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Ikea revenue falls after it lowered prices
  + stars: | 2024-10-10 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +1 min
New York CNN —Last year, Ikea slashed prices on roughly 2,000 products to give inflation-weary customers a break. Ikea, the world’s largest furniture retailer, said that it doesn’t have any regrets about prioritizing “lowering the prices” in a $2 billion discount initiative at all of its stores globally. Like its rivals, Ikea gradually hiked prices since the peak of Covid-19 in 2020 as the costs of materials and transport rose. The company’s major discount program last year cut prices on several of its most popular items, like its Billy bookcase. Ikea sold 1.2 billion meatballs for the year, with a company spokesperson telling CNN that it also sold more meals at its cafés.
Persons: Jesper Brodin, Billy bookcase Organizations: New, New York CNN, Ikea, Ikea’s, CNN Locations: New York, Swedish
New York CNN —“Mtn Dew” is getting a makeover, with the word “mountain” reappearing on cans and bottles following a roughly two-decade-long hiatus. “Mountain Dew appears ready to shake off the adrenaline rush that has defined the brand’s marketing for almost two decades, when a key strategy was to market Dew like an energy drink to an energy drink crowd,” Duane Stanford, editor and publisher of Beverage Digest, told CNN. A major change in marketing is essential for Mountain Dew. The new look for Mountain Dew is more about an “evolution and nurturing that we wanted to give to this beloved franchise,” said JP Bittencourt, vice president of marketing at Mountain Dew. “This design has been in the works for some time, so this is not a response to anybody.”A rebrand could also attract drinkers that have perhaps forgotten about Mountain Dew.
Persons: ” Duane Stanford, Spelling, , Mauro Porcini, Porcini, ” Porcini, Stanford, Ramon Laguarta, ” —, Bittencourt Organizations: New, New York CNN —, Mtn, PepsiCo, CNN, Beverage Digest, Mist, Dew, Rockstar Energy Locations: New York, North America, Tennessee Smoky
New York CNN —Melinda French Gates is shedding more light on her $1 billion plan to promote women’s rights, announcing Wednesday a new $250 million fund to improve women’s mental and physical health. The billionaire philanthropist launched “Action for Women’s Health”, a fund through her organization Pivotal Ventures. Its webpage says that “women’s health has been underfunded, overlooked, and misunderstood” and that health inequities between men and women “not only impact women’s daily lives, but they can also hurt women’s futures.”“It’s clear we need to do a better job of addressing the barriers to women’s health. “We’re seeing the devastating impacts” of Roe v. Wade, the landmark 1973 abortion rights case, being overturned, French Gates told the publication. Harris, the Democratic nominee for US president, has been vocal about women’s reproductive rights.
Persons: Melinda French Gates, , Gates, Dobbs, , Roe, Wade, Kamala Harris, Harris, Melinda Gates, Bill Gates Organizations: New, New York CNN, Women’s Health, Ventures, New York Times, Bloomberg, CBS, Democratic, Melinda Gates Foundation Locations: New York
New York CNN —When the latest spooky season passes, it won’t mark the end for some Spirit Halloween stores, with the chain planning to convert some locations and keep them open for the holidays. The retailer is opening a total of 10 Spirit Christmas stores, primarily in the US Northeast, filled with the winter holidays-themed items including gifts, decorations and inflatables. The pop-up chain will be a mixture of some converted Spirit Halloween stores and new locations. This year, Spirit Halloween opened a record 1,525 stores in the United States and Canada. The winter holidays are even a bigger business for Spirit Halloween to tap into: Last year, spending across the country grew nearly 4% to a record $964 billion, the NRF said.
Persons: Santa, , , Spencer Organizations: New, New York CNN, CNN, National Retail Federation Locations: New York, , New Jersey, United States, Canada
New York CNN —The cost of a Mega Millions ticket is more than doubling, but the multi-state lottery game is promising that the bigger price comes with better odds. It’s the second time the price of a ticket has increased in Mega Millions’ 22-year history: In 2017, the price jumped from $1 to $2 — the same cost of a Powerball ticket. That’s also when Mega Millions adopted its current format of choosing six total numbers from two different pools – and when all the numbers match, including the gold Mega Ball, the player wins the jackpot. Mega Millions said that the increased ticket price will cause larger-starting jackpots, as well as faster-growing jackpots. Mega Millions is available to play in 45 states plus Washington, DC, and the US Virgin Islands.
Persons: It’s, That’s, , Joshua Johnston Organizations: New, New York CNN, Mega, Mega Millions Consortium, Virgin Islands Locations: New York, Florida, Washington, Virgin
Costco is now selling platinum bars for $1,089
  + stars: | 2024-10-03 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +1 min
New York CNN —Costco is expanding the collection of precious metals it sells, with the addition of platinum. platinum bars for $1,089.99 on its website, but a Costco membership is required for purchase. Costco is trying to replicate its recent success with gold bars, with platinum joining the extensive list of precious metals that collectors are snapping up at the retailer. In 2023, it began selling gold bars and sold more than $100 million worth of the bars during the first quarter of that year, the company said in its earnings report. After all, not many people are actually stashing away gold bars in their homes.
Persons: Lady Fortuna, , Organizations: New, New York CNN, Costco Locations: New York
New York CNN —Tesla is recalling roughly 27,000 Cybertrucks because of a rearview camera issue that delays the image being displayed on the dashboard, increasing the risk of a crash. The rearview display might appear blank for up to 8 seconds when the Cybertruck is put in reverse, according to a filing from the National Highway Traffic Safety Administration (NHTSA). Tesla has released a free, over-the-air software update to fix the issue. In January, Tesla issued a software recall for 2.2 million of its vehicles, including Cybertrucks, because letters on warning lights were too small to easily read. Tesla this week reported an increase in sales for the first time this year, although its year-to-date sales still trail the same period in 2023.
Persons: New York CNN — Tesla, Tesla, Organizations: New, New York CNN, National, Traffic Safety Administration, NHTSA Locations: New York
New York CNN —When McDonald’s rolled out the Chicken Big Mac in the United Kingdom, it sold out within 10 days. The Chicken Big Mac is similar to its beefy sibling; however, it replaces the two burgers with two tempura chicken patties. It also includes the signature Big Mac sauce, pickles, shredded lettuce and a slice of American cheese. In a press release Thursday, McDonald’s says that its customers have been “clamoring” for the Chicken Big Mac after making previous appearances on the chain’s menu across the world. The Chicken Big Mac has made a brief appearance in the US before: In 2022, McDonald’s released it as a test in some of its Miami restaurants to gather feedback from customers.
Persons: McDonald’s, Chris Kempczinski, it’s, Organizations: New, New York CNN Locations: New York, United Kingdom, United States, Ireland, Miami, Canada
New York CNN —A married New Jersey couple that was in a severe accident during an Uber ride can’t sue the company because they and their daughter agreed to arbitration when they accepted the terms of service for a separate Uber Eats order, a court has ruled. Georgia sustained several fractures throughout her body, including cervical, lumbar, spine and rib fractures and other physical injuries that required surgeries and other procedures. They tried taking Uber to court for a jury trial, but an appellate court recently ruled they can’t because they previously agreed to Uber’s updated terms and conditions requiring arbitration, which are the same in the Uber Eats and Uber ride app. The McGinty’s attorneys told CNN they’re reviewing the decision and will “likely” petition the New Jersey Supreme Court. Anger over arbitrationIt’s the latest case that highlights the intricacies of the terms of services having binding arbitration agreements that users agree to with many companies.
Persons: New York CNN —, John McGinty, Georgia McGinty, , John, Uber, ’ ” Uber, Georgia McGinty “, ’ ”, McGintys, they’re “, we’ve, ” Uber, Jeffrey Piccolo, Kanokporn Tangsuan, Disney, Piccolo, ” Josh D’Amaro Organizations: New, New York CNN, CNN, Uber, New Jersey Supreme, Disney, Locations: New York, New Jersey, Georgia
New York CNN —Krusty Krab, the fictional fast-food restaurant in “SpongeBob SquarePants,” will never be real, but at least the second-best thing is — a Krabby Patty. Wendy’s is releasing a special meal, in honor of the 25th anniversary of the “SpongeBob SquarePants” animated TV series, which includes a “Krabby Patty Kollab” cheeseburger and a “Pineapple Under the Sea” Frosty flavoring at its US and Canadian restaurants for a limited time beginning October 8. The Krabby Patty is the same as a regular cheeseburger but with an additional slice of cheese and a “top-secret” Krabby Kollab sauce, the chain announced Wendnesday. McDonald’s often releases celebrity meals, which features food already on its menu but with a special name, finding financial success with them. As a result, companies have released value meals and special promotions to ramp up sales.
Persons: Krusty Krab, SpongeBob, , Patty, Wendy’s, Patty Kollab ”, Burger King, MGM’s “ Organizations: New, New York CNN Locations: New York
New York CNN —The battle between Wawa and Sheetz for convenience store superiority in the United States finally has an official winner — at least on one metric. “Wawa and Sheetz have one of the biggest competitions in the convenience store industry, as both have strong, passionate followings,” Forrest Morgeson, director of research emeritus at ACSI, told CNN. “Convenience stores are no longer just a quick stop for gas and snacks. “By focusing on the in-store dining experience, while maintaining the speedy service that customers have grown accustomed to, convenience stores may have found the perfect recipe for success,” he added. ASCI often releases satisfaction scores for airlines, household electronics and fast-food chains, but this marks the first time that it’s measured convenience stores.
Persons: , Wawa’s, Sheetz, ” Forrest Morgeson, , , ” ASCI, Sheetz’s, ” Morgeson Organizations: New, New York CNN, American, Wawa, ACSI, CNN, Murphy USA, , Michigan State University, Shell Locations: New York, Wawa, United States, Philadelphia, Sheetz, Oklahoma, Texas
“We are aware of an issue impacting service for some customers,” a Verizon spokesperson told CNN Monday. Complaints to Verizon’s verified account on X show that customers have been frustrated by a lack of cell service and an inability to connect to the network. Many Verizon iPhone customers complained that their phones had been stuck in “SOS” mode Monday morning, allowing only emergency calls via satellite. Although relatively infrequent, cell service disruptions have caused some widespread headaches this year. The network went down again for a few hours in June and August.
Persons: Organizations: New, New York CNN, Verizon, CNN, T’s Locations: New York, United States
DirecTV agrees to buy Dish for $1
  + stars: | 2024-09-30 | by ( Jordan Valinsky | Ramishah Maruf | Liam Reilly | ) edition.cnn.com   time to read: +4 min
New York CNN —DirecTV announced Monday it’s buying rival Dish Network, ending multiple decades of on-and-off talks about the satellite services merging. The agreement provides DirecTV and Dish with greater scale, a DirecTV spokesperson told CNN. The newly merged DirecTV-Dish entity will continue to support the Dish brand for the foreseeable future, the DirecTV spokesperson said. DirecTV does not currently have plans to make changes to the existing Dish or Sling TV brands, meaning that current Dish customers should not be concerned about being forced over to DirecTV. The deal also strengthens the duo’s foothold in the industry, allowing them to more easily compete with pay TV rivals and streaming services.
Persons: Charlie Ergen, Mike White, Echostar, Hughes, Organizations: New, New York CNN, DirecTV, Dish Network, Netflix, Hulu, Amazon’s, Dish, , TPG, T, CNN, Disney, Hughes Electronics, EchoStar Corporation, Bloomberg, General Motors, Monday, Antitrust Locations: New York
New York CNN —WeightWatchers CEO Sima Sistani, who pushed the company into embracing weight-loss drugs, is leaving the position after a two-year stint. “These medications have shown, and science has evolved to say, that living with obesity is a chronic condition. Winfrey joined the board in 2015 and bought a 10% stake, immediately giving the beleaguered company relevance. Tara Comonte, a WeightWatchers board member and a former CEO of Shake Shack, will become the interim CEO effective immediately, the company said in a release. Prior to joining the company in June 2023, she was the CEO of a fertility technology company.
Persons: Sima Sistani, ” Sistani, Oprah Winfrey, Winfrey, Tara Comonte, Comonte’s, , Thilo Semmelbauer Organizations: New, New York CNN, CNN, National Museum of, Shake Locations: New York
New York CNN —Three things seem certain to happen in life: death, taxes and the prices of stamps going up. The United States Postal Service announced that First-Class postage, currently at 73 cents, will go up five times through 2027, according to a detailed document submitted this week to the Postal Regulatory Commission. The next price hike is planned for July 2025 and will then repeat “each January and July thereafter” through the end of 2027, the agency said. However, all price changes must be approved by the Postal Regulatory Commission and the specific price hikes weren’t announced. First-Class mail is becoming a smaller part of the Postal Service’s business because of online communication.
Persons: , Louis DeJoy, Organizations: New, New York CNN, United States Postal Service, Postal Regulatory Commission, weren’t, USPS Locations: New York
New York CNN —McDonald’s has become notorious for its broken ice cream machines — there’s even an independent website that monitors broken McFlurry machines. Wendy’s is selling small-sized, $1 Frosty frozen dairy desserts until September 30 — and it’s collaborating with McBroken, which reports which McDonald’s locations have broken ice cream machines. Nearly 15% of McDonald’s ice cream machines are broken as of Thursday, according to McBroken’s data. McBroken was created a few years ago by Rashiq Zahid, who was also frustrated by the lack of working ice cream machines at McDonald’s. Eugene Gologursky/Getty ImagesIf the ice cream machine is offline, the McDonald’s app will remove the ice cream order from the cart, he said.
Persons: New York CNN — McDonald’s, Frosty “, , There’s, McBroken, Rashiq Zahid, Frosty, Eugene Gologursky, McDonald’s, Wendy’s Organizations: New, New York CNN, McBroken, CNN Locations: New York, Chicago, Houston, Las Vegas , New York, Los Angeles, Wendy’s
Hoda Kotb is leaving NBC’s ‘Today’
  + stars: | 2024-09-26 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +1 min
New York CNN —Hoda Kotb, the co-anchor of NBC’s morning show, “Today,” is leaving her position early next year, she announced Thursday. Kotb has co-hosted the program with Savannah Guthrie since 2017, taking over from Matt Lauer, who was fired following allegations of inappropriate sexual behavior at work. “It was time for me to turn the page at 60,” Kotb said on “Today” Thursday while holding back tears. Kotb joined NBC in 1998, first as a correspondent on the “Dateline” newsmagazine and was named the co-host of the 10 am hour of “Today” in 2008 with Kathie Lee Gifford In 2019, Jenna Bush Hager took over the role. A replacement for both of her roles, at 7 am through 9 am and at 10 am, weren’t announced.
Persons: Hoda Kotb, Kotb, Savannah Guthrie, Matt Lauer, ” Kotb, , Kathie Lee Gifford, Jenna Bush Hager, Guthrie, weren’t Organizations: New, New York CNN, NBC, Dateline, Locations: New York, Savannah,
New York CNN —Coca-Cola is discontinuing the production of its new Spiced flavor just six months after the soda hit shelves, marking the end of a disappointing attempt to attract younger drinkers. “As part of this strategy, we’re planning to phase out Coca-Cola Spiced to introduce an exciting new flavor in 2025,” a spokesperson said. The short lifespan of Spiced Coke is surprising, because the company promoted it as a permanent flavor. Coca-Cola introduced Spiced Coke in February with a splashy ad campaign. The beverage blended the traditional Coke flavor with raspberry notes.
Persons: , Coke, DJ Marshmello, Sue Lynne Cha, ” Cha, , Coke’s Organizations: New, New York CNN, Dreamworld, North America, , CNN Locations: New York
Here are the eight new emoji coming to smartphones
  + stars: | 2024-09-23 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +1 min
New York CNN —Finally, an emoji to represent us all is coming soon: An exhausted face with bags under its eyes. It’s one of eight new emoji that will appear on smartphones and computers next year, which also include a root vegetable, a harp, a leafless tree, a fingerprint, a shovel, a purple splatter, and a flag for the remote island in the English Channel called Sark. Emojipedia, a popular emoji reference site, released sample images a few months ago. Recently, the Unicode Consortium, the non-profit that oversees global emoji standards and new releases approved the new emoji lineup. The exhausted emoji face had the honors of winning the “most anticipated” emoji in the World Emoji Awards receiving more than 60% of the vote.
Persons: ” Emojipedia, emoji, Brian Baihaki, ” Baihaki Organizations: New, New York CNN, Unicode, Apple Locations: New York, Emojipedia
That’s why the biggest theater chains in the United States and Canada have a $2.2 billion plan to bring them back. Large chains are also facing competition from luxury theaters offering an enhanced viewing experience, like IPIC Theaters and Alamo Drafthouse. Better air conditioning, new signs and revamped carpeting are also included in the plan. In July, Regal announced it would spend $250 million to remodel its 400 locations following its parent company’s exit from bankruptcy. The $2.2 billion investment shows “no better reflection of confidence” about movie theaters’ future, Paul Dergarabedian, senior analyst at Comscore, told CNN.
Persons: Cinemark, Paul Dergarabedian, Organizations: New, New York CNN, AMC Entertainment, Regal, American, IPIC, Sony Pictures Entertainment, National Association of Theatre Owners, NATO, CNN, Locations: New York, United States, Canada
New York CNN —Three Mile Island, the site of worst nuclear disaster in the United States, is reopening and will exclusively sell the power to Microsoft as the company searches for energy sources to fuel its AI ambitions. Microsoft will purchase the carbon-free energy produced from it to power its data centers to support artificial intelligence. Clean energy advocates and businesses alike are looking towards nuclear energy as a source of zero-carbon power that is a reliable baseload source. Three Mile Island, located near Harrisburg, is best known for being the most serious accident at a commercial nuclear power plant in US history when it experienced the partial meltdown of one of its two reactors. Demand for energy is expected to surge as tech giants need more sources of power to fuel their AI needs, especially nuclear power, which is carbon-free and helps them maintain their lofty climate goals.
Persons: weren’t, , Joe Dominguez, It’s, Joe Biden’s, Biden, Bobby Hollis, CNN’s Ella Nilsen Organizations: New, New York CNN, Microsoft, Constellation Energy, Constellation Locations: New York, United States, Harrisburg
New York CNN —Once a holdout on using third-party services, Olive Garden is reversing course and will use Uber to deliver breadsticks and pasta. Olive Garden already offers delivery through its website and app, delivered by the restaurant’s employees. Even during the height of the pandemic, Olive Garden didn’t use the services, although the services benefited their competitors. The partnership likely alleviated some of the pain of a dismal quarter for Olive Garden, which reported a 2.9% drop in same-store sales for the quarter. Olive Garden doesn’t offer many discounts, like its competitors do.
Persons: Uber, Olive Garden, Olive, , Rick Cardenas, ” Darden, Darden, Ruth Chris Organizations: New, New York CNN, Darden, it’s, Olive, Longhorn Locations: New York, Olive
New York CNN —Wednesday is National Cheeseburger Day, with some of the biggest chains offering some much-needed discounts amid consumer complaints about rising prices. It’s part of company’s string of deals to kickstart slumping sales, including recently extending its popular $5 value meal until December. Fast food has been a low-profit margin business with little customer loyalty. McDonald’s pricey burgers have become a flashpoint of criticism and a symbol of elevated fast food prices. So deals are particularly crucial to fast food companies at the moment to lure customers back.
Persons: they’re, Burger King, Jack, Jack ” cheeseburger, , Joe Erlinger Organizations: New, New York CNN, Wednesday, McDonald’s Locations: New York, White, McDonald’s USA
New York CNN —With its line-up of sweet snacks, Hershey isn’t known as a purveyor of diet foods. As the use of weight-loss drugs — notably Ozempic and Wegovy — grows, the 130-year-old confectionery company is adjusting to this new era by pushing further into the wellness category with protein powders and energy drinks in popular candy flavors. Hershey’s namesake milk chocolate and Reese’s peanut butter and chocolate will soon be sold as protein powders and its Jolly Rancher candies will be turned into bubbly energy drinks. Energy drinks, which are most often bought by millennial and Gen Z customers, have “a lot of affinity” with Hershey’s products, Cunningham told CNN. C4 has already had success with using flavors from Skittles, Starburst and Popsicle for its other energy drinks.
Persons: Hershey, , , , Doss Cunningham, Red Bull, Cunningham, ” Cunningham, Andrea Hernández, Hernández, Hershey’s Organizations: New, New York CNN, Hershey Company, C4 Energy, Red, Energy, CNN, Kroger, Walmart, Hershey, One Locations: New York, , United States, Amazon
It features “over 1,000 contestants, $5,000,000 prize, and many other world records,” the creator MrBeast, whose real name is Jimmy Donaldson, said at the time. The 54-page document describes allegations of players being subjected to “unreasonable, unsafe, and unlawful employment conditions” that led to “several” contestants being hospitalized. Last month, a New York Times report detailed some claims of dangerous conditions from unnamed contestants on the set of the show hosted by the 26-year-old Donaldson. MrBeast nor Amazon immediately responded to CNN’s request for comment about the lawsuit. In recent years, each of his videos easily surpasses 100 million views, and at times has pushed half a billion.
Persons: MrBeast, Jimmy Donaldson, Donaldson, Organizations: New, New York CNN, YouTube, Amazon, Amazon Prime, New York Times, Times, Beast, Netflix Locations: New York, Los Angeles, Nevada, Las Vegas
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