Retail industry
Chipotle testing cauliflower rice in select locations after item drew in customers last year
Employees prepare orders for customers at a Chipotle Mexican Grill restaurant in Hollywood, California. Patrick T. Fallon | Bloomberg | Getty Images Chipotle is giving cauliflower rice another try after the item helped bring in new customers when it was offered for a limited time last year. The Newport Beach, California-based chain said Thursday it […]
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Amazon’s big Prime Day sale runs July 12 and 13
An Amazon delivery worker pulls a delivery cart full of packages during its annual Prime Day promotion in New York City, June 21, 2021. Brendan McDermid | Reuters Amazon’s big annual sale, Prime Day, will return on July 12 and 13, the company announced on Thursday. The event is also a big revenue driver for […]
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China’s multi-billion dollar shopping festival tests e-commerce giants and consumer appetite
China’s “618” shopping festival sees e-commerce giants including JD.com and Alibaba offer huge discounts to shoppers. Billions of dollars worth of sales are racked up across the 618 sales period which usually lasts a couple of weeks. Geng Yuhe | Visual China Group | Getty Images China is in the midst of the “618” shopping […]
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Cosmetics giant Revlon files for Chapter 11 bankruptcy protection
Daniel Acker | Bloomberg | Getty Images Cosmetics giant Revlon filed for Chapter 11 bankruptcy protection on Wednesday evening as it grappled with a cumbersome debt load and a snarled supply chain. The company said it expects to receive $575 million in debtor-in-possession financing from its existing lender base, which will help to support its […]
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Ikea puts Russian factories up for sale, plans job cuts
A view of IKEA store in Russia’s capital Moscow on March 04, 2022. Pavel Pavlov | Anadolu Agency | Getty Images Ikea said on Wednesday it would sell factories, close offices, and reduce its 15,000-strong workforce in Russia, the latest move by the world’s biggest furniture brand to cut its operations there following Moscow’s invasion […]
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These could be the next hot food and drink trends
Pasta is coming back in different shapes and flavors, drinking vinegar is cool, and comfort food favorites like pancakes are being made with new ingredients. That’s according to the hundreds of items on display at the Summer Fancy Food Show, a trade show that has gained a reputation for being a place to spot the […]
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Retail sales posted unexpected 0.3% decline in May as inflation hammers consumers
Retail sales turned negative in May as consumers pulled back spending while inflation surged, the Commerce Department reported Wednesday. Advance retail and food service spending fell 0.3% for the month, below the Dow Jones estimate for a 0.1% gain. Excluding autos, sales were up 0.5%, which fell short of expectations for a 0.8% increase. The […]
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Ex-employee’s lawsuit accuses Stew Leonard’s boss of making racist, sexist, anti-Semitic remarks
Customers push shopping carts outside a Stew Leonard’s supermarket in Paramus, New Jersey, U.S., on Tuesday, May 12, 2020. Stew Leonard Jr. said that meat packing plant the company uses is operating at about 70 percent capacity, and he expects it to rebound to full capacity in about a month, CT Post reported. Angus Mordant […]
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Starbucks union: Company threatens that unionizing could jeopardize gender-affirming health care
A protester waves a sign near the Country Club Plaza Starbucks store where dozens of Starbucks employees and union supporters protested alleged anti-union tactics by the company Thursday, March 3, 2022. Jill Toyoshiba | Tribune News Service | Getty Images Starbucks is telling its baristas that unionizing could jeopardize the gender-affirming health care coverage for […]
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Bank of America downgrades Best Buy, says sales could revert to pre-pandemic levels
The shift in consumer spending and slowing U.S. economy are ominous signs for Best Buy , according to Bank of America. Analyst Elizabeth Suzuki downgraded Best Buy to neutral from buy, saying in a note to clients that electronics spending could be in for a big correction. “Although the company expects a modest YoY decline […]
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