Department Stores

The global economy is in danger of entering a period of so-called stagflation, or high inflation and weak growth, policy makers and corporate leaders say, which could erode living standards around the world.Treasury Secretary Janet Yellen on Wednesday became the latest leader to warn of turbulence for the global economy. “Certainly the economic outlook globally is challenging and uncertain,” Ms. Yellen said in Bonn, Germany, ahead of a meeting of leaders of seven wealthy nations. “Higher…

Inflation is catching up with some of America’s biggest retailers, as their recent quarterly results were pinched by higher costs on everything from products to fuel. Investors dumped shares of Walmart Inc., WMT -6.79% Target Corp. TGT -24.93% and other big chains—notching some of the biggest declines since the market crash of 1987—amid fears that the companies wouldn’t be able to pass along higher prices to consumers. It has also…

Like many Americans dealing with higher gas prices, Target Corp. TGT -1.41% is being hurt by bigger-than-expected fuel and freight costs this year. Sales at the Minneapolis-based retailer increased in the most recent quarter as shoppers spent more on food and groceries and even luggage as they prepared to travel again, but supply-chain costs and inflationary pressures cut into profits. Like Walmart Inc.,…

Kohl’s Corp. KSS -2.73% shareholders rejected an activist investor’s push to replace up to 10 directors, endorsing the existing board as the retailer is exploring a potential sale. The company said Wednesday that its slate of 13 directors were all re-elected according to a preliminary tally of votes at its annual shareholder meeting. Kohl’s has been under pressure from activist investor Macellum Advisors GP LLC, which has…