Latest Retail industry News

US inflation will likely stay high even as gas prices fall

Aug. 10, 2022 00:01 AM EDT

WASHINGTON (AP) — Americans may finally be catching a break from relentlessly surging prices — if just a slight one — even as inflation is expected to remain painfully high for months. Thanks largely to falling gas prices, the government’s inflation report for July, to be...

Demand for grocery delivery cools as food costs rise

Aug. 07, 2022 09:28 AM EDT

Karen Raschke, a retired attorney in New York, started getting her groceries delivered early in the pandemic. Each delivery cost $30 in fees and tips, but it was worth it to avoid the store. Then earlier this spring, Raschke learned her rent was increasing by $617 per month. Delivery...

Gas prices drop again in NJ, around nation amid low demand

Aug. 06, 2022 09:19 AM EDT

TRENTON, N.J. (AP) — Gas prices dropped again in New Jersey and around the nation amid continued low demand and further declines in crude oil prices. AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $4.33, down eight cents from last...

Olympia Sports is closing its remaining 35 stores

Aug. 05, 2022 13:15 PM EDT

PORTLAND, Maine (AP) — A Maine-based sporting goods chain that once had more than 200 stores on the East Coast is shuttering its remaining 35 stores. The company confirmed the stores would close by the end of September and that liquidation sales had begun at all locations. ...

Tennessee sues Walgreens over opioid prescription onslaught

Aug. 03, 2022 18:39 PM EDT

Tennessee's attorney general said Wednesday he has sued Walgreens, accusing the drugstore chain of contributing to the state's opioid crisis by failing to maintain effective controls against the abuse of prescription pain pills. The lawsuit seeking unspecified civil penalties was...

White House: Falling gas prices mean more than OPEC numbers

Aug. 03, 2022 17:36 PM EDT

WASHINGTON (AP) — President Joe Biden traveled to Saudi Arabia last month on the possibility that he could get some additional oil production out of OPEC+ in coming weeks, but the cartel and other nations announced a scant increase Wednesday. The White House responded by stressing...

PayPal, CVS rise; Match Group, Mercury Systems fall

Aug. 03, 2022 16:20 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday: Advanced Micro Devices Inc., down $1.20 to $98.09. The chipmaker gave investors a disappointing revenue forecast for the current quarter. PayPal Holdings Inc., up...

Governor suspends Georgia gas taxes through mid-September

Aug. 03, 2022 11:20 AM EDT

ATLANTA (AP) — Georgia's governor is extending the suspension of the state's motor fuel tax through Sept. 12. Gov. Brian Kemp on Wednesday signed an executive order extending the suspension for a third time. The order also suspends the state sales tax on train locomotive fuel. ...

Growing prescriptions help push CVS past Q2 expectations

Aug. 03, 2022 10:59 AM EDT

CVS Health thumped second-quarter expectations and hiked its full-year forecast as growing prescription claims and COVID-19 test kits sales countered a drop in vaccinations. A longer cough, cold and flu season also brought in more business, and claims in CVS Health's biggest segment,...

Inflation weighs on back-to-school buying for many families

Aug. 03, 2022 07:33 AM EDT

NEW YORK (AP) — To understand the impact of surging inflation on this year's back-to-school spending, look no further than children's rain boots with motifs like frogs and ladybugs made by Washington Shoe Co. Spending held steady for these evergreen items even after the Kent,...