Department stores are aging — and so are their customers. For over a century, the stores won over multiple generations with a promise to sell shoppers a wide variety of everything. For many Millennial and Gen Z consumers, that hasn’t been enough — especially as they discover items on social media, and specialty retailers, big-box stores and online players steal ...
Red Lobster has filed for voluntary Chapter 11 bankruptcy in Florida, the company confirmed in a statement late Sunday night — but it intends to keep its locations open. The 56-year-old seafood chain, the largest of its kind in the U.S., said it would ‘drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of ...
Wendy’s will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out. The deal will include a small portion of seasoned potatoes and a choice of either a bacon, egg and cheese English muffin or a sausage, egg and cheese English muffin, the fast-food chain said. ...
Ivan Boesky, a onetime Wall Street titan-turned-convict who served as the partial inspiration for the 1987 Oliver Stone film ‘Wall Street,’ has died at the age of 87. Though he denied ever saying it, contemporary accounts reported Boesky extolling the virtues of avarice in a commencement speech at the University of California Berkeley in 1986. “I think greed is healthy,’ ...
SEATTLE — Bruce Nordstrom, a retail executive who helped expand his family’s Pacific Northwest department store chain into an upscale national brand, has died. Seattle-based Nordstrom Inc. said its former chairman died at his home on Saturday. He was 90. “Our dad leaves a powerful legacy as a legendary business leader, a generous community citizen and a loyal friend,” said ...
More consumers are saving their workday lunch money to burn when they’re off the clock. The rise of hybrid work has kept many bars’ and restaurants’ lunchtime business from recovering to pre-pandemic levels, according to data the digital payments platform Square released Tuesday. But while weekday transaction volumes from 11 a.m. to 2 p.m. were down 3.3% last year compared ...
Chevy Bolt owners are eligible for settlement checks as part of a $150 million class-action settlement with General Motors and South Korean industrial group LG over faulty batteries. According to documents filed in a Michigan court Thursday, Bolt EV owners who installed software before Dec. 31, 2023 that had been designed to fix the battery issue will be eligible to ...
The Dow Jones Industrial Average closed Friday above the key 40,000 level for the first time in history, a day after hitting that benchmark in the previous trading session. The 30-stock average rose 134.21 points, or 0.34%, to 40,003.59. The S&P 500 inched up 6.17 points, or 0.12%, to 5,303.27, while Nasdaq Composite ended down 12.35 points, or 0.07%, at 16,685.97. This post appeared first on ...
Americans are kicking the can down the road on some more-costly, traditionally financed purchases as elevated inflation and interest rates bite. Corporate executives this earnings season have lamented that customers are disinterested in shelling out on big-ticket items for their bedrooms, backyards and everywhere in between. It comes at a pivotal moment for the national economy: the average Joe has ...
Frontier Airlines said it will stop charging customers a fee to change their flights, taking a page from larger competitors as the Biden administration issues stricter rules targeting so-called “junk fees.” The change is part of an overhaul announced on Friday of the budget airline’s longtime pricing model, which brings customers in the door with eye-catching low base fares but charges ...