President Trump heralds holiday retail sales growth, congratulates America

U.S. 12/26/19, 05:02

U.S. holiday shopping season got a boost from record online sales, and President Donald Trump took the chance to congratulate the nation on Christmas Day. “2019 HOLIDAY RETAIL SALES WERE UP 3.4% FROM LAST YEAR, THE BIGGEST NUMBER IN U.S. HISTORY. CONGRATULATIONS AMERICA!” the president tweeted on Wednesday, Dec. 25. 2019 HOLIDAY ...

US-China trade dispute weighing on retail sector

Business 05/30/19, 07:53

Pressure from the trade dispute between the U.S. and China is weighing on the retail sector, with shares of many in the industry falling in premarket trading on Thursday. Retailers have seen their shares seesaw this week as they express concern over tariffs squeezing their businesses. The latest is PVH Corp., ...

US retail sales continue rocky ride, slip 0.2% in April

Business 05/15/19, 08:32

U.S. retail sales declined last month as Americans cut back their spending on clothes, appliances, and home and garden supplies.Sales dropped 0.2% in April, the Commerce Department said Wednesday, after a big 1.7% jump in March. Car sales dropped 1.1% last month and sales at electronics and appliance stores dropped ...

China’s factory output, retail sales weaken amid tariff war

Business 05/14/19, 23:30

China's factory output and consumer spending weakened in April as a tariff war with Washington intensified. Wednesday's data prompted suggestions Beijing will need to prop up economic growth with more government spending. Government data showed growth in factory output decelerated to 5.4 percent over a year earlier from March's 8.5 percent growth. Growth ...

US stock indexes head mostly lower on mixed company earnings

Business 04/18/19, 09:40

U.S. stock indexes moved mostly lower in early trading Thursday as investors weighed the latest batch of company earnings.Losses in health care, technology and financial stocks outweighed gains in industrial companies and elsewhere in the market.Drugmaker Pfizer fell 2.9%, PayPal dropped 2.8% and Regions Financial slid 3.1%.Industrial sector stocks led ...

US retail sales soared 1.6% in March

Business 04/18/19, 07:33

U.S. retail sales surged in March at the fastest pace since late 2017, as spending on autos, gasoline, furniture and clothing jumped.The Commerce Department says that sales increased a seasonally adjusted 1.6% from February, the strongest increase since September 2017.The gains mark a sharp rebound from a lackluster period of ...

Mainstream retailers embrace CBD despite murky status

U.S. 04/15/19, 00:46

Mainstream retailers are leaping into the world of products like skin creams and oils that tout such benefits as reducing anxiety and helping you sleep.The key ingredient? CBD, or cannabidiol, a compound derived from hemp and marijuana that doesn't cause a high.Retailers are taking advantage of the booming industry even ...

US retail sales declined 0.2 percent in February

Business 04/01/19, 08:36

U.S. retail sales fell in February, as consumers pulled back their spending on building materials, groceries, furniture, electronics and clothing declined amid signs of a slowing economy. The Commerce Department said Monday that retail sales fell 0.2 percent in February, after posting an upwardly revised gain 0.7 percent in January. Over ...

NY Gov. Cuomo: No quick vote on legal marijuana

New York 03/11/19, 13:29

Gov. Andrew Cuomo said Monday he's "no longer confident" an agreement to legalize recreational marijuana in New York will be included in the state budget that's due by April 1, raising the possibility that approval of retail sales of pot won't get passed by the Legislature this year. The Democrat told ...

Markets Right Now: Stocks open higher, but Boeing sinks Dow

Business 03/11/19, 08:56

The latest on developments in financial markets (all times local):9:40 a.m.Stocks are opening broadly higher on Wall Street, although a sharp drop in Boeing is pushing the Dow Jones Industrial Average lower.Boeing fell 12 percent after the second deadly crash in six months involving one of its new 737 Max ...

US retail sales up just 0.2 pct. as consumers stay cautious

Business 03/11/19, 07:36

U.S. retail sales rose slightly in January after a sharp drop in December, reflecting caution taken by consumers amid a government shutdown and volatile stock market.The Commerce Department said Monday that retail sales increased just 0.2 percent, after a sharp fall of 1.6 percent in December, the biggest drop in ...

A very merry Christmas at Best Buy with sales booming

Business 02/27/19, 08:10

Best Buy is reporting big holiday sales numbers, more evidence that Americans are willing and able to spend.A dire report from the U.S. Commerce Department this month on retail sales cast a pall over the sector, raising concerns that an extended period of elevated consumer confidence had ended abruptly. ...

Asian stocks slip on Wall Street leads as trade talks simmer

Business 02/15/19, 01:35

Asian shares were broadly lower on Friday, tracking a weak Wall Street session as traders awaited the conclusion of U.S.-China talks in Beijing. Japan's benchmark Nikkei 225 retreated 1.1 percent to 20,900.63 and the Kospi in South Korea tumbled 1.4 percent to 2,195.07. Hong Kong's Hang Seng gave up 1.8 percent ...

Asian stocks slip on Wall Street leads as trade talks simmer

Business 02/14/19, 23:47

Asian shares were broadly lower on Friday, tracking a weak Wall Street session as traders awaited the conclusion of U.S.-China talks in Beijing. Japan's benchmark Nikkei 225 retreated 1.2 percent to 20,886.27 and the Kospi in South Korea tumbled 1.6 percent to 2,189.50. Hong Kong's Hang Seng gave up 1.5 percent ...

National Retail Group: holiday sales fell short

Business 02/14/19, 12:48

The National Retail Federation, the nation's largest retail trade group, said that holiday sales increased a lower-than-expected 2.9 percent as worries about the trade war with China, the government shutdown and stock market turmoil dampened shopper spending in December.The figures, released Thursday, come after the Commerce Department announced weak December ...

Humbug holidays: US retail sales drop 1.2 pct. in December

Business 02/14/19, 09:01

U.S. retail sales fell in December, posting the biggest drop since September 2009 and delivering more evidence that last year's holiday sales fizzled unexpectedly. Even e-commerce suffered a big setback.The Commerce Department said Thursday that December retail sales dropped 1.2 percent from November. They were up 2.3 percent from December ...

Retail group forecasts solid retail sales growth for 2019

Business 02/05/19, 13:43

The National Retail Federation, the nation's largest retail trade group, forecasts that retail sales should grow between 3.8 percent and 4.4 percent to more than $3.8 trillion this year as shoppers remain in the mood to spend in a strong economy and job market.The forecast, released Tuesday, is nearly in ...

California lawmakers seek tax cuts for sluggish pot industry

California 01/28/19, 16:31

A group of Democratic state lawmakers and one Republican colleague on Monday proposed slashing taxes to jump-start California's sluggish legal marijuana marketplace.Democratic Assemblyman Rob Bonta of Oakland, Democratic state Treasurer Fiona Ma and three other Assembly members said at a news conference that the state's year-old legal marijuana marketplace is ...

How’s the US economy doing? Shutdown makes it harder to say

Business 01/11/19, 07:21

The partial shutdown of the U.S. government has begun to make it harder to assess the health of the economy by delaying or distorting key reports on growth, spending and hiring. Government data on home construction and retail sales, for example, won't be released next week because staffers who compile those ...

US retailers hope higher pay will buy more efficient workers

Business 12/29/18, 10:32

America's retailers, struggling to fill jobs, have been raising pay to try to keep and attract enough employees. Now, some stores want something in return: A more efficient worker.To that end, retailers, fast food restaurants and other lower-wage employers are boosting investment in technology and redesigning stores. Walmart is automating ...

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