmart said some of its more price-sensitive customers are beginning to trade down to private-label brands, while Home Depot emphasized the resiliency among its customer base, a sizable percentage of which are professional home builders and contractors. The reports came after Amazon in late April flashed warning signs for the retail industry when it booked the slowest revenue growth for any quarter since the dot-com bust in 2001 and offered up a bleak forecast. Still, expectations on Wall Street were higher this week for both Walmart and Target. Analysts and investors didn't anticipate that the two big-box retailers would take such a massive hit to their profits in the latest period as supply chain costs weighed on sales and unwanted inventory,...
    New York (CNN Business)Worries about an economic slowdown are running wild on Wall Street. Despite concerns about inflation, higher interest rates from the Federal Reserve, supply chain issues and geopolitical turmoil due to Russia's invasion of Ukraine and Covid outbreaks in China, American consumers continue to do what they do best: shop until they drop.Retail sales rose at a healthy 0.5% clip in March when compared to February and were up 6.9% from March 2021. Economists are expecting that the strong trend for retail lasted into April as well. The government will report retail sales figures for April on Tuesday. Forecasts are calling for a 0.7% jump from March levels.In other words, experts don't think negative headlines and recent market turmoil slowed down consumer spending."We are yet to see a looming recession show up in hard economic data," said Mark Holman, partner and portfolio manager with TwentyFour Asset Management in a blog post, adding that "retail sales have held firm." The takeaway for investors: Follow what consumers do, not what they say. Weaker consumer sentiment may sound scary, but it's...
    If you're hoping to bag a PS5 for Christmas, there'll be plenty of opportunities over the coming weeks. Retailers have been getting waves of PS5 restocks and more are expected in the UK following Sony airfreighting its consoles to expedite the process. 1The PlayStation 5 is the latest and greatest console from Japanese tech titan Sony PS5 bundles in stock at Walmart – buy here We recommend signing up for retailers' email alerts to be amongst the first to know when the PS5 is in stock. Following stock tracking accounts on social media and turning on notifications is also a great way to be among the first to be notified. Of course, you can also bookmark this page which we'll keep updated with rumoured and confirmed PS5 stock drops. Alternatively, you can try your luck with our Xbox Series X stock tracker. Where to buy PS5 in the UK There have been quite a few PS5 restocks at UK retailers over the past couple of weeks. It's not just retailers like GAME and Argos you should...
    EVER since Microsoft launched its consoles last year, it's been a nightmare to get hold of. But there have been waves of Xbox Series X and Xbox Series S restocks at retailers like GAME, Walmart, and Amazon. 1The Xbox Series X and Xbox Series S launched worldwide last year Xbox Series X in stock at GAME - buy here The console restocks are limited and sell out fast, so I recommend setting alerts on stock tracking accounts. You can also bookmark this page so you have a list of links to retailers at hand for your frenzied shopping convenience. You can also try your luck with the PlayStation 5 with our PS5 stock tracker. The Xbox Series S isn't plagued by the same level of scarcity as the Xbox Series X and is a solid option for younger gamers. Where to buy Xbox Series X|S in the UK There are a number of retailers we can always rely on to keep getting Xbox Series X|S inventory. GAME gives customers a little bit of a heads up...
    PLAYSTATION 5 restocks have been going strong over the past few weeks and more are on the way today and tomorrow. Both US and UK retailers have been getting PS5 restocks as we head towards Black Friday, so you've got plenty of opportunities to bag one for Christmas. 1The PlayStation 5 is the latest and greatest console from Japanese tech titan SonyCredit: sony/the sun PS5 bundles in stock at Walmart – buy here PS5 standard edition at GAME – buy here We recommend signing up at retailers for email notifications and following stock tracking accounts on social media for the latest updates. But you can also bookmark this page which we'll update with rumoured and confirmed stock drops. Where to buy PS5 in the UK We've seen an influx of PS5 restocks at the usual suspects of UK retailers, including ShopTo, EE, BT, and more recently, Argos. GAME has confirmed that it's selling the PS5 standard disc edition today. We don't know what time, but PS5StockUK predicts a morning drop. "Last time it was at 9:40am and...
    Major retailers Target and Home Depot have elected to charter their own ships to deliver billions of dollars worth of goods in time for the holiday season, amid an unprecedented supply-chain crisis in the US.  'As co-managers of the ship, we can avoid delays from additional stops and steer clear of particularly backed-up ports,' Target - the second largest U.S. importer behind Walmart - said in a statement released in September.  Similarly, Home Depot Inc.'s Chief Operating Officer Ted Decker said the company came up with a 'creative solution' to its problems with getting goods back in August. 'Our supply chain teams recently leveraged our scale and flexibility to arrange for several container vessels for our exclusive use,' he said during the company's second-quarter earnings report.  The decision comes as bottlenecks along the country's East and West coasts continue to hinder the transportation of products from overseas to countless stores across the nation, causing a backlog of billions of dollars of toys, clothing, electronics, vehicles, and furniture. Home Depot Inc.'s Chief Operating Officer Ted Decker said the company came up with a...
    After years of taking market share from brick-and-mortar retailers, Amazon is reportedly planning to open several physical store locations. The first of the stores could be opened in Ohio or California, sources close to Amazon said, according to a report . The stores will dwarf Amazon's current physical location in size and scope and be similar to Bloomingdale’s, Nordstrom, and other department store chains. 20% OF PEOPLE SAY THEY LOST FRIENDS OVER COVID-19 DISAGREEMENTS: POLL “People are absolutely returning and shopping in department stores,” John Idol, the chief executive of the Michael Kors parent Capri Holdings Ltd., reportedly said on a conference call in July. Amazon has long rivaled the brick-and-mortar retail industry, which has been on the decline due to online shopping alternatives. This decline was greatly worsened during the coronavirus pandemic and subsequent economic lockdowns. While J.C. Penney, Neiman Marcus Group Inc., Lord & Taylor, and Stage Stores Inc. filed for bankruptcy in 2020, other major retailers are reportedly expected to turn in strong sales, such as Macy's and Kohl's, according to...
    More On: under armour Under Armour pays SEC $9 million for allegedly misleading investors Tom Brady covers up Nike logo during Super Bowl trophy presentation NBA’s Steph Curry to create new brand with Under Armour Under Armour’s stock surges on surprisingly small quarterly loss Athletic wear maker Under Armour said on Wednesday it would raise the minimum wage for hourly workers to $15 in the United States and C$15.25 ($12.59) in Canada, starting June 6. It is the latest in a string of companies, including Walmart and McDonald’s, to hike hourly wages for employees as retailers and restaurants try to retain and hire more workers to keep up with a surge in sales amid a broader economic recovery. The move comes at a time when there is a fierce debate over worker rights and higher minimum federal wage under the Biden administration. “We are committed to doing the right thing, and at the center of our commitment is ensuring our teammates feel valued and appreciated,” Patrik Frisk, Under Armour’s chief executive officer said in a statement. The company said...
    By Lisa Baertlein, Jonathan Saul and Anna Ringstrom LOS ANGELES / LONDON, Mar 26 (.) – The container ship that is stranded blocking the Suez Canal threatens to make it even more difficult for European and American retailers to keep products in stock, something that has been hit during the coronavirus pandemic. The Suez Canal saga, which began Tuesday and could last for weeks, is just the latest crisis to hit the global supply chain, which was turned upside down when coronavirus lockdowns prompted consumers to renovate appliances, sofas and televisions. , and in some cases their patios. IKEA, the world’s largest furniture retailer, and London-based electronics retailer Dixons Carphone are among the retailers that have products on the beached ship, both companies told .. Blokker, an Amsterdam-based company that sells household items, also confirmed that it has items, but did not say which ones. The salvage company overseeing the rescue effort has warned that it could take weeks to dislodge the massive Ever Given, which got stuck in the canal during a sandstorm. Lloyd’s List estimates that approximately $...
    Fast-food fanatics know the right dip can make all the difference, and Chick-fil-A is bringing the heat by expanding sales of its bottled, signature sauces at stores across the country. On Thursday, a spokesperson for the chicken chain confirmed to Fox News that the 16-ounce bottles of Chick-fil-A Sauce and Polynesian Sauce have recently been stocked in more retailers across the nation. Starting this month, the savory sauces are available for purchase at select retailers – including Walmart, Publix, HEB, Winn-Dixie, Food Lion and Harris Teeter – in Arkansas, Kentucky, Missouri, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia. Starting this month, the savory sauces are available for purchase at select Walmart, Publix, HEB, Winn-Dixie, Food Lion and Harris Teeter locations across the country. (Chick-fil-A) CHICK-FIL-A CUSTOMER DOOR-CHECKS SUSPECT FLEEING POLICE IN DRIVE-THRU, SURVEILLANCE VIDEO SHOWS The bottled sauces made their debut in Alabama, Florida, Georgia, Louisiana and Mississippi last year, marking the restaurant’s first retail endeavor. Whether fans use the sauces to drizzle, dunk or marinate, it’s all for a good cause. The restaurant is...
    Fact check: Fake quote about right to bear arms attributed to George Washington Editorial: Follow the science: A mantra for fighting COVID in New York state Up to 10,000 retail stores in the US are predicted to close this year, according to new research © Provided by Business Insider Paul Hennessy/SOPA Images/LightRocket via Getty Images A Coresight Research report predicts a 14% increase in store closures from 2020 to 2021. The pandemic has taken a huge toll on brick-and-mortar retailers overall. Visit Business Insider's homepage for more stories. Coresight Research released a report on Thursday estimating that the US may see as many as 10,000 retail store closures in 2021. Load Error The research firm's report detailed a 2020 year in review for US and UK stores and looked ahead to what's facing the retail industry this year. Looking back at 2020, Coresight's report found that US apparel stores suffered the most, with 3,151 closures. In the UK, 2,450 major retail stores closed and 477 opened last year.  Overall, Coresight found that major retailers shuttered 8,741...
    Colleges say SAT, ACT score is optional for application during COVID-19, but families don’t believe them Very chaotic. South Florida seniors scour local hospitals for COVID-19 vaccines Incredible Blanket Puts Humans In A Deep Sleep, Melting Stress & Anxiety Away Ad Microsoft This is a slam dunk if you want a one-card wallet in 2021 Ad Microsoft New Policy For Cars Used Less Than 49 Miles/Day Ad Microsoft Full screen 1/19 SLIDES © 2017 J.C. Penney Corporation, In Brick-and-mortar retailers and several major restaurant chains had already been on the decline before the coronavirus hit, but the pandemic turned out to be the nail in the coffin for several iconic businesses that filed for bankruptcy or closed outright this year. With nonessential businesses closed for weeks or months in some places, already struggling retailers...
    SILVER SPRING, Md. (AP) — A closely-watched gauge for U.S. consumer confidence tumbled to a reading of 88.6 in December as rising coronavirus cases dragged American optimism to its lowest level since summer. Rising pessimism is spreading during the crucial holiday season, which could make or break a number of retailers, restaurants, gyms and other places hammered by the pandemic. The December number released Tuesday by the Conference Board represents a big decline from November’s reading, which was revised downward to 92.9. The drop was far worse than analysts had expected and is an ominous sign for retailers with Christmas around the corner. Consumer confidence is closely watched watched by economists and investors as it can signal how willing or able U.S. households are to spend. Consumer spending accounts for 70% of economic activity in the U.S. The Commerce Department reported last week that U.S. retail sales fell a seasonally adjusted 1.1% in November. It was the biggest drop in seven months, and a steeper decline than Wall Street analysts had expected.
    US retail sales slumped in November — the second consecutive monthly decline — as the growing number of coronavirus cases spooked shoppers across the country. Retail sales dropped by 1.1 percent in November after slipping 0.1 percent in October, the Commerce Department said on Wednesday. The October figure was a revision from previous estimates, which had showed sales increasing. Despite the recent slowdown in spending, November’s retail sales were still up 4.1 percent from the year-earlier month. That’s also despite soaring unemployment, hiring freezes and slowing economic growth. The data includes car dealerships, restaurants and online spending with car sales and restaurants accounting for a bigger drag than usual as more shoppers stay put in their homes. “As COVID-19 cases have surged in the last few weeks, many retailers have felt the brunt of tighter restrictions, which have ultimately impacted sales,” said Marwan Forzley, chief executive of payment technology company, Veem. Previous reports of sales increases during the holidays have mostly focused on online spending, which has surged as more consumers shop online instead of in person at...
    More On: consumer spending Teen spending drops to record low amid COVID-19 crisis Consumer spending climbs less than 2 percent as COVID recovery slows Rich Americans slashed spending amid coronavirus, hurting poor workers Consumer spending plunges as Americans hoard cash amid coronavirus US retail sales slumped in November — the second consecutive monthly decline — as the growing number of coronavirus cases spooked shoppers across the country. Retail sales dropped by 1.1 percent in November after slipping 0.1 percent in October, the Commerce Department said on Wednesday. The October figure was a revision from previous estimates, which had showed sales increasing. Despite the recent slowdown in spending, November’s retail sales were still up 4.1 percent from the year-earlier month. That’s also despite soaring unemployment, hiring freezes and slowing economic growth. The data includes car dealerships, restaurants and online spending with car sales and restaurants accounting for a bigger drag than usual as more shoppers stay put in their homes. “As COVID-19 cases have surged in the last few weeks, many retailers have felt the brunt of tighter restrictions,...
    Rising death toll tempers US enthusiasm over coming COVID vaccine Award-winning SKorean director Kim Ki-duk dies in Latvia 39 Gifts That Are Selling Like Hotcakes During The Holidays Ad Microsoft Full screen 1/8 SLIDES © StefaNikolic / Getty Images If you’re in need of some extra holiday cheer this year, you’re not alone. Approximately 20 million Christmas trees are sold annually, according to the Associated Press, and that number is expected to rise this year. Read More: How To Get Unique Holiday Gifts Without Leaving Your House Due to the pandemic, many people are trading in their artificial trees for a fresh-cut version, as a way to make fun family memories or just because they have plenty of time to water them. When you’re all-in on buying a real Christmas tree, you don’t have to head out to a tree farm and chop one down yourself. Instead, you can pick one up in town, as it’s more convenient. While this...
    Loading the player... Black Friday online sales hit a new record this year as pandemic-wary Americans filled virtual carts instead of real ones. Consumers spent an estimated $9 billion on U.S. retail websites on Black Friday, according to Adobe Analytics, which tracks online shopping. That was a 22% increase over the previous record of $7.4 billion set in 2019. Meanwhile, traffic to physical stores plummeted as retailers tried to prevent crowds by cutting their hours and limiting doorbuster deals. U.S. store visits dropped by 52% on Black Friday, according to Sensormatic Solutions, a retail tracker. Traffic was slower in the Northeast and West than in the Midwest and South, said Brian Field, Sensormatic’s senior director of global retail consulting. Shoppers pass an Indigo Friday 40% Off sign Saturday, Nov. 28, 2020, on Chicago’s famed Magnificent Mile shopping district. (AP Photo/Charles Rex Arbogast) Jewelry and footwear saw some of the biggest in-person sales declines, according to RetailNext, a shopping tracker. Apparel sales were down 50%, while sales of home goods fell by 39%. READ MORE: Black Friday crowds thin amid...
    By DEE-ANN DURBIN, AP Business Writer Black Friday online sales hit a new record this year as pandemic-wary Americans filled virtual carts instead of real ones. Consumers spent an estimated $9 billion on U.S. retail websites on Black Friday, according to Adobe Analytics, which tracks online shopping. That was a 22% increase over the previous record of $7.4 billion in 2019. The company expects Monday to be the largest online sales day in U.S. history, with estimated spending of between $10.8 billion and $12.7 billion. One reason for the big numbers is that people are shopping online for things such as groceries and alcohol that they bought in stores before the pandemic, Adobe said. As for more traditional gifts, Hot Wheels cars, Lego sets, Apple AirPods, Samsung televisions and video games are among the biggest sellers. Big retailers such as Walmart and Target benefited from the surge, but small retailers did as well, Adobe said. Sales at big stores surged by 403% on Thanksgiving and Black Friday compared to the daily average in October, but sales at smaller retailers also...
    Clemsons Swinney still frustrated with FSU postponement The Beanie Is My Winter Essential, and Its Going to Become Yours, Too Seniors On Medicare Are Getting a Big Pay Day in 2020 Ad Microsoft Expert: “This credit card is so good I signed up personally” Ad Microsoft Full screen 1/10 SLIDES © Geber86 / Getty Images With the holiday shopping season already well underway, it’s a particularly critical time for the country’s small businesses. Many have closed permanently during the pandemic and others are still struggling to survive in the face of increased competition from the convenience and contact-free lure of large online retailers like Amazon. According to Deloitte’s annual holiday retail survey, 43% of shoppers prefer shopping at local retailers rather than national retail chains. At the same time, nearly 51% feel anxious about in-store shopping, with an increased demand for delivery and curbside pickup options. So small businesses in communities across the country...
    The recovery in US retail sales slowed last month as consumers confronted a surge in coronavirus infections and a lack of government aid to see them through the pandemic. Retailers’ total sales rose just 0.3 percent to about $553 billion in October following September’s 1.6 percent growth, the US Census Bureau said Thursday. That fell short of economists’ expectations for a 0.5 percent jump despite marking the sixth straight monthly increase since COVID-19 gutted retailers in March and April. The recent resurgence of the virus could pressure the industry yet again as some cities and states bring back lockdowns that kept shoppers out of stores this spring. Expanded unemployment benefits and other stimulus measures that had helped boost spending have also run dry with no new aid package insight. “Whether this represents the start of a negative turn in consumption — either due to rising COVID cases or the potentially millions of unemployed workers reaching the end of their CARES Act savings — remains to be seen,” said Chris Long, chief economist and vice president of research at the...
    The recovery in US retail sales slowed last month as consumers confronted a surge in coronavirus infections and a lack of government aid to see them through the pandemic. Retailers’ total sales rose just 0.3 percent to about $553 billion in October following September’s 1.6 percent growth, the US Census Bureau said Thursday. That fell short of economists’ expectations for a 0.5 percent jump despite marking the sixth straight monthly increase since COVID-19 gutted retailers in March and April. The recent resurgence of the virus could pressure the industry yet again as some cities and states bring back lockdowns that kept shoppers out of stores this spring. Expanded unemployment benefits and other stimulus measures that had helped boost spending have also run dry with no new aid package insight. “Whether this represents the start of a negative turn in consumption — either due to rising COVID cases or the potentially millions of unemployed workers reaching the end of their CARES Act savings — remains to be seen,” said Chris Long, chief economist and vice president of research at the National...
    Electronics retailer Best Buy and on-demand delivery platform Instacart announced a partnership on Tuesday that will see Instacart power same-day delivery of Best Buy in every state in the US, covering nearly every Best Buy location throughout the country. The partnership is a big deal for Instacart, which has gradually expanded beyond its initial grocery delivery ambitions to include delivery of all manner of goods from many types of different retailers. Due to the COVID-19 pandemic, demand for delivery of everything from home supplies to groceries to hot meals has skyrocketed, giving Instacart and its rivals huge revenue boosts and the means to continue expanding. For Best Buy, it’s a way to tap into the ease of on-demand delivery while also leaning on companies with the resources and technical expertise to manage the complex logistical side of the operation in ways traditional package carriers cannot. Right now, if you order a product from Best Buy, it’ll be delivered from FedEx, UPS, or the USPS. Those services are reliable, but they also tend to be slower unless either the...
    New York (CNN)Some major companies that increased security measures in case there was post-Election Day violence are grappling with the prospect of staying boarded up far longer than planned as the presidential vote count drags on.Tiffany & Co., Saks Fifth Avenue, CVS, Target and Macy's are just some of the chains that boarded up store windows in cities including New York, Chicago, Los Angeles and Washington.But neither an election result nor mass protests have materialized. Sporadic demonstrations in swing states so far have focused on election offices, and retailers haven't seen the reprise they'd feared of looting and vandalism that erupted after the killing of George Floyd in late May."They're watching it hour-by-hour as we are," says Tom Buiocchi, the CEO of ServiceChannel, an online platform that connects retailers with local contractors.None of the companies ServiceChannel works with have processed orders to have contractors remove the plywood.Read More"If it was a clear-cut victory and things were done by Tuesday night, they'd probably have opened by Wednesday," Buiocchi said. "We're entering a murky period now."Many buildings remained boarded up along the...
    The first half of 2020 saw 29 retailers file for bankruptcy as the COVID-19 pandemic exacerbated the already bleak outlook for brick-and-mortar stores whose customers shifted to online shopping. From January to June, 18 retailers, including once-popular brand names like Neiman Marcus, J.C. Penney, Pier 11, and GNC, filed for chapter 11, according to the financial advisory firm BDO USA. In the six-week period beginning in July and stretching through mid-August, 11 more retailers filed for bankruptcy. Among the notable companies that went belly-up over the summer are Lord & Taylor and its subsidiary, Le Tote; Tailored Brands, which is the parent company of Men’s Wearhouse and Jos. A. Bank; and Ann Taylor’s corporate parent Ascena Retail Group. The first half of 2020 saw a record high 29 retailers file for bankruptcy as the COVID-19 pandemic exacerbated the already bleak outlook for brick-and-mortar stores whose customers shifted to online shopping Most of the bankruptcies (39 per cent) filed this year were by apparel and footwear companies like Brooks Brothers and Modell’s Sporting Goods, which shuttered all of its...
    American retailers have closed a record number of stores for good this year as the coronavirus pandemic upended the industry, a new report says. Chains including Starbucks, Macy’s and Office Depot have announced plans to shutter 10,226 stores so far in 2020 — a number that already outstrips last year’s record total of 9,500 closures, according to professional-services firm BDO. Nearly 6,000 of those stores belonged to 29 retailers that had filed for bankruptcy through mid-August, putting this year on pace to rival the 48 filings seen in 2010 on the heels of the Great Recession, the firm said in its twice-a-year report on retail bankruptcies. “Government-mandated store closures, social distancing measures, supply chain issues and upticks in e-commerce sales have only intensified existing pain points felt by brick-and-mortar retailers, accelerating the pace of bankruptcies going into the second half of the year,” the report reads. Most of this year’s closures have affected stores in malls, which have suffered “sustained” coronavirus-related disruptions and seen far less foot traffic than other locations, BDO says. see also Retailers anxious about...
    Toilet paper is back on store shelves. But you may not recognize some of the brands. Demand for toilet paper has been so high during the pandemic that in order to keep their shelves stocked, retailers are buying up foreign toilet paper brands, mostly from Mexico. Major chains, across the country, including CVS, Piggly Wiggly, Safeway, 7-Eleven and others, are carrying the international brands. In recent weeks, a CVS in New York has been selling three Mexican brands: Regio, Hoteles Elite and Daisy Soft. Mexico’s Petalo was on the shelves of a Piggly Wiggly in Sister Bay, Wisc. And a Safeway supermarket in Fremont, Calif., had those same brands, plus Vogue, whose label says in Spanish that it smells like chamomile. The stores said they needed to get creative during the pandemic and started working with new suppliers to get shoppers what they needed. But don’t worry about popular US brands like Charmin — they aren’t going to disappear. Supply chain experts expect the Mexican and other foreign-made rolls to be on store shelves only temporarily, until US manufacturers...
    Toilet paper is back on store shelves. But you may not recognize some of the brands. Demand for toilet paper has been so high during the pandemic that in order to keep their shelves stocked, retailers are buying up foreign toilet paper brands, mostly from Mexico. Major chains, across the country, including CVS, Piggly Wiggly, Safeway, 7-Eleven and others, are carrying the international brands. In recent weeks, a CVS in New York has been selling three Mexican brands: Regio, Hoteles Elite and Daisy Soft. Mexico’s Petalo was on the shelves of a Piggly Wiggly in Sister Bay, Wisc. And a Safeway supermarket in Fremont, Calif., had those same brands, plus Vogue, whose label says in Spanish that it smells like chamomile. The stores said they needed to get creative during the pandemic and started working with new suppliers to get shoppers what they needed. But don’t worry about popular US brands like Charmin — they aren’t going to disappear. Supply chain experts expect the Mexican and other foreign-made rolls to be on store shelves only temporarily, until US manufacturers catch...
    The list of U.S. retailers that have filed for bankruptcy during 2020's sharp economic contraction is long and varied. The companies range from those selling inexpensive and off-brand goods to century-old name brands that have catered to the rich and famous.   Lord & Taylor was one of many businesses hit hard by stay-at-home orders spawned by the coronavirus pandemic. Launched in 1824, the department store found in dozens of American shopping malls recently filed for chapter 11 bankruptcy protection. The company last year sold its 11-story flagship building on New York's Fifth Avenue, which it had owned for more than a century.   Industry experts say many were struggling before the emergence of the pandemic, which proved to be the final blow. FILE - Rain drops fall on a puddle in an empty parking lot outside a Lord & Taylor store, closed due to the coronavirus outbreak, in Salem, New Hampshire, April 3, 2020."It arguably was the last straw that broke the camel's back. Another way to look at this is the pandemic and the associated economic recession accelerated what was already occurring in the industry. We had several retail bankruptcies before...
    By CHRISTOPHER RUGABER and ANNE D'INNOCENZIO, AP Business Writers WASHINGTON (AP) — Americans increased their retail purchases by 1.2% in July, with solid gains in appliances and clothing, restoring sales to their level before the viral pandemic erupted in March. Sales at retail stores and restaurants have now risen for three straight months, after enormous plunges in March and April, when the pandemic suddenly shuttered businesses and paralyzed the economy. Still, much of that spending has been fueled by government relief spending that had put more money in people's pockets but has since expired. With Americans' overall income likely shrinking, economists expect a potential drop in spending and a weakening of economic growth. Roughly 28 million laid-off workers are no longer receiving a $600-a-week federal unemployment check that they had received in addition to their state benefit but that expired last month. In addition, a $1,200 stimulus check that was sent to many Americans in April and May likely won't be repeated. Negotiations in Congress on a new economic relief package have collapsed in rancor and show no sign of...
    WASHINGTON (AP) — Americans increased their retail purchases by 1.2% in July, with solid gains in appliances and clothing, restoring sales to their level before the viral pandemic erupted in March. Sales at retail stores and restaurants have now risen for three straight months, after enormous plunges in March and April, when the pandemic suddenly shuttered businesses and paralyzed the economy. Still, much of that spending has been fueled by government relief spending that had put more money in people’s pockets but has since expired. With Americans’ overall income likely shrinking, economists expect a potential drop in spending and a weakening of economic growth. Roughly 28 million laid-off workers are no longer receiving a $600-a-week federal unemployment check that they had received in addition to their state benefit but that expired last month. In addition, a $1,200 stimulus check that was sent to many Americans in April and May likely won’t be repeated. Negotiations in Congress on a new economic relief package have collapsed in rancor and show no sign of restarting anytime soon. Many retailers have said the...
    Student who took viral school photo says shes received threats Ruby Tuesday has shut down more than one-third of its restaurants this year as the chain buckles under pandemic pressures and an aging customer base The biggest US mall owner Simon says still looking to salvage other distressed retailers "We're acquiring inventory at or below cost," Simon Chief Executive David Simon said, explaining the company's acquisition strategy during a conference call with analysts. "There's profit in there."  "We continue to look for other opportunities," he said.  Simon said Monday it collected roughly 73% of its rents from retailers in July, with about 91% of its tenants back open for business today amidst the coronavirus pandemic.  © Provided by CNBC Simon Property Group CEO David Simon Simon Property Group Chief Executive David Simon said Monday that the company is still looking to salvage additional distressed retailers, having already made bids for bankrupted Lucky Brand, Brooks Brothers and J.C. Penney.  Load Error "We're acquiring inventory at or below cost," Simon said, explaining the company's acquisition strategy during a conference...
    New York (CNN Business)Retailers are expected to close stores in record numbers this year, but German discount grocery chain Aldi is still expanding in the United States.Aldi announced Tuesday that it will open 70 new stores this year. It also said it recently surpassed the 2,000-store marker. The privately held grocer is on track to become the third largest supermarket chain behind Kroger (KR) and Walmart (WMT) in terms of store count, with 2,500 stores by the end of 2022. Aldi did not announce where the 70 new stores would be, but it will enter Arizona, its 37th state, later this year, with four new stores in the Phoenix area. Aldi will also open a new regional headquarters and distribution center in Loxley, Alabama, to distribute to stores in Alabama, Florida and Louisiana.Aldi has a low-cost business model and boasts that its prices are up to 50% cheaper than traditional supermarkets. Stores, at around 12,000 square feet, are much smaller than a typical US supermarket of 40,000 square feet. More than 90% of the brands Aldi sells are its own...
    By DAVID SHARP, Associated Press FREEPORT, Maine (AP) — L.L. Bean is expanding from its original model of direct-to-customer catalog sales and in-stores sales with an agreement to sell products in Nordstrom, Staples and sporting goods chain SCHEELS. The company's first wholesale agreements in the U.S. represent a push to get L.L. Bean products in front of more consumers. The Maine-based retailer believes its products are underrepresented in the marketplace and that there's an opportunity to expand while other retailers contract, said Charlie Bruder, vice president for merchandising. The first phase started with L.L. Bean backpacks and water bottles that went on sale in more than 1,000 Staples stores two weeks ago. The business products retailer is a leader for back-to-school shopping. In the fall, L.L. Bean gear will be sold in a half-dozen SCHEELS stores in the Midwest and in 20 Nordstrom stores across the U.S. Nordstrom will offer classics like the famous Bean Boot, fleece and flannel, both in the stores, and online. It's a smart strategy for retailers like L.L. Bean to reach more consumers without the...
    (CNN) — CVS and Target will require customers to wear masks in their stores across the United States as the retail industry moves to enforce mask mandates to slow the spread of the coronavirus. “We’re joining others in taking the next step and requiring all customers to wear face coverings,” CVS tweeted Thursday. The policy goes into effect Monday. Target said in a statement it would start requiring masks or face coverings starting August 1 in all stores. “This builds on the more than 80% of our stores that already require guests to wear face coverings due to local and state regulations,” it said. Target said it would provide disposable masks at entrances to customers who don’t have one. The announcement came a day after Walmart, Kroger and Kohl’s said that masks would be mandatory in all their stores and the National Retail Federation, the main lobbying group for the industry, called on retailers to require masks for customers. Best Buy announced Tuesday that it will require customers to wear masks. These companies’ measures go beyond US federal mandates on...
    “We are becoming a member of other people in getting the upcoming phase and demanding all customers to wear deal with coverings,” CVS tweeted Thursday. The coverage goes into effect Monday. Concentrate on reported in a statement it would start off necessitating masks or experience coverings commencing August 1 in all outlets. “This builds on the extra than 80% of our retailers that now have to have friends to don face coverings because of to regional and condition polices,” it stated. Goal reported it would supply disposable masks at entrances to customers who do not have a single.The announcement arrived a day after Walmart (WMT), Kroger (KR) and Kohl’s (KSS) reported that masks would be mandatory in all their retailers and the Nationwide Retail Federation, the main lobbying team for the market, known as on merchants to require masks for consumers. Ideal Purchase (BBY) introduced Tuesday that it will have to have consumers to wear masks.These companies’ steps go past US federal mandates on Covid-19 protection. Whilst no federal mandate to have on a mask exists, the Centers for Sickness...
    (CNN)CVS and Target just became the latest major retailers to require customers to wear masks in their stores across the United States as the number of Covid-19 cases rises. "We're joining others in taking the next step and requiring all customers to wear face coverings when entering any of our stores throughout the country effective Monday, July 20," CVS tweeted Thursday.Target said in a statement it would start requiring masks or face coverings starting August 1 in all stores. "This builds on the more than 80% of our stores that already require guests to wear face coverings due to local and state regulations," it said.Target said it would provide disposable masks at entrances to customers who don't have one. The announcement came a day after Walmart, Kroger and Kohl's said that masks would be mandatory in all their stores.
    Hackers with ties to North Korea are attacking large US retailers and stealing customer’s credit card information. Security experts discovered the group ‘Hidden Cobra’ has been planting digital ‘skimmers’ on checkout pages for at least one year. Also known as Lazurus, the hacking group was found to use malicious strips such as web skimmers to copy sensitive payment information. The cybercriminals are said to have access major retails including the fashion chain Claire’s, as well as Paper Source and Focus Camera. Security experts discovered the group ‘Hidden Cobra’ has been planting digital ‘skimmers’ on checkout pages for at least one year. Victim stores are shown in green and Hidden Cobra controlled exfiltration nodes in red DailyMail.com has reached out to the companies listed in the attack and has yet to receive a response.  The attack was discovered by a team at Sansec, a firm in the Netherlands that searches for digital skimming operations. RELATED ARTICLES Previous 1 Next One in five people aged over 55 admit to feeling peer... Virgin Media crashes AGAIN...
    BALTIMORE (AP) — U.S. retail sales likely recovered somewhat last month as the economy increasingly reopened from shutdowns caused by the coronavirus and more shoppers felt confident enough to spend. The Commerce Department is expected to report Tuesday that retail purchases climbed 9% from April to May, according to economists surveyed by the data provider FactSet. This would mark a partial comeback after a 16.4% month-to-month plunge in April, the worst such drop on records going back to 1992, and an 8.3% drop in March. Still, the recession caused by the pandemic continues to depress overall retail spending. It has also hastened a reshaping of how and where Americans shop. Consumers have increasingly shifted away from physical stores and toward online shopping, and fewer malls and small retailers will likely survive. Though some major chains like Macy’s and American Eagle have already reported solid bounce-backs in sales, many local retailers and restaurants are struggling. Copyright © 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
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