INSIDER
Retail sales rise for 4th straight month as growth slows
Read full article: Retail sales rise for 4th straight month as growth slowsRetail sales rose 0.6% last month, the fourth consecutive month of growth, the U.S. Commerce Department said Wednesday. Retail sales have been recovering after they plunged in April and March as clothing stores and malls closed due to the spread of the coronavirus. Bargain chain Century 21 said last week it's shutting down all of its 13 stores for good after nearly six decades in business. Target and Walmart stayed open during the pandemic and became a lifeline for Americans stocking up on toilet paper and groceries. Consumer spending makes up two-thirds of all economic activity in the U.S., and is monitored closely by economists gauging the nation's economic health.
What slowdown? Amazon seeks to hire 33,000 people
Read full article: What slowdown? Amazon seeks to hire 33,000 peopleNEW YORK Amazon is on a hiring spree. Amazon can afford to grow its workforce: It is one of the few companies that has thrived during the coronavirus outbreak. To fill the 33,000 jobs, Amazon said will hold an online career fair Sept. 16 to collect resumes and give people a chance talk to a recruiter. The average salary of corporate or tech job at Amazon is $150,000, Williams said. Those not interested in a job at Amazon can also get resume help, the company said.
After nearly 200 years, Lord & Taylor goes out of business
Read full article: After nearly 200 years, Lord & Taylor goes out of businessNEW YORK Lord & Taylor, one of the country's oldest department store chains, is going out of business after filing for bankruptcy earlier this month. It is currently holding going out of business sales in stores and online. Founded as a dry goods store in 1826, Lord & Taylor has struggled for years as more people shop online and in other stores. Lord & Taylor was shrinking even before the pandemic. Amazon.com, the online shopping giant, is turning the building into an office for its tech workers.
Lord & Taylor, Mens Wearhouse owner file for bankruptcy
Read full article: Lord & Taylor, Mens Wearhouse owner file for bankruptcyNEW YORK Lord & Taylor, America's oldest retailer, is seeking bankruptcy protection, as is the owner of Mens Wearhouse and Jos. Both filed for bankruptcy protection, separately, in the Eastern Court of Virginia on Sunday. Bank stores, was struggling even before shelter-in-place orders smothered any demand for suits or ties. Bank stores, along with K&G Fashion Superstore and Moores Clothing for Men, all owned by Tailored, with continue to operate during restructuring. About two dozen stores have sought bankruptcy protection since the pandemic started.