MAGICTECHNEWS.COM: World and US News

World and US News: Retail

05:15, 2019-06-20

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