The coronavirus and online shopping are forcing brick-and-mortar retail stores to close, often for good.
Jul 6, 2020 - Economy & BusinessThat could benefit budget names like Ross and Kohl's.
May 19, 2020 - Economy & BusinessFashion is a massive polluter.
Mar 7, 2020 - Economy & BusinessIf Main Street is going to be saved, enduring American vanity will be among the primary reasons.
Updated Jan 12, 2019 - Economy & BusinessPhoto: Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images
Coppertone announced Friday that it is recalling five of its aerosol sunscreens after finding benzene, a cancer-causing chemical, in some batches.
Why it matters: Exposure to benzene can result in an increased risk of cancer, depending on the level and extent of exposure, but the daily exposure levels detected in Coppertone aerosol sunscreens aren't expected to cause "adverse health consequences," according to the announcement.
The McRib is back — even though pork prices are much higher than they were during previous seasons.
Why it matters: A popular theory holds that the McRib only appears when hog prices hit a low point:
"The McRib’s unique aspects and impermanence, many of us believe, make it seem a likely candidate for being a sort of arbitrage strategy. ... In this equation, the undervalued good in question is hog meat."
Willy Staley, The Awl, 2011
Between the lines: The McRib seems to have been consistently introduced at low points in the price of pork. Even this time around, the reintroduction comes only after pork prices have fallen significantly.
Photo: Fabian Strauch/picture alliance via Getty Images
The U.S. Consumer Product Safety Commission and the Boppy Company are recalling over 3 million baby loungers after reports of eight infant deaths.
The big picture: The infants' deaths, which occurred between December 2015 and June 2020 according to the CPSC, were linked to three newborn lounger models. The infants reportedly suffocated after being placed on their back, side or stomach on the lounger and were found on their side or on their stomach.
Consumers defied expectations and shopped at an increasing rate amid a resurgence in COVID-19 cases.
Why it matters: Several measures of consumer confidence fell sharply in August, suggesting consumer spending could fall during the month. In fact, concerns about the Delta variant's impact on the economy had prominent Wall Street economists cutting their expectations for Q3 GDP growth.
Runners in front of the New York Stock Exchange this week. Photo: on-running.com
Investors rushed to buy shares this week of running shoes company On in its stock market debut, amid new signs that consumer spending remains resilient.
Why it matters: Apparel sales rebounded earlier this year as the economy reopened — and buying athletic apparel, especially sneakers, is one pandemic habit that’s not dying out.
Shoppers in San Francisco. Photo: David Paul Morris/Getty Images
This holiday season, e-commerce sales in the U.S. will likely be 50% higher than 2019 levels. Brick and mortar retailers' sales will also be up over the same period, but by just 9%, estimates a new Deloitte report released this morning.
Why it matters: The pandemic drove businesses and consumers online — habits that are sticking around for the long term.
Illustration: Rae Cook/Axios
Plant-based meat firms aren't just going after vegans and vegetarians anymore. They're betting that closely mimicking the taste of meat will let them chip away at the meat-eating market too.
Why it matters: Diets that include meat — especially beef — have a steep climate impact. If plant-based protein gains popularity, more and more people could reduce or even halt their meat consumption.
Salesforce logo. Photo: Jeremy Moeller/Getty Images
Salesforce will help employees who want to leave Texas after a law that imposed a ban on abortions after six weeks went into effect this month, CEO Marc Benioff said on Friday.
Why it matters: Salesforce is the latest company to take action against the law that's known to be one of the most restrictive abortion bans in the U.S.
Impossible Chicken nuggets at Fuku in New York City. Photo: Katelyn Perry/Impossible Foods
Impossible Foods is out with a chicken nugget that closely mimics the taste and texture of the American fast food favorite.
Why it matters: Plant-based meat companies aren’t just after the vegan and vegetarian market. They’re thinking much bigger.
A restaurant window. Photo: David Paul Morris/Bloomberg via Getty Images
Bars and restaurants went from powering America’s jobs comeback to slowing it down.
Why it matters: The industry is a proxy for how the labor market and economy are faring amid the pandemic.