Walmart agreed to pay a small fine and promised to ensure its third-party resellers are unable to sell realistic looking toy guns to buyers in New York, after state Attorney General Letitia James said Tuesday that the retail giant’s online store shipped them to the state. The settlement comes nearly a decade after Walmart, Amazon, Sears and other retailers entered ...
Macy’s cut its full-year profit guidance on Wednesday even as it beat Wall Street’s quarterly earnings expectations, as the retailer’s CEO said it will hike prices of certain items to offset tariffs. In a news release, the department store operator said it reduced its earnings outlook because of higher tariffs, more promotions and “some moderation” in discretionary spending. Macy’s stuck ...
23andMe on Tuesday announced it will voluntarily delist from the Nasdaq and de-register with the U.S. Securities and Exchange Commission, according to a release. The move comes after Regeneron Pharmaceuticals said earlier this month that it will acquire “substantially all” of 23andMe’s assets for $256 million. The drugmaker came out on top following a bankruptcy auction for 23andMe, a once ...
Dick’s Sporting Goods said Wednesday it’s standing by its full-year guidance, which includes the expected impact from all tariffs currently in effect. The sporting goods giant said it’s expecting earnings per share to be between $13.80 and $14.40 in fiscal 2025 — in line with the $14.29 that analysts had expected, according to LSEG. It’s projecting revenue to be between ...
The once-solid relationship between President Donald Trump and Apple CEO Tim Cook is breaking down over the idea of a U.S.-made iPhone. Last week, Trump said he “had a little problem with Tim Cook,” and on Friday, he threatened to slap a 25% tariff on iPhones in a social media post. Trump is upset with Apple’s plan to source the ...
President Donald Trump on Friday cleared the merger of U.S. Steel and Nippon Steel, after the Japanese steelmaker’s previous bid to acquire its U.S. rival had been blocked on national security grounds. “This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. ...
United Airlines reached an “industry-leading” tentative labor deal for its 28,000 flight attendants, their union said Friday. The deal includes “40% of total economic improvements” in the first year and retroactive pay, a signing bonus, and quality of life improvements, like better scheduling and on-call time, the Association of Flight Attendants-CWA said. The union did not provide further details about ...
The Federal Trade Commission voted to dismiss a lawsuit filed in the last days of the Biden administration that accused PepsiCo of offering sweetheart pricing to big retailers. FTC Chair Andrew Ferguson dissented to the suit when it was filed in January, when he was one of the regulator’s commissioners. Now the agency’s leader, Ferguson on Thursday again criticized the ...
Department of Justice officials on Tuesday charged members or associates of an Armenian organized crime ring with stealing more than $83 million worth of cargo from Amazon by posing as legitimate truck drivers and siphoning off goods destined for the company’s warehouses. Since at least 2021, at least four people linked to the crime ring carried out a scheme across California to steal truckloads ...
As Burger King enters the next phase of its turnaround efforts, the fast-food chain is trying to lure families back to its restaurants with colored Whopper buns and kid-friendly movie partnerships. Starting Tuesday, the Restaurant Brands International chain will sell new menu items inspired by the “live action” remake of “How to Train Your Dragon.” The collaboration is more than just a one-time ...