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☆ Walmart Selling Bonobos for $75 Million to Express, WHP
  + stars: | 2023-04-13 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Bonobos started out as an online brand in 2007 and later opened more than 60 stores where consumers could try on clothes. Walmart Inc. is selling Bonobos Inc. for $75 million, a fraction of what it paid for the menswear brand and the latest sign the big-box retailer is unwinding some of its e-commerce plays. Walmart is selling Bonobos to the fashion retailer Express Inc. and the management firm WHP Global, the companies said Thursday. WHP Global will buy Bonobos’s brand for $50 million, while Express will acquire Bonobos’s operating assets and assume the related liabilities of the business for $25 million.
☆ Hasbro Hires Harley-Davidson CFO to Lead Its Finances
  + stars: | 2023-04-12 | by ( Jennifer Williams-Alvarez | Sabela Ojea | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/hasbro-hires-harley-davidson-cfo-to-lead-its-finances-5189b65b
☆ Walgreens Earnings Fall on Fewer Covid Tests, Payroll Investments
  + stars: | 2023-03-28 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Walgreens Boots Alliance Inc. is slowly restoring full operations to its pharmacies, but hundreds continue to operate at reduced hours because of a continuing staff shortage. Company executives said Tuesday that the second-biggest drugstore chain in the U.S. likely won’t return to full regular pharmacy hours through the end of August and that some may remain open for fewer hours based on competition.
☆ Vince McMahon Reimburses WWE for Costs Tied to Sexual-Misconduct Probe
  + stars: | 2023-03-24 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/vince-mcmahon-reimburses-wwe-for-costs-tied-to-sexual-misconduct-probe-d6b27c05
☆ United Airlines Shares Fall as Carrier Warns of First-Quarter Loss
  + stars: | 2023-03-13 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
United Airlines Holdings Inc. shares fell late Monday after the airline operator said it expects to post a loss in the current quarter due to expenses tied to a potential agreement with its pilots union and weaker traveling trends to start the year. The airline operator said in a securities filing that it expects an adjusted per-share loss of between $1 and 60 cents in the first quarter, compared with a previous projection for a profit between 50 cents and $1 a share. Analysts polled by FactSet, meanwhile, were expecting first-quarter earnings of 64 cents a share.
☆ PayPal CFO Blake Jorgensen Steps Down
  + stars: | 2023-03-07 | by ( Sabela Ojea | ) www.wsj.com   time to read: +1 min
PayPal Holdings Inc. Chief Financial Officer Blake Jorgensen has stepped down after a few months in the role. Gabrielle Rabinovitch will remain as PayPal’s acting CFO, the company said Tuesday. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. PREVIEWMr. Jorgensen, who took a medical leave of absence in September after being appointed PayPal’s CFO in August, will continue working with the digital payments giant as a senior adviser through Sept. 15, the company said. He joined PayPal to succeed John Rainey, who left the company to take the CFO role at Walmart Inc.
☆ Airbnb to Cut Recruiting Jobs on Prospects for Slower Growth
  + stars: | 2023-03-04 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Last month, Airbnb warned about taking action to protect its cost structure after recording its first-ever annual profit in 2022. Airbnb Inc. is cutting recruiting roles across its workforce as it expects to grow at a slower pace in 2023, a representative said Friday. The human-resources layoffs come as the company looks to grow its head count between 2% to 4% this year. Airbnb declined to detail how many recruiting employees are losing their jobs. In 2022, the San Francisco-based company, which operates a marketplace offering short-term rentals, increased the size of its global workforce by 11%.
☆ Meta Slashes Price for Quest Pro VR Headset Months After Launch
  + stars: | 2023-03-03 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
With its Quest Pro virtual-reality headsets, Meta Platforms is going after the professional computing market. Meta Platforms Inc. is cutting the prices of its Quest Pro virtual-reality headset months after its launch. Starting Sunday, the social-media giant’s Meta Quest Pro headsets will be priced at $999.99 from $1,499 previously in the U.S. and Canada.
☆ Beyond Meat Narrows Loss; Shares Jump
  + stars: | 2023-02-23 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Beyond Meat says it is making progress on improving its margins and lowering its inventory. Beyond Meat Inc. shrunk its loss in the fourth quarter and saw its stock climb as the plant-based meat maker reported a 21% decline in revenue. Revenue fell to $79.9 million in the last three months of 2022, from $100.7 million for the same period a year earlier. Analysts polled by FactSet expected $75.8 million.
☆ Beyond Meat Narrows Loss; Shares Rise 12%
  + stars: | 2023-02-23 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Beyond Meat says it is making progress on improving its margins and lowering its inventory. Beyond Meat Inc. shrunk its loss in the fourth quarter and saw its stock climb as the plant-based meat maker reported a 21% decline in revenue. Revenue fell to $79.9 million in the last three months of 2022, from $100.7 million for the same period a year earlier. Analysts polled by FactSet expected $75.8 million.
☆ AMD’s Profit Plunges Amid Weaker PC Sales
  + stars: | 2023-02-01 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Advanced Micro Devices Inc. reported Tuesday a 98% decline in net income for the fourth quarter as operating expenses more than doubled and sales linked to its PC clients were cut in half. The Santa Clara, Calif.-based chip maker, whose central processing units are used to build videogame consoles and gaming PCs, said net income for the period fell to $21 million, or 1 cent a share, from $974 million, or 80 cents a share, for the same period a year earlier. The company said the decline was mostly linked to its acquisition of semiconductor company Xilinx Inc.
☆ Amazon, Apple, Alphabet Headline Another Busy Earnings Week
  + stars: | 2023-01-28 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Amazon.com Inc.’s quarterly earnings report this coming week will provide insight on the health of online shopping. Apple Inc., Amazon .com Inc., Meta Platforms Inc. and Alphabet Inc. report earnings in the coming week, four of the many companies providing quarterly updates as layoffs and slowing growth hit the tech industry. Leaders across multiple industries—such as fossil-fuel giant Exxon Mobil Corp., pharmaceutical company Merck & Co., fast-food chain McDonald’s Corp. and construction-equipment giant Caterpillar Inc.—are also scheduled to report their financials in the coming week.
☆ Tesla Plans $3.6 Billion Factory Expansion in Nevada
  + stars: | 2023-01-25 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Since 2014, Tesla has invested $6.2 billion in Nevada and the plant it has built there. Tesla Inc. said it would spend more than $3.6 billion to expand its plant near Reno, Nev., where the electric-vehicle maker assembles batteries and produces EV car components. The Elon Musk-led auto maker said its investment plan would expand its lithium-ion battery and electric-vehicle-component facilities there and employ 3,000 additional workers.
☆ Tesla Eyes $3.6 Billion Factory Expansion
  + stars: | 2023-01-25 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
An aerial view of the Tesla factory in Nevada. Tesla Inc. said it would spend more than $3.6 billion to expand its plant near Reno, Nev., where the electric-vehicle maker assembles batteries and produces EV car components. The Elon Musk-led auto maker said its investment plan would expand its lithium-ion battery and electric-vehicle-component facilities there and employ 3,000 additional workers.
☆ Tesla, Microsoft Are Headlining First Busy Earnings Week of 2023
  + stars: | 2023-01-21 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Microsoft Corp., Tesla Inc. and Johnson & Johnson headline the first busy earnings week of 2023 as investors search for insight into the global economy in the midst of growing concern over a possible recession. Other companies set to issue their latest quarterly reports include the telecom companies AT&T Inc. and Verizon Communications Inc.; Visa Inc. and American Express Co.; and airlines including Southwest Airlines Co.
☆ Peloton to Pay $19 Million Fine Over Treadmill Recall
  + stars: | 2023-01-05 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Peloton Interactive Inc. has agreed to pay a $19.1 million civil penalty tied to the company’s handling of a treadmill recall last year. The exercise-equipment maker reached a settlement with the Consumer Product Safety Commission after the watchdog accused the company of failing to immediately report that its Tread+ machines contained a defect that could cause serious injury.
☆ Nvidia, Foxconn Partner on Electric Vehicles
  + stars: | 2023-01-03 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Nvidia Corp. is now increasingly betting on software and chips that underpin sophisticated driver-assistance systems. Graphics chip maker Nvidia Corp. is partnering with electronics-component maker Foxconn Technology Group on electric vehicles, as both tech companies continue to push into the booming market. The two companies on Tuesday announced the partnership, where Foxconn, a contract manufacturer best known for its work on Apple Inc. products, would produce electronic control units based on Nvidia’s Drive Orin system-on-a-chip, the central computer for intelligent vehicles.
☆ Soaring Egg Prices Lead Nation’s Largest Producer to Record Sales
  + stars: | 2022-12-28 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Cal-Maine Foods says its quarterly sales more than doubled from those of the same period last year. Egg prices have been on the rise as rapid inflation hits grocery store aisles. One company benefiting is Cal-Maine Foods Inc. The largest U.S. egg producer on Wednesday said its quarterly sales more than doubled from those of the same period last year as rapid inflation and the effects from an avian-influenza outbreak pushed prices higher.
☆ Adobe Fourth-Quarter Revenues Up 10% as Demand Remains Strong
  + stars: | 2022-12-15 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Adobe’s earnings report comes as various business software companies indicate customers are more wary about spending due to a challenging economy. Adobe Inc. said fourth-quarter revenue rose 10% on continued strong demand for its software and services. The company on Thursday also issued profit guidance for the current quarter that was better than Wall Street analysts projected. Shares of Adobe, down 42% this year through Thursday’s close, added 5.7% in after-hours trading.
☆ Costco’s Sales Climb 8% as Consumers Seek Discounts
  + stars: | 2022-12-09 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Costco’s store results varied regionally, with sales up more in the U.S. than in Canada. Costco Wholesale Corp. posted an 8% rise in sales in its first quarter as consumers sought discounts on bulk goods amid high inflation. The warehouse retailer, which sells groceries, electronics, furniture and appliances to paying members, reported $54.4 billion in sales for the three months ended Nov. 20, beating analyst expectations of $50.4 billion, according to FactSet.
☆ Costco Sales Growth Cools as Consumers Shift Discretionary Spending
  + stars: | 2022-12-08 | by ( Sarah Nassauer | Sabela Ojea | ) www.wsj.com   time to read: 1 min
Costco’s store results varied regionally, with sales up more in the U.S. than in Canada. Costco Wholesale Corp. sales growth slowed slightly in the most recent quarter compared with recent years as some shoppers bought fewer big-ticket discretionary items. Comparable sales, those from stores of digital channels operating for at least 12 months, rose 7.1% in the quarter ended Nov. 20. That quarterly figure, which excludes currency fluctuations and gasoline sales, hasn’t fallen below 9% over the past two years. Online sales fell 3.7% from the prior year, Costco said.
☆ Macy’s Sales Drop 3.9% Amid Higher Promotions
  + stars: | 2022-11-17 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Macy’s Inc. said third-quarter sales fell 3.9% as the department store chain ramped up promotions ahead of the holiday season. The New York retailer did back its sales view for the year and boosted its adjusted earnings outlook, the latter due to expectations for improved credit card revenue and other items.
☆ Blue Apron Withdraws Revenue Target as It Awaits Funds From Major Shareholder
  + stars: | 2022-11-07 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Blue Apron withdrew its revenue growth target of 7% to 13% for the year. Blue Apron Holdings Inc. on Monday cut its target for fiscal 2022 after the online meal kit company posted lower-than-expected revenue for the third quarter and awaits funds from its largest stockholder. Shares of Blue Apron fell 15% Monday to $1.77 after the company withdrew its revenue growth target of 7% to 13% for the year. The company had forecast revenue growth between $503.3 million and $531.6 million.
☆ Hershey Boosts Guidance After Third-Quarter Sales Rise 13%
  + stars: | 2022-11-04 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Hershey Co. raised its guidance for the year after reporting a 13% rise in third-quarter sales on higher-than-expected demand for its snacks and candy despite raising prices. The maker of Reese’s peanut-butter cups and Twizzlers candy on Friday said higher prices helped it offset higher supply-chain costs and advertising expenses, with the latter aimed at boosting consumer spending on its treats.
☆ Moderna Cuts Outlook Amid Supply Constraints
  + stars: | 2022-11-03 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Moderna said higher costs and a decline in demand for its Omicron-targeting Covid-19 doses hit its performance in its latest quarter. Moderna Inc. said third-quarter revenue fell by nearly a third and cut its outlook as supply constraints sap up to $3 billion in sales this year. The Cambridge, Mass.-based pharmaceutical company on Thursday said higher costs and a decline in demand for its Omicron-targeting Covid-19 doses also hit its performance.
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