retail News Updates

NEW YORK — Americans picked up the pace of spending in January as the threat of omicron faded and there was some easing of supply shortages.

The Home Depot on Jan. 27 named veteran executive Edward "Ted" Decker as its new CEO.

The rebound in U.S. retail sales slowed in July by more than expected, indicating a surge in coronavirus cases and still-high unemployment cooled the economic recovery.

Mall operator Simon Property Group Inc. has been in talks with Amazon .com Inc. to turn some empty store space formerly occupied by anchor tenants such as J.C. Penney Co. Inc. and Sears Holdings Corp. into Amazon fulfillment centers, Dow Jones reported, citing people familiar with the matter.

While evidence of a virus-sparked consumer pullback is largely anecdotal for now, it would be a setback for a U.S. economy that has just started to perk up, with retail sales jumping to a record in May.

U.S. retail sales jumped in May by the most on record and double forecasts, regaining more ground than expected after unprecedented drops the prior two months as states allowed more merchants to reopen.

U.S. retail sales and factory output registered the steepest declines on record in April, illustrating a recession so deep that it likely will take years to fully recover.

U.S. retail sales rose at a solid pace in June, providing crucial support to the economy at a time when other drivers of growth have faded.

If you’re looking for a job this spring, The Home Depot is seeking to hire 80,000 employees at its stores and distribution centers.

Home-improvement retailer Lowe’s announced the closing of 51 underperforming stores Nov. 5, including two New York locations that the company hailed just three years ago as the way to win over city-dwellers.