Target‘s digital sales fueled first-quarter gains, but the big-box retailer’s earnings results Wednesday showed it paid a hefty price for that growth as labor costs rose and sales of higher-margin items like apparel dropped. Shares were down less than 1% Wednesday morning. Target stores have remained open across the country during the coronavirus pandemic, but
admin
Tom Werner Next year, the IRS will allow people to put away even more money in health savings accounts, a tax-advantaged account you can use for medical expenses. Health savings accounts work alongside high deductible health plans. You can save money on a pretax or tax-deductible basis, have it grow tax free and then use
We’ve all been looking for new ways to stay productive lately, particularly when it comes to work. Whether laid off, furloughed or adapting to new ways of working, more and more of us are spending time honing our skills as we adapt to the fast-changing jobs market. That has caused demand for online learning to
It may be time to explore contrarian plays. Wells Fargo Securities’ Christopher Harvey is telling investors the best opportunities are in the hardest hit parts of the stock market. He believes the potential rewards outweigh the risks. “Start adding cyclicality. Start adding value. Start adding risk,” the firm’s head of equity strategy told CNBC’s “Trading
Richard Branson’s Virgin Orbit, with a rocket under the wing of a modified Boeing 747 jetliner, takes off for a key drop test of its high-altitude launch system for satellites from Mojave, California, July 10, 2019. Mike Blake | Reuters Sir Richard Branson‘s Virgin Orbit is set to conduct its first orbital rocket launch as
When Doc Martens first appeared in the UK, in 1960, they were working boots that would cost you under $3 a pair. These days, a pair of Made in England boots could set you back $225. So, what has changed? And why are these shoes now so expensive? For more boots being cut in half,
The FT’s Martin Wolf explains what the world could look like when the epidemic is over Read more at: https://on.ft.com/3bpaly9 See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132 ► Check out our Community tab for more stories or to suggest videos. ► Listen to our
Combining elements of Asian and Western culture. 88rising is a young entertainment company hoping to build a lasting, global brand that will outlive singular moments of virality. With influential artists like Rich Chigga and joji generating millions of views for the network, the next question for founder Sean Miyashiro and his team is how to
Sony Pictures may have sold the Tom Hanks-helmed “Greyhound” to Apple for $70 million, but that doesn’t mean that the studio is shifting away from movie theaters. In the midst of “tremendous unknowns” in the movie industry due to coronavirus, Sony Pictures CEO Tony Vinciquerra opted to sell the film to Apple’s streaming service. “This is not
With the coronavirus shutdown keeping so many at home, people are playing a lot of video games these days. That captive audience has been a huge boost for Take-Two Interactive, which closed at an all-time high on Tuesday and is trading even higher ahead of Wednesday afternoon’s earnings report. The publisher of leading sports franchises such
A single person must stand on each yellow box. Stanley Fong The coronavirus pandemic has changed almost every facet of American life, from how we work to how we consume, and in so doing destroyed millions of jobs. Yet the virus has also also created a demand for new types of work. As companies consider
Before the Covid-19 crisis even became a pandemic, food waste start-up Imperfect Foods saw an opportunity. The discount grocery subscription box service, launched in 2015, sells scarred, discolored or misshapen produce that is perfectly fine to eat. So when the spread of novel coronavirus started shutting down restaurants and hotels, Imperfect Foods reached out to see how
Federal Reserve officials called into action to rescue the economy from the clutches of the coronavirus worried about longer-lasting impacts from the pandemic including a second round of infections and the burden that low-income households would face, minutes released Wednesday from the central bank’s April meeting showed. The meeting, which ended April 29, concluded with
Ricky Sandler, founder and chief executive officer of Eminence Capital LP, speaks during a Bloomberg Television interview at the Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, May 1, 2018. Patrick T. Fallon | Bloomberg | Getty Images A hedge fund chief who had a bullish view of the stock market when
Bottles of Johnson & Johnson baby powder line a drugstore shelf in New York. Lucas Jackson | Reuters Johnson & Johnson said Tuesday that it is discontinuing its talc-based baby powder in the United States and Canada as the company faced mounting lawsuits that said it caused cancer and demand fell. J&J attributed the decline
Patrick T. Fallon | Bloomberg | Getty Images Home Depot is set to report its first-quarter earnings before the bell on Tuesday. While coronavirus restrictions have slowed or suspended construction in much of the country, Home Depot’s earnings will offer insight into the demand for do-it-yourself projects, kitchen appliances and gardening supplies as many Americans
DTP | Getty Images Add robocalls to scammers’ methods of capitalizing on the coronavirus crisis. As Americans adjust to life in the midst of a global pandemic, roughly a quarter of individuals say they’ve experienced an increase in robocalls and about 20% have received a call or text regarding the illness, according to a survey
Entrepreneurs and small business owners across the country have undoubtedly been hit hard by today’s pandemic with many non-essential businesses remaining closed until further notice. Though the federal government has stepped in to offer more than $600 billion in financial assistance through the Paycheck Protection Program (PPP) under the Coronavirus Aid Relief and Economic Security
Pedestrians pass in front of an Urban Outfitters store in New York. Scott Mlyn | CNBC Check out the companies making headlines after the bell. Urban Outfitters — The clothing retailer’s stock tumbled 5% in extended trading after the company released its first-quarter financial results. Urban Outfitters reported a loss of $1.41 per share on
JPMorgan Chase CEO Jamie Dimon said Tuesday in a memo that the coronavirus crisis should be used to build an economy that offers opportunities for “dramatically more people.” “It is my fervent hope that we use this crisis as a catalyst to rebuild an economy that creates and sustains opportunity for dramatically more people, especially those
A lot of people ask StarTalk Radio host Neil deGrasse Tyson if extraterrestrial life exists and why haven’t we encountered any alien life yet. “Maybe they have visited us in Times Square,” Tyson tells us. “But no one noticed because everybody who hangs out in Times Square is just a little crazy.” A more serious
Corporate debt issuance has been on the rise in recent years, and demand from investors is spiking. Companies have taken advantage of the situation to issue bonds with low borrowing costs. But, as the FT explains, the money isn’t necessarily translating into economic innovation. ► Check out our Community tab for more stories on the
Chipotle was founded in Denver in 1993 and grew to be one of the most successful fast-food companies ever. This video explains how Chipotle founder Steve Ells turned his love of burritos into a chain of about 500 restaurants over the past twenty years. Like this video? Subscribe to Bloomberg Business on YouTube: http://www.youtube.com/Bloomberg
Venture capitalist Peter Thiel tells Google Chairman Eric Schmidt the company has no idea how to invest its money.
Americans lined up to buy goods at supermarkets like Costco Wholesale and Walmart as fears over COVID-19 pandemic in New Jersey, United States on April 18, 2020. Tayfun Coskun | Anadolu Agency | Getty Images As states lift stay-at-home orders, Walmart customers have started to shop for more clothes and discretionary items. The retailer is getting
People wearing masks and gloves wait to enter a Walmart on April 17, 2020 in Uniondale, New York. Al Bello | Getty Images Walmart is set to report its first-quarter earnings before the bell on Tuesday. The big-box retailer has kept stores open as an essential retailer during the coronavirus pandemic. To meet demand, it hired 200,000
Thomas Barwick Lawmakers may allow savers to undo last year’s mandatory withdrawals from retirement accounts. The $3 trillion HEROES Act – the latest round of proposed federal coronavirus relief legislation – was passed by the House last Friday. Aside from granting households another batch of $1,200 stimulus payments and granting student loan relief, the measure
The number of women running Fortune 500 companies has hit a new record, according to this year’s Fortune 500 list. Currently, there are 37 women leading Fortune 500 firms, an increase from last year’s 33 women, which at the time, was a record high. This new addition of women is the result of several leadership changes
A shopper prepares to pay for items at a Kohl’s department store in Peru, Illinois, May 16, 2019. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Moderna — Shares of the biotech company fell by more than 5% on Tuesday after Moderna announced a secondary stock offering that would
Signage is displayed outside Morgan Stanley & Co. headquarters in the Times Square neighborhood of New York. Michael Nagle | Bloomberg | Getty Images Dennis Lynch steers a mutual fund whose bets on Amazon and Zoom Video have helped it beat the market by more than 30% so far this year, but he isn’t isn’t