Retail

Big-box retailers enjoying strong sales and profits over the last couple of weeks partially attribute their success to pre-COVID-19 pandemic efforts to take on e-commerce giant Amazon.

Best Buy reported earnings and revenue that outpaced expectations as customers stocked up on products useful for sheltering at home.

Sources said a small number of stores are slated to reopen as soon as the end of August and will operate on an appointment-only basis for the immediate future.

French luxury goods giant LVMH and U.S. jewelry chain Tiffany will give themselves another three months to complete their $16.2 billion tie-up after the deal did not close on the Aug. 24 date set out in deal documents, a source familiar with the discussions said.

James is a native of Akron, Ohio, the same city in which Goodyear has its headquarters.

Deere now expects net income of about $2.25 billion for the full year, higher than $1.6 billion-$2 billion estimated earlier.

It's 7-Eleven's most popular flavored hot beverage.

"Upon discovering this inconsistency, we immediately retained a leading forensic analysis firm to promptly investigate the matter," Instacart said. "The results of our joint investigation confirmed that these two individuals viewed a limited set of shopper information that may have included name, email address, telephone number, driver’s license number, and a thumbnail image of the driver’s license."

Goodyear CEO Rich Kramer said presentation slide “was not approved or distributed by Goodyear Corporate or anyone outside of that facility.”

Quarterly earnings released this week by major retailers revealed consumers are spending less on food and essentials and more on furniture, electronics and other big-ticket items. 

After announcing blowout earnings earlier this week, Target said it would expand its grocery pickup service around the country.

Estée Lauder is planning to lay off 1,500 to 2,000 employees and close 10 to 15 percent of its 1,500 freestanding stores globally, the makeup company announced Thursday.

The president accused Goodyear of "playing politics" and discussed his call for a boycott of the brand at the White House briefing.