Latest Retail industry News

FILE - In this June 22, 2016 file photo, a waitress serves customers beer at a restaurant in Dubai, United Arab Emirates. In mid-September 2020, Abu Dhabi, the conservative capital of the United Arab Emirates, eliminated its licensing system for alcohol purchases allowing Muslims previously barred from obtaining licenses to be able to purchase from retailers. (AP Photo/Kamran Jebreili, File)

Abu Dhabi, UAE's conservative capital, ends alcohol licenses

Sep. 21, 2020 8:09 AM EDT

DUBAI, United Arab Emirates (AP) — Abu Dhabi, the conservative capital of the United Arab Emirates, is eliminating its licensing system for alcohol purchases for drinkers after Dubai repeatedly loosened its own rules to boost sales and tourism amid the ongoing coronavirus pandemic. The emirate's Department...

Medical staff prepare to take a COVID-19 tests at a drive through community based assessment centre in Christchurch, New Zealand, Thursday, Aug. 13, 2020. Health authorities in New Zealand are scrambling to trace the source of a new outbreak of the coronavirus as the nation's largest city, Auckland, goes back into lockdown. (AP Photo/Mark Baker)

The Latest: First case-free day for New Zealand in 5 weeks

Sep. 17, 2020 11:15 PM EDT

WELLINGTON, New Zealand — New Zealand has reported no new confirmed cases of the coronavirus for the first time in more than five weeks as hopes rise that an outbreak discovered in Auckland last month has been stamped out. Friday’s report also marked the fourth consecutive day without any cases of...

This Sept. 4, 2020, photo, shows Regio, a Mexican toilet paper brand, on the shelf at a CVS in New York. Demand for toilet paper has been so high during the pandemic that in order to keep their shelves stocked, retailers across the country are buying up foreign toilet paper brands, mostly from Mexico. (AP Photo/Joseph Pisani)

Petalo, not Charmin: Virus brings Mexican toilet paper to US

Sep. 17, 2020 11:05 AM EDT

NEW YORK (AP) — Toilet paper is back on store shelves. But you may not recognize some of the brands. Demand for toilet paper has been so high during the pandemic that in order to keep their shelves stocked, retailers are buying up foreign toilet paper brands, mostly from Mexico. Major chains, across the...

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 17, 2020. Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans. (AP Photo/Ahn Young-joon)

Asian stocks retreat on lack of new Fed action

Sep. 16, 2020 11:28 PM EDT

Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans. Market benchmarks in Shanghai, Tokyo, Seoul and Hong Kong all retreated. Wall Street's benchmark S&P 500 index...

Passers-by examine a storefront window, Tuesday, Sept. 15, 2020, in Boston's fashionable Newbury Street shopping district.  The U.S. Commerce Department said Wednesday that retail sales rose 0.6% last month, the fourth straight month of growth.   (AP Photo/Steven Senne)

Retail sales rise for 4th straight month as growth slows

Sep. 16, 2020 10:08 AM EDT

NEW YORK (AP) — Americans kept spending in August, but the pace of that growth is slowing as millions of people who lost jobs have now lost a $600 a week boost in their unemployment checks. Retail sales rose 0.6% last month, the fourth consecutive month of growth, the U.S. Commerce Department said...

Americans kept spending in August, sending retail sales up 0.6% for the 4th consecutive month of growth

Sep. 16, 2020 8:33 AM EDT
NEW YORK (AP) — Americans kept spending in August, sending retail sales up 0.6% for the 4th consecutive month of growth.
A currency trader stands near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Wednesday, Sept. 16, 2020. Shares were mostly higher in Asia on Wednesday after advances for big technology companies carried Wall Street to further gains overnight. (AP Photo/Lee Jin-man)

Asian shares mostly higher after Wall Street gains

Sep. 15, 2020 11:59 PM EDT

Shares were mostly higher in Asia on Wednesday after advances for big technology companies carried Wall Street to further gains overnight. Benchmarks rose modestly in Tokyo, Hong Kong and Seoul but the Shanghai Composite index was almost flat. Investors are awaiting the outcome of the U.S. Federal Reserve...

FILE - In this Dec. 18, 2014 file photo, a Federal Express driver returns to his truck after delivering a package to a business in Springfield, Ill. FedEx earned $1.25 billion in its latest quarter, as online shopping remained popular among customers avoiding stores and shipments between businesses improved. The delivery giant reported Tuesday, Sept. 15, 2020 that it brought in $19.3 billion in revenue during the three months that ended Aug. 31, FedEx's fiscal first quarter. (AP Photo/Seth Perlman, File)

FedEx's profit jumps as residential deliveries soar

Sep. 15, 2020 7:19 PM EDT

NEW YORK (AP) — FedEx's profit jumped 67% in its latest quarter, as online shopping soared among customers avoiding stores and shipments between businesses improved. The delivery giant reported Tuesday that it earned $1.25 billion during the three months that ended Aug. 31, FedEx's fiscal first quarter....

Kohl's to cut 15% of office jobs due to virus-related slump

Sep. 15, 2020 5:24 PM EDT

NEW YORK (AP) — Kohl's, whose sales have been hurt by the pandemic, said Tuesday that it will cut 15% of its office workers to save money. The company declined to say how many people will lose their jobs. The layoffs will be at its headquarters in Menomonee Falls, Wisconsin, as well as offices in New York...

FILE - In this Nov. 25, 2019 file photo, pedestrians pass a store window for luxury brand Louis Vuitton, in New York. There are plenty of designer and luxury brands on the market, and in part because of Instagram’s fashion bloggers and influencers, they’re all the rage. Whether you want to invest in a quality item to last for years or you just want to treat yourself to a luxury label every once in a while, you can reduce your costs by shopping secondary markets or outlet stores.  (AP Photo/Mark Lennihan, File)

Millennial Money: How frugal fashionistas can stay on trend

Sep. 15, 2020 7:23 AM EDT

Nowadays, it’s not just celebrities who wear high-end clothing and accessories. The influencers filling your social media feed likely wear them, too. Millennials love buying luxury names, according to Thomai Serdari, academic director of the Fashion & Luxury MBA at NYU Stern School of Business and...