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Self-made billionaire attributes his success to one particular competitive trait


Created: Thu, 09 Apr 2020 02:21:27 GMT

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Razer's co-founder and CEO, Min-Liang Tan, attributes the growth of his multimillion-dollar business to his gamer mentality.

Read more: Self-made billionaire attributes his success to one particular competitive trait


Luckin Coffee's stock has been halted for pending news since Tuesday


Created: Wed, 08 Apr 2020 21:09:36 GMT

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Luckin Coffee's stock has been halted for pending news since Tuesday morning.

Read more: Luckin Coffee's stock has been halted for pending news since Tuesday


As coronavirus spread to the US, Clorox shares soared


Created: Wed, 08 Apr 2020 20:46:03 GMT

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Clorox shares soared in the first few months of 2020 as the new coronavirus spread throughout the U.S. The company had seen a spike in sales of its disinfecting wipes and other cleaning products, and investors felt it was a safe bet in an uncertain time.

Read more: As coronavirus spread to the US, Clorox shares soared


Nordstrom warns financial situation could become distressed because of coronavirus-related store closures


Created: Wed, 08 Apr 2020 16:42:52 GMT

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Nordstrom said its financial situation could become distressed if its stores stay dark for much longer because of COVID-19.

Read more: Nordstrom warns financial situation could become distressed because of coronavirus-related store closures


Coronavirus could spell doom for fashion brands as demand and money dry up


Created: Wed, 08 Apr 2020 15:59:32 GMT

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Fashion brands rely on sales in department stores to pay their bills. Demand for new product has disappeared, as major retail chains shuttered their stores amid the coronavirus pandemic.

Read more: Coronavirus could spell doom for fashion brands as demand and money dry up


Calvin Klein owner: 'Retail companies are not built to have their stores closed'


Created: Wed, 08 Apr 2020 13:37:28 GMT

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With stores closed, the retail industry is struggling with inventory piling up in warehouses and no place to sell it, PVH CEO Manny Chirico said.

Read more: Calvin Klein owner: 'Retail companies are not built to have their stores closed'


Panera Bread is selling groceries as restaurant sales plummet


Created: Wed, 08 Apr 2020 16:14:06 GMT

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Panera Bread is selling groceries as housebound consumers eat fewer meals from restaurants.

Read more: Panera Bread is selling groceries as restaurant sales plummet


Teen spending takes a dive: Guys splurge on footwear, while a natural look for girls hurts makeup sales


Created: Wed, 08 Apr 2020 08:01:01 GMT

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While Gen Z's total spending is down sharply, when they do go shopping, brands like Nike, Lululemon and Amazon are top on the list. Often, that's after they've stopped at Chik-fil-A or Starbucks to fuel up.

Read more: Teen spending takes a dive: Guys splurge on footwear, while a natural look for girls hurts makeup sales


Levi Strauss CEO Chip Bergh: Coronavirus pandemic will separate retail's winners and losers


Created: Tue, 07 Apr 2020 23:02:43 GMT

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Levi Strauss, which has been around for 167 years, is going to use COVID-19 "as an opportunity to come out stronger on the other side," CEO Chip Bergh tells CNBC.

Read more: Levi Strauss CEO Chip Bergh: Coronavirus pandemic will separate retail's winners and losers


Shopping center owner Kimco is trying to help its smaller tenants pay rent, stay in business


Created: Tue, 07 Apr 2020 18:48:40 GMT

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Shopping center owner Kimco Realty has taken matters into its own hands to try to help small-business owners get access to funds that can help them pay rents.

Read more: Shopping center owner Kimco is trying to help its smaller tenants pay rent, stay in business


Costco vs. Walmart: Trader says one could be a better big-box pick


Created: Tue, 07 Apr 2020 15:45:07 GMT

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Costco and Walmart shares are higher for the year. Though both have broken out, Oppenheimer's head of technical analysis, Ari Wald, says one has the edge over the other here.

Read more: Costco vs. Walmart: Trader says one could be a better big-box pick


Darden stock jumps as Olive Garden parent cuts executive pay, to-go sales skyrocket


Created: Tue, 07 Apr 2020 17:43:11 GMT

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Darden Restaurants said Tuesday that it is furloughing some restaurant support center employees and slashing executive pay as same-store sales plummet 39% so far in the fiscal fourth quarter.

Read more: Darden stock jumps as Olive Garden parent cuts executive pay, to-go sales skyrocket


Walgreens to open 15 drive-thru testing sites for the coronavirus across 7 states


Created: Tue, 07 Apr 2020 16:38:48 GMT

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The pharmacy chain says the new sites will use Abbott Laboratories' rapid testing technology and will be open to members of the public who are showing symptoms of COVID-19.

Read more: Walgreens to open 15 drive-thru testing sites for the coronavirus across 7 states


Macy's CFO Paula Price to depart in May


Created: Tue, 07 Apr 2020 11:15:01 GMT

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"We will continue to take all necessary actions to ensure that Macy's, Inc. emerges from this pandemic on solid footing and ready to serve our customers," Macy's CEO Jeff Gennette said in a statement.

Read more: Macy's CFO Paula Price to depart in May


How this self-made billionaire built a pandemic-proof business


Created: Tue, 07 Apr 2020 05:48:24 GMT

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When the #stayathome hashtag emerged on social media last month in response to successive governments' coronavirus containment measures, Razer's Min-Liang Tan was ready.

Read more: How this self-made billionaire built a pandemic-proof business


After a frenzied rush to file for small business loans, entrepreneurs nervously wait on bank approvals


Created: Tue, 07 Apr 2020 21:00:31 GMT

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As the government's $350 billion loan program gets underway, small business owners are anxiously awaiting notice from their lenders about loan approvals.

Read more: After a frenzied rush to file for small business loans, entrepreneurs nervously wait on bank approvals


From chew toys to medical masks: Montana's hardest hit county fights back against coronavirus


Created: Mon, 06 Apr 2020 22:16:13 GMT

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The need to help protect local doctors and nurses, and their patients, has inspired a brigade of volunteers in Bozeman, Montana, to take action and start making professional-grade medical masks.

Read more: From chew toys to medical masks: Montana's hardest hit county fights back against coronavirus


Billionaire mall owner: Retailers will need to adapt to consumer shifts from the coronavirus


Created: Mon, 06 Apr 2020 21:15:52 GMT

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"I think the winners are going to be very connected. They're going to be curated. They're going to feel more local," billionaire mall owner Rick Caruso told CNBC.

Read more: Billionaire mall owner: Retailers will need to adapt to consumer shifts from the coronavirus


Walmart employee's family files wrongful death lawsuit after man dies of coronavirus complications


Created: Mon, 06 Apr 2020 21:00:58 GMT

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The family of the Walmart employee, Wando Evans, says the 51-year-old told his store managers he had symptoms of COVID-19, but was ignored.

Read more: Walmart employee's family files wrongful death lawsuit after man dies of coronavirus complications


Mall owners worried over mortgage payments as retailers skip rent


Created: Mon, 06 Apr 2020 20:06:32 GMT

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Retailers are worried about paying rent. And that has mall owners increasingly worried about meeting their own obligations.

Read more: Mall owners worried over mortgage payments as retailers skip rent


Stalled by coronavirus pandemic, American Dream rethinks its future and retail becomes an afterthought


Created: Mon, 06 Apr 2020 19:41:07 GMT

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It is becoming even harder to call American Dream a megamall. Retail is becoming even more of an afterthought.

Read more: Stalled by coronavirus pandemic, American Dream rethinks its future and retail becomes an afterthought


Wayfair shares surge 37% as coronavirus drives sales of office furniture and home decor


Created: Mon, 06 Apr 2020 16:59:30 GMT

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Wayfair said that when it entered March, gross revenue growth was just under 20%, similar to trends during January and February. But by the end of the month, it said growth more than doubled. Wayfair said the trend has persisted into April.

Read more: Wayfair shares surge 37% as coronavirus drives sales of office furniture and home decor


Howard Schultz warns 30% of small businesses at risk of closing for good without more help


Created: Mon, 06 Apr 2020 17:26:59 GMT

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"We must not only flatten the curve of the health crisis but we must begin to flatten the curve of economic despair," the billionaire former Starbucks CEO said Monday.

Read more: Howard Schultz warns 30% of small businesses at risk of closing for good without more help


Tyson Foods deploys walk-through temperature scanners at three US sites that help feed millions


Created: Mon, 06 Apr 2020 17:42:54 GMT

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A single Tyson Foods plant in Nebraska produces enough food every day to feed 18 million people.

Read more: Tyson Foods deploys walk-through temperature scanners at three US sites that help feed millions


Overburdened funeral directors look for ways to comfort mourners as coronavirus claims more lives


Created: Mon, 06 Apr 2020 20:20:55 GMT

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Funeral homes are at risk of being overburdend and lacking proper medical supplies because of the coronavirus pandemic.

Read more: Overburdened funeral directors look for ways to comfort mourners as coronavirus claims more lives


Gun owners say rifles still malfunction after Remington class-action settlement repairs


Created: Mon, 06 Apr 2020 15:56:04 GMT

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With gun sales surging in the COVID-19 crisis, owners of one of the world's most popular rifles are facing new questions about whether their guns are safe.

Read more: Gun owners say rifles still malfunction after Remington class-action settlement repairs


CVS launches drive-thru rapid testing in Rhode Island and Georgia


Created: Mon, 06 Apr 2020 13:16:37 GMT

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CVS Health said it hopes to perform up to 1,000 tests per day.

Read more: CVS launches drive-thru rapid testing in Rhode Island and Georgia


Coronavirus hits commercial real estate in the UK as retailers fall behind on rent


Created: Mon, 06 Apr 2020 11:00:41 GMT

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The coronavirus pandemic is hitting U.K. commercial property hard, as retailers close for an indefinite period and shoppers remain locked down at home.

Read more: Coronavirus hits commercial real estate in the UK as retailers fall behind on rent


Demand for jigsaw puzzles is surging as coronavirus keeps millions of Americans indoors


Created: Mon, 06 Apr 2020 14:12:53 GMT

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One game maker has seen U.S. puzzle sales soar 370% year over year in the past two weeks.

Read more: Demand for jigsaw puzzles is surging as coronavirus keeps millions of Americans indoors


Coronavirus effect: Bankruptcies won't save retail this time


Created: Sun, 05 Apr 2020 18:10:02 GMT

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For retailers, facing an apocalypse isn't anything new. What's new is the fact that everyone else is too. With everyone in duress, those with the ability to pull the trigger that could put a retailer into bankruptcy have become more gun shy.

Read more: Coronavirus effect: Bankruptcies won't save retail this time

 
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