Industries

Retail

Amazon posts biggest profit ever at height of pandemic in U.S.

Amazon posts biggest profit ever at height of pandemic in U.S.

By: Jeffery Dastin, Akanksha Rana
Source: Reuters
Date of Publication: July 30th, 2020
Amazon.com Inc (AMZN.O) on Thursday posted the biggest profit in its 26-year history as online sales and its lucrative business supporting third-party merchants surged during the coronavirus pandemic.
Apple delivers blowout earnings amid COVID-19, market shrugs off iPhone delays

Apple delivers blowout earnings amid COVID-19, market shrugs off iPhone delays

By: Stephen Nellis
Source: Reuters
Date of Publication: July 30th, 2020
Apple Inc (AAPL.O) on Thursday delivered blowout quarterly results, reporting revenue gains across every category and in every geography as consumers working and learning from home during the COVID-19 pandemic turned to its products and services.
Strong online sales help stem revenue declines at Under Armour during pandemic, shares jump

Strong online sales help stem revenue declines at Under Armour during pandemic, shares jump

By: Lauren Thomas
Source: CNBC
Date of Publication: July 31st, 2020
Under Armour’s fiscal second-quarter revenue dropped 41% from a year ago. But that came in better than the retailer was expecting, thanks to e-commerce growth. Under Armour estimated roughly 80% of the stores where its merchandise can be purchased, including its own shops, were closed due to the coronavirus pandemic through mid-May.
Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown

Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown

By: Jeff Cox
Source: CNBC
Date of Publication: July 30th, 2020
The U.S. economy suffered its worst period ever in the second quarter, with GDP falling a historic 32.9%. Economists surveyed by Dow Jones were looking for a decline of 34.7%. Neither the Great Depression nor the Great Recession nor any other slump over the past two centuries have ever caused such a sharp drain on the economy.
U.S. weekly jobless claims rise for a second straight week, total 1.434 million

U.S. weekly jobless claims rise for a second straight week, total 1.434 million

By: Fred Imbert
Source: CNBC
Date of Publication: July 30th, 2020
The Labor Department said initial weekly jobless claims last week came in at 1.434 million. Economists polled by Dow Jones expected claims to rise to 1.45 million. It was the 19th straight week in which initial claims totaled at least 1 million and the second consecutive week in which initial claims rose after declining for 15 straight weeks.
Weekly claims turn higher as coronavirus jobs crisis inflicts more damage

Weekly claims turn higher as coronavirus jobs crisis inflicts more damage

By: Fred Imbert
Source: CNBC
Date of Publication: July 23rd, 2020
The Labor Department said initial jobless claims came in at 1.416 million for the week ending July 18, the 18th straight week in which initial claims totaled more than 1 million. Economists polled by Dow Jones expected a print of 1.3 million. Thursday’s report also snapped a 15-week streak of declining initial claims.
Nike's New Ad Is an Editing Marvel, and Maybe the Best Covid Spot Yet

Nike's New Ad Is an Editing Marvel, and Maybe the Best Covid Spot Yet

By: Tim Nudd
Source: Muse by Clio
Date of Publication: July 30th, 2020
Think repurposed footage is boring? Have a look at Wieden + Kennedy Portland's stunning new Nike commercial, stitched together completely from archival video.
Target to close for Thanksgiving, double down on same-day services _ Marketing Dive

Target to close for Thanksgiving, double down on same-day services

By: Ben Unglesbee
Source: Marketing Dive
Date of Publication: July 27th, 2020
Target has opted to close its stores for Thanksgiving Day this year after opening on the holiday for most of the past decade.
Lowe’s innovation exec on why it was built for the Covid-era consumer

Lowe’s innovation exec on why it was built for the Covid-era consumer

By: Kenneth Hein
Source: The Drum
Date of Publication: July 28th, 2020
Home renovation is hot. Letting contractors into your house is not. Here's how Lowe's prepared for this unlikely scenario, the new tools it has rolled out to address it and what's next on the retailer's innovation 'roadmap.'
Ann Taylor parent Ascena files for Chapter 11 bankruptcy

Ann Taylor parent Ascena files for Chapter 11 bankruptcy

By: Lauren Thomas
Source: CNBC
Date of Publication: July 23rd, 2020
Ascena Retail Group has filed for Chapter 11 bankruptcy protection.