Retail industry
From Gap to GameStop, there’s a retail executive exodus underway — and more departures are coming
Shoppers explore a mostly empty mall in Columbus, Ohio. Matthew Hatcher | Getty Images Don’t expect the stream of departures from retailers’ C-suites to stop anytime soon. Already this year, Gap and Bed Bath & Beyond abruptly replaced their CEOs as the companies’ sales plunged. GameStop fired its chief financial officer in the middle of […]
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4 takeaways from the Investing Club’s ‘Morning Meeting’ on Tuesday
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. 1. Apple to slow down hiring — what this means for the market 2. JNJ earnings: business is still very strong 3. Halliburton reports better-than-expected earnings 4. Quick mentions: PXD, […]
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Oppenheimer ups Dollar General price target, says retailer is a defensive play in weakening economy
Inflation is on the rise, aggressive rate hikes are underway and fears of a recession have skyrocketed in recent months. Amid the volatility, Dollar General remains a “top pick” to weather the economic uncertainty, according to Oppenheimer. “We believe a strengthening fundamental backdrop coupled with defensive attributes of the DG model position shares for more […]
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Restaurants are short-staffed, and that’s taking a big toll on customers and workers alike
A waiter works at a restaurant in Alexandria, Virginia, on June 3, 2022. Olivier Douliery | AFP | Getty Images Jeff Rothenberg has grown accustomed to long wait times at restaurants, even when tables are visibly open. “Another restaurant we went to had open seats outside, but when we went to the host, they mentioned […]
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These pandemic snacking and drinking habits are here to stay, candy and booze companies say
People visit the M&M store in Times Square on July in New York City. Spencer Platt | Getty Images The Covid-19 pandemic significantly changed consumer behavior from where they shopped to what they bought. That was felt throughout the snacks and spirits industries and some of those habits have hung on, senior executives from Beam […]
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Investors bet on meat grown in a lab as interest in plant-based foods cools
Investors want meat production to look more like the pharmaceutical industry than agriculture. Cultured meat, also known as cultivated, cell-based or lab-grown protein, is made by putting stem cells from the fat or muscle of an animal into a culture medium that feeds the cells, allowing them to grow. The medium is then put into […]
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Kohl’s says its chief supply chain officer is leaving
People walk near a Kohl’s department store entranceway on June 07, 2022 in Doral, Florida. Joe Raedle | Getty Images Kohl’s said its chief supply chain and technology officer, Paul Gaffney, is set to depart the retailer on Aug. 1, according to a securities filing. Kohl’s said that Siobhan Mc Feeney, who has been with Kohl’s […]
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Retail sales rose more than expected in June as consumers remain resilient despite inflation
A pedestrian carries a shopping bag while walking through Union Square on May 17, 2022 in San Francisco, California. Justin Sullivan | Getty Images Consumer spending held up during June’s inflation surge, with retail sales rising slightly more than expected for the month amid rising prices across most categories, the Commerce Department reported Friday. Advance […]
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Amazon plans 4,000 more jobs in the UK this year, defying tech downturn
An Amazon warehouse in Warrington, England. Nathan Stirk | Getty Images Amazon announced Friday it would create more than 4,000 permanent jobs in the U.K. in 2022, defying a wave of job cuts in the tech industry. The roles will include job functions in software development, product management, and engineering, as well as operational duties […]
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This map shows the 16 U.S. stores that Starbucks is set to close because of safety concerns
Starbucks will close 16 U.S. stores, mostly on the West Coast, by the end of July because of safety concerns, according to the company. Most of the stores set to close are in the Los Angeles and Seattle metro areas. “We’ve had to make the difficult decision to close some locations that have a particularly […]
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