Target, Walmart, Amazon and Home Depot have all reported sales increases during their latest quarters, but said that higher labor and operations costs have weighed on their bottom lines
New York Americans grabbing groceries and fixing up their homes during the coronavirus pandemic have propped up top retailers' sales. But that same shopping behavior has also dented companies' profits.
Target , Walmart , Amazon and Home Depot all reported sales increases during their latest quarters, but said that higher labor and operations costs weighed on their bottom lines. The retailers, which were deemed essential businesses and have kept their doors open in the crisis, are also fulfilling more orders online. That is costlier for them than if shoppers buy in stores because companies have to pay for logistics and delivery fees.
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