After struggling with product shortages for much of the pandemic, the country’s retailers are now facing an unprecedented glut of unsold merchandise that’s cutting into profits, derailing holiday plans and threatening to drag down broader U.S. economic growth.
The inventory glut that dragged down U.S. retailers over the past two quarters is likely getting worse. For shoppers, that means better deals.
Target is canceling orders from its suppliers, particularly in home and clothing, while slashing prices of goods in a bold move to clear out mounds of unwanted inventory ahead of the critical fall and holiday shopping seasons.
Business inventories fell by a seasonally adjusted 0.2 percent in April, following March's gain of 0.2 percent, the Commerce Department said Wednesday.
Stanley Black & Decker’s signs finally are coming down at the Best Access Solutions building at 75th Street and Binford Boulevard after a big acquisition in February by Dormakaba Group.
Orders increased 2.1 percent following seven monthly declines, the Commerce Department reported Monday. In further good news, orders in a key category that tracks business investment plans eked out a 0.1-percent rise.
The Indy Warehouse Automation Expo will showcase new generation of scanners, cameras and radio frequency ID technology.
Businesses slashed spending on machinery and equipment in January after a tax break expired, pushing orders for long-lasting manufacturing goods down by the largest amount in three years.
Excluding transportation, orders actually fell 0.5 percent, the poorest showing in 13 months.
Total business sales rose 2.3 percent, the best showing in four months and the sixth straight gain in sales.
After plummeting along with the rest of the economy, the price of scrap metals is surging upward.
No immediate layoffs are planned at the two Indiana factories that build Toyota models included in the company’s production
halt as it looks to fix sticking gas pedals.
