A fashion retail Forever 21 store is pictured in in London on September 30, 2019. Fashion retailer Forever 21 has filed for Chapter 11 bankruptcy protection in the US. Alberto Pezzali | NurPhoto | Getty Images Forever 21 is asking landlords for a break on rent as the legacy fast fashion player’s sales decline and … Read more
Customers arrive at an Olive Garden location in San Antonio, Texas. Callaghan O’Hare | Bloomberg | Getty Images Casual-dining chains are gaining customers who have grown frustrated with higher fast-food prices, Darden Restaurants CEO Rick Cardenas said on Thursday. While Darden itself hasn’t benefited from the shift, its competitors, like Chili’s owner Brinker International and … Read more
Olive Garden Italian restaurant sign showing company logo, Spokane Valley, Washington, owned by Darden Restaurants Incorporated headquartered in Florida. Universal Images Group | Getty Images Darden Restaurants on Thursday reported mixed quarterly results as Olive Garden’s same-store sales fell for the second consecutive quarter. For fiscal 2025, Darden is forecasting that its same-store sales will … Read more
An employee adjusts a sneaker display inside a Golden Goose SpA store in the Mayfair district of London, UK, on Monday, Dec. 4, 2023. Roughly a dozen banks competed for roles on a potential initial public offering in Milan of Golden Goose, with valuations pitched in a range of 3 billion ($3.3 billion) to 4 … Read more
Another Wall Street firm has turned positive on Best Buy — making the case that an artificial intelligence-fueled upgrade cycle for PCs is hardly the only reason that investors should purchase the stock. UBS on Monday boosted Best Buy to a buy rating from neutral and lifted its price target on shares to $106 apiece … Read more
Since going public in 2012, discount retailer Five Below has grown its nationwide store count from less than 250 locations to more than 1,600. “It’s been one of the success stories of U.S. retail over the past five or so years,” said Neil Saunders, managing director of GlobalData Retail. Five Below’s net sales surpassed $3.5 … Read more
The Chinese auto sector is increasingly making global automakers and politicians hot under the collar. In the early 1980s, the Chinese auto industry barely existed. Today the country has the capacity to make about 40 million vehicles annually — enough to supply half the world. Only about 25 million cars sold in the country in … Read more
Dried cocoa beans at the Somos Cacao farm and production facility in Ragonvalia, Norte de Santader department, Colombia, on Friday, March 22, 2024. Ferley Ospina | Bloomberg | Getty Images There’s pricing pressure taking hold of a specific corner of global agriculture — and it’s bittersweet. Prices of cocoa have more than tripled over the … Read more
John R. Tyson speaks on stage during The Fight for Food: Value Chains and Partnerships at The 2022 Concordia Annual Summit in New York on September 21, 2022. Leigh Vogel | Getty Images Tyson Foods said on Thursday it has suspended its chief financial officer, John R. Tyson, after he was charged with driving while … Read more
Traders work at the post where GameStop is traded on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 12, 2024. Brendan McDermid | Reuters GameStop’s annual shareholder meeting was disrupted by computer problems Thursday, as servers crashed under overwhelming interest in the stream, a customer service representative for … Read more
