February’s gain in the GDP component, which was in line with economists’ expectations, followed a 0.4% advance in January.
Demand for in-person chocolate shopping had “waned as a result of the pandemic and its acceleration of changes in consumers’ shopping behavior."
"The further slump in retail sales in December confirms that the continued surge in coronavirus infections is now weighing heavily on the economy."
The SEC says the Chinese retailer fabricated more than $300 million in coupon sales to present a false picture of rapid growth to investors.
Although the pandemic nearly crushed their industries, these companies are finding ways to thrive.
KKR will acquire 65% of the Japanese retailer and Rakuten will take a 20% share through a newly-created subsidiary.
The big-box retailer continued to benefit from shoppers stocking up on everything from food to patio furniture.
“We know that digital is the new normal. The consumer today is digitally grounded and simply will not revert back."
The layoffs will “further align [Kohl’s] cost base in response to the business impact resulting from the COVID-19 pandemic."
"We nearly doubled our e-commerce business, with approximately 50% online penetration, demonstrating our ability to pivot to a digitally-led culture."
“The coronavirus-induced closure of stores and parlors hammered demand for [Coty’s] beauty products” in the fourth quarter.
Tailored Brands is the latest of more than 20 private and public retailers to have declared bankruptcy this year.
