MAGICTECHNEWS.COM: World and US News

World and US News: Retail

01:02, 2019-08-18

The often-hated open floor plan gets a new savior: The office pod In recent years, pods have been embraced in offices across the nation. They provide a quiet space for office workers to conduct important phone calls...
00:51, 2019-08-18

This is what's behind Walmart's staying power that could outmaneuver Amazon For 20 years Walmart has struggled to pull its online act together while Amazon.com seized nearly half of the US online shopping market. But Walmart&...
18:34, 2019-08-16

Cramer: Retail is getting hammered, but it's an opportunity to buy Revolve Revolve Group is "part of the reason why Macy's is getting obliterated ... disrupting what's left of the department stores, and it is worki...
07:17, 2019-08-15

Versace, Givenchy and Coach say sorry over Chinese T-shirt anger American fashion brand Coach, French label Givenchy and Italian luxury brand Versace have been boycotted by some Chinese social media stars for sugge...
14:17, 2019-08-12

5 things to know before the stock market opens Monday Dow set to drop, 10-year yield back under 1.7%, Goldman lowers growth forecast, Hong Kong protests escalate, BlackRock buys major stake in Sports Ill...
14:17, 2019-08-12

Man in body armor and armed with rifle sparks panic at Walmart in Missouri An armed man who walked into a Walmart store in Missouri dressed in body armor and fatigues and was detained at gunpoint by an off-duty firefighter i...
00:34, 2019-08-10

Why Best Buy thrives in the US but died in the UK In the U.S., Best Buy is a rare success story in what has otherwise been a brutal past decade for many brick-and-mortar retailers. But in 2010, the c...
23:17, 2019-08-06

5 things to know before the stock market opens The Dow is set to bounce; China labeled a "currency manipulator"; mortgage rates hit November 2016 lows, ex-Fed chiefs call for independent central b...
20:51, 2019-08-06

Columbia Sportswear wants sneaker heads to pay attention to its latest shoe On Monday, Columbia Sportswear unveiled a new line of sneaker-boot hybrids, in the outdoor apparel company's first venture into sneaker culture ...
20:51, 2019-08-06

The 90s are back. Here are the companies trying to cash in—and the ones that are failing For years, the fashion world has been riding a wave from the past. Young consumers are turning to the 90s for inspiration, leading to the revival of ...
17:34, 2019-08-03

People are buying digital 'clothes' that aren't real — and they could be the next Instagram hit Digital apparel is no emperor's new clothes fad — in the gaming industry, "skins" and "cosmetics" are a staple item, but virtual fashion is new ...
17:34, 2019-08-02

Bed Bath and Beyond is trying to save itself from extinction Bed Bath and Beyond became a massive homegoods retailer with a decentralized structure and a focus on keeping customers happy. But critics say the on...
17:34, 2019-08-02

Nordstrom family reportedly prepares proposal to increase stake in retailer The Nordstrom family last year aborted talks to take the retailer private after an initial offer of $50 a share was rejected as too low. Shares of th...
22:17, 2019-07-31

Juul co-founder defends company at hearing over its alleged role in teen vaping 'epidemic' Juul co-founder James Monsees defended the company in a hearing Thursday, as lawmakers grilled him over Juul's alleged role in the teen vaping "...
19:00, 2019-07-31

Starbucks shares rise more than 6% on renewed momentum in the US and China Starbucks shares rose by more than 6% in early market trading today after a resounding earnings beat has analysts raising their estimates for the cof...
19:00, 2019-07-31

JC Penney is trying new things to stay afloat. But its stock is below $1, at risk of being delisted. J.C. Penney CEO Jill Soltau is doing what she can to keep the 117-year-old department store chain afloat, even as the retailer's shares trade be...
19:00, 2019-07-31

Starbucks ramps up US delivery with UberEats as Chinese delivery booms As Starbucks ramps up its U.S. delivery program, the global coffee chain is looking to China — its second-largest market — as an example of how deliv...
19:00, 2019-07-31

Diet bars with plus-size orders, 'fake news' shorts: Here's why Forever 21 is forever controversial The fast-fashion retailer is prone to controversy because of a lack of sufficient product review and because of the risks it's willing to take, ...
19:00, 2019-07-31

Flyfishing and kayaking trips help L.L. Bean, Orvis sell more gear and attract more customers Outdoor retail brands are beefing up their adventure programs and branded trips to create new customers and deepen relationships with existing ones b...
19:00, 2019-07-31

Under Armour's North America problem hasn't gone away Under Armour's mixed earnings results on Tuesday called attention to the fact that the brand continues to fight to win more shoppers on its home...
19:00, 2019-07-31

Gap's newest ad campaign attempts to clarify its identity ahead of the Old Navy spinoff Gap's newest ad campaign is a step to focus the retailer's identity, ahead of plans to spin off Old Navy into a separate, publicly traded c...
19:00, 2019-07-31

Procter & Gamble writes down Gillette business but remains confident in its future Despite Procter & Gamble's write-down of its Gillette shaving business, executives said they remain confident about the future of the grooming c...
19:00, 2019-07-31

P&G CEO says US consumer 'remains strong' despite global trade concerns Procter & Gamble's CEO tells CNBC the U.S. consumer "remains strong," after the company reported fiscal fourth-quarter earnings that beat Wall S...
19:00, 2019-07-31

There are signs that a US boom for makeup products is now over L'Oreal, one of the world's largest cosmetics companies, missed estimates for its second-quarter sales growth citing weakness in U.S. deman...
19:00, 2019-07-31

The biggest mall owner in the US could save retailers on the cusp of going out of business Mall owner Simon Property Group on Wednesday said it's considering more opportunities where it would invest in a retailer to help keep it afloat...
19:00, 2019-07-31

Victoria's Secret owner, L Brands, taps law firm to review relationship with Jeffrey Epstein Epstein was arrested earlier this month on an indictment filed by the U.S. Attorney's Office for the Southern District of New York, which charge...
04:34, 2019-07-25

Coca-Cola, PepsiCo break ties with plastic lobbying group amid mounting scrutiny over pollution The beverage giants join other companies like Clorox, Becton Dickinson and Ecolab, which ended memberships with the Plastics Industry Association las...
04:17, 2019-07-24

Nike 'Waffle Shoe' sells for $475,500, becoming the most expensive sneakers ever auctioned The sneakers were purchased by Canadian entrepreneur Miles Nadal, and were part of a collection of 100 of the rarest sneakers ever made that was bein...
04:17, 2019-07-24

Coca-Cola and Pepsi push into energy drinks as soda consumption falls As soda consumption declines in the U.S., Coca-Cola and PepsiCo are trying to leverage the name recognition of their legacy brands to push into energ...
23:51, 2019-07-23

Bed Bath and Beyond to cut 7% of corporate staff, eliminate operating chief role Bed Bath and Beyond announced on Tuesday that as part of its efforts to reduce costs, it will cut its corporate staff by 7% and eliminate the chief o...
20:51, 2019-07-23

Retail stores get a bad rap, as closures pile up. But here's how stores boost online sales A new survey from the International Council of Shopping Centers shows bricks-and-mortar stores clearly offer a boost to online sales, and vice versa....
03:51, 2019-07-23

Home Depot CFO reveals the one millennial homeowner habit that is 'music to our ears' "They've told us through our research, 'We want to work on our house because we think it's a good investment,'" Home Depot CFO Ca...
03:51, 2019-07-23

Missed Amazon Prime Day? You can still find the best back-to-school deals Back-to-school spending this year is forecast to top $80 billion with American families spending between $700 and $1,000 dollars on students. Amazon ...
17:51, 2019-07-19

Fear missing out? Amazon knows it—and uses it to make Prime Day sales Amazon's marketing for its annual Prime Day plays on our fear of missing out on deals and discounts. Experts weigh in on the consumer psychology...
15:51, 2019-07-14

Domino's Pizza faces new threat from delivery apps like UberEats and GrubHub, Morgan Stanley says Domino's built its business around a fleet of drivers who deliver hot pizzas fast. Delivery companies now pose a threat to up to to 25% of Domin...
00:51, 2019-07-12

Amazon reportedly plans to spend $700 million to retrain a third of its US workforce in new skills Amazon.com is expected to announce on Thursday it plans to retrain a third of its U.S. workforce to help its employees move into more advanced jobs o...
13:34, 2019-07-11

American Eagle Outfitters is following rival Abercrombie & Fitch by getting into the CBD business Teen apparel retailer American Eagle Outfitters is following in rival Abercrombie & Fitch's footsteps by getting into the booming CBD business a...
13:34, 2019-07-11

America's 10 most expensive states to live in 2019 These states are the most expensive places to live in America, according to CNBC's 2019 Top States for Business study released Wednesday. CNBC s...
15:17, 2019-07-10

Cramer: Four stocks are putting up a fight against Amazon in retail "In a retail environment dominated by a handful of players ... there are smaller operators that we have found ways to like and win with," Jim Cramer ...
02:51, 2019-07-10

PepsiCo earnings top estimates on strong snack and beverage sales, backs 2019 forecast PepsiCo's second-quarter earnings topped estimates, as healthier snacks and sparkling water helped fuel sales growth and offset a drag from fore...
13:17, 2019-07-09

Nathan's hot dog eating contest offers the frank a rare chance to shine The humble hot dog is a common sight at Fourth of July celebrations, and is an established part of the American diet. But the category has been stagn...
19:00, 2019-07-04

Nike should've done its research on 'Betsy Ross' flag, says Motus One CEO Nike should've anticipated the controversy surrounding the early American flag on the sneakers it has since pulled, and the decision the company...
21:00, 2019-07-03

From saving Chrysler to buying Jeep, here are Iacocca's greatest achievements Lee Iacocca transformed the auto industry during a legendary career that stretched from the birth of the Ford Mustang through the death of American M...
08:17, 2019-07-03

Nike's 'Betsy Ross' sneakers are selling for more than $2,000 on sneaker resale site StockX The "Betsy Ross flag" sneakers will now be hard to come by after Nike reportedly told the retailers it sent them to as part of a celebratory Fourth-o...
17:17, 2019-07-02

Nike pulls sneakers with 'Betsy Ross' American flag after Colin Kaepernick complains Nike pulled sneakers that featured an early American flag after former NFL football player Colin Kaepernick told the company it shouldn't sell a...
11:17, 2019-07-02

Kim Kardashian is renaming her 'Kimono' company after causing an uproar Reality TV star Kim Kardashian said she's going to change the name of her new "Kimono" brand venture after causing an uproar and drawing accusat...
22:00, 2019-07-01

Secondhand luxury retailer The RealReal jumps almost 50% after IPO The shares jumped from an IPO price of $20 apiece Thursday to almost $30 in morning trading on the Nasdaq under the symbol REAL, giving it a prelimin...
19:00, 2019-06-28

JetBlue sues Walmart for trademark infringement over Jetblack service JetBlue Airways has sued Walmart for trademark infringement, after the world's largest retailer began using the name Jetblack for its text-based...
09:00, 2019-06-28

Home Depot CEO says company hopes to cut costs to reduce impact of tariffs on consumer prices Home Depot CEO Craig Menear said the company aims to minimize any impact that potential tariffs will have on customers by cutting costs elsewhere in ...
09:00, 2019-06-28

How to future-proof companies and CEOs: Highlights from CNBC Evolve CNBC recently held Evolve in New York City. Among the highlights: Best Buy chairman Hubert Joly on the secrets to his amazing retail turnaround and T...
23:17, 2019-06-21

Hubert Joly: People said I was 'crazy or suicidal' for taking Best Buy job. Then he turned it around Hubert Joly announced in April he was ceding the chief executive spot to Corie Barry, a move that went into effect earlier this month. Joly will now ...
20:34, 2019-06-19

How the trade war with China could crush California's $2.7 trillion economy and hurt other states The impact of the U.S.-China trade war is greatest in states that export agricultural products, electronics and chemicals directly to China. Californ...
17:17, 2019-06-18

Former Snap exec Imran Khan takes aim at Amazon as retail site Verishop goes live Imran Khan's retail website, Verishop, is going live on Tuesday. It sells a mix of designer apparel, home goods and beauty products from brands ...
14:00, 2019-06-18

Amazon responds to Ocasio-Cortez's claim that it pays warehouse workers 'starvation wages' Amazon responded this morning to Democratic Congresswoman Alexandria Ocasio-Cortez's claim that it pays warehouse workers "starvation wages" in ...
16:00, 2019-06-17

US companies' message to Trump: Don't expand China tariffs Businesses, trade groups, and individuals have written to complain that tariffs would drive up prices for consumers, squeeze profits, and leave U.S. ...
14:51, 2019-06-17

Why Home Depot failed in China In 2006, Home Depot bought the Chinese home improvement company Home Way and its 12 stores in the country. By 2012, Home Depot had totally exited the...
18:17, 2019-06-14

Chewy, PetSmart's online business, soars 77% after pricing at $22 per share Following the IPO, PetSmart will remain majority owner of Chewy. It will use proceeds from the IPO for working capital and general corporate purposes...
17:17, 2019-06-14

MGA Entertainment CEO says Mattel will be bankrupt 'within a year or so' after takeover bid rejected MGA Entertainment CEO Isaac Larian said toymaker Mattel will be bankrupt "shortly, within a year or so" after the rival company rejected MGA's t...
14:34, 2019-06-14

Beyond Meat's stock briefly tumbled after Tyson Foods touts plans to sell plant-based nuggets Shares of Beyond Meat were up slightly Thursday after falling about 4% in premarket trading after Tyson Foods announced plans to launch plant-based n...
19:00, 2019-06-13

LaCroix parent company's stock falls to multiyear low following lawsuit Shares of National Beverage hit their lowest point since 2016 after a former employee filed a lawsuit alleging he was fired after objecting to a plan...
04:51, 2019-06-12

Busiest US port hit by 7th straight month of export declines amid trade war America's top two busiest container ports, the Los Angeles and Long Beach, on Tuesday reported declines in export volumes in May amid an ongoing...
04:51, 2019-06-12

Gary Vaynerchuk: I've seen this side hustle generate up to $100,000 for kids in debt Gary Vaynerchuk, serial entrepreneur turned social media mogul, may be worth $160 million but he still loves a good side hustle. He has witnesses a g...
17:51, 2019-06-11

GrubHub shares jump after Amazon shuts down its restaurant delivery service Shares of online food delivery services GrubHub and Waitr Holdings jumped Tuesday after Amazon said it was shutting down its four-year-old rival serv...
17:51, 2019-06-11

New Best Buy CEO takes the helm Tuesday Best Buy's fifth CEO Corie Barry will lead the company as it continues to execute on plans it has made to stay relevant in a tough retail enviro...
17:51, 2019-06-11

Starbucks is testing a reusable cup program at London's Gatwick Airport Starbucks is launching a reusable cup program at London's Gatwick Airport to offer customers free reusable cups they can drop off throughout the...
06:00, 2019-06-11

Walmart will save $30 million by putting new step stools in its warehouses CEO Doug McMillon said Walmart will save at least $30 million this year by putting lighter-weight step stools in its distribution centers for workers...
18:51, 2019-06-07

Elliott Management reportedly in lead to acquire bookseller Barnes & Noble The retailer said last year it was exploring a sale after having received "expressions of interest" from "multiple parties," including its chairman, ...
21:17, 2019-06-06

Stitch Fix CEO says it's getting better at finding the most valuable customers for its service Shares of Stitch Fix rose nearly 15% Thursday after the online personal styling company reported Wednesday that it beat earnings and sales expectatio...
21:17, 2019-06-06

Beverly Hills votes to outlaw tobacco sales in ordinance believed to be first of its kind in US The Beverly Hills City Council late Tuesday voted to outlaw sales of most tobacco products in a sweeping ordinance that is believed to be the first o...
10:51, 2019-06-05

CVS Health promises double-digit earnings growth by 2022 as it tries to allay investor worries CVS Health tried to allay investor concerns Tuesday over its $70 billion acquisition of health insurer Aetna last year, projecting double-digit growt...
15:51, 2019-06-04

Mexican tariffs would be bad news for denim retailers Mexico is the biggest supplier of men's and boy's jeans to the U.S., representing about 35% of imports, according to the American Apparel &...
17:34, 2019-05-31

CEO Bob Iger doesn't think Disney is too reliant on 'Star Wars' Disney's Bob Iger says the company's $2 billion investment in its new "Star Wars" theme parks will be a boon for the parks and the franchis...
06:51, 2019-05-30

Canada Goose shares are cratering more than 25% on the luxury coat maker's weak sales outlook Canada Goose shares are falling after the high-end coat maker missed quarterly sales estimates and said it expects slower sales growth in the coming ...
21:17, 2019-05-29

Family-run Latin food giant Goya weighs possible $3 billion sale Goya, one of the most iconic names in Latin American cuisine, has hired investment bank Goldman Sachs to weigh options that could include a sale of t...
21:17, 2019-05-29

Abercrombie & Fitch CEO says smaller stores are the future (as it closes 3 of its largest stores) While Abercrombie & Fitch is planning to close three more of its flagship retail locations, it's opening additional smaller-format stores in a b...
21:17, 2019-05-29

Apparel retailers Canada Goose, Abercrombie & Fitch and others are getting whacked A handful of poor earnings reports and the threat of 25% tariffs on clothing imported from China is causing some retailers' stocks to take a bea...
21:17, 2019-05-29

Foot Locker is kicked to the curb, and one technical analyst says it's on track for new lows Foot Locker got roughed up last week. Charts suggest it could see short-lived relief, but beware a fake rally, says Piper Jaffray's Craig Johnso...
14:17, 2019-05-28

Casper, Kylie Jenner's billion-dollar mattress, could be an IPO market sleeper Over 800,000 Instagram likes from Kylie Jenner's followers does not alone make mattress start-up Casper worth billions, but recent hot performan...
10:00, 2019-05-27

California lawmaker withdraws bill banning flavored tobacco products after 'hostile amendments' A proposed California bill that would prohibit sales of flavored tobacco products in stores and vending machines in the nation's most populous s...
04:17, 2019-05-24

JP Morgan cuts ties with OxyContin maker Purdue Pharma Purdue, owned by the wealthy Sackler family, faces thousands of lawsuits claiming that the company marketed addictive painkillers while underplaying ...
02:17, 2019-05-24

Meet the 27-year-old set to be India's first woman to co-found a $1 billion start-up At 27, Ankiti Bose is already the CEO of online shopping site Zilingo, and on course to become the first Indian woman to co-found a $1 billion start-...
12:00, 2019-05-23

Shares of Victoria's Secret-owner L Brands spike nearly 11% after beating earnings expectations Shares of L Brands, the owner of Victoria's Secret and Bath & Body Works, rose nearly 11% in aftermarket trading Wednesday after the company rep...
02:00, 2019-05-23

Lowe's tumbles as earnings fall short and forecast cut as higher costs weigh on results Lowe's shares plummeted 8% before the bell Wednesday after the company posted mixed fiscal first-quarter results and cut its forecast for the ye...
13:17, 2019-05-22

McDonald's faces new complaints related to handling of sexual harassment cases The Time's Up Legal Defense Fund, the American Civil Liberties Union and fast-food workers coalition Fight for $15 said Tuesday that they have f...
17:51, 2019-05-21

This Chinese facial recognition start-up can identify a person in seconds Shanghai-based YITU Technology has gained wide recognition for its facial scan platform that can identify a person from a database of at least 2 bill...
14:38, 2019-05-21

Chinese billionaire Jack Ma: 'I worry about Europe' and its obsession with tech regulation Alibaba co-founder Jack Ma says he's worried about Europe because it's tightening regulations that restrict companies' ability to inno...
14:38, 2019-05-21

Nike's 'inclusive' image at risk if it fails women athletes, brand experts say Olympic athlete Alysia Montano said when she told then sponsor Nike she wanted to have a baby during her career, the sports giant told her it would p...
14:38, 2019-05-21

Here's how we're different from Starbucks, says CFO of China's Luckin Coffee on IPO day The CFO China's Luckin Coffee says the tech-based beverage company's business model is setting itself apart from U.S. coffee giant Starbuck...
14:38, 2019-05-21

Walmart gives a first look at its sprawling new home office in Bentonville Walmart is one step closer to moving into a new home office for more than 14,000 people, which will be outfitted with fitness centers for employees a...
14:38, 2019-05-21

Men are a multibillion dollar growth opportunity for the beauty industry The men's personal care industry is predicted to hit $166 billion by 2022, according to Allied Market Research. Last year, men's skin-care ...
14:38, 2019-05-21

Kohl's lands deal with Fanatics to sell its licensed sports gear online Kohl's has signed a deal with Fanatics to sell a wide selection of items from the licensed sports retailer, including NFL jerseys and NBA T-shir...
14:38, 2019-05-21

Dozens of shoe retailers, including Nike and Adidas, sign letter to Trump urging a halt to tariffs More than 170 shoe retailers have penned a letter to the White House asking President Donald Trump to consider a halt to tariff increases on footwear...
14:38, 2019-05-21

Nordstrom's massive department store for women set to open this October in New York Nordstrom has chosen Oct. 24 for the grand opening of its women's store in New York, the largest single-project investment in the company's...
14:38, 2019-05-21