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New York CNN Business —Taylor Swift’s era-defining “Eras” tour is flying like a jet stream, high above the music scene — by billions of dollars. The tour could gross $2.2 billion in North American ticket sales alone, according to August survey data from research firm QuestionPro provided to CNN exclusively. ‘An economic phenomenon’“Taylor Swift’s ‘Eras’ tour is rewriting the playbook of entertainment economics,” said Chris Leyden, director of growth marketing at SeatGeek. “She’s not just a performer — she’s an economic phenomenon.”The average resale price of an “Eras” ticket was $1,607, SeatGeek told CNN. Swift kicked off the highly-anticipated “Eras” — her first tour since her “Reputation” stadium tour in 2018 — in March.

Persons: New York CNN Business — Taylor, QuestionPro, Swift, Elton John’s, Larry Miller, New York University Steinhardt, “, ”, Miller, concertgoers, Taylor, Chris Leyden, “ She’s, —, SeatGeek, “ Taylor, Terri Shoemaker, Taylor Swift, Hell, Swifties, “ We’ve, Ethan Chernofsky, That’s, it’s, I’ve Organizations: New York CNN Business, North, CNN, New York University, Swift, Arizona Food Bank Network, Retailers, Ticketmaster, Entertainment, Nissan Locations: Los Angeles, American, North America, Arizona, Philadelphia, Nashville , Tennessee, Arlington , Texas

☆ McDonald's beats sales estimates as cheaper burgers draw consumers
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

July 27 (Reuters) - McDonald's (MCD.N) beat market expectations for quarterly comparable sales on Thursday, as the restaurant chain's relatively cheaper burgers and fries attracted cost-conscious diners in an inflationary environment. While U.S. restaurant chains including McDonald's have had to raise prices to offset a hit to profit from higher costs, the company has still managed to keep its prices lower than its competitors. Those moves, coupled with improved staffing levels at its chains, have helped McDonald's gain market share from its peers. In contrast, overall traffic at fast-food and quick-service chains climbed just 1.2% in the same period. Easing costs of key ingredients including chicken, cheese and pork have also helped McDonald's, whose total restaurant margins in the United States climbed 12% in the quarter.

Persons: McDonald's, Deborah Sophia, Anil D'Silva Organizations: U.S, McDonald's, Thomson Locations: United States, U.S, Bengaluru, Kailyn Rhone, New York

☆ Grimace shakes help send McDonald’s sales surging
▼ + stars: | 2023-07-27 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

In the United States, sales at McDonald’s locations open for at least 13 months jumped 10.3% in the quarter ending on June 30. Grimace’s birthday, and the kickoff date for the special meal and shake McDonald’s offered to celebrate, was on June 12. When McDonald’s introduced the special products for Grimace in early June, it wasn’t all about the shake. The Grimace Birthday Meal also came with McNuggets or a Big Mac and fries. “Grimace is the perfect lovable icon to have McDonald’s meet our fans at the intersection of nostalgia and culture.”But in TikTok videos where people wish Grimace a happy birthday before sampling the shake, Grimace is not presented as a lovable icon.

Persons: McDonald’s, “, ”, Chris Kempczinski, ” Tariq Hassan, “ Grimace, Grimace, tweeting Organizations: New, New York CNN, McDonald’s, Plant Locations: New York, United States, China, Placer.ai

☆ Chipotle is becoming a huge hit in small towns, and it's hurting chains like Chick-fil-A, McDonald's, and Texas Roadhouse
▼ + stars: | 2023-07-19 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

Now, it's expanding to small towns and hurting chains like Chick-fil-A, according to Placer.ai. Popular steak house chain Texas Roadhouse, which is 1.6 miles from the new Chipotle, saw year-over-year traffic slide by 5.27% in April and by 3.92% in May 2023. A Chick-fil-A less than a mile from Chipotle, saw foot traffic decrease four out of five weeks in May, Placer.ai reports. "I don't see how Chipotle's brand can transfer to small towns." Chipotle isn't betting all of its growth on small towns.

Persons: Chipotle, Placer.ai, Jack Hartung, Tim Powell, Zers, Powell Organizations: Service, Wall Street, Placer.ai, Texas, X Locations: Wall, Silicon, Chipotle, America, Texas, San Angelo , Texas, The Texas, McDonald's, Covington , Louisiana, Camden , Delaware, Washington, Canada, France, Germany

☆ We asked if people want to be in the office Mondays, Fridays — or neither. A big landlord says 5-day workweeks are dead.
▼ + stars: | 2023-07-05 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

One of New York City's biggest landlords said the office is dead on Fridays and maybe Mondays, too. Data on office occupancy rates also shows Mondays and Fridays are the most vacant days of the week. Insider asked readers on our LinkedIn page if they're going into the office on Mondays and Fridays, Mondays or Fridays, or neither. We asked: "Given the choice, do you go into the office on Mondays and Fridays?" A little less than half of the respondents said they wouldn't go into the office on either Mondays or Fridays.

Persons: —, Steven Roth, Misha Friedman, Robert Parlaman, Lakshmi Organizations: Service, Disney, LinkedIn, New York, San, Chicago, Washington D.C, Philadelphia, Houston, Austin, Dallas, Angeles, Systems Locations: York, Placer.ai, Atlanta, Jose, San Francisco, Lakshmi Varanasi, lvaranasi

☆ All-you-can-eat buffets in Las Vegas are reportedly drawing up to 2-hour wait times amid a resurgence in popularity
▼ + stars: | 2023-06-30 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

The resurgence of buffet-style restaurants is leading to wait times of up to two hours, NYT reports. Buffet-style restaurants in Las Vegas are now seeing wait times of up to two hours, The New York Times reports. Though these findings are significant in vacation hot spots like Las Vegas, buffets across America also are seeing a boost. The buffet affords its patrons a meal that is ready upon arrival which cuts down the wait times." Not all buffet restaurants were lucky enough to see a post-pandemic comeback — some closed down for good during the COVID-19 pandemic and nationwide restrictions.

Persons: Buffets, —, There's, Lori Ford, Ford Organizations: Service, New York Times, Cosmopolitan, CNN, The New York Times, Movie, Food and Drug Administration, Tomatoes, Times Locations: Las Vegas, Vegas, Bellagio, buffets, America, Hattiesburg , Mississippi

☆ Huge New York landlord admits Fridays in the office are 'dead forever' — and Mondays are 'touch-and-go'
▼ + stars: | 2023-06-27 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Mondays in the office could be "dead forever," one of New York's biggest landlords says. One of New York's biggest private landlords, Vornado Realty Trust, is betting on hybrid work being here to stay. The firm's chairman, Steven Roth, told investors recently that office work on Fridays is likely "dead forever." Office visits on Mondays and Fridays, however, remain just half of what they were in 2019, according to the report. The current push toward hybrid work comes as some companies are doubling down on employees returning to the office.

Persons: —, we're, Steven Roth, Vornado, Bob Iger, that's, Kathryn Minshew Organizations: Placer.ai, Service, Vornado Realty, Street, Penn, Amazon, Meta, Disney, Employees, Kastle Systems, New York, San, Chicago, Washington D.C, Philadelphia, Houston, Austin, Dallas, Angeles Locations: Placer.ai, Arizona, Jose, San Francisco

☆ Courtney Dauwalter: Ultra runner breaks Western States 100 course record by almost 80 minutes
▼ + stars: | 2023-06-26 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Ultramarathon runner Courtney Dauwalter crushed the women’s course record at the Western States 100-mile race in California, taking more than an hour off the previous best time. Dauwalter finished the Western States 100 – the world’s oldest 100-mile race – in 15 hours, 29 minutes and 34 seconds, almost 80 minutes faster than Ellie Greenwood’s record set in 2012. Chandan Khanna/AFP/Getty ImagesAfter running with fellow American Katie Schide, Dauwalter started pulling away around the 30-mile mark, steadily eating away at Greenwood’s course record. Schide finished in second on Saturday in 16 hours, 43 minutes and 45 seconds, which was also quicker than Greenwood’s previous course record. In the men’s event, the United Kingdom’s Tom Evans won in 14 hours, 40 minutes and 22 seconds – the fourth-fastest time in the history of the race.

Persons: CNN —, Courtney Dauwalter, Dauwalter, Ellie Greenwood’s, “, ” Dauwalter, iRunFar, Snow, Chandan Khanna, Katie Schide, Schide, Tom Evans Organizations: CNN, Getty Locations: California, Olympic Valley , California, Twin Lakes , Colorado, Auburn, Placer County, Colorado

☆ Empty offices, abandoned malls, concerns over crime: Why San Francisco, the Golden City, is losing its luster
▼ + stars: | 2023-06-17 | by ( Al Yoon | ) www.businessinsider.com time to read: +8 min

Days later, Unibail-Rodamco-Westfield and coowner Brookfield gave the San Francisco City Centre back to their lenders after the exit of retailers left the mall just over half occupied. Whatever is going on in San Francisco, we are not interested in being part of that any longer." Fear of crime taints the cityCrime, or the fear of it, often creeps into conversations about San Francisco, too. "I ask, what's the driver" of the San Francisco office vacancies, Scavone told Insider. He continued: "Is it because downtown San Francisco is somewhat of a difficult commute from suburbs in Marin County or the East Bay?"

Persons: Manus Clancy, Trepp, —, Brookfield, Clancy, Salesforce, Jeff Burg, he's, Burg, we're, Thomas Baltimore, hasn't, Elon Musk, Bob Lee, Frank Scavone, Scavone Organizations: Service, San Francisco, California, Hilton San Francisco, Square, Parc, San Francisco City Centre, San, Krea, Union, Census, LinkedIn, Park Hotels, Resorts, Westfield, ABC, San Francisco Travel Association, Elon, Foods, The New York Times, McKinsey & Co, downtown Locations: San Francisco, San, San Francisco Chronicle, Westfield, Real, Francisco, New York, cubicles, Boston , Chicago, Houston, Miami, San Francisco's Hayes Valley, Manhattan, Tenderloin, —, downtown San Francisco, Marin County

☆ The top places for digital nomads are miles from the hottest Zoomtowns. Cities in the Midwest and West have an advantage on rents, restaurants, and transportation.
▼ + stars: | 2023-06-14 | by ( Al Yoon | ) www.businessinsider.com time to read: +2 min

Midwestern cities were prominent in Zumper's list of best places for digital nomads. Zumper also took transportation, restaurant, and entertainment offerings into account. In 2021, the number of these digital nomads rose 42%, topping 10 million, MBO partners, a self-employment tech provider, found. It based its findings on myriad factors including short-term rental prices, ease of access to airports and other transportation, restaurant and entertainment offerings, air and WiFi quality. The cost of a short-term rental held the most weight in the ranking.

Persons: —, Zumper, It's Organizations: Service, Nomads Locations: Placer.ai, Austin , Texas, Florida, Columbus , Ohio, Kansas City , Missouri, Chicago, Detroit , Michigan

☆ Boycotts hit stocks hard. Here's what might be next for Bud, Target and others caught in the anti-Pride backlash
▼ + stars: | 2023-06-03 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Stock Chart Icon Stock chart icon Anheuser-Busch InBev shares hit a 52-week high of $67.09 on March 31. Bud Light has tried to win back customers with a $15 off rebate program on Budweiser, Bud Light, Bud Select and Bud Select 55. Stock Chart Icon Stock chart icon Target's stock hit a 52-week low on Thursday. Stock Chart Icon Stock chart icon VF Corp. shares traded as low as $16.77 on Thursday. Stock Chart Icon Stock chart icon Kohl's shares on Thursday hit a low of $17.89, the stock's lowest level since May 22, 2020, when it traded as low as $17.19.

Persons: BUD TGT, Justin Sullivan, Bud Light, Dylan Mulvaney, Pattie Gonia ., it's, Brayden King, Cowen, Vivien Azer, Miller, Azer, Bud, Brandon Bell, King, Sarah Kate Ellis, recouping, Christopher Horvers, Horvers, Wells, Edward Kelly, Kelly, Americus Reed Organizations: TAP, Anheuser, Busch, Target, VF Corp, North, Pride, Busch InBev, Coors, Molson Coors, Lite, Bud, Budweiser, Walmart, Bud Light, Companies, GLAAD, JPMorgan, Americus, University of Pennsylvania Locations: San Francisco , California, Austin , Texas, Wells Fargo

☆ From Kroger to Walmart, these are the top 10 most popular grocery chains in America
▼ + stars: | 2023-05-18 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Indeed, restaurant prices have risen faster than grocery prices over the last year, according to data from the Department of Labor. To rank the grocers, Placer.ai measured the "visit share" each retailer received in April. "Visit share" is the percentage of total visits that a retailer received during a given time frame compared to the other retailers also being analyzed. Kroger, with its more than 1200 locations in 16 states, was the top visited supermarket chain in the country, capturing 9.1% of the visit share in April. These are the 10 most popular supermarket chains in the country.

☆ As shoppers look for savings, Nordstrom hopes Rack stores can fuel its revival
▼ + stars: | 2023-05-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +9 min

The success or failure of the Nordstrom Rack turnaround effort could shape the company's future. Those chains such as T.J.Maxx , Ross Stores and Burlington Stores , have opened more stores and wooed new customers, driving higher foot traffic than Nordstrom Rack has seen. Nordstrom Rack stores outnumber the company's namesake stores, with 241 locations across the country, according to company filings. Nordstrom Rack stores accounted for more than 40% of new customers in 2022, CEO Erik Nordstrom said on the March earnings call. As it pins its growth hopes on the off-price locations, Nordstrom has turned Rack stores into e-commerce hubs, too.

☆ Lawmakers press companies that collect U.S. consumer data to reveal how they buy and sell it
▼ + stars: | 2023-05-10 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

In the letters, 10 lawmakers asked the companies for detailed responses on the types of sensitive information they gather, such as health, location and phone data, including apps consumers download to their devices. The companies were also asked what information they collect on minors. Last month, the subcommittee on oversight and investigations held a hearing with expert witnesses to examine "the role of data brokers in the digital economy." In that report, the regulator recommended that Congress force brokers to give consumers greater control over their data, but the "data brokers can easily circumvent existing rules and laws," the letter said. Here's the full list of data brokers who received the letter::AcxiomAtDataBabel StreetCoreLogic SolutionsEpsilon Data ManagementEquifaxExperianGravy AnalyticsInteliusKochavaLiveRampMylifeOracle AmericaPeopleConnectPlacer.aiRELXSafegraphSpokeoThomson ReutersTransUnionVerisk AnalyticsWhitepagesSubscribe to CNBC on YouTube.

☆ The buffet is back. Thank you, inflation.
▼ + stars: | 2023-05-08 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Diners are looking for a good deal as inflation keeps restaurant prices high. Now, they're becoming destinations again, with society mostly open and inflation forcing consumers to stretch the money that they spend on eating out. Now, with restaurant prices rising fast thanks to inflation, all-you-can-eat buffets are attracting diners looking for a good deal. Golden Corral is one of the buffet chains that survived the pandemic. Some, like the company behind Furr's Fresh Buffet and Old Country Buffet, filed for bankruptcy and permanently closed locations.

☆ The all-you-can-eat buffet line is crowded again
▼ + stars: | 2023-05-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

The owner of Old Country Buffet and Furr’s Fresh Buffet filed for bankruptcy in 2021. “The higher quality concepts that stuck it out are reaping some rewards, like Golden Corral and Pizza Ranch,” said Jonathan Maze, the editor-in-chief at trade publication Restaurant Business Magazine. “People wanted the buffet back,” Golden Corral CEO Lance Trenary told the trade publication. The company plans to add up to 250 more Golden Corral buffets around the United States over the long run. The median household income of Golden Corral, Cicis and Pizza Ranch customers is below the national average, according to Placer.

☆ Restaurant Brands beats quarterly estimates on higher pricing, traffic
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

May 2 (Reuters) - Restaurant Brands International Inc (QSR.TO) beat Wall Street estimates for first-quarter revenue and profit on Tuesday, boosted by higher prices and increased traffic at its Burger King and Tim Hortons chains. Restaurant Brands' Burger King chain has been able to attract younger customers to its restaurants through a newly released viral "Whopper Whopper" jingle. Restaurant Brands in February named its chief operating officer, Joshua Kobza, as CEO in a turnaround plan for its struggling Burger King brand. According to location analytics firm Placer.ai, Burger King saw positive week-over-week visit growth for the majority of weeks since January 2023. Excluding items, Restaurant Brands earned 75 cents per share, compared with estimates of 64 cents, according to Refinitiv IBES data.

☆ Americans in the Midwest are obsessed with these 9 grocery stores
▼ + stars: | 2023-04-24 | by ( Alex Bitter | ) www.businessinsider.com time to read: 1 min

Hy-VeeAP/Nati HarnikWhere it had the highest share of visits: Iowa (65%), Nebraska (41%), South Dakota (58%)Headquarters: West Des Moines, IowaNumber of stores: 285Started as a single general store in 1930, Hy-Vee's stores today boast beauty sections and 24-hour Chinese takeout. They also have in-store restaurants, including Wahlburgers, Starbucks, and Caribou Coffee, and have partnered with Orangetheory to offer classes. The chain came out on top by store visits in three states, according to Placer.ai's data. It also came in second in three other states: Kansas, Minnesota, and Missouri. Hy-Vee's expansion plans are set to make it more than a regional favorite: The grocer is building stores in the Southern states of Alabama and Tennessee.

☆ Office Doom Loop: Landlords Face a Reckoning As Companies Move to Fancy Offices
▼ + stars: | 2023-03-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +14 min

The Gas Company Tower in downtown Los Angeles has a sterling pedigree, but even that can't save it from the doom loop facing many older office towers. A huge swath of America's office market is vulnerable to these twin threats of being under-equipped with amenities and underwater financially. This behavioral shift has deeply cut into demand for office space. The amount of sublease space nationally more than doubled from 118.5 million square feet at the end of 2019 to 242.8 million square feet at the end of 2022, Colliers stated. Lenders are often reluctant, he said, to seize office buildings because of the costs and expertise required to operate the properties.

☆ These top grocery stores are dominating the Midwest from Hy-Vee to Cub Foods
▼ + stars: | 2023-03-29 | by ( Alex Bitter | ) www.businessinsider.com time to read: 1 min

☆ Fitness chains add financial muscle as more Americans hit the gym
▼ + stars: | 2023-03-22 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Some of the major players in the fitness sector have pushed the envelope on membership rates after the pandemic scare, helping them beef up earnings, when most other industries are under stress from the impact of a cautious consumer. Larger rival Planet Fitness Inc (PLNT.N) added 400,000 members in the fourth quarter, taking the total to about 17 million in 2022. "People that are working out, are working out slightly more than they did in the past ... So even with the recessionary talks and layoffs you see, cancellations are just slightly better," Planet Fitness CEO Chris Rondeau said at a JPMorgan conference last week. A Planet Fitness executive said Gen Z represented 25% of the company's total membership.

☆ Nike and Lululemon are obliterating the competition when it comes to drawing customers to stores
▼ + stars: | 2023-03-17 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Foot traffic at Nike and Lululemon stores increased each of the last three monthsDuring the same time period, foot traffic at sporting goods apparel stores decreased. Traffic increased more than 11% at Lululemon stores and nearly 6% at Nike stores while traffic at sporting goods apparel stores decreased by nearly 8%, according to a new report from Placer.ai, a retail analytics firm. The sporting goods apparel category for Placer.ai includes chains such as Dick's Sporting Goods and Hibbett. Lululemon stores host yoga classes. While foot traffic is increasing at Nike and Lululemon stores, in recent months several brands, including Nike, Adidas, and Allbirds, have signaled renewed interest in wholesale channels.

☆ Target, Macy's and Best Buy say consumers are strained
▼ + stars: | 2023-03-02 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Big retailers say consumer demand is starting to buckle from the strain of inflation and customers are making changes in how they shop. Target (TGT), Best Buy (BBY), Macy’s (M) and other chains say shoppers have pulled back on discretionary goods like clothing, electronics and home improvement. The slowdown could mean consumers will see more discounts on shelves as stores look for ways to entice shoppers and work down their inventory. “The consumer electronics industry continues to feel the effects of the broader macro environment and its impact on consumers,” Best Buy finance chief Matt Bilunas said. Best Buy predicts its comparable sales will decline 3% to 6% this year.

☆ Girl Scouts injured after man crashes Tesla into cookie stand outside a California Walmart, officials say
▼ + stars: | 2023-02-26 | by ( Bethany Biron | ) www.businessinsider.com time to read: +1 min

A man was arrested Saturday for crashing his Tesla into a Girl Scout cookie stand outside Walmart. Authorities said he was driving under the influence, according to local outlets. Officials said the incident happened at around 3:50 p.m. Saturday, and they arrived to find a 2015 Tesla slammed into the cookie stand in front of the store, according to Fox 40. "I saw the yellow tape and I was just shocked to hear that some Girl Scouts were injured. This is a pretty low key parking lot," Granite Bay resident Ken Klinger told KCRA 3 outside of the Walmart store Saturday evening.

☆ Warren Buffett is missing out on this year’s market comeback
▼ + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.

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