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☆ Democrats say Florida is 'dead for Biden' as his 2024 presidential campaign starts: 'We just need to be realistic'
▼ + stars: | 2023-04-25 | by ( Nicole Gaudiano | Kimberly Leonard | ) www.businessinsider.com time to read: +15 min

"It's like a dead carcass on the side of the road," DeSantis said in April of the Florida Democratic Party. Nearly two decades ago, Florida Democrats were "similarly declared dead, you know, forever, Amen," Schale said, but they rebounded. Wilfredo Lee/AP PhotoDemocrats say they still have spend in FloridaBut it's important for Democrats to still invest campaign resources in Florida, Democratic insiders said. Florida Democratic Party Chair Nikki Fried said the party had no infrastructure and no voter registration drive when she took the helm in February. Joe Raedle/Getty Images, Scott Olson/Getty ImagesBuilding a Democratic benchFried she's optimistic about Florida Democrats' future — and Biden's potential there.

☆ What happens to buybuy BABY with Bed Bath & Beyond planning to go out of business
▼ + stars: | 2023-04-23 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

CNN —America’s leading specialty baby products retailer will shutter its 120 stores, a consequence of parent company Bed Bath & Beyond’s bankruptcy filing on Sunday. “The buybuy BABY business is the one part of the operation that will probably attract interest from buyers,” Saunders said. Bed Bath & Beyond placed some hope in buybuy BABY while it struggled to survive. He joined Bed Bath & Beyond in 2019 from Target, where he was in charge of expanding its private label brands. In its bankruptcy filing, Bed Bath & Beyond said it had $5.2 billion in debt and assets of just $4.4 billion.

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☆ Florida expands Gov. Ron DeSantis' so-called 'Don't Say Gay' law to all grade levels
▼ + stars: | 2023-04-19 | by ( Associated Press | ) www.businessinsider.com time to read: +3 min

Florida's Board of Education approved expanding the rules of the so-called "Don't Say Gay" law through 12th grade. Currently, the state bans lessons on sexual orientation and gender identity from kindergarten through 3rd grade. Ron DeSantis requested expanding the ban as he gears up for an expected presidential run. The current law is also the root of an ongoing feud with Disney, one of the state's largest employers and political donors. DeSantis has directed the chief inspector general to investigate the Disney board's move and vowed to take additional revenge against the company through legislation.

☆ Walmart’s US chief marketing officer stepping down as retailer warns of tough year
▼ + stars: | 2023-04-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Walmart’s chief merchandising officer for its US operations is stepping down from the job as the retailer faces a tougher year ahead, an internal memo shared to US associates Friday said. In a memo viewed by CNN Business, Walmart U.S. CEO John Furner said Redfield wants to spend more time with his family. Redfield held his position at the retailer for a little more than a year, beginning in January 2022. Its strong holiday sales were fueled by groceries. “There are merchants, and then there’s our Chief Merchandising Officer Charles Redfield,” CEO John Furner said in a memo viewed by CNN Business.

☆ Your Income Taxes Are Due. Here’s Who Pays The Most.
▼ + stars: | 2023-04-14 | by ( Laura Saunders | ) www.wsj.com time to read: 1 min

Now that you’ve paid your income taxes or are about to, let’s look at the big picture: Which of these statements is true about 2022 individual income taxes? (A) They’ll provide 35% of federal revenue for the year.

☆ 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.

☆ 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.

☆ Tupperware stock plunges after warning it could go out of business
▼ + stars: | 2023-04-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Tupperware shares fell nearly 40% in early trading Monday following a bleak warning that its future is looking murky. Tupperware said it won’t have enough cash to fund its operations if it doesn’t secure additional money. The company said it is exploring potential layoffs, and it’s reviewing its real estate portfolio for potential money-saving efforts. The New York Stock Exchange also warned that Tupperware’s stock is in danger of being de-listed for not filing a required annual report. Tupperware (TUP) said the entry into Target is part of the brand’s reinvention, which includes plans to grow the business through multiple retail channels and get its products in front of younger consumers who’ve never even heard of Tupperware (TUP) parties.

☆ Old Navy wants to solve a major bugbear of female shoppers by selling more dresses with pockets, as it looks for creative ways to boost sales
▼ + stars: | 2023-04-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Old Navy says it has doubled the number of dresses with pockets in its new collection. One expert said Old Navy also needs to focus on styles and freshness to win over shoppers. Old Navy, which accounts for more than half of Gap Inc's total sales, has seen sales fall in recent years. "However, adding pockets is not a solution for all of Old Navy's woes – which run much deeper than the absence of pockets. Old Navy did not immediately respond to Insider's request for comment asking how many dresses it currently sells that contain pockets.

☆ Beep! The barcode turns 50, who invented it?
▼ + stars: | 2023-04-04 | by ( Dayun Park | ) edition.cnn.com time to read: +4 min

The barcode, that rectangle of thick and thin parallel lines seen on seemingly every grocery product, package, prescription bottle and piece of luggage is turning 50 years old. There’s hardly any products now that don’t use a barcode for identification.”Who got there first? A replica of a package of Wrigley's Juicy Fruit Chewing Gum used in a Smithsonian museum exhibition. The Wall Street Journal, in a 2022 obituary of Collins, gives the nod of inventing the barcode to him. Years later, the Smithsonian had a replica of that Wrigley’s gum installed in a museum exhibition on the history of the barcode.

☆ 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.

☆ Cryptocurrency Tax Guide: What to Know This Tax Season
▼ + stars: | 2023-04-01 | by ( Laura Saunders | ) www.wsj.com time to read: 1 min

The steep drop in cryptocurrency prices in 2022 and the bankruptcies of FTX and other exchanges have added complexity to crypto taxes. Do I have to tell the IRS that I own cryptocurrency? Not always—but crypto owners must answer a pointed question on the front page of the tax return, just below the taxpayer’s name and address.

☆ IRS Refunds Are Smaller as Tax Day Approaches
▼ + stars: | 2023-04-01 | by ( Laura Saunders | ) www.wsj.com time to read: 1 min

With about two weeks to go until Tax Day, more than 80 million Americans, or about half of total taxpayers, have filed their 2022 returns and claimed more than $172 billion in refunds. But total amount refunded is down about 9% from this point last year, according to Internal Revenue Service tax-season data as of March 24. Meanwhile, the average refund is $2,903, down about 11% from the average at this point last year.

☆ How You Can Grab a 0% Tax Rate
▼ + stars: | 2023-03-31 | by ( Laura Saunders | ) www.wsj.com time to read: 1 min

Zero, zip, zilch: The U.S. tax code has a 0% rate on investment income, even for Americans with significant assets. The waning days of this tax-filing season are a good time to think about how to use it in the future. The zero rate isn’t a secret. It has been in effect since 2008, and nearly 11 million filers—about 7%—qualified for it in 2020, according to the latest Internal Revenue Service data. That total included about 34,000 filers earning $1 million or more.

☆ Macy's CEO Jeff Gennette to retire after 40 years at the department store
▼ + stars: | 2023-03-29 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

Macy's CEO Jeff Gennette will retire and step down from his role in February 2024. Gennette has been at the department store chain for 40 years. Jeff Gennette joined Macy's in 1983 as an executive trainee and worked his way up the ranks, becoming CEO in 2017. Macy's said Wednesday that Tony Spring, CEO of Macy's sister company Bloomingdale's, will take over Gennette's role. CFO Adrian Mitchell will add the role of COO to his responsibilities – overseeing stores, tech, and supply chain needs, Macy's said.

☆ Macy's will have a new CEO. He's from Bloomingdale's
▼ + stars: | 2023-03-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

Macy’s (M) CEO Jeff Gennette will retire in 2024, the company announced Wednesday. Gennette, 61, has been Macy’s CEO for seven years. He led the 165-year-old department store chain through the rise of Amazon (AMZN), the Covid-19 pandemic, and industry upheaval. Under Gennette, Macy’s most notably built out its online platform and shifted away from malls. “Thanks to Mr. Gennette, Macy’s isn’t dead or even circling the drain,” GlobalData Retail analyst Neil Saunders said in a note to clients Wednesday.

☆ Cup Noodles' new ramen tastes like a 'classic diner breakfast in a cup'
▼ + stars: | 2023-03-29 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —The high price of eggs and other breakfast staples is forcing some to look for cheaper breakfast alternatives. Aptly titled “Cup Noodles Breakfast,” the meal takes four minutes to cook in the microwave and results in a soup-based ramen that also contains “visible ingredients” of sausage and eggs. "Cup Noodles Breakfast" is on sale at Walmart. The company’s research discovered that eggs, sausage and pancakes were the picks to create the best breakfast combination. Breakfast ramen is Cup Noodles second limited time offering, following the sale of pumpkin spice ramen last fall.

Privately-owned Miki House, like other Japanese companies, is contending with a shrinking workforce, with an estimated shortage of 3.41 million workers by 2030, according to labour policy research group Recruit Works Institute. When Kimura founded Miki House in 1971, Japan had about 2.6 million births a year and was undergoing a rapid economic expansion that prompted parents to splurge on fashionable goods for their youngsters. PRODUCTION SHIFTSJapan's Fast Retailing (9983.T), the nation's biggest clothing seller and owner of bargain brand Uniqlo, manufactures almost all of its products overseas. At Miki House, about 70% of products are still made domestically, but some items, such as children's shoes, cannot be made locally at scale and are manufactured in Vietnam. Demand is shifting too, with about 60% of sales coming from overseas, where Miki House operates 95 stores in 16 countries and regions.

Liontown controls two major lithium deposits in Western Australia, including its flagship Kathleen Valley project slated for first production in mid-2024, which is among the world's largest and highest-grade hard rock lithium deposits. North Carolina-based Albemarle is the world's biggest lithium producer with major facilities in Chile, China and Western Australia where it holds stakes in two mines and is building a lithium hydroxide processing plant near Perth. Albemarle had offered A$2.50 per share after two previous offers, Liontown said in an exchange filing. Albemarle said its "compelling" bid offered a material premium to Liontown shareholders who would benefit from its chemical conversion abilities and existing links with Liontown's customers. Liontown also said RT Lithium Ltd, a subsidiary of Albemarle, had built a near 2.2% stake through on-market purchases.

☆ Everything we know about Chinese app Temu. It sells a weird variety of things for cheap — and has some wondering if it's legit.
▼ + stars: | 2023-03-23 | by ( Grace Dean | Mary Hanbury | ) www.businessinsider.com time to read: +11 min

It's listed as the top free app in both the Google Play store and the Apple App Store, ahead of TikTok, Amazon, and Instagram. These cost savings can then be passed on to the consumer, a spokesperson for Temu told Insider. But for the average North American shopper, such low prices can actually be disconcerting, especially when they don't know much about Temu. A spokesperson for Temu told Insider that it uses its parent company's supply chain and logistics network to ship these items. Read more: I ordered my first 4 items off Chinese e-commerce app Temu and came away annoyed with the dozens of marketing emails sent after making a single purchase

☆ Scranton to Biden: Love ya, Joe. But a 2024 run?
▼ + stars: | 2023-03-22 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +6 min

[1/6] A photograph of Jim Connors, 76, former Mayor of Scranton, with U.S. President Joe Biden hangs in his home in Scranton, Pennsylvania, U.S., March 10, 2023. Despite those strong ties, interviews with about two dozen Scranton voters show many harbor deep concerns about Biden running again. Many Scranton residents say they might back Biden again in 2024, albeit without much enthusiasm. Biden is also supporting a plan to build a new rail line from Scranton to New York City. “So, when I think about President Biden, I don't just think about President Biden being our hometown son," Cognetti said.

☆ Dollar General is luring more shoppers with its cheap groceries — but it might be backfiring
▼ + stars: | 2023-03-16 | by ( Mary Hanbury | Alex Bitter | ) www.businessinsider.com time to read: +4 min

While more people are shopping for groceries at Dollar General, other categories are suffering. Dollar stores, in general, have been gaining market share in the grocery sector as inflation bites and shoppers look for cheaper alternatives. According to a recent report from Coresight Research, Dollar Tree and Dollar General ranked in the top five retailers from which consumers bought food in 2022. Dollar General shoppers are still employed but are "relying more on savings, credit cards, and, quite frankly, borrowing money from friends," Dollar General CEO Jeff Owen said on Thursday during the company's fourth-quarter earnings call. "While Dollar General has been steadily improving the offer ... there is still more work to do to improve the proposition," he said Thursday.

☆ McCormick's red-cap bottles are getting a makeover
▼ + stars: | 2023-03-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —McCormick, the top-selling maker of seasonings and spices, is giving its iconic red-cap bottles their first makeover in more than 40 years. Shoppers will soon see newly designed bottles that feature updated labeling and a new “snap” cap that the company says keeps spices and seasonings fresher compared to its previous design. McCormick’s new sleeker bottles, which have already begun rolling out in the United States, will first contain its most popular herbs and spices, including cinnamon, garlic powder and crushed red pepper. The inside is getting a makeover, too. “This is a winning proposition from top to bottom and we have tons of consumer research to validate that,” she said.

☆ Gap says it's getting rid of some managers as sales slide. One retail expert likens the company to a 'lazy student' unwilling to deliver a 'better performance.'
▼ + stars: | 2023-03-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Gap announced Thursday that it's cutting back on managers to reduce costs. Meta and Twitter have also been cutting management jobs in recent weeks. Gap announced Thursday that it is cutting back on these workers to reduce costs and become more nimble. Neil Saunders of GlobalData Retail told clients this week: "Gap is rather like a lazy student that has the capability but completely lacks the capacity or will to put in the work to deliver a better performance." Gap did not immediately respond to a request for comment from Insider, made outside normal working hours.

☆ Capital-Gains Tax Rates and Tax Brackets
▼ + stars: | 2023-03-03 | by ( Laura Saunders | ) www.wsj.com time to read: 1 min

Investors who have taxable accounts—as opposed to tax-favored retirement accounts such as individual retirement accounts (IRAs) or 401(k)s—are often eligible for lower tax rates on investment income and other benefits. What is capital gain or loss? When an investor sells a holding in a taxable account, the result is a capital gain or loss that is the difference between the investment’s original cost (plus adjustments) and its selling price.

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