Latest Retail industry News

FILE - In this Dec. 22, 2017, file photo people shop at the Pentagon City Mall in Arlington, Va. Clothing retailers, particularly those in malls, have been devastated by changing consumer behavior. More than 9,000 stores were shuttered last year. (AP Photo/Susan Walsh, File)

Express, seeking revival, to close 100 stores

Jan. 22, 2020 4:49 PM EST

NEW YORK (AP) — Express, a staple in U.S. malls, will close about 100 stores as part of a restructuring plan as the chain grapples with drastic changes in where people spend their shopping dollars. The retailer that caters to younger shoppers said earlier this month that it was laying off 10% of the staff...

This cover image released by Flatiron Books shows

Winfrey chooses the novel "American Dirt" for her book club

Jan. 21, 2020 8:35 AM EST

NEW YORK (AP) — Jeanine Cummins' “American Dirt,” one of the year's most anticipated and debated novels, is Oprah Winfrey's new pick for her book club. “American Dirt,” published Tuesday, tells of a bookstore owner in Acapulco, Mexico, who loses much of her family to a murderous...

FILE - In this Jan. 10, 2020, file photo trader Gregory Rowe works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Friday, Jan. 17 (AP Photo/Richard Drew, File)

Tech, communications stocks push US indexes to more records

Jan. 17, 2020 5:05 PM EST

Wall Street capped a milestone-setting week Friday with a few more as modest gains nudged the major stock indexes to all-time highs. The benchmark S&P 500 index also notched its second-straight weekly gain. Technology stocks powered much of the market's broad gains, along with communication services companies...

FILE - In this Jan. 10, 2020, file photo specialist Meric Greenbaum, center, works at his post on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Jan. 16. (AP Photo/Richard Drew, File)

Global stocks inspired by US rally, hopes for Chinese growth

Jan. 17, 2020 7:54 AM EST

Global stocks rose Friday, seemingly buoyed by high spirits on Wall Street, as new data suggested China's economic slowdown may have stabilized and Washington and Beijing signed a trade deal. European indexes were broadly higher, while markets in Shanghai, Tokyo and Hong Kong closed with gains, after the U.S.'s...

FILE - This Wednesday, Feb. 24, 2010 file photo shows an Old Navy Store in Paramus, N.J. On Thursday, Jan. 16, 2020, Gap Inc. says it no longer intends to spin off Old Navy as a separate entity after determining it would be too costly and complex, especially given the retailer's recent struggles. (AP Photo/Seth Wenig)

Gap dumps plans to spin off Old Navy as a separate entity

Jan. 16, 2020 6:11 PM EST

NEW YORK (AP) — Gap Inc. says it no longer intends to spin off Old Navy as a separate public company. The retailer said Thursday that its board scuttled the move after determining it would be too costly and complex, especially given the company's recent struggles. Its stock was up about 5% in after-hours...

FILE - In this Nov. 27, 2019, file photo Robin Hazal shops at a Kohl's ahead of Black Friday in Las Vegas. The nation's largest retail trade group said Thursday, Jan. 16, 2020, that holiday sales increased 4.1%, near the top end of its forecast. (AP Photo/John Locher)

Nation's largest retail trade group: holiday sales rose 4.1%

Jan. 16, 2020 12:32 PM EST

NEW YORK (AP) — The nation's largest retail trade group says holiday sales increased 4.1%, the top end of its forecast. The National Retail Federation had expected growth in a range of 3.8% to 4.2% for the November and December period. The growth is nearly double the 2.1% growth seen during the holiday...

In this Jan. 9, 2020, photo pick-up trucks are lined up for sale on the sales lot at Betley Chevrolet dealership in Derry, N.H. On Thursday, Jan. 16, the Commerce Department releases U.S. retail sales data for December. (AP Photo/Charles Krupa)

Confident consumers lift US retail sales in December

Jan. 16, 2020 9:32 AM EST

WASHINGTON (AP) — U.S. retail sales rose at a solid pace last month, evidence that Americans were willing to spend during the winter holidays after a sluggish November. The Commerce Department said Thursday that retail sales increased 0.3% in December from the previous month. Excluding sales at car dealers...

US shoppers lift retail sales a solid 0.3% last month after sluggish start to holidays

Jan. 16, 2020 8:32 AM EST
WASHINGTON (AP) — US shoppers lift retail sales a solid 0.3% last month after sluggish start to holidays.
FILE - In this May 25, 2016 file photo, Uniqlo chief executive Tadashi Yanai speaks to the media in Tokyo. The University of California, Los Angeles has received a $25 million donation from Tadashi Yanai, the founder and CEO of Japanese clothing giant Uniqlo, the school announced Wednesday, Jan. 15, 2020. The money will endow a center named for Yanai devoted to the study of Japanese literature, language and culture, the university said in a statement.(AP Photo/Koji Sasahara)

UCLA receives $25M gift from head of Japanese retail giant

Jan. 15, 2020 1:50 PM EST

LOS ANGELES (AP) — The University of California, Los Angeles has received a $25 million donation from Tadashi Yanai, the founder and CEO of Japanese clothing giant Uniqlo, the school announced Wednesday. The money will endow a center named for Yanai devoted to the study of Japanese literature, language and...

FILE- In this Nov. 23, 2018, file photo shoppers browse the aisles during a Black Friday sale at a Target store in Newport, Ky. Comparable stores sales at Target fell well below the previous year, joining a growing list of retailers reporting a meager performances during the critical holiday shopping season. Target said Wednesday, Jan. 15, 2020, that it had weaker-than-expected sales of electronics, toys and some home good. Those sales climbed 1.4% in the November-December period, compared with a 5.7% increase a year earlier.  (AP Photo/John Minchillo, File)

Target, like other retailers, did not have a Merry Christmas

Jan. 15, 2020 1:06 PM EST

Target reported a rare shortfall in holiday sales, raising concerns about the challenges ahead for the traditional retail industry even as the economy remains strong. Target's disappointing growth of 1.4% percent for November and December, dragged down by toys and electronics, fell well below the previous year....