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Planet Fitness announced Tuesday that Colleen Keating will take over as the fitness club's new CEO, effective June 10. Craig Benson, who has been serving as interim CEO since the departure of Chris Rondeau in September, will remain on the board of directors. The announcement comes after months of searching, and some analysts are calling it a positive for the stock, despite shares falling more than 3% following the announcement. Keating has 30 years of experience in large-scale operations and franchise management, as well as leadership in global consumer-facing operations across hospitality, real estate, operations and franchise management. She previously held leadership roles at InterContinental Hotels Group and Starwood Hotels & Resorts Worldwide Inc.
Persons: Colleen Keating, Craig Benson, Chris Rondeau, Piper Sandler, Korinne Wolfmeyer, Wolfmeyer, Keating Organizations: Fitness, New, FirstKey, InterContinental Hotels Group, Starwood Hotels, Resorts Worldwide Inc
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin briefly crosses $72,000 for first time since mid-March and ether soars 8%: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, BitGo's Matthew Ballensweig, who is the head of Go Network, weighs in on what's driving crypto prices. Ballensweig also explains what he believes is the "defining moment" for bitcoin.
Persons: explainers, Matthew Ballensweig, Ballensweig Organizations: CNBC Crypto, CNBC, Go Network
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin slumps after U.S. job growth beat expectations in March: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Fred Thiel, CEO of Marathon Digital Holdings, discusses how the bitcoin miner is preparing for the halving.
Persons: explainers, Fred Thiel Organizations: CNBC Crypto, CNBC, Marathon Digital Holdings
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSuntory CEO discusses new Japanese Whisky standards and global demandJapan's alcohol industry has implemented a new set of definition for Japanese whisky in an attempt to keep foreign-made spirits from being branded as Japanese. Suntory CEO Takeshi Niinami spoke with CNBC's Brandon Gomez about the new criteria, what it means for the spirits category as well as the company's expansion into the U.S. with ready-to-drink cocktail called, -196.
Persons: Takeshi Niinami, CNBC's Brandon Gomez Organizations: Suntory
Bud Light brand slowly recovering in U.S.
  + stars: | 2024-04-01 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBud Light brand slowly recovering in U.S.CNBC’s Brandon Gomez joins 'Power Lunch' to discuss the U.S. brand recovery of Bud Light after a boycott.
Persons: Bud, CNBC’s Brandon Gomez, Bud Light Organizations: U.S Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin reclaims $70,000 as volatility still hovers at 2024 high: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Chris Kuiper, director of research for Fidelity Digital Assets, shares his outlook for bitcoin ETFs in 2024 from Bitcoin Investor Day in New York City.
Persons: explainers, Chris Kuiper Organizations: CNBC Crypto, CNBC, Fidelity Digital Assets Locations: New York City
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin falls below $70,000 in overnight sell-off: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Thomas Perfumo, Kraken's head of strategy, weighs in on what's behind bitcoin's moves lower after hitting new records over the past two weeks.
Persons: explainers, Thomas Perfumo Organizations: CNBC Crypto, CNBC Locations: what's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin and ether fall as investors press pause on rally: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Andrew O'Neill, managing director and co-chair of S&P Global's Digital Assets Research Lab, explains the significance of Ethereum's Dencun upgrade and the impact of the upcoming bitcoin halving event on miners.
Persons: explainers, Andrew O'Neill Organizations: CNBC Crypto, CNBC, Research
Garmin shares surge on fourth quarter earnings beat
  + stars: | 2024-02-21 | by ( Brandon Gomez | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGarmin shares surge on fourth quarter earnings beatGarmin stock rises on a fourth quarter earnings beat with strength in its auto and fitness business segments. It also revealed a proposed dividend increase and share buyback plan.
Organizations: Garmin
Brewer Molson Coors said on Tuesday that it expects to maintain its market share gains in the year ahead. Those revenue gains were in large part tied to consumers migrating away from AB InBev 's Bud Light products after boycotts began last April. It was a return to profit for Molson Coors from a loss a year ago. Ariel Investments, which has invested in Molson Coors since 2018, also remains confident in the stock's performance. "The core brands were growing dollar share even before the Bud Light controversy," said Tim Fidler, Ariel Investments' portfolio manager.
Persons: Brewer Molson Coors, Molson Coors, Molson, Gavin Hattersley, Hattersley, Greg Tierney, Cowen, Robert Moskow, Ariel, Bud, Tim Fidler Organizations: Coors, InBev, Molson Coors, Bud Light, Bud, Ariel Investments, CNBC PRO Locations: United States, U.S
Matthew Horwood | Getty Images News | Getty ImagesThe spirits industry held its market share edge over beer and wine for the second straight year in 2023, even as it showed little growth, according to new data released Wednesday. U.S. spirits revenue grew only a modest 0.2% last year to $37.7 billion, according to the Distilled Spirits Council of the U.S. annual economic report. Although the industry gained little total revenue, it outpaced beer and wine sales by 0.4% and 26.1%, respectively. "The phenomenal sales growth we saw during the pandemic was unprecedented and unpredictable but also unsustainable, and now, the spirits market is recalibrating." Tequila and mezcal, blended whiskey and American whiskey are among the fastest growing spirits categories by revenue.
Persons: Matthew Horwood, Chris Swonger, Swonger Organizations: Getty, U.S, Diageo, LVMH, Constellation Brands Locations: Cardiff, United Kingdom, U.S
America's most 'Just' companies in 2024 revealed
  + stars: | 2024-02-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerica's most 'Just' companies in 2024 revealedCNBC's Brandon Gomez joins 'Squawk Box' with more on Just Capital's 2024 list of '100 most just companies in America'.
Persons: CNBC's Brandon Gomez Locations: America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJust Capital: America's most 'just' companies provide disclosuresCNBC's Brandon Gomez reports on Just Capital's 100 most 'just' companies.
Persons: Brandon Gomez
The holiday business of booze
  + stars: | 2023-11-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe holiday business of boozeCNBC's Brandon Gomez joins 'Closing Bell' to discuss on the holiday business of alcohol.
Persons: Brandon Gomez
Diageo stock falls on guidance cut
  + stars: | 2023-11-10 | by ( Brandon Gomez | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiageo stock falls on guidance cutDiageo shares dropped double-digits after the company said it expects growth to slow in the first half of its fiscal year, due to weakness in Latin America & the Caribbean, cutting guidance for the short and medium term. CNBC's Brandon Gomez discusses the investor opportunity in the Spirits sector.
Persons: CNBC's Brandon Gomez Organizations: Diageo, Spirits Locations: America
A person works out at Planet Fitness as they re-open at 25 percent capacity in Boston's Dorchester on Feb. 1, 2021. Planet Fitness shares surged double-digits after beating expectations on both lines for the third quarter and raising its outlook for the year. Earnings per share: 59 cents vs. 55 cents59 cents vs. 55 cents Revenue: $277.6 million vs. $268.2. "We're adjusting our store-level return model to further improve the attractiveness of opening and operating Planet Fitness stores in a new macro-environment," Benson said. "To invest in new store growth, improve the store returns of those new stores."
Persons: Craig Benson, Chris Rondeau, Rondeau, Benson, Tom Fitzgerald, Fitzgerald Organizations: Fitness, Planet Fitness, Wall Street, Revenue, Interim Locations: Boston's Dorchester
Life Time Group shares plummeted 15% Wednesday after the company's third-quarter results revealed higher spending to boost the premium member experience. The cost of running its fitness centers, including new and ramping locations, rose 8.2% year over year during the quarter to $319.4 million, the company said. The program changes are an attempt to keep Life Time's affluent customer base satisfied as prices rise across the board and many consumers increasingly value premium offerings. Life Time increased its prices at many of its locations in recent years, though pricing varies by market. "We aren't taking advantage of all the different connections we have and all the different programs we have, so there is essential work being done to systematize all of that."
Persons: Bahram Akradi, , Akradi Organizations: Time Group, Lifetime
Hispanic inclusion in corporate America lagged last year, particularly in three key areas — C-suite representation, talent development and supplier procurement — according to the Hispanic Association on Corporate Responsibility's 2023 Corporate Inclusion Index. The corporate advocacy group's annual report, which measures Hispanic inclusion in employment, procurement, governance and philanthropy, was provided exclusively to CNBC ahead of its wider release. While all companies that participated in the survey reported offering internship programs, only 13% of interns in 2022 identified as Hispanic. "One way of combatting issues related to Hispanic inclusion in corporate America is investments in internship programs as a way of attracting new employees," HACR noted in its report. While Hispanic inclusion lagged, HACR noted survey participation was up 12%, offering hope for future improvement.
Persons: Lisette Garcia, Garcia, isn't, HACR Organizations: America, Hispanic Association, Corporate, Bureau of Labor Statistics, CNBC, Fortune, Latinas, Companies, Comcast Locations: America, United States
Latina women working full time, year-round earn 57 cents for every dollar paid to white, non-Hispanic men, according to a data collected by the U.S. Census Bureau and the Bureau of Labor Statistics. That gap in pay translates to a loss of $1,218,000 over a 40-year career. Break that down further and Latinas lose $30,450 in wages per year, or $2,538 every month, compared with the dominant cohort. The gap widens even further to 52 cents for every dollar when part-time and part-year workers are included in the data. "Looking over the course of a career, a Latina woman could never catch up," said Gaylynn Burroughs, NWLC director of workplace equality and senior counsel.
Persons: Gaylynn Burroughs Organizations: U.S . Census, Bureau of Labor Statistics, National Women's Law Locations: Latina
The U.S. Latino economy continues to grow, reaching $3.2 trillion in 2021, up from $2.8 trillion the year prior, according to a new report by the Latino Donor Collaborative in partnership with Wells Fargo. If Latinos were an independent country, their GDP would rank fifth in the world, the study found. "We have a massive economy that's under-invested right now, under-engaged," said Sol Trujillo, Latino Donor Collaborative chairman, in an interview with CNBC's "Squawk Box." That is largely due to the Latino community's strong population share, labor force participation and overall productivity in those states. "I would say if you look at the charts now that we have in our study, 48 out of the 50 states' growth is tied to this [Latino] cohort," Trujillo said.
Persons: Wells, LDC, Sol Trujillo, CNBC's, Trujillo Locations: Wells Fargo, U.S, United Kingdom, India, France, Italy, California , Texas, Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHispanic Americans show modest economic progress as wage gap persistsWells Fargo out with a new report on the "Economic Progress of Hispanic Americans" looking at employment, household wealth, wages and more. Brandon Gomez digs into the report and what companies have done to help close the wealth gap.
Persons: Wells, Brandon Gomez
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJUST Capital: JP Morgan, Slack among companies investing in formerly incarcerated workersOnly 5% of companies in the Russell 1000 providing employment opportunities for workers who were formerly incarcerated or maintain a criminal record. Brandon Gomez discusses what companies are doing to become equal opportunity employers, and where there is still room for improvement in a cooling labor market.
Persons: JP Morgan, Slack, Brandon Gomez
Major retailers and brands have driven $14 billion in revenue to Black-owned businesses since May 2020. The group asks companies to reflect the Black community that makes up 15% of the U.S. population by dedicating 15% of their shelf space to Black-owned brands. Prior to taking the pledge, many of the group's current partners had less than 3% of their shelf space dedicated to Black-owned brands. Now all partners are committed to attaining their 15% pledge over a 10-year contract. Fifteen Percent Pledge has committed to generating $1.4 trillion in wealth for Black entrepreneurs by 2030.
Persons: Nordstrom, LaToya Williams Belfort, Sephora, Aurora James, George Floyd's, James, InStyle Organizations: Federal, CNBC, JUST Capital, Vogue Locations: Brooklyn, Black, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlack Business Month: Major retailers drive $14B of revenue to Black-owned brandsNordstrom, Macy's, Sephora, Gap & Ulta Beauty among the retailers who have taken the '15 Percent Pledge', dedicating 15% of their annual purchasing power and shelf space to Black-owned brands. Brandon Gomez speaks with '15 Percent Pledge' Executive Director LaToya Williams Belfort about the organizations work to close the racial wealth gap and plans to drive $1.4 trillion of wealth generation to Black entrepreneurs by 2030.
Persons: Brandon Gomez, LaToya Williams Belfort Organizations: Nordstrom
Bud Light boycott weighs on AB InBev U.S. result
  + stars: | 2023-08-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBud Light boycott weighs on AB InBev U.S. resultBudweiser parent company AB InBev reported strong quarterly results overall, but saw significant decline in revenue and sales of Bud Light after boycotts hit the U.S. market. Brandon Gomez digs into the numbers and what executives said on the earnings call.
Persons: Bud, Bud Light, Brandon Gomez Organizations: InBev U.S, Budweiser, InBev
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