Demand for grocery delivery cools as food costs rise
Karen Raschke, a retired attorney in New York, started getting her groceries delivered early in the pandemic. Then earlier this spring, Raschke learned her rent was increasing by $617 per month. U.S. demand for grocery delivery is cooling as prices for food and other necessities rise.news.yahoo.com
Man walks out of Target with hundreds of dollars’ worth of Legos without paying, police say
LEGO Fun Facts LEGO Fun FactsPolice in Massachusetts said an 18-year-old man tried to walk out of a Target with a cart full of Lego boxes without paying for them. Asset production workers tried to stop Jean-Baptiste when he tried to leave the store while pushing a cart filled with Lego kits and other items. An 18-year-old was arrested after police say he stole hundreds of dollars worth of Legos from a Massachusetts Target over the weekend. Posted by Boston 25 News on Monday, July 18, 2022Police said Jean-Baptiste was seen running across the street and took him into custody. The value of the Legos and other items was about $880, WFXT reported.wftv.com
Theft charges dropped against men involved in deputy shooting at Osceola County Target
Video: Theft charges dropped against men involved in deputy shooting at Osceola County Target Theft charges have been dropped against two men involved in a deputy shooting at a busy Target in Osceola County. (James Tutten, WFTV.com/WFTV)OSCEOLA COUNTY, Fla. — Theft charges have been dropped against two men involved in a deputy shooting at a busy Target in Osceola County. WATCH: Teen shot by deputies outside Osceola County Target recalls moment bullets started flyingThe Osceola County Sheriff’s Office said 18-year-old Michael Gomez and 19-year-old Joseph Lowe stole Pokémon cards and pizza from the Target on 192 in April. WATCH: ‘This is insanity’: Attorneys for men shot at outside Target push Osceola County sheriff for answersProsecutors determined the two theft cases were not suitable for prosecution. WATCH: Family and friends hold vigil for men shot by Osceola County deputies outside Target storeThe shooting investigation is still in the hands of the Florida Department of Law Enforcement.wftv.com
Deadly deputy shooting at Osceola Target leads to push for transparency; questions remain
In April, Osceola County Sheriff Marcos Lopez held a brief news conference to announce his deputies had been involved in a deadly shooting in the parking lot of a Target, offering almost no details about what had happened or what led to the shooting.
Recall alert: J&M shortbread cookies sold at Target recalled over undisclosed allegens
J&M Foods voluntarily recalled nearly 1,500 7-ounce bags of Favorite Day Lavender Shortbread Cookies after a packaging error placed different cookies containing a possible allergen inside the bags. >> Read more trending newsIn a news release on Tuesday, the U.S. Food & Drug Administration said the Little Rock, Arkansas-based company erroneously packed chocolate chip cookies inside 1,464 bags earmarked for the shortbread cookies. Because of the error, the packaging does not list the presence of soy or eggs, which are allergens, the FDA stated. Consumers who are not allergic to soy or eggs can still eat the chocolate chip cookies. However, those with allergies can call J&M Foods at 800-264-2278 or Target at 800-440-0680 to receive a refund.wftv.com
Stocks rise as uncertainties keep Wall Street wobbly
Stocks are off to a higher start on Wall Street Monday, June 6, 2022 led by more gains in big tech companies. (AP Photo/John Minchillo, file) (John Minchillo)NEW YORK — (AP) — U.S. stocks are ticking higher Tuesday on Wall Street despite worries about the economy and rising interest rates that have kept markets wobbling. Gains for Apple, Microsoft and other technology stocks were some of the biggest forces driving the market higher. Lower yields in recent years have emboldened investors to pay higher prices for stocks, particularly companies that are growing quickly. Wall Street started the day with more pessimism, and stocks initially fell after Target warned of a hit to its profit margins as it slashes prices to clear out inventory.wftv.com
Too much stuff: Target slashing prices, canceling vendor orders
7 Fun Facts About Target 7 Fun Facts About Target (NCD)After months of waiting for products to be delivered, Target now has an overabundance of some merchandise. >> Read more trending newsTarget will be cutting prices on some products and canceling orders of others that it had submitted, all in an effort to reduce a growing inventory, The Associated Press reported. Target didn’t give specifics on discounts or the orders that were being canceled, the AP reported. There is no word on whether Walmart will take a similar path and offer similar items as Target at a deep discount in this quarter. Macy’s is also dealing with excess inventory in some departments, and is marking down prices on some items, Fox Business reported.wftv.com
Stocks turn higher on Wall Street, led by Big Tech companies
Stocks are off to a higher start on Wall Street Monday, June 6, 2022 led by more gains in big tech companies. (AP Photo/John Minchillo, file) (John Minchillo)NEW YORK — (AP) — Stocks turned higher in late morning trading on Wall Street Tuesday as solid gains from big technology companies helped shake off an early loss. Energy companies also made solid gains as oil prices ticked higher. The price of U.S. crude oil rose 1.1% and Exxon Mobil leaped 3%. Those higher prices have squeezed consumers, who are trimming their spending on high-priced items as they spend more on necessities like food.wftv.com
Stocks falling on Wall Street as inflation anxiety persists
Markets Pedestrians pass the New York Stock Exchange, May 5, 2022, in the Manhattan borough of New York. Stocks are off to a higher start on Wall Street Monday, June 6, 2022 led by more gains in big tech companies. (AP Photo/John Minchillo, file) (John Minchillo)NEW YORK — (AP) — Stocks fell in morning trading on Wall Street Tuesday as rising interest rates and inflation raise concerns about economic growth. The Federal Reserve has responded by pivoting from a policy of maintaining low interest rates during the pandemic to aggressively raising interest rates to slow economic growth and temper the impact from inflation. Big daily swings have become the norm for markets as investors review government data and corporate updates on inflation.wftv.com
Target warns of profit drop as moves to purge excess inventory
Placeholder while article actions loadTarget warned Tuesday that it has far too much inventory, forcing it to drop prices, cancel orders and cut its profit outlook to clear out the excess. The retail giant’s plan to “right-size” its offerings comes as consumers are being hammered by soaring food and fuel prices, leaving far less for discretionary spending. The Minneapolis-based chain cited supply chain pressures and rising expenses, factors that also hurt Walmart and helped spark a broader market sell-off that erased more than 1,100 points off the Dow Jones industrial average. AdvertisementTarget said Tuesday it is taking unspecified “pricing actions” to help offset unusually high transportation and fuel costs, and also working with suppliers to shorten travel distances in its supply chain. It is also adding “incremental holding capacity” near U.S. ports to make sure it can handle a future spike in inventory.washingtonpost.com
Wall Street, global markets fall in wake of bond sell-off
Stocks are off to a higher start on Wall Street Monday, June 6, 2022 led by more gains in big tech companies. The market price of a 10-year Treasury bond fell, increasing its yield, or the difference between the day’s price and the payout at maturity. The Treasury yield is moving toward its levels from early and mid-May. Then, it reached its highest point since 2018 amid expectations for the Federal Reserve to raise interest rates aggressively. The yen has weakened because Japanese interest rates have stayed near record lows while U.S. and European rates rise.wftv.com
Family and friends hold vigil for men shot by Osceola County deputies outside Target store
Video: Family and friends hold vigil for men shot by Osceola County deputies outside Target Family and friends held a vigil Friday night for the four teens who were shot by Osceola County deputies outside a Target store. (WFTV)OSCEOLA COUNTY, Fla. — Family and friends held a vigil Friday night for the four teens who were shot by Osceola County deputies outside a Target store. Deputies later confronted and shot at them outside the store. Photos: Family and friends hold vigil for men shot by Osceola County deputies outside Target storeExpand Autoplay Image 1 of 11 Family and friends hold vigil for men shot by Osceola County deputies outside Target storeJayden Baez died, and Joseph Lowe lost part of a finger. WATCH: Teen shot by deputies outside Osceola County Target recalls moment bullets started flying“We will not continue to be shot down in the street like animals, despite what has been done, whatever crime,” someone at the vigil said.wftv.com
Epic goods-buying spree wanes, as consumers ramp up services spending
For more than two years, while Americans rode out the pandemic by bingeing on televisions, furniture and home improvements, businesses that relied on face-to-face commerce suffered. Now, consumers are returning to their pre-pandemic habits with the balance between goods and services spending back to where it stood in May 2020.washingtonpost.com
Best Buy lowers outlook as Q1 results show inflation's bite
The nation’s largest consumer electronics chain also on Tuesday, May 24, 2022 cut its annual outlook, citing a deteriorating economic environment. Best Buy follows other major retailers like Walmart and Target in reporting that inflation has taken a bite out of earnings. Neil Saunders, managing director at GlobalData Retail, said given the multitude of challenges, Best Buy fared reasonably well. Best Buy, based in Richfield, Minnesota, reported fiscal first-quarter net income of $341 million, or $1.49 per share. Best Buy shares have declined 29% since the beginning of the year, while the S&P’s 500 index has fallen 17%.wftv.com
US stocks got close to a bear market. Here’s what that means
Here are some common questions asked about bear markets:___WHY IS IT CALLED A BEAR MARKET? The Nasdaq is already in a bear market, down 29.3% from its peak of 16,057.44 on Nov. 19. The most recent bear market for the S&P 500 ran from February 19, 2020 through March 23, 2020. That includes two separate days in the middle of the 2007-2009 bear market where the S&P 500 surged roughly 11%, as well as leaps of better than 9% during and shortly after the roughly monthlong 2020 bear market. The biggest decline since 1945 occurred in the 2007-2009 bear market when the S&P 500 fell 57%.wftv.com
A bear market is hitting Wall Street. Here’s what that means
The stock market's skid this year has pulled the S&P 500 within the grasp of what's known as a bear market. Here are some common questions asked about bear markets:___WHY IS IT CALLED A BEAR MARKET? The Nasdaq is already in a bear market, down 31% from its peak of 16,057.44 on Nov. 19. The most recent bear market for the S&P 500 ran from February 19, 2020 through March 23, 2020. Many of the best days for Wall Street have occurred either during a bear market or just after the end of one.wftv.com
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
Jump in hiring fuels optimism for US economic recovery
That is down dramatically from 14.8% last April, just after the virus erupted in the United 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. Sounding an optimistic note, he said: “There’s good reason to expect job creation to pick up in the coming months."
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.
Target to open mini Apple shops in some stores
Target to open mini Apple shops in some storesTarget is expanding its partnership with Apple by launching mini stores within the big box retailer. Target says these scaled-down versions of Apple stores are opening in the coming months. They will be in 17 stores in Texas, Florida, New York, Massachusetts and Pennsylvania. [TRENDING: How plants solve rapes, murders | Swastikas found on Fla. playground | Proposal seeks major changes to Bright Futures]Target says it will have an expanded assortment of products and staff will receive specialized training from Apple. AdCustomers will still need to visit an Apple store for repairs.
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
(AP Photo/John Raoux)NEW YORK – Retail sales fell for a third straight month as a surge in virus cases kept people away from stores during the critical holiday shopping season. The U.S. Commerce Department said retail sales fell a seasonally adjusted 0.7% in December from the month before. Department store chain Nordstrom, lingerie seller Victoria’s Secret and clothing retailer Urban Outfitters all said sales fell during the holidays. The Commerce Department said shoppers cut back on spending at electronic and department stores. At clothing stores, sales rose 2.4% after dropping 16% for the year.