Treasure hunt vibes... Retailers' sales rebounded last quarter, as you attended your first get-together without a virtual background (bye, clouds). TJ Maxx and Ross sales soared past pre-pandemic levels on the "affordable splurge." Target shined as you caved for the floral dresses in the front. Macy's sales jumped 56% from last year, and Kohl's crushed expectations. TBD if pent-up demand will continue as stimulus benefits run out. Macy's CEO thinks it isn't a fluke.
Tim Cook-ing in the kitchen... and it's getting heated. Apple CEO Tim Cook was grilled on Friday as the Epic-Apple trial wrapped up. Cook's testimony was highly anticipated — but anticlimactic. If Fortnite-maker Epic wins the suit, Apple could be forced to give up control of app distribution. Read: customers could be allowed to freely install software on iPhones (not just through the App Store). It could be a make-or-break moment for Apple's antitrust future.