A sign hangs on the front of an Olive Garden restaurant on June 22, 2023 in Chicago, Illinois. Scott Olsen | Getty Images Darden Restaurants on Thursday reported weaker-than-expected quarterly earnings and revenue as sales weakened at Olive Garden and its fine dining restaurants. “While we fell short of our expectations for the first quarter, … Read more
For years, Amazon has set the bar for package delivery. When Prime launched in 2005, two-day shipping was unheard of. By 2019, one-day shipping was standard for millions of items. Now, the retail giant is turning to generative AI to drive more same-day shipping. Amazon is using the technology to optimize delivery routes, make more intelligent … Read more
Faster delivery is prompting more and more people to turn to Amazon to buy paper towels and other everyday items. It’s a great situation for busy shoppers. It’s a double-edged sword for investors – at least for now. As drugstore chains struggle and close stores left and right, Amazon has positioned itself to fill that … Read more
THG, which was previously known as The Hut Group, is an e-commerce business based out of the U.K. Pavlo Gonchar | Sopa Images | Lightrocket via Getty Images British e-commerce firm THG said Tuesday that it is looking to spin off its technology platform, Ingenuity, in a blow to founder Matthew Moulding’s vision to build … Read more
NEW YORK CITY — In a federal courtroom on Monday, storied fashion designer Michael Kors spoke about the steep challenge of staying relevant in a world where brands can rise and fall based on viral TikTok videos and photos of handbags on the arms of celebrities such as Taylor Swift and Beyoncé. Kors kicked off … Read more
Stouffer’s Supreme launches with two flavors: cheddar cheese and three cheese. Source: Nestle Stouffer’s is expanding beyond the freezer aisle and taking on Kraft Heinz with its new shelf-stable mac and cheese. The Nestle brand, which celebrated its centennial in June, has spent the past 70 years focused on frozen entrees, such as pizzas, lasagna … Read more
Chili’s efforts to win back American consumers are working. Same-store sales, a key metric for the restaurant industry, jumped 14.8% in its fiscal fourth quarter, a significant increase as many chains struggle to bring in diners. “Our marketing team has done a great job of getting back into what we call the zeitgeist or being … Read more
A man walking past a logo of fast fashion e-commerce company Shein outside its office in Guangzhou in southern China’s Guangdong province. Jade Gao | Afp | Getty Images The bottom of the barrel prices that have made Chinese-linked e-tailers Shein and Temu so popular with American consumers could soon rise if the Biden administration … Read more
Sports gambling has exploded across the United States over the past six years and, in response, two lawmakers have introduced legislation that would implement federal regulations on the practice. Rep. Paul Tonko D-N.Y. and Sen. Richard Blumenthal, D-Conn., on Thursday introduced the Supporting Affordability and Fairness with Every Bet, or the SAFE Bet Act, which … Read more
U.S. President Joe Biden delivers remarks during a visit to the United Association Local 190 Training Center in Ann Arbor, Michigan, U.S., September 6, 2024. Craig Hudson | Reuters The Biden administration announced new steps on Friday to curtail what it calls the “overuse and abuse” of a longstanding trade law that permits low-value shipments … Read more
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