WEATHER ALERT
Best Buy posts another quarterly sales drop while Kohl's sees slump deepen
Read full article: Best Buy posts another quarterly sales drop while Kohl's sees slump deepenBest Buy, the nation’s largest consumer electronics chain, reported another quarterly drop in sales as Americans continued to tighten their purse strings on appliances and gadgets to focus on essentials.
Amazon says in a federal lawsuit that the NLRB's structure is unconstitutional
Read full article: Amazon says in a federal lawsuit that the NLRB's structure is unconstitutionalAmazon is challenging the structure of the National Labor Relations Board in a lawsuit that also accuses the agency of improperly influencing the outcome of a union election at a company warehouse more than two years ago.
Best Buy reports another drop in quarterly sales amid cautious buying but business is stabilizing
Read full article: Best Buy reports another drop in quarterly sales amid cautious buying but business is stabilizingBest Buy, the nation’s largest consumer electronics chain, reported another quarterly drop in sales due to Americans pulling back on purchases of appliances and consumer-electronics gadgets to focus on essentials.
Best Buy and Kohl's extends streak of quarterly sales slumps as Americans focus on the essentials
Read full article: Best Buy and Kohl's extends streak of quarterly sales slumps as Americans focus on the essentialsThe earnings results from Best Buy and Kohl’s, announced Thursday, offer the latest evidence of consumers’ cautious spending amid a challenging economic environment.
Orlando man accused of stealing over $100K in Best Buy merchandise during statewide spree
Read full article: Orlando man accused of stealing over $100K in Best Buy merchandise during statewide spreeAn Orlando man booked in Brevard County is accused of stealing some $118,413.45 in merchandise from Best Buy stores across the state in a crime spree lasting the better part of a year, according to investigators.
Best Buy's shares up after chain posts smaller-than expected sales decline for 4Q
Read full article: Best Buy's shares up after chain posts smaller-than expected sales decline for 4QBest Buy’s shares rose on Thursday as the nation’s largest consumer electronics chain posted a smaller-than-expected sales decline for the fiscal fourth quarter, signaling that the bottom of spending for gadgets may be in sight.
American consumers more confident in November as holiday shopping season kicks into high gear
Read full article: American consumers more confident in November as holiday shopping season kicks into high gearAmerican consumers are feeling slightly more confident this month as the all-important holiday shopping season kicks into high gear.
Retailers are ready to kick off Black Friday just as shoppers pull back on spending
Read full article: Retailers are ready to kick off Black Friday just as shoppers pull back on spendingRetailers are kicking off the unofficial start of the holiday shopping season on Friday with a bevy of discounts and other enticements.
Best Buy recalls nearly 1 million pressure cookers after reports of 17 burn injuries
Read full article: Best Buy recalls nearly 1 million pressure cookers after reports of 17 burn injuriesBest Buy is recalling nearly 1 million pressure cookers and separate inner pots due to a defect that can cause hot foods to spew out, posing burn hazards.
Quarterly results from Best Buy, Ralph Lauren and Dollar Tree show divergence in consumer spending
Read full article: Quarterly results from Best Buy, Ralph Lauren and Dollar Tree show divergence in consumer spendingAs inflation on necessities like groceries remains stubbornly high, the well-heeled consumer appears to still be spending, while the lower-income shopper continues to cut back their purchases, according to the latest batch of earnings reports.
Macy's, Best Buy 4Q reports underscore consumer slowdown
Read full article: Macy's, Best Buy 4Q reports underscore consumer slowdownThe latest earnings reports from Macy’s and Best Buy show that consumers are still cutting back their spending on clothing and gadgets as inflationary pressures on everything from food to gas are straining household budgets.
Delivery driver guilty of beating Florida woman to death, setting her on fire
Read full article: Delivery driver guilty of beating Florida woman to death, setting her on fireAn appliance delivery man has been convicted of beating a 75-year-old woman to death and setting her on fire at her Florida home.
Best Buy Q2 results fall amid softening demand for gadgets
Read full article: Best Buy Q2 results fall amid softening demand for gadgetsBest Buy posted declines in fiscal second-quarter profits and sales as the nation’s largest consumer electronics chain struggled with weakening consumer demand for gadgets and high costs that rippled through its supply chain.
GE recalls 6 refrigerator models sold nationwide after 37 reported injuries
Read full article: GE recalls 6 refrigerator models sold nationwide after 37 reported injuriesGE Appliances is recalling six refrigerator models sold at stores nationwide after 37 injuries were reported, according to a CBS News report.
Best Buy reports Q4 sales miss hurt by supply chain clogs
Read full article: Best Buy reports Q4 sales miss hurt by supply chain clogsBest Buy reported a shortfall in sales for the holiday quarter as the nation’s largest electronics chain struggled with limited supplies of holiday products and was forced to reduce store hours because of a shortage of workers due to omicron.
Consumer prices up 5.7% over past year, fastest in 39 years
Read full article: Consumer prices up 5.7% over past year, fastest in 39 yearsU.S. consumer prices rose 5.7% over the past year, the fastest pace in 39 years as a surge in inflation battered Americans as the holiday shopping season was getting under way.
Holiday trends to watch: Adult Play-Doh; stores that ship
Read full article: Holiday trends to watch: Adult Play-Doh; stores that ship(AP Photo/Craig Ruttle)NEW YORK – The pandemic is turning this into a holiday shopping season like no other. And with more people shopping online, stores are doing double duty as shipping centers to try to get gifts to doorsteps as fast as possible. Meanwhile, Best Buy says that 340 of its stores are being specially designated to handle a higher volume of online orders, though all its stores ship e-commerce packages. Its goal: to have the 340 stores ship more than 70% of its ship-from-store units during the holiday quarter. Typically, 25% of holiday shopping is based on impulse, according to Marshal Cohen, chief industry advisor at NPD Group, a market research firm.
Retail sales grew a slower-than-expected 0.3% in October
Read full article: Retail sales grew a slower-than-expected 0.3% in OctoberNEW YORK – Retail sales in the U.S. grew a sluggish 0.3% in October, even as retailers offered early holiday discounts online and in stores. October's growth was much smaller than in September, when it rose 1.6%, according to the U.S. Commerce Department. It as hoped that retailers would be able to entice Americans who to get a jumpstart holiday shopping and avoid crowds. Online shopping sales rose 3.1% last month, the Commerce Department said. But at clothing stores and sporting good shops, sales fell more than 4%.
Pandemic pushes start of holiday shopping earlier than ever
Read full article: Pandemic pushes start of holiday shopping earlier than ever(AP Photo/David Zalubowski)NEW YORK – Add last-minute holiday shopping to the list of time-honored traditions being upended by the coronavirus pandemic. Black Friday has long been the unofficial start to the U.S. holiday season, though retailers have been pushing holiday shopping earlier for the last decade or so. The first big holiday push will come from Amazon, which is positioning its mid-October Prime Day as a kickoff to the holiday shopping season. Even with the early start to the season, holiday sales are expected to deliver smaller gains than in recent years. Joel Bines, who runs the retail practice at AlixPartners, thinks the earlier shopping will stick even when the pandemic is over.
Businesses weigh reopening - or close again - as cases rise
Read full article: Businesses weigh reopening - or close again - as cases riseBusinesses reopening across states after months of shutdown have been met with fanfare. Its not the reopening businesses were hoping for. Apple, which started reopening its stores May 11, has closed at least 32 stores in hot spots like Florida and Texas. Some businesses have been requiring customers and employees to sign a waiver saying they wont sue if they get sick. Adam Orman, who runs LOca dOro Italian restaurant in Austin, Texas, may delay a planned July 30 reopening for outdoor seating.
US consumer spending up 8.2%, partly erasing record plunge
Read full article: US consumer spending up 8.2%, partly erasing record plunge(AP Photo/Jim Mone)WASHINGTON American consumers increased their spending by a sharp 8.2% in May, partly erasing record plunges the previous two months, against the backdrop of an economy thats likely shrinking by its steepest pace on record this quarter. In May, those stimulus checks were no longer counted as income for most people. Besides whatever unemployment aid states are providing to the 30 million jobless Americans, the federal government is providing $600 a week in additional benefits. Without the stimulus checks or an extension of unemployment aid, it's unclear whether consumers will keep spending freely. It shows that consumers have gradually but consistently increased their spending since the government distributed the stimulus checks in mid-April.
Millennial Money: Secrets of a Black Friday Shopper
Read full article: Millennial Money: Secrets of a Black Friday ShopperFILE - In this Nov. 22, 2018, file photo people wait in line in front of an adjacent pet store for a Best Buy store to open for an early Black Friday sale on Thanksgiving Day in Overland Park, Kan. Black Friday is Nov. 29, 2019, but it might as well be the whole month of November. (AP Photo/Charlie Riedel, File)
Millennial Money: Secrets of a Black Friday Shopper
Read full article: Millennial Money: Secrets of a Black Friday ShopperSome people cringe at the thought of shopping on Thanksgiving or Black Friday, but I revel in it. You can snag savings throughout November, but despite early deals, retailers like Walmart, Target and Best Buy reserve some of their best bargains for Thanksgiving Day and Black Friday. Retailers like Amazon, Best Buy and Kohl's have done this in the past. Years prior, I stood in a two-hour line at Best Buy to purchase a single TV. Select the best deals and stick to those items.