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Tag Archives: Retail

Amazon is too big and has "destroyed" retail, says US Treasury Secretary

US Treasury Secretary Steven Mnuchin said he supports the Justice Department's efforts to engage with Amazon because the technology giant "destroyed the retail industry." "They have destroyed the retail industry in the United States, so there is no doubt that they have limited competition," Mnuchin said during an interview with CNBC. "There are areas where they have really hurt small …

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JC Penney fades, Walmart thrives. Here's a look at retail today

A Nordstrom business in Irvine, California. Scott Mlyn | CNBC Clothes stacked on tables. Release signs hang on the ceiling. Promotions in abundance. Have you been to a department store lately? It might look like this. The same applies to retail shares. There is a growing gap between the strong and the weak – the retailers who face camp construction …

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The share of J.C. Penney falls as the retail spiral moves down

J.C. Penney shares fell 17% on Friday, after it was revealed that the 117-year-old retailer had hired consultants to help restructure his debt to avert bankruptcy. The shares fell by 18 cents and closed at 90 cents. The stock had fallen 88 cents the day before, down nearly 19%. Since the end of 2018, the stock has been trading at …

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Japan receives a retail version of Tetris 99

Listing also accidentally confirms the launch of the second DLC Tetris 99 seems to perform incredibly well for Nintendo. Not only has the Big N used the game to promote its Switch Online service (which has recently reached 10 million subscribers), but some paid DLCs have also added offline modes to the Battle Royale puzzler. While we have just learned …

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Apple has problems with iCloud Services and retail store systems

Apple is experiencing issues with a variety of iCloud-related services, as described on the company's system status page. Affected services include all basic iCloud services, as well as services such as Find My Friends, Find My iPhone, Game Center, Photos, and Screen Time. The company only states that "some" users are affected, but social media reports suggest that the outage …

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Google Stadia price leaks, subscription and retail purchases

The upcoming streaming platform Google Stadia not only follows the Netflix model, as many fans had hoped. Instead, both a subscription and games are offered individually for sale, as Kotaku had already reported, and the entire model certainly sounds confused. Stadia, which was announced in March, is a streaming platform that was designed for sale you play without a high-end …

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Clothing giant Forever 21 explores restructuring in the midst of retail concerns

Pedestrians pass a Forever 21 store in New York. Scott Mlyn | CNBC Forever 21 is reviewing restructuring options to bolster its liquidity as the fast-fashion giant struggles with its business. The company is in talks with the private equity firm Apollo Global Management on the inclusion of debtor-in-possession funds to provide funding should it file for bankruptcy, the person …

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Retail apparel revenues have not been so bad since the recession

A customer is browsing through jeans at a Gap store in San Francisco. David Paul Morris | Bloomberg | Getty Images Clothing retailers' earnings reports have been less disappointing since the Great Recession. Companies from Gap Inc. to J. Jill to Canada Goose and Abercrombie & Fitch have delivered disappointing earnings reports in recent days, blamed on issues such as …

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Former Apple retail boss Angela Ahrendts joins the Airbnb board

Former Apple retail boss Angela Ahrendts joins Airbnb's board, the company said Thursday. Burberry's former CEO led Apple's retail and online stores for five years before announcing their resignation earlier this year. Ahrendts was one of Apple's highest paid employees with a total compensation of $ 26.5 million in 2018. This is evident from the proxy statement by Apple from …

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