All articles tagged with #shoppers
Amazon says it received about $600 million in tariff refunds after the Supreme Court invalidated some tariffs and will proactively refund affected customers where it can trace charges; timing and specifics aren’t disclosed yet. The company largely absorbed tariff costs and even stocked up on inventory, which kept refunds relatively small, while other retailers pursue refunds as well.
The U.S. has ended the 'de minimis' exemption, which allowed small packages under $800 to enter tariff-free, leading to increased tariffs on small shipments and potential impacts on consumers and international trade. The change aims to prevent smuggling and ensure fair competition for American businesses.
Shoppers are cautiously navigating the Black Friday sales, with foot traffic steady but not frenzied. Retailers are offering discounts averaging 25% to 30%, but consumers are holding out for better deals. Online sales on Thanksgiving Day reached a record $5.6 billion, with toys, jewelry, and clothing selling quickly. Retailers hope to anticipate spending capacity while shoppers expect enticing deals. Total holiday sales are expected to be softer this year due to various economic pressures. Retailers are cautious about cutting prices too deeply, but inventory positions are better than last year.
Shoppers flocked to the Citadel Outlets in Commerce, California, for the 27-hour Black Friday shopping experience, with large crowds and long lines. While many stores in Southern California were closed for Thanksgiving, most retailers at the outlet mall opened their doors in the evening. The National Retail Federation expects shoppers to spend more this year, but at a slower pace due to economic uncertainty.
Shoppers are expected to have a "ho-hum holiday" spending season as they navigate economic cross-currents, with U.S. inflation increasing for the first time in a year.
Amazon has marked down several popular kitchen products ahead of Prime Day, including the Aroma Housewares 6-Cup Rice Cooker, Dash Shaved Ice Maker, Black+Decker Countertop Blender, Doqaus Ice Cube Trays, County Line Kitchen Cold Brew Maker, Mueller Ultra Kettle, Cuisinart 12-Piece Kitchen Knife Set, and Hiware 2-Quart Glass Water Pitcher. These products have received high ratings from thousands of Amazon shoppers and are currently on sale starting at $15.
FedEx's prediction of lower profitability disappointed investors, but the fact that shoppers are still spending is good news for the company. However, this may not be good news for Federal Reserve Chairman Jerome Powell, who is trying to control inflation by raising interest rates.
Retailers are set to release their first-quarter earnings results this week, with analysts expecting a better-than-feared earnings season. However, shoppers are pulling back, and retailers are bracing for a slowdown in sales. Investors will be closely watching for any signs of weakness in the retail sector.
A person fired a gun inside a Shoppers grocery store in Prince George's County, Maryland. Police are investigating the incident and no injuries have been reported.