Retail industry
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 […]
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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 […]
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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 […]
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The great unrest: How 2020 changed the economy in ways we can’t understand yet
In an earnings call Wednesday morning, Yum Brands CEO David Gibbs expressed the confusion many people are feeling as they try to figure out what’s going on with the U.S. economy right now: “This is truly one of the most complex environments we’ve ever seen in our industry to operate in. Because we’re not just […]
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Alibaba shares jump 7% after quarterly earnings beat expectations
Alibaba has faced growth challenges amid regulatory tightening on China’s domestic technology sector and a slowdown in the world’s second-largest economy. But analysts think the e-commerce giant’s growth could pick up through the rest of 2022. Kuang Da | Jiemian News | VCG | Getty Images Alibaba reported fiscal first-quarter earnings on Thursday that beat […]
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Baird downgrades Under Armour, citing near term risks to earnings
Baird is losing confidence in Under Armour ‘s ability to weather the current economic backdrop and successfully execute its plans to transform the brand. “Our view of UAA’s near-term prospects has deteriorated materially over the past two quarters, and we now have much lower confidence that the multi-year brand transformation and healthier full-priced business in […]
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Restaurant Brands International earnings top estimates, fueled by stronger Tim Hortons, Burger King sales
A sign is posted in front of a Burger King restaurant on February 15, 2022 in Daly City, California. Justin Sullivan | Getty Images Burger King parent company Restaurant Brands International on Thursday reported quarterly earnings and revenue that topped Wall Street’s expectations, fueled by same-store sales growth at all three of its chains that […]
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Morgan Stanley downgrades Levi Strauss as macro headwinds pressure earnings
The outlook is murky for Levi Strauss going forward, according to Morgan Stanley. “Macro uncertainty + elevated apparel inventory could limit positive EPS revisions,” wrote analyst Kimberly Greenberger in a note to clients Thursday. “So while our constructive thesis & estimates are unchanged, we downgrade to EW.” The downgrade makes Morgan Stanley the only Wall […]
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Walmart lays off corporate employees after slashing forecast
Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey VIEW press | Corbis News | Getty Images Walmart confirmed on Wednesday that it has begun to lay off corporate employees about a week after the company slashed its profit outlook and warned consumers had pulled back on discretionary spending […]
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CVS says it plans to get into primary care by year end
A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York. Shannon Stapleton | Reuters CVS said Wednesday that it plans to acquire or take a stake in a primary-care company by the end of the year, as competition heats up with Amazon and Walgreens. CEO Karen Lynch said on […]
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