Ron Johnson's ousting as CEO of JC Penney ends his bid to break retail's cycle of marking products up just to mark them down in sales. Shoppers rejected Johnson's strategy of keeping low prices instead of discounting.
The CIA has reportedly recruited Amazon to develop a private cloud for American intelligence gathering. So is there any sector Amazon isn't involved in these days?
The fashion market for fake fur has grown so fast that some suppliers are meeting the demand with real fur. Retailers as large as Nieman Marcus have been caught up in the faux faux fur kerfuffle.
Lululemon shares were down this morning after the yoga-apparel maker announced yesterday that some of its pants are see-through due to a supplier mistake.
J.C. Penney seriously needs to catch a break right now. Shoppers were scared off when the chain eliminated big sales in favor of everyday low prices. Now, Penney's will open 681 'Joe Fresh' shops inside their main stores.
Retail sales ticked up by 1.1 percent last month according to the Commerce Department. The growth was better than expected, despite higher gas prices and the payroll tax increase that went into effect at the beginning of the year.
