Retail

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 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.

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.

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.

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.

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.

Think repurposed footage is boring? Have a look at Wieden + Kennedy Portland's stunning new Nike commercial, stitched together completely from archival video.

Target has opted to close its stores for Thanksgiving Day this year after opening on the holiday for most of the past decade.

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.'

Ascena Retail Group has filed for Chapter 11 bankruptcy protection.