Business
Family office deals slow in May with bets on nuclear batteries and AI testers
Key Points Nuclear energy startups are gaining steam with private investment firms of the ultra-rich. Billionaire Barry Sternlicht’s family office invested in Zeno Power, a nuclear battery firm, in May. These deals are set to grow with family offices wanting to capitalize on the AI’s power demands and President Trump’s recent executive order to boost […]
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Here’s how tariffs could affect the price of goods like shoes and sweaters
What is the true cost of tariffs? It’s debatable — not only because of political biases, but also because it’s far from straightforward to calculate just how much of the levies consumers end up paying. Even so, it’s possible to estimate how much the price of common items could increase under President Donald Trump’s various […]
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Nationwide coordinated retail crime crackdown results in hundreds of arrests, authorities say
A nationwide coordinated crackdown on retail crime — what authorities are calling the first of its kind — led to hundreds of arrests in 28 states last week. The blitz, led by Illinois’ Cook County regional organized crime task force, involved more than 100 jurisdictions and over 30 retailers including Home Depot, Macy’s, Target, Ulta […]
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Steph Curry’s Thirty Ink generated $174 million in revenue last year, and all of its businesses are profitable, company says
Steph Curry’s Gentleman’s Cut bourbon. Courtesy: Gentleman’s Cut Steph Curry is one of the greatest basketball players ever, and judging by his company’s financials, he’s off to a pretty good start in the business world. Curry is the CEO of Thirty Ink, a house-of-brands conglomerate that owns companies including Unanimous Media, Gentleman’s Cut bourbon and […]
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McDonald’s is bringing back the snack wrap to U.S. restaurants next month
McDonald’s Snack Wrap. Courtesy: McDonald’s McDonald’s snack wraps will return to U.S. restaurants next month as the fast-food giant looks to boost sales after a sluggish start to the year. McDonald’s introduced snack wraps nearly two decades ago but discontinued the item in 2016 because it slowed its kitchens down too much. Some franchisees kept […]
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Dollar General is shaking off tariff fears and winning over higher-income consumers
Shares of Dollar General jumped more than 10% on Tuesday after the discounter raised its outlook, saying it drew more middle- and higher-income shoppers amid fears that higher tariffs would hurt consumer spending. The Tennessee-based retailer beat quarterly expectations for revenue and earnings. The company said it now anticipates net sales will grow about 3.7% […]
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Peloton launching resale market for used bikes, treadmills
A Peloton bike is displayed at a Dick’s Sporting Goods store on May 08, 2024 in Daly City, California. Justin Sullivan | Getty Images Peloton on Tuesday launched its own marketplace for reselling used equipment and gear as the company looks to capitalize on the many bikes and treadmills collecting dust in people’s homes. The […]
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Ford reports 16% sales increase in May amid employee pricing, tariffs
DETROIT — Ford Motor on Tuesday reported a 16.3% year-over-year U.S. sales increase for May, as the automaker continues an employee pricing program amid rising tariff costs and vehicle price increases. Sales for the Detroit automaker were led by a 17.2% increase in its vehicles with traditional internal combustion engines, as well as a roughly […]
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How Under Armour signed Stephen Curry away from Nike
In 2013, Stephen Curry shocked the sneaker world by signing with then-upstart athletic company Under Armour over basketball powerhouse Nike. At the time, Nike controlled the vast majority of the NBA sneaker market. Under Armour was virtually unheard of in the basketball space. “We’re the underdog brand. We’re for the ones that were maybe born […]
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Private equity firm Roark Capital invests in fast-growing restaurant chain Dave’s Hot Chicken
Private equity firm Roark Capital has bought a majority stake in Dave’s Hot Chicken, the company announced on Monday. Financial terms were not disclosed, but Dave’s CEO Bill Phelps said on CNBC’s “Squawk Box” that the reported $1 billion valuation for the deal is “pretty close.” Since its founding in a Los Angeles parking lot […]
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