With fast-food customers revolting over higher prices, chains like McDonald’s, Burger King and Wendy’s are bringing back the value meal. Nearly 80% of Americans said they feel fast food has become a luxury and are eating out less, according to a LendingTree survey. To try to lure them back, fast-food chains have been touting their … Read more
An Abercrombie & Fitch store in New York, US, on Monday, Nov. 20, 2023. Abercrombie & Fitch Co. is scheduled to release earnings figures on November 21. Stephanie Keith | Bloomberg | Getty Images Abercrombie & Fitch‘s revenue grew 21% during its fiscal second quarter as the apparel company builds on its torrid growth. The … Read more
Is this the beginning of Foot Locker‘s comeback story? The beleaguered sneaker company on Wednesday said comparable sales grew for the first time in six quarters as its efforts to refresh its stores and improve the customer experience continue to bear fruit. Foot Locker’s same-store sales grew 2.6% during its fiscal second quarter, far better … Read more
Customers at a Lego store in Shanghai, China, on Feb. 3, 2024. Costfoto | Nurphoto | Getty Images An inflation-fueled sales slump hit the toy industry in the first half of 2024, but one company is gaining market share brick by brick. On Wednesday, Lego said revenue during the first six months of the year … Read more
Edgar Bronfman, Jr. Cameron Costa | CNBC Edgar Bronfman Jr. walked away from his bid for Paramount after the company’s special committee demanded his consortium submit a final offer Monday, according to people familiar with the matter. Initially, Bronfman thought he would have until end of day Tuesday to round up financing, but the deadline … Read more
JD.com set up an Innovative Retail division that houses its grocery business 7Fresh. Bloomberg | Bloomberg | Getty Images Hong Kong-listed shares of Chinese online retailer JD.com climbed 1.2% on Wednesday, outperforming the decline on the Hang Seng index after the firm announced a $5 billion buyback late Tuesday. U.S. listed shares of the firm … Read more
Signage outside a Nordstrom Rack retail store in New York on Aug. 25, 2022. Gabby Jones | Bloomberg | Getty Images Nordstrom on Tuesday posted earnings that blew past Wall Street’s expectations, indicating the department store is making strides in its efforts to cut costs and boost efficiencies. Though the Seattle-based retailer posted earnings per … Read more
Brock Purdy, #13 of the San Francisco 49ers, prepares to take a snap in the first quarter against the Kansas City Chiefs during Super Bowl LVIII at Allegiant Stadium in Las Vegas on Feb. 11, 2024. Michael Reaves | Getty Images The National Football League has informed owners and investment firms that it intends to … Read more
Jakub Porzycki | Nurphoto | Getty Images The nearly 30% drop in shares of Chinese online retailer PDD Holdings is “too much of a correction,” according to Shaun Rein, founder and managing director of the China Market Research Group. Speaking to CNBC’s “Street Signs Asia,” Rein said the “panic was overblown last night,” and that … Read more
The NBA logo before the game between the Detroit Pistons and Charlotte Hornets at Little Caesars Arena on March 11, 2024 in Detroit, Michigan. Nic Antaya | Getty Images Dallas Mavericks and New Orleans Pelicans fans are waiting for a new way to watch local games in the upcoming NBA season. Both teams are exiting … Read more
