Imports expected to remain below 2022 for most of this year (chainstoreage.com)

GAP INC. reported a third quarter fiscal year 2021 diluted loss per share of $0.40. Excluding fees associated with restructuring the company’s long-term debt and net charges related to strategic changes in its European operating model, adjusted diluted earnings per share were $0.27. Additional information regarding adjusted diluted earnings per share, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure. The company’s third quarter fiscal year 2021 net sales of $3.9 billion were down 1% compared to 2019 with supply chain disruption driving an estimated 8 percentage point negative impact due to constrained inventory.1 The company remains focused on digital dominance through investing in its ecommerce platform, strategically closing unprofitable stores and partnering to amplify in international markets. Online sales grew 48% compared to the third quarter of 2019 and represented 38% of the total business, even as store traffic continues to rebound. Investments in technology are driving an enhanced online experience as the company accelerates its digital strategy. Third quarter comparable sales were up 5% versus 2019. The comparable sales calculation reflects online sales and comparable sales days in stores that were open.

Sweeping new rules governing debt collection practices in the U.S. will go into effect on November 30. Unfortunately, many of the very serious concerns about the use of electronic communications for debt collection raised by citizens, cybersecurity experts and consumer advocacy groups including Keep Me Posted (KMP) were effectively ignored by the Consumer Financial Protection Bureau (CFPB), the federal agency charged with making sure banks, lenders and other financial companies treat consumers fairly. The widespread impacts of CFPB’s new rules cannot be underestimated: Nearly 70 million Americans now have a debt in collection. That staggering number translates to nearly one in three adults with a credit report being pursued during the pandemic, according to analysis from the Urban Institute. What’s more, even consumers with debts that are beyond the statute of limitations can still be pursued under the rules. Even those with no credit worries need to beware: Scammers are already using unsolicited electronic communications to perpetrate fraud, using debt collection as a pretext. click read more below for more information

Bookstore sales posted another huge gain in September, with sales jumping 42.1%, to $881 million, over 2020, during which September sales were $620 million, according to estimates from the U.S. Census Bureau. While sales growth has slowed since spring, monthly increases remain substantially over those of the 2020 slump, when many bookstores were shut to in-store shopping for much of the year. For the entire retail segment, sales were up 14.7% in September. Sales are up 20.2% in the year to date.