Retail industry
Panera Bread terminates SPAC deal with Danny Meyer’s investment group
Florida, Spring Hill, Nature Coast Commons, shopping mall, Panera Bread bakery. Jeff Greenberg | Universal Images Group | Getty Images Danny Meyer’s SPAC and Panera Bread have called off a deal to take the sandwich chain public again, citing market conditions. In November, the parent company of the sandwich chain, Caribou Coffee and Einstein Bros. […]
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Kohl’s says a real estate sale is on the table after scrapping deal talks
People walk near a Kohl’s department store entranceway on June 07, 2022 in Doral, Florida. Joe Raedle | Getty Images Kohl’s might not be selling its business after all. But it’s now looking to sell some of its real estate, reversing its prior stance. The retailer on Friday announced it terminated deal talks with The […]
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Amazon blocks searches for LGBTQ+ products in the United Arab Emirates amid regional anti-homosexuality push
Marc Bruxelle/ EyeEm/ Getty DUBAI, United Arab Emirates – E-commerce giant Amazon is blocking search results for LGBTQ-related products on its United Arab Emirates website, following a series of pushbacks against same-sex themes in the Gulf region. Amazon made the decision after coming under pressure from UAE authorities, who reportedly threatened it with penalties and […]
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Kohl’s terminates sale talks with Vitamin Shoppe owner Franchise Group, sources say
A Kohl’s store in San Rafael, Calif. Getty Images Kohl’s is terminating talks to sell its business to The Vitamin Shoppe owner Franchise Group, two people familiar with the matter told CNBC on Thursday. The people requested anonymity because a decision from Kohl’s has not been publicly announced. Representatives from Kohl’s and Franchise Group didn’t […]
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Former Apple, JC Penney exec Ron Johnson’s Enjoy Technology files for bankruptcy months after it went public
Ron Johnson during a panel discussion at the CNBC Evolve New York event on June 19, 2019. Astrid Stawiarz | CNBC Enjoy Technology, a retail startup founded by former Apple and J.C. Penney exec Ron Johnson, filed for Chapter 11 bankruptcy protection on Thursday, mere months after it made its stock market debut. The company’s […]
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Walgreens profits squeezed as Covid vaccines wane, company invests in health-care business
Walgreens Boots Alliance on Thursday said its quarterly sales declined and profits got hit by waning Covid-19 vaccination demand, heavy investments in its health care business and an opioid settlement with Florida. Shares were down by about 4% in morning trading. The drugstore chain stood by its full-year forecast, saying it expects adjusted earnings per […]
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Bed Bath & Beyond names new chief accounting officer in latest executive change as sales plunge
Bed Bath & Beyond on Thursday named a new chief accounting officer, marking another leadership change as the retailer struggles with plunging sales. The company said Laura Crossen will take over as the senior vice president of finance and chief accounting officer, replacing John Barresi, who resigned earlier this month after stepping into the role […]
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Inflation is making Fourth of July celebrations more expensive than ever
Fotografia Inc. | E+ | Getty Images Nothing says Independence Day like a good, old-fashioned barbecue. In keeping with tradition, most Americans — roughly 60% — plan to grill this weekend, and 53% will get together with friends and family, according to a recent report by market research firm Numerator. “Consumers want to celebrate this summer […]
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RH shares slide after company lowers its outlook for the year
Jason Kempin | Getty Images Entertainment | Getty Images High-end furniture chain RH on Wednesday slashed its outlook for 2022 revenue, anticipating consumer demand for its products will continue to soften in the back half of the year. The company now sees annual sales down between 2% and 5%, compared with prior expectations that saw […]
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Unilever reaches deal to keep selling Ben & Jerry’s ice cream in Israel
Consumer products giant Unilever said it reached a deal that will let its Ben & Jerry’s ice cream business continue selling in Israel. The company said Wednesday that it sold the Israeli branch of the ice cream brand for an undisclosed sum to Avi Zinger, whose American Quality Products already licenses Ben & Jerry’s ice […]
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