Consumer confidence dropped in April to a three-month low amid discouraging economic indicators, according to the Thomson Reuters/University of Michigan Survey of Consumers.
Giving a much-needed boost to J.C. Penney Co., George Soros’ Soros Fund Management bought 17.4 million shares of the troubled retailer, according to a filing with the Securities and Exchange Commission.
The U.S. Senate voted to move forward with the Marketplace Fairness Act, legislation that would allow states to force retailers to collect online sales taxes, if the states choose to do so.
Christopher Finazzo, 57, who was an executive VP and chief merchandising officer at Aeropostale, was found guilty on Thursday of 14 counts of mail fraud, one count of wire fraud and one count of conspiracy.
Starbucks Coffee Company reported that its second-quarter profit rose 26% to $390.4 million, up from $309.9 million last year, amid sales increases in the Americas and Asia regions.
