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☆ Dollar Tree is considering selling problem child Family Dollar
▼ + stars: | 2024-06-05 | by ( Grace Dean | Mary Hanbury | ) www.businessinsider.com time to read: +1 min

Dollar Tree is looking at "strategic alternatives" for Family Dollar, which could include selling the chain, it said Wednesday. Analysts have described Family Dollar as Dollar Tree's problem child and say it's been a drag on earnings. Last year, Dollar Tree announced plans to close nearly 1,000 Family Dollar stores. AdvertisementDollar Tree is considering selling Family Dollar, it announced on Wednesday. Dollar Tree, which bought the rival dollar store in 2015 after a bidding war with Dollar General, said last year that it was carrying out a comprehensive review of Family Dollar, including plans announced earlier this year to close about 970 underperforming stores.

Persons: it's, — Organizations: Analysts, Service, Dollar, Business

Walmart heiress Alice Walton is the second-richest woman in the world, with an estimated $84 billion net worth. AdvertisementAlice Walton, the only female heiress to the Walmart fortune, is one of the richest women in the world. The three Walmart heirs — Rob Walton, Jim Walton, and Alice Walton — have a combined wealth of more than $250 billion, according to the Bloomberg Billionaires Index. The 74-year-old Alice Walton has an estimated fortune worth $84 billion and ranks 19th on Bloomberg's list. She's the second-richest woman in the world, behind only L'Oréal heiress Françoise Bettencourt Meyers.

Persons: Alice Walton, —, Rob Walton, Jim Walton, Alice Walton —, Françoise Bettencourt Meyers Organizations: Service, Walmart, Bloomberg, Business

☆ The cars that tech CEOs and founders have driven — from flashy McLarens to more modest sedans
▼ + stars: | 2024-04-16 | by ( Camilo Fonseca | Mary Hanbury | ) www.businessinsider.com time to read: +1 min

Tech moguls vary greatly in their choice of cars. Some favor luxury sports cars like McLarens, while other favor unassuming sedans like Ford Fusions. Here are some of the cars driven by the wealthiest of the tech world. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe world's most successful tech moguls have many things in common, but taste in cars isn't one of them.

Persons: —, Sam Altman Organizations: Service, Business

☆ Baltimore businesses are trying to figure out how the bridge collapse will affect them
▼ + stars: | 2024-03-26 | by ( Grace Dean | Mary Hanbury | ) www.businessinsider.com time to read: +5 min

Read previewThe collapse of the Francis Scott Key Bridge in Baltimore could have major effects on distribution and deliveries for businesses in the area. Baltimore's biggest bridge collapsed early on Tuesday morning after a cargo ship crashed into one of its support beams, prompting Maryland Gov. A spokesperson for Volkswagen said its operations were unaffected as its Baltimore facility was "located on the sea board of the bridge collapse." AdvertisementMcCormick, which manufactures spices and seasonings, said in 2020 that it expected its site at Tradepoint Atlantic to become its biggest distribution site. Local businesses prepare for ongoing disruptionThe Hard Yacht Cafe, located about a mile from the bridge, told BI that it wasn't yet clear how the collapse would affect its business.

Persons: —, Francis Scott Key, Wes Moore, Kevin Cartwright, Neil Saunders, Baltimore's Francis Scott Key, Armour, McCormick, we're, Alexander DelSordo Organizations: Service, Maryland Gov, Baltimore Fire Department, Associated Press, Business, Bloomberg, Maryland Transportation Authority, Depot, FedEx, BMW, Volkswagen, Google, Amazon, Volkswagen Group, Audi, Lamborghini, Bentley, CBS, WJZ, Bay Locations: Baltimore, Port of Baltimore, Sparrows, Europe, Mexico, Hawkins

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now, he's trying to turn the company around by stepping up for a second stint at its helm. The sportswear brand said March 13 that Plank will take over its CEO role again more than four years after he left the position. The company has also struggled to define itself against competitors — most notably Nike.

Persons: Armour, —, Kevin Plank, Plank, Stephanie Linnartz, Armour wasn't Organizations: Service, Nike, Armour

☆ Dollar Tree seems to finally be admitting defeat on Family Dollar
▼ + stars: | 2024-03-14 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

Dollar Tree said it will close nearly 1,000 Family Dollar stores — some closures are imminent. Analysts say the chain has been a nightmare acquisition for Dollar Tree. AdvertisementWhen Dollar Tree announced it would acquire Family Dollar nearly 10 years ago, its then-CEO Bob Sasser described it as a "transformational opportunity." "With the acquisition of Family Dollar Stores, Dollar Tree will become a leading discount retailer in North America," he said. Analysts have described Family Dollar as the problem child of Dollar Tree and say it's generally been a drag on company earnings.

Persons: —, Bob Sasser Organizations: Analysts, Service, Dollar, Business Locations: North America

☆ It looks like Costco's $1.50 hot dog deal might not be around forever after all
▼ + stars: | 2024-03-13 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Costco's longtime CFO once said the chain would offer its $1.50 hot dog deal forever. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt appears that Costco's $1.50 hot dog-and-soda combo may not be safe forever after all. Galanti — who has fiercely defended its $1.50 price point and confidently stated in a 2022 earnings call that it would stay this way "forever" — appeared to offer a more cautious outlook on its future this week.

Persons: Costco's, —, Richard Galanti, Galanti —, David Fuller Organizations: Service, Bloomberg, Costco, Business

☆ Temu spent so much on Meta ads that staffers joked they should thank the company with a hefty gift card, report says
▼ + stars: | 2024-03-07 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

Temu reportedly spent nearly $2 billion on ads on Meta last year, per WSJ. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTemu reportedly spent nearly $2 billion on ads on Meta in 2023. One source told the Journal that Meta staffers joked that Temu has spent so much on ads on its platforms that it should thank the company by rewarding it with one of its own gift cards.

Persons: Temu, — Organizations: Meta, Analysts, Service, Wall Street Journal, Business

☆ Jeff Bezos and Lauren Sánchez channeled 'mob chic,' the internet's hottest style trend, at Milan Fashion Week
▼ + stars: | 2024-01-16 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Jeff Bezos and Lauren Sánchez recently attended men's fashion week in Milan. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementIf you want to know how to nail down the "mob wife" look that's going viral on social media, you'd be wise to take tips from Jeff Bezos' partner, Lauren Sánchez. His fiancée, meanwhile, was peak "mob wife" — wearing a sheer, floor-length black lace Dolce & Gabbana dress for the evening event. Robino Salvatore/GC ImagesThe "mob wife" fashion trend, which is the antithesis of 2023's "quiet luxury" aesthetic is all about opulence.

Persons: Jeff Bezos, Lauren Sánchez, Bezos, Sánchez, —, you'd, Robino Salvatore, Robert Armstrong, Armstrong, — Warren Buffett, Elon Musk Organizations: Service, Dolce, Gabbana, Amazon Locations: Milan

☆ I'm a millennial who visited Abercrombie to see firsthand why my generation is falling back in love with the brand and helping boost sales
▼ + stars: | 2024-01-12 | by ( Jennifer Ortakales Dawkins | Mary Hanbury | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Wooden blinds covered the windows, and the store was so dimly lit that you could barely see what was inside. Under the leadership of Fran Horowitz, who's been the brand's CEO since 2017, Abercrombie has undergone drastic changes. AdvertisementIn January, Abercrombie increased its fourth-quarter sales and its 2023 outlook. I've visited Abercrombie and Fitch stores to see why millennials have fallen back in love with the clothing brand.

Persons: —, Fitch, Abercrombie, millennials, Fran Horowitz, who's, Neil Saunders, Horowitz, I've, Jennifer Ortakales Dawkins Organizations: Service, Abercrombie, Business, GlobalData, Revenues, Nvidia, Fitch Locations: cologne

☆ Tiger Woods is a billionaire — here's how he spends his money and lives his life
▼ + stars: | 2024-01-09 | by ( Cork Gaines | Meredith Cash | ) www.businessinsider.com time to read: +1 min

Woods' career once looked over, but he made a stunning comeback by winning the Masters a fifth time and may become a regular on the senior tour in a few years. He's one of the highest-paid athletes ever and, according to Forbes, is now a billionaire. Woods spends his money on yachts, private jets, and megamansions off the course. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .

Persons: Woods, —, Tony Manfred, Mary Hanbury Organizations: Forbes, Service, PGA

☆ 15 celebrities who love shopping at Costco
▼ + stars: | 2023-12-02 | by ( Mary Hanbury | Erin Mcdowell | ) www.businessinsider.com time to read: +1 min

In 2020, Lana Del Rey described the chain as "a happy place." Other stars like John Mayer and Ryan Seacrest have also touted their love for Costco. AdvertisementFrom former presidents to the music industry's biggest names, even celebrities are known to shop at Costco. In 2020, Lana Del Rey shared a series of photos from a recent trip to Costco, calling it "a happy place." Here are 15 celebrities who love shopping at Costco.

Persons: Lana Del Rey, John Mayer, Ryan Seacrest, —, Billie Eilish Organizations: Costco, Service

☆ Jeff Bezos' fiancee shared the couple's morning routine and it includes her drinking from a cringe slogan mug he got her on Amazon
▼ + stars: | 2023-11-14 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Jeff Bezos' fiancee described the couple's morning routine in an interview with Vogue. It begins with coffee, and she uses a mug Bezos got her from Amazon. The mug says "Woke up sexy as hell again" on the side, she said. She revealed two key things (among others, admittedly): first, that Bezos uses his own product and shops on Amazon. Lauren Sánchez, who has been dating Bezos since at least 2019 when the couple went public, described their morning routine in the interview.

Persons: Jeff Bezos, —, Bezos, Lauren Sánchez, Sánchez Organizations: Vogue, Service, Amazon

☆ Crocs might just have released the ugliest — but coolest — pair of shoes we've ever seen
▼ + stars: | 2023-10-24 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

Crocs launched its new $120 cowboy boots on Monday. The American brand, which reinvented the modern-day clog, released a limited edition pair of $120 cowboy boots online this week. AdvertisementAdvertisement"Our goal is not to make the haters love the brand," Crocs CEO Andrew Rees told Insider back in 2019 at the height of the "ugly fashion" movement. "It's to exploit that extrinsic tension because it creates opportunity, it creates PR, it creates media, it creates interest. AdvertisementAdvertisement"STOP SENDING ME THE CROCS COWBOY BOOTS !

Persons: Crocs, —, Andrew Rees, Z, Heidi Cooley, Cooley, crocs couldn't Organizations: Service, KFC, The New York Times, SPURS

☆ Dollar General's messy stores are haunting the retailer as it takes a $95 million hit on inventory markdowns and deploys 'smart teams' to clean up
▼ + stars: | 2023-08-31 | by ( Alex Bitter | Mary Hanbury | ) www.businessinsider.com time to read: +4 min

Dollar General is trying to cut down on excess inventory to tame its messy stores. "We believe it will drive traffic and also more quickly reduce excess inventory," Owen said on the call. To clean up its stores, Dollar General is also deploying "smart teams," or groups of employees who move between multiple stores to organize excess inventory, Owen said. Aisles at many Dollar General stores have been clogged with everything from dog food to school supplies over the last few years. That's led to multiple problems, such as local fire marshals closing Dollar General stores because merchandise is blocking fire exits.

Persons: Jeff Owen, Owen, Neil Saunders, That's Organizations: Service, Dollar, GlobalData Retail, Employees Locations: Wall, Silicon, Texas

☆ Brunello Cucinelli, the $2,000 cashmere sweater-selling master of 'stealth wealth' fashion, is booming as the 'loud luxury' trend wanes
▼ + stars: | 2023-08-30 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

Brunello Cucinelli, the poster child of the "quiet luxury" movement, is booming. "Quiet luxury" has been dominating the fashion world and shows no signs of losing steam. It's about quiet luxury. AdvertisementAdvertisementQuiet luxury or "stealth wealth" has been a leading movement, and trend, in fashion this year. In China, quiet luxury has taken on new meaning, experts say, to become a status symbol for the ultra-rich.

Persons: Brunello Cucinelli, Tom Ford, Lorna Hall, Amrita Banta Organizations: Service, Research, Strategy Locations: Wall, Silicon, Brunello, China

☆ China's richest people are leaning hard into quiet luxury, wielding stealth wealth like a weapon and scorning their flashy, label-chasing peers
▼ + stars: | 2023-08-26 | by ( Mary Hanbury | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +12 min

And rich Chinese people are leaning in, ditching "logo hunting" in favor of elegance, experts say. In a similar vein to the US and Europe – the "quiet luxury" aesthetic has emerged as a reaction to the economic climate. Chinese social media's got quiet luxury down to a sciencePeople have posted tutorials and photos on the “laoqian” style on China’s Pinterest-like site, Xiaohongshu. XiaohongshuTo be sure, there's being rich and looking rich, and the latter is where it's at on Chinese social media. WeiboSome influencers have also uploaded video tutorials on the "laoqian" style, to guide people on how best to dress for success.

Persons: that's, Dior, Gucci, Louis, Rich, Tom Wambsgan, Chukrut, you've, Javier Gonzalez Lastra, it's, Xi Jinping's, Milton Pedraza, Pedraza, media's, you'll, Richemont, Louis Vuittons, Thomaï Serdari, Joe, they're Organizations: Service, Bain, Co's, Burberry, Louis Vuitton, Getty, West, Ivy League, China Morning Post, Crazy, Luxury Institute, Twitter, NYU's Stern School of Business Locations: China, Wall, Silicon, America, bucketloads, Shanghai, Europe, Tema, Nanjing, Nikada, Beijing, Weibo

☆ Fake goods are everywhere online, experts say. Here's how to spot them.
▼ + stars: | 2023-08-10 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +7 min

New technology and the rise of online shopping has made it easier for scammers to sell fakes. These are the top tips to avoid buying a fake online. The rise of online shopping, particularly during the pandemic, fueled the market for counterfeit products. Here are six tips from experts on what to watch out for when you're shopping online:1. If you see any of these warning signs, the product very well could be fake," the IACC warns online.

Persons: Joe Simone, DK Lee, Jen Hanks, Lee, It's, Ben T, Smith IV, Kearney, Simone, Bob Barchiesi, Insider's Hillary Hoffower, Smith, it's Organizations: Service, Economic Co, Trade, eBay, Walmart, American Apparel & Footwear Association, Amazon, International Anticounterfeiting Coalition Locations: Wall, Silicon, Hong Kong

☆ Coach owner Tapestry acquires rival Capri Holdings for $8.5 billion adding Michael Kors and Versace to its offering to create a US fashion giant
▼ + stars: | 2023-08-10 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Coach owner Tapestry is buying Capri Holdings, the parent company of Michael Kors, for $8.5 billion. The new deal gives Tapestry greater influence in the luxury market and could bolster growth internationally. Capri is the parent company of well-known fashion brands Michael Kors, Versace, and Jimmy Choo. And it could give Tapestry greater influence in the luxury market to take on European powerhouses LVMH and Kering, which own a string of luxury brands including Louis Vuitton, Tiffany's, and Gucci. By acquiring Capri, Tapestry will add three well-known luxury brands to its roster.

Persons: Tapestry, Michael Kors, Kate Spade, Versace, Jimmy Choo, Louis Vuitton, Gucci, Neil Saunders, it's Organizations: Capri Holdings, Service, GlobalData Locations: Wall, Silicon, Tiffany's

☆ You can now buy Victoria's Secret underwear on Amazon
▼ + stars: | 2023-06-06 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Victoria's Secret is now selling its underwear and apparel products on Amazon. These items will be eligible for speedy shipping via a Prime membership. As of June 6, it's now possible to order underwear, swimwear, and apparel from both Victoria's Secret and its Pink brand on Amazon.com. According to Victoria's Secret, these items are eligible for speedy shipping via an Amazon Prime membership. Victoria's Secret has just over 830 stores across the US and Canada after closing 250-plus locations since the pandemic.

Persons: Birkenstock, —, it's, hasn't Organizations: Nike, Service, Amazon Locations: North America, Canada, Birkenstock

☆ Upscale homeware brand RH, which sells $5,000 dining tables and $10,000 couches, admits its pricing was 'arrogant'
▼ + stars: | 2023-05-31 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

RH, known for selling pricey furniture, says its prices have been "too aggressive" in the past. The CEO says its addressing this by lowering prices in its new collection, RH Contemporary. Analysts say this strategy could help it to woo aspirational shoppers who were priced out. But its newest collection, dubbed "RH Contemporary," will have a "value proposition that will be disruptive across multiple markets," he said. UBS analyst Michael Lasser said its new pricing strategy suggests that the brand is looking to court aspirational shoppers, which it may have alienated by previous price increases, in order to drive growth.

Persons: —, Gary Friedman, Friedman, what's, Michael Lasser, RH, Lasser Organizations: Contemporary, Analysts, Service, UBS

☆ Costco customers are bypassing the beef aisle to shop for chicken and pork as a recession looms
▼ + stars: | 2023-05-30 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Costco shoppers are ditching pricey meat products for cheaper alternatives. CFO Richard Galanti said that some of its customers are ditching pricier beef products for cheaper meats such as pork and chicken. Others are bypassing the fresh meat aisle entirely and opting for canned meat and fish products. These products cost less than national brands and are a quick way for customers to save money on their weekly shop. As food prices have stayed high, some higher-income shoppers have chosen to switch up their weekly shopping routine entirely.

☆ Temu's meteoric rise is fueled by social media, but some accounts promoting the shopping app appear to be fake — here's what experts say
▼ + stars: | 2023-05-29 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +4 min

Insider found hundreds of Twitter profiles of people claiming to be Temu ambassadors. Experts say these accounts are likely created by individuals or organizations who want to exploit coupon codes to earn commission. A display name – that includes a nickname or a seemingly real name – alongside a couple of emoticons, and the words: "Temu Ambassador, "Ambassador of Temu," or "Campus Ambassador of Temu." An example of one of the many Twitter profiles we found. All of the profiles we checked shared a link to a $20 coupon to be used on Temu's site.

☆ Temu is America's new dollar store
▼ + stars: | 2023-05-27 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +6 min

Temu is the internet's new discount store with bargain prices that rival dollar chains. Most of these products wouldn't look out of place at a dollar store. "If Amazon and Dollar Tree had a baby it would be Temu," one Twitter commenter wrote. "Temu is basically an online dollar store," another said. This is especially pertinent as stores like Dollar General and Dollar Tree continue to come under inflation-related pressures and raise their prices.

☆ Adidas and Yeezy staff were told to carry on as usual and ignore Kanye West's antisemitic rants, new report says
▼ + stars: | 2023-05-25 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Adidas and Yeezy staff were told to carry on as usual after Kanye West made antisemitic comments. A new Bloomberg report sheds light on the unraveling of the Adidas-Yeezy partnership. One unnamed source told Bloomberg that after Kanye West – now known as Ye – made antisemitic comments that led him to be suspended from Twitter and Instagram, Adidas was slow to react. Yeezy and Adidas workers were reportedly told "to keep working as if nothing unusual was happening," Bloomberg's Eugene Kim and Tim Loh wrote. "I can say antisemitic things and Adidas can't drop me.

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