Retail industry
How the digital sneaker boom changed Foot Locker’s business
Foot Locker dominates the brick-and-mortar footwear category as the largest footwear retailer in the world. Its 2,900 stores worldwide span several brands, including Lady Foot Locker, Kids Foot Locker and Champs Sports. Since 2015, however, digital sneaker retailers have grown rapidly with the establishment of online marketplaces like StockX and GOAT. New brick-and-mortar streetwear stores […]
Read More
Peloton reports big loss, offers weak guidance and taps banks for cash buffer
A Peloton stationary bike for sale at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images Peloton on Tuesday reported a wider-than-expected quarterly loss and a steep decline in sales, as inventories piled up in warehouses and ate away at the company’s cash. The connected […]
Read More
Meta’s first store aims to lure consumers to the metaverse
Katie Contreras and Chris Nguyen, experience experts, stand at the Customer Onboarding station for the Quest Demo space during a preview of the inaugural physical store of Facebook-owner Meta Platforms Inc in Burlingame, California, May 4, 2022. Brittany Hosea-Small | Reuters Meta is taking the next step in its evolution away from being an ad-supported […]
Read More
New Peloton CEO will be under harsh scrutiny when the company reports earnings this week
A woman walks in front of a Peloton store in Manhattan on May 05, 2021 in New York. John Smith | VIEW press | Corbis News | Getty Images Analysts and investors are eager to get to know Peloton Chief Executive Officer Barry McCarthy and have him articulate his vision for the company’s future. He […]
Read More
40 percent of America’s baby formula supplies are out of stock
A baby formula display shelf is seen at a Walmart grocery store in Orlando. Stores across the United States have struggled to stock enough baby formula, causing some chains to limit customer purchases. Paul Hennessy | Lightrocket | Getty Images There appears to be no end in sight to America’s baby formula shortage, according to […]
Read More
Uber CEO tells staff company will cut down on costs, treat hiring as a ‘privilege’
Uber will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After earnings, I spent several days meeting investors in New York and Boston,” Khosrowshahi said in the email, which was sent out late […]
Read More
Employees everywhere are organizing. Here’s why it’s happening now
Senator Bernie Sanders, an Independent from Vermont, left, speaks next to Christian Smalls, founder of the Amazon Labor Union (ALU), during an ALU rally in the Staten Island borough of New York, U.S., on Sunday, April 24, 2022. Victor J. Blue | Bloomberg | Getty Images After years of declining influence, unions are having a […]
Read More
Couples cut wedding expenses as inflation and demand make walking down the aisle pricier
Nicole Brandfon and her fiance Adam Alonso are planning a wedding in Colombia, rather than Miami, because it was more affordable. Source: Nicole Brandfon Nicole Brandfon and her fiance, Adam Alonso, will hop on a plane from Florida to South America early next year for a destination wedding. The international trip wasn’t their original plan, but […]
Read More
Starbucks criticizes Biden’s visit with union leaders, requests White House meeting
US President Joe Biden delivers remarks on economic growth, jobs, and deficit reduction in the Roosevelt Room on Wednesday May 4, 2022. Demetrius Freeman | The Washington Post | Getty Images Starbucks is asking the White House for a meeting after President Joe Biden met with an organizer who is helping its coffee shops unionize. […]
Read More
Kentucky Derby owner Churchill Downs moves away from online gambling, doubles down on horse betting
Churchill Downs, which owns the Kentucky Derby, is changing its strategy when it comes to sports wagering. The company is doubling down on horse race betting and moving away from online sports betting and iGaming digital casino games, CEO Bill Carstanjen told CNBC. “We saw an environment for our company where we didn’t see positive […]
Read More