Latest Holiday spending News

FILE - This June 25, 2019, file photo shows the entrance to a Walmart in Pittsburgh. Walmart is reporting  disappointing fourth-quarter profits and sales. The nation's largest retailer says that sales at its U.S. stores heading into the holiday season were weaker than expected. It also said that social unrest in Chile hurt its business. (AP Photo/Gene J. Puskar, File)

A rare miss for Walmart to end the year

Feb. 18, 2020 2:58 PM EST

NEW YORK (AP) — Walmart reported disappointing fourth-quarter profits and sales after a sluggish and shortened holiday shopping season. Violent social protests in Chile, where there are hundreds of Walmart stores, cut into international sales. Walmart also delivered a weak profit forecast for the year and...

FILE- In this Nov. 23, 2018, file photo shoppers browse the aisles during a Black Friday sale at a Target store in Newport, Ky. Comparable stores sales at Target fell well below the previous year, joining a growing list of retailers reporting a meager performances during the critical holiday shopping season. Target said Wednesday, Jan. 15, 2020, that it had weaker-than-expected sales of electronics, toys and some home good. Those sales climbed 1.4% in the November-December period, compared with a 5.7% increase a year earlier.  (AP Photo/John Minchillo, File)

Target, like other retailers, did not have a Merry Christmas

Jan. 15, 2020 1:06 PM EST

Target reported a rare shortfall in holiday sales, raising concerns about the challenges ahead for the traditional retail industry even as the economy remains strong. Target's disappointing growth of 1.4% percent for November and December, dragged down by toys and electronics, fell well below the previous year....

FILE - In this Feb. 8, 2019, file photo, the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange.  Citigroup’s fourth-quarter profits rose by 15% from a year earlier, as the bank benefited from a boost in trading similar to its competitor JPMorgan Chase. Citi said Tuesday, Jan. 14, 2020,  that bond trading revenues were up 49% from a year earlier, when a steep downfall in the last quarter of 2018 took its toll on all banks’ trading desks.  (AP Photo/Richard Drew, File)

Citigroup profits rise 15%, helped by trading like JPMorgan

Jan. 14, 2020 9:08 AM EST

NEW YORK (AP) — Citigroup's fourth-quarter profits rose by 15%, as the banking conglomerate benefited from a boost in trading similar to competitor JPMorgan Chase. The New York-based bank said Tuesday that it earned a profit of $4.98 billion, or $2.15 per share, compared with a profit of $4.3 billion, or...

Atlanta Hawks' Young cancels $1M in medical debt for locals

Jan. 8, 2020 8:48 PM EST

ATLANTA (AP) — The holiday season is over but Atlanta Hawks point guard Trae Young still had some charity gift giving in mind: wiping out medical debt for hundreds of the city's residents. The 21-year-old star donated $10,000 to a medical debt erasure agency which relieved over $1 million in debt for those...

FILE - In this Tuesday, Nov. 5, 2019 file photo shoppers browse the Holiday Lane section at the Macy's flagship store, in New York. Macy's is closing nearly 30 stores in coming weeks, though the company reported some improvement in comparable-stores sales during the crucial holiday shopping season.  Macy's sales at stores opened at least a year fell 0.6% during the November and December period, which was not as bad as most industry analysts had anticipated. Shares rose more than 2% in early trading Wednesday, Jan. 8, 2020.   (AP Photo/Richard Drew, File)

Macy's closing stores despite upbeat holiday sales numbers

Jan. 8, 2020 2:51 PM EST

NEW YORK (AP) — Macy's is closing 29 stores in coming weeks despite the company reporting some improvement in comparable-stores sales during the crucial holiday shopping season. In an email to The Associated Press, the Cincinnati-based retailer said the store closures include 28 Macy’s locations...

Company fires worker who criticized holiday gift via Twitter

Jan. 7, 2020 12:57 PM EST

WINONA, Minn. (AP) — A man who complained on social media about his company's holiday gift — barbecue sauce and a grill scraper — wound up getting fired for it. The man, a Canadian branch manager for Minnesota company Fastenal, was dismissed just before New Year's Day after he posted a tweet...