Despite growing concerns over fallout from the Trump administration’s trade barriers, Gap Inc. on Thursday joined other retailers in reporting profit growth for the most recent three-month earnings period. Revenue at the San Francisco-based apparel chain grew 7.5 percent to $4.09 billion for the quarter that ended on June 30. Net income rose 6.6 percent […]
KABOOM!: Supreme Court Rules That States Can Require Collection of Online Sales Taxes…
The Supreme Court ruled Thursday that states can require out-of-state online retailers to collect sales taxes, reversing a previous high court decision that limited collections to stores with a physical presence and paving the way to more online sales taxes nationwide. In a 5-4 decision written by Anthony Kennedy, the court ruled that that physical […]
Opinion Analysis: Court Expands States’ Ability to Require Internet Retailers to Collect Sales Tax…
People Outraged After Amazon Found to Secretly Profit from “Unethical And Illegal” Chinese Sweatshops…
Amazon founder and CEO Jeff Bezos recently became the world’s wealthiest man. While, Bezos’ fortune is mostly tied to Amazon’s inflated stock price trading at a nosebleed price/earnings ratio of approximately 265, with a market cap around $811 billion (as of June 08), many questions remain as to just how did Bezos manage to become […]
Walmart Closes 63 Sam’s Clubs After Announcing Bonuses Attributed to Tax Cuts…
Walmart is shuttering 63 Sam’s Club stores around the country, an announcement that came shortly after the company said it would be rewarding its employees with up to $1,000 in bonuses because of the new tax cuts that were just signed into law. Some of the stores were closed Thursday, including several in the Houston […]
Whole Foods Shareholders Vote in Favor of Amazon Takeover…
Whole Foods shareholders approved Amazon’s takeover of the grocery chain on Wednesday. The vote was a pivotal step forward in the behemoth online retailer’s move to gain firmer footing in the multibillion dollar grocery space. Amazon and Whole Foods have both said they want the $13.7 billion deal to be completed by…
Here Are the Stores Taking Hits, Closing Hundreds of Locations Nationwide…
For the retail industry’s brick-and-mortar stores, the realities of online shopping and changing tastes have driven down sales, causing hundreds of locations to close their doors. So what’s the status of the stores making headlines these days? Here’s a quick guide…