Reuters | |

PVH Corp reported a surprise quarterly profit on Wednesday, as the apparel retailer benefited from strong demand for comfortable and casual clothing during the coronavirus-led shift to work from home, sending its shares up over 4%.

The Calvin Klein and Tommy Hilfiger owner also projected encouraging sales trends in China and Europe for the coming months and forecast revenue in the second half of its fiscal year to decline 25%, smaller than the 33% drop it posted in the second quarter.

Reuters | |

Macy’s Inc reported a smaller-than-expected quarterly loss and beat sales estimates on Wednesday, as shoppers stuck indoors due to the COVID-19 pandemic bought more apparel using the department store chain’s app and website.

Shares of the company, which have lost nearly 60% of their value so far this year, were up about 6% before the bell.

To cope with the closure of malls and stores due to coronavirus-related lockdowns, Macy’s has been focusing on its on...

Reuters | |

Walmart Inc on Tuesday unveiled the perks of its new membership program, Walmart Plus, which will grant subscribers unlimited free delivery, fuel discounts and no checkout lines.

Touted as a rival to Inc’s Prime subscription, Walmart’s new loyalty program will cost $98 a year or $12.95 a month. It will become available to all U.S.-based customers on Sept. 15.

Amazon Prime, which offers U.S. shoppers fast ship...

Reuters | |

J.C. Penney Co Inc’s talks with landlords for a rescue from bankruptcy proceedings reached an impasse, pushing the department store to the brink of collapse unless it can reach a deal within days to be taken over by lenders.

Discussions between the Plano, Texas-based retailer and a duo of mall owners Simon Property Group Inc and Brookfield Property Partners LP stalled over the weekend, Joshua Sussberg, a J.C. Penney lawyer at Kirkland & Ellis LLP, said during a Monday court hearing.

The negotiations have dragged on in part over lease terms, according to people familiar with the matter. Sussberg did not detail that or any other specific sticking points during Monday’s hearing.

AP News | |

When Archie Jafree heard that Lord & Taylor filed for Chapter 11 bankruptcy in early August, he was sad about the fate of the storied retailer with roots dating back to 1824.

Still, the 36-year-old northern Virginia resident acknowledged he hadn’t shopped there in months, preferring instead to go to Nordstrom and Zara, where he feels the customer service is better.

“It had good quality clothes,” Jafree said of Lord & Taylor, “but they hadn’t evolved with the times.”

Reuters | |

A day after the shooting of Jacob Blake in Kenosha, Wisconsin, searches for the term “Black-owned businesses” began to surge on Google Trends, as social media users called out for suggestions on where to spend their money in a way that supported the Black community.

“I’d like to start a thread of Black-owned businesses to support in the Kenosha/Racine, Wisconsin area. Please add any more that you know of!” tweeted Nikki Francois in Wisconsin. “Mention some Black-owned businesses, I wanna support,” Briana Howington tweeted the same day.

AP News | |

Lord & Taylor, one of the country’s oldest department store chains, is going out of business after filing for bankruptcy earlier this month.

The retailer was sold just a year ago for $100 million to Le Tote, a San Francisco online clothing rental company, by Canadian parent Hudson’s Bay Co.

Lord & Taylor will permanently close its remaining 38 stores and shut down its website, the company said Thursday. It is currently holding going out of business sales in stores and online.

AP News | |

Amazon says it’s buying 1,800 electric delivery vans from Mercedes-Benz, the biggest such order for the German automaker to date.

In announcing the order Friday, Mercedes said it would also join a climate initiative established by Amazon founder Jeff Bezos. By signing up to The Climate Pledge, Mercedes-Benz commits itself to going completely carbon neutral by 2039.

Scientists say man-made emission of greenhouse gases such as carbon dioxide must end by...

Reuters | |

Apparel retailer Gap Inc reported a surprise 13% rise in quarterly comparable sales on Thursday, as consumers stuck at home due to the COVID-19 pandemic bought more of its Old Navy and Athleta clothing online.

People working or studying from home have been stocking up on comfortable “stay at home” clothes including fleece and activewear, boosting demand for the company’s budget-friendly Old Navy brand, athleisure label Athleta as well as Gap clothing.

Same-store sales rose 13%, compared with analysts’ forecast of a 20.97% fall, according to IBES data from Refinitiv.

Reuters | | Inc on Thursday launched a fitness band and app, “Halo”, as the e-commerce giant looks to take on Apple, Fitbit and Samsung in an increasingly crowded fitness tracker market.

The Halo band would be priced at $99.99 while the app membership would cost $3.99 per month, according to Amazon.

The market for wearables is highly crowded, with Apple Inc being the leader with a 29.3% share in the first quarter of 2020, according to data fro...