CEO Doug McMillon of Walmart recently highlighted the challenges the retail giant is facing in lowering prices, especially in the aisles that carry dry groceries and processed foods. Despite efforts to pressure suppliers into cutting prices, McMillon admitted that some companies are still pushing for cost increases. This has led Walmart to aggressively fight back
Business
Starbucks has recently made headlines for offering their incoming CEO and Chair, Brian Niccol, an impressive pay bump and significant one-time awards to entice him to leave his previous position as chief executive at Chipotle Mexican Grill. With Niccol set to officially take the helm at Starbucks on September 9th, all eyes are on him
The fluctuation of interest rates has a significant impact on the decisions made by homeowners when it comes to major projects that require financing. According to Home Depot’s Chief Financial Officer Richard McPhail, many homeowners have postponed moving into new houses or starting major projects due to the anticipation of lower interest rates in the
Blink Fitness, a budget-friendly gym chain under the ownership of luxury fitness company Equinox Group, has recently filed for Chapter 11 bankruptcy protection. This move comes as a result of the challenges faced by the fitness industry post-pandemic. The company, which has over 100 centers across the United States, is joining the ranks of other
Restaurant CEOs have been emphasizing the importance of “value” in their recent conference calls with investors, reflecting the industry’s current struggle to regain consumer traffic and sales. With food prices rising over 27% since 2019, consumers are becoming more cautious in their spending habits, opting for brands that offer compelling value. This trend has led
The recent announcement by automaker Stellantis to indefinitely lay off up to 2,450 U.S. factory workers has sent shockwaves through the industry. These job cuts come as the company discontinues production of an older version of its Ram 1500 pickup truck in Michigan. The Ram 1500 Classic, a popular choice among entry-level buyers and fleet
Delta Air Lines recently disclosed that the CrowdStrike outage and subsequent flight cancellations last month have cost the airline an estimated $550 million. The financial repercussions included a $380 million loss in revenue for the current quarter due to refunds issued for canceled flights and compensation provided to affected customers in the form of cash
In recent years, Disney’s media business has faced significant challenges that have impacted the company’s overall performance. The narrative surrounding Disney’s struggles with streaming losses, declining traditional pay TV business, and box office failures has been a constant concern for investors. However, a shift appears to be taking place, as evidenced by Disney’s second-quarter results.
Disney recently announced that it will be increasing the prices of its streaming platforms, including Disney+, Hulu, and ESPN+. Starting in mid-October, most plans will see a monthly price increase of $1 to $2. The most significant increase will be for Hulu’s plans that include live TV, which will cost $6 more per month. The
JPMorgan Chase made history three years ago by becoming the first bank to have a branch in all 48 contiguous states in the United States. Now, the firm is setting its sights on expanding even further, with the goal of reaching more Americans in smaller cities and towns. This ambitious branch expansion plan aims to
