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☆ Bud Light loses more ground, slipping to No. 3 in America
▼ + stars: | 2024-07-18 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Bud Light, formerly the top-selling beer in the United States, has had a tough year since a boycott upended the industry. Modelo Especial, made by rival Constellation Brands, remains the top-selling beer at retailers in the US after surpassing Bud Light last year. For the past four weeks ending on July 6, Bud Light captured 6.5% of beer dollar sales at retail stores compared to 7.3% for Michelob Ultra, NIQ data shows. Michelob Ultra’s rise to the top isn’t solely because of the decline of Bud Light. For Bud Light, its marketing efforts pivoted to win back conservatives.

Persons: Bud Light, leapfrogged Bud, Bud Light’s, influencer Dylan Mulvaney, It’s Organizations: New, New York CNN, Anheuser, Busch, Especial, Constellation Brands, Modelo, Industry, Copa America soccer, Team USA, US, UFC Locations: New York, United States

☆ Pernod Ricard is ditching wine brands as the world drinks less
▼ + stars: | 2024-07-17 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Pernod Ricard is selling most of its wine brands, as wine consumption is falling globally, and will instead focus on growing its champagne and premium spirits labels, including in the United States. The deal comes after wine consumption globally hit a 27-year low last year, according to an estimate by the International Organisation of Vine and Wine (OIV), an industry group. “The divestment (by Pernod Ricard) makes sense as the segment has been underperforming for a while now and the global wine market is still challenging,” Sarah Barrett, the executive editor of Wine & Spirits Daily, a US-based trade publication, told CNN. Pernod Ricard is also doubling down on American whiskey. Falling wine consumption globally has collided with severe pressures on wine production, forcing many vineyards in Europe to close their doors.

Persons: London CNN — Pernod Ricard, Jameson, Gin —, Pernod Ricard, St Hugo, Stoneleigh, ” Sarah Barrett, Barrett, ” Richard Black, Jordan Valinsky Organizations: London CNN, Wine Holdco, International Organisation of Vine, Campo Viejo, Consumers, Wine, Daily, CNN, distillers, Wine Estates, North American Distillers Locations: United States, Australia, New Zealand, Spain, Orlando, Brancott Estate, Campo Viejo, Ysios, Tarsus, India, Campo, China, US, Europe, New York

☆ Streetwear brand Supreme is getting a surprising new owner
▼ + stars: | 2024-07-17 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Supreme, the trendy streetwear clothier adored by celebrities and cool kids alike, has been sold to an eyewear manufacturer for substantially less than it sold for just four years ago. Italian company EssilorLuxottica announced Wednesday that it’s buying Supreme for $1.5 billion in cash from VF Corp. (VFC), the parent company of Vans and Dickies, which bought the brand for $2.1 billion in 2020. Supreme “perfectly aligns with our innovation and development journey, offering us a direct connection to new audiences, languages and creativity,” EssilorLuxottica said in a statement. The company added that the brand will have its “own space” in its portfolio and marks its first-ever apparel brand acquisition. “Buying a streetwear brand at a time when that aesthetic has gone off the boil is risky, and it is not clear what EssilorLuxottica intends to do to revive Supreme’s fortunes,” Saunders said.

Persons: EssilorLuxottica, ” EssilorLuxottica, Oliver Peoples, Ban, Oakley, Neil Saunders, ” Saunders Organizations: New, New York CNN —, VF Corp, Vans, Chanel, Gabbana, Carlyle Group, Corp, CNN, ” Observers Locations: New York

☆ The iconic Mirage in Las Vegas is closing today after 34 years
▼ + stars: | 2024-07-17 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —The Mirage Hotel and Casino on the Las Vegas Strip is closing Wednesday, ending 34 years in business. It will reopen in 2027 as Hard Rock Las Vegas, with a soaring 700-foot-tall hotel tower in the shape of a guitar, similar to its Florida property. Architects told CNN affiliate KSNV-TV that the tropical design created by Wynn was meant to resemble an oasis in the chaotic Las Vegas Strip. MGM Resorts bought the Mirage from Wynn in 2000 and sold it in 2022 for more than $1 billion to Hard Rock International. It’s the second time Hard Rock will have a presence in Las Vegas, with the brand previously owning the now-Virgin Hotel off the Strip.

Persons: Steve Wynn, Wynn, ” Mirage, Paul Steelman, Siegfried Organizations: New, New York CNN, Las, luxe, Bellagio, Architects, CNN, ”, NBC, Vegas, MGM Resorts, Wynn, Virgin Hotel Locations: New York, Casino, Nevada, Las Vegas, Florida

☆ Burberry CEO is out after company warns about its profit
▼ + stars: | 2024-07-15 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —British luxury brand Burberry is replacing its chief executive following another disappointing quarter in which sales plunged more than 20%. Jonathan Akeroyd is leaving Burberry with “immediate effect,” the company said in its earnings release Monday, and replacing him with Joshua Schulman, a luxury wear veteran that has held CEO roles at Coach and Michael Kors. A global slowdown on spending on luxury goods has also forced Burberry to issue a profit warning, and it scrapped its dividend. “There is a sense that Burberry has been on the back foot and that Jonathan Akeroyd’s revitalization plans have largely failed to stop the rot,” Saunders told CNN. “A course correction has been needed for some time and Burberry is hoping a new CEO can deliver this.”

Persons: Jonathan Akeroyd, Joshua Schulman, Michael Kors, Akeroyd, Burberry, Gerry Murphy, ” Murphy, “, Neil Saunders, Jonathan Akeroyd’s, ” Saunders, ” Organizations: New, New York CNN, Burberry, London Stock Exchange, GlobalData, CNN Locations: New York

☆ Google is close to making its biggest acquisition ever
▼ + stars: | 2024-07-15 | by ( Matt Egan | Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN. A takeover of Wiz, which makes cybersecurity software for cloud computing, would represent a major bet by Google on cybersecurity, marking the tech giant’s biggest-ever acquisition. Discussions between Google and Wiz began after the startup raised $1 billion from venture capital investors earlier this year, the source said. Google Cloud is central to the company’s efforts to diversity revenue beyond its core search advertising business. Notable customers include BMW, Slack and Salesforce, and it works with major cloud companies including Amazon, Microsoft and Google.

Persons: Wiz, Dan Ives, Biden, Trump, Ives, — Assaf Rappaport, Ami Luttwak, Yinon Costica, Roy Reznik, Slack Organizations: New, New York CNN, Google, CNN, Wiz, Wall Street, Motorola, Microsoft, Wedbush, White, Federal Trade Commission, Big Tech, Israel Defense Forces, Fortune, BMW, Amazon Locations: New York, New York City

☆ BlackRock pulls commercial that included Trump rally shooter
▼ + stars: | 2024-07-15 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Investment giant BlackRock is pulling an ad that included Thomas Crooks, the gunman who shot at Donald Trump, injuring the former president and killing an attendee at a rally near Pittsburgh on Saturday. “In 2022, we ran an ad featuring a teacher from Bethel Park High School, in which several unpaid students briefly appeared in the background, including Thomas Matthew Crooks,” a spokesperson for the company said Sunday. BlackRock said the assassination attempt on former President Trump was “abhorrent” and is “thankful” that he wasn’t seriously injured. BlackRock is a major investor in gun companies, including Sturm Ruger and American Outdoor Brand, the owner of Smith & Wesson. In quarterly earnings reported Monday, the world’s largest money manager said its assets under management had swollen to a record $10.6 trillion.

Persons: Thomas Crooks, Donald Trump, “, Thomas Matthew Crooks, ”, Crooks, BlackRock, Trump, wasn’t, Sturm Ruger Organizations: New, New York CNN — Investment, Bethel Park High School, BlackRock, Brand, Smith & Wesson Locations: New York, Pittsburgh, Bethel

☆ Premarket trading: US markets are steady following assassination attempt on Trump
▼ + stars: | 2024-07-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —US stock futures barely budged after an assassination attempt on former President Donald Trump on Saturday, signaling calm in the markets as Trump survived the incident. Dow futures rose 65 points, or 0.2%, while S&P 500 futures rose 0.1% and Nasdaq Composite futures were unchanged. On Saturday, the former president was shot in the ear during his rally in Butler, Pennsylvania, in what the FBI says was an assassination attempt. Markets crave stability, and an assassination attempt against the presumptive nominee might have thrown that into chaos. But Trump appears to have escaped with mostly superficial injuries, and the market’s thesis of the race hasn’t changed: Trump remains the frontrunner to become the next president.

Persons: Donald Trump, Trump, Joe Biden, Morgan Stanley, Goldman Sachs Organizations: New, New York CNN, Dow, Nasdaq, Trump, Republican National Convention, GOP, Republican, CNN, BlackRock Locations: New York, Butler , Pennsylvania, Milwaukee

☆ Stop & Shop is closing 32 locations. Here’s where
▼ + stars: | 2024-07-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Stop & Shop is closing 32 underperforming grocery stores across the US northeast as part of the company’s efforts to improve its financial performance. Shoppers are also being squeezed by higher prices at the grocery store, with food prices experiencing modest upticks last month, according to the newest inflation report. Ahold Delhaize, the chain’s Dutch parent company, revealed the locations Friday adding that they will close in early November. Stop & Shop said it “remains committed to serving its communities through other store locations, online shopping and home delivery services.” Employees impacted by the closures will be offered other opportunities in the company. In addition to operating Stop & Shop, Ahold Delhaize owns Food Lion and Giant grocery stores in the US.

Persons: ”, Gordon Reid, Ahold Delhaize, Albertson’s, “, Delhaize, Newton, Jackson, Johnston, Pittman Organizations: New, New York CNN, Aldi, Kroger, Federal Trade Commission, ” Employees, Food, Here’s, St, Stamford, Plymouth St, Needham St, Highway, Boston Turnpike, Cooley St, Paterson, Edison, Howell, Phillipsburg, Fulton, Sanford, West Haverstraw Rhode, Pittman St Locations: New York, Dutch, New Jersey, Massachusetts, Connecticut, Rhode Island, Ansonia, Danbury, Bridgeport, Milford, High, Torrington Massachusetts, North Montello St, Brockton, Plymouth, Halifax, Needham, St, Pembroke, Raynham, Shrewsbury, Cooley, Springfield, Lincoln St . Worcester New Jersey, Franklin Township, County, Piscataway, Richmond, Pleasant Beach, Ringwood New York, Brooklyn, Hempstead Turnpike, East, ., Hempstead, Mt, Vernon, West Haverstraw, Providence, Eastside

☆ Huma Abedin is engaged to George Soros’ son Alex
▼ + stars: | 2024-07-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Huma Abedin, former aide to former Secretary of State Hillary Clinton, is engaged to Alex Soros, son of billionaire liberal donor George Soros. Abedin, 47, and Soros, 38, are both familiar names to anyone who follows politics and business. Abedin has worked with Hillary Clinton at the White House, Senate, State Department and in her private life for several years. Meanwhile, Soros leads the Open Society Foundations and political action committee, a charitable organization that donates to liberal causes. Vogue notes that Soros will be stepfather to Abedin’s son from her marriage to Weiner.

Persons: Huma Abedin, Hillary Clinton, Alex Soros, George Soros, ” Soros, Soros, Abedin, Anthony Weiner, George, They’ve, Abedin’s, Weiner, wasn’t Organizations: New, New York CNN, Vogue, White, State Department, Democratic, Society, Forbes, House Locations: New York, Abedin

☆ Starbucks is giving away a free gift for one day only
▼ + stars: | 2024-07-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Starbucks is hoping to attract customers with a little gift: a free reusable straw. The giveaway is part of Starbucks’ broader efforts to become more sustainable and hopefully generate sales. Starbucks said that the reusable straws are “compatible with the Starbucks cold cup lid and most reusable Starbucks cold cups.” Its locations phased out plastic, disposable straws in 2020 and offer biodegradable straws with “sippy cup” lids in their place. Starbucks doesn’t often offer giveaways, other than its yearly handout of free plastic red cups during the holiday season. The chain also is rolling out new cold cups that use up to 20% less plastic compared to the current version.

Persons: Uber, Laxman Narasimhan Organizations: New, New York CNN, Starbucks, Sustainability Locations: New York, Canada

☆ New York University settles lawsuit over antisemitism for undisclosed amount
▼ + stars: | 2024-07-10 | by ( Jordan Valinsky | Celina | ) edition.cnn.com time to read: +2 min

New York CNN —New York University has settled a federal lawsuit with students over antisemitism on campus for a confidential amount, the university said in a statement Tuesday. The settlement brings to an end a lawsuit filed in November 2023 from three Jewish students over NYU’s alleged failure to enforce its anti-discrimination policies, claiming their civil rights were violated over the university’s handling of discrimination and harassment against Jewish students. The suit claimed there had been a “steadily increasing incidence of antisemitic attacks at NYU” over the past 10 years and said the university has failed to enforce its own policies to protect Jewish students. “NYU, by entering into this historic settlement, is to be commended for taking a leading position among American universities in combating antisemitism on campus. Other universities should promptly follow their lead,” said Marc Kasowitz, an attorney for the plaintiffs, in the joint statement.

Persons: “, Linda Mills, Bella Ingber, Sabrina Maslavi, Saul Tawil, ”, Marc Kasowitz Organizations: New, New York CNN — New York University, Jewish, NYU, Civil, NYU ”, “ NYU Locations: New York, Israel, Gaza, “

☆ Saks Fifth Avenue is buying Neiman Marcus with Amazon’s help
▼ + stars: | 2024-07-05 | by ( Nathaniel Meyersohn | Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Saks Fifth Avenue and Neiman Marcus are merging to create a luxury department store empire. “We’re thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman,” said HBC CEO Richard Baker in a release. Saks has 39 stores, while Neiman Marcus, which filed for bankruptcy in 2020, has 36 stores. Neiman Marcus also owns Bergdorf Goodman. Both of them will report to Baker, who becomes the executive chairman of Saks Global.

Persons: New York CNN —, Neiman Marcus, Bergdorf Goodman, “ We’re, ”, Richard Baker, Marc Metrick, Ian Putnam, Baker, Louis Vuitton, Michael Kors, ” Neil Saunders, “, Amazon, Saunders Organizations: New, New York CNN, New York CNN — Saks Fifth, Saks, HBC, Saks Fifth, Saks Global, HBC Properties, Canadian, Brands, Neiman, Capri, GlobalData, Federal Trade Commission, FTC Locations: New York, Hudson’s, Glendale , California, Columbus , Ohio

☆ Gen Z wants flavorful drinks. Here’s how Big Beer is trying to attract them
▼ + stars: | 2024-07-04 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +7 min

That’s a problem for Big Beer, which is dealing with flat sales, declining volume and a fickle generation of younger drinkers who are completely ditching the bottle or preferring anything but a regular beer. It’s a non-carbonated drink because “bloating that may come from carbonation is considered a top barrier” for younger drinkers and the trend of “decarbonizing” drinks is blowing up on the app. Last year, it acquired Blue Run Spirits, a cult favorite high-end bourbon and rye whiskey brand, in light of US spirit sales surpassing beer sales. Its aptly titled “Beyond Beer” category is currently a $1.5 billion part of its global business and is helping attract younger, legally aged drinkers. Despite younger drinkers’ hesitance with buying beer and flat sales, Big Beer companies aren’t facing an existential threat.

Persons: youngs, Gen, NIQ’s Kaleigh Theriault, “, ” Theriault, Gallo, Mark Anthony Brands, Miller, flavorful, TikTok Constellation, Corona, ”, Saúl Trejo, TikTok, Molson Coors, Molson, ” NIQ’s Theriault, Bud Light, seltzer, Jason Lowrie, it’s, Bud, Bud Light Seltzer, Dylan, ’, “ Young, ” Bryan Roth Organizations: New, New York CNN — Beer, CNN, Beverages, Big Beer, Molson Coors Beverage Company, Modelo, Constellation Brands, Anheuser, Busch InBev, TikTok, Corona, Corona Refresca, Molson Coors, Molson, “ Suppliers, Busch, Feel Goods Company Locations: New York, Corona, carbonation

☆ Bob’s Stores is closing all of its stores after nearly 70 years in business
▼ + stars: | 2024-07-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Bob’s Stores, a discount store located in northeast America, is shutting down after seven decades in business. “We regret that our financial position necessitated the liquidation of Bob’s Stores,” Dave Barton, president of Bob’s Stores, said in a press release. All locations are offering steep discounts on everything the company sells, ranging from shoes to clothing. In 2022, Bob’s Stores was sold to GoDigital Media Group. Bob’s joins a growing number of retail bankruptcies in 2024, spurred from a slowdown in consumer spending and rising inflation.

Persons: Dave Barton, “ Bob’s, ” Bob’s, Bob’s Organizations: New, New York CNN, Bob’s, Marshalls, GoDigital Media Locations: New York, America, Connecticut, Massachusetts , New Hampshire , New Jersey , New York, Rhode Island

☆ State Farm again is seeking huge increases in home insurance rates in California
▼ + stars: | 2024-07-02 | by ( Jordan Valinsky | Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —State Farm is seeking increases of as much as 52% for some of its residential insurance rates in California, which could ramp up the financial burden for many homeowners and renters in the state’s troubled insurance market. It’s the third major change for State Farm in California within the last year. “State Farm General’s latest rate filings raise serious questions about its financial condition,” California Insurance Commissioner Ricardo Lara said in a statement. A few months following State Farm’s decision to stop offering new home insurance, Farmers Insurance also started limiting new homeowners insurance policies in California, citing high costs and wildfire risks. Farmers is the second-largest provider of homeowners insurance in the state, after State Farm.

Persons: Ricardo Lara, ” Lara, “, Farmer’s, – CNN’s Cheri Mossburg Organizations: New, New York CNN, State Farm, Farm, California Department of Insurance, Farmers Insurance, Farmers Locations: New York, California, ”, Florida

☆ Investors just got an inflation wakeup call. Will they answer?
▼ + stars: | 2024-07-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Inflation rates in Canada, the EU and Australia have popped higher in recent months. But that disconnect appears to be fading as inflation rates in the US continue to ease. The US also had a recent scare as inflation rates ticked higher. But after a year of the Fed holding interest rates steady at a 23-year high, inflation rates in the United States are once again declining. High inflation readings around the globe are concerning investors, José Torres, senior economist at Interactive Brokers, told CNN.

Persons: ”, Brent Schutte, Schutte, José Torres, Torres, payrolls, Chewy, Keith Gill, Krystal Hur, Gill, Ryan Cohen, Jordan Valinsky, CSSE Organizations: CNN Business, Bell, New York CNN, EU, Federal, Federal Reserve, Bank of Canada, Northwestern Mutual Wealth Management, Interactive Brokers, CNN, Investors, Bank for International, BIS, Securities, Exchange, GameStop, Soul Entertainment, BBC, Sony Pictures, Walmart, Walgreens, Apollo Global Management, Sony, Netflix Locations: New York, Canada, Australia, United States, Europe, Redbox

☆ FTC unanimously moves to block $4 billion merger of mattress giants
▼ + stars: | 2024-07-02 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

New York CNN —The Federal Trade Commission unanimously voted to block mattress maker Tempur Sealy’s purchase of Mattress Firm on Tuesday. Mattress Firm was already dealing with its own financial issues, including a 2018 bankruptcy. In a statement, Tempur Sealy said the bedding industry is “highly competitive” and only a small fraction of brick-and-mortar storefronts are Mattress Firms. “Tempur Sealy has been working constructively with the FTC to secure regulatory approval for this transaction and is disappointed that the FTC has initiated litigation. Correction: A previous story misstated the Tempur Sealy portfolio.

Persons: Tempur Sealy, –, ”, Henry Liu, Foster, Casper, Serta Simmons, “ Tempur Sealy, “, CNN’s Jordan Valinsky, Sealy Organizations: New, New York CNN, Federal Trade, United, FTC, Competition, Pedic, Sealy, Amazon, Innovation, Inc Locations: New York, United States, FTC’s, Stearns

☆ Redbox owner Chicken Soup for the Soul files for bankruptcy
▼ + stars: | 2024-07-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —The parent company of Redbox, those distinctive, red-colored kiosks at grocery stores that sell or rent DVDs, has filed for bankruptcy after enduring months of financial struggle. Filing for Chapter 11 bankruptcy could help the company fix those issues if its plans are approved by a court in Delaware. The company’s publishing arm, which produces those ubiquitous self-help books that were once a worldwide phenomenon, isn’t affected by the bankruptcy filing of its entertainment unit. The number of Redbox kiosks has grown to about 34,000 across the US, largely located at grocery and drug stores. Since its 2002 launch, Redbox has rented its 1 billion discs at prices cheaper than cable, according to its website.

Persons: CSSE didn’t, Redbox Organizations: New, New York CNN, Soul Entertainment, BBC, Sony Pictures, Walmart, Walgreens, Apollo Global Management, Sony, Netflix Locations: New York, Redbox, Delaware

☆ Markets unfazed as Donald Trump has much better debate night than Joe Biden
▼ + stars: | 2024-06-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

London CNN —President Joe Biden had a shaky performance in last night’s presidential debate, triggering panic in the Democrat camp. Former President Donald Trump, meanwhile, repeated multiple falsehoods while doubling down on his record of cutting taxes and hiking tariffs during his first presidential term. If repeated in a second Trump term, many economists fear that kind of agenda could stoke inflation at a critical moment and add to America’s rapidly growing debt mountain. That could pull the typical year-end election relief rally forward, said Ed Clissold, chief US strategist at Ned Davis Research. The US dollar has also been reactive — it edged higher as initial CNN polling found that Trump was viewed as the winner of the debate.

Persons: Joe Biden, Donald Trump, shrugged, ”, Keith Lerner, Barack Obama, Trump, Lerner, Ed Clissold, Ned Davis, Antonio Ernesto Di Giacomo, “, Goldman Sachs ’ Scott Rubner, Jonas Goltermann, Emmanuel Macron, Katie Nixon, France’s, CDK, Ramishah Maruf, Eva Rothenberg, aren’t, they’ve, Scott Campbell, CNN they’ve, Jordan Valinsky, Tim Wentworth Organizations: London CNN, Democrat, Trump, “, Biden, Ned, Ned Davis Research, Investors, Capital Economics, CNN, Renaissance, Northern Trust Wealth Management, CAC, CDK, Auto, Capital City Buick GMC, Bloomberg, Walgreens Locations: France, “, North America, United States, Canada, Berlin , Vermont, Eastern Europe, America

☆ Walgreens will close a ‘significant’ number of its 8,600 US locations
▼ + stars: | 2024-06-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Walgreens is set to close a substantial number of its roughly 8,600 locations across the United States as the company looks to reset the struggling pharmaceutical chain’s business. The company didn’t announce a specific number of store closures, but it said Thursday that it is planning “significant” closures of underperforming stores across America as part of a multiyear optimization program. The closures would focus on locations that aren’t profitable, too close to each other or stores struggling with theft, Wentworth told the Journal. Major drugstore chains, including CVS (CVS) and Rite Aid, have struggled in recent years because of declining profits from filling prescriptions. Wentworth told the Journal it’s losing money on filling those prescriptions.

Persons: Tim Wentworth, Wentworth, “, ” Wentworth, ” Neil Saunders, GlobalData, ” Saunders, drugstores, hasn’t, – CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, Walgreens, Wall Street Journal, Journal, Walgreens ’, CVS, Rite, Amazon, Target, Rite Aid Locations: New York, United States, America, drugstores, VillageMD

☆ Taco Bell enters the value meal wars with its biggest deal ever
▼ + stars: | 2024-06-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —This is the summer of fast food value meal wars, and Taco Bell isn’t sitting back. The chain announced Thursday that it’s entering the battle with one of its biggest deals ever. “We believe that fast food should be a luxury that every one can afford everyday,” said Taylor Montgomery, Taco Bell’s chief marketing officer. He added that its deal offers “full-sized favorites” compared to some of its rivals’ deals that have smaller portions. Like its rivals, Yum has been vocal that some of its problems stem from customers spending less on fast food.

Persons: Taco Bell isn’t, Burger King, ”, Taylor Montgomery, Taco, ’, Montgomery, Yum Organizations: New, New York CNN, Taco, Taco Bell, Taco Bell’s, CNN Locations: New York

☆ Massive AT&T, T-Mobile and Verizon outage for US customers traveling abroad
▼ + stars: | 2024-06-27 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +1 min

AT&T, T-Mobile and Verizon confirmed to CNN that their customers are experiencing intermittent issues while traveling overseas. “We’re one of several providers impacted by a third-party vendor’s issue that is intermittently affecting some international roaming service,” a T-Mobile spokesperson told CNN. “We’re working with them to resolve it.”Meanwhile, Verizon told CNN about 30% of its customers’ calls and data connections from overseas are not going through right now. The issue stems from an international third-party communications provider called Syniverse, which manages international roaming connections for various carriers. “Since the onset of these issues, Syniverse has been working closely with our network partners to restore full service,” the statement said.

Persons: “, Syniverse, CNN’s Jordan Valinsky Organizations: CNN, Mobile, Verizon

☆ With ‘Strands,’ the New York Times has found its next hit game
▼ + stars: | 2024-06-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +5 min

New York CNN —Following the success of Connections and Wordle, the pressure was on for the New York Times to find its next hit game. It “bubbled up as a version of a word search that was true to the New York Times’ games,” Knight said. The Times’ research of its subscribers found that Wordle players also solve word search games, making Strands a natural addition to its lineup. That’s another part of the game, Knight said, because it challenges some people not to use the hints. Times’ Games app lets people play some puzzles, like Wordle and Strands, for free.

Persons: ”, Jonathan Knight, “, ” Knight, Wordle — Tracy Bennett —, Knight, “ There’s, ” Brian Morrissey, ” Morrissey, Growth, “ We’ve, we’re Organizations: New, New York CNN, New York Times, Times ’, Times, CNN, The Times, The, LinkedIn, Hearst, “, ’ Locations: New York

☆ Perkins, the aging diner chain, has a ‘new vibe’ with a different name
▼ + stars: | 2024-06-25 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +6 min

“We felt this was a more modern, fresh and relevant vibe to start connecting with new consumers, while also servicing our guests that are tried-and-true Perkins loyalists.”A rendering of a new Perkins American Food Co., which will debut later this year. Aria Group and Perkins American Food Co. Aria Group and Perkins American Food Co.“We know that value is so critical right now and we’re very mindful of that,” she said. The firm is investing in the classic American brand that’s been marred with financial issues, including two bankruptcies, following a disastrous 2006 merger with Marie Callender’s. “We really feel that this iteration of ‘Perkins American Food Co.’ is going to marry tradition and innovation and keep us true to who we are,” she said.

Persons: Perkins, Toni Ronayne, “, ” Ronayne, Ronayne, It’s, ”, David Henkes, Baby, Marie Callender’s, “ Perkins, it’s, ‘ Organizations: New, New York CNN —, Perkins, “ Perkins, Food Co, CNN, Perkins American Food Co, Aria, Dine Brands, Baby Boomers, Ascent Hospitality Management, Watch, ‘ Perkins Locations: New York, Orlando , Florida, Cincinnati , Ohio

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