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It's been a brutal week for many big American retailers.JCPenney announced Friday that it will cut 360 jobs at its stores and corporate headquarters. That's on top of the more than 5,000 layoffs in 2017 after JCPenney decided to close nearly 140 stores.The struggling retailer also said that its earnings and sales for this year will be worse than what Wall Street analysts were expecting. Shares of JCPenney plunged nearly 10% in early trading.JCPenney wasn't the only prominent bricks and mortar chain to report poor results this week.Barnes & Noble posted a quarterly loss and a drop in sales Thursday morning, sending the bookstore's shares to an all-time low.Victoria apparently needs a new Secret too. L Brands, the owner of the lingerie seller and Bath & Body Works, plunged 14% Thursday after its outlook turned out to be more devilish than angelic.Nordstrom, which is trying to go private, failed to impress investors with its latest results after the closing bell Thursday. Its stock fell 6% Friday morning.And the other shoe dropped at Foot Locker. The sneaker and athletic apparel company's sales missed forecasts and its outlook was weak as well. Foot Locker's stock dove 7% Friday morning.Related: The one sector of retail that's hiring -- a lotAll this bad news comes at a time when the retail industry is undergoing a massive transformation as more and more consumers shop online.People are still spending. They are just doing so on their phones as opposed to at the mall.That's been great for e-commerce leader Amazon, which has continued to post impressive sales growth. Its stock is also up more than 25% this year and is near a record high.Coye Nokes, partner in the consumer and retail practice at strategy consulting firm OC&C, said that the threat from Amazon is clearly the biggest challenge for most traditional retailers."Amazon is still coming and it is entering even more categories," she said.But she added that there are some retailers that have been fighting back and have done a good job of boosting their own digital operations.Related: Macy's is back! Stock up on solid salesMacy's shares rallied earlier this week after the iconic retailer topped analysts' forecasts and said that online sales continued to grow at a double-digit pace.Best Buy also posted strong sales in its stores and digital operations on Thursday. The electronics retailer's stock even rose 4% while the broader market tanked on fears of a global trade war.And there are other traditional retailers that are holding up well.Gap shares bucked the market's downward trend Friday, rising 5% after it posted solid results. The Gap's Old Navy brand is on fire. Its same-store sales were up 9% during the holiday quarter.Department store chain Dillard's topped forecasts earlier this week too, sending its shares up nearly 17% on the news.So it's not all doom and gloom for retail. The industry is in the midst of a shakeout that will lead to some casualties and some big winners. But the American consumer is still alive and well.The-CNN-Wire? & ? 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved. 3147
In one of the more bizarre episodes of the midterm elections this year, the race for Virginia's 5th Congressional District has come down to a fight over "Bigfoot erotica" and whether one candidate is into it.Democratic candidate Leslie Cockburn tweeted on Sunday that, in addition to campaigning with a white supremacist, Republican candidate Denver Riggleman was "a devotee of Bigfoot erotica" -- both charges that Riggleman denied in an interview with CNN."My opponent Denver Riggleman, running mate of Corey Stewart, was caught on camera campaigning with a white supremacist. Now he has been exposed as a devotee of Bigfoot erotica. This is not what we need on Capitol Hill," Cockburn tweeted along with a photo of a nude Bigfoot, apparently from Riggleman's Instagram.Riggleman, however, told CNN that the accusation about a sexual interest in Bigfoot was absurd and acknowledged writing two books on Bigfoot, including an unpublished text called "The Mating Habits of Bigfoot and Why Women Want Him," both of which he said were "parody" and stemmed from running jokes he had with friends from the military.Riggleman also said did not believe in Bigfoot, but added that he did not want to "alienate" the Bigfoot vote and said the entire thing was a joke that his opponent had seized upon unfairly."I think we probably jumped the shark on stupid," Riggleman said.Riggleman's Bigfoot history seemed to have first gained traction after The Cook Political Report noted it in its recent overview of House races. The report pointed out that the Facebook author page for the Bigfoot book had recently been deleted and that Riggleman's Instagram was set to private, but used to be "peppered with images of what can only be described as Bigfoot-themed erotic art."In a statement, Cockburn campaign manager Louise Bruce accused Riggleman of "scrubbing his social media of 'Bigfoot erotica' and who knows what else."Riggleman said they put his Instagram on private to avoid "weird comments," but at this point that was past them, so they would look at making the account public again.As the Bigfoot story gained traction online, the Riggleman campaign seemed to lean into it by sharing a video?from conservative-libertarian activist Matt Kibbe posted on Monday afternoon in which Riggleman played up the strange news cycle and went into a pretty extensive explanation about different "Bigfoot belief systems.""Check out this video on my research into the Bigfoot myth," Riggelman tweeted. "I sure don't know what Bigfoot Erotica is, @LeslieCockburn knows more about that than I do apparently - but I can talk about Bigfoot theories all day. See the video here #bigfoot #va05." 2687
INDIANAPOLIS (AP) — University of Notre Dame students are now subject to mandatory coronavirus testing with stricter penalties if they leave town before getting their test results after thousands of fans stormed the football field and threw parties to celebrate a double-overtime upset over Clemson.Notre Dame President, the Rev. John Jenkins, said in an email Sunday that students must undergo coronavirus testing before leaving South Bend, Indiana, for the winter break.Jenkins says if a student is exposed or tests positive, they must quarantine on campus for two weeks. Students who don't complete the test can't register for classes.According to the Associated Press, students will face "severe sanctions" if they host a large gathering.As of Monday afternoon, the university's online COVID-19 dashboard showed six new cases reported on Sunday, giving the school 1,382 total positive cases among students and staff members. Of that total, the school estimated 221 active cases.In a resolution passed Thursday, Notre Dame's Faculty Senate formally expressed disappointment in Jenkins for failing to wear a mask at Amy Coney Barrett's nomination ceremony at the White House Rose Garden, the AP reported. Jenkins tested positive for COVID-19 in October. 1263
It was back in March when cleaning items started disappearing from grocery stores, in the initial pandemic panic.Remember the runs on toilet paper? For three months, you couldn't find any.But here we are, six months later, and many items are still in short supply."Sometimes bleach, and paper towels," one grocery shopper told us. "Clorox wipes we cannot find," another said.But disinfecting items are just the beginning of the waves of product shortages that have hit during this year of COVID-19, and much of it has nothing to do with panic buying.So we checked into 10 things still in short supply, and why they remain so elusive.1. Lysol and Clorox wipesNext to hand sanitizer (which is now readily available), disinfecting wipes remain the Holy Grail of grocery items these days.But with hospitals, schools, and businesses snapping them up by the truckload, grocery shoppers will be among the last in line to get them as long as the pandemic rages.You can add Lysol, Clorox bathroom cleaner, Scrubbing Bubbles, and Formula 409 to the list, for the same reasons.2. Paper towelsUnlike toilet paper, which is now readily available, paper towels remain hard to find.Paper producers devoted the summer to increasing toilet paper production, and now there is almost too much. Some stores put toilet paper where cleaning products used to be to fill empty shelf space.But paper towels are bulky to ship, and manufacturers have not increased production as much, according to the Wall Street Journal. So don't expect much to change soon.And they are as in-demand as all cleaning products.3. Yeast and baking flourThe springtime lockdown saw millions of Americans turn to baking, and that in turn led to huge shortages of baking products. Luckily, these shortages are just about over, as we return to bakeries and restaurants.4. Canning jars and lidsWith worries of food shortages that never happened, millions of people started growing tomatoes and other vegetables that now need to be harvested and canned.The result: an uncanny shortage of canning supplies that is expected to linger through the winter. Expect to pay a lot for canning lids, especially.5. BicyclesThis may be the biggest shortage of all, next to Clorox wipes.Beth Tessler was shopping for a bike recently. But the showroom floor was empty, save for small children's bikes and high-end racing bikes, leaving her stunned by the prices."The cheapest bike we found was ,000," she said. "The most expensive was ,500."Store manager Terry Powell said mid-priced Bianchi and Schwinn bikes are on back order."Demand has been through the roof this year," he said. "A lot of people have been pulling old bikes out of barns and garages and trying to get them fixed up because they can't find the bicycle they are looking for."6. Swimming poolsJust like with bicycles, stay-at-home orders meant people needed activities to do at home. So all spring, they snapped up above-ground and in-ground pools.You now may have to wait several months to have an in-ground pool installed.7. AppliancesWhen it comes to appliances, things are not as tough as finding a bicycle. But still, if you are looking for a specific French-door fridge with two drawers and water in the door, you might have to settle for something else.Jeffrey Boggs owns an appliance shop where every day he deals with customers frustrated by kitchen appliances on back order."It started with freezers, and it's gradually getting into every appliance," he said. "Microwave, range, everything is difficult to get right now." He blames two factors: plant shutdowns this spring, and shipping delays from China.He said you can find a fridge or washer if you need one, but don't have your heart set on one particular model.With factories up to full steam again, he expects supplies to rebound this fall.8. Laptops, children's desksYou can thank remote, Zoom learning for this shortage. Inexpensive laptops and Chromebooks are very hard to find, as parents and schools snapped them up all summer.Stores predict shortages should ease by Black Friday. Until then, be careful buying from unknown web sellers.9. CoinsIf you have been Krogering the past two months, you probably have seen signs warning of a coin and change shortage, but it's more than an inconvenience.Jamie Lusk owns a laundromat. He struggles to keep quarters in stock."My customers use quarters to run these machines," he said. "And when I can't go to the bank to purchase quarters, then they can't run the machines."10. Beer and Coke cansThis one is not a current shortage that is just starting to get worse: aluminum cans are in short supply.Craft brewer Scott LaFollette is concerned about the sudden aluminum can shortage, which is forcing breweries to wait longer and pay more for their shipments."It is just in the beginning stages, so it's probably going get much worse before it gets better," he said.The good news: there is no shortage of beer, and if you don't mind glass, there is plenty of beer to drink.You might need a drink just keeping up with all the new shortages that seem to pop up every week.As always, don't waste your money.___________________________Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").Like" John Matarese Money on FacebookFollow John on Instagram @johnmataresemoneyFollow John on Twitter (@JohnMatarese)For more consumer news and money saving advice, go to www.dontwasteyourmoney.com 5439
It has been more than two weeks since the Camp Fire devastated parts of California, especially the community of Paradise, but for one pet owner, not all was lost. Andrea Gaylord had to go several weeks not being allowed to return home due to the fire, which was the deadliest in California history. When Gaylord returned home on Wednesday, her dog was there waiting for her. According to KXTV, lost her home in the Camp Fire. But she considers herself fortunate. "You could never ask for a better animal," Gaylord told KXTV. "You really couldn't."Gaylord had some assistance from an animal rescue volunteer who was allowed inside of the evacuation zone. Shayla Sullivan took care of Gaylord's other dog Miguel, which is also Madison's brother. Sullivan would leave food and water at what was left of Gaylord's home in hopes that Madison would come around. Gaylord said when she pulled up to her home in Paradise, Madison was there waiting for her. "Imagine the loyalty of hanging in in the worst of circumstances and being here waiting," Gaylord told KXTV "It was so emotional." 1121