Macy’s earnings top estimates, retailer says it won’t spin off e-commerce from stores
Macy’s on Tuesday reported fiscal fourth-quarter earnings and sales that outpaced analysts’ estimates and said that a strategic review has prompted the retailer to accelerate its turnaround plans. It is rejecting calls from activist Jana Partners for it to split its e-commerce operations from its stores, following a similar move by Saks Fifth Avenue. Macy’s…
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Inflation Alert: McDonald’s Big Mac Is Outpacing Cost of Living, Price up 40%
The price of a McDonald’s Big Mac burger has risen 40% over the last 10 years, CNBC reported, and because its price incorporates many economic factors, many believe this popular fast food item is one way to understand current inflation rates and purchasing power of the U.S. dollar. CNBC Select analyzed the “Big Mac index,”…
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Shake Shack forecasts slim sales as Omicron surge hurts
Shake Shack forecast first-quarter revenue below estimates as the fast-spreading Omicron variant kept diners away and led to temporary restaurant closures, sending the burger chain’s shares down 10% in extended trading. Benefits from easing COVID-19 Delta infections were short-lived for Shake Shack as the Omicron wave that soon followed dissuaded customers from venturing out, infected…
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DoorDash revenue beats as food-delivery boom continues, shares soar 24%
DoorDash Inc (DASH.N) reported quarterly revenue on Wednesday that beat estimates as food delivery demand showed no sign of slowing, indicating ordering habits have changed permanently, sending the company’s shares up 24% after the bell. Analysts have said people have grown accustomed to having food delivered to their doorsteps after frequently ordering in during the…
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Serena Williams to star in Tonal’s Super Bowl ad. Home gym tells women to ‘own your strength’
Tonal, known for its $2,995 at-home gym, is using a Super Bowl ad to make a point to women that they can use strength training equipment just like men. A new campaign starring tennis champion Serena Williams, who was also an early Tonal investor, aims to debunk the idea that women will get “very muscular”…
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Peloton to replace its CEO, cut 2,800 jobs
Beleaguered fitness company Peloton said Tuesday it will replace CEO and co-founder John Foley as the brand seeks to win back market and consumer confidence. Barry McCarthy, who has held leadership roles at Spotify and Netflix, will become the new CEO, effective Wednesday, the company announced. “Today’s leadership changes are the culmination of a succession…
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