A Big Lots store in Los Angeles, Sept. 7, 2024. Discount home goods retailer Big Lots Inc. filed for Chapter 11 bankruptcy protection on Sept. 9, 2024, indicating it plans to close nearly 300 stores and continue operating. Eric Thayer | Bloomberg | Getty Images Discount home goods retailer Big Lots filed for bankruptcy protection … Read more
The Shopify logo is pictured outside the The Well building on Spadina Ave. in Toronto. Lance Mcmillan | Toronto Star | Getty Images Shares of Shopify popped as much as 22% in early trading on Wednesday after the Canadian e-commerce company topped expectations for the second quarter, citing strong demand despite “a mixed consumer spend … Read more
U.S. stocks fell sharply on Thursday as weaker-than-expected jobs and manufacturing data sparked concerns about a rapid economic slowdown. Andreas Arnold | Picture Alliance | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter … Read more
A trader works during the closing bell at the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City. Johannes Eisele | Afp | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they … Read more
CNBC’s Jim Cramer examined Thursday’s market action, attributing the day’s brutal sell-off to the Federal Reserve’s decision to hold rates steady instead of making a cut. “To me, today’s terrible action in stocks was a function of the Fed not cutting rates yesterday,” he said. “The slowdown in the economy, the brown shoots as I … Read more
Andy Jassy, chief executive officer of Amazon.Com Inc., speaks during the GeekWire Summit in Seattle, Washington, U.S., on Tuesday, Oct. 5, 2021. David Ryder | Bloomberg | Getty Images Amazon is pointing to an unusually busy news cycle as one of the drivers behind its weak revenue forecast. On a call with reporters following the … Read more
The first Wayfair brick-and-mortar store prepares to open on May 02, 2024 in Wilmette, Illinois. Scott Olson | Getty Images Online home goods company Wayfair saw sales decline in its fiscal second quarter as its CEO likened the current slowdown in the home goods category to the 2008 financial crisis. “Our credit card data suggests … Read more
Ordini’s Best Fiberglass Pools contractors work to install a pool, which the company says have dramatically increased in sales due to COVID-19 fears, in Gilbertsville, Pennsylvania, April 26, 2021. Rachel Wisniewski | Reuters Americans are kicking the can down the road on some more-costly, traditionally financed purchases as elevated inflation and interest rates bite. Corporate … 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 sign hangs outside the Shein warehouse in Whitestown, Indiana, on Nov. 29, 2023. Scott Olson | Getty Images Chinese-founded fast fashion behemoth Shein isn’t just working to win over lawmakers in Washington, D.C., as it gears up for a potential U.S. IPO, it’s also trying to win over the broader U.S. retail industry. It’ll … Read more
