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What’s open and closed on Thanksgiving Day 2023
  + stars: | 2023-11-22 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +3 min
New York CNN —Thanksgiving Day has looked different in recent years. Sights of people lining up at 5 pm Thanksgiving Day at large retailers to catch Black Friday deals are rare since the onset of the pandemic. Here’s what’s open and closed on Thanksgiving Day 2023. RetailTarget is closed on Thanksgiving Day. Brendan Smialowski/AFP/Getty ImagesPharmaciesMost Walgreens locations will be closed, marking the first time the pharmacy chain has closed stores on Thanksgiving day, it said.
Persons: Here’s, , Brian Cornell, We’ll, John Furner, Nordstrom, Brendan Smialowski, Tom Thumb, Kroger, Felix Mizioznikov, – CNN’s Jennifer Korn Organizations: New, New York CNN, Walmart, NBC, CVS, Getty, Walgreens, CVS Health, ., Aid, Foods, Albertsons, Safeway, Aldi, Costco, Nasdaq, New York Stock Exchange, UPS, FedEx Locations: New York, Washington ,, AFP, Brenham , TX, USA, Texas, Alamy
Banks closed 10.7% of their in-store branches in the year ended June 30, according to Federal Deposit Insurance Corp. data. PNC , Citizens Financial and U.S. Bank shut the most in-store locations during the 12-month period at chains including Safeway and Stop & Shop. Among retailers, Walmart houses the most bank branches with 1,179, according to an S&P Global report released this week. That year, banks closed nearly 18% of their in-store branches and 3.1% of other locations, S&P Global said. For instance, in 2019, banks shut 4.2% of in-store locations and 1.7% of other locations.
Persons: Nathan Stovall, Banks Organizations: Banks, Federal Deposit Insurance Corp, Silicon Valley Bank, PNC, Citizens Financial, U.S . Bank, Safeway, Shop, Walmart, P, P Global, P Global Market Intelligence Locations: Silicon
REUTERS/Cheney Orr/File Photo Acquire Licensing RightsOct 16 (Reuters) - Most Wall Street brokerages, including J.P.Morgan and Goldman Sachs, kicked off coverage on Instacart (CART.O) with a bullish view, betting on the grocery delivery app's growth amid a shift to online shopping. The stock — following a lukewarm debut in September — closed at $25.57 on Friday, below its $30 initial public offering (IPO) price. At least half of Instacart's 20 IPO underwriters have initiated coverage with their top ratings after the quiet period ended. Instacart's slow growth compared to rivals is a top concern, as a reduction in food stamp benefits and a shift back to in-store shopping could limit GTV growth, according to Piper Sandler analyst Alexander Potter. As of Friday, the six brokerages that were not involved in the IPO started coverage with an average rating of "hold", LSEG data showed.
Persons: Eric Cohn, Cheney Orr, Goldman Sachs, , Baird, Colin Sebastian, Scott Devitt, Justin Post, Piper Sandler, Alexander Potter, Savyata Mishra, Shilpi Majumdar Organizations: Safeway, REUTERS, J.P.Morgan, underwriters, Walmart, Wedbush, BofA Global Research, Thomson Locations: Tucson , Arizona, U.S, Instacart, Bengaluru
Starbucks is closing seven locations in San Francisco as the chain cuts back on a dense store network. Many retailers have closed stores in downtown San Francisco, citing low foot traffic and crime. AdvertisementAdvertisementStarbucks is closing seven stores in San Francisco as it renovates others and adds a pickup-only location. AdvertisementAdvertisementEven without the planned closures, Starbucks operates fewer stores in San Francisco than it did several years ago. Starbucks has "opened or re-opened" three locations in San Francisco over the last six months, the company spokesperson told Insider.
Persons: it's, , Geary, Van, Yves Saint, Laurent Organizations: Starbucks, Service, San Francisco Business Times, Safeway, Geary St, California St, Employees, Business Times, Times, Restaurant, Nordstrom Locations: San Francisco, California, Van Ness
The company, called Gatsby Chocolate, appeared on Friday's season premiere of ABC's "Shark Tank." The appeal for Gatsby Chocolate was evident — lots of people have a sweet tooth, and a candy bar with less calories but "no compromise on taste" sounds like a no-brainer. But for Lori Greiner and guest shark Candace Nelson, founder of Sprinkles Cupcakes, it just didn't fit. While Lori entertained that notion, for a 25% stake, Cuban balked: "My brand is too big to be the face of the brand," the billionaire said. "Specifically, we're actively looking into 'Gatsby Chocolate: The good for you bar,' after discussing with Mark and Lori, so be on the lookout!"
Persons: Mark Cuban, Doug, Ryan Bouton, Ryan, Gatsby, Lori Greiner, Candace Nelson, Sprinkles, Greiner, Nelson, Kevin O'Leary, O'Leary, Daymond John, Z, Lori, they'd, Cuban, Ryan couldn't, We're, Mark, we're Organizations: Walmart Safeway, Cuban, CNBC
Instacart shares fall further below IPO price
  + stars: | 2023-09-27 | by ( Noel Randewich | ) www.reuters.com   time to read: +2 min
Shares of Instacart, formally called Maplebear, last traded at $28.71 compared to the $30 price set in its IPO on Sept. 18. SoftBank-backed chip designer Arm Holdings fell 2.5% to $52.19, just above the $51 price in its IPO two weeks ago. After closing with a gain of 12% in its first session, Instacart has steadily lost ground. Arm's shares have also mostly declined after surging in their Wall Street debut, touching intra-day lows below $51 in three of the past five sessions. The marketing automation firm's stock remains above its $30 IPO price, but well below its intraday high of $37 in its first day of trading.
Persons: Eric Cohn, Cheney Orr, Instacart, Noel Randewich, Emelia Sithole Organizations: Safeway, REUTERS, Vanda Research, Arm Holdings, Thomson Locations: Tucson , Arizona, U.S, Klaviyo
Instacart stock subdued as debut enthusiasm loses steam
  + stars: | 2023-09-20 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Cheney Orr/File Photo Acquire Licensing RightsSept 20 (Reuters) - Grocery delivery app Instacart's stock (CART.O) fell nearly 5% in premarket trading on Wednesday, on course to join other new stock market entrants in failing to keep up with their strong gains on debut. Shares of San Francisco-based Instacart ended 12% higher in their Nasdaq debut on Tuesday, failing to hold onto an intraday gain of as much as 43%. The company's initial public offering on Monday had given it a valuation of nearly $9.9 billion. In August, it announced interest from PepsiCo (PEP.O), which has agreed to buy $175 million in preferred convertible stock. Reporting by Savyata Mishra and Niket Nishant in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Eric Cohn, Cheney Orr, Instacart, Alex Frederick, Frederick, Instacart's, Andrew Lipsman, Savyata Mishra, Niket, Devika Organizations: Safeway, REUTERS, Investors, San, Nasdaq, Walmart, Amazon, PitchBook, PepsiCo, Insider Intelligence, Thomson Locations: Tucson , Arizona, U.S, San Francisco, Bengaluru
The IPO gave Instacart a valuation of nearly $9.9 billion, a fraction of the $39 billion it was worth in 2021, the company's last funding round. Reuters GraphicsSeveral startups' valuations have shrunk since 2022 as inflation, geopolitical tensions and the Federal Reserve's rapid rate hikes soured the economic climate. But a lukewarm reception to Neumora Therapeutics' (NMRA.O) IPO last week hinted at limited investor enthusiasm for new listings. Arm soared on its first day of trading but has dropped every day since then. Goldman Sachs and J.P. Morgan are the lead underwriters for Instacart's IPO.
Persons: Eric Cohn, Cheney Orr, Hogan, Riley, Instacart, Apoorva Mehta, Fidji Simo, Goldman Sachs, J.P, Morgan, Niket, Noel Randewich, Devika Syamnath, Anil D'Silva, Nick Zieminski, Richard Chang Organizations: Safeway, REUTERS, Nasdaq, SoftBank's Arm, San, Maplebear Inc, Reuters, Federal, Investors, Neumora Therapeutics, Instacart's, Thomson Locations: Tucson , Arizona, U.S, San Francisco, Bengaluru, Oakland , California
Mehta was replaced as CEO of Instacart in July 2021 following a messy dispute with some of the company's largest investors. Instacart Founder Apoorva Mehta in his 2003 yearbook photo from Westdale Secondary School. The app started gaining momentum and Mehta put out ads on Craigslist for shoppers to do the grocery runs for him. Whole Foods reportedly broke the news to Mehta and a fellow Instacart executive on an early morning call. In a sworn affidavit, Mehta denies that he misappropriated any trade secrets and says he's since cut ties with Singh.
Persons: Apoorva Mehta, Mehta, Safeway Mehta, Hamilton Public Library Mehta, Bing Gordon, Kleiner Perkins, Gordon, he'd, Garry Tan, Tan, Garry, Andreessen Horowitz, catapulting Mehta, Forbes, Instacart, Mike Moritz, Fidji Simo, Simo, That's, Mehta's, he's, Tejasvi, Singh, Sam Bankman, NextMed, it's Organizations: Instacart, Safeway, Westdale Secondary, Hamilton Public Library, The University of Waterloo, Amazon, NPR, Electronic Arts, YC, TechCrunch, Sequoia Capital, Khosla Ventures, Forbes, Foods, Costco, Kroger, Facebook, Sunrise Locations: India, Libya, Hamilton , Ontario, Toronto, Seattle, San Francisco, wallowing, Sequoia, Mehta's, Marin County
Instacart also sells ad space on its site, including to Pepsi and Kellogg's, which want to promote products online. Instacart, valued at $9.3 billion, said its grocery orders remained flat for the first six months of 2023 at 132.9 million compared to the year-ago period, Securities and Exchange Commission filings showed. Gross transaction value rose 4% to $14.94 billion over the same period, while ad revenue grew 24% to $406 million from $327 million. Gross profit grew faster than gross transaction value for products sold on Instacart, including merchandise, taxes and fees. Some advertisers may not be as worried about Instacart's slowed order growth, said Nikhil Raj, retail media business lead at ad solutions firm Moloco.
Persons: Eric Cohn, Cheney Orr, Instacart, Fidji Simo, Andrew Lipsman, there's, Lipsman, Gross, Instacart's, Nikhil Raj, Raj, Arriana McLymore, Richard Chang Organizations: Safeway, REUTERS, Pepsi, Securities, Exchange, Insider Intelligence, SEC, Thomson Locations: Tucson , Arizona, U.S, San Francisco, New York
REUTERS/Cheney Orr Acquire Licensing RightsSept 10 (Reuters) - Grocery delivery service Instacart is targeting a valuation between $8.6 billion and $9.3 billion in its initial public offering, according to a person familiar with the matter. The valuation range will be disclosed in an updated IPO regulatory filing on Monday, the source said on SundayInstacart declined to comment. The Wall Street Journal was the first to report on Sunday on Instacart's IPO valuation target. Unlike an IPO, no shares are sold in advance in a direct listing and investors can sell their shares directly to the public. For the six months ended June 30, Instacart last month reported revenue of $1.48 billion, up 31% from the same period last year.
Persons: Eric Cohn, Cheney Orr, Instacart, Andreessen Horowitz, Rowe Price, Anirudh Saligrama, Manya Saini, Niket, Echo Wang, Cynthia Osterman, Leslie Adler Organizations: Safeway, REUTERS, Arm Holdings Ltd, Reuters, Sequoia Capital, Fidelity Management & Research, Thomson Locations: Tucson , Arizona, U.S, Bengaluru, Echo, New York
Instacart’s mixed bag has valuation opportunities
  + stars: | 2023-08-28 | by ( Anita Ramaswamy | ) www.reuters.com   time to read: +4 min
If it doesn’t push valuation too hard, a public listing could be seamless. Instacart booked net income in 2022, a rarity for a growth company hitting the public market. That brings Instacart’s enterprise value to roughly $17 billion, less than half of what it was worth in 2021 but still higher than the internal valuation it inked last year. Follow @AnitaRamaswamy on XCONTEXT NEWSGrocery-delivery business Instacart filed paperwork to go public on Aug. 25 under the formal name Maplebear. The company, which did not share its target price range in the filing, grew revenue by 39% in 2022 to $2.6 billion.
Persons: Eric Cohn, Cheney Orr, Fidji Simo, Instacart, Simo, Apoorva Mehta, Domino's, Lauren Silva Laughlin, Sharon Lam Organizations: Safeway, REUTERS, Reuters, Nasdaq, Kroger, Aldi, Costco Wholesale, Companies, Thomson Locations: Tucson , Arizona, U.S, Cava
REUTERS/Mike Blake (UNITED STATES - Tags: BUSINESS) Acquire Licensing RightsNEW YORK, Aug 25 (Reuters Breakingviews) - Tupperware Brands (TUP.N) is struggling to stop the rot. As much as technology has remade business strategies over the past 77 years, Facebook owner Meta Platforms (META.O) leans on a comparable one. Enter Brownie Wise, the saleswoman credited with pioneering the “Tupperware effect” of teaching women how to flog to their friends by hosting themed gatherings in their living rooms. Ironically enough, in the interim Tupperware also become the product of another modern network effect, a meme stock, or a highly speculative online investment. Tupperware has about a quarter of the active salesforce it did at the end of 2012, the same year Facebook bought Instagram.
Persons: Mike Blake, UNITED, , Earl Tupper, Tupperware, Brownie Wise, Tammy Hembrow, June Cleaver, influencers, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Safeway Inc, Reuters, Tupperware, Meta, Pew Research, Facebook, Brands, Thomson Locations: Encinitas , California, Vons, Australian, Tupperware’s
Amanda Jaffe, 69, went to her local pharmacy at the Safeway in Helena, Mont., to get the R.S.V. Upon hearing the price (over $300), Ms. Jaffe thought “that’s ridiculous” and left without getting it. Several common vaccines, including those for the flu and Covid-19, are included under Medicare Part B, which provides medical coverage. vaccines, as well as a few others, including the vaccine for shingles, are covered under Medicare Part D, which pays for prescription drugs. As a result, Medicare enrollees without a Part D plan — roughly 16 million people — may have to pay for the R.S.V.
Persons: Amanda Jaffe, , ” Ms, Jaffe, , Richard Hughes IV, Epstein Becker Green Organizations: Safeway, Medicare, Moderna, Centers, Medicaid Services, New York Times Locations: Helena, Mont
The executives also tried to dispel a rumor that Trader Joe's trains employees to flirt with customers. But Trader Joe's is avoiding the option, one of its top executives said in an episode of the company's podcast. Basalone and Palbaum also tried to debunk another rumor: That Trader Joe's employees are trained to flirt with customers. Instagram and TikTok are filled with posts about Trader Joe's flirty cashiers. It might not be flirting, but Trader Joe's cashiers are certainly famous for asking customers about their day, their favorite foods, and other small-talk topics.
Persons: Joe's, isn't, Jon Basalone, That's, Basalone, We're, couldn't, Bryan Palbaum, Palbaum, Dan Bane, they're, niceness Organizations: Service, Target, Safeway Locations: Wall, Silicon, Tennessee, California
"Walters told Mickelson, according to an excerpt of the book published by Golf Digest. Walters writes that he asked Mickelson if he remembered what happened to Pete Rose, who was banned from baseball for life for betting on the Cincinnati Reds while managing that team. " 'You're seen as a modern-day Arnold Palmer,' " Walters writes he told Mickelson. 'Walters, 77, said that Mickelson replied: "Alright, alright." Walters wrote that he hoped Mickelson did not place that bet somewhere else, as the American team lost in a stunning comeback by the European squad that became known as the "Miracle at Medinah."
Persons: Phil Mickelson, Phil Mickelson wagered, Billy Walters, Walters, Mickelson, Pete Rose, Arnold Palmer Organizations: Safeway, Silverado, U.S, Ryder, Country, Golf Digest, Cincinnati Reds, American Locations: Napa , Calif
[1/2] A customer leaves an Albertsons grocery store, as Kroger agrees to buy rival Albertsons in a deal to combine the two supermarket chains, in Riverside, California, U.S., October 14, 2022. It is unclear if the FTC will try to stop the transaction or when a decision would be reached. "Kroger and the FTC are focused on ensuring that any divested stores are positioned for success," the company said in a statement. Between them, Kroger and Albertsons operate nearly 5,000 stores with more than 800 in California. FTC staff spoke with the group in April.
Persons: Kroger, Biden, I'm, Rob Bonta, Chris Jones, We're, we're, Jones, Dan Waldvogle, Waldvogle, Sara John, Mayor Diego Plata, Diane Bartz, Chris Sanders, Anna Driver Organizations: Albertsons, REUTERS, Federal Trade Commission, Staff, FTC, Kroger, National Grocers Association, Walmart, Rocky Mountain Farmers Union, Center for Science, Safeway, Mayor, Thomson Locations: Riverside , California, U.S, Colorado, California, COVID, Colorado's Rocky, Gunnison, Plata
Regardless of that shift, experts say vaccine uptake may not look much different from that of the bivalent boosters. Pandemic fatigue, confusionFatigue over the pandemic and the general belief that Covid is "over" could potentially hinder the uptake of new shots this fall, experts said. Ipsos and Axios released a survey with similar findings in May, the same month the U.S. ended the national Covid public health emergency amid a downward trend in cases, hospitalizations and deaths. "That contrasts with what we've seen in the past where there are different vaccines, different timing, different age groups and something new to consider every few months." Advisors to the FDA have raised concerns about shifting to yearly Covid vaccines, noting that it's unclear if the virus is seasonal like the flu.
Persons: Antonio Perez, Axios, isn't, Dr, Kartik Cherabuddi, Brad Pollock, Pollock, they're, Ashley McGee, Justin Sullivan, CDC hasn't, Covid, KFF's Kates, Michael Nagle, Kates, we've Organizations: Chicago CVS, Tribune, Service, Getty Images Pfizer, Moderna, Pfizer, Gallup, University of Florida, CNBC, UC Davis Health's, Safeway, CDC, Food and Drug Administration, Health, Human Services Department, FDA, Xinhua News Agency, Getty Locations: Chicago, U.S, San Rafael , California, New York, United States
Alexis is a 26-year-old living in San Francisco earning $90,000 a year as an account supervisor. We asked Alexis, a 26-year-old San Francisco resident, about her biggest spending categories, biggest money mistakes, and financial goals. Childhood dreams brought me here to San Francisco. But I moved to San Francisco at the same time as that raise — and taxes are much higher here — so my post-promotion paychecks only increased by $50. I know I'm going to have to be more conscious about eating out to make room for those payments.
Persons: Alexis, Gen Zers, It's, I've, I'm Organizations: Service, Trader Joes, Safeway Locations: San Francisco, Wall, Silicon, Iowa, Phoenix, Francisco, Europe
Safeway has installed receipt-scanning gates at some supermarkets in the San Francisco Bay Area. The technology has already been rolled out at multiple UK retailers, and shoppers are skeptical. A Reddit post from this spring, meanwhile, showed the gates at another Safeway location in San Francisco. Security gates at self checkouts is more common in the UKAcross the Atlantic in the UK, a handful of retailers already use the receipt-scanning gates at self-checkout areas. Some people have compared the security gates to Costco's receipt-checking system.
Persons: that's, Primark, Betty Yu, Alex Bitter Organizations: Safeway, San Francisco Bay Area, Service, California Safeway, San Francisco Chronicle, University of California, Daily, Morrisons, Costco, Sun, Twitter, Walgreens, CBS, KPIX, Area Locations: San Francisco Bay, Wall, Silicon, Bay, Berkeley, San Francisco ., Edinburgh, San Francisco
$3 Million Homes in California
  + stars: | 2023-07-17 | by ( Angela Serratore | ) www.nytimes.com   time to read: +1 min
Wine bars, a bakery, a breakfast spot with a train theme, a Whole Foods Market and a Safeway grocery store are all nearby. Driving to Napa or San Francisco takes an hour or more. Size: 2,983 square feetPrice per square foot: $1,004Indoors: A walking path connects the top of the long driveway to one of several patios and the home’s entrance. The front door opens into a foyer with a barrel-vault ceiling and new wide-plank French oak floors. The oak floors continue into a living area with more high ceilings and a wood-burning fireplace flanked by built-in bookshelves.
Organizations: Foods, Safeway Locations: Sebastopol, Freestone, Occidental, Wine, Bodega Bay, Napa, San Francisco, bookshelves
A federal court ordered Elizabeth Holmes and Sunny Balwani to pay $452 million. Defendants hit with such orders to pay victims may see it come out of any eventual wages they earn. So how will Holmes and her former business partner Sunny Balwani navigate a $452 million restitution order? Former Theranos CEO Elizabeth Holmes arrives at federal court with her partner Billy Evans on November 18, 2022. According to the restitution order, Holmes and Balwani are responsible for $125 million in restitution to Murdoch, $40 million to Walgreens, and $14.5 million to Safeway.
Persons: Elizabeth Holmes, Sunny Balwani, Rupert Murdoch, Holmes, Daniel Richman, Evan Gotlob, Saul Ewing, Billy Evans, Justin Sullivan, Justice Department's, It's, Balwani, Insider's, Murdoch, Gotlob, There's Organizations: Morning, News Corp, Walgreens, Safeway, Forbes, Federal, Office, Columbia Law School, Justice, US, Prosecutors Locations: California, Arizona, Manhattan, Boston, Northern California
In this as-told-to essay, Lisa Grotts describes leaving San Francisco after years of loving it. I moved to San Francisco in 1984. San Francisco has changed a lotLisa Mirza Grotts said she never expected to move out of San Francisco. Now that I'm not a San Francisco taxpayer, I don't have to complain about what goes on. Did you leave San Francisco recently?
Persons: Lisa Grotts, , Lisa Mirza Grotts, It's, I'd, Willie Brown, I've, Grotts, Lauryn Haas Organizations: San, Service, Nordstrom, Safeway, lhaas Locations: San Francisco, Healdsburg , California, Williams, Sonoma, Healdsburg
No one was killed or injured in the early hour blasts in Washington's Northeast neighborhood, but all three places were damaged, police said in a statement. In one of the blasts, someone threw "a Molotov cocktail style object" at a Safeway store before fleeing in a vehicle, police said. The suspect's back was turned to the surveillance camera in that image and the face was not visible. In an editorial column last year, the Washington Post said that the regularity of violence and crime in Washington was "alarming" and posed a "serious problem." Reporting by Kanishka Singh in Washington; editing by Grant McCool and David GregorioOur Standards: The Thomson Reuters Trust Principles.
Persons: Kanishka Singh, Grant McCool, David Gregorio Our Organizations: Police, Safeway, Nike, Washington Post, Thomson Locations: Washington, U.S, Northeast, Maryland
Check out the companies making headlines in premarket trading. General Mills — Shares dropped 3.9% following mixed fiscal fourth-quarter results. The Betty Crocker and Cheerios owner beat Wall Street expectations on earnings, reporting $1.12 in adjusted earnings per share against a Refinitiv consensus estimate of $1.07 per share. The Wall Street bank said Pinterest is making the strategic move to outsource monetization to third-parties to overcome its attribution and scale challenges, including a partnership with Amazon. ZoomInfo — Shares of the software company added 3.9% in premarket trading after Needham initiated coverage of ZoomInfo with a buy rating.
Persons: Mills, Betty Crocker, Biden, Wells, Pinterest, Goldman Sachs, Morgan Stanley, Needham, ZoomInfo, Yun Li, Jesse Pound Organizations: Safeway, Nvidia, Street Journal, iShares Semiconductor, Amazon Locations: San Anselmo , California, China
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