Latest Retail industry News

US gas prices remain steady at $2.25/gallon

Aug. 9, 2020 2:22 PM EDT

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline held steady over the past two weeks at $2.25 per gallon. That’s 50 cents below the average pump price from a year ago. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday the prices are stable because crude...

FILE - In this June 24, 2019 file photo, shoppers enter a Walgreens store in Los Angeles. Lawsuits filed by two Ohio counties against retail pharmacy chains  CVS, Walgreens, Rite Aid, Walmart and Giant Eagle claiming their opioid dispensing practices flooded communities with pain pills and were a a public nuisance can continue after U.S. District Judge Dan Polster, a federal judge in Cleveland, denied the chains' motion to dismiss the complaints in a ruling Thursday, Aug. 6, 2020. (AP Photo/Marcio Jose Sanchez, File)

Judge rejects pharmacy chains' bid to toss opioid suits

Aug. 7, 2020 3:25 PM EDT

CLEVELAND (AP) — Lawsuits filed by two Ohio counties against retail pharmacy chains claiming their opioid dispensing practices flooded communities with pain pills and were a a public nuisance can continue, a federal judge in Cleveland has determined. U.S. District Judge Dan Polster rejected the pharmacy...

FILE - In this April 18, 2020, file photo, partitions are installed between beds as work is performed to turn Sleep Train Arena in Sacramento, Calif., into a 400-bed emergency field hospital to help deal with the coronavirus outbreak. When California was anticipating a spring surge in coronavirus cases it turned an old NBA arena and practice facility into a field hospital prepared to take hundreds of patients. They were told to expect 30 to 60 patients within the first few days, but only nine arrived over the next 10 weeks. (AP Photo/Rich Pedroncelli, File)

State spent millions on arena hospital that saw 9 patients

Aug. 6, 2020 1:20 AM EDT

SACRAMENTO, Calif. (AP) — Doctors arrived at an arena-turned-medical center in Sacramento in mid-April and were told to prepare for 30 to 60 coronavirus patients to arrive within days. They spent the weekend working feverishly to get ready. State officials envisioned the cavernous Sleep Train Arena and an...

FILE- In this Dec. 4, 2017, file photo, the CVS Health logo appears above a trading post on the floor of the New York Stock Exchange.  CVS Health’s second-quarter performance beat Wall Street’s expectations as the drugstore chain and pharmacy benefits manager experienced reduced benefit costs. It raised its full-year earnings forecast. (AP Photo/Richard Drew, File)

CVS posts strong 2Q, with virus delaying elective procedures

Aug. 5, 2020 1:55 PM EDT

CVS Health reported surprisingly strong second-quarter earnings as people postponed elective medical procedures during the COVID-19 pandemic, and it raised its profit expectations for the year. The postponed procedures led to lower benefit costs for the company's Aetna insurance arm, a main reason net income...

FILE - In this July 31, 2019, file photo, people walk past a Honda car on display at Honda Motor Co. headquarters in Tokyo. Japanese automaker Honda reported Wednesday, Aug. 5, 2020, it sank into the red for the April-June quarter, as its sales plunged over the coronavirus pandemic, especially in the U.S., Japan and India. (AP Photo/Koji Sasahara, File)

Japan's Honda reports loss in April-June as virus hits sales

Aug. 5, 2020 4:30 AM EDT

TOKYO (AP) — Japanese automaker Honda reported Wednesday that it sank into the red for the April-June quarter, as its sales plunged due to the coronavirus pandemic, especially in the U.S., Japan and India. Honda Motor Co. racked up an 80.8 billion yen ($765 million) fiscal first quarter loss, a reversal...

Chicago police investigate the scene where three people were shot, one of them fatally, in the Gold Coast neighborhood of the Chicago, Tuesday, Aug. 4, 2020. (Tyler LaRiviere/Chicago Sun-Times via AP)

3 shot, 1 fatally in violence on fashionable Chicago street

Aug. 4, 2020 11:37 PM EDT

CHICAGO (AP) — A shooting on one of Chicago’s most fashionable streets Tuesday left one person dead and two others injured, according to authorities. Two shooters jumped from separate vehicles and opened fire on a group of people standing outside shops on Oak Street, said Deputy Chief Daniel...

FILE - In this June 26, 2019, file photo, a package of meatless burgers by Beyond Meat are seen in Orlando, Fla. More people are throwing plant-based burgers on the grill this summer. Beyond Meat, which makes pea protein-based burgers and sausages, says its second-quarter revenue in 2020 jumped 69% to $113 million as more households tried its products. That far outpaced Wall Street’s forecast of $99 million. (AP Photo/John Raoux, File)

Beyond Meat's 2Q sales jump as more try plant-based burgers

Aug. 4, 2020 6:24 PM EDT

More people are throwing plant-based burgers on the grill this summer. Beyond Meat, which makes pea protein-based burgers and sausages, said Tuesday its second quarter revenue jumped 69% to $113 million as more households tried its products in the U.S. and elsewhere. Sales far outpaced Wall Street’s...

FILE - Back-to-school supplies await shoppers at a store on Saturday, July 11, 2020, in Marlborough, Mass.  The pandemic has dragged into the new school year and wreaked havoc on reopening plans. That has extended to the back-to-school shopping season, the second most important period for retailers behind the holidays.  (AP Photo/Bill Sikes, File)

COVID-19 reshapes and reduces back-to-school spending

Aug. 4, 2020 12:22 PM EDT

NEW YORK (AP) — For Michelle Lynn England, back-to-school shopping always meant heading to Target and the local mall with her two girls and dropping about $500 on each of them for trendy outfits. Not this year. The Charlotte, North Carolina, woman cut her spending on clothing in half for her 10-year-old...

A JoS. A. Bank clothing chain location in Washington, Monday, Aug. 3, 2020. Tailored Brands, known for its clothing chains Men's Wearhouse and JoS. A. Bank, struggled as the pandemic shut stores and consumer demand for office attire dropped, has filed for bankruptcy. (AP Photo/Andrew Harnik)

US retailers that have sought bankruptcy protection in 2020

Aug. 3, 2020 1:25 PM EDT

Following is a list of retailers that have sought bankruptcy protect in 2020. Le Tote Inc. (Lord & Taylor), Aug. 3 Tailored Brands Inc. (Men's Wearhouse; Jos. A. Bank), Aug. 2 Ascena Retail Group Inc. (Ann Taylor; Lane Bryant) — July 23 Occasion Brands LLC — July 22 The Paper Store Inc....

FILE - In this photo made on Wednesday, April 25, 2018, the prices for regular gas and diesel are posted at a Speedway station in Zelienople, Pa. The $21 billion sale of Speedway gas stations buys Marathon Petroleum some breathing room as the global pandemic continues to punish the energy sector. Wall Street focused on the sale to 7-Eleven over the weekend, rather than the huge losses the company posted Monday, Aug. 3, 2020 with a lack of demand for fuel leading to refinery shutdowns. (AP Photo/Keith Srakocic, file)

Sale of Speedway gas stations buys Marathon breathing room

Aug. 3, 2020 1:18 PM EDT

SILVER SPRING, Md. (AP) — The $21 billion sale of Speedway gas stations has bought Marathon Petroleum some breathing room as the global pandemic continues to quash travel and smother demand for gasoline and jet fuel. Wall Street focused on the sale to 7-Eleven over the weekend, rather than the huge losses...