U.S. auto sales fell this year amidst a major pandemic. But wait until next year, says Mark LaNeve, Ford's vice president for U.S. marketing, sales and service. Ford's 3,100 Ford and luxury-brand Lincoln dealers in the U.S. sold about 2.4 million vehicles in 2019, with total industry auto deliveries topping 17 million units for the fifth straight year.

    • Updated

    General Motors will recall 5.9 million vehicles with potentially dangerous Takata air bag inflators after a U.S. safety agency said yesterday it had rejected the Detroit automaker's petition to avoid the callback. GM must recall the 2007-2014 model year trucks and SUVs because the inflators "are at risk of the same type of explosion after long-term exposure to high heat and humidity as other recalled Takata inflators," the National Highway Traffic Safety Administration said...

    • Updated

    Consumers are still shying from shared mobility and travel, and General Motors has no plans at this time to spin off its electric vehicle business despite pressure from Wall Street to do so, GM President Mark Reuss tells CNBC. Reuss says the Detroit automaker analyzed the potential of a spinoff and determined it would not be the right thing for its business, citing costs as well as the benefits of having the EV operations remain part of the larger company...

    • Updated

    General Motors yesterday said it is upping its spending on autonomous and electric vehicles by 35% to $27 billion and that 40% of its U.S. lineup will be electric by the end of 2025. GM said it will move up the scheduled launches of some EVs and introduce at least 30 EVs globally through 2025, including 20 in North America...

    • Updated

    Walmart shoppers are stocking up on products such as cleaning supplies and toilet paper as the number of COVID-19 cases and hospitalizations across the U.S. has skyrocketed in recent weeks. Out-of-stock levels are not where they were in the spring, but it was still "disappointing" to see "as many out-of-stocks as we have in consumables right now generally," according to Walmart CEO Doug McMillon...

    • Updated

    The Boeing 737 Max is nearing clearance to fly again after a 20-month ban prompted by two fatal crashes that sent the company into a crisis, but the planes are returning to a different problem. The coronavirus pandemic has roiled airline finances around the world, hurting demand for new planes and helping to drive up cancellations and deferrals. Boeing has lost $3.45 billion this year through the end of September and analysts don't expect it to get to positive free cash flow until the end of next year...

    • Updated

    Walmart has announced it is counting the number of customers in its stores to limit the spread of COVID-19. The retailer is also placing quantity limits on items such as toilet paper to prevent the hoarding that took place when the pandemic first broke out in the U.S. earlier this year...

    • Updated

    General Motors is poised to advertise in the Super Bowl for the second straight year, people familiar with the matter tell Ad Age. The automaker is expected to air one ad featuring its new Hummer electric vehicle and one ad for another one of its brands. The Hummer EV is expected to hit dealers in late 2021 with a six-figure price tag.

    • Updated

    Ford Motor expects its new all-electric Transit van to help it hold on to its lead in commercial vans as new and longtime competitors enter the emerging market. The vehicle, which Ford unveiled yesterday, is designed for commercial and work buyers. The E-Transit is expected to arrive late next year.

    • Updated

    Amazon is expanding its use of palm recognition technology at three stores in the Seattle area. The technology enables Prime members to pay for in-store purchases without having to go through a traditional checkout...

    • Updated

    Ulta Beauty will open in-store shops next to the beauty departments at more than 100 Target stores by the middle of next year, looking to appeal to pandemic-era shoppers who want one-stop options, the companies said. The 1,000-square-foot shops will sell a rotating roster of products from more than 40 fragrance, beauty and skin care brands...

    • Updated

    Pfizer said yesterday its experimental COVID-19 vaccine was more than 90% effective, a major victory in the fight against a pandemic that has killed more than a million people, battered the world's economy and upended daily life. Pfizer and German partner BioNTech are the first drugmakers to release successful data from a large-scale clinical trial of a coronavirus vaccine.

    • Updated

    Vehicle listings site CarGurus more than tripled its net income in the third quarter on a slight dip in revenue, with the company pulling back on sales and marketing expenses during the coronavirus pandemic. The company last week reported net income of $32.6 million in the quarter ended Sept. 30, up 213% from $10.4 million in the same quarter in 2019.

    • Updated

    General Motors CEO Mary Barra said yesterday the automaker will boost capital spending over the next three years to speed development of electric vehicles, funded by expanded production of high-profit pickup trucks in North America. Barra said GM was talking with automakers about partnerships to develop more vehicles using GM's battery technology. GM plans EVs "across our brands ... into affordable high volume segments," she said…

    • Updated

    Ford Motor, which stopped reporting U.S. monthly sales nearly two years ago, has reversed course and will release monthly figures for the “foreseeable future,” Automotive News reports. Ford says it wants to give investors more detail on its U.S. performance during the pandemic.

    • Updated

    Apple is set to host yet another device showcase. On Nov. 10, Apple says it will reveal more products after it just launched new iPhones in October. Apple is likely to deliver a new lineup of computers featuring its first homemade chips, reports CNBC

    • Updated

    Inspire Brands, the parent company of Arby's, Buffalo Wild Wings, Jimmy John's and Sonic Drive-in, has agreed to pay $11.3 billion in cash to acquire Dunkin' Brands, including its namesake chain and Baskin-Robbins. "Dunkin' and Baskin-Robbins are category leaders with more than 70 years of rich heritage, and together they are two of the most iconic restaurant brands in the world.

    McDonald's restaurants nationwide will put the limited-time McRib sandwich on the menu on Dec. 2, the biggest rollout of the cult favorite since 2012. The pork sandwich, which launched in 1982, comes back every year but typically on a smaller scale, and the chain has created a locator app to help fans find it…

    • Updated

    Amazon enters the holiday season on the heels of a blowout quarter that easily topped Street forecasts. The e-commerce giant reported that its net income increased to $6.3 billion, or $12.37 per diluted share, in the quarter ended Sept. 30, compared $2.1 billion, or $4.23 per diluted share, in the year-ago period. Analysts have expected earnings of $7.41 per share. Net sales increased 37% to $96.1 billion, topping estimates of $92.7 billion...

    • Updated

    Ford Motor Co. reported third-quarter net income of $2.4 billion and raised its full-year forecast even as it readies for a number of major product launches in the coming months. The automaker's adjusted earnings before interest and taxes in the quarter more than doubled from the same period a year ago to $3.6 billion, and margins jumped to 9.7%.

    • Updated

    Amazon plans to add 100,000 seasonal warehouse workers to help keep up with holiday orders, most of whom will be in California, Georgia, Maryland, New Jersey and Texas. Earlier, the company brought 175,000 workers on board to handle demand caused by the coronavirus pandemic and said permanent jobs would be offered to 70% of them...

    • Updated

    Dunkin' Brands Group confirmed it is in talks to be acquired in a move that would take it private. The parent company of Dunkin' Donuts and Baskin-Robbins said that it has held preliminary discussions to be acquired by Inspire Brands, the parent company of Arby's, Buffalo Wild Wings, Sonic and Jimmy John's. Inspire is backed by the private equity firm Roark Capital. According to The New York Times, the deal is valued at $8.8 billion...

    • Updated

    Walmart is suing the government in a pre-emptive step to avoid paying a penalty for the alleged role its pharmacies are playing in the nation's opioid crisis. Walmart is arguing in its suit that the Justice Department and the Drug Enforcement Agency lacked both the regulatory and enforcement wherewithal to stop the spread and are instead looking to make the retailer the fall guy for their failings…

    • Updated

    Toyota and Lexus production is nearly back to where it was a year ago, top Toyota Motor North America executives said yesterday, adding that they expect a continuing recovery for the industry to yield 14.5 million U.S. sales this year. That result would still be down from 17.1 million U.S. light-vehicle deliveries in 2019, but significantly above the levels of this past spring during the height of the coronavirus pandemic.

    • Updated

    Procter & Gamble blew through analyst expectations for the just-ended fiscal first quarter, with organic sales up 9% to $19.3 billion, net earnings up 19% and no signs that the dwindling effects of this spring's U.S. stimulus is making people trade down to cheaper products. P&G increased marketing spending at least $100 million last quarter, Co- Chairman and CFO Jon Moeller said on an earnings call.

    • Updated

    Lowe's is offering free delivery of fresh-cut Christmas trees and orders of $45 or more. The service is part of the retailer's Season of Savings promotion that offers discounts on appliances and a wide variety of products not normally associated with the chain, such as an air hockey table, bedding, home workout equipment and other products...

    • Updated

    CVS plans to hire 15,000 new employees, including 10,000 licensed pharmacy technicians, to help the retailer handle an expected rise in flu and COVID-19 cases this fall and winter. Licensed pharmacy techs are allowed to administer COVID-19 tests and medications...

    • Updated

    Ford is beginning production on the latest version of its F-150 full-size pickup truck, which is the bestselling vehicle in the U.S. and a crucial product for the automaker, CNBC reports. Ford's F-Series lineup of full-size trucks is the industry's leading truck brand, and the F-150 makes up the lion's share of sales.

    • Updated

    Walgreens Boots Alliance reported better-than-expected fourth-quarter earnings and sales even as the pandemic continued to cut into its income. Net income fell nearly 45% to $373 million for the quarter ended Aug. 31, from $677 million in the year-ago period. Adjusted earnings per share fell 28.2% to $1.02, ahead of analysts' estimates of $0.96. Walgreens estimated that the impact of the pandemic cut about $520 million from its operating income.

    • Updated

    Walmart will still hold in-store Black Friday deals the day after Thanksgiving starting at 5 AM, but instead of the usual chaotic crowds, there will be single-file lines. Stores will provide sanitized carts, cap the number of shoppers at 20% of regular capacity and offer omnichannel sales in three phases in November...

    • Updated

    Analysts are predicting that Amazon's Prime Day event could rake in upwards of $10 billion for the e-commerce giant. Other retailers are piling on for their own events, but positioned for the first time at the onset of the holiday season, Amazon's hugely popular event has the potential to send seismic shocks through an already seriously disrupted industry…

    • Updated

    Walmart is launching a national pilot of in-store tech services using kiosks as its answer to Apple's Genius Bar and Best Buy's Geek Squad. The kiosks will be staffed by employees of True Network Solutions, which offers in-home installation of televisions, smart home devices, computers, WiFi and other products as well as 24/7 tech support.

    J.C. Penney is moving to close 144 stores, which were previously announced in the summer, as it works toward a sale and restructuring of its business, according to court documents. After slow progress, Penney is trying to move forward on its proposed deal to sell its department store operations to Simon Property Group and Brookfield Property Partners.

    • Updated

    Dollar General is opening a new concept — Popshelf — that features beauty products, home decor and party supplies, mostly priced under $5. The small-store format is designed to appeal to women with higher incomes (up to $125,000 a year) than its namesake business.

    • Updated

    IKEA will open 50 new stores around the world this year as it continues to bet on brick-and-mortar retail, despite the rise of e-commerce. The retailer said its online sales grew 45% compared to August 2019, and consumers returned to reopened stores to outfit their repurposed kitchens and bedrooms...

    • Updated

    McDonald’s newest celebrity collaboration is with reggaeton artist J Balvin. The meal features a Big Mac, fries with ketchup and an Oreo McFlurry. Customers ordering the deal with McDonald’s app will get any size McFlurry for free. Morgan Flatley, McDonald’s U.S. CMO, said Balvin is a “trailblazing international icon” who has been a regular visitor to the chain’s locations during his concert tours...

    • Updated

    Clorox disinfecting wipes were one of the items that got snapped up by anxious consumers as the potential effects of COVID-19 began to make news. The product remains tough to find in many stores and online. “We know our products are not everywhere everyone wants them to be,” said Andy Mowery, Clorox’s chief supply officer. “It’s a point of personal frustration for me.”

    • Updated

    Halloween retailers are getting spooked about 2020. Costume shops, party stores and seasonal pop-ups that rely on Halloween for the bulk of their profits say they're bracing for a steep drop-off in sales that could tip them into insolvency. Halloween spending is expected to fall 8% to $8.05 billion, with costume sales accounting for much of the decline, according to the National Retail Federation.

    • Updated

    Starbucks has extended its work-from-home policy until October 2021 and has promised employees more flexible working arrangements when they return to their offices. The coffee giant pointed to medical guidance as the driving force behind its decision…

    • Updated

    Future Walmart Supercenters will have a variety of contactless methods for allowing customers to receive and pay for purchases. The retailer plans to roll out 200 stores with the new designs before the end of its current fiscal year ending in early 2021. Another 1,000 stores will be fitted with the new look by the end of the next fiscal year.

    • Updated

    Target has announced that it will run its Deal Days promotion on Oct. 13-14, the same days that Amazon.com will run its annual Prime Day event. The retailer also announced that it will expand its Black Friday promotions to run the entire month of November as part of a concerted effort to get consumers shopping for Christmas earlier and to spread out shopping visits to its stores and website as COVID-19 continues to hang over the retail industry...

    Kroger is following through on a promise to construct a leading-edge automated warehouse facility in the Great Lakes region. America’s largest grocery retailer, and Ocado, one of the world’s largest dedicated online grocery retailers, is building a new Customer Fulfillment Center (CFC) in Romulus, Mich.

    • Updated

    Neiman Marcus Group has emerged from bankruptcy protection, with new owners and a lot less debt. The luxury department store retailer’s restructuring plan includes the elimination of more than $4 billion of its roughly $5.5 billion existing debt and more than $200 million of cash interest expense annually.

    • Updated

    Amazon.com is expected to introduce new home security devices and Echo smart speakers featuring the company’s Alexa voice assistant technology on an invitation-only virtual event. The e-tailing and tech giant’s share of the smart speaker market is now at 54%, according to estimates from Loop Ventures

    • Updated

    Walmart is ending one-way aisles and opening a second set of doors in its stores as it departs from some of the practices it put in place when the coronavirus outbreak spread across the U.S. “We have seen that generally, customers have adopted new behaviors and take serious their personal responsibility to wear masks, practice social distancing and use our expanded hours to better spread traffic throughout the day, enabling us to provide them new options,” Walmart said...

    • Updated

    Lowe's has sped up plans to add self-service lockers in its stores across the U.S. The home improvement retailer, which currently has lockers for online order pickup near the front of 50 stores in Charlotte, Philadelphia and the New York tri-state region, expects to have lockers in place at stores in most major metropolitan areas by Thanksgiving, with the balance being added to its 1,700 locations by March.

    DSW has opened shoe shops inside two Hy-Vee grocery stores in Minneapolis. Four more are expected to go live this month. The DSW shops will be located at the front of the Hy-Vee stores and will be stocked with 3,000 to 4,000 pairs of shoes. 

    • Updated

    Walmart is instituting a new pay structure that will raise the minimum wage of hourly associates working in team leadership positions from $18 to $21. Team leaders in its Supercenters can go up to $30 an hour. The pay raises will go into effect in October.

    • Updated

    Ford Motor Co. executives say the upcoming battery-electric F-150 will be cheaper to operate and more powerful than the current gasoline-powered pickup, addressing two common concerns around electric vehicle ownership two years ahead of its debut.

    • Updated

    After six months of slumped sales because of the coronavirus pandemic, Kohl's Corp. said it was reducing its corporate workforce by around 15%. The retailer has taken a hit during the pandemic that closed all of its more than 1,100 stores this spring. Net sales were down 32.8% in the six months ending Aug. 1, the company reported in its second-quarter filings with the Securities and Exchange Commission...

    • Updated

    Walmart has launched Walmart+, a subscription that costs $98 annually, and offers free shipping, gas discounts and mobile checkout in stores. Walmart is looking to the new service to help it keep existing customers and bring in new ones that have the option of using other subscription services such as Amazon Prime.