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☆ Chipotle says it will raise menu prices because of new California minimum wage
▼ + stars: | 2023-10-26 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

“We are definitely going to pass this on.”A company spokesperson later told CNN that Chipotle hadn’t yet decided whether it will raise prices in California. Gavin Newsom in September signed legislation that raises the minimum wage to $20 an hour for fast food workers, and creates a council that can approve further increases in the future. The state’s current minimum wage is $15.50 an hour and will increase to $16 an hour on January 1. The new hourly wage for fast food workers will take effect on April 1 of next year. But workers have said that the higher minimum wage will make a meaningful difference in their lives.

Persons: New York CNN —, ”, John Hartung, we’ve, Gavin Newsom, Chipotle, Anneisha Williams, Jack, Williams Organizations: New, New York CNN, CNN, California ., California . California Gov, Employees Locations: New York, California, ”, California . California

☆ How McDonald’s Middle East franchises got into a public feud over Israel
▼ + stars: | 2023-10-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

Many McDonald’s operators in the region quickly distanced themselves from the Israeli operator’s actions. “It’s less control.”As the public feud plays out in the Middle East, McDonald’s corporate hasn’t said much about the war. What’s going on with McDonald’s in the Middle EastOnline, McDonald’s operators have made clear that they are independent of each other. “McDonald’s Pakistan is a wholly Pakistani entity owned and managed by SIZA foods,” reads a statement posted by McDonald’s Pakistan on X, formerly Twitter. Nierman suspects that many McDonald’s customers might not be paying too much attention either way.

Persons: McDonald’s, Artur Widak, ”, Andrew Gilman, hasn’t, Michael Seid, ’, Seid, Al Maousherji, ” Gilman, Evan Nierman, ” Nierman Organizations: New, New York CNN, Palestinian Ministry of Health, Hamas, CNN, Food Program, MSA, ‘, McDonald’s, Al, Al Maousherji Catering, Kuwait Red Crescent Society, Universities Locations: New York, Israel, McDonald’s Israel, Kuwait, Pakistan, Gaza, United States, “, McDonald’s Pakistan, McDonald’s Kuwait, Kuwaiti, Palestine, ”

☆ Tyson is investing in insect protein
▼ + stars: | 2023-10-20 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN —Tyson, a major US producer of beef, pork and chicken, is betting on protein that comes from insects. “Today, we’re focused on more of [an] ingredient application with insect protein than we are a consumer application,” said John R. Tyson, chief financial officer of Tyson Foods. A business opportunity“One feature of being in the animal protein business is having to figure out … how to derive value from” waste, Tyson said. Picard helped create the Center for Environmental Sustainability through Insect Farming, a partnership between academia and industry members including Tyson and Protix. “There are more and more startups coming into the space because there’s so much demand for insect protein,” she said.

Persons: New York CNN — Tyson, Tyson, we’re, ”, John R, Kees Aarts, Aleks, hasn’t, Mars, Tyson doesn’t, “, Protix, Christine Johanna Picard, Picard, Kaan Mika, iStockphoto, ” Aarts, Reza Ovissipour Organizations: New, New York CNN, Tyson Foods, Rabobank, Indiana University – Purdue University Indianapolis School of Science, for Environmental Locations: New York, Protix, Netherlands, Springdale , Arkansas, Texas

☆ Taylor Swift's Eras tour movie brought in about $96 million at the box office
▼ + stars: | 2023-10-15 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

In its opening weekend, the pop singer’s concert film, “Taylor Swift: The Eras Tour,” raked in between $95 and $97 million in the box office in the United States and Canada, movie theater chain AMC said Sunday. “I thought I had seen everything with the Barbenheimer phenomenon,” said Paul Dergarabedian, senior media analyst at Comscore, which tracks box office numbers. Teenagers trade bracelets while waiting for the beginning of Taylor Swift's Eras Tour concert movie in a cinema in Mexico City, Mexico October 13, 2023. Discovery, and “Oppenheimer.” Together, the two hits brought in nearly $2.4 billion in global box office sales this year, according to tracking site Box Office Mojo. Barbenheimer and Swift’s concert film “puts movie theaters at the epicenter of the culture as the hub of cultural influence,” said Dergarabedian.

Persons: New York CNN — Taylor Swift, “ Taylor Swift, ”, “ Justin Bieber, ” Elizabeth Frank, Taylor Swift, Chris Day, Swift, Swiftie Clara, seismologist, Sam Wrench, Taylor, Paul Dergarabedian, ” Swift, Alexandre Meneghini, Beyoncé, “ Barbie, “ Oppenheimer, Michael O’Leary, “ Organizations: New, New York CNN, AMC, USA, Ticketmaster, ” AMC, it’s, Twitter, Warner Bros, National Association of Theater Owners, CNN Locations: New York, United States, Canada, Memphis, Tenn, Santa Clara, Northern California, Seattle, Los Angeles, AMC’s, Mexico City, Mexico, The

☆ Why is movie candy sold in boxes?
▼ + stars: | 2023-10-14 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

That last part feels wrong, probably, because at the movies, candy comes in a box. Movie theaters are not the only place to buy boxed candy — you can get boxes of chocolate or candy at some drug stores or online — but even then they’re called theater box candy, a label that undeniably links the package with the movies. A spokesperson for Mars Wrigley, maker of M&M’s and Skittles, made a similar point, noting that candy sold in “boxes in movie theaters is easier to pour and share, compared to traditional packaging, and boxes offer the ability to re-close.” That means less spilling in between seats. The principle is the same for movie theater candy. “Theater boxes take their name from being available in movie theaters or other retail establishments that might have shelving,” he said.

Persons: ”, Keith Domalewski, Mike, Ike, Mars Wrigley, Patti McConville, you’re, Chris Gindlesperger, “, Gindlesperger, ” Gindlesperger, Matthew Staver, Marcia Mogelonsky, It’s, ” Mogelonsky Organizations: New, New York CNN, Mars, National Confectioners Association, Bloomberg, Getty Locations: New York

New York CNN —Starbucks on Wednesday criticized a message by its union about Hamas’ terrorist attack on Israeli civilians. Starbucks Workers United did not respond to CNN’s request for comment. In a separate post on X, SEIU International President Mary Kay Henry wrote that “the violence in Israel and Palestine is unconscionable. In its statement, Starbucks distanced itself from the reported comments. Starbucks unequivocally condemns acts of hate, terrorism and violence,” wrote Sara Kelly, Starbucks’ executive vice president and chief partner officer.

Persons: Mary Kay Henry, “, ” Starbucks, ”, Sara Kelly Organizations: New, New York CNN, Starbucks, Hamas, Starbucks Workers United, Israel, Starbucks Workers, SEIU, ” Workers, Workers United, “, UN, Palestine, Harvard, Harvard Palestine Solidarity Groups Locations: New York, Palestine, Gaza, Israel, @SEIU, United States, Harvard’s

☆ Here’s what got more expensive — and cheaper — at the grocery store
▼ + stars: | 2023-10-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

In the year through September, not adjusted for seasonal swings, grocery prices rose 2.4% — less than inflation overall, which was 3.7%. Food price increases have been easing this year, offering some much-needed relief at the supermarket. In March, grocery prices dipped for the first time since September 2020. What got more expensive this yearIn the year through September, some items still notched high price increases. While grocery prices are moderating, restaurant prices have remained high, rising 6% for the year and 0.4% in September.

Persons: Chipotle, Domino’s Organizations: New, New York CNN, Bureau of Labor Statistics Locations: New York, Ukraine

☆ Chipotle is raising prices again
▼ + stars: | 2023-10-11 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

Chipotle has been raising its prices over the past few years, citing higher costs. In June of 2021, Chipotle said it was raising prices about 3.5% to 4%. So far at Chipotle, the increased prices haven’t scared people off — clearing the way for more expensive burritos. Even companies that have seen customers pull back due to the higher prices reported higher sales, because those higher prices offset volume declines. The snack and beverage company said it increased prices globally by 11% on average, helping nudge revenue higher than analysts’ expectations.

Persons: Chipotle’s, ” Laurie Schalow, Chipotle, “ We’re, ”, Brian Niccol, “ We’ve, ” Niccol, — CNN’s Jordan Valinsky Organizations: New, New York CNN, CNN, PepsiCo, Bureau of Labor Statistics Locations: New York, Chipotle

☆ More Burger King locations could soon look like this
▼ + stars: | 2023-10-10 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

Customers entering Burger King locations will “start to see something different in 2024,” said Tom Curtis, president of Burger King US & Canada. Burger King Company LLCThe new concepts feature digital ordering kiosks, plenty of Whopper branding, and streamlined drive-thru and pickup lanes. Burger King Company LLCNow, it seems, Burger King is trying to push ahead. Globally, including in the US, sales at Burger King restaurants open at least a year grew 10.2%. Burger King Company LLC“We are still not in positive territory,” when it comes to traffic, said Josh Kobza, CEO of Burger King parent company Restaurant Brands International, during an analyst call in August.

Persons: New York CNN — Burger, ”, Tom Curtis, Burger, Curtis, “ we’re, ” Curtis, Burger King, “, It’s, Josh Kobza, ” Kobza Organizations: New, New York CNN, Burger King, Burger King US, Canada, Burger, Burger King Company, Grill, Restaurant Brands, “, CNN Locations: New York, Burger, New Jersey, Las Vegas, North Carolina, Grill Burger, Burger King

☆ Organic? Free range? What do food labels actually mean?
▼ + stars: | 2023-10-07 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +8 min

New York CNN —Navigating the grocery aisle is overwhelming, especially when trying to make sense of food labels. Shoppers who want to know where their food comes from, or how long it will last, have to work even harder. Government agencies have strict guidelines for food safety and nutrition labels on packaged foods. But other information like sell-by dates or animal welfare labels are less regulated — and some are effectively meaningless. Here’s how to know what you’re looking at when you’re reading food labels.

Persons: Scott Olson, “, ”, “ FSIS, Dena Jones, Jones Organizations: New, New York CNN, Nutrition, Shoppers, Government, USDA, ” Companies, Safety, USDA’s Agricultural Research Service, Animal Welfare Institute, Global Animal Partnership Locations: New York, Chicago

☆ With Ozempic on the rise, food companies develop a plan
▼ + stars: | 2023-10-05 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

“If they switch to different types of nutrients … we switch to different types of nutrients,” he said. Drugs like Ozempic could change how people eat, affecting food sellers. Big food companies are constantly evolving their products to adapt to consumer trends. And with wellness top of mind for many — not just people taking semaglutide drugs — companies have already tweaked their products in an effort to appeal to health-conscious consumers. “And then what is the churn rate?” To adapt to a possible shift, companies should be “planning for different scenarios,” she said.

Persons: Sean Connolly, “, ” Connolly, ” Conagra, Duncan Hines, Marie Callender’s, Jaap Arriens, ”, Bernstein, Alexia Howard, ” Howard, John Furner, Morgan Stanley, Pamela Kaufman, Ding Dongs, Mark Smucker, Jody Dushay, “ Dieticians, Deidre McPhillips Organizations: New, New York CNN, Wall Street, Healthy, PepsiCo, Coca, Walmart, Bloomberg, CNN, Companies, Brands, Harvard Medical School Locations: New York

☆ Starbucks is developing climate-proof coffee
▼ + stars: | 2023-10-03 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

New York CNN —Coffee is a finicky crop — arabica coffee, the most popular variety, in particular. Joshua Trujillo/StarbucksSo Starbucks, which says it purchases about 3% of all the world’s coffee, is developing new arabica varietals that are specifically cultivated to hold up better on a warming planet. They, along with other coffee farmers across the globe, are struggling to adapt to global warming. But arabica coffee, the only variety used by Starbucks, is especially at risk. Starbucks has been working on developing new coffee varietals.

Persons: IADB, Joshua Trujillo, Michelle Burns, Carlos Mario Rodriguez, Suzanne Shriner, Shriner, ”, “ we’re, Miguel Gomez, it’s, Monika Firl, Burns, Cornell’s Gomez Organizations: New, New York CNN, Inter, American Development Bank, Starbucks, Lions, Coffee Research, Cornell’s Dyson, Applied Economics, Management, Fairtrade Locations: New York, America, Caribbean, Hacienda Alsacia, Costa Rica, Hawaii

☆ Premarket stocks: Warning signs suggest this year's rally is on shaky legs
▼ + stars: | 2023-09-29 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

It’s too soon to tell, but there are alarm bells ringing that indicate investors should be — and are — on edge. Stocks rebounded this year after a bruising 2022, as artificial intelligence excitement led investors to fuel a powerful tech-driven surge. While shares of tech behemoths have led the market’s surge this year, the rally had begun to broaden out in early summer. High yields often mean bad news for stocks, since investors tend to gravitate toward virtually risk-free Treasury bonds when they offer high returns over stocks. Spending in the second quarter grew at its weakest pace since the first quarter of 2022, when it was flat.

Persons: Stocks, Liz Young, “, ”, bode, Goldman Sachs, Danielle Wiener, Bronner, Hudson, Bryan Mena Organizations: CNN Business, Bell, CNN, Federal Reserve, Nvidia, Apple, Microsoft, Silicon Valley Bank, Signature Bank, Treasury, OPEC, Goldman, New, Girl Scouts Heart, Commerce Locations: Ukraine, New York

☆ Starbucks violated labor law when raising wages for non-union employees, judge finds
▼ + stars: | 2023-09-29 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

New York CNN —Starbucks violated federal labor law when it increased wages and offered new perks and benefits only to non-union employees, a National Labor Relations Board judge found Thursday. The decision is the latest in a series of NLRB rulings finding that Starbucks has violated labor law in its efforts to stop unions from forming in its coffee shops. Last year, Starbucks announced that it would raise wages for non-union employees, and offer them other new benefits. Starbucks should also post a notice in its cafes telling workers that the NLRB found Starbucks had violated federal labor law, and detailing employee rights, she said. Thursday’s decision was “a massive victory for Starbucks workers,” Starbucks Workers United, which has been leading the union charge, said in a statement to CNN.

Persons: “, ”, Mara, Louise Anzalone, Lindsay DeDario, Howard Schultz, Anzalone, Justin Sullivan, Rachel Wall, Bernie Sanders, Schultz, ” Howard Schultz, Anna Moneymaker Organizations: New, New York CNN, National Labor Relations, Starbucks, Reuters, ” Workers, NLRB, CNN, Health, Education, Labor, Getty, Starbucks Workers Locations: New York, Buffalo , New York, ”, San Francisco , California, Dirksen, Washington , DC

New York CNN —California is raising the minimum wage for fast food workers, marking a hard-won victory for those workers and union organizers. The state’s current minimum wage is $15.50 an hour and will increase to $16 an hour on January 1. The new hourly wage for fast food workers will take effect on April 1 of next year. In that period, only the council may set wages for fast food workers. “We are confident that what’s outlined is going to dramatically improve conditions for the state’s half million fast food workers,” Henry said.

Persons: Gavin Newsom, Terry Chea, Newsom, ” Sean Kennedy, Mary Kay Henry, “, ” Henry, Henry, ” Anneisha Williams, Jack, Williams, it’s, “ I’m, …, ” Organizations: New, New York CNN, Service Employees International Union, Employees, California State Capitol, National Restaurant Association, SEIU, CNN Locations: New York, California, Los Angeles , California, Sacramento, Calif

☆ Girl Scout cookies are getting more expensive
▼ + stars: | 2023-09-28 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN —Girl Scout cookies are getting more expensive. But now the higher price will apply to other cookies that the troops sell, including the more classic varieties. Girl Scout cookie prices have been rising from $5 to $6. “Each of our 111 Girl Scout councils sets local Girl Scout Cookie prices based on several factors,” a spokesperson for Girl Scouts of the USA told CNN. But Girl Scouts learned last year that there is a market for higher-priced cookies, thanks to the Raspberry Rally debacle.

Persons: Hudson, John Moore, ” Organizations: New, New York CNN, Girl Scouts Heart, Girl Scouts, Girl Scouts of, USA, CNN, “, ” Troops, Consumers, Thin Mint, eBay Locations: New York, Louisiana, Girl Scouts of Northern California

☆ Department of Labor opens investigation into Perdue, Tyson
▼ + stars: | 2023-09-28 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

Earlier this year, the federal government committed to ratcheting up efforts to root out child labor law violations. “There are currently [Wage and Hour Division] investigations open at Perdue and Tyson Foods,” a Department of Labor spokesperson told CNN. “We are conducting a comprehensive third-party audit of child labor prevention and protection procedures including a compliance audit of contractors,” she said. Government agencies have joined together this year to fight child labor law violations, which often impact migrant children. In February, the Departments of Labor and Health and Human Services jointly announced the creation of a task force designed to fight child labor exploitation.

Persons: Perdue, Tyson, “, Perdue “, Andrea Staub, ” Staub, Josh Hawley, Donnie King, ” Marty Walsh, Walsh, ”, Maruf, Nicole Goodkind Organizations: New, New York CNN, Department of Labor, Tyson Foods, New York Times, Perdue, ”, CNN, Times Magazine, Times, of Labor, Health, Human Services, Packers Sanitation Services, Cargill, Packers Sanitation Locations: New York, Perdue, Virginia, Tyson, Missouri

☆ Burgers and tacos don’t look like they do in ads. Lawsuits are trying to change that
▼ + stars: | 2023-09-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

New York CNN —When it comes to food advertising, what you see is rarely what you get. In the ads, burgers look tall, heaped with meat and cheese, topped with golden, rounded buns. “Under this standard, a court asks whether a reasonable consumer would be misled by the product’s marketing or labeling,” he said. Lawsuits claim that burgers from McDonald's, Burger King and Wendy's don't look as they appear in ads. What you see is not what you getFor Patten, a reasonable consumer is an “average consumer.” The legal system, she said, often expect more from a reasonable consumer than she would from an average one.

Persons: James Kelly, Anthony Russo, Taco Bell, Burger, ”, Tommy Tobin, Perkins Coie, Russo, Kelly, Bonnie Patten, Spencer Sheehan, Sheehan, Katherine Frey, ” Tobin, ” Burger, “, Wendy’s, Wendy's, He’s, Patten, Patten’s, they’re, they’ve Organizations: New, New York CNN, Taco, UCLA Law, Washington Post, Getty, Starbucks, Burger King, Russo, Plaintiffs Locations: New York, Burger

☆ McDonald's raises royalty rates for some franchise operators
▼ + stars: | 2023-09-22 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

New York CNN —For the first time in about 30 years, McDonald’s is increasing its royalty fee for new franchise operators in the US and Canada. Franchises are a key part of McDonald’s business, with roughly 95% of all McDonald’s locations operated by franchise operators. Operators pay a royalty rate to use McDonald’s brand and for access to its expertise. In 2018, McDonald’s franchise operators formed their first-ever advocacy group, the National Owners Association. And while other chains struggle to bring more customers into restaurant locations, McDonald’s is reporting growth in US traffic.

Persons: ”, Justin Sullivan, Joe Erlinger, We’re, Chris Kempczinski, Ian Borden Organizations: New, New York CNN, Getty Images Company, CNN, National Owners Association Locations: New York, Canada

☆ Olive Garden and Cracker Barrel are still seeing a decline in older customers
▼ + stars: | 2023-09-21 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN —Even the unlimited breadsticks at Olive Garden and wooden rocking chairs at Cracker Barrel can’t seem to lure back the baby boomers. Now, some older customers are still staying away, exacerbating a foot traffic problem faced by restaurant chains. Darden Restaurants (DRI), which owns Olive Garden, Longhorn Steakhouse, Cheddar’s Scratch Kitchen and others, noted during an analyst call Thursday that it, too, is seeing declining visits from older customers. The largest of Darden’s franchises by far, Olive Garden is about “more and more and more,” as Cardenas said Thursday. For Cracker Barrel, which has also been trying to attract younger consumers but has traditionally appealed to an older clientele, the pullback from older customers is a bigger deal.

Persons: It’s, …, ”, Sandra Cochran, ” Cochran, Burger, Scott Olson, Raj Vennam, Vennam, Ricardo Cardenas, Darden, ’ ” Cardenas, we’ve, Cardenas, “ Organizations: New, New York CNN, Darden, Olive Garden, Longhorn Locations: New York, Olive, Orlando , Florida, Lebanon , Tennessee

New York CNN —Disney is greatly expanding its investment into theme parks and cruises, the company said Tuesday. The investment comes at a time the company is facing revenue challenges in its streaming services, movie and television assets — almost everywhere but its international theme parks. The theme park, which was announced in 2019, is set to include restaurants, hotels and, of course, rides. It will become the third theme park within the Universal Orlando Resort, stepping up its rivalry with Walt Disney World’s four theme parks. Trouble at homeDisney said Tuesday that it is focused on “expanding and enhancing” its theme parks, in the US and internationally, along with its cruise lines.

Persons: That’s, Walt Disney, Ricardo Ramirez Buxeda, Alicia Stella, didn’t, ”, Josh D’Amaro, Wakanda, Disney, Horacio Villalobos, Corbis, Kevin Lansberry, Bob Iger, ” Iger, Florida Governor Ron DeSantis, “ Disney, Stella Organizations: New, New York CNN, Disney, Disney Parks, SEC, Universal Orlando Resort, Orlando Sentinel, Tribune, Service, Star Wars, Getty, Parks, Walt Disney, Florida Governor Locations: New York, Parks, Orlando , Florida, Orlando, Anaheim , California, Asia, ”, Florida

☆ Coke's latest mystery flavor is AI-generated
▼ + stars: | 2023-09-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

The latest one, Coca-Cola Y3000, fits the bill. Coca-Cola has used its Creations platform, responsible for limited-edition flavors like Y3000, to try to make the brand resonate with younger consumers. Like all Creations drinks, Coca-Cola Y3000 is designed to taste mostly like Coke, with a bit of something else. For the product’s packaging — which appears to allude to a Y2K aesthetic with funky bubbles, pink and blue coloring and a pixelated logo — Coca-Cola used AI-generated images to create a mood board for inspiration. “They’re more engaging and more interesting, demonstrably, than a flavor, a Coke with vanilla or something,” he said.

Persons: it’s “, ”, Rosalía, “ We’re, Oana Vlad, James Quincey, “ Organizations: New, New York CNN, Riot Games, of Legends, CNN Locations: New York, United States, Canada, Dreamworld

☆ Why are all the cool Kit Kats only available internationally?
▼ + stars: | 2023-09-02 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

They create buzz and urgency, which help decades-old brands like Kit Kat stay relevant. A few years later, Rowntree’s renamed the product Kit Kat Chocolate Crisp. Nigel Roddis/ReutersAfter manufacturing and distributing Kit Kat for decades, the British company entered into a deal with Hershey, giving it control over US Kit Kat distribution in 1970. Nostalgic candies, like traditional Kit Kat bars, exert a powerful hold over those who loved them in their childhood, she noted. When people reach for a Kit Kat, they’re reaching for a reliable jolt of sweetness and good feelings, she said.

Persons: Kit, Kit Kat, Kat, Kats, Behrouz Mehri, Nestlé, Lynn Dornblaser, Dornblaser, “, Kit Kat wasn’t, Chocolate Crisp, Rowntree’s, Kat Chocolate Crisp, Rowntree's Kit Kat, Nigel Roddis, Hershey, Kit Kats, Rowntree Mackintosh, Milo Kit Kat, Chris O’Donnell, ”, O’Donnell, it’s, Milo, Kit Kat Japan, Kat Churro, Justin Kukura, Marcia Mogelonsky, they’re Organizations: New, New York CNN, Target, Walmart, Hershey, Getty, Mintel Consulting, Reuters, Nestlé, Lotus, Hershey Company Locations: New York, United States, Japan, AFP, British, Hershey , Pennsylvania, ., Australia, Hershey

☆ Furniture store Mitchell Gold + Bob Williams is shutting down
▼ + stars: | 2023-08-29 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN —Mitchell Gold + Bob Williams, which grew from a small North Carolina-based upholstery maker to a national retail furniture chain, is shuttering operations, citing weak sales and trouble securing financing. Mitchell Gold + Bob Williams is shutting down. Ben Hider/Getty ImagesMitchell Gold and Bob Williams founded their business together in 1989. Furniture stores, especially high-end retailers like Mitchell Gold + Bob Williams, have been struggling as people cut back on home improvement projects and big ticket items. “Shortly after this restructuring, the company’s lender withdrew its support, forcing Mitchell Gold + Bob Williams to cease operations,” the Stephens Group said.

Persons: New York CNN — Mitchell, Bob Williams, Chris Moye, Mitchell, Ben Hider, Ethan Allen, ” Moye, ”, “ Organizations: New, New York CNN, state’s Department of Commerce, Worker, Home Depot, Target, Stephens, CNN, Stephens Group Locations: New York, North Carolina

☆ Best Buy expects tech demand to hit a low this year
▼ + stars: | 2023-08-29 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN —Best Buy expects declining tech sales to hit a low this year before stabilizing, in another sign of consumer caution around discretionary spending and retail purchases. Best Buy expects tech spending to hit a low this year before stabilizing. Bruce Bennett/Getty ImagesFor fiscal year 2024, the company now expects revenue of $43.8 billion to $44.5 billion, instead of $43.8 billion to $45.2 billion as it said in previous guidance. It expects sales at stores, websites and call centers open at least 14 months, known as comparable sales, to decline 4.5% to 6% for the year. In the quarter, comparable sales fell 6.3% domestically, year-over-year.

Persons: ” Corie Barry, ”, Bruce Bennett, Barry, “, — CNN’s Nathaniel Meyersohn, Anna Bahney Organizations: New, New York CNN, Revenue Locations: New York

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