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☆ Retail CEO turnover soars, and fewer women hold top jobs in the industry
▼ + stars: | 2024-01-25 | by ( Courtney Reagan | ) www.cnbc.com time to read: +2 min

Last year, U.S. companies announced 55% more CEO changes than in 2022, according to outplacement firm Challenger, Gray & Christmas. Boards didn't want to make changes, CEOs themselves didn't want to leave. The retail industry in 2023 saw 52 CEO departures, its second-highest number since Challenger, Gray & Christmas started tracking them, and more than double the 21 CEO turnovers in 2022, according to the firm's data. It was below 2019's record 63 CEO departures in the industry. In Korn Ferry's separate analysis of retail CEO turnover in 2023, the executive recruitment firm found 57% of new chief executives named in the industry last year were already working for the company they will lead.

Persons: Michelle Gass, Levi Strauss, Macy's, Andy Challenger, Challenger, Korn Organizations: Kohls Corp, National Retail Federation Inc, Challenger Locations: New York, U.S

☆ Futures falter as Fed forecasts further rate hikes
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

Traders see a 72% chance of a 25-basis-point rate hike in July, up from around 60% a day earlier, according to the CME Fedwatch tool. "Powell expressed that the committee seemed surprised about the resilience of current inflation even if Tuesday's CPI print showed a continued slowing in the headline inflation rate," said Charles Hepworth, investment director at GAM Investments. The S&P 500 (.SPX) and Nasdaq (.IXIC) rose for a fifth consecutive session on Wednesday, while the Dow (.DJI) ended down following the Fed decision. ET, Dow e-minis were down 78 points, or 0.23%, S&P 500 e-minis were down 18.25 points, or 0.41%, and Nasdaq 100 e-minis were down 107 points, or 0.7%. Reporting by Shristi Achar A and Sruthi Shankar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: TD Cowen, Powell, Charles Hepworth, Shristi Achar, Sruthi Shankar, Vinay Dwivedi Organizations: Dow, Nasdaq, Federal Reserve, Fed, Traders, GAM Investments, Apple, Nvidia, Tesla, Dow e, Investors, Kohls Corp, Alibaba, People's Bank of China, Thomson Locations: China, U.S, Bengaluru

Fourteen of the top 30 advertisers on Twitter stopped all advertising on the platform after Musk took charge on October 27, according to the Pathmatics estimates. Pathmatics said the previously unreported figures on Twitter advertising are estimates. read moreThe Pathmatics estimates show continued upheaval in Twitter's main revenue stream heading into 2023, led by a pullback from top consumer brands. Among consumer brands, Heinz ketchup maker Kraft Heinz Co(KHC.O) and Stouffers meal manufacturer Nestle SA (NESN.S) stopped all advertising, according to the Pathmatics estimates. Financial technology provider SmartAsset and Amazon.com Inc (AMZN.O) said Pathmatics estimates showing an increase in advertising were inaccurate.

☆ Investors look for clues on consumer health as holiday shopping kicks off
▼ + stars: | 2022-11-25 | by ( David Randall | ) www.reuters.com time to read: +4 min

NEW YORK, Nov 25 (Reuters) - Investors are closely watching U.S. retail stocks as a barometer of consumer confidence as inflation bites, as the most important shopping season of the year begins on Friday. That would come in below both the 13.5% jump reported last year, and the 9.3% gain in 2020. Expectations for purchasing long-lasting manufactured goods fell 21% due to high interest rates and high prices, the survey found. Shares of Walmart are up 7.5% for the month to date, while shares of Target are down 1.2%. Kohl's, meanwhile, withdrew its forecast as it faces weakening demand due to rising prices.

Reuters GraphicsMelissa Benhaim, a 32-year old publicist in Miami, started her holiday shopping slightly later than usual this year. A Saturday shopping day between Thanksgiving and Christmas this year gives shoppers extra time to hold out for better bargains. Holiday shopping is expected to slow broadly. Reuters GraphicsBut toy prices, even with discounts, are up about 2.4%, DataWeave found. Shoppers are paying $16.99 for the toy this year at Kohl's, after discounts, compared to $11.54 last year, according to DataWeave.

Goldman on Monday elevated Avinash Mehrotra and Brian Haufrect as the new co-heads of Americas M&A, according to an internal memo seen by Reuters. Both Mehrotra, who currently is the head of global activism and takeover defense, and Haufrect, who is global head of natural resources M&A, will continue to hold their existing roles on top of their new responsibilities. Russ Hutchinson will rejoin Goldman's investment banking unit as chief operating officer of its global M&A business, according to the memo sent to employees by Goldman's global co-heads of Global Banking & Markets, Dan Dees and Jim Esposito. Haufrect, who heads Goldman's natural resources deals franchise, was made partner at Goldman in 2016, according to his LinkedIn profile. Goldman's top six dealmakers - global co-heads of M&A, Stephan Feldgoise and Mark Sorrell, and M&A chairmen, Tim Ingrassia, Dusty Philip, Gilberto Pozzi and Gene Sykes - will continue running the franchise, according to the memo.

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