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☆ I'm a recruiter at Meta. These are the top perks that win tech workers over — and the one they don't seem to care about.
▼ + stars: | 2023-11-09 | by ( Ananya Vahal | ) www.businessinsider.com time to read: +8 min

This as-told-to essay is based on a conversation with Glaze Martillano, a tech recruiter at Meta who lives in Toronto, about the benefits Meta employees are offered. VacationsWhen joining a big tech company, most candidates have high expectations when it comes to healthcare, competitive equity packages, vacations, and bonuses. Most importantly, they get to work on different projects with Meta employees based on their personal interests and skills. Companies talk about the importance of mental-health care, but there's still a stigma attached to getting help, so employees often don't take advantage of it. Forty percent of employers say they believe workers leave their jobs to work at companies that offer better benefits and perks.

Persons: Glaze, Martillano, —, It's, Meta, I've, we've, We've, it's, they'd, there's Organizations: Meta, Talent, Service, Facebook, Tech Locations: Toronto, Canada, United States, Menlo Park , California

☆ Under Armour raises margin forecast as costs ease
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

The ticker symbol and company logo for Under Armour, Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 22, 2019. REUTERS/Brendan McDermid/ File Photo Acquire Licensing RightsNov 8 (Reuters) - Under Armour (UAA.N) on Wednesday raised its annual gross margin forecast as the company benefits from easing freight and raw material costs and keeps a tight lid on expenses. Shares of the company, which cut its annual revenue forecast, were up 2.3% in premarket trade. Under Armour sees annual gross margin to be up 100 to 125 basis points versus the previous expectation of up 25 to 75 basis points. Reporting by Aatrayee Chatterjee and Ananya Mariam Rajesh in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Armour, Aatrayee Chatterjee, Ananya Mariam Rajesh, Sriraj Organizations: Armour, Inc, New York Stock Exchange, REUTERS, Thomson Locations: New York, U.S, Bengaluru

☆ Corporate America weighs business impact of new weight-loss drugs
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +4 min

Walmart (WMT.N) expects revenues from its health and wellness products to increase in the second half of the year, mainly due to the popularity of weight-loss drugs. PepsiCo (PEP.O) Chief Financial Officer Hugh Johnston has said the company is "not seeing any impact" yet from the popularity of weight-loss drugs. Coca-Cola (KO.N) CEO James Quincey said the company was monitoring what impact, if any weight-loss drugs will have. Abbott CEO Robert Ford has said diabetes patients could end up using glucose monitors with the weight-loss drugs in the long term. DRUG DISTRIBUTORSCencora (COR.N), formerly called AmerisourceBergen, Cardinal Health (CAH.N) and McKesson (MCK.N) have flagged potential boost to revenues this year owing to the growing demand for weight-loss drugs.

Persons: Victoria Klesty, Eli Lilly's, Eli Lilly's Zepbound, Hugh Johnston, James Quincey, Michele Buck, Dr Pepper, Robert Gamgort, Johnson, Joseph Wolk, Robert Ford, Michael Farrell, Bhanvi Satija, Ananya Mariam Rajesh, Mrigank Dhaniwala, Arun Koyyur Organizations: REUTERS, U.S . Food, Drug Administration, Walmart, PepsiCo, J, Abbott Laboratories, Insulet Corp, Boston Scientific, Cardinal Health, Thomson Locations: Oslo, Norway, Victoria, U.S, GLP, Bengaluru

Covergirl makeup, owned by Coty Inc, is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 7 (Reuters) - Coty (COTY.N) on Tuesday raised its annual core sales forecast on the back of higher pricing and strong demand from customers who snapped up the CoverGirl parent's new makeup and fragrance launches. Coty's efforts to launch key products such as Burberry Goddess in its high-end "prestige" category and CoverGirl's Yummy Gloss in the consumer beauty category drove a double-digit increase in these segments. The company now expects fiscal 2024 core like-for-like sales growth between 9% and 11%, compared with its previous outlook of an 8% to 10% rise. On an adjusted basis, Coty earned 12 cents per share, compared with analysts' estimates of 17 cents.

Persons: Andrew Kelly, Laurent Mercier, Z, Coty's, Thomas Hayes, Coty, Ananya Mariam Rajesh, Shounak Dasgupta Organizations: Coty Inc, REUTERS, Coty, Burberry, Reuters, Thomson Locations: Manhattan , New York City, U.S, United States, Europe, Swiss, Bengaluru

☆ Estee Lauder, Canada Goose slash annual targets as China recovery falters
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

An Estee Lauder cosmetics counter is seen in Los Angeles, California, U.S., August 19, 2019. The company also estimated annual sales to decrease 2% to an increase of 1%, compared with the previous forecast of an increase between 5% and 7%. Canada Goose expects full-year revenue to be between C$1.20 billion ($864.49 million) and C$1.40 billion, compared with its previous forecast of C$1.40 billion to C$1.50 billion. Canada Goose also saw revenues in the United States region decline nearly 11% as demand for high-end goods by affluent shoppers sag. Shares of Estee fell about 13% in premarket trading while U.S.-listed shares of Canada Goose were down 11%.

Persons: Lauder, Lucy Nicholson, Estee Lauder, Estee, Goose, Tom Ford's, Ananya Mariam Rajesh, Aatrayee Chatterjee, Shounak Dasgupta, Maju Samuel, Sriraj Organizations: REUTERS, Canada Goose Holdings, L'Oreal, Canada, U.S, Thomson Locations: Los Angeles , California, U.S, China, Canada, Asia, Korea, Hainan, Estee, United States, Bengaluru

Roughly half of the S&P 500 (.SPX) companies have reported results thus far, with more than 77% exceeding results. But of that group, consumer discretionary companies have been the biggest surprise, on average exceeding earnings-per-share estimates by 19%, according to LSEG I/B/E/S data. A 4.9% rise in U.S. gross domestic product in the third quarter further highlights the health of the consumer. Including Monday's gains, the S&P 500 consumer discretionary index (.SPLRCD) is up nearly 19% this year, far outperforming the broader S&P 500, which is up nearly 8%. Reuters GraphicsAmong the other consumer discretionary names that have surpassed expectations are Amazon (AMZN.O), Hilton Worldwide Holdings (HLT.N) and Royal Caribbean (RCL.N).

Persons: LSEG, Jason Benowitz, Roosevelt, McDonald's, Brian Mulberry, Gerald Pascarelli, Aishwarya Venugopal, Ananya Mariam Rajesh, Anil D'Silva Organizations: Reuters Graphics, Hilton Worldwide Holdings, Royal, Zacks Investment Management, Thomson Locations: U.S, Royal Caribbean, Bengaluru

☆ Hershey tops quarterly estimates boosted by higher candy prices
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] Hershey's chocolates are pictured for sale on a store shelf in the Manhattan borough of New York City, New York, U.S. July 19, 2017. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsOct 26 (Reuters) - Hershey (HSY.N) beat Wall Street expectations for quarterly sales and profit on Thursday, riding on benefits from higher prices of its chocolates and candies at a time when demand has slowed. Overall organic prices rose by 9.8% in the third quarter, while organic volumes increased by only 0.9%. Hershey's net sales rose to $3.03 billion in the quarter ended Oct. 1 from $2.73 billion a year earlier. The company also reaffirmed its annual profit forecast of $9.46 to $9.54 per share and sales expectations for an 8% rise.

Persons: Carlo Allegri, Hershey, Michele Buck, Ananya Mariam Rajesh, Milla Nissi Organizations: REUTERS, Hershey, Thomson Locations: Manhattan, New York City , New York, U.S, Russia, Ukraine, Bengaluru

☆ Keurig Dr Pepper Tops Estimates on Price Hikes but Coffee Business a Drag
▼ + stars: | 2023-10-26 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Keurig Dr Pepper beat Wall Street estimates for third-quarter sales on Thursday, as higher prices and steady demand for its sodas and drinks helped limit the hit from a slowing coffee business. Keurig Dr Pepper has also largely withstood a trade-down to private label and has not witnessed a decline in demand from the price hikes. Net sales for the third quarter increased 5.1% to $3.81 billion, beating estimates of $3.77 billion, according to LSEG data. However, the U.S. coffee segment remained under pressure, with net sales falling 3.2% to $1.01 billion. Keurig Dr Pepper, however, reaffirmed its fiscal 2023 adjusted earnings per share to rise 6% to 7% and net sales to grow 5% to 6%.

Persons: Dr Pepper, Annett Mary Manoj, Ananya Mariam Rajesh, Sriraj Kalluvila Organizations: Reuters, Wall, Schweppes, Cola, PepsiCo Locations: Ukraine, U.S, Bengaluru

☆ Coca-Cola lifts forecasts on higher prices, steady demand
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

A Coca-Cola logo is pictured during an event in Paris, France, March 21, 2019. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 24 (Reuters) - Coca-Cola Co (KO.N) on Tuesday raised its annual sales and profit forecasts for a second time this year, riding on resilient demand from consumers for its sodas, juices and energy drinks as well as higher prices. The company's shares rose more than 2% in premarket trading after it also topped expectations for third-quarter results. Coca-Cola's average selling prices rose 9% in the third quarter, the company said, while overall unit case volumes increased 2%. Third-quarter net revenue rose nearly 8% to $11.91 billion, topping analysts' estimates of $11.44 billion, according to LSEG data.

Persons: Benoit Tessier, Sarah Henry, Ananya Mariam Rajesh, Sriraj Organizations: REUTERS, Cola, PepsiCo, Logan Capital Management, Procter & Gamble, Thomson Locations: Paris, France, Bengaluru

☆ I went from making $9.50 an hour to almost $100K a year at UPS without having a college degree. I'm grateful that my 21 years at the company have paid off.
▼ + stars: | 2023-10-11 | by ( Ananya Vahal | ) www.businessinsider.com time to read: +9 min

A UPS worker says he started out making $9.50 an hour and now earns $100,000 at the company. The delivery driver says new drivers may be disappointed since it takes years to earn the top wage. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with a 39-year-old UPS delivery driver from Arizona. I started as a warehouse worker in 2002 at 18 years old making $9.50 an hour and eventually got promoted to a delivery driver making about $100,000 a year — the maximum $44 an hour wage. When people apply to become a UPS delivery driver, they may be disappointed because it takes years of hard work to make anywhere close to that amount.

Persons: —, I've, I'd, we're Organizations: UPS, he's, Service, Disney Locations: Arizona, U.S

REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsOct 10 (Reuters) - PepsiCo Inc (PEP.O) said on Tuesday it planned "modest" price hikes next year as demand held up despite multiple increases that prompted the snacks and beverages giant to raise its 2023 profit forecast for a third straight time. Shares of the company, which owns brands including Mirinda, and Gatorade, rose nearly 2% in early trading after third-quarter profit beat estimates. Average prices jumped 11% in the quarter ended Sept. 9, while organic volume slipped 2.5%. Adjusted profit of $2.25 per share topped expectations of $2.15, according to LSEG data. PepsiCo forecast fiscal 2023 core earnings per share of $7.54, up from $7.47 earlier, while maintaining its annual organic revenue growth forecast at 10%.

Persons: Mario Anzuoni, Hugh Johnston, Brian Mulberry, Zacks, Johnston, Ananya Mariam Rajesh, Sriraj Organizations: Pepsi, REUTERS, PepsiCo Inc, Gatorade, PepsiCo, Reuters, Zacks Investment Management, Thomson Locations: Pasadena , California, U.S, France, Bengaluru

☆ What are global firms with presence in Israel doing after Hamas attack
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +4 min

Following are the steps taken by the companies ranging from airlines to banks:TRAVELSeveral Asian, European and U.S. airlines have suspended direct flights to Tel Aviv. Delta Air Lines (DAL.N):The airline said it continues to monitor events in the region and has made the decision to cancel Delta-operated Tel Aviv flights through Oct. 31. Goldman Sachs (GS.N):The bank's employees at its office in Tel Aviv have been asked to work from home, a spokesperson said. TECHNvidia (NVDA.O):The world's largest maker of chips used for artificial intelligence and computer graphics said it had canceled an AI summit scheduled for Tel Aviv next week. CONSUMER AND RETAILH&M (HMb.ST):The clothing company said its local franchise partner has temporarily closed all stores in Israel.

Persons: Amir Cohen, El, Goldman Sachs, Morgan Stanley, Gautam Adani's, Jensen Huang, PHARMA Eli Lilly, Lilly, Priyamvada C, Mehr Bedi, Ananya Mariam Rajesh, Khushi, Jaiveer Singh, Samrhitha, Helen Reid, Sriraj Kalluvila, Shounak Dasgupta, Shinjini Organizations: Gaza, REUTERS, Palestinian, Hamas, Tel Aviv . Delta Air Lines, Royal, Chevron, JPMorgan Chase, Reuters, Bank of America, Bloomberg News, FedEx, TECH Nvidia, Tel, Inditex SA, PHARMA, Thomson Locations: Sderot, Israel, U.S, Tel Aviv, Royal Caribbean, Haifa Port, Zara, Bengaluru, London

☆ What are global firms with presence in Israel doing after Hamas attacks
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

A rocket launched from the Gaza Strip strikes an area near Sderot, southern Israel October 9, 2023. REUTERS/Amir Cohen Acquire Licensing RightsOct 9 (Reuters) - Global companies with a presence in Israel have temporarily shut some operations and asked employees to work from home following attacks by the Palestinian Islamist group Hamas over the weekend. BANKSJPMorgan Chase (JPM.N):The Wall Street bank has asked more than 200 employees in Israel to work from home, a source familiar with the matter told Reuters. Goldman Sachs (GS.N):The bank's employees at its office in Tel Aviv have been asked to work from home, a spokesperson said. CONSUMER AND RETAILH&M:The clothing company said its local franchise partner has temporarily closed all stores in Israel.

Persons: Amir Cohen, El, Goldman Sachs, Morgan Stanley, Gautam Adani's, Jensen Huang, Priyamvada C, Mehr Bedi, Ananya Mariam Rajesh, Helen Reid, Sriraj Kalluvila, Shounak Organizations: Gaza, REUTERS, Hamas, Royal, Chevron, JPMorgan Chase, Reuters, Bloomberg News, TECH Nvidia, Tel, Thomson Locations: Sderot, Israel, Palestinian, Tel Aviv, Royal Caribbean, U.S, Haifa Port, Bengaluru, London

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. Birkenstock is the latest high-profile listing to put investor focus on the initial public offering (IPO) market, which is gradually reopening after two relatively quiet years and a burst of activity in September. Due to recent price hikes, worldwide footwear sales are expected to rise just 2.9% over 2022, according to market research firm Euromonitor International. AllBirds (BIRD.O), Dr Martens (DOCS.L), and On Running (ONON.N) have all seen their market value fall since their IPOs in 2021. "When you look at the trend of other shoe companies that have IPO-ed, it doesn't give a great outlook for Birkenstock," Valechha said.

Persons: Fabrizio Bensch, Birkenstock, Kellogg, Mamta, Cheviot, Valechha, Johann Adam Birkenstock, Barbie, Margot Robbie, Jessica Ramirez, Jane Hali, Siobhan Gehin, Roland Berger, Thomas Hayes, sneaker, Dr Martens, Allbirds, Alexandre Arnault, LVMH, Bernard Arnault, Matt Oguz, Iris, L, Ananya Mariam Rajesh, Helen Reid, Emma, Victoria Farr, Echo Wang, Abigail Summerville, Deepa Babington Organizations: REUTERS, LVMH, New York Stock Exchange, Euromonitor, Associates, Dick's Sporting, Reuters, Partners, Norges Bank Investment Management, Thomson Locations: Berlin, Germany, New York, London, Neustadt, United States, U.S, Cannes, Silicon Valley

In the past year, clothing retailers have sought to clear excess stock that had piled up due to a shift in consumer demand to essentials from discretionary items like clothing. But with fourth-quarter temperatures expected to start off warm, according to weather tracking firm Weather Trends International, stores carrying winter styles and gear could find themselves loaded with inventory at the end of the season. European company Pepco Group (PCOP.WA) also noted that the landing of its autumn and winter clothing inventory had coincided with persistent record-warm weather in its core Central and Eastern European markets. In the United States, temperatures could rise by 2 to 12 degrees Fahrenheit on average in the October-December period compared with last year, according to Weather Trends International. Abercrombie & Fitch (ANF.N) also said there was strong demand for "seasonless products" in the second quarter, particularly in the men's category, as customers picked out year-round clothing items and styles.

Persons: Helena Helmersson, Andy Bond, Bill Kirk, Clodagh, David Swartz, Robert Woods, Kristen D'Arcy, Abercrombie, Simon Wolfson, Ananya Mariam Rajesh, James Davey, Helen Reid, Matthew Lewis Organizations: Reuters, Pepco, Amazon.com, REUTERS, Walmart, Dick's Sporting, Costco Wholesale, Morningstar Research, Vision Brands, Fitch, Thomson Locations: United States, Europe, Cos, Eastern, Grafton, Dublin, Ireland, outerwear, Bengaluru, London

☆ US retailers' financial losses jump as retail crime escalates - NRF
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

In 2022, inventory "shrink" as a percentage of total retail sales accounted for $112.1 billion in losses, up from $93.9 billion in 2021, according to the NRF report on Tuesday. Retailers are either being forced to close a specific store location, reduce operating hours or alter in-store product selection to deal with the spike in retail crime, the report added. Dollar Tree (DLTR.O) has said it plans to remove goods like men's underwear, an item most prone to retail theft, from its stores. Retailers are ramping up prevention methods with 34% of respondents increasing internal payroll to support risks related to retail crime and 46% increasing the use of third-party security personnel among other methods, according to NRF. The NRF survey was conducted online among senior loss prevention and security executives in the retail industry with insights from 177 retail brands.

Persons: Brendan McDermid, David Johnston, John Rainey, Ananya Mariam Rajesh, Savyata Mishra, Siddharth Cavale, Shounak Dasgupta Organizations: Black, REUTERS, National Retail Federation, U.S, Kroger, Asset Protection, Retail, Retailers, Walmart, Telsey, Thomson Locations: Brooklyn , New York, U.S, New York, San Francisco , Los Angeles, Houston, Britain, Bengaluru

☆ McDonald's to raise royalty fees for new US restaurant operators
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The logo for McDonald's restaurant is seen as McDonald's Corp. reports fourth quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. REUTERS/Joshua Roberts Acquire Licensing RightsSept 22 (Reuters) - McDonald's (MCD.N) is raising royalty fees for new U.S. franchise operators for the first time in nearly three decades, according to an internal letter viewed by Reuters. The burger giant is raising the fees that franchise owners pay for the brand to 5% from 4%, starting Jan. 1, for any new restaurants they open. It will also change the term for payments in the U.S. from "service fees" to "royalty fees", used by all other McDonald's markets around the world. Royalty is a fee paid by restaurant operators to the owner and the rate is set based on the revenue generated by the licensed property.

Persons: Joshua Roberts, Savyata Mishra, Ananya Mariam Rajesh, Shilpi Majumdar Organizations: McDonald's Corp, REUTERS, U.S ., Reuters, Thomson Locations: Arlington , Virginia, U.S, United States, Bengaluru

☆ McDonald's to raise royalty fees for new franchise restaurants in US, Canada
▼ + stars: | 2023-09-22 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

The logo for McDonald's restaurant is seen as McDonald's Corp. reports fourth quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. REUTERS/Joshua Roberts Acquire Licensing RightsSept 22 (Reuters) - McDonald's (MCD.N) is raising royalty fees for new franchise restaurants in the U.S. and Canada for the first time in nearly three decades, according to a letter viewed by Reuters on Friday, bringing them on par with what it charges in other markets. Northcoast Research analyst Jim Sanderson, however, said the impact of the rate increase on McDonald's revenue would be "very limited", since there are very few new stores opening in the United States. The company will also change the term for payments from "service fees" to "royalty fees", used by all other McDonald's markets around the world. Royalty is a fee paid by restaurant operators to the owner and the rate is set based on the revenue generated by the licensed property.

Persons: Joshua Roberts, Jim Sanderson, Savyata Mishra, Ananya Mariam Rajesh, Granth, Shilpi Majumdar Organizations: McDonald's Corp, REUTERS, Reuters, Northcoast, Thomson Locations: Arlington , Virginia, U.S, Canada, United States, Bengaluru

☆ Reactions: Media mogul Rupert Murdoch steps down as chairman of Fox, News Corp
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +5 min

Sept 21 (Reuters) - Media mogul Rupert Murdoch, 92, has stepped down as the chairman of Fox Corp (FOXA.O) and News Corp (NWSA.O), ending a more than seven-decade career in which he created an empire spanning from Australia to the United States. His son, Lachlan Murdoch, will become the chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition cements Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. His son Lachlan Murdoch is seasoned and capable of running the business, but of course there's no replacement for someone like the chairman, Rupert Murdoch, who founded the company and built it over decades." "The media world is unrecognisable from the one he stepped into seventy years ago and the decision to scrap plans to reunite his empire must have smarted."

Persons: Rupert Murdoch, Lachlan Murdoch, Murdoch, BRIAN WIESER, Lachlan, MICHAEL ASHLEY SCHULMAN, Smartmatic, Rupert Murdoch's, JASON BENOWITZ, I'm, DANNI HEWSON, AJ BELL, he's, Mary Berry, he'll, RILEY, THOMAS HAYES, Wise, MATTHEW TUTTLE, ED MOYA, Aditya Soni, Samrhitha, Mayur, Ananya Mariam Rajesh, Arun Koyyur Organizations: Media, Fox Corp, News Corp, Fox, MADISON, WALL'S, Dominion, HOGAN, TUTTLE, MSNBC, Thomson Locations: Australia, United States, Bengaluru

☆ Coty boosts core sales forecast as price hikes, strong beauty demand help
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

Covergirl makeup, owned by Coty Inc., is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 20 (Reuters) - Coty (COTY.N) on Wednesday raised its annual core sales forecast on the back of higher pricing and strong demand as customers splurge on its high-end and affordable cosmetics and fragrances. The company said since it reported earnings in August it has seen a strong momentum in beauty demand, particularly in prestige fragrances - its high-end segment that houses cosmetics and fragrances from the Hugo Boss, Gucci and Burberry brands. Coty now expects fiscal 2024 core like-for-like (LFL) sales growth between 8% and 10%, up from its earlier outlook of LFL growth being at the top end of its target range of 6% to 8%. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Hugo Boss, Gucci, Ananya Mariam Rajesh, Shailesh Organizations: Coty Inc, REUTERS, Coty, Burberry, Wall, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ Target to hire 100,000 workers, start holiday promotions in October
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

Shoppers wait in line at Target on the Thanksgiving Day holiday in Burbank, California, November 22, 2012. REUTERS/Jonathan Alcorn/File Photo Acquire Licensing RightsSept 19 (Reuters) - Target (TGT.N) said on Tuesday it would hire nearly 100,000 employees for the holiday season, a number that has been consistent over the last two years, and offer discounts as early as October to attract inflation-weary shoppers. In 2022, Amazon.com (AMZN.O) had announced plans to hire 150,000 employees across its operations for the holiday season, while retail bellwether Walmart (WMT.N) had said it would add 40,000 workers in seasonal and full-time roles. Macy's said on Monday it would hire more than 38,000 full and part-time seasonal workers, fewer than the 41,000 workers it had announced to hire in 2022. In a bid to draw shoppers, Target said it would start offering items under $25 across categories including apparel, home goods, and essentials and was hosting a "Deal of the Day" program starting October.

Persons: Jonathan Alcorn, Macy's, Steve Sadove, Ananya Mariam Rajesh, Deborah Sophia, Rashmi Aich, Anil D'Silva Organizations: REUTERS, Mastercard, Challenger, Walmart, Thomson Locations: Target, Burbank , California, U.S, Bengaluru

Shoppers wait in line at Target on the Thanksgiving Day holiday in Burbank, California, November 22, 2012. REUTERS/Jonathan Alcorn/File Photo Acquire Licensing RightsSept 19 (Reuters) - Target (TGT.N) said on Tuesday it would hire nearly 100,000 employees for the holiday season, like in the past two years, and start offering discounts for the festive period as early as October. However, Amazon.com (AMZN.O) on Tuesday announced plans to hire 250,000 workers for the holiday season, higher than the 150,000 it planned to bring in last year. Macy's said on Monday it would hire more than 38,000 full and part-time seasonal workers, fewer than the 41,000 workers it had announced to hire in 2022. Major retailers, including Target, have warned of a hit to profit resulting from inventory theft.

Persons: Jonathan Alcorn, Macy's, Jessica Ramirez, Jane Hali, Sarah Henry, Henry, Ananya Mariam Rajesh, Deborah Sophia, Arun Koyyur, Anil D'Silva Organizations: REUTERS, Mastercard, Challenger, Tuesday, Retail bellwether Walmart, Associates, Target, Logan Capital Management, Thomson Locations: Target, Burbank , California, United States, Bengaluru

[1/2] Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. Smucker (SJM.N) said on Monday it will buy Twinkies-maker Hostess Brands (TWNK.O) in a $5.6 billion deal, as major U.S. packaged food companies look to expand their brand portfolios with pandemic-era fortunes dwindling. J. M. Smucker will pay Hostess shareholders $34.25 per share in a cash and stock deal, representing a premium of 54% since the day before the report surfaced. Hostess Brands became an acquisition target after it managed to boost its revenue through price hikes that fueled investor concerns over its prospects with its volume growth consistently declining. Smucker and Hostess deal follows a spree of other deals including that of Campbell Soup's (CPB.N) $2.7 billion deal for Rao's sauce maker Sovos Brands (SOVO.O) and Unilever (ULVR.L) buying premium frozen yogurt brand Yasso in North America.

Persons: Brendan McDermid, Smucker, Campbell Soup's, Hostess, Ding Dongs, Dimpal Gulwani, Ananya Mariam Rajesh, Anirban Sen, Savio D'Souza, Shinjini Organizations: REUTERS, Hostess Brands, Reuters, Hostess, Mills Inc, Mondelez, PepsiCo Inc, Hershey Co, Sovos, Unilever, Hos, Thomson Locations: Manhattan, New York City, U.S, North America, Lenexa , Kansas, Ho, Bengaluru, New York

[1/2] Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. Smucker (SJM.N) on Monday agreed to buy Twinkies maker Hostess Brands (TWNK.O) for $5.6 billion including debt in a deal that unites two major American snack makers. The deal was worth about $4.6 billion excluding debt, with Jif peanut butter maker Smucker paying Hostess shareholders $34.25 per share. Campbell Soup's (CPB.N) recent acquisition of Rao's sauce maker Sovos Brands (SOVO.O) represented an adjusted EBITDA multiple of 14.6 times, including run rate savings, and 19.8 times excluding those. Based in Lenexa, Kansas, Hostess was founded in 1930 and is behind several iconic household brands, including Ho-Hos, Ding Dongs, Zingers, and Voortman cookies and wafers.

Persons: Brendan McDermid, Smucker, Campbell Soup's, Smucker's, Campbell, Hostess, Ding Dongs, Dean Metropoulos, Alec Gores, Ananya Mariam Rajesh, Anirban Sen, Abigail Summerville, Dimpal, Savio D'Souza, Shinjini Ganguli, Jason Neely Organizations: REUTERS, Hostess Brands, Reuters, Sovos, JPMorgan, Sovos Brands, Hos, Smucker, Apollo Global Management Inc, Hostess, Thomson Locations: Manhattan, New York City, U.S, North America, Lenexa , Kansas, Ho, Bengaluru, New York

☆ Walmart changes starting pay structure for entry-level store workers
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Kamil Krzaczynski Acquire Licensing RightsCompanies Walmart Inc FollowSept 7 (Reuters) - Walmart (WMT.N) is changing the hourly starting wage structure for entry-level store workers, as companies seek to reduce costs in a slowing job market. Deli, auto center and bakery workers will continue to receive higher starting wages as they are higher-skilled roles, she added. The Wall Street Journal, which was the first to report the wage structure changes that went into effect in mid-July, said the changes mean paying some new store workers less than it would have three months ago, citing documents seen by the Journal and store workers. Walmart pays its employees different starting wages based on where the store is based. The new wage structure will not change Walmart's minimum hourly wage of $14 or result in any pay cuts for existing employees, the spokesperson said.

Persons: Kamil Krzaczynski, Anne Hatfield, Hatfield, Walmart's, Ananya Mariam Rajesh, Siddharth Cavale, Maju Samuel, Frances Kerry Organizations: REUTERS, Walmart, Street, Journal, Midwest, Reuters, Thomson Locations: Chicago , Illinois, U.S, United States, Bengaluru, New York

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