Fabrics outlet Joann will shutter all of its approximately 800 locations after failing to find a buyer who would keep its stores open. In a statement, the company said it would commence nationwide going-out-of-business sales as a stipulation of the group that won its assets at auction. ‘JOANN leadership, our Board, advisors and legal partners made every possible effort to ...
Direct-to-consumer footwear brand Rothy’s just recorded its best year on record after the company appointed retail veteran Jenny Ming, one of the co-founders of Old Navy, as its CEO. Ming took the helm of the flats maker from co-founder Stephen Hawthornthwaite in January 2024. Under her direction, the company grew sales 17% to $211 million last year, its best volume year ...
Starbucks will lay off 1,100 corporate employees and will not fill several hundred other open positions, the coffee chain’s CEO Brian Niccol said Monday. The cuts will not affect workers at the company’s cafes. In a message to corporate employees, Niccol said Starbucks is “simplifying our structure, removing layers and duplication and creating smaller, more nimble teams.” “Our intent is to operate ...
The Securities and Exchange Commission is dropping its investigation into Robinhood’s crypto arm, the company revealed Monday. Robinhood said it received a letter from the SEC’s enforcement division on Friday, detailing in a blog post that the agency has closed its investigation into the crypto business with no intention of moving forward with an enforcement action. The news comes three days after Coinbase similarly ...
Apple on Monday reaffirmed a commitment to invest hundreds of billions of dollars in the U.S. over the coming years amid pressure from President Donald Trump and the growing threat of his tariffs The tech giant said it planned to spend $500 billion over the next five years in the United States, with intentions to hire 20,000 new workers and ...
An “embarrassment of riches” at the box office could fuel a $1.2 billion year for IMAX, CEO Rich Gelfond told CNBC on Friday. That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters. “I think it’s going to be a very strong year,” Gelfond said in an interview with ...
Cameo wants workers back in the office more often, and it’s paying them each $10,000 to show up. Starting this week, workers at the celebrity video-greeting app are reporting into the company’s Chicago headquarters Monday through Thursday. In exchange, the roughly two dozen eligible employees can expect a $10,000 annual raise, free lunch, free parking and access to an onsite ...
Toy and gaming giant Hasbro took an optimistic tone Thursday on the potential effect of Chinese tariffs on its business, as executives said the company is shifting manufacturing away from China. Hasbro Chief Financial Officer Gina Goetter said on the company’s fourth-quarter earnings call that the toymaker’s 2025 guidance — which includes adjusted EBITDA of $1.1 billion to $1.15 billion, compared with ...
The largest U.S.-based cryptocurrency exchange said Friday that the Securities and Exchange Commission would drop its lawsuit against it, a signal that the Trump administration plans to take a friendlier approach to the broader crypto industry. In a release it titled ‘Righting a major wrong,’ the exchange, Coinbase, said SEC staff had agreed in principle to dismiss a suit filed ...
Executives at Meta stand to get bigger bonuses this year. The company said in a corporate filing Thursday that it had approved “an increase in the target bonus percentage” for its annual bonus plan for executives. Meta’s named executive officers could earn a bonus of 200% of their base salary under the new plan, up from the 75% they earned previously, according to the ...