Retail industry
Allbirds ‘dramatically’ slows pace of new hires as loss widens
A woman walks past an Allbirds store in the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021. Al Drago | Bloomberg | Getty Images Allbirds on Monday cut its financial forecast for the year and announced a number of efforts to cut costs as the sustainable shoe maker reported a wider quarterly loss […]
Read More
Bed Bath & Beyond shares jump more than 50% as message board mentions soar on the troubled, heavily shorted stock
A view of a Bed Bath and Beyond store in Daly City, California. Justin Sullivan | Getty Images Shares of Bed Bath & Beyond jumped nearly 60% on Monday as meme traders seemed to be betting on the stock despite any apparent catalyst for the move. The heavily shorted stock, which has tumbled more than […]
Read More
Some consumers are cutting back on restaurant spending, but CEOs say not all chains are affected
Howard Schultz David Ryder | Reuters Some restaurants are reporting weaker sales or declining traffic in the second quarter, signaling that diners are cutting back on eating out to save money. But CEOs are split on how consumer behavior is changing and whether it’s impacting their companies. McDonald’s Chris Kempczinski and Chipotle Mexican Grill’s Brian […]
Read More
The lesson for Main Street from the Walmart, Target inventory failures
Filip Radwanski | Lightrocket | Getty Images The retail battle narrative over the past few decades has cited one of two wars: Amazon and e-commerce against the big bricks-and-mortar retailers, and everybody big against small Main Street entrepreneurs. But in the current confusing economic environment — marked by inflation, supply chain bottlenecks and a volatile […]
Read More
Oil companies are giving back tons of cash — and other things we’ve learned this earnings season
A trader works at the New York Stock Exchange NYSE in New York, the United States, May 18, 2022. U.S. stocks plummeted on Wednesday as weak earnings from major retailers stoked concerns about the impact of inflation. Michael Nagle | Xinhua News Agency | Getty Images Source
Read More
Bed Bath & Beyond is discontinuing a private brand as it tries to reverse declining sales
A person enters a Bed Bath & Beyond store on October 01, 2021 in the Tribeca neighborhood in New York City. Michael M. Santiago | Getty Images Bed Bath & Beyond is axing one of its private labels, Wild Sage, about a year after the company made an aggressive push into exclusive brands, at the […]
Read More
Unions are forming at Starbucks, Apple and Google. Here’s why workers are organizing now
For decades, union membership has been on the decline. Yet in the last few months, workers have been organizing at a pace this country hasn’t seen since the Great Depression. Amazon has captured headlines for union drives at its warehouses, including a successful effort on New York’s Staten Island. But activity is picking up elsewhere […]
Read More
The price of a pint is going through the roof. Here’s why UK beer costs are far outpacing inflation
LONDON — The average cost of a pint of beer in the U.K. has soared by 70% since 2008 — well ahead of inflation — and some Londoners are parting with as much as £8 ($9.70) for 568ml of the amber nectar. According to figures from consultancy firm CGA, the average cost of a pint […]
Read More
Beyond Meat cuts revenue outlook, says it’s trimming workforce
Vegetarian sausages from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California, June 5, 2019. Mike Blake | Reuters Beyond Meat on Thursday lowered its revenue forecast for 2022 and announced it will trim its workforce by 4%, citing broader economic uncertainty. The El Segundo, California-based company […]
Read More
Burger King parent says more customers are redeeming coupons and loyalty rewards
A Burger King Whopper hamburger is displayed on April 05, 2022 in San Anselmo, California. Justin Sullivan | Getty Images More customers at Burger King and its sister brands are redeeming coupons and loyalty program rewards as inflation pushes menu prices higher. Restaurant Brands International CEO Jose Cil told CNBC that the company hasn’t seen […]
Read More