American companies spent years in an economic boom. Then the coronavirus hit.


A man walks past a store going out of business on May 5, 2020 in the Brooklyn borough in New York City.

Angela Weiss | AFP | Getty Images

The U.S. economy was slowing last year, but many companies entered 2020 with reasons to be optimistic and expansion plans to match.

Hotel construction around the country had never been busier. Airline employment continued to climb to the highest levels in more than 16 years. Retail sales in December were up for a third straight month. And consumer spending reached an annual record of $13.28 trillion in 2019. 

Then coronavirus hit.

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Target sees ‘Cyber Monday’-sized online sales boom during pandemic


Target has seen a sharp increase in online sales, as shoppers try to limit time inside stores or avoid the trips altogether during the coronavirus pandemic, CEO Brian Cornell said.

That trend has worked in the discount retailer’s favor, and it expects to emerge from the coronavirus pandemic having gained market share, Cornell said in a call with reporters.

Since its fiscal first quarter began Feb. 2, Target’s same-store sales have risen more than 7%. The gain, which compares with an increase of 1.5% in the fiscal fourth quarter, is the result of a doubling of its online sales, partially

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Telco shares are surprise losers as lockdown drives internet boom


SINGAPORE/BERLIN (Reuters) – As lockdowns worldwide drive a surge in internet use, boosting online sales for businesses as varied as gaming and food delivery, the stocks of internet providers are an unlikely laggard on global markets.

FILE PHOTO: A woman wearing a protective mask uses her mobile phone, as a coronavirus outbreak continues to grow in northern Italy, in Turin, Italy, February 27, 2020. REUTERS/Massimo Pinca

In Asia, Africa, Europe and the Americas, a combination of high fixed costs, debt and market disruption has left telcos significantly underperforming the data-hungry businesses their networks carry.

“It’s a bit of a surprise,”

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Drive-ins boom as movie theaters close


Only 5% to 10% of drive-ins across the U.S. are able to operate through the coronavirus, but they are seeing new business.

Joe Sohm | Visions of America | Universal Images Group via Getty Images

The coronavirus pandemic has led to the closures of movie theaters across the country and the delay of coveted 2020 blockbusters like Disney and Marvel Studios’ “Black Widow” and MGM’s James Bond film “No Time To Die.”

But that does not mean going to the movies is out of the question.

Drive-in theaters throughout the U.S. have not only remained open, but have seen spikes

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