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Jeorganna Barnes, a worker at Harrah's casino in Atlantic City, N.J., wipes slot machines with disinfectant Wednesday, July 1, 2020, as the casino prepared to reopen after 3 1/2 months of being shut down due to the coronavirus. Five of Atlantic City's casinos will reopen on Thursday, while three others, including Harrah's, will open Friday. (AP Photo/Wayne Parry)

Alaska Airlines secures loans; casinos in NJ reopening

Jul. 2, 2020 4:03 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the national and global response, the work place and the spread of the virus. ________________________ TRANSPORTATION: Alaska Airlines has secured nearly $1.2 billion in...

The Nike store on Fifth Avenue is temporarily closed due to the coronavirus pandemic, Monday, June 22, 2020, in New York. Nike lost $790 million in the fourth quarter, as soaring digital sales couldn’t make up for the loss of revenue from shuttered stores in most of the world. The world’s largest sports apparel maker said Thursday, June 25, 2020, that its revenue fell 38% to $6.3 billion in the three-month period ending May 31. (AP Photo/Pamela Hassell)

Nike posts quarterly loss after virus forced store closures

Jun. 25, 2020 8:48 PM EDT

NEW YORK (AP) — Nike lost $790 million in the fourth quarter, as soaring digital sales couldn't make up for the loss of revenue from shuttered stores in most of the world. The world's largest sports apparel maker said Thursday that its revenue fell 38% to $6.31 billion in the three-month period ending May...

FILE - In this March 30, 2020 file photo, the entrance to a Macy's department store is closed behind barriers and storm shutters remains closed  in Orlando, Fla. Macy’s said Thursday, June 25, it’s laying off 3,900 corporate staffers, roughly 3% of its overall workforce, as the pandemic takes a financial toll on the retailer's business.  (AP Photo/John Raoux, File)

Macy's cuts corporate headcount by 3,900 as virus takes toll

Jun. 25, 2020 11:28 AM EDT

NEW YORK (AP) — Macy's said Thursday it's laying off 3,900 people corporate staffers, roughly 3% of its overall workforce, as the pandemic takes a financial toll on the iconic department store chain's sales and profits. The company said in a release that the headcount reduction will save the company $630...

FILE- In this April 29, 2020 file photo, a couple walks past a GNC store at the company's world headquarters in downtown Pittsburgh. The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Health and wellness company GNC Holdings has filed for Chapter 11 bankruptcy protection and is looking to close at least 800 to 1,200 stores. (AP Photo/Gene J. Puskar, File)

GNC files for Ch. 11 bankruptcy protection, Ugg in demand

Jun. 24, 2020 7:06 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the spread of the virus. ________________________ TRAVEL: — U.S. gasoline consumption is more than halfway...

This May 22, 2020 photo shows the Federal Reserve building in Washington. The Federal Reserve said Monday, June 15, 2020 that it will begin purchasing corporate bonds as part of a previously-announced program to ensure companies can borrow through the bond market during the pandemic The program will purchase already-issued bonds on the open market and will seek to build a “broad and diversified” portfolio that will mimic a bond-market index. (AP Photo/Patrick Semansky)

Firearms sales on the rise, more travel bans eased

Jun. 19, 2020 7:57 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the national and global response, the work place and the spread of the virus. ________________________ STRESS TESTS: The Federal Reserve is making modifications to the way...

Visitors enjoy themselves at Yoyo Land, an indoor amusement center in Bangkok, Thailand, Tuesday, June 16, 2020. Daily life in the capital resumes to normal as the government continues to ease restrictions related to running business and activities that were imposed weeks ago to combat the spread of COVID-19. Thailand reported no local transmissions of the coronavirus in the past 3 weeks. (AP Photo/ Gemunu Amarasinghe)

Casinos, airlines, seek return to normality

Jun. 16, 2020 1:59 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to the national and global response, the work place and the spread of the virus. ________________________ TRAVEL: The pandemic has altered travel behavior in multiple ways...

A passer-by holding a mobile device walks past a store window, Tuesday, June 16, 2020, in Cambridge, Mass. According to the Commerce Department U.S. retail sales jumped by a record 17.7% from April to May, with spending partially rebounding after the coronavirus had shut down businesses, flattened the economy and paralyzed consumers during the previous two months. (AP Photo/Steven Senne)

US shoppers returned with vigor in May in partial rebound

Jun. 16, 2020 1:46 PM EDT

BALTIMORE (AP) — American shoppers ramped up their spending on store purchases by a record 17.7% from April to May, delivering a dose of energy for retailers that have been reeling since the coronavirus shut down businesses, flattened the economy and paralyzed consumers during the previous two months. The...

FILE - In this May 20, 2020 file photo, a sign posted outside a McDonald's restaurant reads:

McDonald's worldwide sales improve as stores reopen globally

Jun. 16, 2020 8:35 AM EDT

McDonald’s sales are gradually improving as more of its restaurants reopen worldwide. The Chicago-based fast food giant said Tuesday that its global same-store sales — or sales at locations open at least a year — were down 21% in May from the same month last year. That was an improvement from...

This photo provided by Nissan shows the 2021 Nissan Rogue. (Courtesy of Nissan via AP)

Nissan banks on new Rogue small SUV to begin US comeback

Jun. 15, 2020 9:58 AM EDT

DETROIT (AP) — There’s a lot riding on the Nissan Rogue, the struggling Japanese automaker’s top-selling vehicle in the hottest part of its second-biggest market, the United States. The small SUV has been redesigned for the 2021 model year, and a replacement can’t come fast enough for...

A store worker wearing a mask to protect against the coronavirus, as she prepares the sale room ahead of the reopening of the non-essential business on upcoming Monday, in London, Friday June 12, 2020. Some of the COVID-19 lockdown measures are being eased from upcoming Monday June 15.  The British economy shrank by a colossal 20.4% in April, the first full month that the country was in its coronavirus lockdown, official figures showed Friday.(AP Photo/Alberto Pezzali)

Retail sales look to recover; nations eye economic concerns

Jun. 12, 2020 6:12 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the national and global response, the work place and the spread of the virus. ________________________ EARNINGS RESULTS: — Party City's first-quarter sales fell 19%...