Latest Retail industry News

Maine supermarket chain launches school food pantry drive

Nov. 15, 2019 1:40 AM EST

SCARBOROUGH, Maine (AP) — A Maine-based supermarket chain says it’s launching a new initiative to tackle hunger and food insecurity in children, starting with a $1 million donation. Hannaford Supermarkets says it’s calling the project “Fuel Kids at School.” The company says it...

Stock prices surge on bullish talk on China-US trade deal

Nov. 15, 2019 12:27 AM EST

BANGKOK (AP) — Shares advanced in Asia on Friday after White House officials said China and the U.S. were getting close to an agreement to cool tensions over trade. Markets have swung from euphoria to alarm as officials in Beijing and Washington offered conflicting opinions about the state of the...

NY attorney general: B&H failed to pay millions in taxes

Nov. 14, 2019 10:28 PM EST

NEW YORK (AP) — The New York state attorney general says one of the nation’s biggest photo and video equipment retailers, Manhattan’s B&H, has failed to pay millions in sales taxes. According to a lawsuit filed Thursday by Attorney General Letitia James, B&H Foto & Electronics...

Buffett’s firm adds stake in RH, trims Wells Fargo holdings

Nov. 14, 2019 6:03 PM EST

OMAHA, Neb. (AP) — Warren Buffett’s company has added new investments in luxury retailer RH and Occidental Petroleum while trimming its Wells Fargo holdings. Berkshire Hathaway Inc. filed a quarterly update on its U.S. stock portfolio with regulators on Thursday. The filing shows what...

Grocery store owner gets prison term for food stamp scheme

Nov. 14, 2019 2:43 PM EST

NEWARK, N.J. (AP) — The owner of a grocery store in New Jersey's largest city is headed to prison for running a food stamp benefit fraud scheme while trying to hide his involvement in the business. Jamil Bader received a 37-month sentence Thursday. The 60-year-old Teaneck man pleaded guilty in July to a...

Walmart offers holiday cheer as traditional peers struggle

Nov. 14, 2019 11:40 AM EST

NEW YORK (AP) — Walmart is offering some holiday cheer heading into the crucial Christmas shopping season even as many of its traditional peers struggle. The nation’s largest retailer raised its annual profit expectations on Thursday after reporting strong third-quarter results helped by its grocery...

Sizing up the 2019 holiday shopping season for retailers

Nov. 14, 2019 10:43 AM EST

NEW YORK (AP) — With two weeks until the official start of the holiday shopping season, the nation’s retailers are gearing up for what should be another brutally competitive shopping period. The good news? Many retail CEOs say the U.S. consumer is financially healthy given the economy remains strong...

Markets Right Now: S&P 500, Dow at records; Nasdaq falls

Nov. 13, 2019 4:12 PM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks struggled to a mixed finish on Wall Street but with enough lift to set more record highs for the S&P 500 and the Dow Jones industrials. Major indexes had been higher at midday Wednesday but took a stumble...

Agency sues Colorado pharmacy board for prescription data

Nov. 12, 2019 4:36 PM EST

DENVER (AP) — The federal Drug Enforcement Administration is seeking access to Colorado's prescription information in a lawsuit sparking a dispute over privacy. The Colorado Sun reported Monday that the DEA's lawsuit filed in federal court in Denver requests data from the State Board of Pharmacy's database...

Gallon of gas jumps 3 cents per gallon in Rhode Island

Nov. 12, 2019 3:05 PM EST

PROVIDENCE, R.I. (AP) — The average price of a gallon of gasoline in Rhode Island has risen 3 cents. AAA Northeast said Tuesday that self-serve, regular is selling for an average of $2.51 per gallon, 10 cents lower than the national average and 21 cents lower than the in-state price a year ago. AAA's Lloyd...