Apparel store sales were the worst on record in April when Signet Jewelers, a billion-dollar jewelry chain, and ANTHOM, a modest boutique in New York City, made last-ditch shifts to e-commerce. But only one is turning the lights back on. It’s far from the classic winners and losers story. In […]
U.S. employers shed 20.5 million jobs in April, the worst monthly loss in history, underscoring how intensely the coronavirus crisis disemboweled the U.S. economy and upended American lives at the height of the pandemic. The drop wasn’t as steep as the consensus among economists. Still, the Labor Department’s report indicates […]
The Commerce Department releases its headline retail sales report on Wednesday. Economists expect the data from March to show significant drops across most categories as much of the country faced stay-at-home orders midmonth due to the ongoing COVID-19 crisis. With the virus economy rattling nonessential businesses and online grocery orders […]
Consumer spending at brick and mortar retailers was on shaky ground well before the coronavirus pandemic forced stores in the U.S. to shutter doors and alter operating hours to curb the outbreak. The Commerce Department’s latest retail sales report spotlights the weakening sector as shoppers were reluctant to open their […]
U.S. consumer spending rose modestly in January, lifted by an increase in purchases of autos, while underlying sales remain worrisome. Overall retail sales increased 0.3% last month, the Commerce Department said Friday. The slight uptick was consistent with economists’ estimates. Core retail sales — a measure that excludes volatile categories like […]