Kohl’s online sales surge amid lockdown, reopens about half of its stores
Kohl’s Corp reported a surge in online sales in its coronavirus-hit first quarter on Tuesday and said it had reopened nearly half its stores as lockdowns eased across the United States, sending its shares around 5% higher.
Phlow gets $354 million U.S. funding to ensure drug supply amid COVID-19 pandemic
U.S. drug manufacturer Phlow said on Tuesday it had received $354 million from the government to speed up the manufacturing of drugs being tested and used to fight the new coronavirus.
Asda’s first-quarter sales boosted by coronavirus stocking-up
Asda, the British supermarket arm of the world’s biggest retailer Walmart , said on Tuesday its first-quarter comparable sales rose 3.5%, boosted by consumers stocking-up on food in response to the coronavirus crisis.
Home Depot misses profit estimates as coronavirus costs weigh
Home Depot Inc missed estimates for quarterly profit on Tuesday, as the home improvement chain spent about $850 million on benefits for employees keeping its stores and warehouses running through the COVID-19 pandemic.
Walmart’s same-store sales rise 10%, online revenues surge
Walmart Inc’s first-quarter U.S. comparable sales rose 10% and the retailer reported a 74% rise in online revenue on Tuesday as stockpiling of groceries and other staples drove consumers to its stores and website during the coronavirus-related lockdow…
Southwest says bookings outpace cancellations in May
Southwest Airlines Co said on Tuesday it recorded positive bookings on a net basis so far this month as passenger reservations outpaced trip cancellations, helping the company slow its cash burn rate.
Kohl’s losses surge on coronavirus closures
Kohl’s Corp reported a bigger-than-expected loss on Tuesday, as the department store chain’s stores remained shut for most of the first quarter due to the COVID-19 lockdowns.
Oil steady on signs of output cuts but demand concerns weigh
Oil prices were steady on Tuesday amid signs that producers are cutting output as promised while traders awaited more clarity on the demand picture as some countries ease out of lockdowns.
As coronavirus crushes small restaurants, big chains see room to move in
Prime storefronts left empty by failed businesses. Cheaper or even flexible rents. Landlords willing to add drive-thru lanes.
Few U.S. oil and gas firms return small-business COVID-19 loans
U.S. securities filings show that only four of 12 listed oil and gas companies that received emergency government aid made available for small businesses said they would return it ahead of a deadline for firms that do not need the funds to do so.
