Even popular Ford F-Series hit hard amid plummeting industry sales
DETROIT — If anything in life is predictable, it’s steady sales of the Ford F-150.The popular pickup truck saves the day — every quarter, evey year — for Ford Motor Co.America loves its trucks. And, global pandemic or not, trucks sell.The F-Series allowed Ford to reflect the smallest second quarter sales drop of the Detroit Three.Ford reported a 33.3% drop in second quarter sales compared to 2019, from 650,336 vehicles to 433,869, the company reported Thursday. And year-to-date sales dropped 24.1% to 903,357 vehicles.“Coronavirus concerns clearly affected Q2,” Ford said in a statement.Meanwhil...
Detroit Free Press
Silverado edges out Ram in the truck wars as automakers report dismal overall sales
DETROIT — The Chevy Silverado is keeping the ever-encroaching Ram at bay in the ongoing truck wars, despite overall dismal industry auto sales in the second quarter due to the global coronavirus pandemic.On Wednesday, many automakers reported quarterly sales results that reflected the impact of idled vehicle production for most of the quarter and stay-at-home and related orders in many places hampering sales.General Motors reported its quarterly sales were down 34% and Fiat Chrysler Automobiles reported a 39% plummet in sales.Some other notable automakers to report depressing sales results inc...
Detroit Free Press
General Motors, Fiat Chrysler sales down sharply as coronavirus hammers industry
DETROIT — General Motors saw its sales drop 34% in the second quarter of the year, as the impact of the COVID-19 pandemic came more into focus.Auto production was shut down for much of the quarter and stay-at-home and related orders in many places limited sales.GM’s sales dropped from 746,659 to 492,489 for the period — April, May and June — compared with the same three months in 2019.The company’s brands all experienced declines: Buick, 36%; Cadillac, 41%; Chevrolet, 34%; and GMC, 33%. But a handful of models showed some increases, such as the new Chevy Blazer.Earlier Wednesday morning, Fiat ...
Detroit Free Press
Former Bumble Bee CEO to serve jail sentence after price fixing conviction
The former chief executive of San Diego-based Bumble Bee Foods was sentenced Tuesday to more than three years in jail and ordered to pay a $100,000 fine after a jury found him guilty of price fixing for canned tuna in a case brought by the U.S. Department of Justice.Christopher Lischewski, who ran Bumble Bee for almost 20 years, was convicted in late 2019 in U.S. District Court in San Francisco on one count of conspiracy to fix tuna prices between November 2010 to December 2013.In an interview with the Union-Tribune, Lischewski said he didn't know about a conspiracy to fix prices and prosecuto...
The San Diego Union-Tribune
Captain Comics: 'Insane bombshell' in comics distribution world
So, here’s some news: DC Comics has cut ties with Diamond Comic Distributors Inc.Yes, I hear the yawns. Most people don’t know how comic books and graphic novels get to where they buy them, nor do they care. But in this case, it turns out to be important.Here’s why: Diamond has had a virtual monopoly on distribution of comics and graphic novels to comic shops since the mid-1990s. But while Diamond was closed during the coronavirus shutdown, DC Comics (publisher of Superman, Batman, et al) announced it would continue to distribute through two new distributors it helped create. Then this week DC...
Tribune News Service
Nordstrom sales plunge 40%, but retailer touts its flexibility
SEATTLE — Nordstrom insists it is well-positioned moving forward despite reporting a 40% drop in first-quarter sales and a loss of more than half a billion dollars in a coronavirus walloping far worse than analysts expected.CEO Erik Nordstrom told analysts in a conference call after results were released Thursday that the company’s inventory reductions and increased online emphasis leave it with enough liquidity and flexibility as the nation begins to reopen. The company this month reopened nearly 40% of its stores — mostly in smaller markets — and implemented curbside pickup at most full-line...
The Seattle Times
A PPE fee at the dentist? New requirements could raise prices for patients
PHILADELPHIA — When the dentist’s office called to cancel Laura Lizcano’s appointment for a crown and cavity filling in March because of the coronavirus, she wasn’t terribly worried.The 25-year-old freelance musician didn’t know at the time that the pandemic would keep medical offices closed for months — and prevent her from getting her teeth taken care of before she lost her health insurance.Lizcano, who lives in Queen Village, will be dropped from her mother’s insurance plan at the end of May after turning 26, the age limit for children to be covered by a parent.Now, at a time when she’s los...
The Philadelphia Inquirer
Target sees biggest sales jump in 15 years, but profits take a big hit
MINNEAPOLIS — Target saw its biggest quarterly sales jump in 15 years as the pandemic spurred millions of consumers to order items online and to use its curbside pickup service for the first time.The pandemic also took a bigger-than-expected toll on its profits as sales of higher-margin apparel declined 20% and it had to write down mountains of unsold clothing as consumers dramatically shifted spending to groceries and household supplies.But CEO Brian Cornell said the Minneapolis-based retailer saw a big uptick in apparel sales in mid-April as consumers received stimulus checks.“Apparel certai...
Star Tribune (Minneapolis)
All this food with nowhere to go. Restaurant distributor finds new demand in supermarkets, carryout and home delivery
CHICAGO — Eugene Lam, vice president of Chicago Oriental Wholesale Market, watched COVID-19 shutdowns deflate demand from his biggest customers: restaurants, airlines, casinos.But orders at the food service distributor founded by his parents 27 years ago perked up in other areas.Supermarkets, normally 20% of his business, became 40% as their orders doubled and shifted to include more shelf-stable products and cleaning supplies. Restaurants offering carryout, particularly in the medical district, became a focus. The company, based in an industrial zone between Pilsen and Chinatown, struggled to...
Auto review: Affordable Nissan Sentra makes your pulse accelerate, until you hit the gas pedal
COVID-19 times are lean times. Toilet paper is priceless. Attorneys general are on the lookout for price-gouging.They won’t need to waste their time at the Nissan dealership.The loaded all-new compact Nissan Sentra SR Premium that I tested is $25,325. I’m not making that up. That includes sunroof, 18-inch alloy wheels, chrome grille, LED everything, floating black roof. Heated six-way automatic seats, heated steering wheel, automatic box, leatherette seats, Apple CarPlay and Android Auto, adaptive cruise-control, blind-spot assist, automatic emergency-braking, stitched dash with Mercedes-style...
The Detroit News