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If Dave Gilboa kept better track of his glasses, Warby Parker might not exist. They co-founded Warby Parker, a pioneering direct-to-consumer brand that's sold millions of pairs of glasses, both online and in 269 brick-and-mortar stores across the U.S. and Canada. Warby Parker brought in nearly $670 million in revenue last year. "The need for glasses and contacts continues to grow and grow and grow," Blumenthal tells CNBC Make It. "And we're putting Warby Parker in a position to take advantage of that growth, to serve that very large growing need."
Persons: Dave Gilboa, Warby Parker, Gilboa, — Neil Blumenthal, Andy Hunt, Jeff Raider —, Blumenthal Organizations: Wharton School, University of Pennsylvania, CNBC Locations: Canada, Gilboa
Maggie Smith in "Harry Potter and the Half-Blood Prince." The following year, Smith played Desdemona in Olivier's "Othello." Smith played a celebrated British actor reckoning with her complex marriage to a closeted gay man played by Michael Caine. She was also regularly recognized by the British Academy Film Awards (BAFTAs), the Golden Globes and the Screen Actors Guild Awards. When the British newspaper The Telegraph asked Smith why she took the role, she quipped: "Harry Potter is my pension."
Persons: Maggie Smith, Oscar, McGonagall, Harry Potter, Dowager, Smith's, Chris Larkin, Toby Stephens, Dame Maggie Smith, Prince, Everett, Larkin, Stephens, Smith, Miss Jean Brodie, Violet Crawley, Dowager Countess Grantham, Nick Briggs, Tony, Queen Elizabeth II, Margaret Natalie Smith, Shakespeare’s, Laurence Olivier, Desdemona, Olivier's, Ronald Neame, Vincent Canby, Jean Brodie, Neil Simon, Michael Caine, Rowling's Harry Potter, Minerva McGonagall, Nobody Organizations: Warner Bros, PBS, Oxford Playhouse School, Britain's, Evening, New York Times, British Academy, Golden Globes, Screen, British, The Telegraph, Focus, NBC Locations: Downton, Lovage, Essex, England, U.S, London, Edinburgh, California, Los Angeles, British, Gosford
Paris Fashion Week: The best celebrity looks
  + stars: | 2024-09-27 | by ( Leah Dolan | ) edition.cnn.com   time to read: +2 min
Pascal Le Segretain/Getty ImagesKylie Jenner at Schiaparelli. Neil Mockford/GC Images/Getty ImagesRob Lowe. Pascal Le Segretain/Getty ImagesNicole Richie at Saint Laurent. Pascal Le Segretain/Getty ImagesGwyneth Paltrow. Neil Mockford/GC Images/Getty Images
Persons: Kendall Jenner, Bella Hadid, Miu Miu, Louis Vuitton, Here’s who’s, Daniel Craig, Rachel Weisz, Loewe, Stephane Cardinale, Corbis, Kloss, Jacopo Raule, Jeff Goldblum, Emilie Livingston, Pascal Le Segretain, Kylie Jenner, Scott A, Willow Smith, Lila Moss, Neil Mockford, Rob Lowe, Sienna Miller, Laurent Vu, Bauer, Griffin, Anya Taylor, Joy, Natalie Portman, Christian Dior, Swan, Lauren Hutton, Saint Laurent, Marechal Aurore, Cyril Pecquenard, USA Cole Sprouse, Kelly Rutherford, Abdul Saboor, Jennifer Garner, Kate Moss, Zoë Kravitz, Saint, Aitor Rosas Sune, WWD, Juliette Lewis, Nicole Richie, Gwyneth Paltrow Organizations: CNN, Paris, Callaway, Balmain, Getty, Christian, Abaca, Dior, Saint Locations: Schiaparelli, Chloé, Saint Laurent
CNN —Dame Maggie Smith, one of Britain’s best-known actresses whose long career ranged from starring opposite Laurence Olivier in “Othello” on stage and screen, to roles in “Harry Potter” and “Downton Abbey,” has died, her sons announced in a statement shared by their publicist Clair Dobbs. “It is with great sadness we have to announce the death of Dame Maggie Smith. Everett CollectionSmith was made a Dame Commander of the Order of the British Empire in 1990, and from then on was widely known as Dame Maggie Smith. She came to the notice of younger viewers as the strict but fair witchcraft teacher Minerva McGonagall in “Harry Potter and the Sorcerer’s Stone” (2001), also appearing in several “Harry Potter” sequels. In her later years, Smith became a role model for ageing gracefully, a process she handled with her customary charm and wit.
Persons: Maggie Smith, Laurence Olivier, , , “ Harry Potter ”, Downton, Clair Dobbs, Dame Maggie Smith, ” Smith, Smith, William Shakespeare’s “, Olivier’s, Miss Jean Brodie, Neil Simon’s, Judith Hearne, Dowager Countess, Everett, Mussolini, Franco Zeffirelli, Minerva McGonagall, “ Harry Potter, Harry Potter, Violet Crawley, Dowager, Robert Stephens –, , Beverley Cross Organizations: CNN, Chelsea, Westminster Hospital, Oxford University, Oxford Playhouse School, Oxford University Dramatic Society, The Old, British, Acclaim, Atlantic Locations: Ilford, London, Oxford, , , California, British, Florence, Italy, Grantham, “ Downton, Los Angeles
Meanwhile, Morgan Stanley raised its price target on Constellation Energy to $313m implying more than 20% upside. 7 a.m.: DA Davidson downgrades Microsoft, cites diminishing AI lead DA Davidson believes that Microsoft has lost its edge over competitors in artificial intelligence. The investment firm downgraded shares of the tech giant to neutral from buy, although analyst Gil Luria maintained his $475 price target. This could begin to have a material impact on the company's returns beginning in 2025, the analyst wrote. Wells Fargo analyst Neil Kalton also hiked his price target on the stock to $300, implying nearly 18% upside ahead.
Persons: Raymond James, Morgan Stanley, Bernstein, DA Davidson, Davidson, Gil Luria, Luria, GitHub Copilot, — Lisa Kailai Han, Daniel Roeska, Roeska, Lisa Kailai Han, Ronald Josey, Josey, Meta, Atif Malik, Malik, Raymond James downgrades, Brian Gesuale, Gesuale, David Arcaro, Arcaro, Wells, Neil Kalton, — Fred Imbert Organizations: CNBC, Constellation Energy, Motors, Microsoft, DA, Nvidia, Motors General Motors, General Motors, Hyundai, Citi Locations: Palantir, Friday's, U.S, 25e, GenAI
“Women will be happy, healthy, confident and free,” he said during an extended riff at the rally. And then he asserted: “You will no longer be thinking about abortion.”A spokeswoman for the Harris campaign, Sarafina Chitika, said that “women know better.”“He tries to tell us what to think and what we care about,” Ms. Chitika said. On Monday night, he repeated that the court’s ruling returned authority to the states to determine their own limits on abortion, a move that he said that many Americans had favored for decades. “Everyone wanted abortion out of the federal government and into the states,” he said. Mr. Trump also repeated a falsehood that he amplified during his debate against Ms. Harris earlier this month, saying that Democrats had been demanding abortions in the ninth month of a pregnancy or “an execution of a baby after birth.”
Persons: Trump, Jean Carroll, , Harris, Sarafina Chitika, , ” Ms, Chitika, Roe, Wade
Constellation Energy stock is still rising after the power company's landmark announcement last week that it plans to restart the Three Mile Island nuclear plant in Pennsylvania. The operational risk to bring the plant back online in 2028 appears manageable, Morgan Stanley told clients in a note on Monday. Renewable energy and natural gas stocks could also indirectly benefit from nuclear deals, according to Morgan Stanley analyst Stephen Byrd. Renewable stocks such as AES Corp. , NextEra Energy and First Solar could get a tailwind for the same reason, according to Morgan Stanley. CEO John Ketchum said the company is looking at restarting the Duane Arnold nuclear plant in Iowa.
Persons: Morgan Stanley, David Arcaro, Arcaro, Stephen Byrd, Byrd, NextEra, John Ketchum, Duane Arnold, Wells, Neil Kalton, — CNBC's Michael Bloom Organizations: Constellation Energy, Constellation, Microsoft, Vistra Corp, Vistra, Public Service Enterprise Group, Tech, . Companies, GE Vernova, Siemens Energy, Mitsubishi Power, NRG Energy, AES Corp, NextEra Energy Locations: Pennsylvania, Iowa, Wells Fargo
Foot Locker turns 50 while on a bit of an upswing two years into Dillon's tenure as CEO. Coi Leray performs at Foot Locker 50th anniversary event on September 16, 2024 in New York. "Whereas Foot Locker looks vulnerable because it just doesn't have all these other strings to its bows," said Saunders. Foot Locker store location on 34th street in New York City. The company is working to refresh two-thirds of its global Foot Locker and Kids Foot Locker doors by the end of 2025, and said 40% of its North American footprint is now off-mall.
Persons: Patrick T, Mary Dillon, Locker, Mike Vitelli, Isabella Picicci, we've, Dillon, Neil Saunders, Dick's, Saunders, they're, Frank Winfield Woolworth, Janine Stichter, Foot, Frank Bracken, Bracken, America sputtered, WSS, , she's, That's, Stichter, they'd, Kim Waldmann, it's, Waldmann, that's, Foot Locker Organizations: Nike, Foot, Beverly Center, Fallon, Bloomberg, Getty, PR, Adidas, CNBC, Goods, JD, JD Sports, City of, Forbes, Jordan, she's Locations: Los Angeles, New York City, New York, City, City of Industry , California, U.S, America, North America, GlobalData, Foot
Namazi previously spoke with Amanpour by phone in March 2023 from inside Iran’s notorious Evin Prison, in what was an unprecedented interview. “That is the smell of freedom.” Forty years later, Siamak Namazi emerged into the night air after eight years in prison. The logistics of his prison interview weren’t complicated. And it’s not just an American problem: Evin Prison is “a dystopian United Nations of hostages,” Namazi says, with many countries’ citizens behind bars. Emotion in his voice, Namazi tells Amanpour that, eventually, he’d like to meet the man who freed him.
Persons: Siamak, CNN’s Christiane Amanpour, , Namazi, Amanpour, Babak, ” Namazi’s, Siamak Namazi, , Jonathan Ernst, , Joe, Biden, ” ‘, ” Namazi, Dave, I’m, “ unutterable, Namazi’s, Saddam, Hussein, , Zahra Kazemi, I’d, Jared Genser, Genser, he’d, could’ve, Christiane Amanpour, Neil Hallsworth, crackly, Emad, Morad Tahbaz, Donald Trump, , Antony Blinken, Janet Yellen, wasn’t, Biden’s Organizations: CNN, Obama, Trump, Getty, State Department, New York Times, Evin, Republicans, United Nations, United, Iranian Revolutionary Guard Corps Locations: American, Iran, United States, AFP, , Evin, America, Vienna, Austria, United States of America, Republic, White Plains , New York, Islamic Republic, Iranian, New York, United Nations
More retail bosses have walked the plank post-pandemic, with boards demanding better performance. Being CEO of a retail company is not an easy job right now. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJohn Donahoe is the latest retail CEO to hit the chopping block.
Persons: , John Donahoe, Elliott Hill, Neil Saunders Organizations: Nike, Service, GlobalData Retail, Business
Read previewA24's latest dark thriller "A Different Man" is a twisted exploration of the inner and outer self, featuring a standout performance from British actor Adam Pearson. As of 2024, Adam told People magazine that he's undergone 39 procedures to remove his excess tumors that continuously grow back. "I go into everything with a clear head and a full heart," Pearson told People in a recent interview. AdvertisementPearson's role in 'A Different Man' was written for himPearson as Oswald in "A Different Man." Schimberg also said that he wouldn't have considered making "A Different Man" if Pearson passed on the role.
Persons: , Adam Pearson, Sebastian Stan, Edward, Guy, Oswald, Pearson, LOU BENOIST, Neil Pearson, Adam, Neil, he's, Jonathan Glazer's, Scarlett Johansson, Aaron Schimberg's, Matt Infante, Schimberg, I've, wouldn't, doesn't, Aaron, It's Organizations: Service, Business, Deauville American Film Festival, Getty, The Observer, University of Brighton, Pearson Twins Locations: British, Hollywood
Nike is getting a new CEO as struggles mount
  + stars: | 2024-09-19 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
New York CNN —Nike, struggling from rising competition and its own strategy mistakes, is making a major shakeup. The athletic giant announced Thursday that CEO John Donahoe will retire next month and will be replaced by Elliott Hill, a veteran former Nike executive. Nike’s stock rose 9% during after-hours trading Thursday, a sign Wall Street was eager for a CEO change. Nike’s stock has dropped 24% so far this year. But the change hurt Nike’s sales.
Persons: John Donahoe, Elliott Hill, , ” Neil Saunders Organizations: New, New York CNN, Nike, Dick’s Sporting Goods, “ Nike, GlobalData Locations: New York
Rihanna’s fluffy Jacquemus bathrobe
  + stars: | 2024-09-19 | by ( Leah Dolan | ) edition.cnn.com   time to read: +2 min
At the UK launch of her latest beauty endeavor, Fenty Hair, the global megastar posed for photos outside Selfridges, London’s historic department store, not in satin, silk or sequins — but a fluffy bathrobe worn off-the-shoulder. The cream-colored fuzzy gown was designed by Jacquemus and styled by Jaheel Weaver with gold point-toe pumps and long crystal earrings. The bathrobe went from cosy staple to red carpet appropriate. Ora even kept the gag going when she changed into a shorter bathrobe for her live performance. Andreas Rentz/Getty ImagesMore recently, Isabelle Huppert has been making the case for bathrobe-style textiles to receive the red carpet treatment.
Persons: Jaheel Weaver, Neil Mockford, Rihanna, Rihanna isn’t, Rita Ora, Ora, Andreas Rentz, Isabelle Huppert, Huppert, Beers Organizations: CNN, MTV, Cannes Film Locations: Capri ., Spain
Over the last five years, roughly 700 orca run-ins have been recorded, according to the Atlantic Orca Working Group-GTOA, a partnership of Spanish and Portuguese scientists that monitors the Iberian killer whale population. Why Iberian orcas are attacking ships in the Strait of Gibraltar, one of the world’s busiest waterways, has quickly become one of the terrifying mysteries of the sea. An Iberian orca is captured tracking a vessel in the Strait of Gibraltar in footage obtained by rights group WeWhale. “They need to ram, they need to hit, they need to bite, to isolate this large tuna. The subspecies striking boats is called the Iberian orca, and its future is anything but certain.
Persons: Manuel Merianda, Merianda, Angela Neil, , Janek Andre, WeWhale, Andre, ” Bruno Diaz Lopez, Michael Fiorentino, orcas, ” Andre Organizations: Ocean, Orca, NBC News, NBC, orcas, WeWhale, Dolphin Research Institute, Coastal Management, Hoyo, International Union for Conservation Locations: GIBRALTAR, Africa, Spanish, Gibraltar, Barbate, Spain, Strait, Atlantic
New York CNN —A year ago, America’s stores declared a shoplifting epidemic. Target also closed nine stores, saying “theft and organized retail crime” threatened worker and customer safety and made business unsustainable. Many retailers’ merchandise losses have stabilized or improved, and chains have publicly dialed back their rhetoric. Their shrink rate — lost inventory as a percentage of sales — is their best estimate for items that go missing. The shoplifting rate in the first half of 2024 was also 10% higher than in the first half of 2019.
Persons: Target, , Michael Fiddelke, Lindsey Nicholson, Gavin Newsom, , Michael Baker, DA Davidson, Donald Trump, William Blair, Walgreens ’, James Kehoe, ” Neil Saunders, “ That’s, it’s, Baker, ” Baker, David Johnston, Duane Reade, Angela Weiss, Ernesto Lopez, Edgar Dworsky, “ We’ve, ” Johnston Organizations: New, New York CNN, Target, Getty, , DA, CNN, Companies, National Retail Federation, Criminal, Retailers Locations: New York, Queens , New York, California, New York City
The committee made the estimate after launching investigations into Shein and Temu more than a year ago. "If the de minimis exemption is removed, then the cost of products from marketplaces like Shein and Temu will rise. They will still be cheap marketplaces but they won't have quite the competitive edge on price that they do now," Saunders told CNBC in an email. On Friday morning, the Biden administration announced plans to bar overseas shipments of products that are subject to U.S.-China tariffs from being eligible for the de minimis exemption. Both Shein and Temu declined to tell CNBC if they will raise prices due the proposed changes.
Persons: Biden, Neil Saunders, GlobalData, Saunders, that's, Shein Organizations: Republican, Chinese Communist Party, CNBC, CCP, U.S . Customs Locations: U.S, China, United States
The sharp slump in crude oil this month has driven down energy stocks, but the pullback also presents an opportunity for investors to gain exposure to some high-quality companies, according to Goldman Sachs. Crude oil futures rebounded somewhat Wednesday, but the U.S. benchmark and Brent are still down about 8.5% and 10.4%, respectively, in September. Wall Street analysts have an average stock price target of $139 on Conoco, implying upside of nearly 37% from Wednesday's close of $102.57 per share, according to FactSet data. The Street has an average price target of $18 on Talos, suggesting nearly 70% upside from Wednesday's close of $10.84 per share, according to FactSet. EQT has an average target price of $43, based on the Street consensus among analysts, representing a return of 31% from Wednesday's close of $32.88 per share, according to FactSet.
Persons: Goldman Sachs, Brent, Goldman, Neil Mehta, Mehta, Conoco, Tim Duncan, EQT, — CNBC's Michael Bloom Organizations: Brent, ConocoPhillips, Wall Street, Talos, EQT Locations: U.S, Wednesday's
Read previewVice President Kamala Harris hammered former President Donald Trump on abortion during the presidential debate on Tuesday, invoking real-world consequences of abortion bans. Harris responded by saying more than 20 states have since passed "Trump abortion bans," including some that do not have exceptions for rape or incest, calling the bans "immoral." During the exchange, the vice president looked directly at Trump with a powerful response that included specific examples of how state-level abortion bans have impacted reproductive rights. AdvertisementAbortion is also a winning issue for Democrats and has been important for turnout in states where abortion referendums have been on the ballot. President Joe Biden, notably, botched his answer on abortion during his debate with Trump before he dropped out of the race.
Persons: , Kamala Harris, Donald Trump, Trump, Roe, Wade, SCOTUS, Harris, didn't, Joe Biden, Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett Organizations: Service, Pew Research, Business, Trump, Court, GOP, Republicans, Biden Locations: Arizona, Georgia
While the concert's dates are quickly approaching, there are still a few avenues for how to buy Life is Beautiful Block Party tickets. The 2024 Life is Beautiful Block Party is split between two stages, with no overlapping sets from musicians and lower ticket prices for Life is Beautiful. Life is Beautiful Block Party 2024 festival scheduleThe 2024 Life is Beautiful Block Party starts on September 27 at 5 p.m. CT. On the first day, seven artists will perform across two different stages. How to buy tickets for Life is Beautiful Block Party 2024You can buy original tickets to the 2024 Life is Beautiful Block Party on the festival's website. The cheapest original 2024's Life is Beautiful Block Party tickets begin at $149 for Friday-only or Saturday-only General Admission passes.
Persons: Peggy Gou, James Blake, Thundercat, we've, Jamie XX, Neil Frances, John Talabot, Toro Y Moi, Fifi Organizations: Business, Block, Downtown, Arts District, Vivid Locations: Vegas, Downtown Las Vegas, Las Vegas
The rock group The White Stripes have filed suit against GOP presidential nominee Donald Trump's campaign for its use of the band's megahit "Seven Nation Army" in a since-deleted campaign video. White Stripes drummer Meg White is also listed as a plaintiff in the suit, which charges Trump and the campaign with "flagrant misappropriation." The duo seek unspecified monetary damages and an injunction preventing Trump from using their songs. A Trump campaign spokesperson, as well as a legal representative for the former president, did not immediately respond to requests for comment. Jack White had foreshadowed the suit in an Instagram post a week ago after a Trump campaign staffer posted the video to social media Aug. 29, writing on Instagram: “Don’t even think about using my music you fascists.
Persons: Donald Trump's, Jack White, Woody Guthrie, Meg White, Trump, , , Abba, Isaac Hayes, Eddy Grant, Neil Young, Beyoncé, Celine Dion, Seven Nation Army ” Organizations: Stripes, GOP, Army, Court, Trump, , Seven Nation Army, soccer team Locations: New York
New Hampshire voters will head to the polls Tuesday for a primary that will set up the matchup for one of just two governor’s races in presidential battleground states this year. In addition to North Carolina, New Hampshire is the only other swing state to hold a race for governor this election cycle. “I think that helps people in New Hampshire realize that Kelly Ayotte is a New Hampshire Republican, not a straight party loyalist,” Williams said. In New Hampshire, abortion is banned after fetal viability, or around the 24th week of pregnancy. “We’ve seen in the last few years that governors and state leadership sort of make or break it when it comes to protecting abortion rights,” Levy said.
Persons: Sen, Kelly Ayotte, Chuck Morse, Chris Sununu, Joyce Craig, Cinde Warmington, Amy Walter, Cook, Kamala Harris, Ayotte, Morse, Donald Trump, Trump, didn’t, hasn’t, Chuck Morse’s, he’s, Kelly, , Fergus Cullen, Cullen, Trumper, Sununu, Hillary Clinton, Joe Biden, “ She’s, Ryan Williams, , ” Williams, “ Kelly, she’s, Maya Harvey, Chuck, ” Harvey, Craig, Jon Kiper, Warmington, Joyce Craig’s, Philip Stein, Kelly Ayotte’s, Joyce Craig's, ” Craig, Craig Brown, Craig “, “ It’s, Williams, They’ve, nodded, Neil Gorsuch, Gorsuch, Roe, Wade, Izzi Levy, “ We’ve, ” Levy, Dobbs, we’ve, Jason Osborne Organizations: New, Republican, GOP Gov, Democrats, Manchester, Hampshire, White, Democratic, GOP, New Hampshire Republicans, ” New, Republican Party, New Hampshire Republican, Purdue Pharma, Ayotte, Republicans, Hampshire Democrats, Trump, Democratic Governors Association Locations: New Hampshire, state’s, North Carolina , New Hampshire, Trump, Dover, ” New Hampshire, Manchester, Hampshire, New England, “ New Hampshire
In a decision on August 27, the US Third Circuit Court of Appeals found that, in 2021, TikTok — via its "For You Page" algorithm — recommended a video promoting a "blackout challenge" to 10-year-old Nylah Anderson. The company had argued in court that it was immune from prosecution due to Section 230 of the Communications Decency Act. AdvertisementBut the Third Circuit ruling could change that. French and other supporters of the Third Circuit ruling argue that TikTok's liability protections should end where its algorithmic suggestions begin. If they do, their ruling could have even broader consequences than the Third Circuit ruling.
Persons: , Nylah Anderson, Paul Matey, TikTok, Nylah, asphyxiate, We'd, David French, Betsy Rosenblatt, Rosenblatt, Clarence Thomas, Neil Gorsuch, SCOTUS, Amy Coney Barrett Organizations: Service, US, Appeals, TikTok, Business, Communications, Circuit, New York Times, Third Circuit, Spangenberg, for Law, Technology, Arts, Moody
Amazon is rolling out a new “no-frills” private label brand called Amazon Saver, with most items priced at less than $5 and that include an array of household staples and pantry items such as cookies and crackers and perishable items like sliced turkey and ham. Shoppers at its roughly 50 Amazon Fresh stores and online are getting price cuts on more than 3,000 items. Typically, Prime members get a 10% discount, but now they can get up to 50% off eight to 15 grocery items that change weekly, including fresh produce and meats. And more than 1,200 rotating grocery items from popular brands will be discounted 25%. Prime members will also get an additional 10% off its new lineup of Saver products.
Persons: , Neil Saunders, ” Saunders, Sarah Wyeth Organizations: New, New York CNN, Target’s, Amazon, Walmart, Target, Aldi, GlobalData, , CNN, Shoppers Locations: New York, Aldi
President Donald Trump and his first attorney general, Jeff Sessions, in Quantico, Va., on Dec. 15, 2017. “Please beware that this legal exposure extends to Lawyers, Political Operatives, Donors, Illegal Voters, & Corrupt Election Officials." Since leaving the Trump administration, Clark has argued that the attorney general should not be independent. Davis told NBC News that he does not expect he would fill the role of acting attorney general but that another Trump ally could. Donald Trump, left, and Attorney General William Barr at the White House on May 22, 2019.
Persons: Donald Trump, Trump, “ Trump, , Stephen Gillers, Mark Zuckerberg, Jeff Sessions, Evan Vucci, ” Trump, , Joe Biden, Kamala Harris, Nancy Pelosi, Anthony Fauci, Bill Gates, Jack Smith, Barack Obama, Liz Cheney, Richard Nixon’s, Robert Mueller, general’s, Jeffrey Clark, Jose Luis Magana, Clark, Russ Vought, , ” Clark, Mike Davis, Sen, Chuck Grassley, Neil Gorsuch, ” Davis, Hillary Clinton, George Soros, Davis, General Merrick Garland’s, Trump’s, Stephen Richer, ” Richer, Ilya Somin, Gene Hamilton, William Barr, Chip Somodevilla, Hamilton, ” Gillers, Zuckerberg Organizations: of Justice, New York University Law School, , and Drug Administration, Centers for Disease Control, WIN, Political, Illegal Voters, Democratic National Convention, Republican, Justice Department, White, White House, Democratic, Trump, Conservative Political, DOJ, , Supreme, Washington , D.C, NBC News, Trump DOJ, Capitol, D.C, FBI, George Mason University, Partisan, America, NYU Locations: Quantico, Va, Oxon Hill, Md, America, Iowa, Washington ,, Albany , Atlanta, New York City, Palm Beach, Phoenix, Fort Pierce , Florida, Lago, Maricopa County , Arizona
Discount home goods retailer Big Lots filed for bankruptcy protection on Monday after high interest rates and a sluggish housing market slowed demand for its low-priced furniture and decor. As part of its Chapter 11 filing, Big Lots agreed to sell its business to private equity firm Nexus Capital Management for about $760 million, consisting of $2.5 million in cash plus its remaining debt and liabilities, court records show. While discount retailers tend to do well in rough economic cycles, Big Lots primarily caters to lower- and middle-income consumers, who have curbed discretionary spending at a higher rate than their more affluent counterparts. “Big Lots is not always good value for money. A&G Real Estate Partners has been tapped as Big Lots’ real estate advisor, while Nexus will be represented by law firm Kirkland & Ellis.
Persons: Lots, Bruce Thorn, ” Evan Glucoft, , Big, Glucoft, Cos, ” Neil Saunders, GlobalData, ” Saunders, Davis Polk, Kirkland, Ellis Organizations: Big, Nexus Capital Management, Walmart, Goods, Guggenheim Securities, Real, Partners
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