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☆ Intel lays off 15% of its staff and its stock tumbles as it struggles to turn around its ailing business
▼ + stars: | 2024-08-01 | by ( Ramishah Maruf | Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Intel is slashing 15% of its staff as part of a $10 billion plan to reduce costs, the tech company announced in its second-quarter earnings Thursday. “Our revenues have not grown as expected — and we’ve yet to fully benefit from powerful trends, like AI. The company is holding out hope that the AI investments will pay off. Intel wants to cut the $10 billion by 2025. Other tech earnings falterAmazon’s sales grew 10% last quarter and its operating profit nearly doubled, the company said Thursday.

Persons: “, Pat Gelsinger, Jacob Bourne, TSMC, ” Neil Saunders Organizations: New, New York CNN, Intel, Qualcomm, Texas Instruments, Nvidia, Apple, GlobalData Locations: New York, “, United States

☆ Starbucks sales tumble as customers reject high-priced coffee
▼ + stars: | 2024-07-30 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

Starbucks sales dropped 3% globally at stores open for at least a year, including a 2% drop in its home North America market. McDonald’s this week reported that sales at stores open at least a year fell 1% last quarter, its first sales decline since 2020. Starbucks also faces increased pressure from rival drive-thru coffee chains – and from people opting to make their morning cup of coffee at home. There’s also more competition from some of the drive-thru coffee chains, like a Dutch Bros,” said RJ Hottovy, an analyst at Placer.ai. Starbucks, using a play from fast food chains, is trying to win back customers with value menus.

Persons: There’s, ”, RJ Hottovy Organizations: New, New York CNN, Consumers, Starbucks, North, Bros, Placer.ai Locations: New York, North America

☆ Lululemon pulls new leggings line after complaints about ‘whale tail’
▼ + stars: | 2024-07-30 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

But after its new leggings became the butt of endless jokes, the company will have to leave them behind. I’m not sure what’s going on over there, but that’s not very cute.” The customer said she is returning the leggings. “I also am not a huge fan of the butt seam. In a statement to CNN, a Lululemon spokesperson said it takes customer feedback seriously and will incorporate it into future designs. Earlier this year, Lululemon said it missed out on some sales because it did not stock as many different colors of leggings as customers wanted.

Persons: New York CNN —, Lululemon, Reddit, “, TikTok, ”, JP Morgan, Matthew Boss, Boss, Alo, Vuori Organizations: New, New York CNN, CNN Locations: New York

☆ Big Tobacco’s viral hit may be its biggest success since cigarettes
▼ + stars: | 2024-07-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

While it’s ultimately owned by tobacco giant Philip Morris International, Zyn is a tobacco-free product. Unlike traditional chewing tobacco, you don’t have to chew the pouches or spit the build-up of tobacco juice. ‘Zynfluencers’Zyn users like Danny Whalen, 26, switched to nicotine pouches last year after 10 years of chewing tobacco. (Philip Morris International told CNN it only advertises at events with an adult audience of over 85%.) Philip Morris International, which split from Phillip Morris USA, does not sell cigarettes in the United States.

Persons: Philip Morris, Bing Guan, Zyn, Phillip Morris, ” — Phillip Morris, Danny Whalen, Whalen, doesn’t, ” Whalen, “, —, Tucker Carlson, Joe Rogan, Logan Paul, “ ZYN, “ Zyn, ”, Pamela Ling, ” Phillip Morris, Ling, ” Ling Organizations: New, New York CNN, it’s, Philip Morris International, Bloomberg, Getty, Phillip Morris International, ” — Phillip Morris International, Rutgers Institute, Tobacco Studies, Rutgers, Boys, Spotify, CNN, Facebook, ESPN, Beale, Music, Pickleball, Center for Tobacco Control Research, Education, University of California San, ” Phillip Morris International, National Cancer Institute, Phillip Morris USA Locations: New York, United States, Aurora , Colorado, TikTok, University of California San Francisco

☆ Why Southwest just broke its 50-year boarding tradition
▼ + stars: | 2024-07-26 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

Open seating helped Southwest load and unload passengers, which Southwest CEO Bob Jordan said meant more on-time departures and cost savings on Thursday’s earnings call. Even as other airlines switched to assigned seats in recent decades, Southwest kept its boarding process the same. ‘Sad day’Some loyal Southwest customers vented their frustration about the policy change on social media. She worries she will have to pay extra for her traditional A-group seats as Southwest moves to assigned seats. But activist pressure did not factor into the company’s move to assigned seats, Southwest CEO Jordan said on the earnings call.

Persons: Herb Kelleher, —, you’ve, William Thomas Cain, Bob Jordan, Gary Kelly, ” “, ”, Sandy Wolfe, “, Wolfe, Jordan, William McGee Organizations: New, New York CNN, Southwest Airlines, Southwest, “, CNN, Elliot Investment Management, United, Delta, American Economic Liberties Locations: New York, Dallas, Houston, San Antonio, Southwest, here’s, ‘, American, United States

☆ Chipotle’s CEO weighs in on the burrito bowl portion size debate
▼ + stars: | 2024-07-24 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Customers on social media have been furious with Chipotle for allegedly skimping on its burrito bowl portions this year. “First, there was never a directive to provide less to our customers,” CEO Brian Niccol said during an earnings call Wednesday. In June, a Wells Fargo analyst ordered and weighed 75 Chipotle burrito bowls with white rice, black beans, chicken, pico de gallo, cheese and lettuce across eight Chipotle locations in New York City. The bowls weighed roughly the same for in-store orders and online orders, but some locations served bowls that weighed 33% more than other locations. Some burrito bowls went to extremes, with one topping out at 27 ounces in one location, and a meager 14 ounces in another.

Persons: Chipotle, Brian Niccol, ” Niccol, pico de, ” Niccols, Nathaniel Meyersohn Organizations: New, New York CNN Locations: New York, Wells, New York City

☆ Red Lobster may soon have a new owner
▼ + stars: | 2024-07-24 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Two months after filing for bankruptcy, Red Lobster is close to emerging with a new owner. Fortress is one of Red Lobster’s largest lenders and has financed the restaurant chain’s operations, including a new $100 million loan that allowed Red Lobster to stay afloat during its bankruptcy proceedings. Red Lobster has closed around 100 restaurants in recent months and has said it wants to close several dozen more locations. Mismanagement, competition, inflation and other factors brought down Red Lobster, which has been a pioneer in the restaurant industry. Red Lobster cut costs, removed longtime suppliers and implemented strategies that backfired, such as making $20 endless shrimp a permanent menu item.

Persons: Krystal, Logan’s Organizations: New, New York CNN, Fortress Credit Corp, Thai Union’s, CNN, Thai Union, Union Locations: New York, Thai Union, Thai

☆ A major shift at Starbucks has changed its personality
▼ + stars: | 2024-07-19 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Employees who brewed and served Starbucks coffee, whom Starbucks called baristas, handwrote customers’ names on their drink orders. But Starbucks’ business has transformed, and it has struggled to maintain its identity as that third place along the way. In some stores, customers complained online that Starbucks pulled out comfortable chairs and replaced them with hard wooden stools. Mobile ordering was another major step in Starbucks’ road to becoming primarily a take-away business. Starbucks also is opening 2,000 new stores, including traditional Starbucks locations, pick-up stores, delivery-only stores and drive thru-only locations.

Persons: Howard Schultz, ” Schultz, “, Stephen Brashear, Michelle Eisen, ”, ” Eisen, Laxman Narasimhan, — it’s, Schultz, Tim Boyle, Wall, Tom Cook, Casey, “ It’s, Cook, ” ‘, Michael Casey, Alex Wong, Joe Pine, Eisen Organizations: New, New York CNN, Starbucks ., Starbucks, Employees, Getty, Starbucks Workers, LinkedIn, Mobile, Horizons, Harvard Business Locations: New York, America, Buffalo , New York, United States, North America, U.S, Newsmakers, Buffalo

☆ Macy’s rejected a takeover offer and is betting on itself
▼ + stars: | 2024-07-15 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Macy’s management ended talks with private investors attempting to take over the company and will pursue its own turnaround strategy to remake the chain. The investors planned to take Macy’s private and consider spinning off its real estate assets or separating its online operations from brick-and-mortar stores. But Macy’s rejected a previous offer to buy the company at $21 a share in January. In March, the investors upped its offer to $24 a share, and Macy’s agreed to enter into talks about the bid. Macy’s will instead stick with its own strategy, led by new CEO Tony Spring, which includes closing underperforming Macy’s stores and investing in its luxury Bloomingdale’s and Bluemercury chains.

Persons: Macy’s, Tony Spring, Neil Saunders, ”, –, CNN’s Chris Isidore Organizations: New, New York CNN, Arkhouse Management, Brigade Capital Management, Investor, Sears, Walmart, Target Locations: New York

☆ Dollar General has 48 hours to make its stores safer or it will face big fines
▼ + stars: | 2024-07-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

Dollar General will also reduce merchandise levels in stores to prevent blocked fire exits. The agreement also requires Dollar General to correct any safety violations related to blocked exits or access to fire extinguishers and electrical panels within 48 hours. Dollar General could face fines up to $500,000 per violation. Last year, the Labor Department agreed to a settlement with Dollar Tree to improve worker safety in stores. Dollar General is the fastest-growing retailer in the United States, with more than 19,000 small stores.

Persons: ” Douglas Parker Organizations: New, New York CNN —, Department of Labor, Labor Department, Department of, Safety, Health, Walmart, Target Locations: New York, United States

☆ Tractor Supply warned climate change and a lack of diversity would hurt business. Now it’s ignoring those risks
▼ + stars: | 2024-07-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Hal Lawton, the chief executive of the Brentwood, Tennessee-based company, had said these initiatives “make great business sense for Tractor Supply.”But Tractor Supply has decided that all of those risks are now worth ignoring. By walking away from diversity and climate goals, Tractor Supply has become the latest corporate giant to retreat from progressive initiatives it once promoted, joining Bud Light, Target and others. Tractor Supply declined to comment on these statements. Tractor Supply’s customer base has historically been primarily older men, who lean Republican, but Tractor Supply has increasingly tried to draw Millennials and women, who tend to favor Democrats. Tractor Supply’s reversal could hurt it with these customers, who could be crucial as the company’s historic base ages out of the market.

Persons: Hal Lawton, Bud, ”, Nooshin Warren, “ They’re, ” John Boyd, Steve Helber, Robby Starbuck, “, It’s, ” Boyd, Donald Trump, Joe Biden, ” Lawton, ” Eric Bloem, George Floyd, Bill Ackman, Elon Musk, They’ve, Chick, Bud Light, Jeff Chiu, Bud Light’s, influencer Dylan Mulvaney, CNN’s Eva Rothenberg Organizations: New, New York CNN, Tractor Supply, Supply, Human Rights, Bud Light, University of Arizona, National Black Farmers Association, AP Tractor Supply, Human, Tennessee’s, Congressional District, ”, Black Farmers Association, CNN, “, Tractor, Republican, Pew, Democratic, Disney, Nike, Anheuser, Busch InBev, Target Locations: New York, Brentwood , Tennessee, United States, America, Minneapolis

☆ Wall Street thinks the US economy is getting back to normal. The election could change that
▼ + stars: | 2024-07-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —New data shows weakening in the US economy – Friday’s jobs report showed that unemployment ticked up to 4.1% in June. Inflation is easing, and so is economic growth – that combination means interest rate cuts could be on their way. Before the Bell spoke with Michael Reynolds, vice president of investment strategy at Glenmede, about investors, the economy and political landscape. We recognize that to have a thesis on the economy is to have a thesis on the consumer. The global market value for adult diapers was pegged at $12.8 billion in 2023, according to market research provider Euromonitor International.

Persons: Joe Biden, Bell, Michael Reynolds, we’ve, there’s, That’s, We’ve, Fumio Kishida, Read, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN, Nasdaq, Federal, DC, Traders, Fed, Federal Reserve, United Nations, UN, Euromonitor, Oji Holdings, Flags Locations: New York, Japan, China, Indonesia, Malaysia, United States

☆ These two amusement park giants just merged. Rollercoaster fans are nervous
▼ + stars: | 2024-07-06 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

New York CNN —Six Flags this week completed an $8 billion merger with rival Cedar Fair to create the largest amusement park operator in the United States. The success of the deal will determine the future of these amusement parks, and diehard rollercoaster fans are watching carefully. Many amusement park fans are passionate about the parks’ design and history and notice the smallest of changes. He also worries the “beautiful” Cedar Fair parks will lose their distinct identities and become more like Six Flags. Halloween has become a primary visiting time for theme park fans, and there could be changes to these events.

Persons: Knott's Berry, Allen J, ”, Bill Kneass, Kneass, they’re, Chris Miller, Stan, Gary Rhodes, Richard Zimmerman ., Selim Bassoul, Berry, Matt Kaiser, “, There’s, Dennis Speigel, Chris Woronka, Looney, Michael Musil Organizations: New, New York CNN, Flags, Cedar Fair, Los Angeles Times, Six Flags Entertainment Corp, Disney, Universal, Six, Fair, Six Flags, Kmart, Walmart, Facebook, Park, Deutsche Bank, Warner Bros, Discovery, DC Comics, CNN, Warner Bros . Locations: New York, United States, California, New Jersey, Sandusky , Ohio, Buena Park , California, Bay Village , Ohio

☆ Saks Fifth Avenue is buying Neiman Marcus with Amazon’s help
▼ + stars: | 2024-07-05 | by ( Nathaniel Meyersohn | Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Saks Fifth Avenue and Neiman Marcus are merging to create a luxury department store empire. “We’re thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman,” said HBC CEO Richard Baker in a release. Saks has 39 stores, while Neiman Marcus, which filed for bankruptcy in 2020, has 36 stores. Neiman Marcus also owns Bergdorf Goodman. Both of them will report to Baker, who becomes the executive chairman of Saks Global.

Persons: New York CNN —, Neiman Marcus, Bergdorf Goodman, “ We’re, ”, Richard Baker, Marc Metrick, Ian Putnam, Baker, Louis Vuitton, Michael Kors, ” Neil Saunders, “, Amazon, Saunders Organizations: New, New York CNN, New York CNN — Saks Fifth, Saks, HBC, Saks Fifth, Saks Global, HBC Properties, Canadian, Brands, Neiman, Capri, GlobalData, Federal Trade Commission, FTC Locations: New York, Hudson’s, Glendale , California, Columbus , Ohio

☆ American Express is taking control of restaurant reservations
▼ + stars: | 2024-07-01 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Trying to get a table at a buzzy new restaurant in New York or Los Angeles? American Express already owns Resy, a rival restaurant booking app, and gives special table access to Amex customers that are not available to other customers. But experts say that Amex’s acquisition gives the credit card company more control over velvet rope access to dinner — and who is shut out. It may help restaurants attract Amex customers with deeper wallets, said Alex Susskind, a professor of food and beverage management at Cornell University. Restaurant owners and merchants have also complained about the fees credit card companies charge businesses, and it could open a new door for fees.

Persons: you’re, Rajesh Bhardwaj, Amex, —, ’ “, ” Joseph Nunes, Alex Susskind, ” Organizations: New, New York CNN, American Express, American, Delta SkyMiles Reserve, University of Southern, Cornell University Locations: New York, Los Angeles, New York City, United States, Resy, University of Southern California

☆ Drug store chains pushed out independent pharmacies. Here’s why they’re now closing too
▼ + stars: | 2024-06-28 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

The latest closures are part of a larger downturn, not just for Walgreens, but for other drug store chains, too, after years of expansion. Shifting trendsDrug store chains are struggling because of falling reimbursement rates for prescription drugs, according to analysts who cover the industry. But their profits from that business have dropped in recent years because of lower reimbursement rates for prescription drugs and higher fees. Dollar General’s growth has also hurt drug store chains in rural areas. When pharmacies close, some patients have to travel farther to get the medications they need.

Persons: Walgreens, Tim Wentworth, “, ” Wentworth, Elizabeth Anderson, PBMs, ” Anderson, VIllageMD Organizations: New, New York CNN, Walgreens, Wall Street, CVS, IRI, Amazon, Walmart, Costco, American Medical Association Locations: New York, United States, VillageMD

☆ Walgreens will close a ‘significant’ number of its 8,600 US locations
▼ + stars: | 2024-06-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Walgreens is set to close a substantial number of its roughly 8,600 locations across the United States as the company looks to reset the struggling pharmaceutical chain’s business. The company didn’t announce a specific number of store closures, but it said Thursday that it is planning “significant” closures of underperforming stores across America as part of a multiyear optimization program. The closures would focus on locations that aren’t profitable, too close to each other or stores struggling with theft, Wentworth told the Journal. Major drugstore chains, including CVS (CVS) and Rite Aid, have struggled in recent years because of declining profits from filling prescriptions. Wentworth told the Journal it’s losing money on filling those prescriptions.

Persons: Tim Wentworth, Wentworth, “, ” Wentworth, ” Neil Saunders, GlobalData, ” Saunders, drugstores, hasn’t, – CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, Walgreens, Wall Street Journal, Journal, Walgreens ’, CVS, Rite, Amazon, Target, Rite Aid Locations: New York, United States, America, drugstores, VillageMD

☆ The forgotten racial history of Red Lobster
▼ + stars: | 2024-06-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

“Red Lobster cultivated Black customers. Red Lobster did not respond to CNN’s request for comment on current customer demographics. Red Lobster was not a “place we frequented a whole lot” in its early days, said Harold Dwight, who graduated two years after Boatwright in 1968. Red Lobster later named one of its signature dishes after King: “Walt’s Favorite Shrimp.” King died last year. Red Lobster brought the “outdoor fried fish experience” indoors, Autry said.

Persons: Clarence Otis Jr, Otis, Mardeio Cannon, ” Clarence Otis Jr, Phelan M, Red, Chris Rock, Nicki Minaj, Minaj, “, Jimmy Fallon, Beyoncé, Hurricane, Marcia Chatelain, ”, Bill Darden, Darden, Beverly Boatwright, Harold Dwight, Dwight, Darden’s, Waycross , Georgia —, ” “, Jim Crow ”, John Fluker, Horace Thomas, Walter King, ” King, “ They’ve, we’ve, Michael Nagle, Robyn Autry, Autry Organizations: New, New York CNN, Red Lobster, Darden, CNN, Sacramento Observer, Darden Restaurants, University of Pennsylvania, Civil, Lakeland, NAACP, Bloomberg, Getty, Wesleyan University Locations: New York, America, Black America, McDonald’s, Lakeland , Florida, Lakeland, Waycross , Georgia, Okefenokee, Waycross, Georgia

☆ Champion sportswear sold in deal worth up to $1.5 billion
▼ + stars: | 2024-06-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

New York CNN —Champion, the more than century-old sportswear brand, has a new owner. Hanesbrands announced Wednesday that it will sell Champion to Authentic Brands Group in a deal worth up to $1.5 billion with performance incentives. Many consumers have pulled back on discretionary clothing, a trend that has hurt Champion’s rivals such as Nike and Under Armour. Champion had made an exclusive C-9 Champion line for Target for around 15 years, but the contract expired in early 2020 as Target focused more on its own private-label brands. The company then started selling the C-9 line on Amazon.

Persons: Hanes, Hanesbrands, “ Organizations: New, New York CNN —, Authentic Brands, Reebok, Nike, Target Locations: New York, Millennials, United States

☆ TJ Maxx store workers are wearing body cameras to deter shoplifters
▼ + stars: | 2024-06-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

New York CNN —Hourly retail security workers are now wearing police-like body cameras at major stores. The manufacturer of Taser devices and other security companies are now designing and marketing body cameras specifically for retail workers. “Body cameras are just one of the many ways that we work to support a safe store environment,” the spokesperson said. Bakery chain Greggs gave employees body cameras after a rise in sausage roll thefts and threats from customers. Applebaum also expressed concerns about the information the body cameras are collecting and whether it could be used to stymie union organizing attempts.

Persons: TJ Maxx, John Klinger, “, they’re, ”, TJX isn’t, TJX, Joshua Isner, John Eck, shoplifters, They’re, Ernesto Lopez, Thaddeus Johnson, ” Stuart Applebaum, “ it’s, Applebaum, CNN’s Curt Devine Organizations: New, New York CNN, Marshalls, National Retail Federation, Tesco, CNN, University of Cincinnati, Criminal, Wholesale, Department Store Union Locations: New York, HomeGoods, Florida, Miami Beach

☆ Walmart starts bonus program for hourly workers
▼ + stars: | 2024-06-05 | by ( Chris Isidore | ) edition.cnn.com time to read: +1 min

New York CNN —Walmart, America’s largest private-sector employer, is starting a bonus program for its hourly employees. Walmart has an outsized impact on the labor market for hourly workers , and has been grappling with finding and retaining the workers it needs in a tight labor market. The company has 1.6 million US employees, of which nearly 1.5 million are hourly workers. It said this new program covers about 700,000 of those hourly employees who work in stores. Walmart boosted the average pay of its store managers from $117,000 to $128,000, or by just over 9%, the retailer announced earlier this year.

Persons: – CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, Walmart Locations: New York

☆ Dollar Tree explores a sale of Family Dollar
▼ + stars: | 2024-06-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: 1 min

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☆ Costco’s $1.50 hot dog price is ‘safe’
▼ + stars: | 2024-05-31 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Costco’s new chief financial officer has a reassuring message for inflation-weary customers: don’t worry about the price of the $1.50 hot dog-soda combo. “To clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe,” Costco CFO Gary Millerchip said on an earnings call with analysts Thursday. With Costco’s leadership change — and other longtime deals like Trader Joe’s 19-cent bananas and Planet Fitness’ $10 membership ending amid rising inflation — some had speculated about the future of Costco’s $1.50 hot dog. If Costco’s hot dog deal kept pace with inflation, it would be three times as expensive today — nearly $4.50. The $1.50 hot dog is a powerful marketing tool for Costco and is synonymous with Costco’s brand.

Persons: New York CNN —, Gary Millerchip, Richard Galanti, ”, Jim Sinegal, “, ” Sinegal, Craig Jelinek, ” Millerchip Organizations: New, New York CNN, Costco, Walmart, Target, ” Costco, Seattle Times Locations: New York

☆ Costco's new CFO says $1.50 hot dog and soda combo is here to stay
▼ + stars: | 2024-05-31 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Same old hot dog. Just two months into his tenure, Costco's new finance chief Gary Millerchip has provided an update on the price of the chain's iconic $1.50 hot dog and soda combo. Speaking to CNN's Nathaniel Meyersohn, Millerchip said the price will be staying at the same place it has been since 1995. "I also want to confirm the $1.50 hot dog price is safe," he reportedly said. "Some businesses that are doing well with margin ... those things help us be more aggressive in other areas, or, as you mentioned, hold the price on the hot dog and the soda a little longer — forever," he said.

Persons: Gary Millerchip, CNN's Nathaniel Meyersohn, Millerchip, Millerchip's, Richard Galanti, I'm, Galanti Organizations: Bloomberg, Costco, CNBC

☆ Big oil shareholders could get a lot richer
▼ + stars: | 2024-05-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Big oil just got bigger, and shareholders could soon be getting richer. Dollar Tree will reopen these stores with its own products under its brand beginning in the fall, reports my colleague Nathaniel Meyersohn. Dollar Tree, a national company with mostly suburban locations, primarily offers discretionary merchandise like party supplies and home goods. Dollar Tree also owns Family Dollar, based mostly in cities. Family Dollar has underperformed Dollar Tree and other discount chains in recent years, and it’s closing 975 stores.

Persons: Stewart Glickman, ”, “ it’s, Stewart, Hess, McDonald’s, Joe Erlinger, “, Danielle Wiener, Bronner, they’re, Chris Kempczinski, ” Read, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN, ConocoPhillips, Marathon, Diamondback, Endeavor Energy Partners, “, McDonald’s, America, Mac, ” Locations: New York, multibillion, McDonald’s USA, U.S, Arizona , California , Nevada, Texas, Virginia, West Coast

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