Stocks stage cautious rebound after a bruising week
Choose your plan ArrowRight The Dow Jones industrial average gained 200 points, or 0.65 percent at the open but remained on track for its ninth straight losing week. AdvertisementJPMorgan said this week that the market is pricing in a 70 percent chance of near-term recession, suggesting investors lack confidence the Fed can contain inflation without triggering a downturn. Fed officials have been attempting to pace increases so as not to smother economic growth, a difficult balance to strike. Asian markets closed higher across the board, led by Hong Kong’s Hang Seng Index, which surged nearly 3 percent. European indexes followed suit, with Britain’s FTSE100 and Germany’s DAX climbing nearly 2 percent in midday trading.washingtonpost.com
Abbott reaches agreement with FDA to reopen baby formula plant to ease nationwide shortage
A woman shops for baby formula at Target in Annapolis, Maryland, on May 16, 2022, as a nationwide shortage of baby formula continues due to supply chain crunches tied to the coronavirus pandemic that have already strained the countrys formula stock, an issue that was further exacerbated by a major product recall in February. Abbott has reached an agreement with the Food and Drug Administration to reopen its manufacturing plant in Michigan to help ease a nationwide shortage of baby formula, the company announced on Monday. Abbott said it can restart the Michigan plant within two weeks subject to FDA approval. Mothers are struggling to find formula for their infants amid a nationwide shortage that has left shelves empty in many stores. In February, Abbott issued a voluntary recall of its Similac PM 60/40, Similac, Alimentum and EleCare products made at the Michigan plant.cnbc.com
Woman charged for allegedly causing $7K in damage at West St. Paul Target during angry outburst
Mar. 17—Authorities say a 23-year-old woman who apparently was upset over a prior purchase trashed a Target store in West St. Paul — throwing merchandise on the floor, smashing display cases, knocking over display stands — during an angry outburst that caused at least $7,000 in damage. Gaylynn Atlene Bailey of West St. Paul was charged Thursday in Dakota County District Court with felony ...news.yahoo.com
A YouTube couple arrested after hiding in a Target store overnight in a prank video say they were expecting a fine not criminal charges and up to 7 years in prison
The couple filmed the prank and posted it on their YouTube channel. They were charged with conspiracy and third-degree criminal trespassing.news.yahoo.com
Target, CVS join chains making masks optional for fully vaccinated shoppers
Target, CVS, Winn-Dixie, Publix, Trader Joe’s, Costco, Sam’s Club, Walmart and Starbucks have all announced they’re dropping their requirements that fully vaccinated customers wear face coverings in their stories, following Centers for Disease Control and Prevention guidance issued Thursday.
From bare shelves to limits on toilet paper: What’s changed since beginning of pandemic
There is no toilet paper. There are no paper towels back there, and they’re kind of rationing out the waters,” said shopper Marie Norman. Limits on certain grocery items became necessary, including toilet paper. The Bacardi plant in Jacksonville started producing hand sanitizer. At the stores today, toilet paper is stocked and hand wipes are readily available.
Unique getaway: Tru by Hilton opens 106-room hotel in Mandarin
JACKSONVILLE, Fla. – Tru by Hilton just opened its doors at its tucked-away spot in Jacksonville’s south Mandarin area located near Whole Foods, Publix and Target. The four-story, 106-room hotel at 2970 Hartley Road opened its doors on Feb. 16 and is one of five that the brand intends to open in the area. The “Tru” brand is a newer, more modernized version described as “minimal but meaningful.”The Tru by Hilton brand promotes its rooms with “open shelves, doorless closets and wood-like flooring,” along with a “large TV and premium channels” that create an open feel. Game area at Try by Hilton in Mandarin“Our hotel rooms are minimal but meaningful,” said Kyle Stanton, night auditor at Tru by Hilton. The lobby provides plenty of seating for any guests wanting to eat food, work, or just relax.”Pool area at Tru by Hilton in MandarinRoom rates are available online.
Spike in hospitality jobs led employment gains
The February gain marked a sharp pickup from the 166,000 jobs that were added in January and the loss of 306,000 in December. Bars and restaurants, in particular, snapped back, adding 286,000 jobs as business restrictions eased in California and other states. AdAlso hiring last month were retailers, which added 41,000 jobs, health care companies, with 46,000, and manufacturers, with 21,000. But state and local governments have slashed 1.4 million jobs since the pandemic erupted, including 86,000 last month, and most have instituted hiring freezes. The Congressional Budget Office projects the nation will add a substantial 6.2 million jobs this year.
Target powers through a pandemic; 2020 sales growth explodes
FILE - In this April 6, 2020 file photo, a customer wearing a mask carries his purchases as he leaves a Target store during the coronavirus pandemic, in the Brooklyn borough of New York. The moves come as Target extended its sales streak through the holiday quarter and sales grew by more than $15 billion. Online sales soared 118%. In the previous quarter, same-store sales rose 10%, while online sales spiked 155%. Late last year, it signed a deal with beauty chain Ulta Beauty that will place Ulta shops in more than 100 Target stores by mid-2021.
US jobless claims at 730K, still high but fewest in 3 months
The Federal Reserve says theres evidence that hiring has picked up in recent weeks, though the job market remains badly damaged by the pandemic. Jobless claims declined by 111,000 from the previous week to a seasonally adjusted 730,000, the Labor Department said Thursday. Still, before the virus erupted in the United States last March, weekly applications for unemployment benefits had never topped 700,000. The latest figures coincide with a weakened job market that has made scant progress in the past three months. AdAll told, 19 million people were receiving unemployment aid as of Feb. 6, up from 18.3 million the previous week.
Federal Reserve sees modest pickup in hiring this month
The Federal Reserve says theres evidence that hiring has picked up in recent weeks, though the job market remains badly damaged by the pandemic. (AP Photo/Steven Senne, File)WASHINGTON – The Federal Reserve says there's evidence that hiring has picked up in recent weeks, though the job market remains badly damaged by the pandemic. In its semi-annual monetary policy report released Friday, the Fed said it has been watching job data compiled by payroll processor ADP. AdThe report will form the basis for Federal Reserve Chair Jerome Powell's testimony next week before committees in the House and Senate. Hiring has stalled in the past three months, with job gains averaging just 90,000 a month from November through January.
US consumer prices up 0.3% in January, led by energy spike
U.S. consumer prices were unchanged in October, the lowest reading in five months and an indication that the price spike seen this summer is beginning to fade as coronavirus cases start to increase. (AP Photo/Rogelio V. Solis)WASHINGTON – U.S. consumer prices rose 0.3% in January, led by a surge in energy. But even though the gain was the biggest monthly increase since July, inflation gains over the past year have remained modest. Core inflation, which excludes volatile food and energy costs, is also up 1.4% with core prices unchanged in January. “Consumer price inflation remains very tame,” said Kathy Bostjancic, chief U.S. financial economist at Oxford Economics, predicting that the upcoming rise in year-over-year inflation figures should be transitory.
Biden boosting vaccine allotments, financing for virus costs
Starting next week, 1 million doses will be distributed to some 6,500 pharmacies across the country, the White House said. The administration is also boosting by 500,000 the weekly allocation of vaccines sent directly to states and territories for the coming weeks, up to 10.5 million. It is allowing state and local governments to receive additional federal dollars to cover previously incurred expenses relating to the pandemic. The number of participating pharmacies and the allocation of vaccines are expected to accelerate as drug makers increase production. The Biden administration has sought to increase certainty to state governments on their upcoming allocations to streamline deliveries and prevent stockpiling of second doses for the two-dose regimens.
Retail group: holiday sales up 8.3% amid big spending shift
The nations largest retail trade group says Friday, Jan. 15, 2021, that holiday sales soared 8.3%, far exceeding its forecast even as the coronavirus kept shoppers away from physical stores. (AP Photo/Rogelio V. Solis, File)NEW YORK – The nation’s largest retail trade group said Friday that holiday sales soared 8.3%, far exceeding its forecast even as the coronavirus kept shoppers away from physical stores. The retail sales figures exclude sales from autos, restaurants and gas. The non-seasonably adjusted holiday figures, contrast with a downbeat report Friday from the Commerce Department that retail sales fell a seasonally adjusted 0.7% in December from the month before. However, the government reported a 3.7% retail sales gain in November and a 2.9% gain in December compared to the year-ago periods.
U.S. retail sales fell in December for 3rd straight month
A sale sign is displayed near the entrance of a Hallmark store Tuesday, Jan. 12, 2021, in Orlando, Fla. Retail sales fell for a third straight month, as a surge in virus cases kept people away from stores and restaurants during the holiday shopping season. The U.S. Commerce Department said Friday that retail sales fell a seasonally adjusted 0.7% in December from the month before, a decline Wall Street analysts weren't expecting. The Commerce Department said sales even fell online, down nearly 6% after rising 19% for the year. At restaurants and bars, sales fell 4.5% in December as states restricted in-person dining, ending the year down 21%. The nation’s largest retail trade group said that when car, restaurant and gas sales are taken out, and when non-seasonably adjusted numbers are compared from a year ago instead of month to month, sales in November and December actually rose 8.3% from the year before.
Target continues to thrive in whirlwind retail environment
Targets strong sales streak extended through the holiday season, as shoppers snapped up everything from clothing to home goods during the pandemic. The Minneapolis company reported Wednesday, Jan. 13, 2021, that its online sales surged 102% for the November and December period. The retailer reported Wednesday that online sales surged 102% between November and December. Even with the push online, Target's 1,900 locations have become an even greater strength as infections surged and people tried to stay home. Tiffany & Co. last week reported a 2% gain in preliminary holiday sales, helped by strong sales in China and online.
Holiday sales tick up as shoppers invest in their homes
Online sales rose a record 49% year-over-year between Oct. 11 and Dec. 24, according to the Mastercard SpendingPulse figures, which exclude services, automotive and gasoline sales. The holiday shopping season was considered longer this year as retailers offered promotions sooner and encouraged customers to get a jump-start to avoid delivery delays. During the traditional holiday period, between Nov. 1 and Dec. 24, retail sales rose 2.4% year-over-year, according to Mastercard's data. Consumers also favored electronics and appliances, a category where sales rose 6%. There was some payoff, as online clothing sales rose 15.7%, according to Mastercard.
Sephora to take over cosmetics in Kohl's stores
NEW YORK – Sephora will be replacing all cosmetics areas at Kohl's with 2,500 square foot shops, starting with 200 locations in the fall of year. Earlier this month, Target said it would be opening Ulta Beauty shops in more than 100 stores next year. J.C. Penney said its developing its own cosmetics area to replace Sephora when that agreement ends. Rougeot said Sephora was attracted to Kohl's because of its network of 1,100 stores, mostly outside of malls. The Sephora shops, which will feature about 100 brands, will be at the front of Kohl's stores.
Target gains steam heading into crucial holiday season
The Minneapolis company reported Wednesday that its online sales surged 155% in the three months that ended Oct. 31. It joined Walmart and Home Depot in reporting strong third quarter sales. Last week, Target announced a deal with nation’s largest beauty store chain, Ulta Beauty, that will place Ulta shops in more than 100 Target stores by mid-2021. During the latest quarter, drive-up sales increased more than fivefold, while order pickup continues to increase with more than a 50% increase. Target is pushing shoppers to start early this holiday season to avoid a crush of customers online and in stores during the pandemic.
LIST: Stores that will be closed on Thanksgiving
(Copyright 2020 The Associated Press. All rights reserved)JACKSONVILLE, Fla. – There is a growing list of major retailers closing stores on Thanksgiving Day in response to the coronavirus pandemic. Many popular stores, such as Walmart and Target, announced their stores will be closed on Thanksgiving Day. RELATED: Santa Claus won’t be coming to Macy’s this yearHere’s a full list of stores confirmed so far that will be closed on Thanksgiving:ALDIAcademy Sports and OutdoorsAT&TBarnes & NobleBath & Body WorksBed Bath & BeyondBest BuyBealls -- Bealls OutletBJ’sBoscov’sBurlingtonCostcoDick’s Sporting GoodsFoot LockerGameStopThe Home DepotH&M StoresHobby LobbyJCPenneyKohl’sLamps PlusLowe’sOld NavyMacy’sMarshall’sNordstrom (Rack)Office Depot/OfficeMaxPetcoPetsmartPier 1REISearsSimon Property GroupStaplesStein MartTargetT.J MaxxTractor Supply StoresUltaUnder ArmourThe Outlet Resource GroupWalmartWilliams-SonomaClick here for more information. Let us know!
Doing holiday shopping online? These are your shipping deadlines
JACKSONVILLE, Fla. – It’s being called shipmageddon: retailers and shipping companies are getting bombarded with online orders. So if you’re hoping your packages will arrive on or before Christmas Day, these companies are saying you’ll want to get an early start on any holiday shopping you’re planning to do. So major retailers such as Best Buy, Target and Walmart are rolling out holiday deals early. RELATED: Experts recommend doing your holiday shopping early this yearBut it’s worth mentioning that they’re all warning there is no guarantee your shipment will arrive on time. So, a word of advice: if you’ve got holiday shopping to do, it’s probably best to start now.
Ulta to open beauty shops at 100 Target stores in 2021
NEW YORK (AP) – The nation’s largest beauty chain has a deal to place shops in more than 100 Target stores by mid-2021. Ulta Beauty and Target said Tuesday that the shops will be located next to Target’s existing beauty sections. Financial terms of the deal weren’t disclosed. Customers are increasingly focused on one-stop shopping experiences as a way to minimize exposure to COVID-19. But the deal could hurt department stores like Macy’s, which had already seen their share of their beauty business eroded even before the pandemic.
Ulta to open beauty shops at 100 Target stores in 2021
FILE - In this Nov. 5, 2020 file photo, women walk to an Ulta Beauty store in Schaumburg, Ill. The nations largest beauty chain has a deal to place shops in more than 100 Target stores by mid-2021. Ulta Beauty and Target said Tuesday, Nov. 10 that the shops will be located next to Targets existing beauty sections. (AP Photo/Nam Y. Huh, File)NEW YORK – The nation's largest beauty store chain, Ulta Beauty, has a deal to place shops in more than 100 Target stores by mid-2021. “More than ever before, now is the time for innovation in retail,” said Mary Dillon, CEO of Ulta Beauty.
Shopping early more important than ever to be sure gifts arrive on time, experts say
The key, however, is to start thinking about holiday shopping now. But also, because of the pandemic, Consumer Reports says certain products are in short supply, and delivery companies are already pushed to the max. “With holiday shopping on top of the widespread shift to online shopping during the pandemic, shipping companies are going to be totally overwhelmed,” explained Samantha Gordon, Consumer Reports' shopping expert. Target is also offering deals throughout the month and is extending its price match guarantee through Dec. 24. CHECK IT OUT: Consumer Reports’ Holiday Gift Guide | Consumer Reports' Top 10 Black Friday shopping tipsAside from shopping early, Consumer Reports suggests shopping around.
Target to offer another round of bonuses to frontline employees
JACKSONVILLE, Fla. – Target announced that more than 350,000 of its employees will receive $200 bonuses. Target has spent nearly one billion dollars on workers well-being, healthy and safety so far this year. That’s on top of several pay raises to motivate its employees who are unable to work from home. Aside from its bonuses, the company also raised its starting wage to $15 this summer. The bonuses will go to Target team members who work at all of its stores and distribution centers by early November.
Pandemic pushes start of holiday shopping earlier than ever
(AP Photo/David Zalubowski)NEW YORK – Add last-minute holiday shopping to the list of time-honored traditions being upended by the coronavirus pandemic. Black Friday has long been the unofficial start to the U.S. holiday season, though retailers have been pushing holiday shopping earlier for the last decade or so. The first big holiday push will come from Amazon, which is positioning its mid-October Prime Day as a kickoff to the holiday shopping season. Even with the early start to the season, holiday sales are expected to deliver smaller gains than in recent years. Joel Bines, who runs the retail practice at AlixPartners, thinks the earlier shopping will stick even when the pandemic is over.