Macy’s delivered another quarter of mixed results on Thursday as investors wait and see how quickly CEO Tony Spring can pull off a turnaround of the business with yet another activist investor looking to take the chain private. Across the business, which includes the Macy’s banner, Bloomingdale’s and Blue Mercury, comparable sales during the all-important holiday quarter were down 1.1%. But comparable sales across ...
Macy’s delivered another quarter of mixed results on Thursday as investors wait and see how quickly CEO Tony Spring can pull off a turnaround of the business with yet another activist investor looking to take the chain private. Across the business, which includes the Macy’s banner, Bloomingdale’s and Blue Mercury, comparable sales during the all-important holiday quarter were down 1.1%. But comparable sales across ...
President Donald Trump will “probably” announce tariff compromise deals with Canada and Mexico soon, Commerce Secretary Howard Lutnick said Tuesday. The potential agreements would likely involve scaling back at least part of Trump’s brand new 25% tariffs on imports from Mexico and Canada, he added. Lutnick’s comments came minutes after the U.S. stock market limped to a close for a second day of sharp declines, spurred ...
Domino’s Pizza is finally releasing its own version of stuffed crust on Monday, aiming to win over the customers who are willing to spend more on the pricey pizza customization. Thirty years ago, Yum Brands’ Pizza Hut debuted the cheesy stuffed crust, marketing the launch with a television commercial starring Donald Trump. As years passed, rivals Papa John’s and Little Caesars eventually followed with their own ...
Sonic the Hedgehog may be able to run faster than the speed of light, but his film franchise nearly came to a screaming halt in 2019. A less-than-three-minute trailer released early that year to tease the film’s release, which was just six months away, was widely panned by fans who took to social media to rail against Paramount’s character design. Dubbed “Ugly ...
Starbucks announced Tuesday that Nordstrom CFO Cathy Smith will join the company as its new chief financial officer, replacing longtime veteran Rachel Ruggeri. The executive change is the latest for Starbucks after Brian Niccol joined the company as chief executive in September with the goal of turning around slumping coffee sales. So far, noteworthy departures during Niccol’s tenure have included the company’s North American CEO, ...
The U.S. Treasury Department announced it will not enforce a Biden-era small business rule intended to curb money laundering and shell company formation. In a Sunday evening announcement, Treasury said in a news release that it will not impose penalties now or in the future if companies fail to register for the agency’s beneficial ownership information database that was created during the Biden administration. ...
Kroger Chairman and CEO Rodney McMullen has resigned after an internal investigation into his personal conduct. Kroger, the nation’s largest grocery chain, said Monday that the investigation into McMullen’s personal conduct was unrelated to the business, but was found to be inconsistent with its business ethics policy. Board member Ronald Sargent will serve as chairman and interim CEO, effective immediately. ...
The Consumer Financial Protection Bureau’s Trump-appointed leadership plans to fire nearly all its 1,700 employees while “winding down” the agency, according to testimony from employees. In a trove of statements released late Thursday, federal employees said that the mass layoff was discussed in meetings they attended this month with senior CFPB leaders and members of Elon Musk’s Department of Government Efficiency. “My team was ...
The U.S. Department of the Treasury on Sunday announced it won’t enforce the penalties or fines associated with the Biden-era “beneficial ownership information,” or BOI, reporting requirements for millions of domestic businesses. Enacted via the Corporate Transparency Act in 2021 to fight illicit finance and shell company formation, BOI reporting requires small businesses to identify who directly or indirectly owns or controls the company to the ...