As COVID-19 reshapes our economy, our newsletter will help you unpack the news from the day.
What happened to the retail apocalypse?
A shopper carries away his purchases from a Target store on Aug. 22, 2018 in Chicago, Illinois. Target today reported a 6.4 percent jump in store traffic for the quarter, the biggest increase in at least a decade. The retailer also reported a 41 percent increase in online sales for the quarter.
Scott Olson/Getty Images
About a year ago, we were doing a lot of stories about a retail apocalypse — online shopping leading to the destruction of department stores, malls, anything built out of bricks and mortar. Fast forward to this year and things couldn’t be more different. In the last few weeks, we’ve seen strong quarterly results from everyone from Target to Tiffany. Tuesday morning, Best Buy joined the crowd with strong results of its own. What’s behind all this retail strength, and what might it mean for job growth?
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Our daily newsletter unpacks what’s happening in the COVID-19 economy and what it means for you.