Pandemic highlights big box stores' ability to pivot
NEW YORK Late last year, Best Buy began testing curbside pickup at select stores as a way to respond to customer needs. Macys sales were down 45% and the company says it could have a loss of at least $1 billion in the quarter. Still, it shows how the pandemic is deepening the divide between big box stores and mall-based clothing chains. Target's CEO Brian Cornell said its stores were directly involved in supplying goods for 80% of online sales. It expects another 80 Macys stores to open for Memorial Day weekend and most of its stores, including its flagship stores in Manhattan, to open in mid-June.
Asian shares mixed as virus worries counter recovery hopes
Asian shares were mixed Wednesday as market players waffled between hopes for recovery as economies gradually reopen and worries over the havoc wreaked by the pandemic. (AP Photo/Ahn Young-joon)TOKYO Asian shares were mixed Wednesday as market players waffled between hopes for recovery as economies gradually reopen and worries over the havoc wreaked by the pandemic. A late-day slide erased early strength in technology stocks and companies that rely on consumer spending. Investors are betting that the economy and corporate profits will begin to recover from the coronavirus pandemic as the U.S. and countries around the world slowly open up again. In other dealings, benchmark U.S. crude oil fell 4 cents to $31.92 a barrel in electronic trading on the New York Mercantile Exchange.
These big-name stores are reopening in Texas
SAN ANTONIO – Best Buy has started allowing customers into 11 San Antonio stores by appointment only. Burlington stores in San Antonio reopened May 15. There are seven Burlington stores in the area; for more information, click here. Ross will reopen its nearly 20 stores in the San Antonio area on May 20, according to its website. TJ Maxx has reopened its stores in San Antonio, New Braunfels, Austin, Cedar Park, and Georgetown, according to its website.