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Search resuls for: "— CNN’s Nathaniel Meyersohn"


3 mentions found


☆ Rite Aid files for bankruptcy
  + stars: | 2023-10-15 | by ( David Goldman | ) edition.cnn.com   time to read: +5 min
“It was always a matter of when, not if, Rite Aid would file for bankruptcy,” said Neil Saunders, managing director of GlobalData, in a note to investors. As part of the bankruptcy plan, Rite Aid appointed a new CEO, Jeff Stein, who will also serve as the head of restructuring and a board member. The government accused Rite Aid of missing “obvious red flags” when it filled the prescriptions for addictive pain killers. Rite Aid is a distant third-largest nationwide standalone pharmacy chain in the United States — and the seventh largest pharmacy overall, when taking into account big box chains. Ultimately, in 2017, the companies agreed to a smaller, $4.4 billion deal, in which Walgreens bought just under 2,000 Rite Aid locations, leaving Rite Aid diminished in stature and unable to compete at the scale of its bigger rivals.
Persons: —, ”, Neil Saunders, GlobalData, Jeff Stein, Stein, “, Aid’s, General Merrick Garland, — CNN’s Nathaniel Meyersohn, Juliana Liu Organizations: New, New York CNN — Rite, CVS, Walgreens, Walmart, Target, Costco, US Securities and Exchange Commission, ”, Aid, Rite Aid, Solutions, “, Justice, US Justice Department, US Centers for Disease Control, ., United States — Locations: New York, United States
☆ Best Buy expects tech demand to hit a low this year
  + stars: | 2023-08-29 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +2 min
New York CNN —Best Buy expects declining tech sales to hit a low this year before stabilizing, in another sign of consumer caution around discretionary spending and retail purchases. Best Buy expects tech spending to hit a low this year before stabilizing. Bruce Bennett/Getty ImagesFor fiscal year 2024, the company now expects revenue of $43.8 billion to $44.5 billion, instead of $43.8 billion to $45.2 billion as it said in previous guidance. It expects sales at stores, websites and call centers open at least 14 months, known as comparable sales, to decline 4.5% to 6% for the year. In the quarter, comparable sales fell 6.3% domestically, year-over-year.
Persons: ” Corie Barry, ”, Bruce Bennett, Barry, “, — CNN’s Nathaniel Meyersohn, Anna Bahney Organizations: New, New York CNN, Revenue Locations: New York
☆ People are spending more on groceries. But they’re buying less
  + stars: | 2023-06-06 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +5 min
New York CNN —The past few months of robust grocery store sales would suggest that shoppers aren’t stretched for cash. Fresh eggs shot up 48.2%, milk rose 5%, bread rose 12.7% and fresh root vegetables went up 14.7. The following month, grocery prices continued to fall. But food inflation is still outpacing inflation overall, and grocery prices are still quite a bit higher than they were last year. We are still seeing prices, month over month, they’re still going up — although much less than they were.”— CNN’s Nathaniel Meyersohn contributed to this report.
Persons: that’s, ”, Alastair Steel, Spencer Platt, they’ve, Steel, “ we’ve, Richard Galanti, Jeff Gennette, “, Brandon Bell, Jeff Owen, Ramon Laguarta, it’s, they’re, —, Nathaniel Meyersohn Organizations: New, New York CNN, Kellogg, PepsiCo, Getty, Steel, Costco, Aldi, ”, Dollar, Assistance, SNAP, Consumers, Bureau of Labor Statistics, BLS Locations: New York
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