Walmart is forecasting slower sales and profit growth this year due to inflation. This comes after the retail giant’s recent announcement that it will raise its minimum wage from $12 to $14 an hour amid a tight labor market. NTD spoke to Sarah Wyeth, Consumer & Retail Sector Lead at S&P Global Ratings, for her […]
Wayfair Inc., a Boston-based e-commerce company that sells furniture internationally, announced on Friday that as part of a cost-saving plan it will cut 1,750 jobs, representing 10 percent of its entire global workforce. In a statement on Jan. 20, the furniture retailer said the layoffs will include approximately 1,200 employees on the corporate team, which the […]
President Joe Biden met with CEOs of major U.S. retailers in a Cyber Monday roundtable to discuss the supply chain crisis amid rising prices and growing concern that products may not be available during the holiday season. “The business leaders gathered here today represent a broad swath of American shopping,” Biden said in his opening […]
U.S. retailers are estimated to generate online sales of up to $11.3 billion on Cyber Monday, a decline in growth from a year earlier as fewer discounts and limited choices due to global supply chain disruptions deter shoppers. Retailers had also spread out promotional deals across more weeks this year to protect profit margins from […]
Say goodbye to Target runs on Thanksgiving. Target said Monday that it will close all of its stores on Thanksgiving every year from 2021 on. Target closed stores last year on Thanksgiving due to the pandemic and had previously announced it will close this Thanksgiving too. “What started as a temporary measure driven by the […]
One-third of all Americans who use “buy now, pay later” services have fallen behind on payments, according to a new study by Credit Karma. NTD spoke to Ted Rossman, a senior analyst at CreditCards.com, about what consumers should pay attention to so they don’t fall into a debt trap.
How was it for business over Labor Day weekend? NTD spoke with experts from the auto and furniture industries—two industries that have really been on a roller coaster since the pandemic hit last year— Jeanette Mcnamara, executive vice president of the Sussman Agency in Detroit, and Austin Germain, general manager at Jaguar Land Rover of […]
