Retail industry
Forever 21 expected to close all U.S. stores, blames Shein and Temu for demise
Forever 21 filed for bankruptcy protection for the second time in six years on Sunday and blamed fast-fashion e-tailers Shein and Temu for its demise. The retailer’s operating company is expected to cease all operations in the U.S. and has already begun liquidation sales at its more than 350 locations, but it’s still open for […]
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PepsiCo buys prebiotic soda brand Poppi for more than $1.6 billion
Super Bowl ad of Poppi. Source: Poppi PepsiCo said Monday that it is buying prebiotic soda brand Poppi for more than $1.6 billion. The food and beverage giant said it plans to acquire the upstart for $1.95 billion. The deal includes $300 million of anticipated cash tax benefits, making the net purchase price $1.65 billion. […]
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Klarna, nearing IPO, plucks lucrative Walmart fintech partnership from rival Affirm
Key Points Swedish fintech firm Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm, CNBC has learned. Klarna, which disclosed its intention to go public in the U.S., will provide loans to Walmart customers in stores and online through the retailer’s majority-owned […]
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Goodbye to ‘bags fly free’ on Southwest Airlines, the last freebie in America
Passengers check in for Southwest Airlines flights at Chicago Midway International Airport on Feb. 18, 2025 in Chicago, Illinois. Scott Olson | Getty Images Almost nothing is guaranteed in life. Certainly not weather, electricity, health, tariffs or eggs. But for more than 50 years, American consumers could count on Southwest Airlines letting them check bags […]
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U.S. consumers are starting to crack as tariffs add to inflation, recession concerns
Shoppers cast shadows as they carry their bags along the waterfront in Portland, Maine, U.S, December 26, 2024. Kevin Lamarque | Reuters It’s not just Walmart. The leaders of companies that serve everyone from penny-pinching grocery shoppers to first-class travelers are seeing cracks in demand, a shift after resilient consumers propped up the U.S. economy […]
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Ulta issues weak guidance, citing consumer uncertainty, rising competition and company missteps
Ulta Beauty on Thursday issued weak guidance for the year ahead as it navigates a series of internal missteps, rising competition and what it called “consumer uncertainty.” The retailer, which appointed Kecia Steelman as its new CEO in January, said it’s expecting comparable sales to be flat or grow 1% in 2025, while analysts had […]
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Dollar General CEO warns consumers are cash-strapped, and says 2025 won’t be better
The exterior of a Dollar General convenience store on August 30, 2024 in Austin, Texas. Brandon Bell | Getty Images Dollar General CEO Todd Vasos said on Thursday that inflation continues to hurt the discounter’s customers and that the macroeconomic environment won’t improve this year. On the company’s fourth-quarter earnings call, Vasos said customers are […]
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Dollar General store review and closures dent fourth-quarter earnings
A Dollar General store in Germantown, New York, on Nov. 30, 2023. Angus Mordant/Bloomberg via Getty Images Dollar General on Thursday reported fiscal fourth-quarter revenue that narrowly beat Wall Street estimates, while a store portfolio review cut into the chain’s profit. As part of the reevaluation, the dollar-store chain said it will close 96 Dollar General stores […]
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American Eagle says consumer is slowing down, issues weak guidance
American clothing and accessories retailer American Eagle store seen in Hong Kong. Budrul Chukrut | Lightrocket | Getty Images American Eagle warned investors on Wednesday that consumers are pulling back on spending and it’s seen a “slower start” to the year than it expected. “Entering 2025, the first quarter is off to a slower start […]
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RFK Jr. pressures Big Food to remove artificial dyes in meeting with CEOs
Robert F. Kennedy Jr., U.S. President Donald Trump’s nominee for Secretary of Health and Human Services testifies during his Senate Finance Committee confirmation hearing at the Dirksen Senate Office Building on January 29, 2025 in Washington, DC. Win Mcnamee | Getty Images News | Getty Images Health and Human Services Secretary Robert F. Kennedy Jr. […]
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