Many U.S. retailers are hoping to put the fall quarter behind them. The decisive outcome of this month’s presidential election, which showed a GOP sweep, seems to be giving them the fuel to do so. On Tuesday, Best Buy reported one of its worst three-month stretches of the past decade, something CEO Corie Barry blamed […]Read More

Amazon workers in more than 20 countries, including the United States and the United Kingdom, plan to hold protests or go on strike between Black Friday and Cyber Monday, two of the marquee shopping promotions of the year, according to organizers. The planned “Make Amazon Pay” demonstrations are intended to “hold Amazon accountable for labor […]Read More

Abercrombie & Fitch isn’t giving up its crown anytime soon.  The apparel company issued strong holiday guidance on Tuesday after posting its sixth straight quarter of double-digit sales growth and another quarter of results that topped expectations. The recent arrest of the company’s former CEO, Mike Jeffries, on charges of sex trafficking did not appear to affect results. Here’s […]Read More

Kohl’s is getting a new CEO, its third since 2018. The off-mall department store’s current CEO Tom Kingsbury is stepping down effective Jan. 15. He will leave the position he held first on an interim basis starting in late 2022, and then permanently since early 2023. Michaels CEO Ashley Buchanan will take over the top job […]Read More

Kenneth Leech, the former co-chief investment officer of Western Asset Management Co, was charged by U.S. authorities on Monday with running a fraudulent “cherry-picking” scheme where he improperly favored some clients’ accounts over others when allocating trades. The U.S. Securities and Exchange Commission said that between January 2021 and October 2023, Leech disproportionately allocated better […]Read More

Walmart on Monday confirmed that it’s ending some of its diversity initiatives, removing some LGBTQ-related merchandise from its website and winding down a nonprofit that funded programs for minorities. The nation’s largest employer, which has about 1.6 million U.S. workers, joined a growing list of companies that have stepped back from diversity, equity and inclusion efforts […]Read More

Spanish retailer Mango is embarking on a bold expansion plan in the U.S. as it looks to shed its fast-fashion image and position itself as a premium brand.   The privately held company, headquartered in Barcelona, plans to open 42 new storefronts in the U.S. by the end of the year and aims to launch 20 […]Read More

A federal judge said Monday he may hold an evidentiary hearing next month to help determine whether to approve the sale of conspiracy theorist Alex Jones’ media company to satirical publication The Onion. Bankruptcy Judge Christopher Lopez in Houston clarified the sale, which comes after a Nov. 13 auction, remains in limbo until such a […]Read More

Macy’s on Monday said an employee responsible for managing accounting for small package deliveries concealed up to $154 million in expenses over the course of nearly three years. The person who allegedly hid the money is no longer with the company, the department store operator said Monday morning, ahead of its third-quarter earnings report. The […]Read More

California Gov. Gavin Newsom said the state will provide rebates to residents if President-elect Donald Trump’s incoming administration does away with a federal tax credit for electric vehicles. In a news release issued Monday, Newsom said he would restart the state’s Clean Vehicle Rebate Program, which provided financial incentives on more than 590,000 vehicles before […]Read More