Latest Retail industry News

Wall Street breaks 7-week losing streak, longest since 2001

May. 27, 2022 16:45 PM EDT

NEW YORK (AP) — Technology companies led a broad rally for stocks Friday as Wall Street notched its best week in 18 months. The gain broke a seven-week losing streak for the market, the longest such stretch since 2001. The S&P 500 rose 2.5% and finished 6.6% higher for the...

Big Lots, American Eagle fall; Dell, Ulta Beauty rise

May. 27, 2022 16:39 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday: Gap Inc., up 48 cents to $11.60. The clothing chain gave investors a mixed financial report, with solid revenue during the first quarter but a slashed profit forecast for the year. ...

Blaze destroys landmark restaurant in Detroit's Midtown

May. 27, 2022 13:58 PM EDT

DETROIT (AP) — Fire destroyed a landmark restaurant and brewpub Friday in Midtown Detroit, but spared the neighboring Third Man Records store owned by musician Jack White as well as Shinola's flagship watch store. No one was inside Traffic Jam & Snug when the blaze happened,...

Consumers find slightly lower lobster prices as summer nears

May. 27, 2022 11:06 AM EDT

PORTLAND, Maine (AP) — Lobster prices are dipping somewhat just before Memorial Day weekend — the unofficial start of the industry's critical summer season. The price of lobster and seafood at large has shot up in recent years, and the price to lobster fishermen at the docks...

Asian shares' rise broadly cheered by US earnings, rally

May. 26, 2022 23:46 PM EDT

TOKYO (AP) — Asian shares gained Friday as investors cheered a strong set of earnings from retailers that has sent U.S. shares higher. Benchmarks were rising in early trading across the region, including Japan, China, Australia and South Korea. “Improved risk...

Macy's raises annual profit outlook on strong Q1 results

May. 26, 2022 18:20 PM EDT

NEW YORK (AP) — Shoppers' return to occasion dressing helped to power Macy's fiscal first-quarter results, and the department store chain raised its annual earnings outlook even as surging inflation is crimping Americans' budgets. The results announced Thursday were among the few...

How major US stock indexes fared Thursday

May. 26, 2022 16:43 PM EDT

Stocks are ending higher on Wall Street Thursday as investors cheered a strong set of quarterly results from Macy’s and other retailers. The S&P 500 rose and is solidly in the green for the week following a choppy few days of trading. The gains have positioned the benchmark...

Macy's, Dollar Tree rise; Nutanix, Medtronic fall

May. 26, 2022 16:29 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Thursday: Williams-Sonoma Inc., up $15.02 to $130. The seller of cookware and home furnishings handily beat Wall Street's first-quarter profit forecasts. Dollar General Corp.,...

More Memorial Day travel expected, despite high gas prices

May. 26, 2022 15:27 PM EDT

LOS ANGELES (AP) — To drive, or not to drive? This Memorial Day weekend, with surging gas prices that are redefining pain at the pump, that is the question for many Americans as a new COVID-19 surge also spreads across the country. For Marvin Harper, of Phoenix, his family’s...

Retailers' troubles sound the alarm for rest of economy

May. 26, 2022 09:03 AM EDT

NEW YORK (AP) — The fastest inflation in 40 years squeezed retailers during the first quarter, alarming investors worried about the broader economy's outlook. Earnings reports from Walmart, Target and Amazon this month showed higher costs are hurting retailers' operations. While...