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Walmart is taking dollar stores’ customers
  + stars: | 2024-09-04 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +6 min
Dollar Tree also owns the long-struggling Family Dollar chain. While dollar stores once expanded to reach a growing number of financially strapped Americans, they underestimated just how financially strapped many Americans would become. “They missed the fact in tough times the consumer would be looking for consumables.”Meanwhile, Dollar Tree has been weighed down by its purchase of Family Dollar. Earlier this year, Dollar Tree announced that Family Dollar will close more than 900 stores, and it subsequently said it will explore a sale or spinoff of Family Dollar. In previous times of financial stress, Dollar General has seen middle-income and slightly more affluent households trade down into Dollar General to save money.
Persons: Michael Lasser, , Todd Vasos, Vasos, Mike Creedon, aren’t, “ They’re, ” David D’Arezzo, , ” Neil Saunders, Organizations: New, New York CNN, Walmart, UBS, Dollar General, Dollar, CNN, Target Locations: New York
Executives at ESPN and Penn Entertainment hope that's true of ESPN Bet, which will soon debut in the Big Apple as football season heats up. The company hopes its massive platform and popular talent will attract new users to ESPN Bet. A far lower spend rate than its peers drove the service's market share below 4% in the first quarter of 2024, BofA estimated. In those states, ESPN Bet's share is generally between 3% and 6%. AdvertisementThat gives ESPN's namesake betting app a big advantage, but it's unclear whether that will be enough in the ruthless sports betting market.
Persons: , Frank Sinatra, Mike Morrison, ESPN's, Penn, Chris Grove, Penn didn't, Grove, Dan Wasiolek, Wasiolek, Bet365, ESPN Bet shouldn't Organizations: Service, New, ESPN, Penn Entertainment, ESPN Bet, Apple, Business, Industry, NFL, Krejcik, Penn, Bank of America, Morningstar, Sports Locations: New York, Pennsylvania
In Japan, convenience stores are celebrated. Millions flock to the stores daily to pick up food, send packages and pay bills. Japan’s largest konbini chain, 7-Eleven, is also its most famous. It is understandable that a rival company wants in on the action. This week, Seven & i Holdings, the Japanese company that operates 7-Eleven, said it had received an unsolicited takeover proposal from Alimentation Couche-Tard, a convenience store giant in Canada.
Persons: Anthony Bourdain, , Alimentation Organizations: Holdings Locations: Japan, Canada
Tourists flock to Venice, Italy, for its canals and historic architecture, causing overtourism. I visited Venice in 2022 and saw how mass tourism negatively impacts residents, so I won't return. Go to newsletter preferences Thanks for signing up! You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementThe reasons tourists travel to Venice, Italy, are obvious.
Persons: , haven't Organizations: overtourism, Service, Business Locations: Venice, Italy
Everything You Need to Know About the 2024 U.S. Open
  + stars: | 2024-08-22 | by ( Jesus Jiménez | ) www.nytimes.com   time to read: 1 min
For much of the year, the Billie Jean King National Tennis Center in Queens is mostly quiet. But for two weeks late in the summer, the place becomes the center of the tennis world as thousands of fans flock to Flushing Meadows for the U.S. Open. Qualifying matches are already underway, and the main draw of the U.S. Open begins on Aug. 26. The Australian Open, French Open, Wimbledon Championships and the Olympics are in the books, so this is the last chance for the world’s top tennis players to win a major title this year. A few are favored to win this year, but the U.S. Open has been known for upsets, thrilling matches that can run late into the night.
Persons: Billie Jean King Organizations: Billie Jean King National Tennis Center, U.S ., Wimbledon Locations: Queens, Flushing Meadows
The secular megatrend of AI remains strong as Big Tech companies continue to invest billions into developing the technology. Forward earnings estimates for the tech sector are rising to all-time highs, indicating continued optimism. Investor expectations have now become recalibrated after the correction, providing tech stocks with more room to grow, in Lerner's opinion. AdvertisementTruistA cooling macroeconomic environment will also provide a boost to tech stocks as investors flock back to Big Tech, according to Lerner. With the Fed likely to begin cutting rates in September, many of the Big Tech companies are poised to benefit.
Persons: , Keith Lerner, Lerner, that's, shouldn't, Truist, outperformance, He's Organizations: Service, Business, Semiconductor, Big Tech, Tech, Vanguard Information Technology, VanEck Semiconductor
“The Qixi Festival is not as robust as previous years. Couples attend a kissing contest during the traditional Qixi festival in Shenyang, northeast China's Liaoning province, on August 13, 2013. “The only part of the world where consumer confidence remains very low is China,” L’Oreal CEO Nicolas Hieronimus told analysts on an earnings call late last month. Lower-than-expected growth in the global beauty sector this year is largely a consequence of low consumer confidence in China, he added. People take photos at a bus stop decorated with flowers during Qixi Festival, or Chinese Valentine's Day, on August 22, 2023 in Chongqing, China.
Persons: China’s, Louis Vuitton, , forlornly, Huang Jinkun, Alfred Wu, Lee, , Yeap Jun Rong, Xi Jinping, Peng Liyuan, Stringer, De Beers, That’s, Niulang, Nicolas Hieronimus, Joanne Wilson, didn’t, ” Mercedes, Ola Kaellenius Organizations: Hong Kong CNN, Weibo, CNN, Qixi, Lee Kuan Yew, of Public, National University of Singapore, Volkswagen, Ministry of Civil Affairs, Getty, Diamond, State Administration of Foreign Exchange, Global, WPP, China News Service, Mercedes, ” Mercedes Benz Locations: China, Hong Kong, Shenyang, Liaoning province, Beijing, China's Liaoning province, AFP, Chongqing
The "For the Birds" ad campaign for DirecTV emphasizes customers don't need a satellite dish anymore for service. Courtesy: DirecTVCoach Prime wants consumers to know they can watch DirecTV without a satellite dish. As pay TV distributors — both satellite and cable companies — have seen customers flee for streaming, DirecTV is trying to get the message out that a clunky satellite dish is no longer needed for its service. Satellite TV providers like DirecTV and EchoStar's Dish were once some of the biggest distributors of the TV bundle. Sticking with sportsThe "For the Birds" ad campaign for DirecTV emphasizes customers don't need a satellite dish anymore for service.
Persons: Deion Sanders, Steve Buscemi, Henry Winkler, Vince Torres, it's, Torres, Shedeur Sanders, , Winkler's Frank, Bobby, Buscemi, There's, Sanders, Tinker Bell, Cord, Pavlo Gonchar, Craig Moffett, what's, Moffett, DirecTV's Organizations: DirecTV, NFL, Colorado, Colorado Buffaloes, Nebraska Cornhuskers, Folsom, NBA, NHL, NCAA's Colorado Buffaloes, Lightrocket, Satellite, TPG, AT, Hulu, Sling, YouTube, Netflix, Comcast, Charter Communications Locations: Colorado, Boulder ,, New York City
But the move likely wouldn’t help many tipped workers, largely because a sizable share don’t earn enough to pay federal income taxes, experts say. Harris would couple her plan to eliminate taxes on tips with a push for Congress to raise the minimum wage, a Harris campaign official said. Many states and municipalities have higher minimum wages and minimum tipped wages, while some states have eliminated lower minimum wages for tipped workers. Just excluding tips from federal income taxes could reduce revenues by at least $107 billion over 10 years, according to the Tax Foundation. Just getting rid of federal income taxes on tips would lead to a loss of about half that size.
Persons: Donald Trump, Kamala Harris, Trump, Harris, Republican Sen, Ted Cruz of, Democratic Sens, Jacky Rosen, Catherine Cortez Masto, it’s, ” Ernie Tedeschi, Biden, , Erica York, ” York, Tedeschi, Ted Pappageorge, , Pappageorge, Bethany Khan, CNN’s Aaron Pellish Organizations: CNN, Republican, Social Security, Democratic, Yale University, Budget, White House Council, Economic Advisers, Tax Foundation, Culinary Workers Union Local, Culinary Union Locations: Las Vegas, Ted Cruz of Texas, Nevada, York
For a regular theatergoer, a recent July evening in rural Wisconsin was peak surreal. From my seat, I could see audience members leaning in, transfixed by those unamplified voices. “They’re here to listen,” Brenda DeVita, the artistic director of American Players Theater, said of the faithful who flock to Spring Green, about an hour west of Madison. A.P.T., in its 45th season, describes itself as a language-based company, which explains why it has doubled down on idiosyncratic choices in the current theatrical landscape. Another is eschewing mics.
Persons: didn’t, , Brenda DeVita Organizations: American Locations: Wisconsin, transfixed, Madison, A.P.T
Sherpas will soon use drones to remove trash from Mount Everest's slopes. Everest's peak has become a massive garbage dump with 50 metric tons of waste annually. Chinese drone manufacturer DJI developed the "heavy lifter" high-altitude drones. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Visitors have left an estimated 50 metric tons of waste on Everest.
Persons: Sherpas, DJI Organizations: Service, Business Locations: Everest's, Nepal
Tourists are flocking to Costa Rica, with visitors trying to get a taste of the Blue Zone lifestyle that promises better-than-average health and longevity. Researchers from Stanford have studied the Nicoya Blue Zone. "It's not uncommon to see people in Nicoya live to be in their 90s, but we're seeing that number slip back down into the 80s." AdvertisementStill, if you're in the region, you will probably see a lot about the Blue Zone as a selling point driving more tourism. "A lot of people are using it for their business — Blue Zone this, Blue Zone that — I'm sure they know what it means, but the lifestyle is something that's fading, unfortunately, because it was all the old-timers keeping it alive," Jones told BI.
Persons: Costa, Thomas Jones, it's, , Jones, Juan Gabriel, Gabriel, he's, David Rehkopf, Luis Rosero, there's Organizations: Service, Central, Business, Tourism, Bahia Rica, Stanford, Stanford Medicine Magazine, Stanford School of Medicine Locations: Costa Rica, Nicoya, Central American, Paquera, Germany, Spain, France, Norway, Bahia, Costa Rican
The U.S. lawsuits filed in DC Superior Court Monday shine a spotlight on the supply chains of some U.S. companies operating in the Mexican avocado industry. Reuters could not independently verify the accounts from the local residents or Climate Rights International’s findings. “They have even gone to destroy avocado orchards,” said Claudia Alejandra Sanchez, an activist for Michoacán’s Purepecha Indigenous people. Reuters reviewed copies of letters shared by Climate Rights International. Most of those companies have publicly pledged to adhere to sustainable supply chains in compliance with local laws.
Persons: Del, Richman, Mexico Ken Salazar, avocados, , Claudia Alejandra Sanchez, Michoacán’s, Guardian Forestal, ’ avocados, ” Daniel Wilkinson, Climate Rights International’s, Alejandro Mendez, Savas Melchor Gómez, deforest, Alfredo Ramírez, ” Ramirez Organizations: Reuters, U.S, Organic Consumers Association, Inc, Produce Inc, West Pak, DC, Rights, Climate Rights International, Richman Law, U.S . Department of Agriculture, Climate Rights, Residents, Foods, Costco, Guardian, Pak, Trade, Locations: Madero, Mexico’s, United States, Minnesota, U.S, West, Irvington, N.Y, Mexico, Washington, Michoacán, Jalisco
CNN —Slovakian photographer Petra Basnakova made a series of remarkable and personally transformative discoveries during her three-year-long journey among Palestinian Bedouin families. Petra BasnakovaIn the foreground, the Bedouin community of Jabar Al-Bab; behind it, the Israeli settlement of Ma'ale Adumim. In her book, Basnakova reminisces over a serene Ramadan night when Nadia, a Bedouin matron and a prominent figure in Basnakova’s journey, thanked her for being a bridge of empathy between Palestinian Bedouin and the rest of the world. And by everything, I mean they have hope that one day they will be finally free.”Nawal is part of the Rashayda Bedouin community near Jericho. Petra Basnakova
Persons: Petra Basnakova, ” Basnakova, “ I’ve, , , Nabi Musa, Petra Basnakova Basnakova, , Basnakova, Besnakova, Nadia, Petra, Ma'ale Adumim, lazing, Nawal, Nawal's, Al, Petra Basnakova Issa Mohammad Jamal Organizations: CNN, United Nations, West Bank, Locations: Slovakian, Sand, Jerusalem, Europe, Nabi, Petra, Negev, Gaza, Israel, Jericho, Jabar Al, Ma'ale, Palestine, Palestinian, Jabal Al, Jabal
Tucked between the towering Blue Mountains and azure Caribbean Sea, the White Witch Golf Course is 6,758 yards of green serenity in one of Jamaica's bubbliest resort towns. Rose Hall Developments Rose Hall Great House is the jewel in the estate's crown, a plantation mansion that had fallen into ruin before American businessman John Rollins purchased the 7,000-acre plot in the 1960s and restored the building to its colonial-era opulence. Rose Hall DevelopmentsAnnie supposedly murdered her husband to assume ownership of Rose Hall, which she went on to run with an iron fist. You can’t miss it.”Palmer's ghost is said to roam the fairways of the White Witch golf course on horseback. The White Witch course – which had cost some $8.5 million to build – was forced into contingency planning, but rebounded over the subsequent decade.
Persons: Johnny Cash, Rose, Annie Palmer, , Cash, Cinnamon, ” Cash, Rose Hall, White, John Rollins, Rollins, Edward Burke, Anna Nordqvist, Kevin C, Cox, Usain Bolt, James Bond superfans, Roger Moore, Bond, Baron Samedi, Keith Stein, Stein, it's, Palmer, Baron, James Bond, Annie Mary Paterson, Paterson, John Palmer, Hall, Hall Developments Annie, ” Stein, Takoo, Playtime, , Benjamin Radford, Radford, Rose Hall’s, ” Radford, can’t, , Waddell, James Castello, Herbert G, Geoffrey S, Yates, Rosa Palmer, Kelly, née Paterson, ” Palmer, “ She’s, “ it’s Organizations: CNN, Rose Hall Great House, Rose Hall, Rose, Rose Hall Developments Rose, Great, Jamaica LPGA, White Witch, Hall Developments, Inquirer, Jamaica Archives Locations: Caribbean, Montego Bay, American, Swedish, Toronto, Montego, Haiti, British, , Jamaica, Delaware, Palmyra, Bonavista, Jamaican, , Inverness
The preacher stood wild-eyed before his flock, swaying to a gospel choir. His pompadour stood tall, his voice was thunderous, and his all white suit perfectly matched the heeled white loafers he was wearing on his feet. Behind them hung a 14-foot high photo of Earth, the very reason this preacher, choir and congregants had gathered in a converted storefront in Manhattan’s East Village one Sunday in July. “We’re all aware at some level in our bodies that the Earth is off the charts,” Mr. Talen intoned to the 70 or so people there. “We are living inside of the time right now that they have been warning us about.”
Persons: pompadour, Billy Talen, , ” Mr, Talen intoned, Locations: Manhattan’s
Kengo Enomoto started posting Japan-focused travel content on YouTube during pandemic restrictions. As tourism booms in Japan, travelers flock to towns like Hakone and Fujikawaguchiko to see Mount Fuji. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen pandemic restrictions impacted the English school that Kengo Enomoto ran for doctors, he decided to try content creation. The 44-year-old, who grew up on the outskirts of Tokyo, started the YouTube channel @tokyokenchan in 2021, where he regularly posts videos about his country.
Persons: Kengo Enomoto, , Enomoto Organizations: YouTube, Mount, Service, Business Locations: Japan, Hakone, Fujikawaguchiko, Tokyo
Just 20 years ago journalists covered the tech industry "like it didn't matter, like it was this hobbyist, interesting, plucky thing." The pro-tech media gives tech's main characters the chance to write their way back to the original storyline. Trae Stephens, a partner at Founders Fund, described Pirate Wires as a kind of daily affirmation for Silicon Valley. Related storiesTrae Stephens, a partner at Founders Fund, described Pirate Wires as a kind of daily affirmation for Silicon Valley. Of the members of the news media I talked to about pro-tech media, some were backhandedly laudatory.
Persons: Mike Solana, Solana, Peter Thiel, , David Sacks, Jason Calacanis, Chamath Palihapitiya, David Friedberg, Elon Musk, Sam Altman, Tucker Carlson, Donald Trump, There's, Coogan, John Coogan, Andreessen Horowitz, Marc Andreessen, they're, Balaji Srinivasan, Mark Zuckerberg, Donald Trump's, Tyler Le, Sam Bankman, Warren Buffett, Trae Stephens, Andreessen, Palmer Luckey, It's, Dick Lucas, Lucas, Joe Rogan, Kamala, Stephens, Packy McCormick, Taylor Lorenz, Ryan Mac, Kevin Roose, Jesse Singal —, Casey Newton, Casey isn't, Casey, Newton, Erik Torenberg, Anthony Fauci, Ellen Pao, Katherine Maher, George Soros, Joe Biden, Chesa Boudin, Boudin, Gavin Newsom, Palihapitiya, Sacks, Trump, JD Vance, Brian Merchant, Ben Smith, Eric Newcomer, he's, Lulu Cheng Meservey, Balaji Srinivasan's, Zoë Bernard Organizations: Fund, Tech, Founders Fund, Apple, Elon, Elite, Sequoia Capital, Pirate, Penguin Group, Big Tech, Card Industry, Washington Post, TechCrunch, Media, NPR, Google, Disney, Twitter, Republican National Convention, Bloomberg, monetization, San, Business Locations: San Francisco, Substack, Silicon Valley, New York, Silicon, Solana, Miami, Francisco, California, Los Angeles
When American swimmer Emma Weber lost one of her swim caps in the pool, someone needed to fish it out. And it was up to the aforementioned hero lifeguard to plunge into the pool in front of thousands of fans to do the retrieval. Who do you call when a swim cap falls in the pool? “This situation is common at swimming competitions,” a Paris 2024 spokesperson told CNN. For a brief moment on Sunday, we had a look of what that might be like.
Persons: Paris CNN —, Emma Weber, ove, C, rena, ike Organizations: Paris CNN, La, CAP, aris Locations: uman
Read previewAffordable homes are already rare in this cutthroat housing market, so finding a fairly priced property in a city with promising job prospects may seem like an impossible task. While property prices are no longer surging, they're still elevated, as are mortgage rates. "In-demand, affordable markets, such as those on the Wall Street Journal/Realtor.com Housing Market Ranking list, have seen prices climb, especially high relative to pre-pandemic prices." Homes in those standout cities also cost 6% more than last year, while the rest of the US had flat home prices. Within that group, there were 16 real-estate markets where homes were at least $150,000 less than the national average that also had an unemployment rate at or below 4%.
Persons: , Realtor.com, Hannah Jones, Danielle Hale, Jones, Hale Organizations: Service, Business, Street Journal, National Association of Realtors, Wall Street Locations: Realtor.com
Chuo Ward, Tokyo, Japan - February 23, 2018; Top luxury shopping streets with multi colored neon signs. For the first half of the year, luxury group LVMH this week reported " exceptional growth in Japan arising in particular from purchases made by Chinese travelers." SHANGHAI — Luxury brands are seeing a surge in sales in Japan, largely driven by purchases from Chinese travelers taking advantage of a weak yen, according to earnings results this month. The income segment covers families in mainland China earning at least 30,000 yuan a month ($4,140, or about $50,000 a year). besides Hong Kong, across most luxury brands."
Persons: Yves, Yves Saint Laurent, Trip.com, Xiao Hong Shu, netizen, Oliver Wyman, Louis Organizations: Yves Saint, Burberry, U.S, Federal Reserve, Bank of Japan, South, Japan National Tourism Organization, CNBC Locations: Chuo Ward, Tokyo, Japan, Ginza, China, Southeast Asia, SHANGHAI, South Korea, Weibo, Sapporo, Hong Kong, Malaysia, France, Asia
Costco opened its first location in Seattle in 1983, building off Price Club's warehouse format. Today's company is the product of a 1993 merger between Costco and Price Club, which opened in 1976. Costco provided Business Insider with historical photos of the chain's inaugural warehouse. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Costco of today is in fact the result of a 1993 merger between Costco and its predecessor, Price Club, which was founded in 1976 by legendary entrepreneur Sol Price.
Persons: , Sol Price Organizations: Costco, Price Club, Service, Business Locations: Seattle, Price
Opening Ceremony like no-otherThe Opening Ceremony of the Paris Olympics is set to take place on July 26 and will be the first ever held on a river. For years, French officials had boasted that some 600,000 people would attend the Opening Ceremony, but that number has been slashed due to safety concerns. He said a “strictly controlled” zone alongside the banks of the river will be closed off before the Opening Ceremony and anyone entering into it would be checked. The Opening Ceremony will be held alongside the banks of the River Seine. The Stade de France is where track and field events and Rugby Sevens matches will take place at the Paris Olympics.
Persons: Gérald Darmanin, Darmanin, Nicolas Nordman, , Gonzalo Fuentes, Nordman, Denis, Dale Buckner, ” Buckner, ” Darmanin, , Eric Chasboeuf, Thomas Padilla, “ I’ve, ” Chasboeuf, Buckner Organizations: CNN, Summer, Games, Palestinian, Atlanta Games, Reuters, Paris, Paris Mayor, Olympic, Stade de France, Rugby Sevens, Global Locations: Paris, France, Saint
"We were like, 'Oh, look at that cute little church," O'Mara, a 39-year-old real-estate agent, told Business Insider. AdvertisementThey didn't think of the chapel again until O'Mara stumbled upon it when scanning real-estate listings for work. The Dunnigans turned the chapel into an event space and an Airbnb that they said brings in $40,000 in revenue a year. The chapel was built by volunteers in the early 1900s to be a place of worship for Norwegian-speaking Lutherans. Paulette Hagen Simple Website CreationsThey then found a local contractor whose father had built church altars.
Persons: , O'Mara, Adam Dunnigan, " O'Mara, Adam, Dunnigans, Paulette Hagen, wouldn't, Adam's, they've, — O'Mara Organizations: Service, Detroit, Business Locations: Detroit Lakes , Minnesota, Minnesota, Fargo , North Dakota, Minneapolis, Audubon, Detroit Lakes, Portugal
"Twister," starring Helen Hunt and Bill Paxton, topped the box office in 1996. The movie proved the allure of CGI-fueled disaster movies, featuring iconic scenes like a flying cow. Here are the best red carpet photos from the film's premieres. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen "Twister" came out in 1996, audiences couldn't get enough of Helen Hunt and Bill Paxton as storm-chasers trying to run from destructive tornadoes.
Persons: Helen Hunt, Bill Paxton, , couldn't Organizations: Service, Business
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