Tapestry, parent company of luxury handbag and accessories retailer Coach, is buying the owner of fashion brands including Michael Kors, Versace and Jimmy Choo, Capri Holdings.

Consumers were less confident for the second straight month as stubborn inflation and anxiety over a possible recession weighed on Americans.

Kohl’s slashed its sales and profit expectations for the year as the department store chain stepped up discounts to get rid of unwanted merchandise like clothing and home goods.

TikTok, an app best known for dancing videos with 1 billion users worldwide, has also become a shopping phenomenon.

Following are developments Friday related to the national and global response, the work place and the spread of the virus. ________________________STRESS TESTS: The Federal Reserve is making modifications to the way it performs stress tests on banks due to the virus outbreak. Sales and operating revenue dropped 39.8%, with comparable store used unit sales down 42%. However, sales have started to improve: comparable store used unit sales for the two weeks ended June 14 were within 10% of last years sales. MARKETS: Wall Street is rising in midday trading Friday, putting the S&P 500 on pace to close out a winning week after encouraging reports raised hopes for a coming economic recovery.

Protesters start fires along the SoHo shopping district on Sunday, May 31, 2020, in New York. (AP Photo/Wong Maye-E)NEW YORK New York City imposed a late-night curfew Monday that failed to prevent another night of destruction, including arrests after a break-in at the iconic Macy's store on 34th Street, following protests over George Floyds death. Really bad.New York joined other cities around the country in imposing a curfew after days of unrest. A nighttime march through Brooklyn was also peaceful, and police let it continue for hours after the 11 a.m. curfew passed. Chiara de Blasio, 25, refused to leave a Manhattan street officers were clearing Saturday because people were throwing things.

Black lives matter. At the same time, companies must consider whether it makes sense for them to weigh in, especially on an issue as sensitive as race. Media giant ViacomCBS tweeted Black Lives Matter. Expressing solidarity with the Black Lives Movement is the right message, but everyone is jumping in on that bandwagon, said Allen Adamson, co-founder and managing partner of Metaforce a marketing and product consultancy. Each of these black lives matter.