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☆ Auto parts and dollar store execs warn that low-income Americans are stretched thin and running on borrowed time
▼ + stars: | 2024-09-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

AdvertisementBut Americans are not a monolith, as Jefferies consumer strategist Carey Kaufman pointed out in a note to clients Tuesday. Heading into the autumn, a considerable number of those in the bottom quintile appear to be running on borrowed time. Dollar Tree, which owns Family Dollar, reported similar consumer headwinds during its quarterly earnings this month. "What we noticed was an even tighter core consumer at the very last week of each of the months in Q2," he said. "While that's always a tighter week of the month for our core consumer, it was by far the weakest."

Persons: —, Carey Kaufman, Ted Vasos, Vasos, David Bellinger, Ryan Grimsland, Will Stengel, Ally, Russell Hutchinson, paychecks aren't, that's, Bellinger Organizations: Service, Walmart, Costco, Business, Jefferies, Goldman, Global Retailing, Mizuho, Reuters, Federal Reserve Locations: U.S

☆ Meet the 10 biggest wealth gainers this year — who've added a combined $360 billion to their fortunes in 2024
▼ + stars: | 2024-09-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

The 10 biggest wealth gainers have added a collective $360 billion in net worth so far in 2024. Nvidia's Jensen Huang, Meta's Mark Zuckerberg, and Oracle's Larry Ellison are up over $50 billion. Go to newsletter preferences Thanks for signing up! AdvertisementTen people have grown their personal fortunes by a combined $360 billion this year — a sum larger than the market value of Coca-Cola ($307 billion), Bank of America ($301 billion), or Netflix ($295 billion). This year's biggest wealth gainers include Nvidia CEO Jensen Huang, Meta CEO Mark Zuckerberg, and Oracle chairman Larry Ellison.

Persons: Nvidia's Jensen Huang, Meta's Mark Zuckerberg, Larry Ellison, Jeff Bezos, Warren Buffett, —, Jensen Huang, Mark Zuckerberg Organizations: Walmart, Service, Bank of America, Netflix, Nvidia, Business

☆ India probe finds Amazon, Walmart's Flipkart breached antitrust laws
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +1 min

An employee of Amazon India walks toward a security gate at the company's newly launched fulfillment center on the outskirts of Bangalore. An Indian antitrust investigation has found U.S. e-commerce giant Amazon and Walmart's Flipkart violated local competition laws by giving preference to select sellers on their shopping websites, according to reports seen by Reuters. The Competition Commission of India in 2020 ordered an investigation into Amazon and Flipkart for allegedly promoting certain sellers with which they had business arrangements and giving priority to certain listings. Amazon and Flipkart, as well as the CCI, did not immediately respond to Reuters' request for comment. The two companies will now review the report and file any objections before CCI staff decide on any potential fines.

Persons: Flipkart Organizations: Amazon, Reuters, The, of Locations: Amazon India, Bangalore, of India

☆ Walmart and Clorox are among the most overbought stocks on Wall Street. Here are some others
▼ + stars: | 2024-09-13 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +8 min

Retail giant Walmart is among this week's most overbought stocks, with an 14-day RSI reading of 81.7. The average price target on the Oakland, California-based stock is nearly 10% below the stock's current price, suggesting a pullback may lie ahead. Analysts estimate Halliburton and APA might rally nearly 60% each, while Occidental's price target is 38% above its current level. The average price target on the Oakland, California-based stock is nearly 10% below the stock's current price, suggesting a pullback may lie ahead. Analysts estimate Halliburton and APA might rally nearly 60% each, while Occidental's price target is 38% above its current level.

Persons: Clorox, Johnson, Let's, Gabby Jones, Cooper Organizations: Nasdaq, Dow Jones, CNBC Pro, Retail, Walmart, Consumer, Johnson, Energy, Halliburton, APA, . Occidental Petroleum, Occidental Petroleum, Pharmaceutical, Moderna, JPMorgan, Bloomberg, Getty, UDR UDR, Inc, Oracle Corp, CNBC, HAL Halliburton, APA APA Corp, Occidental Petroleum Corp, Walgreens, Body Locations: Arkansas, Oakland , California, Secaucus , New Jersey

☆ Blank: Kroger's flat pricing reflects broader food trends, with food prices up 2.1% overall
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlank: Kroger's flat pricing reflects broader food trends, with food prices up 2.1% overallJohn Blank, Chief Equity Strategist at Zacks Investment Research, discusses Kroger's flat performance and its merger with Albertsons to compete with Walmart. He notes the FTC's scrutiny and the partisan divide over the merger.

Persons: John Blank Organizations: Zacks Investment Research, Albertsons, Walmart

☆ A Walmart exec explains the surprising reason low-income shoppers pay for a delivery membership
▼ + stars: | 2024-09-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Grocery delivery is not just a perk reserved for middle- and upper-income households, Walmart says. One exec said cash-strapped shoppers are "doing the math" and seeing that delivery saves money. Go to newsletter preferences Thanks for signing up! AdvertisementConveniences like same-day delivery, especially for perishables items like groceries, are one of the more luxurious features of modern retail. As it happens, Walmart says such perks are not just reserved for middle- and upper-income households.

Persons: — Organizations: Walmart, Service, Business

Microsoft told employees on Thursday that it has hired Carolina Dybeck Happe as its executive vice president and chief operations officer, reporting to CEO Satya Nadella. Dybeck Happe comes from GE, where she was senior vice president and chief financial officer from 2020 until September 2023. She will join Microsoft's senior leadership team alongside finance chief Amy Hood, cloud and AI engineering leader Scott Guthrie and other executives. GE CEO Larry Culp called Dybeck Happe "a high-impact executive" when GE announced in 2019 that it had picked Dybeck Happe to replace Jamie Miller as chief financial officer. Before that, she spent almost 17 years at Swedish lock company Assa Abloy, where she became chief financial officer and deputy CEO.

Persons: Carolina Dybeck, Satya Nadella, Dybeck Happe, Microsoft's, Amy Hood, Scott Guthrie, Nadella, Dybeck, Rajesh Jha, Larry Culp, Jamie Miller, Kevin Turner, Gene Munster Organizations: Microsoft, GE, Microsoft Digital IT, Microsoft Business Operations, GE Aerospace, GE Vernova, New York Stock Exchange, Maersk, Walmart Locations: Carolina, Swedish

☆ Meet the 15 members of the $100 billion club — who are jointly worth more than Amazon or Google
▼ + stars: | 2024-09-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

The elite group worth more than $100 billion includes Elon Musk, Jeff Bezos, and Bill Gates. The 15 members have grown about $280 billion richer this year and are jointly worth $2.2 trillion. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk, Jeff Bezos, and Mark Zuckerberg are among the handful of people on the planet with a net worth above $100 billion.

Persons: Elon Musk, Jeff Bezos, Bill Gates, Jim Walton, —, Mark Zuckerberg, Warren Buffett Organizations: Elon, Walmart, Service, Business

☆ I took the same grocery list to Walmart and Target. Both chains had what I needed, but some of the price differences shocked me.
▼ + stars: | 2024-09-12 | by ( Amena Ahmed | ) www.businessinsider.com time to read: +1 min

I took my weekly shopping list to Walmart and Target to compare grocery prices between the chains. Target had a handful of cheaper products, but overall, my total at Walmart was almost $10 less. Go to newsletter preferences Thanks for signing up! AdvertisementLast month, I discovered I could be saving a lot of money by shopping at Walmart instead of Trader Joe's. I took identical shopping lists to Walmart and Target to see where I could get the best value for weekly essentials.

Persons: —, I'm Organizations: Walmart, Target, Service, Business

☆ Amazon is opening Fresh supermarkets after yearlong stall — but many locations remain vacant
▼ + stars: | 2024-09-11 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +9 min

In this article AMZN Follow your favorite stocks CREATE FREE ACCOUNTWorkers stock shelves at an Amazon Fresh grocery store in Seattle, Washington, US, on Thursday, May 2, 2024. As part of the Fresh store redesign, Amazon created a more colorful layout and added Krispy Kreme donut and coffee stalls. "We like the early results a lot," Jassy said on the company's first-quarter earnings call in April, referring to the revamped Fresh stores. Amazon declined to comment on the status of the Fresh stores that remain unopened. "You walk into the Amazon Fresh store in Roseville and it feels like you're in a stainless steel wine cellar," Thill said.

Persons: David Ryder, Joe Knowles, Bensalem, it's, Andy Jassy's, Jassy, CNBC it's, It's, Ted Weill, AlbaneseCormier, Weill, they've, Brent Thill, Thill Organizations: Amazon, Bloomberg, Getty, CNBC, Foods, Walmart, Jefferies, Anadolu, Mart, Shoppers, Aldi, Rancho Mirage Locations: Seattle , Washington, US, Philadelphia, Bensalem , Pennsylvania, California , Illinois, Maryland , New Jersey, Virginia, Illinois, California, Amazon's, U.S, Woodland, Los Angeles, San Mateo , California, United States, Pennsylvania , New Jersey , New York , Florida, Washington, Florida, Mirage , California, Palm Springs, Italian, Sacramento, Roseville, Amazon

☆ Trading the election: Watch these pro-Harris stocks as her odds rise following the debate
▼ + stars: | 2024-09-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Investors and Wall Street analysts may want to take a closer look at stocks that could be winners under a President Kamala Harris after Tuesday night's debate . National polls showed a tight race heading into the debate, but some now believe Harris could get a bump from her performance. "We expect a near-term bounce towards Vice President Harris following the first debate with former President Trump, but the longer-term impact remains unclear," Raymond James Washington analyst Ed Mills said in a note to clients late Tuesday night. Wolfe Research has a similar list of stocks in an anti-Trump trade basket, including health care stocks like Centene and HCA . Of course, it could be difficult for new Democratic policies to become law even with a Harris win in November, depending on how Congressional races shake out.

Persons: Kamala Harris, Donald Trump, Harris, Trump, Raymond James Washington, Ed Mills, Isaac Boltansky, Daniel Clifton, Strategas, Wolfe, — CNBC's Michael Bloom Organizations: Wall Street, Democrat, Walmart, Raytheon Technologies, Wolfe Research, Trump, UBS, Republicans, Democrats, Eaton Corp, Waste Management Locations: Democratic, Ukraine, Russia

☆ Amazon's new budget line of food products suggests things aren't getting better for the American shopper
▼ + stars: | 2024-09-11 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Amazon's new bargain grocery brand suggests shoppers will be pinching pennies for a while. While things aren't worsening significantly for low-income people, they aren't improving quickly. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Walmart, Target, Business

☆ European stocks set for mixed open as markets await U.S. inflation data
▼ + stars: | 2024-09-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Shoppers at a Walmart store in Secaucus, New Jersey, U.S., in March 2024. LONDON — European stocks are expected to open in mixed territory on Wednesday as global markets focus on the latest U.S. inflation data set to be released later in the day. The U.K.'s FTSE index is seen opening 4 points higher at 8,208, Germany's DAX up 25 points at 18,304, France's CAC 40 flat at 7,404 and Italy's FTSE MIB up 66 points at 33,259, according to data from IG. Traders have their eyes on two key economic reports out of the U.S. this week, with the consumer price index report for August due Wednesday, followed by the producer price index on Thursday. The data comes before a widely anticipated interest rate cut at the Federal Reserve's Sept. 17-18 meeting that could help assuage concerns over a weakening U.S. economy.

Persons: Germany's DAX Organizations: Walmart, LONDON, CAC, IG, Traders, Federal Locations: Secaucus , New Jersey, U.S

SKIP AHEAD How I picked the best treatments for dry, cracked heels | Best treatments for dry, cracked heels | What causes dry, cracked heels? Best treatments for dry, cracked heelsBelow, I compiled dermatologist-recommended moisturizing and exfoliating products to help treat dry, cracked heels year-round. Below, our experts highlight a few main causes of dry, cracked heels:Lack of moisture: The primary cause of dry, cracked heels is a lack of moisture or a damaged skin barrier, according to our experts. The primary cause of dry, cracked heels is a lack of moisture or a damaged skin barrier, according to our experts. How to treat dry, cracked heelsWhen it comes to dry heels, prevention is key.

Persons: William Huang, Samer Jaber, Nkem, shea, Aveeno, ”, Annie Chiu, Huang, Chiu, Barry Goldman, Goldman, Jaber, Slough, Duke University’s, keratosis, TikTok Organizations: NBC, Washington Square Dermatology, Derm Institute, Goldman Dermatology, Cream, Walmart, NEA, American Podiatric Medical Association, Duke, Facebook, Twitter Locations: Washington, New York City, Union, California, Eucerin, Jaber, North Redondo Beach , California

The information for the following product(s) has been collected independently by Business Insider: Bank of America Premium Rewards Elite, Bank of America® Premium Rewards® credit card. Introduction to the Bank of America Premium Rewards Elite CardAs a high-end travel rewards card, the Bank of America Premium Rewards Elite offers several ways to earn rewards and solid cardholder benefits. Bank of America Premium Rewards Elite Credit Card Cardholder InsightsMembers of online forums such as Flyertalk and Reddit generally give the Bank of America Premium Rewards Elite card positive reviews. Bank of America Premium Rewards Elite Card ComparisonSeveral premium rewards credit cards compete directly with the Bank of America Premium Rewards Elite card. Bank of America Premium Rewards Elite Frequently Asked QuestionsWhat are the main benefits of the Bank of America Premium Rewards Elite Credit Card?

Persons: —, airfare, you'll, there's, Chase, isn't, You'll, Read, Chase Travel ℠, Chase Sapphire, Uber, Cardholders, Jason Steele, Jason, Guy, he’s Organizations: Business, Bank of America, Bank of, The Bank of America, of America, Bank of America Travel Center, Rewards Bank of America, Merrill, Avis ®, Hertz, American Express, TSA, U.S . Bank of America, Citi, Wells, Bank, America, Diamond, . Bank of America, Global, Chase, Chase Travel, Chase Sapphire, American, Saks Fifth, Uber, Walmart, Delta Sky, Bank of America Preferred, Conference, Credit Card Media, Forbes, USA, Newsweek, Street Journal, CNN, University of Delaware, Colorado ExperienceExperienceEducations Locations: Bank, U.S, —, Colorado

☆ Amazon targets Aldi with a new lineup of ‘no-frills’ groceries
▼ + stars: | 2024-09-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

Amazon is rolling out a new “no-frills” private label brand called Amazon Saver, with most items priced at less than $5 and that include an array of household staples and pantry items such as cookies and crackers and perishable items like sliced turkey and ham. Shoppers at its roughly 50 Amazon Fresh stores and online are getting price cuts on more than 3,000 items. Typically, Prime members get a 10% discount, but now they can get up to 50% off eight to 15 grocery items that change weekly, including fresh produce and meats. And more than 1,200 rotating grocery items from popular brands will be discounted 25%. Prime members will also get an additional 10% off its new lineup of Saver products.

Persons: ”, Neil Saunders, ” Saunders, Sarah Wyeth Organizations: New, New York CNN, Target’s, Amazon, Walmart, Target, Aldi, GlobalData, “, CNN, Shoppers Locations: New York, Aldi

☆ Big Lots files for bankruptcy protection, sells to private equity firm as it promises to keep offering 'extreme bargains'
▼ + stars: | 2024-09-09 | by ( Gabrielle Fonrouge | ) www.nbcnews.com time to read: +4 min

Discount home goods retailer Big Lots filed for bankruptcy protection on Monday after high interest rates and a sluggish housing market slowed demand for its low-priced furniture and decor. As part of its Chapter 11 filing, Big Lots agreed to sell its business to private equity firm Nexus Capital Management for about $760 million, consisting of $2.5 million in cash plus its remaining debt and liabilities, court records show. While discount retailers tend to do well in rough economic cycles, Big Lots primarily caters to lower- and middle-income consumers, who have curbed discretionary spending at a higher rate than their more affluent counterparts. “Big Lots is not always good value for money. A&G Real Estate Partners has been tapped as Big Lots’ real estate advisor, while Nexus will be represented by law firm Kirkland & Ellis.

Persons: Lots, Bruce Thorn, ” Evan Glucoft, ”, Big, Glucoft, Cos, ” Neil Saunders, GlobalData, ” Saunders, Davis Polk, Kirkland, Ellis Organizations: Big, Nexus Capital Management, Walmart, Goods, Guggenheim Securities, Real, Partners

☆ Big Lots files for bankruptcy
▼ + stars: | 2024-09-09 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Big Lots, the beleaguered discount retailer that previously warned it had “substantial doubt” about its survival, has filed for bankruptcy. As part of its Chapter 11 filing, the retailer announced that private equity firm Nexus Capital Management is acquiring “substantially all” of Big Lots stores and business operations. Big Lots blamed several economic factors for its bankruptcy, including high inflation and interest rates. Big Lots is in the process of closing roughly 300 of its 1,400 store across the United States. Big Lots joins a growing list of well-known retailers hitting financial turbulence as customers cut back spending on non-essential items.

Persons: ”, Bruce Thorn, McDonald’s, it’s, Sarah Foss, ” Foss Organizations: New, New York CNN, Nexus Capital Management, Lots, Walmart, Debtwire, CNN Locations: New York, United States

☆ America's shopping spree is over and retailers are facing a new world of cautious consumers
▼ + stars: | 2024-09-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Read previewAmerica's wild, multi-year shopping spree has come to an end — and retailers who got used to Americans dropping cash on just about everything are in a tough spot. US retail sales came in stronger than expected in July, with Americans spending more overall compared to the prior month, according to Census data. Around 40% of consumers said they planned to pare back spending on accessories, home decor, jewelry, and furniture, per McKinsey's survey. We're now back in an environment where good retailers, strong brands that offer compelling value … will benefit," Siegel said. In the meantime, that could mean more pain for retailers, Siegel said, speculating that many were caught by surprise by the shift in consumer sentiment.

Persons: —, Ted Rossman, Rossman, pare, Simeon Siegel, Siegel, We're, SPDR Organizations: Service, Business, McKinsey & Company, Bankrate, Customers, BMO, Challenger, Walmart, Target, San Francisco Fed, Primerica Locations: FactSet

☆ NFL team sales are likely to stall as valuations soar
▼ + stars: | 2024-09-05 | by ( Alex Sherman | ) www.cnbc.com time to read: +10 min

Abbie Parr | Getty Images Sport | Getty ImagesThe Seattle Seahawks may be the next National Football League team to sell. The average NFL team is now worth $6.49 billion, and no team is valued at less than $5.25 billion, according to CNBC's Official 2024 NFL Team Valuations. Seven of the last 10 NFL teams to be sold outperform the S&P 500 on a percentage-gained basis since the sale. Each of the last four NFL team sales has set a new record, showcasing the rise in valuations. WATCH: New England Patriots owner Robert Kraft on new NFL private equity ruleswatch now

Persons: Abbie Parr, Paul Allen, Allen's, Jody, Marc Ganis, Roger Goodell, It's, There's, Neal Pilson, That's, Ganis, —, Daniel Snyder, Josh Harris, Terry Pegula, Kim, Ralph Wilson, David Tepper's, Jerry Richardson, Rob Walton, Pat Bowlen, Virginia Halas McCaskey, George Halas, McCaskey, George McCaskey, They're, Goodell, Curtis Martin, Tracy Gallagher, Gallagher, Robert Kraft, Kraft Organizations: Getty, Seattle Seahawks, National Football League, Former Seahawks, Microsoft, NFL, Disney, National Basketball Association, Netflix, CBS Sports, Pilson Communications, NBA, Washington, Philadelphia 76ers, National Hockey League's New Jersey Devils, Billionaire, Buffalo Bills, Carolina Panthers, Panthers, Walmart, Denver Broncos, Bills, Broncos, Chicago Bears, Bears, The Miami Dolphins, Los Angeles Chargers, Ares Management, Sixth Street Partners, Arctos Partners, Equity, Blackstone, Carlyle Group, Capital Partners, Arta Finance, NHL, Major League Baseball, New England Patriots, CNBC Locations: U.S, Spain, Germany, Brazil

☆ Rising NFL valuations mean massive returns for owners. Here's how good the investment is
▼ + stars: | 2024-09-05 | by ( Michael Ozanian | ) www.cnbc.com time to read: +7 min

watch nowA National Football League team today is a $6.5 billion business. That is the average value of the NFL's 32 franchises, according to CNBC's Official 2024 NFL Team Valuations. Across the past 10 NFL teams to be sold, seven of the 10 outperform the S&P 500 on a percentage-gained basis in the period since the sale. Rising valuationsThe escalation in football team values is largely the result of the league's massive and growing media deals. The typical NFL team has an EBITDA margin of 19%.

Persons: Robert McNair, That's, Peacock, Taylor Swift, Allen J, Tampa Bay's Raymond James, Ryan Flournoy, Matt Hankins, Ron Jenkins, Rob Walton, Josh Harris, Jerry Jones, Jones Organizations: National Football League, Pro, Houston Texans, NFL, Texans, Super, Washington, Denver Broncos —, Miami Dolphins, Comcast, Disney, Paramount, Fox, YouTube, NFL Sunday, Amazon Prime, Thursday, Netflix, CNBC, ESPN, Chicago Bears, Minnesota Vikings, Soldier, Kansas City Chiefs, Los Angeles Times, Getty, Tampa, New England's Gillette, Lincoln Financial, Dolphins, Dallas Cowboys, Los Angeles Chargers, T, Denver Broncos, Tampa Bay Buccaneers, Cowboys, The Cowboys, Dallas Locations: U.S, Chicago, Green Bay ; Wisconsin, Buffalo , New York, New York, Los Angeles, Inglewood , California, Arlington , Texas

☆ Walmart is taking dollar stores’ customers
▼ + stars: | 2024-09-04 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

Dollar Tree also owns the long-struggling Family Dollar chain. While dollar stores once expanded to reach a growing number of financially strapped Americans, they underestimated just how financially strapped many Americans would become. “They missed the fact in tough times the consumer would be looking for consumables.”Meanwhile, Dollar Tree has been weighed down by its purchase of Family Dollar. Earlier this year, Dollar Tree announced that Family Dollar will close more than 900 stores, and it subsequently said it will explore a sale or spinoff of Family Dollar. In previous times of financial stress, Dollar General has seen middle-income and slightly more affluent households trade down into Dollar General to save money.

Persons: Michael Lasser, —, Todd Vasos, Vasos, Mike Creedon, aren’t, “ They’re, ” David D’Arezzo, “, ” Neil Saunders, ” Organizations: New, New York CNN, Walmart, UBS, Dollar General, Dollar, CNN, Target Locations: New York

☆ Dick's Sporting Goods blows past earnings estimates but issues cautious guidance ahead of 2024 election
▼ + stars: | 2024-09-04 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

For fiscal 2024, Dick's is now expecting diluted earnings per share to be between $13.55 and $13.90, up from previous guidance of $13.35 to $13.75 per share. At the midpoint, Dick's only raised its earnings guidance by about 18 cents, even though its fiscal second-quarter earnings came in 54 cents higher than expected. At the low end, Dick's earnings guidance falls a bit short of the $13.79 that analysts had expected, according to LSEG. Dick's maintained its sales guidance of $13.1 billion to $13.2 billion, which also fell flat compared with the $13.24 billion that analysts were looking for, according to LSEG. Dick's is slated to discuss its results with analysts and share more insights on its guidance at 8 a.m.

Persons: Lauren Hobart, Dick's, didn't, Walmart –, there's Organizations: Sporting Goods, LSEG, Target, Walmart, Federal

☆ Dollar Tree shares plunge 22% after discounter cuts full-year forecast
▼ + stars: | 2024-09-04 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

A sign is posted in front of a Dollar Tree and Family Dollar store on March 13, 2024 in Rio Vista, California. Shares of Dollar Tree fell more than 22% on Wednesday after the discounter cut its full-year outlook, citing increasing pressures on middle-income and higher-income customers. Dollar Tree includes two store chains, its namesake, which sells a wide variety of lower-priced items like party supplies, and Family Dollar, which carries more food. At Dollar Tree, same-store sales increased by 1.3% and at Family Dollar, same-store sales fell by 0.1%. Dollar Tree bought Family Dollar for nearly $9 billion in 2015 and since then, it's struggled to strengthen the grocery-focused chain and better compete with Dollar General.

Persons: Jeff Davis, Todd Vasos, Davis, it's, —, Robert Hum Organizations: LSEG, Dollar, Walmart Locations: Rio Vista , California

☆ Soaring sports team values create new pressure for owners on taxes, succession
▼ + stars: | 2024-09-03 | by ( Robert Frank | ) www.cnbc.com time to read: +6 min

Ric Tapia | Getty Images Sport | Getty ImagesSports team owners benefiting from soaring team values are also facing new pressure from two of the oldest certainties in American wealth: death and taxes. With the average age of team owners rising, and team values skyrocketing into the billions, owners and leagues are increasingly focused on how to ensure smooth ownership transitions to the next generation of buyers. Succession and taxes have become especially important in the National Football League, where the average age of team owners is now over 72 and team values are all surging. The average NFL team is now worth $6.49 billion, and no team is valued at less than $5.25 billion, according to CNBC's Official 2024 NFL Team Valuations. So owners have to be planning for the potential for more punitive estate taxes in the coming years.

Persons: Ric Tapia, Stephen Amdur, Pillsbury Winthrop Shaw Pittman, Robert Frank, Pat Bowlen, Rob Walton, Bud Adams, Grant Halverson, Amy Adams Strunk, Tom Benson, Gayle, Jonathan Bachman, Joe Robbie, George " Papa Bear, Halas, George Halas, Amdur, That's, Roger Goodell Organizations: NFL, Los Angeles Rams, Houston Texans, NRG, Getty, Sports, Pillsbury, National Football League, Former Denver Broncos, Tennessee Titans, Minnesota Vikings, Getty Images Tennessee Titans, Longtime New Orleans Saints, National Basketball, New Orleans Pelicans, New, New Orleans Saints, Mercedes, Benz, Miami Dolphins, NBA, Chicago Bears, Bettmann Locations: Houston, Nashville , Tennessee, New Orleans, New Orleans , Louisiana

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