Latest Retail industry News

Gas prices drop more in NJ, tick up across nation overall

Sep. 26, 2020 12:20 PM EDT

TRENTON, N.J. (AP) — Gas prices dropped further in New Jersey but ticked up across the nation on average, analysts say. AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $2.17, down two cents from last week. The national average price for a gallon of regular...

FILE - In this Aug. 27, 2018, file photo, a patched sign stands at the construction site for the Consumer Financial Protection Bureau's new headquarters in Washington. California created what supporters called its own nation-leading, state-level version of the federal Consumer Financial Protection Bureau after critics said the Trump administration significantly weakened national protections, Friday, Sept. 25, 2020. The legislation that Gov. Gavin Newsom signed into law changes the existing Department of Business Oversight into the Department of Financial Protection and Innovation in what proponents said is the first such move by any state. (AP Photo/Andrew Harnik, File)

California expands financial protections after US rollback

Sep. 25, 2020 6:58 PM EDT

SACRAMENTO, Calif. (AP) — California on Friday created what supporters call its own nation-leading, state-level version of the federal Consumer Financial Protection Bureau after critics said the Trump administration significantly weakened national protections. The legislation that Gov. Gavin Newsom signed...

FILE - In this Wednesday, March 21, 2018 file photo, The logo of the German car manufacturer BMW is visible at the headquarters during the earnings press conference in Munich, Germany. BMW will pay an $18 million fine to settle allegations that it inflated its U.S. monthly sales numbers for five straight years. The Securities and Exchange Commission said Thursday, Sept. 24, 2020 that the German luxury automaker kept a reserve of unreported sales that it drew on to meet monthly targets from 2015 to 2019.(AP Photo/Matthias Schrader, File)

BMW fined $18 million for inflating monthly US sales figures

Sep. 24, 2020 5:43 PM EDT

DETROIT (AP) — BMW will pay an $18 million fine to settle allegations that it inflated its monthly U.S. sales numbers for five straight years. The Securities and Exchange Commission said Thursday that the German luxury automaker kept a reserve of unreported sales that it drew on to meet monthly targets...

This is the sign on a Rite Aid Pharmacy in Pittsburgh, Pa., Tuesday, April 14, 2020.  Rite Aid topped Wall Street expectations for the fiscal second quarter, Thursday, Sept. 24,  and gave a revised annual forecast, one quarter after withdrawing it due to COVID-19 uncertainty. (AP Photo/Gene J. Puskar)

Rite Aid tops Street 2Q expectations, revises forecast

Sep. 24, 2020 9:14 AM EDT

Rite Aid topped Wall Street expectations for the fiscal second quarter and gave a revised annual forecast, one quarter after withdrawing it due to COVID-19 uncertainty. The drugstore chain said Thursday that its quarterly loss shrank to $13.2 million from $79.3 million in the previous year’s quarter. An...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 24, 2020. Asian shares were mostly lower Thursday as caution again after a retreat on Wall Street driven by a decline in technology shares.(AP Photo/Ahn Young-joon)

Asian shares fall as caution sets in after Wall St retreat

Sep. 23, 2020 11:05 PM EDT

Asian shares were mostly lower Thursday as caution set in after a retreat on Wall Street driven by a decline in technology shares. Market players are feeling less optimistic about action from the U.S. Federal Reserve and Congress to help the U.S. economy amid the distractions of the presidential election and the...

Oregon Lottery games offline for Portland, coast after fires

Sep. 23, 2020 3:10 PM EDT

PORTLAND, Ore. (AP) — Oregon Lottery games in Portland and on the coast went dark after damage caused by wildfires. Matt Shelby, an Oregon Lottery spokesperson, said 95 retailers in the Portland area and 25 on the northern Oregon coast lost connection to lottery games when fires damaged the Century Link...

FILE - In this April 29, 2017, file photo journalist Bob Woodward sits at the head table during the White House Correspondents' Dinner in Washington. Woodward, facing widespread criticism for only now revealing President Donald Trump's early concerns about the severity of the coronavirus, told The Associated Press that he needed time to be sure that Trump's private comments from February were accurate. (AP Photo/Cliff Owen, File)

Woodward's 'Rage' sells 600,000 copies in first week

Sep. 23, 2020 12:32 PM EDT

NEW YORK (AP) — Bob Woodward's “Rage” sold more than 600,000 copies in its first week of publication, continuing a yearlong wave of blockbuster books about President Donald Trump. Simon & Schuster announced Wednesday that Woodward's book will be going into its fourth printing, with total...

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Sept. 23, 2020. Asian markets were mostly lower on Wednesday as investors kept a wary eye on how the coronavirus pandemic will affect the economic outlook.
(AP Photo/Ahn Young-joon)

Asian shares take breather after Wall Street gains

Sep. 23, 2020 12:04 AM EDT

Asian markets were mostly lower on Wednesday as investors kept a wary eye on how the coronavirus pandemic will affect the economic outlook. Stocks slipped Wednesday in Japan, Hong Kong and Seoul but rose in Sydney after the government reported retail sales fared better than expected. Overnight, the S&P 500...

FILE - In this file photo dated Tuesday, Sept. 4, 2018, a Nike company logo is displayed outside a Nike store in Charlotte, N.C. Nike appears to have recovered from its pandemic slump, posting a solid quarterly profit driven by soaring online sales of its sneakers and workout apparel. The world's largest sports apparel maker on Tuesday, Sept. 22, 2020 reported a net profit of $1.5 billion profit, or 95 cents per share, in the three-month period ending Aug. 31, up 11% from the same 2019 quarter. (AP Photo/Chuck Burton, file)

Nike shakes off pandemic blues with surging online sales

Sep. 22, 2020 6:32 PM EDT

NEW YORK (AP) — Nike appears to have recovered from its pandemic slump, posting a solid quarterly profit driven by soaring online sales of its sneakers and workout apparel. The world's largest sports apparel maker on Tuesday reported a net profit of $1.5 billion profit, or 95 cents per share, in the...

FILE - Pedestrians wear protective masks during the coronavirus pandemic as they walk past Brookfield Place Saturday, May 9, 2020, in New York. Brookfield Properties, one of the nation’s largest mall operators, is cutting 20% of its workforce in its retail division, as the pandemic has accelerated online shopping and resulted in a string of store closings and bankruptcies. (AP Photo/Frank Franklin II)

Mall titan Brookfield, Ralph Lauren both reducing workforce

Sep. 22, 2020 1:56 PM EDT

NEW YORK (AP) — Brookfield Properties, one of the nation's largest mall operators, is cutting 20% of its workforce in its retail division, as the pandemic has accelerated online shopping and resulted in a string of store closings. The Chicago-based mall, which operates 170 mall properties, has more than...