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Coca-Cola unveils all-new bottles — sort of
  + stars: | 2024-03-19 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +4 min
A year later, Coca-Cola made a major change when it took out Sprite bottles’ green PET, which was an additive that was difficult to recycle into new bottles. Here's what the new Coca-Cola bottles look like. However, the label and caps will not be made from 100% recycled plastic. Companies like Coca-Cola have been making more environmentally packaging as consumer awareness and demand for action has intensified in recent years. Coca-Cola’s Smartwater brand also plans to introduce bottles made with 100% recycled plastic in New York and California later this year.
Persons: ” Kurt Ritter, , Ritter, it’s, Emma Priestland, “ Coke, Organizations: New, New York CNN, CNN, Dasani, Cola Company, Coca Locations: New York, North America, California
Fabrics retailer Joann files for bankruptcy
  + stars: | 2024-03-18 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in fresh funding that helps reduce its debt in half, which had ballooned to $1 billion. However, that has since faded, and inflation has soared, prompting customers to spend less on non-essential items. Joann’s stock was delisted from the Nasdaq and will become privately owned following the bankruptcy process, which it expects to happen as fast as next month. “The bankruptcy of Joann has been looming for a long time and was always a matter of when, rather than if,” said Neil Saunders, managing director and retail analyst for GlobalData, in a note Monday.
Persons: New York CNN — Joann, , Scott Sekella, Joann, Neil Saunders, , ” Saunders Organizations: New, New York CNN, Nasdaq, GlobalData Locations: New York, Ohio
New York CNN —On St. Patrick’s Day, throwing back an Irish whiskey might taste different than it used to. Flavored whiskey is a $1.5 billion category and accounts for 20% of all US whiskey sales. In the past few years, flavored whiskey sales have outpaced unflavored whiskey, according to Southern Glazer’s distributors. But with younger drinkers gravitating toward punchier flavors, Irish brands “have to be much more flexible than their historical beliefs have been,” he told CNN. Flavors are “a good way to get them into the brand and into the whiskey category, and certainly into Irish whiskey,” Basford said.
Persons: Patrick’s, , , Lander Otegui, Bushmills, Jameson, Conor McGregor’s, Otegui, Honey, Paul Basford, William Grant, Basford, Jack Daniel’s, Jim Beam, ” Jon Berg, ” Basford, ” Otegui Organizations: New, New York CNN, CNN, Tullamore D.E.W, Tullamore, NIQ Locations: New York, St, Southern, Tullamore D.E.W, Tullamore
New York CNN —Lyft and Uber will stop offering services in Minneapolis on May 1 after the city council overrode the mayor’s veto of a minimum wage for rideshare drivers. The city council on Thursday voted 10-3 in favor of the override, allowing rideshare drivers to be paid the local minimum wage of $15.57 an hour. “Everyone wants to see Uber and Lyft drivers get paid more. However, the analysis Frey referred to showed lower numbers — $0.89 per mile and $0.49 per minute — to make minimum wage. Minneapolis is debating the minimum wage as gig workers across the country are advocating for fair wages and job benefits.
Persons: New York CNN — Lyft, Uber, Lyft, , it’s “, Jacob Frey, ” Frey, Frey, Tim Walz, ” Lyft, – CNN’s Jennifer Henderson, Ramishah Maruf Organizations: New, New York CNN, CNN, Twin, WCCO, Minnesota Gov, Democrat, Uber, New York City Locations: New York, Minneapolis, Twin Cities, Minnesota, California
New York CNN —Multiple Taco Bell locations in Oakland have closed their dining rooms because of safety concerns in the California city, which has been struggling with rising crime affecting businesses both big and small. Diversified Restaurant Group owns about 300 Taco Bell and Arby’s locations, predominately in the western US. At least four Taco Bell locations in Oakland have closed their dining rooms, however the drive-thru remains operational. CNN affiliate KPIX-TV visited a Taco Bell location that has been robbed four times in the past four months, finding signs notifying customers of the closure. One Oakland location still has their dining room open but has gone cashless to discourage robberies, KPIX-TV reported.
Persons: Taco Bell, Taco, Gavin Newsom, – CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, Bell, Group, Restaurant Group, Taco Bell, Taco Bell’s, CNN, Oakland, San, Criminal, Patrol Locations: New York, Oakland, California, Cane’s, San Francisco Chronicle
New York CNN —Stella Artois, the nearly century-old brew, isn’t immune to the difficulties facing beer sales, so it’s drafting one of the world’s most recognizable personalities to help the lager return to its former glory: David Beckham. On Tuesday, the Anheuser-Busch InBev-owned brand introduced the former soccer superstar as the new face of its beer, naming Beckham as its “official ambassador” for Stella Artois. David Beckham is the new face of Stella Artois. Beckham joins fellow soccer superstar Lionel Messi in the A-B ambassador portfolio. “Beckham certainly gives Stella Artois the kind of top-tier recognition that A-B has historically leaned on to gain attention,” Sightline’s Roth said.
Persons: New York CNN — Stella Artois, David Beckham, Beckham, , Stella Artois, weren’t, Bump, it’s, ” Bryan Roth, Richard Oppy, Oppy, Victoria Beckham, David, ” Oppy, Matt Damon, Zoe Saldana, Lionel Messi, Bud Light, “ Beckham, ” Sightline’s Roth, , ” Roth, Messi “ Organizations: New, New York CNN, Anheuser, Busch InBev, Bump Williams Consulting, Feel Goods Company, CNN, InBev, Maserati, Wimbledon, Roland, Garros, Inter Miami CF, Major League Soccer, Bowl, North America, Bud Light Locations: New York, Europe, America
New York CNN —WWE and Logan Paul’s Prime have struck a “record-setting” deal to feature the sports drink as the first-ever brand logo to appear in the center of the wrestling mat. Notably, the deal is for Prime Hydration and not for its energy drink, Prime Energy, which riled up some US lawmakers last year for its high caffeine content. In January, Netflix acquired the exclusive rights to “WWE Raw,” currently seen weekly on Comcast’s USA cable network. However, controversy surrounded the company when disturbing allegations of sexual assault, trafficking and physical abuse against WWE founder Vince McMahon came to light. McMahon, who has denied the accusations, resigned from the company a few days later.
Persons: Logan, , Paul, Jake, , Bud Light, Mat, Dwayne “, ” Johnson, Vince McMahon, McMahon Organizations: New, New York CNN, WWE, Bank, Prime Energy, UFC, Modelo, Netflix, Comcast’s USA Locations: New York,
New York CNN —Why does actor Aaron Paul co-own a mezcal brand? Rob Kim/Getty Images for NYCWFFIt’s an “opportunity, to be honest,” Cranston told CNN. Celebrities are attractive to the spirits space because of their clout and connections, so the industry has “the door open. Four years later they sold the tequila brand to liquor giant Diageo for $1 billion, and the industry gold rush was on. The side of a Casamigos delivery truck promoting George Clooney and Rande Gerber's tequila brand in a 2015 photo.
Persons: Aaron Paul, Bryan Cranston, , Niro, Issa Rae, Dwayne “, ” Johnson, Matthew, Camila McConaughey, Eva Longoria, Casa Del, Kendall Jenner, Shirley Temple, Warren Beatty, Rob Kim, ” Cranston, George Clooney, Rande Gerber, George Rose, Ryan Reynolds, Conor McGregor, Jose Cuervo, Michael Yanover, Yanover, Jeff Spicer, ” Lisa Hawkins, , Drizly, Dwayne Johnson, Mike Segar, ” Andrew Chrisomalis, Tequila, Ed Mundy, ” Mundy, Sean “ Diddy ” Combs, Combs, Jennifer Lopez’s Delola, Lopez, she’s, Delola, Paul, Cranston, Dos, ” Applebee’s, ” Aaron Paul, CAA’s Yanover, , There’s, Kylie Jenner, Kendall, It’s, I’ve Organizations: New, New York CNN, Hombres, Hollywood, Dos Hombres, Food Network New York, Food Network New York City Wine, Food Festival, CNN, Diageo, Aviation, UFC, Creative Artists Agency, , Reuters, Jefferies, Diddy, New York, New York City Wine, Applebee’s Locations: New York, Casa Del Sol, Food Network New York City, Hollywood, New York City, Iowa, Applebee’s
Some of the 800 new locations will be store conversions from its now-complete acquisition of Winn-Dixie and Harveys Supermarkets, with a “significant number” of those locations — largely located in the Southeast — ditching their respective names and being remodeled into an Aldi. Approximately 50 stores will be converted later this year, with a majority of those reopening under the Aldi name in 2025. However, the Winn-Dixie and Harveys Supermarkets names won’t completely disappear: Aldi said that a “meaningful amount” of locations will retain that branding. Aldi’s newest plan brings its store count to nearly 3,000 US locations, a notable expansion but still trailing against its rivals. If their merger is approved, Kroger and Albertson’s will have about 4,500 locations and Walmart, the nation’s largest grocer, has nearly 5,000.
Persons: Aldi, Winn, Neil Saunders, Saunders, ” Saunders, Albertson’s Organizations: New, New York CNN, Winn, Dixie, Harveys, Aldi, GlobalData, Kroger, Walmart Locations: New York, Northeast, Midwest, West, Southern California, Phoenix, Las Vegas
New York CNN —Starbucks’ Middle East franchisee, Alshaya Group, is cutting thousands of jobs at its coffee shops because of a “challenging” work environment as the chain grapples with boycotts over the brand relating to Israel’s war against Hamas in Gaza. Kuwait-based Alshaya has owned rights to operate Starbucks in the Middle East for more than 25 years and operates around 1,300 locations across the region, employing about 11,000 people. Starbucks’ most recent earnings report missed expectations, partially because of weaker sales in the region. Starbucks isn’t alone: McDonald’s said last month that it’s experiencing “meaningful business impact” in the Middle East because of the war. Brands, which owns KFC and Pizza Hut, said its chains’ “sales were impacted by the conflict in the Middle East region with varying degrees of impact,” which dented same-store sales growth in several countries.
Persons: Alshaya, , , McDonald’s Organizations: New, New York CNN, Starbucks, East, Alshaya, CNN, Reuters, Alshaya Group, Brands Locations: New York, Gaza, East, Northern Africa, Kuwait, Western
Kraft’s newest Oscar Mayer hot dog is missing meat
  + stars: | 2024-03-06 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +4 min
In the past year, the company rolled out a vegan boxed Mac & Cheese, mayonnaise and vegan cheese slices. Sinking sales have sparked troubles for pioneers, like Beyond Meat (BYND), which also has sausage products. The once-trendy plant-based meat company has faced falling demand and ballooning costs in recent years. Frey said that recent innovations in plant-based meat products, such as improving taste, texture and expanding options (i.e. Besides taste, plant-based meat “faces challenges like price competitiveness, distribution issues and consumer skepticism,” Frey said.
Persons: New York CNN — Oscar Mayer, Kraft Heinz, Oscar Mayer “ NotHotDogs, NotSausage, there’s, Sherry Frey, Frey, , Oscar Mayer, , , ” Frey, Kraft, NIQ’s Frey Organizations: New, New York CNN, CNN, Kraft The Kraft Heinz Company, Kraft, Kraft Mac Locations: New York, Kraft’s,
BowFlex files for bankruptcy
  + stars: | 2024-03-05 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +1 min
New York CNN —Peloton isn’t the only at-home exercise equipment company feeling the pain: BowFlex is too, announcing Tuesday that it has filed for bankruptcy. BowFlex blamed its bankruptcy on the “post-pandemic environment and persistent macroeconomic headwinds” and said it received interest from “multiple” companies but chose Johnson Health Tech because it will “maximize value for our stakeholders through this process.”A $25 million debtor-in-possession financing will allow BowFlex (BFX) to operate normally and keep its employees paid. Johnson Health Tech makes similar exercise equipment under the Matrix, Horizon Fitness and Vision Fitness brands. Washington-based BowFlex makes several products, including treadmills, ellipticals and its well-known home-gym contraption that lets people do more than 70 weight-based exercises. Peloton said last month that its turnaround plan isn’t going as planned and NordicTrack-owner iFit scrapped its plans to go public in 2022.
Persons: BowFlex, Johnson, iFit Organizations: New, New York CNN, Johnson Health Tech, Fitness, Nautilus Locations: New York, Taiwan, Washington
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New York CNN —Ticket prices to see one of Caitlin Clark’s final home games for Iowa are taking off since Clark announced her intention to enter the 2024 WNBA Draft. Clark can further etch her name into the history books on Sunday, needing 18 points to pass Pete Maravich’s all-time college scoring record of 3,667 points. TickPick said that the most expensive listing for that game has sold for $1,001 at Carver-Hawkeye Arena in Iowa City, Iowa. I am excited to be entering the 2024 WNBA Draft,” she said in a post on X. The WNBA Draft will be held on April 15, with the Indiana Fever expected to draft her after the team won the lottery for the No.
Persons: Caitlin Clark’s, Clark, Pete Maravich’s, TickPick, ” TickPick, Brett Goldberg, , Organizations: New, New York CNN, Iowa, Ohio State, NCAA, FOX, University of Michigan, CNN, Big, WNBA, Indiana Fever Locations: New York, Iowa City , Iowa, Minneapolis, Iowa’s, Iowa
New York CNN —Oprah Winfrey is leaving the board of WeightWatchers, ending a nearly decade-long stint as a director of the beleaguered company that has faced sudden competition from Ozempic. WeightWatchers shares (WW) plunged 25% in premarket trading Thursday and would be down 85% for the past six months if the premarket losses hold. WeightWatchers has faced more competition recently from GLP-1 prescriptions drugs like Ozempic and Wegovy sometimes used for weight loss. Last year, WeightWatchers also made a $100 million-plus deal to buy Sequence, a telehealth business that offers virtual prescriptions to patients for these weight loss drugs where appropriate. Winfrey told People Magazine in December that she has added a “weight-loss medication to her regimen” but didn’t specify which drug.
Persons: Oprah Winfrey, Winfrey, , Oprah, Sima Sistani, WeightWatchers, ” Winfrey Organizations: New, New York CNN, Ozempic, National Museum of, WeightWatchers, Magazine Locations: New York, GLP
Panera Bread is overhauling its menu
  + stars: | 2024-02-29 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —Panera Bread is undergoing its “largest menu transformation ever,” shifting away from its attempt at dinner and refocusing on what it’s best known for, like sandwiches and salads. Panera didn’t release a full list of the menu items that are getting the axe, other than confirming that the flatbreads it introduced in 2019 are being eliminated. Panera confirmed that the kitchen sink cookie, kids menu and soufflés are staying. Panera teased that more details about that menu changes will be unveiled in March. Panera is also aiming to lure in budget-conscious customers with some of the new menu items being priced under $10.
Persons: Panera, ” Alicia Mowder, , ” Panera Organizations: New, New York CNN, CNN, “ Bravo Locations: New York, Bacon
Expedia is cutting 1,500 jobs as travel demand slows
  + stars: | 2024-02-27 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +1 min
New York CNN —Expedia, the online travel agency, is eliminating about 1,500 employees as part of an “organizational and technological transformation.”The cuts, which amount to nearly 9% of its 17,100-strong global workforce, come amid slowing travel demand following a post-pandemic boom and a broader shakeup at the company, including a new CEO. Expedia (EXPE) said in a regulatory filing that the cuts will result in an $80 million to $100 million charge to its bottom line because of severance and compensation benefits costs. Over time, Expedia has acquired several online traveling booking platforms including Hotels.com, Vrbo, Orbitz, Hotwire.com and Travelocity. An Expedia spokesperson said that the changes “will result in the elimination of some roles” that “allows the company to invest in core strategic areas for growth.”Expedia had previously announced that CEO Peter Kern was departing his role. Ariane Gorin, who is president of Expedia for Business unit, will take over the position in May when Kern’s contract ends.
Persons: New York CNN — Expedia, , Expedia, wasn’t, , ” Expedia, Peter Kern, Ariane Gorin, Max Organizations: New, New York CNN, CNN Locations: New York
Wendy’s will soon begin testing surge pricing
  + stars: | 2024-02-27 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN —The price of a Wendy’s Frosty could soon fluctuate throughout the day as the chain looks to introduce Uber-like surge pricing on its menu. The practice, known as “dynamic pricing,” will begin testing in 2025, Wendy’s recently revealed in an earnings call. Surge pricing is common with sports and concert tickets and for ride-hailing apps, with services like Ticketmaster and Uber using sophisticated dynamic pricing algorithms that change minute by minute, based on demand. However, there hasn’t been widespread adoption from restaurants because of the labor it takes employees to change menus. McDonald’s has also dabbled with dynamic pricing and new order-suggestion capabilities at some of its upgraded drive-thrus and on its app.
Persons: Wendy’s, Kirk Tanner, ” Tanner, Jonathan Maze, , Organizations: New, New York CNN, Ticketmaster, Uber, CNN Locations: New York, upselling
Caitlin Clark is breaking more records
  + stars: | 2024-02-27 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN —It wouldn’t be a Caitlin Clark game without a record being broken. The average purchase price for her game, as of Tuesday morning, is 1,100% more expensive ($557) than the average price of a WNBA game ($49). Clark hasn’t said if she will forgo the 2024 WNBA draft — where she is projected to be selected first overall — or remain in college for a fifth season. That meant college athletes like Clark could start making money off their likeness. Clark has also signed deals with Gatorade, Nike and State Farm, among others.
Persons: Caitlin Clark, Clark, TickPick, ” TickPick, Brett Goldberg, , Clark hasn’t, Shedeur Sanders, Deion Sanders, , CNN’s Clare Duffy, Allison Morrow Organizations: New, New York CNN, NCAA, University of Iowa, Ohio State, University of Michigan, Carver, FOX, WNBA, CNN, Iowa, Big, Clark, University of Colorado Buffaloes, NFL Hall of, Gatorade, Nike, State Farm Locations: New York, Iowa, Ohio, Minneapolis
Bloomin’ Brands revealed in an earnings call Friday that it closed 41 “underperforming locations” across the brands it owns, including Carrabba’s Italian Grill, Bonefish Grill and Fleming’s. The company didn’t release a list of closed restaurants. Local reports show that Outback locations in Pennsylvania, Iowa and every Outback restaurant in Hawaii recently shuttered. Bonefish Grill locations in New Jersey and Virginia also closed, plus at least three Carrabba’s locations in New York closed. Of the 41 closures across the brands, 33 restaurants were closed Friday, a Bloomin’ spokesperson told Nation’s Restaurants News.
Persons: Bloomin ’, Bloomin, David Deno, Carrabba’s Organizations: New, New York CNN, Brands, Restaurants, CNN, Employees Locations: New York, Pennsylvania , Iowa, Hawaii, New Jersey, Virginia
A centerpiece of that plan is “MLS Season Pass,” a sleekly designed streaming package that ditches the fragmentation other sports suffer from and lets fans stream globally every game — without blackouts — in the Apple TV app. The package costs $14.99 per month or $99 for the season and slightly less ($12.99 per month or $79 for the year) for existing Apple TV+ subscribers. “Once people tuned into the product, they were watching longer than our linear versions in past years,” Camilo Durana, executive vice president of MLS’ Apple partnership, properties and events, told CNN. On Wednesday, Apple released a new Sports app that shows live MLS scores and pushes people to watch them on “MLS Season Pass” on the Apple TV app. That matches a third-party report from analytics firm Antenna showing that “MLS Season Pass” was getting 6,000 new signups a day before Messi arrived but soared to 110,000 signups a day after he signed.
Persons: ” Sacha Kljestan, ” Kljestan, Kevin Egan, Andrew Wiebe, Kaylyn Kyle, Bradley Wright, Phillips, , ” Camilo Durana, Maddie Meyer, Apple, Lionel Messi, Dre, Durana, Messi, It’s, Santosh Rao, ” Rao Organizations: New, New York CNN — Football, Major League Soccer, Apple, MLS, CNN, NFL, NBC, CBS, FOX, US, TSN, Columbus Crew, Inter Miami, Apple Music, Sports Business, Mobile, Manhattan Venture Partners, doesn’t Locations: New York, Spanish, Canada, Apple’s
Caitlin Clark just broke another record
  + stars: | 2024-02-21 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN —Caitlin Clark, the University of Iowa athlete who last week became the all-time leading scorer in NCAA women’s basketball, is breaking more records. That meant athletes, like Clark, could start making money off their likeness. Fanatics told CNN that that it sold more Clark-branded merchandise “than any other individual men’s or women’s NIL-era college athlete across all sports has sold since 2022,” in less than 24 hours after she broke the record last Friday night. And the growing profiles of top athletes like Clark are helping to bring more attention — and more revenue — to women’s college sports programs and professional leagues. He added that Clark herself has a following of “Clarkies.”CNN’s Clare Duffy and Allison Morrow contributed to this report.
Persons: Caitlin Clark, Clark, Shedeur Sanders, Deion Sanders, , can’t, Clark’s, , Patrick Rishe, St . Louis, , ” CNN’s Clare Duffy, Allison Morrow Organizations: New, New York CNN, University of Iowa, NCAA, CNN, Clark, University of Colorado Buffaloes, NFL Hall of, Nike, Topps, Gatorade, State Farm, WNBA, Brands, , Washington University Locations: New York, Iowa, St .
New York CNN —Dunkin’ is adding an energy drink to its menu to capture some of the buzz generated by heavily caffeinated beverages, which are surging in popularity. But the menu addition comes with a risk: Panera Bread is facing multiple lawsuits over its its own energy drink. The Dunkin’ energy drink has less caffeine for a similarly sized cup with 192 mg for both flavors, according to its website. Despite the controversy, energy drinks are big sellers for chains. At Dutch Bros, a fast-growing chain, its lineup of energy drinks accounts for a quarter of its sales.
Persons: New York CNN — Dunkin, Dunkin, ” Dunkin ’, Panera, , CNN’s Eva Rothenberg Organizations: New, New York CNN, US Food and Drug Administration, CNN, Dutch Bros Locations: New York
American Airlines is raising checked-luggage prices
  + stars: | 2024-02-20 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —Checking a bag on American Airlines will now cost you more than at every other major US airline. That’s as much as a 33% increase from what it previously cost on American Airlines: $30 for both methods. Flights within and between the United States, Puerto Rico and US Virgin Islands are all affected by the price increase. American has also hiked the price of a second checked bag to $45 (up from $40.) The price increase comes at a time when airlines are battling rising fuel and labor costs.
Persons: didn’t Organizations: New, New York CNN, American Airlines, Flyers, Delta Air Lines, United Airlines, of Transportation Statistics Locations: New York, That’s, United States, Puerto Rico, Canada, Caribbean, Mexico, Central America
New York CNN —Lionel Messi’s debut in his first full Major League Soccer season might not cost fans the extraordinary prices seen last year for his first-ever game with Inter Miami, but they do show that “Messi Mania” hasn’t diminished despite his rocky preseason. That’s 1,257% more expensive than the cheapest, or “get in” price of last season’s home opener when it cost $7 for a seat. Prices on the secondary market are elevated for the rest of Inter Miami’s season with tickets about 70% more expensive than last year. In particular, Inter Miami sales are 150-times higher compared to the start of last season and is the most in-demand MLS team, with the Los Angeles Galaxy in second and the New England Revolution in third. “The surge in sales for Inter Miami, and the league as a whole, are a testament to his legacy as a soccer star,” said StubHub spokesperson Adam Budell told CNN.
Persons: Lionel Messi’s, “ Messi, , Messi, TickPick, , ‘ Messi, , ” Brett Goldberg, Adam Budell, Messi’s, Billy Lalor Organizations: New, New York CNN, Major League Soccer, Inter Miami, MLS, Miami, Real Salt Lake, Inter Miami’s, Montreal, Inter, CNN, MLB, NHL, Los Angeles Galaxy, , North Locations: New York, Real Salt, Argentina
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