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☆ Wayfair lays off 13% of its workforce weeks after telling employees to work harder
▼ + stars: | 2024-01-19 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns. “I believe we need to stay focused as a company on what committed small teams can accomplish,” Shah wrote Friday. All workers will receive an email Friday about their future with the company and severance will be offered to those affected. Late last year, Wayfair’s Shah garnered attention for his blunt year-end letter to his employees telling them to blend work and life together. Shah also encouraged Wayfair employees to think of the company money they spend as their own and negotiate prices.

Persons: New York CNN —, Niraj Shah, Wayfair “, Shah, “, ” Shah, Wayfair, Wayfair’s Shah, ”, CNN’s Nathaniel Meyersohn Organizations: New, New York CNN Locations: New York, Boston

☆ Cable companies are replacing ancient cable boxes with these tiny new gadgets
▼ + stars: | 2024-01-18 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

Cable companies are trying to catch up with the times, though, and now want you to replace your clunky set-top cable boxes with sleek, Apple TV-like streaming devices – gadgets that could save customers money. Xumo is one step in cable companies’ broader strategy to combine live TV with streaming – essentially rebundling streaming services like the old cable bundle. Moving from a cable box to Xumo will save cable customers money. It’s a shift for cable companies that long relied on trying to get households to add as many set-top cable boxes in their homes as possible. It could be a while before the ancient cable box completely disappears, however.

Persons: Max, ‘, Xumo, Bruce Leichtman, ” Craig Moffett, Jessica Fischer Organizations: New, New York CNN, Cable, Apple, Comcast, Netflix, Disney, CNN, Google, “ Cable, ” Locations: New York

☆ Macy’s is laying off workers and closing five stores
▼ + stars: | 2024-01-18 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

David McLane/NY Daily News Archive/Getty Images The first Macy's store, on New York's Sixth Avenue, is seen circa 1880. New York Times Co./Hulton Archive/Getty Images Workers sort parcels at a Macy's store circa 1942. Fritz Goro/The LIFE Picture Collection/Shutterstock Women show dolls to children at a Macy's store around Christmas in 1942. Fred Morgan/NY Daily News Archive/Getty Images The Radio City Rockettes march in the Macy's Thanksgiving Day Parade in 1966. Amy Sussman/AP Images for Macy's This Macy's store in West Palm Beach, Florida, was one of dozens of stores that the company announced it would be closing in 2017.

Persons: David McLane, Santa Claus, Fritz Goro, Bernard Hoffman, Rita Hayworth's, Nina Leen, Fred Morgan, Paul DeMaria, Jean, Erick Pasquier, Monica Almeida, Chris Hondros, Timothy Fadek, Andrew Craft, Eric Thayer, Eduardo Munoz, Andrew Kelly, Amy Sussman, Joe Raedle, Charles Krupa, Gary Hershorn, Macy’s Organizations: New, New York CNN — Veteran, CNN, Street Journal, Commerce Department, NY, The New, Historical Society, of Congress, Santa, Bettmann, . New York Times Co, Hulton, Getty, Keystone, Herald, Macy, City, Workers, Fayetteville Observer, USA, Reuters Shoppers, Reuters, Saxon Middle School Choir, Downtown Burlington High School, Corbis Locations: New York, ., France, Fayetteville , North Carolina, Bay Shore , New York, West Palm Beach , Florida, Burlington , Vermont, New York City, Santa Claus

☆ Walmart raises store managers’ pay for first time in a decade, average hits $128,000
▼ + stars: | 2024-01-18 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

Now, Walmart is saying it’s going to pay the managers of those stores, charged with that huge responsibility, accordingly, with a new average salary of $128,000 a year. Walmart said Thursday it is boosting the average pay of its store managers from $117,000, or by just over 9%, the retailer announced Thursday. The company told CNN that it hasn’t made any changes to store managers’ pay structures in more than a decade, before a pandemic and all that followed subsequently, including a period of high inflation. Previously, the pay range for store managers was between $65,000 and $170,000, it said. The retailer noted that as many as 75% of its managers began their Walmart careers as hourly workers.

Persons: New York CNN —, hasn’t, ” Cedric Clark, ” Clark, “, CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, Walmart, CNN, Walmart U.S, Target Locations: New York, The Minneapolis, Bentonville , Arkansas, U.S, Washington

☆ Costco is testing out a new system for entering stores
▼ + stars: | 2024-01-16 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Bad news if you’re mooching off of someone else’s Costco membership: The retail giant is cracking down. Costco membership cards are non-transferable, but the company allows members to give a second household card to one other person in their home. But Costco has noticed that non-members have been sneaking in with membership cards that don’t belong to them — particularly since Costco expanded self-checkout. And now, Costco is testing out a system that requires members to scan their membership cards at the store entrance — instead of just flashing the card to employees. Costco is testing the scanners at a handful of stores to see if they help.

Persons: you’re, ” Costco, Richard Galanti, “, ” Organizations: New, New York CNN, Costco, Shoppers, CNN, Netflix Locations: New York, Washington State

☆ Peace and Prosperity in the Taiwan Strait Still Have a Chance
▼ + stars: | 2024-01-15 | by ( Nathaniel Taplin | ) www.wsj.com time to read: 1 min

Taiwanese Vice President Lai Ching-te declared victory in the island’s presidential vote on Saturday. Lai’s Democratic Progressive Party secured an unprecedented third straight term in the presidency. Photo: An Rong Xu/Bloomberg NewsTaiwan has voted: bringing the independence-leaning Democratic Progressive Party an unprecedented consecutive third term in the presidency. Now the world is waiting on Beijing, which claims Taiwan but doesn’t rule it. Saturday’s DPP victory, with around 40% of the vote, could mean more scary headlines in the near-term.

Persons: Lai Ching, Rong Xu, Nancy Pelosi’s Organizations: Democratic Progressive Party, Bloomberg News Taiwan, DPP Locations: Beijing, Taiwan

☆ Can we turn all those empty office buildings into housing?
▼ + stars: | 2024-01-13 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

Experts in housing, building, and urban planning say it may be difficult to convert office space to livable, likeable residential housing, but there’s an urgent reason they’re trying. More office space is sitting empty in the United States than at any point since 1979, Moody’s Analytics reported earlier this week. By some estimates, only 3% of New York City office buildings and 2% in downtown Denver are suited for residential conversions. Office space and homes are two fundamentally different types of buildings, according to builders and architects. Do you have another building where you can move them?”As result, according to Theodos, office conversions are not a solution to either the empty office glut or the housing supply shortage.

Persons: Biden, ”, Harold Bordwin, Keen, Brett Theodos, ” Bordwin, “, ” Maren Reepmeyer, ” Theodos, –, Nathaniel Meyersohn, Donald Judd Organizations: DC CNN, Moody’s, National Association of Realtors, Summit Capital Partners, Metropolitan Housing, Policy Center, Urban Institute, “, CBRE, Wacker, Chicago Business Locations: Washington, New York, Boston, Cleveland, United States, Manhattan, “, New York City, Denver, Chicago, Theodos

☆ CVS will change the way it prices drugs
▼ + stars: | 2023-12-05 | by ( Tami Luhby | Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

New York CNN —CVS is revamping the way it reimburses its pharmacies for prescription medications, a move that could make prescription drug pricing simpler and change how much consumers pay for their medicines. It’s a similar model to the one entrepreneur Mark Cuban is pushing with his Cost Plus Drugs company. This shift in payment models could change the cost of prescription drugs for some patients, although it will not necessarily make all medicine cost less. Some drugs may cost less, while others might rise in price, CVS executives said. Americans spend around $1,200 a year on average for prescription drugs — more than any other country — according to the Organization for Economic Co-operation and Development.

Persons: Mark Cuban, ”, Prem Shah, Nick Fabrizio, Fabrizio, they’ve Organizations: New, New York CNN, CVS, Plus, CVS Pharmacy, CVS Health, Cornell University, Organization for Economic Co, Kaiser Family Foundation, Amazon Pharmacy, Cuban, Plus Drug, Blue Locations: New York, California

☆ Ghost kitchens were supposed to revolutionize restaurants. They’re crashing
▼ + stars: | 2023-12-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

But ghost kitchens are now crashing. Ghost kitchens are stripped-down commercial kitchens with no dine-in option. Sometimes called cloud kitchens, dark kitchens or virtual kitchens, ghost kitchens fulfill online orders from delivery apps like Grubhub and Uber Eats. Ghost kitchens also offered big chains a way to test new menu concepts, items and brands at lower rents and with less labor. So restaurants have shut down their ghost kitchens and funding for the concept has dried up.

Persons: Uber, Pat Greenhouse, ”, John Gordon, ” Wendy’s, Travis Kalanick, Applebee’s, “, Stephen Zagor, ” John Gordon, Tiffany Hagler, Wendy’s, Kalanick’s CloudKitchens, ” Gordon Organizations: New, New York CNN, Big, Kroger, Reef Technology, Boston Globe, Technology, Wings, Columbia Business School, National Restaurant Association, Geard, Bloomberg, Getty, Butler Locations: New York, South Boston, Dobbs Ferry , New York, U.S

☆ Pressure Is Building in China’s Financial Plumbing
▼ + stars: | 2023-12-04 | by ( Nathaniel Taplin | ) www.wsj.com time to read: 1 min

China’s money markets are twitchy following problems in the property sector and the insolvency of asset manager Zhongzhi Enterprise Group. Photo: Bloomberg NewsPlumbing is something most of us take for granted—until there’s a problem, at which point things can get messy fast. Likewise for the “plumbing” of modern financial systems: the money markets, where banks and other financial institutions make short-term loans to each other. So given the strains China’s economy is already laboring under—including a slow-motion property sector implosion and the “serious” insolvency of Zhongzhi Enterprise Group, a large asset manager, in its own words—it isn’t a great sign that China’s money markets have recently been throwing off little blips of distress too.

Organizations: Zhongzhi Enterprise, Bloomberg, Plumbing, Zhongzhi Enterprise Group

☆ While Black Friday and Cyber Monday did good, Giving Tuesday lagged
▼ + stars: | 2023-12-03 | by ( Sergio Padilla | ) edition.cnn.com time to read: +4 min

New York CNN —Americans seemed more willing to spend money on Black Friday and Cyber Monday, but less willing to donate money on Giving Tuesday. Giving Tuesday’s decline in participation is not an isolated incident, but rather, as its organization acknowledges, part of larger trends philanthropic organizations are experiencing. According to a report by Giving USA from this past June, Americans are giving the lowest percentage of their disposable income since 1995. Americans gave just 1.7% of their disposable income in 2022, with charitable giving declining from 2021 by 3.4% to $499.3 billion, which represents an even larger decline of 10.5% when adjusted for inflation. “I think the numbers are very interesting in terms of Black Friday and Cyber Monday but they don’t tell you the whole picture,” said Neil Saunders, managing director of GlobalData Retail.

Persons: “, ”, Asha Curran, Ebenezer Scrooge, Neil Saunders, ” Saunders, CNN’s Nathaniel Meyersohn, Elisabeth Buchwald Organizations: New, New York CNN, Black, CNN, GivingTuesday, United Nations Foundation, National Retail Federation, Adobe, Federal, GlobalData, Adobe Analytics, Charities Aid Locations: New York, New York City

☆ All the 'Virgin River' books, in order
▼ + stars: | 2023-12-03 | by ( Esme Mazzeo | ) www.businessinsider.com time to read: +22 min

While waiting for season six, here's the full list of books in the "Virgin River" series and the correct order to read them in. "Virgin River" (2007)"Virgin River" HarperCollins"Wanted: Midwife/nurse practitioner in Virgin River, population six hundred. "A Virgin River Christmas" (2008)"A Virgin River Christmas" HarperCollins"Last Christmas Marcie Sullivan said a final goodbye to her husband, Bobby. But the Sheridan and Riordan families have different plans for Patrick and Angie and for Christmas, Virgin River style!" "Return to Virgin River" (2020)"Return to Virgin River."

Persons: —, Robyn Carr, Melinda Monroe, she's, Mel, …, Sheridan, John, Middleton, Paige Lassiter, Semper Fidelis —, it's, Brie Sheridan, Mike Valenzuela, Virgin River's, Mike, Brie, Marcie Sullivan, Bobby, Ian Buchanan, Bobby's, Ian, Marcie, Ian doesn't, Virgin River, Vanessa Rutledge, Vanessa, Matt, Paul Haggerty, he's, Matt's, Paul, Shelby McIntyre, Luke Riordan, Shelby, Luke, Rick Sudder, Iraq —, Rick, Dan Brady, they'd, Nathaniel Jensen, Annie McCarty, Noah Kincaid, Noah, Ellie Baldwin, Ellie, Franci Duncan, Sean Riordan, Sean, — he's, Franci, Rosie, Erin Foley, Erin, Aiden Riordan, journaling, there's, Drew Foley, Sunny Archer, Sunny, Drew, Clay Tahoma, Lilly Yazhi, Lilly, There's, Clay, HarperCollins, Colin Riordan, Jillian Matlock, Jillian, Colin, Kelly, Kelly's, Lief Holbrook, Courtney, Becca Timm, Denny Cutler, Denny, Becca, Connor Danson, Leslie Petruso didn't, Connor, Leslie, Katie Malone, Katie doesn't, Dylan Childress, Dylan, Katie, Nora Crane, they've, harvesttime, Tom Cavanaugh, Nora doesn't, Nora, She's, Tom won't, Riordan, Patrick, Angie LeCroix, Jack Sheridan, she'd, Patrick Riordan, Angie, Kaylee Organizations: Netflix, Service, HarperCollins, California, Virgin, Virgin River, eBay, Bar, Marines, redwoods Locations: California, Virgin River, Virgin, Sacramento, Fallujah, Vanni, Paradise, Iraq, Los Angeles, —, Jill's, San Francisco, LA, Kelly's, Redwood, Southern California

New York CNN —Walmart confirmed on Friday that it is not advertising on X, the social media platform owned by Elon Musk and formerly known as Twitter. “We aren’t advertising on X as we’ve found other platforms to better reach our customers,” a Walmart spokesperson said in a statement to CNN. A number of prominent brands paused their advertising on X, last month following Musk’s public embrace of an antisemitic conspiracy theory favored by White supremacists. “I don’t want them to advertise,” Musk said at the New York Times DealBook Summit in New York. “If anyone is killing X, it’s Elon Musk – not advertisers,” she said.

Persons: Elon Musk, White supremacists, Joe Benarroch, Musk, dumbest, ” Musk, ”, didn’t, Craig Atkinson, CNN it’s, Big, they’re, Jasmine Enberg, it’s Elon Musk, “, Personally, ” Enberg, Benjamin Netanyahu, Isaac Herzog, Israel “ wasn’t, he’s, – CNN’s Jennifer Korn Organizations: New, New York CNN, Walmart, Elon, CNN, Reuters, New York Times DealBook, Disney, Paramount, Comcast, Lionsgate, Warner Bros, Insider Intelligence, Intelligence, Israeli Locations: New York, Israel

☆ China’s Economy Is Stuck in a Vicious Cycle
▼ + stars: | 2023-11-30 | by ( Nathaniel Taplin | ) www.wsj.com time to read: 1 min

The pandemic-era collapse in consumer confidence, borrowing, and job prospects is still a huge obstacle to China’s recovery. Photo: Cfoto/Zuma PressChina probably can’t fix its broken housing market without fixing the labor market and consumer confidence. But more exuberant consumers and a stronger labor market depend on a healthier housing sector, too. Until Beijing finds a way to square that circle, expect China’s subpar recovery to dribble on.

Organizations: Zuma Press China Locations: Beijing

☆ The NBA In-Season Tournament is confusing people. Ratings are still through the roof
▼ + stars: | 2023-11-30 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

The NBA In-Season Tournament, running this year for the first time, is the league’s idea for that mid-season boost. The media rights to NBA games are up after the 2024-2025 season, and the tournament could make the NBA’s television rights more lucrative to potential networks and streaming bidders. To add intrigue to the tournament, each of the 30 NBA teams has a distinct court design and jersey for games. The NBA’s strategy behind the colorful court designs was to attract attention — even if some of the reaction to the courts has been negative. The NBA in-season tournament is the latest example of sports leagues adapting to try to add excitment in an increasingly competitive media environment.

Persons: Jeff Haynes, NBAE, ”, Jacinda Ortiz, Mark Cuban Organizations: New, New York CNN, Chicago Bulls, New Orleans Pelicans, NBA, NFL, United Center, Games, ESPN, TNT, Sports Business, CNN, Warner Bros ., ” Dallas Mavericks, Mavericks, MLB, Nickelodeon Locations: New York, Chicago, Las Vegas, Europe

☆ Meta thwarts Chinese propaganda threat to US democracy before 2024 election
▼ + stars: | 2023-11-30 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +4 min

Meta did not attribute the network of fake Facebook accounts to a particular entity in China. It’s the latest in a series of warnings from tech firms documenting how Chinese propaganda and influence operations have more aggressively targeted American audiences in the last year. It wasn’t clear, Meta said in a report on foreign online threats published Thursday, what the Chinese network of fake accounts was trying to accomplish. While Meta and other tech firms tout their work to protect elections, recent moves by the company also show trends in the other direction. And Meta this month said it would allow political ads on its platforms to question the outcome of the 2020 US presidential election.

Persons: Meta, Ron DeSantis, Nancy Pelosi, Iran —, haven’t, Nathaniel Gleicher, ” Ben Nimmo, ”, Liu Pengyu Organizations: CNN, Florida Gov, Meta, Republicans, US, of Liberty, Microsoft, Embassy Locations: China, Russia, Iran, Washington

☆ The holiday spending spree is fueled by ‘Buy Now, Pay Later’ shoppers
▼ + stars: | 2023-11-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —The Black Friday and Cyber Monday billion-dollar US spending spree was fueled by “Buy Now, Pay Later” shoppers. On Cyber Monday, Buy Now, Pay Later purchases hit an all-time high, up 43% from a year ago, according to Adobe Analytics. The number of items per order also rose 11% annually as shoppers used Buy Now, Pay Later for larger purchases. Consumers risk stacking on debt they can’t pay off with Buy Now, Pay Later purchases, financial researchers say. While Buy Now, Pay Later was initially designed to help shoppers pay for big-ticket purchases, consumers are increasingly using these services to buy groceries and everyday necessities, research shows.

Persons: CNN’s Alicia Wallace Organizations: New, New York CNN, Adobe Analytics, New York Federal, Federal Reserve Bank of New Locations: New York

☆ Rite Aid is closing another 30 stores
▼ + stars: | 2023-11-29 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Rite Aid is closing another roughly 30 locations across the US in addition to the 100 the bankrupt chain announced last month as part of its restructuring efforts. Rite Aid will have about 2,000 stores remaining when both rounds of closures are complete. Rite Aid is in much worse financial shape than its competitors. Over the past six years, Rite Aid has tallied nearly $3 billion in losses and its stock is down more than 90% for the year. That has forced Rite Aid and its rivals to reduce its physical footprint in recent years.

Persons: didn’t, –, Kavilanz, Nathaniel Meyerson Organizations: New, New York CNN —, Nevada . Rite, Rite Aid, Amazon, Walmart, Target, Costco, Aid, Solutions, CVS, Walgreens, McKinsey Locations: New York, California, Pennsylvania, Ohio , Virginia, Washington, Michigan , New Jersey , Oregon, Connecticut , Maryland, Nevada

☆ A 68-year-old man did the 20 Bridges swim challenge in a life-threatening rainstorm and set a new world record
▼ + stars: | 2023-11-27 | by ( Margaret Hetherman | ) www.businessinsider.com time to read: +6 min

He swam the "20 Bridges" challenge: a 28.5-mile loop that starts and ends at Battery Park in NYC. Horne took his first strokes with the Statue of Liberty in sight. A state of emergency was declared while he swamFor hours, Horne dodged plastic, tissues, and leaves — the usual assortment expected in Big Apple waterways with a huge rainfall. He was forced to call it quits during a "20 Bridges" try in July when lightning lit up the river beneath him — and it happened at the 19th bridge. With the English Channel under his belt and one aborted attempt at "20 Bridges," Horne set his sights in August on California's Catalina channel.

Persons: Ed Horne, —, Ophelia, Horne, Nathaniel Johnston, Thomas Crystall, Louise Darlington, Johnston, " Horne, Horne's, Darlington, Eric Durban, He's, George Washington Bridge Organizations: Triple Crown, Service, New, English Channel, Guinness World, Big Apple, New York City, Channel, California's, Catalina Locations: NYC, Manhattan, of, Brooklyn, Darlington, Big, British, Wissant, France

The Carolina Panthers fired their coach on Monday following the team’s NFL-worst 1-10 start in his first year at the helm. Instead, the Panthers are assured of a sixth straight losing season since Tepper bought the team in 2018 for $2.275 billion. Political Cartoons View All 1265 ImagesSpecial teams coordinator Chris Tabor will take over as interim head coach. Tabor will become the fifth head coach or interim head coach since Tepper bought the team. Tabor has never served as an NFL head coach.

Persons: CHARLOTTE, Frank Reich, David Tepper, Tepper, Reich, Bryce Young, Moore, Chris Tabor, Thomas Brown, Jim Caldwell, Tabor, Matt Rhule, Steve Wilks, haven’t, Pete McCulley, Nathaniel Hackett, Urban Meyer, Freddie Kitchens, Ron Rivera, Perry Fewell, Rhule, Wilks, Young, ___ Organizations: The Carolina Panthers, NFL, Panthers, Tennessee Titans, Sunday, Philadelphia Eagles, Indianapolis Colts, Carolina, San, Major League Soccer, Baylor, Chicago Bears, Young Locations: N.C, Carolina, San Francisco, Denver, Jacksonville, Cleveland, Arizona, Charlotte

☆ Premarket stocks: How the ‘Black Ceiling’ is holding some professionals and the economy back
▼ + stars: | 2023-11-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +12 min

In his new book “The Black Ceiling” Woodson, a former attorney, sheds light on systemic issues within elite professional settings and the broader economic repercussions that come from underutilizing and marginalizing talented Black professionals. Woodson spoke with more than 100 Black professionals about what he calls the Black ceiling — a significant barrier that impedes career progression and creates stigma and anxiety in the workplace. Racial discomfort encapsulates the sense of unease that a lot of Black professionals experience working in elite white work settings. Selective punitiveness is the widespread perception that Black professionals get treated especially harshly when they make mistakes. Firms need to train their personnel, especially their senior white professionals so that they don’t judge junior Black professionals adversely for these challenges.

Persons: Kevin Woodson, ” Woodson, Woodson, Bell, it’s, who’ve, Kim Schmidt, they’re, that’s, doesn’t, It’s, Eva Rothenberg, ” Grant Gustafson, Corie Barry, “, ” Barry, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN — Corporate America, University of Richmond School of Law, Elite, Sensormatic, Black, Adobe, Retailers Locations: New York, underutilizing, DC

☆ Empty Bed Bath & Beyond stores are hot real estate. Here’s who’s moving in
▼ + stars: | 2023-11-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

(Overstock.com bought Bed Bed & Beyond’s brand out of bankruptcy and has relaunched it online, complete with the 20% coupons.) Burlington, Michaels, Barnes & Noble, Ollie’s Bargain Outlet, Macy’s, HomeGoods and other chains have replaced old Bed Bath & Beyond stores. The majority of Bed Bath & Beyond’s stores are in the suburbs of mid-size and large cities, and are under 50,000 square feet. Bed Bath & Beyond spaces have been grabbed up swiftly at rents of up to 50% what Bed Bath & Beyond was paying, according to commercial real estate investment firm CBRE. Kimco Realty, a real estate owner with 26 former Bed Bath & Beyond leases, said that new leases were 38% higher than Bed Bath & Beyond rents.

Persons: Michael O’Sullivan, Barnes, Noble, hasn’t, Warby Parker, Brandon Isner, CBRE’s, ”, TJ Maxx, REI Organizations: New, New York CNN, Sears, Circuit, Kmart, Burlington, Bed, Kimco, Sports Authority Locations: New York, Burlington, . Burlington, Michaels, Kimco, HomeGoods

☆ How Best Buy is beating shoplifting
▼ + stars: | 2023-11-24 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

But Best Buy says it has shoplifting under control. Best Buy has some inherent advantages over, say, CVS because heavy flat-screen TVs are harder to steal than razor blades. Not too many things in criminology are better understood than that.”Higher levels of staffing in stores have made a difference in Best Buy’s success against shoplifting, CEO Barry said. Best Buy has security staff at the front of stores to monitor customers entering and exiting and does not have many self-checkout machines. We don’t really have self-checkout.”Lowe’s has also attributed its low theft rates to higher staffing levels in stores.

Persons: Corie Barry, “, ” Barry, John Eck, ” Eck, you’re, Barry, Lowe’s, ”, Marvin Ellison Organizations: New, New York CNN, National Retail Federation, Retailers, Staff, University of Cincinatti Locations: New York

☆ The tug-of-war is on between deal-hungry shoppers and retailers wary of giving them throw-away prices on Black Friday
▼ + stars: | 2023-11-24 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +7 min

So are the start-of-the-season deals enticing enough for shoppers or are they holding out in a cat-and-mouse game with retailers? Michael Brown, retail industry leader and partner with management consulting firm Kearney, said the much earlier-than-usual jumpstart to holiday sales this year could be to blame. Shoppers will be holding out for better deals,” he said. Kena Betancur/Getty ImagesTotal holiday sales this year are expected to come in softer compared to last year. He said there were plenty of 25% off Black Friday deals mall-wide and some deeper 40% off promotions for early-bird shoppers.

Persons: New York CNN —, Michael Brown, Kearney, ”, Brown, Emily Elconin, Marshal Cohen, ” Cohen, Barbie, Willing, they’ve, Kena Betancur, Brian Schroeder, Kendra Scott, “, Aeropostale, Aritzia, Shannon Stapleton, Marc Rosen, Rosen, ” Rosen, Nathaniel Meyersohn Organizations: New, New York CNN, “, Shoppers, Black, National Retail Federation, Adobe Analytics, Disney Little, Marvel, Macy's, Brookfield Properties, Brookfield Asset Management, Nike, Apple, Simon Property Group, JCPenney Locations: New York, Oaks, Michigan, New York , New York, La Cantera, San Antonio , Texas, Brookfield, Roosevelt, Garden City , New York, Penney

☆ China Tried Using Economic Ties to Bring Taiwan Closer. It Isn’t Working.
▼ + stars: | 2023-11-23 | by ( Joyu Wang | Nathaniel Taplin | ) www.wsj.com time to read: 1 min

TAIPEI—For years, Beijing hoped to win control of Taiwan by convincing its people their economic futures were inextricably tied to China. Instead, more Taiwanese businesses are pivoting to the U.S. and other markets, reducing the island democracy’s dependence on China and angering Beijing as it sees its economic leverage over Taiwan ebb.

Locations: TAIPEI, Beijing, Taiwan, China

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