Industries

Retail

Best Buy signals slowing sales of work-from-home electronics

Best Buy signals slowing sales of work-from-home electronics

By: Uday Sampath Kumar
Source: Reuters
Date of Publication: February 25th, 2021
Best Buy Co Inc signaled a slowdown in the coronavirus crisis-driven demand for remote-work computer equipment as it missed holiday-quarter sales estimates, sending its shares down 8%.
Valentino is sued for $207 million after shutting Manhattan boutique over pandemic

Valentino is sued for $207 million after shutting Manhattan boutique over pandemic

By: Jonathan Stempel
Source: Reuters
Date of Publication: February 19th, 2021
Valentino SpA was sued for $207.1 million by the landlord of its former American flagship on Manhattan’s Fifth Avenue, which said the Italian fashion company had no right to break its lease and leave the store in disrepair.
Kroger to pay workers $100 if they get the Covid-19 vaccine

Kroger to pay workers $100 if they get the Covid-19 vaccine

By: David Williams
Source: CNN Business
Date of Publication: February 6th, 2021
Kroger has joined a growing list of large US grocery store chains offering incentives for workers to get the Covid-19 vaccine. The company announced that its associates would get a one-time $100 payment if they show proof that they've received the full manufacturer-recommended doses of a Covid-19 vaccine.
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Ebay earnings beat on pandemic-driven surge in online shopping; shares soar

Ebay earnings beat on pandemic-driven surge in online shopping; shares soar

By: Akanksha Rana, Jeffrey Dastin
Source: Reuters
Date of Publication: February 3rd, 2021
E-commerce firm eBay Inc said it would emerge “stronger” from the COVID-19 crisis after a pandemic-driven surge in online shopping helped the company beat estimates for sales and profit in the holiday quarter.
10,000 stores are expected to close in 2021, as pandemic continues to pummel retailers

10,000 stores are expected to close in 2021, as pandemic continues to pummel retailers

By: Lauren Thomas
Source: CNBC
Date of Publication: January 28th, 2021
One retail research and advisory group predicts as many as 10,000 stores could be closed in the United States this year, which would set a new record, as the Covid pandemic continues to take a toll on the industry and companies rethink how many locations they can sustain.
Target to give employees bonuses after strong holiday season, extends Covid-related benefits

Target to give employees bonuses after strong holiday season, extends Covid-related benefits

By: Melissa Repko
Source: CNBC
Date of Publication: January 25th, 2021
Target said it will spend $200 million on another round of bonuses for employees and will extend its coronavirus-related benefits. It will give $500 bonuses to all hourly workers and $1,000 to $2,000 bonuses to those in leadership roles, such as store directors.
Shoppers walk past a "Sale" sign outside a store at the Easton Town Center Mall in Columbus, Ohio, on Jan. 7.

Retail Spending Dips For 3rd Straight Month As Infections Surge

By: Alina Selyukh
Source: National Public Radio
Date of Publication: January 15th, 2021
Restaurants and bars are reeling from persistent spikes of coronavirus cases and related restrictions in their communities, driving retail spending in December down for the third month in a row.
Dollar General storefront with 2 cars parked outside

Dollar General Will Pay Workers to Get a Covid-19 Vaccine

By: Sarah Krouse
Source: Wall Street Journal
Date of Publication: January 13th, 2021
Retailer is one of the first to dangle extra pay to staff to encourage them to get coronavirus shots once available.
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Masked customers browsed Bronner's Christmas Wonderland store in Frankenmuth, Mich., in early December.

Holiday Shoppers Steered Clear of Stores, Favoring Online Buying

By: Sarah Nassauer
Source: Wall Street Journal
Date of Publication: December 26th, 2020
During a remade shopping season, many Americans ditched stores for digital outlets. And pandemic buying trends that favored household goods and food over apparel continued, according to early sales data from firms that track shopper spending.
CVS Health, Walgreens start to provide Covid vaccines at thousands of hard-hit nursing homes

CVS Health, Walgreens start to provide Covid vaccines at thousands of hard-hit nursing homes

By: Melissa Repko
Source: CNBC
Date of Publication: December 18th, 2020
CVS Health and Walgreens are starting to give Covid-19 vaccinations to residents and staff at nursing homes and assisted living facilities, making them among the first Americans to receive the shots.