Retail

Retail

Lowe's shares fall 10% on earnings miss

MOORESVILLE, N.C. (AP) — Shares of Lowe's tumbled 10% at the opening bell Wednesday after the home improvement retailer cut its outlook for the year after a weak first quarter.

The company cited rising costs and outdated pricing tools. Lowe's recently acquired an analytics platform it says will modernize its pricing process and improve margins.

Target's online game is on target

NEW YORK (AP) — An aggressive campaign at Target to let customers do more online is paying off.

J.C. Penney, Kohl's struggle in 1st quarter

NEW YORK (AP) — J.C. Penney and Kohl's struggled during the start of the year, raising concern about the challenges for the department store industry ahead.

Penney reported a wider than expected loss and sales declines during the first quarter while Kohl's cut its fiscal 2020 profit outlook as it struggled with slumping sales in the quarter.

Amazon takes top stake in food delivery firm Deliveroo

LONDON (AP) — Amazon is investing in British meal delivery company Deliveroo, expanding its global reach into food retailing.

Deliveroo said Friday that it raised $575 million from a number of investors led by Amazon. Amazon will become Deliveroo's largest investor, though it did not disclose how much Amazon put in or how large a stake it acquired.

U.S. fighting trade wars on multiple fronts

WASHINGTON — President Donald Trump's high-profile trade offensives have grabbed headlines and rattled financial markets around the world. He's battling China over the industries of the future, strong-arming Canada and Mexico into reshaping North American trade and threatening to tax cars from Europe.

Walmart warns that higher tariffs will mean higher prices

NEW YORK (AP) — Walmart warned on Thursday that higher tariffs on imports from China will mean higher prices.

The comments came after the nation's largest retailer reported its best sale performance at its established U.S. namesake stores for the fiscal first quarter in nine years. It marked 19 straight quarters of same-store sales gains.

FCC set to vote on measures to cut down billions of robocalls

NEW YORK — New measures by regulators could help thwart some of the billions of robocalls received in the U.S.

Courage Connection to close Lincoln Square resale store June 30

URBANA — Connections, the resale store operated by Courage Connection at Lincoln Square, will close June 30, the agency said.

Michael Ujcich, Courage Connection's development and outreach director, said the agency is closing the store to focus on its mission, which is providing services for survivors of domestic violence.

Macy's tops 1st-quarter estimates of comparable sales

NEW YORK (AP) — Macy's put up its sixth consecutive quarter of increases in comparable store sales fueled by its robust online business.

The department store chain also smashed estimates for first-quarter profits.

Shares rose in premarket trading on Wednesday.

Retail sales continue to seesaw, slipping 0.2% in April

WASHINGTON (AP) — 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 1.3%.

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