Customers wearing protective masks looks at the interior of a vehicle for sale at a Ford Motor Co. dealership in Colma, California, Feb. 1, 2021. David Paul Morris | Bloomberg | Getty Images DETROIT — As automakers chase Tesla-like profits on new electric vehicles, they face an existential question: how best to bring franchised auto … Read more
Walmart has rolled out a new look at five flagship stores, including its big-box store in Teterboro, NJ. The remodeled stores have brighter lighting, mannequins and roomier aisles. Melissa Repko | CNBC Ace Walmart‘s low-priced groceries attract shoppers, the retailer is rolling out a fresh strategy aimed at wooing them into other aisles: stores with … Read more
A woman shops in the pharmacy area of a Walmart store in Mount Prospect, Illinois. Getty Images Walmart Inc said on Friday it would adjust working hours for its US pharmacy team and implement it nationwide in 4,600 locations, with drugstore operator CVS Health Corp doing the same for about two-thirds of its retail pharmacies, … Read more
Game maker Hasbro Justin Sullivan | Getty Images Hasbro said Thursday it would eliminate around 1,000 employee positions and warned of weak holiday-quarter results. Shares of the toy maker fell more than 6% in extended trading. “Despite strong growth in Wizards of the Coast and Digital Gaming, Hasbro Pulse, and our licensing business, our Consumer … Read more
Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, attends a news conference to present the 2022 annual results of LVMH in Paris, France, January 26, 2023. Gonzalo Fuentes | Reuters Luxury giant LVMH said China’s wealthy consumers have started returning to stores after the country’s reopening and it remains optimistic about the … Read more
Signage is seen through an overturned shopping cart outside a Bed Bath & Beyond Inc. store in Greendale, Wisconsin. Daniel Acker | Bloomberg | Getty Images Bed Bath and Beyond said Thursday it doesn’t have enough cash to pay down its debts, warning once again of a potential bankruptcy. Shares of Bed Bath plunged Thursday … Read more
Chinese shoppers are likely poised to hit the streets again during the country’s reopening, a positive tailwind for certain retail stocks, according to Wells Fargo. “With the Lunar New Year kicking off on January 21, we believe reopening against multiple quarters of easier regional comparisons will benefit companies with the largest exposure,” wrote analyst Ike … Read more
Johnnie Walker is a brand of Scotch whiskey now owned by Diageo, which beat first-half sales forecasts. Sopa Images | Lightrocket | Getty Images Diageothe world’s largest spirits maker, beat first-half sales forecasts on Thursday as it raised prices and more people drank premium spirits. The London-based company, which makes Tanqueray gin, Captain Morgan’s rum … Read more
A pair of Levi’s selvedge denim jeans arranged in Louisville, Kentucky. Luke Sharrett | Bloomberg | Getty Images Levi Strauss on Wednesday posted earnings and revenue that topped Wall Street’s expectations. Shares of the company rose in after-hours trading as the company also offered upbeat sales guidance for its new fiscal year. Here’s how Levi … Read more
A grocery store in New York. Wang Ying | Xinhua News Agency | Getty Images Inflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t been budgeted. In the months ahead, the big question is whether consumers will start to feel relief, too. Over … Read more