A truck picks up a shipping container at the Port of Savannah in Georgia. Paul Hennessy | LightRocket | Getty Images As the International Longshoremen’s Association port workers move closer to a strike at East Coast and Gulf Coast ports, the union is warning that major importers such as LG Electronics, Walmart, Ikea, Samsung, and … Read more
CNBC’s Jim Cramer on Wednesday tried to quell investors’ recession fears. He pointed to several sectors that are seeing gains and said that the economy needs to slow for the Federal Reserve to make eagerly awaited interest rate cuts. “If you have a market that’s been driven by a handful of stocks and then suddenly … Read more
A sign is posted in front of a Dollar Tree and Family Dollar store on March 13, 2024 in Rio Vista, California. Justin Sullivan | Getty Images Shares of Dollar Tree fell about 12% in premarket trading Wednesday after the discounter cut its full-year outlook, citing increasing pressures on middle-income and higher-income customers. The retailer … Read more
A sign hangs above a Dollar General store in Chicago on Aug. 31, 2023. Scott Olson | Getty Images Dollar General shares tumbled Thursday after the discount retailer slashed its sales and profit guidance for the full year, suggesting its lower-income customers are struggling in this economy. Shares of the retailer, which caters to more … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets pullback : Stocks were selling off Wednesday after a handful of earnings-related disappointments in retail and weakness in big tech. Some of the weakness in … Read more
A customer enters a Macy’s store that is set to close at Bay Fair Mall on February 27, 2024 in San Leandro, California. Justin Sullivan | Getty Images Macy’s decision to close nearly a third of its stores will spark change in malls and communities across the U.S. Some of those transformations may catch shoppers … Read more
A sign hangs above a Dollar General store on August 31, 2023 in Chicago, Illinois. Scott Olson | Getty Images The U.S. Department of Labor announced a settlement Thursday with Dollar General, requiring the retailer and its subsidiaries to pay $12 million in penalties and implement significant workplace safety improvements in its more than 19,000 … Read more
An exterior view of a Dollar Tree store in Bloomsburg Pennsylvania. Paul Weaver | Sopa Images | Lightrocket | Getty Images Dollar Tree announced Wednesday it is considering a sale of its more grocery-focused Family Dollar brand. The company had recently shared plans to close almost 1,000 Family Dollar stores in an attempt to revamp … Read more
Wayfair store in Wilmette, Illinois. Courtesy: Wayfair What retail apocalypse? Online home goods retailer Wayfair is opening its first namesake store, near Chicago, following a string of other digitally native companies that have turned to brick-and-mortar for growth. In an ironic twist for a company that became a $12 billion powerhouse by persuading consumers to … Read more
A customer walks through The Home Depot store on February 20, 2024 in Austin, Texas. Brandon Bell | Getty Images The state of the consumer in 2024 is already taking shape — even before the country’s major retailers begin to report first-quarter earnings, starting with Home Depot and Walmart next week. There are signs that … Read more
