Forever 21 is asking landlords for a break on rent as the legacy fast-fashion player’s sales decline and it struggles to keep up with savvier competitors, CNBC has learned. The retailer, which has more than 380 stores in the U.S., has asked some landlords to cut its rent by as much as 50%, people familiar with the matter told CNBC. ...
Darden Restaurants on Thursday reported mixed quarterly results as Olive Garden’s same-store sales fell for the second consecutive quarter. For fiscal 2025, Darden is forecasting that its same-store sales will grow just 1% to 2%. Shares of the company rose more than 2% in premarket trading. Darden reported fiscal fourth-quarter net income of $308.1 million, or $2.57 per share, down from ...
Tesla’s hefty downsizing in 2023 has reduced its global headcount to just over 121,000 people, including temps, internal records suggest, indicating that the automaker has slashed more than 14% of its workforce so far this year. The latest figure is not from precise payroll data, but from the number of people who are on Tesla’s “everybody” email distribution list as of ...
Elon Musk on Wednesday tried to walk back remarks lashing out at advertisers fleeing his X social media platform. At the Cannes Lions advertising festival in Cannes, France, Musk was asked by WPP CEO Mark Read what he meant by telling advertisers threatening to pull ads from the platform late last year to “go f— yourself.” Musk said it was ...
Voters, ages 50 and up, will have a strong influence on the November election. And politicians who want to win their vote would be wise to emphasize personal economic issues that affect them, particularly Social Security, according to a new AARP poll of likely voters from the 44 most competitive congressional districts. When asked one question — “How worried are you about your personal ...
Stellantis is correcting what CEO Carlos Tavares described Thursday as “arrogant” mistakes by himself and the company in the automaker’s U.S. operations that led to sales declines, bloated inventories and investor concerns. Tavares said the convergence of three factors led to the problems: not selling down vehicle inventory fast enough; manufacturing issues, specifically with two unnamed plants; and lack of “sophistication ...
The share of workers who say they get summer Fridays has dropped dramatically in recent years. Just 11% of North American workers say they have access to summer Fridays, according to a November 2023 survey from Gartner of more than 1,100 people. In 2019, however, 55% of organizations offered the benefit, and until that point its popularity had been growing for years. ...
The share of workers who say they get Summer Fridays has dropped dramatically in recent years. Just 11% of North American workers say they have access to Summer Fridays, according to a November 2023 survey from Gartner of more than 1,100 people. In 2019, however, 55% of organizations offered the benefit, and until that point its popularity had been growing for years. ...
What makes a happy camper this summer? S’mores, sing-alongs and — lately — streaming. The pandemic nudged millions of people toward outdoorsy trips and experiences, and many are now hooked. But they’re increasingly demanding a decent Wi-Fi connection wherever they pitch their tents or park their RVs, and campsites are providing it. Wi-Fi at campgrounds has become “the fourth utility ...
Boeing is investigating a new quality problem with its 787 Dreamliner after discovering that hundreds of fasteners have been incorrectly installed on the fuselages of some undelivered jets, two people familiar with the matter said. The latest in a series of manufacturing snags affecting the U.S. planemaker involves incorrect “torquing” or tightening in a Boeing plant of more than 900 fasteners ...