Fifty-eight percent of U.S. consumers said they are likely to avoid public spaces such as shopping centers if the coronavirus spreads across the U.S. as expected. Nearly 28 percent of respondents have already cut back on trips to public areas, according to a survey of 1,934 consumers by Coresight Research.
More than one million products that falsely claimed to cure or defend people against the coronavirus have been removed from Amazon.com in recent weeks. The e-tailing giant also claims to have removed tens of thousands of products that attempted to use concerns about the virus into an opportunist to price-gouge consumers.
Bed Bath & Beyond has announced it will cut about 500 jobs, about 10 percent of its workforce, as part of a restructuring plan intended to save the retailer about $85 million annually. We do not take this action lightly but, while difficult, these measured and purposeful steps are necessary,” said Mark Tritton, the chain’s…
A $2 billion deal to take Hudson’s Bay Co. private, led by Richard Baker, the company’s executive chairman, was approved by 98 percent of shareholders.
Wayfair’s sales jumped 26 percent in the fourth quarter, but the online furniture retailer’s operating expenses ballooned 44 percent at the same time. The company recently cut 550 jobs after it reporting losing $330 million in the most recent quarter.
Levi Strauss CEO Chip Bergh found it difficult to take care of all his professional and personal duties when he was wife had to travel to China to take care of her ailing parents this fall. “I’m a CEO—I’ve got a massive support system around me. And it was challenging to juggle it all,” he…
Target, like other retailers, has raised its minimum hourly wage in recent years as a result of a tighter job market and political pressure. Workers at the chain, which is scheduled to increase its hourly minimum to $15 this year, say that pay increases have come with a cut in shift hours and more work…
McDonald’s has created its own new national holiday – National Egg McMuffin Day – and the fast-food chain is celebrating by giving away free sandwiches between 6:00 and 10:30 a.m.local time on Monday.
Best Buy reported a same-store sales gain of 3.2 percent in the fourth quarter, above the 1.9 percent expected by analysts. The consumer electronics chain benefited from a strong holiday sales performance to post earnings per share of $2.90, better than the $2.75 Wall Street was anticipating.
J.C. Penney posted a 13 cent gain in adjusted earnings per share in the fourth quarter, surprising analysts who forecast a net loss of six cents. The department store chain’s sales fell seven percent during the quarter, slightly better than the 7.3 percent expected by Wall Street.