Take Five: For two decades, trade expansion has fueled rapid global economic growth. But with trade volumes contracting and the Sino-U.S trade war nearing its two-year anniversary, how will world growth be affected next year?
U.S. retailers launch annual Black Friday sales on Nov 29, ushering in the high-stakes holiday shopping season for store chains that are struggling to adapt to shrinking mall traffic.
Recent quarterly reports illustrate that gulf. Shares in Target for instance surged to record highs after it raised full-year earnings forecasts, but department stores Macy’s and Kohl’s cut their outlooks ahead of the holiday season. Macy’s shares extended their losses for 2019 to 50%. Nordstrom, GAP and Kohl’s shares are all down by more than 25% this year.
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