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☆ Premarket stocks: Will the debt ceiling debate finish the Fed's inflation fight?
▼ + stars: | 2023-05-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Over the last 14 months, the Federal Reserve has taken a deliberate and economically painful approach to combating elevated inflation rates through interest rate hikes. The regional banking crisis and a possible debt-ceiling induced default on US debt could change all of that. What’s happening: There are two policy options that the Fed can use to address elevated inflation. For the first quarter, Lowe’s said overall sales fell 5.5% to $22.3 billion. Home Depot missed on first quarter sales and lowered its outlook for the year after customers slowed their spending.

Persons: shouldn’t, ”, Laurence Ball, Edward Boehne, Jerome Powell, Ben Bernanke, Powell, Ball, there’s, Austan Goolsbee, “, Julian Brigden, Bernanke, ” Bernanke, Olivier Blanchard, Bryan Mena, Blanchard, David Goldman, Parija, Lowe’s Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Johns Hopkins University, ” Former Philadelphia Fed, Fed, Valley Bank, Signature Bank, Federal Reserve Bank of Chicago, Yahoo Finance, Partners, International Monetary Fund, Brookings Institution, Target, Walmart, Home Depot Locations: New York, ”, Washington ,, America, California

☆ Why retail theft is soaring: inflation, the economy – and opportunity
▼ + stars: | 2023-05-23 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

But as economic fears grow amid inflation and rising borrowing costs, shoplifting often comes with the territory, industry watchers say. Need and opportunity become forceful catalysts for driving up incidents of retail crime, experts said. He described two types of store theft plaguing retailers currently. “This is organized retail crime. “What’s happening in the overall economy matters when you analyze retail crime overall, but also what is happening more locally, in towns and neighborhoods,” said Hayes.

Persons: Nordstrom, can’t, ”, Read Hayes, criminologist, Hayes, Burt Flickinger, “, Mark Cohen, Cohen, Brian Cornell, Cornell, ” Cornell, that’s, Doug McMillon Organizations: New, New York CNN —, Foods, University of Florida, Prevention Research Council, Walmart, Target, Strategic Resource, Gallup, Columbia Business School, National Retail Federation, CNN, ” Walmart, CNBC Locations: New York, San Francisco, Target

☆ A growing number of sports bras, shirts and leggings brands found with high levels of toxic chemical, watchdog warns
▼ + stars: | 2023-05-17 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

The newly tested brands and their products include leggings from Athleta, Champion, Kohl’s, Nike and Patagonia, sports bras from Sweaty Betty, athletic shirts from Fabletics and shorts from Adidas, Champion and Nike. The group had also tested athletic shirts in October from brands that included The North Face, Brooks, Mizuno, Athleta, New Balance, and Reebok and found similar results. Athleta, Nike, Reebok, The North Face and Victoria’s Secret (which owns PINK) did not provide a comment to CNN at the time. BPA (Bisphenol A) is found in a large number of everyday products, from water bottles and canned foods to toys and flooring. Sports bras and athletic shirts are worn for hours at a time, and you are meant to sweat in them, so it is concerning to be finding such high levels of BPA in our clothing,” Allan Sugerman said.

☆ Etsy is wasting no time jumping into the wedding registry business
▼ + stars: | 2023-05-10 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

While Bed Bath and Beyond and its popular wedding registry service teeter on the edge, Etsy is stepping in to fill any potential void. Etsy announced on Wednesday that the online marketplace for handcrafted items is launching its own wedding registry. In addition to selecting registry items from Etsy’s vast offerings of handmade and vintage items, the company said the Etsy Registry will also provide couples with a personalization service for nuptial-related paraphernalia, such as wedding decor and bridal party items. “So, launching Etsy Registry was a natural next step,” she said. Etsy has launched its own wedding registry called Etsy Registry.

☆ Popular board games, like Scrabble, get tweaked for elderly players
▼ + stars: | 2023-05-04 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

Tweaks to the board games feature several age-inclusive components, said Ted Fisher, co-founder and CEO of Ageless Innovation, which specializes in developing toys for elderly consumers. Ageless InnovationThe new Scrabble Bingo 3-1 edition (priced at $40) has three games — the classic word game of Scrabble, Scrabble Bingo and Scrabble Pass. Foster said Hasbro reached out last year with the idea to adapt the three board games. Toy industry expert Jim Silver said age-inclusive Scrabble, Trivial Pursuit and The Game of Life games make sense. I’m interested to see if Hasbro adds other board games, like Monopoly, to this effort,” he said.

☆ Deal hunters arrive at Bed Bath & Beyond store and can't find throwaway prices -- yet
▼ + stars: | 2023-04-26 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

Bed Bath & Beyond has already shuttered 400 stores over the past year. If it’s able to find a buyer, Bed Bath & Beyond will halt store closings. Bed Bath & Beyond's 20% coupons will no longer be accepted beginning Wednesday. Scenes from outside the Bed Bath & Beyond store in Manhattan, New York on Tuesday, April 25, 2023. Bed Bath & Beyond did not immediately respond to request for comment on the timing and level of liquidation discounts.

☆ 2023 layoff tracker: The latest on which companies have announced job cuts
▼ + stars: | 2023-04-25 | by ( Jennifer Korn | ) edition.cnn.com time to read: +20 min

New York CNN —BuzzFeed, Lyft, Whole Foods and Deloitte all recently announced layoffs affecting thousands of US workers. With 11,000 job cuts announced in November and the 10,000 announced in March, Meta’s headcount will fall to around 66,000 — a total reduction of about 25%. The company announced in January that it was eliminating some 18,000 positions as part of a major cost-cutting bid at the e-commerce giant. IndeedJob listing website Indeed.com announced cuts of approximately 2,200 employees, representing almost 15% of its total workforce, the company said in March. The cuts come after the company announced several rounds of job cuts throughout the pandemic due to falling demand, followed by rapid hiring last year.

☆ Mattel introduces first Barbie doll representing a person with Down syndrome
▼ + stars: | 2023-04-25 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

New York CNN —Mattel on Tuesday introduced its first-ever version of the Barbie doll representing a person with Down syndrome. The new doll is part of Mattel Barbie Fashionistas line, which aims to offer kids more diverse representations of beauty and fight the stigma around physical disabilities. Mattel introduced its first Barbie doll representing a person with Down syndrome. The new Barbie is part of Mattel's Barbie Fashionista line of dolls which champions diverse representations of beauty and appearance. We are proud to introduce a Barbie doll with Down syndrome to better reflect the world around us and further our commitment to celebrating inclusion through play,” she said.

☆ Engagement ring sales slide due to pandemic lockdowns
▼ + stars: | 2023-04-25 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

According to Signet Jewelers, the largest jewelry company in the United States, the pandemic dented sales of engagement rings as relationships faltered or never even blossomed in the first place due to the lockdowns. This created, it said, an “engagement gap.”“We’re still seeing it today,” Jamie Singleton, Signet Jewelers’ president and chief consumer officer, said during the company’s investor day last week. And it’s vital for Signet’s business, because 50% of the company’s merchandise sales come from the bridal segment. Meanwhile, the pandemic also walloped sales of wedding dresses as social gatherings of all kinds came to a standstill, and couples postponed their weddings. As dates were re-booked coming out of the pandemic, brides-to-be have had to contend with inflation and economic uncertainty bearing down on expenses.

☆ Got a stash of Bed Bath & Beyond coupons? You'd better use them soon
▼ + stars: | 2023-04-23 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

Bed Bath & Beyond said it would sell off its merchandise and then go out of business. Instead, Bed Bath & Beyond expects to offer “deep discounts” on its products as part of its going-out-of-business sales. Bed Bath & Beyond, a staple of wedding registries for years, said customers who registered with Bed Bath & Beyond will eventually have their information transferred to a competitor’s service, where guests can purchase similar items. With stores closed for months, and consumers rethinking their nonessential purchases, Bed Bath & Beyond sales and profit took a hit. Now that the company is going through a liquidation process, Bed Bath & Beyond said it’s the end of the road for the coupons.

☆ 'I am a little freaked out.' David's Bridal bankruptcy sparks jitters among brides ahead of summer wedding season
▼ + stars: | 2023-04-19 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

New York CNN —Delaney Dickson is now anxious about her upcoming appointments at David’s Bridal after the retailer filed for bankruptcy this week. Her wedding is set for mid-August and she has a second alteration appointment at a David’s Bridal store. The nearest David’s Bridal store, she said, is almost an hour-and-a half drive to Erie, Pennsylvania. Courtesy Tessa Brown“Many of the customer service inquiries are coming from David’s Bridal customers. “David’s Bridal is such a big name to not be around.

☆ David’s Bridal laying off over 9,000 workers
▼ + stars: | 2023-04-14 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —David’s Bridal, one of largest sellers of wedding gowns in the United States, is laying off thousands of workers nationwide, according to a notice filed to the Pennsylvania Department of Labor. “The scale of these layoffs suggest that David’s Bridal is in crisis mode,” said Neil Saunders, managing director at GlobalData Retail. David’s Bridal filed for bankruptcy in 2018 after being laden with growing debt and declining sales of wedding dresses. The following year, David’s Bridal, which operates more than 300 stores, said it had anticipated weddings to return with a vengeance because of pent-up demand. But the layoffs at David’s Bridal come amid ongoing job losses across retail, tech and other industries.

☆ Tupperware: How a plastic bowl with a 'burping seal' gave women a means to an income
▼ + stars: | 2023-04-13 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +10 min

Tupperware stereotyped women as much as it empowered themTupperware parties became popular social and marketing events in the 1950s and 60s. They wanted to present an upscale version of themselves because these were also events where women were recruited into the Tupperware sales force,” he said. Tupperware products were the centerpiece of the event, carefully stacked and presented to be shown off. Wise, a divorced single mother living in Florida, held her own Tupperware parties in the 1940s and 50s and became a budding entrepreneur. Like Blockbuster, the Tupperware brand will never go away,” he said.

☆ The most-wanted clothing brands at resale are probably hanging in your closet
▼ + stars: | 2023-04-11 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

Resale clothing shoppers are bypassing previously-owned luxury brands at discounted prices in favor of scoring secondhand mid-tier brands for less. As many as 75% of consumers have shopped, or are open to shopping, for secondhand clothing – and demand has only grown during the pandemic. Mid-tier brands like Zara, Levi's and Abercrombie & Fitch have emerged as some of the most popular clothing brands among resale shoppers. In this environment, he said secondhand shoppers are hyper-focused on value, especially when buying clothes, and mid-tier brands are sitting in this sweetspot. ThredUp competitor Poshmark said mid-tier brands like Nike, Free People, Zara and J.

☆ Old Navy’s response to slumping sales: More pockets
▼ + stars: | 2023-04-04 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Old Navy, known for its low-priced basic and trendy seasonal clothing, has adopted an interesting sartorial tactic amid sinking sales. The new dress styles with pockets rolled out into Old Navy stores this month and the retailer said it will also increase the number of summer dresses with pockets. As such, it is a good move for Old Navy to add them,” said Neil Saunders, retail industry analyst and managing director of GlobalData. Old NavyOld Navy’s fourth-quarter sales fell 6% over the previous year, while sales at its stores open at least a year fell 7%. Specifically, Old Navy and Gap brands both said shoppers were pulling back their spending on babies’ and kids’ items.

☆ Morning after pill brand speeds up retail access, doubles supply per pack
▼ + stars: | 2023-04-03 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

The brand is also introducing a new 2-count pack of its emergency contraception (which has a three-year expiration period). Julie rolled out a new two-count pack of its emergency contraception priced at $70. Cleland said a study done last year by the American Society for Emergency Contraception on access to emergency contraception in stores compared price at retail for branded and generic emergency contraception options. “Every time there is a new development on restrictions to reproduction health care, there’s a run on emergency contraceptive. Our retail partners confirmed this,” said Morrison, adding that news events continue to influence buying patterns for emergency contraceptive.

☆ Grime, dirt, stink and funk: Tween boys are skin care’s hottest market
▼ + stars: | 2023-03-26 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

But, until recently, there’s been a glaring shortage of products targeting the skin-care needs of one key demographic – tween boys. The affordable line, which includes a face wash, body wash, moisturizer and topical acne treatment priced under $25, rolled into Target stores and online the following year. “Whether it’s young sensitive skin, or acne, eczema or their first shave, boys have specific skin needs,” said Maguiness. courtesy Stryke ClubThe personal care products market overall in the US amounts to more than $25 billion annually (according to market research firm NPD), but very little of it caters to boys. The body wash, for example, contains prebiotic chia seed extract, which acts as an anti-inflammatory and anti-microbial ingredient, said Biren.

☆ Grime, dirt, stink and funk: Tween boys are skincare’s hottest market
▼ + stars: | 2023-03-26 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

But, until recently, there’s been a glaring shortage of products targeting the skincare needs of one key demographic – tween boys. Maguiness, a board-certified pediatric dermatologist, and three other co-founders launched the boys skincare brand in 2020, at the height of the pandemic. The affordable line, which includes a face wash, body wash, moisturizer and topical acne treatment priced under $25, rolled into Target stores and online the following year. courtesy Stryke ClubThe personal care products market overall in the US amounts to more than $25 billion annually (according to market research firm NPD), but very little of it caters to boys. The body wash, for example, contains prebiotic chia eed extract, which acts as an anti-inflammatory and anti-microbial ingredient, said Biren.

☆ Foot Locker is closing 400 stores by 2026
▼ + stars: | 2023-03-20 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Foot Locker is planning to shut 400 stores by 2026 as it strives to become more relevant to younger shoppers by relaunching its retail brands, introducing “experiential” new store concepts and simplifying its operations by closing underperforming mall-based stores. The stores slotted for closing across North America account for nearly 10% of Foot Locker’s total sales, said Anthony Aversa, Foot Locker senior vice president of store development. Under its corporate umbrella, Foot Locker operates more than 3,000 Foot Locker, Kids Footlocker, Champs Sports, WSS and atmos stores globally. Foot Locker reported fourth quarter sales Monday that eased 0.3% versus a year ago. Foot Locker CEO Mary Dillon told analysts she thinks hybrid work is here to stay and it’s fueling the strength and longevity in casual dressing.

☆ Lunchables are going to be rolled out directly to students. Here’s what’s in them
▼ + stars: | 2023-03-13 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

New CNN —Kraft Heinz has succeeded in getting its ready-to-eat packaged Lunchables into school lunch programs starting this fall, in a major new initiative. The USDA referred CNNBusiness to Kraft Heinz for further details about the cost and nutritional content of its Lunchables for schools. Kraft Heinz declined to provide additional details about the cost and other nutritional content, including sodium and saturated fat content. School food nutrition guidelines getting stricterKraft-Heinz says that Lunchables will minimize school "labor needs and costs" in its promotional materials. “As school nutrition guidelines get increasingly complex, we’ve seen companies leaving the K-12 segment, said Pratt-Heavner.

☆ Adidas has received over 500 offers for massive unsold Yeezy merchandise
▼ + stars: | 2023-03-10 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Adidas has received hundreds of offers for the mountain of unsold Yeezy shoes designed by Ye, the artist formerly known as Kanye West. That represents a potential €500 million ($527 million) hit to the company’s bottom line. To his point, demand in the secondary resale market for Yeezy shoes is surging. Mocadlo said Impossible Kicks has about $2 million in Yeezy sneaker inventory currently, about 10,000 pairs. Prices for Yeezy sneakers are climbing due to tighter supply, according to StockX, a leading sneaker resale platform.

☆ More than 3.2 million Calico Critter toys recalled after deaths of two children
▼ + stars: | 2023-03-09 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +1 min

New York CNN —More than 3.2 million Calico Critters toys that were sold in a set with a baby bottle and pacifier accessories are being recalled because they pose a serious choking hazard for small children, the Consumer Product Safety Commission said Thursday. From United States Consumer Product Safety CommissionThis recall involves all Calico Critters flocked animal figures and sets sold with bottle and pacifier accessories. The bottle accessories were sold in yellow, pink, blue and orange colors. The pacifier accessories were sold in yellow, orange, pink, dark pink, blue and teal colors. The agency said consumers should immediately take the recalled bottle and pacifier accessories away from children and contact the company for instructions on how to submit a photo of the recalled bottle and/or pacifier accessory, along with contact information and other instructions to receive a free replacement accessory.

☆ Wojcicki sisters among seven women pioneers getting their own Barbie doll
▼ + stars: | 2023-03-07 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +1 min

New York (CNN) Barbie isn't one to be pigeonholed into a profession just because she's a woman. She's had an impressive 200 careers on her resume — doctor, astronaut, computer engineer, CEO and even presidential candidate. Among them are the Wojcicki sisters — Susan (longtime CEO of YouTube), Anne (CEO of at-home DNA testing company 23andME) and Janet (professor of pediatrics and epidemiology at the University of California, San Francisco). Susan Wojcicki announced in February that was "stepping back" from her leadership role at YouTube after nearly a decade of running the video-sharing platform. She later became Google's 16th employee and has worked at the company for nearly 25 years.

☆ Yeezy sneakers in hot demand on resale platforms even after Kanye West's anti-semitic remarks
▼ + stars: | 2023-02-27 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

Yeezy sneakers currently are among the top three sellers on Impossible Kicks, a large online reseller of high-end sneakers and clothing that has 17 store locations in the United States. He said Yeezy sneakers are among the top three most-popular brands on the platform after Jordans and other Nike footwear, including Dunk and Air Max shoes. Impossible Kicks, seller of high-end sneakers, said demand for Yeezy sneakers is up 30% since last fall. So now prices for Yeezy sneakers are climbing due to tighter supply, according to StockX, a leading sneaker resale platform. “Since the start of the year, the average price of Yeezy sneakers has increased but sales overall have decreased on StockX,” Drew Haines, director of sneakers and collectibles at StockX, told CNNBusiness.

☆ Billions of dollars are locked up in a present that's easily given and forgotten -- gift cards
▼ + stars: | 2023-02-23 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

Such is the sad fate of gift cards – millions of which go unused each year and have a collective value estimated to be in the billions of dollars. Almost two-thirds of American consumers have at least one unspent gift card tucked away in a drawer, pocket, wallet or purse. A separate study on gift card usage found the average amount on unused gift cards last year was $175 per person, up from $116 in 2021. “I thought with high inflation, people would go to town with their gift cards. Some Visa, Mastercard and American Express gift cards add penalties if they’re not used in a specific period of time, said Stumpf.

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