Tag: Hit

California theme park closures hit jobs, shops, budget

Disneyland

Chris Carlson / AP

In this March 18, 2020, photo, one of the normally bustling entrances to the Disneyland resort is vacant due to the coronavirus closure in Anaheim, Calif.

California’s amusement parks have been pining to reopen for months, hoping to bring back thousands of workers sent home in March when the coronavirus pandemic forced them to close their gates.

Now that state health officials announced strict new rules for reopening the parks, attractions spanning from Disneyland to Universal Studios are bracing for an even longer shutdown

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Amazon Prime Day Kicks-Off Holiday Shopping Projected To Hit $9.9 Billion

Holiday 2020 will be an extended shopping season starting with Amazon’s
AMZN
Prime Day on October 13th and 14th. Many other retailers will be following suit to compete for the customer’s dollars over the two-day period. Last year Amazon Prime Day raked in $6.93 billion worldwide and is projected this year to do $9.91 billion. The Prime Day event will be the top day in terms

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Paseo Nuevo Shopping Mall Hit with Triple Whammy

After three public meetings that consumed no less than 15 hours, the Santa Barbara Planning Commission had a unanimous one-word answer for owners of the Paseo Nuevo shopping center: “No.” Specifically, the commissioners rejected a development agreement that would have extended the mall owners’ master lease with City Hall — which technically controls the land under the mall — by 28 years. Currently, the mall lease expires in 2065, and the owners are asking for an extension that would take them to 2093.

In light of massive changes afflicting retail shopping in general and the direction of State Street more

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Amazon’s foray into luxe fashion will hit struggling department stores

Amazon announces the launch of Luxury Stores.

Source: Amazon

Amazon’s foray into luxury fashion is the latest blow this year to U.S. department stores, which have been hit especially hard by the coronavirus pandemic

The e-commerce company announced Tuesday the launch of a section on its mobile app called Luxury Stores, kicking off with items from designer Oscar de la Renta’s pre-fall and fall-winter 2020 collections. It said additional luxe fashion brands will be added to the app in the coming weeks. 

Only Amazon Prime members will initially be able to shop this section by invitation, according to Amazon.

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There’s a wave of selling estimated to be in the billions that’s about to hit the stock market

A jogger passes in front of the New York Stock Exchange (NYSE) in New York, on June 17, 2020.

Michael Nagel | Bloomberg | Getty Images

With the S&P 500 up more than 21% for the quarter so far, strategists are handicapping the likelihood that pensions and other funds and investors will sell some of their big stock market gains and buy bonds in the course of the next week.

Estimates of how much could move out of the stock market are wide ranging and JPMorgan analysts say if stocks lose ground as a result, it would be a buying

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