Hasbro is laying off about 1,100 employees as the toy maker struggles with soft sales that have carried into the holiday shopping season, according to a company memo obtained by CNBC. Hasbro had about 6,300 employees as of earlier this year, according to a company fact sheet. Shares of the company fell more than 4% … Read more
People wait in line outside Macy’s before opening on “Black Friday” in New York City on November 24, 2023. The retail sector’s efforts to entice holiday gift purchases builds to a crescendo this weekend with the annual “Black Friday” shopping day followed by the newer “Cyber Monday.” (Photo by Yuki IWAMURA / AFP) (Photo by … Read more
The Ronald McDonald balloon floats down Central Park West during the Macy’s Thanksgiving Day Parade on November 23, 2023, in New York City. Gary Hershorn | Corbis News | Getty Images McDonald’s executives painted a rosy portrait of the fast-food giant’s strength and ability to achieve long-term goals at its investor day, but the company … Read more
Members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle on November 16, 2023 in Washington, DC. Kevin Dietsch | Getty Images Starbucks said it wants to resume contract talks with the union representing its baristas, starting in January. Saturday marks the two-year anniversary of the first unionization of … Read more
A GameStop store in a strip mall in Chicago on March 16, 2023. Scott Olson | Getty Images Struggling retailer GameStop is giving its CEO and chair Ryan Cohen even more control, including the ability to use company cash to buy other stocks. In its quarterly report released Wednesday night, GameStop announced two changes to … Read more
Dollar General has gotten hit by steep fines for safety violations, slammed on late-night TV and even overruled by its own shareholders. On Thursday, CEO Todd Vasos laid out on an earnings call with investors the discounter’s plans to try to turn around both the company’s performance and its public relations problems. He said the … Read more
The leading retail lobbying group has walked back a key claim about shrink, or inventory losses from various sources, after a news investigation revealed that the analysis was incorrect. The Friday retraction from the National Retail Federation underscores just how difficult it is for the industry to accurately measure the impact and source of inventory … Read more
Black Friday shoppers at a Lululemon store at the Garden State Plaza in New Jersey. Mike Calia | CNBC Lululemon on Thursday said it saw strong third-quarter demand and a positive start to the holiday shopping season, but the retailer’s shares fell in extended trading after it gave a tepid fourth-quarter outlook. Here’s how the … Read more
Starbucks ‘ (SBUX) 12-session losing streak is finally over, with Wednesday’s gain making a small dent in its recent decline of more than 10%. Despite persistent China concerns, which have been underlying the selling for nearly three weeks, we view the recent rough patch as a way to buy shares in a quality company at … Read more
Addison O’Grady #44 of the Iowa Hawkeyes rebounds against LaDazhia Williams #0 of the LSU Lady Tigers during the 2023 NCAA Women’s Basketball Tournament National Championship at American Airlines Center on April 2, 2023 in Dallas, Texas. C. Morgan Engel | Ncaa Photos | Getty Images Women’s sports had a banner year in 2023, according … Read more
