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☆ Tupperware might just be the latest meme stock after its shares tripled in a week
▼ + stars: | 2023-07-29 | by ( Ryan Hogg | Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Tupperware might be the latest meme stock after more than tripling in value within a week. Shares in the embattled food container maker more than tripled since July 20 to just over $3, leaving many to wonder whether it might be the latest "meme stock." According to data from Marketwatch, 27% of Tupperware shares that are available to trade have been "shorted" by investors. The amount of short interest in Tupperware has indeed fallen more than a quarter this year amid apparent interest from retail investors. On r/WallStreetBets, the birthplace of the meme stock craze, members were giddily comparing the stock to Bed Bath & Beyond, the now-bankrupt homeware chain that had captivated certain investors since 2021.

Persons: Earl Tupper, didn't, Neil Saunders, Saunders, I've, Tupperware Organizations: Marketwatch, Orlando Business Journal, BlackRock, Orlando Business, Bed Locations: freefall, Tupperware

☆ McDonald's customers are ordering less and switching to value menu items to save money
▼ + stars: | 2023-07-28 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

McDonald's customers are "trading down" to its value items and buying less, execs told investors. Some diners also appear to be switching to McDonald's from full-service restaurants, CEO Chris Kempczinski said. Customers are "trading down" from premium and higher-priced items to core and value items instead, CFO Ian Borden told investors on Thursday, without giving specific examples. Kempczinski told investors in April that fewer customers were ordering fries with their burgers as they cut back on spending. Some households on incomes under $100,000 also appear to be switching to McDonald's from full-service restaurants, Kempczinski said Thursday.

Persons: execs, Chris Kempczinski, Kempczinski, Ian Borden, Borden, Neil Saunders, McDonald's, Grimace Organizations: Service Locations: Wall, Silicon, McDonald's

☆ Jell-O’s new look emphasizes its ‘jiggly goodness’
▼ + stars: | 2023-07-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

The jiggly snack’s logo and packaging are getting a whole new look, their first in a decade, as owner Kraft Heinz looks to revitalize the dowdy brand. Jell-O's current look on the left and new look, on the right. The “O” in the Jell-O logo is getting a bolder look because it’s an “ownable, playful aspect” of the brand. Jell-O sales fell 19% from 2009 to 2013 to $753 million, the Associated Press reported at the time. Last year, the company teased that it was giving the brand a refresh look and increasing its advertisement spend.

Persons: New York CNN —, Kraft Heinz, ”, Neil Saunders, It’s, ” Saunders, Bill Cosby, “, ” Rachel Herz, Saunders Organizations: New, New York CNN, Shoppers, GlobalData, CNN, White, Associated Press, IRI Locations: New York

☆ The 'aspirational' luxury shopper is suffering, but don't expect any deals
▼ + stars: | 2023-07-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

US consumers earning less than $100,000 fueled record profits last year for French luxury group LVMH. These "aspirational" customers are now pulling back on spending as pandemic cash reserves run dry. Important as these shoppers are, don't expect to see huge markdowns from Louis Vuitton and Dior. "The cost of all these initiatives was obviously quite high," Guiony said. Not every luxury brand can pull this strategy off, but it appears LVMH certainly can.

Persons: Louis Vuitton, that's, Christian Dior, Tiffany, LVMH, Jean, Jacques Guiony, Neil Saunders, Saunders, Michael Kors, Guiony, Hitha Herzog, Herzog, Pharrell Williams Organizations: Dior, Service, Louis Locations: Wall, Silicon, Asia, Pont, Paris

☆ Gap hires Mattel president Richard Dickson to be its new CEO
▼ + stars: | 2023-07-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +5 min

New York CNN —Gap has named a new CEO, from toy giant Mattel, nearly a year after its previous leader departed. The retailer announced Wednesday that Richard Dickson, currently Mattel’s president and chief operating officer, will assume the position. First the president of the Gap division and later CEO of the company beginning in 1995, Drexler pushed Gap to expand beyond jeans into khakis and oversaw the creation of the budget-chain Old Navy in 1994. It doesn’t help that Old Navy and Banana Republic are also struggling, adding to Dickson’s challenges. In short, being CEO of Gap is not for the faint of heart,” Saunders said.

Persons: Richard Dickson, He’s, Dickson, ” Dickson, Barbie, Neil Saunders, GlobalData, ”, Chris Blakeslee, Alo Yoga, West, Sonia Syngal, Mickey Drexler, Drexler, Paul Pressler, Glenn Murphy, Peck, Syngal, ” Saunders Organizations: New, New York CNN, Mattel, Jones New, Warner Bros, CNN, Athleta, Republic, Kanye West, Navy, Disney, Gap, Banana Republic Locations: New York, Jones New York, Zara, North America, Peck

☆ Here's what to expect from the Federal Reserve meeting Wednesday
▼ + stars: | 2023-07-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

WASHINGTON, DC - JUNE 21: Federal Reserve Chairman Jerome Powell testifies before the House Committee on Financial Services June 21, 2023 in Washington, D.C. Powell testified on the Federal Reserve’s Semi-Annual Monetary Policy Report during the hearing. Win Mcnamee | Getty Images News | Getty ImagesDespite an improving inflation picture, the Federal Reserve is expected on Wednesday to approve what would be the 11th interest rate increase since March 2022. That would push the upper boundary of the federal funds rate to its highest level since January 2001. But apparently the folks at the Fed think they need one more at least." Likewise, Steven Blitz, chief U.S. economist at Globaldata.TSLombard, said a "dovish hike and talk of soft landings" at Wednesday's meeting would be a mistake for the Fed.

Persons: Jerome Powell, Powell, Win Mcnamee, they've, Kathy Jones, Charles Schwab, Jones, —, haven't, Luke Tilley, that'll, " Tilley, I'm, Andrew Hollenhorst, Steven Blitz Organizations: Federal, Financial, Getty, Federal Reserve, Investors, Open Market, Dow Jones, Investment Advisors, Citigroup Locations: WASHINGTON, DC, Washington ,, Central, —, Wilmington, U.S

☆ 3 trends that will redefine sports media as the industry reckons with layoffs, AI, and more
▼ + stars: | 2023-07-25 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +8 min

More news jobs have already been cut this year than in all of 2022 and 2021, per a firm that tracks layoffs. Industry experts explain the three media trends that could replace traditional sports journalism. Wiacek said that the 18- to 30-year-old demographic is key for traditional media organizations, yet the hardest to reach. "The more traditional media outlets are trying to find ways of attracting that audience," Wiacek said. Hanlon said team communications are essential for growing leagues like the NWSL that can't wait around for classic media coverage to pour in, especially in local markets.

Persons: Andy Challenger, It's, Challenger's, Challenger, Conrad Wiacek, Wiacek, Pat McAfee, CJ McCollum, McAfee, famer David Ortiz, JJ Redick, isn't, Tim Hanlon, Hanlon, They're Organizations: ESPN, New York Times, Sports Illustrated, Warner Bros, The Athletic, NFL Media, Times, Los Angeles Times, Industry, Sports, YouTube, Indianapolis Colts, NBA, famer, Leagues, MLS, LA Times, Associated Press, Minor League Baseball Locations: FanDuel, pickleball

☆ The Grim Reaper is coming for the sports desk. Here's what industry experts say could take its place.
▼ + stars: | 2023-07-20 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +7 min

Industry experts explain the three media trends that could replace traditional sports journalism. But Challenger and other experts say the demand for sports content isn't going anywhere: it's just going to look, and sound, a little different. Wiacek said that the 18- to 30-year-old demographic is key for traditional media organizations, yet the hardest to reach. "The more traditional media outlets are trying to find ways of attracting that audience," Wiacek said. Hanlon said team communications are essential for growing leagues like the NWSL that can't wait around for classic media coverage to pour in, especially in local markets.

☆ Konig: The strength in equities is justified because we're past peak tightening
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKonig: The strength in equities is justified because we're past peak tighteningSkylar Montgomery Konig, Senior Global Macro Strategist at GlobalData TS Lombard, discusses the markets and the Fed's path forward.

Persons: Konig, Montgomery Konig Organizations: GlobalData, Lombard

☆ Premarket stocks: Bank CEOs are already complaining about new regulations they haven't even seen yet
▼ + stars: | 2023-07-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Investors, worried about the economic atmosphere and the recent regional banking collapse, breathed a sigh of relief at the results. Jamie Dimon, head of JPMorgan Chase, commented on the bank’s Friday earnings call that non-bank financial rivals were “dancing in the streets” as regulators get ready to increase bank capital requirements. “This is great news for hedge funds, private equity, private credit, Apollo, Blackstone,” Dimon said of the proposed regulations. The change, they say, will increase the financial system’s resilience following the failures of three regional banks earlier this year. “The capital in the industry is sufficient,” said Bank of America CEO Brian Moynihan on his company’s earnings call Tuesday morning.

Persons: Jamie Dimon, JPMorgan Chase, ” Dimon, ”, Jeremy Barnum, Barnum, don’t, Brian Moynihan, “ They’ve, Morgan Stanley, James Gorman, Elizabeth Warren, Richard Blumenthal, Tammy Duckworth, Martin Gruenberg, “, Taylor Marr, That’s, they’re, Bryan Mena, Neil Saunders Organizations: CNN Business, Bell, New York CNN, Silicon Valley Bank, JPMorgan, Blackstone, of America, CNBC, Valley Bank, Signature Bank, Federal Deposit Insurance, Redfin, Retail, Commerce Department Locations: New York, Silicon, Basel, Massachusetts, Elizabeth Warren , Connecticut

☆ You can thank the American retail consumer for the soft landing
▼ + stars: | 2023-07-18 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Economists this week are embracing a higher probability that the Fed will achieve a "soft landing." A much-hoped-for "soft landing" indeed seems increasingly likely now as inflation cools and the job market remains strong. US retail and food services sales were up 1.6% from April to June, following a slight decline in March. "Consumers are far from depressed, but neither are they in celebratory mood," GlobalData retail analyst Neil Saunders said in a note. As consumer spending accounts for roughly 70% of the US economy, the continued strength in that area has been key to the US outperforming every other wealthy nation in the world.

Persons: —, Jerome Powell, Alastair Borthwick, Neil Saunders Organizations: Fed, Service, Commerce Department, Bank of America, Retailers Locations: Wall, Silicon

☆ Morgan Stanley has tech to thank for what could boost a long-dormant part of its business
▼ + stars: | 2023-07-17 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Morgan Stanley (MS) is set to report quarterly earnings before the opening bell Tuesday. While working on a transition to depend more on wealth management, investment banking is still an important aspect of Morgan Stanley's overall business. Morgan Stanley had a hand in the Cava IPO as a book-runner. It pays us to be patient with the stocks of Morgan Stanley and Wells Fargo, which have been underperformers year-to-date compared to the S & P 500 . Morgan Stanley will likely benefit as companies turn to its investment banking services for ambitious deals.

Persons: Morgan Stanley, There's, Morgan, Morgan Stanley's, Goldman Sachs, Jim Cramer, Jim, Lina Khan, Activision Blizzard, IPOs, Wells, dealmakers, there's, Jim Cramer's, Bing Guan Organizations: Investment, JPMorgan, IB, Federal Trade, Microsoft, Activision, Renaissance Capital, Companies, Semiconductor, ARM Holdings, Silicon Valley Bank, Federal Reserve, Club, Nasdaq, CNBC, Bloomberg, Getty Locations: Cava, Silicon, Wells Fargo, U.S

☆ Bella Hadid's Victoria's Secret campaign sparks debate online as some users slam the brand for 'perpetuating body dysmorphia' while others say that 'skinny people exist too'
▼ + stars: | 2023-07-06 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Bella Hadid is starring in a new Victoria's Secret campaign, provoking a mixed response online. Victoria's Secret overhauled its brand following criticism of its "tone-deaf" image. While many comments on Hadid's post expressed excitement about the campaign, some slammed the brand for "perpetuating body dysmorphia to young women." "Skinny people exist and are allowed to be represented," one person wrote, while others referred to her diagnosis with Lyme disease. Victoria's Secret has majorly overhauled its brand in recent years following criticism of its "tone-deaf" image, including a controversial 2014 ad campaign that featured the slogan "the perfect body."

Persons: Bella Hadid, —, Lyme, Gisele Bündchen, Tyra Banks, Megan Rapinoe, Valentina Sampaio, Martin Waters, Neil Saunders, Waters Organizations: Service, GlobalData

☆ US new vehicle sales rise on strong demand, better supply
▼ + stars: | 2023-07-05 | by ( Pratyush Thakur | ) www.reuters.com time to read: +2 min

Vehicle production took a hit after the pandemic disrupted supply of semiconductor chips and other raw materials, hurting automakers' ability to meet the upsurge in demand for cars, trucks and SUVs. Toyota Motor's (7203.T) North America unit reported a 7.13% rise in U.S. sales to 568,962 units for the quarter ended June. Auto giant General Motors (GM.N), however, surpassed Toyota in the quarter, with a near 19% rise to 691,978 units in the United States. Earlier in the week, FCA US, a unit of Stellantis (STLAM.MI), reported a 6% increase in total U.S. sales. Power and GlobalData estimate total U.S. auto sales to reach 4,116,600 units in the quarter ended June, up 18.2% from a year earlier.

Persons: Cox, Jonathan Smoke, Toyota Motor's, J.D, Pratyush Thakur, Shivansh, Pooja Desai, Shilpi Majumdar Organizations: Toyota, Auto, General Motors, FCA, Tesla Inc, Thomson Locations: United States, America, Bengaluru

For its full fiscal year, Nike's revenue was $51.2 billion, up 10% compared to the prior year. Nike's gross margins fell 1.4 percentage points during the fourth quarter to 43.6%, contributing to the earnings miss. For the last several quarters, Nike has grappled with bloated inventory levels, which have also weighed on its margins. But quarter over quarter, Nike offloaded about $400 million in inventories. Nike has been relying on its wholesale partners to reduce inventory levels.

Persons: Refinitiv, Friend, Matthew Friend, Neil Saunders, Saunders, we're, Macy's, Macy's hasn't, John Donahoe, Donahoe Organizations: Nike, Refinitiv, Nike's Locations: China

☆ Overstock's CEO explains why the surprise decision to rename the brand after bankrupt Bed Bath & Beyond is actually a brilliant move
▼ + stars: | 2023-06-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Overstock.com acquired Bed Bath & Beyond's brand and digital assets for $21.5 million. CEO Jonathan Johnson said the 20-year-old Overstock brand was overdue for an overhaul. Bed Bath & Beyond's Canadian website has already been refreshed with the names of both brands. The Bed Bath & Beyond brand we think will be such a brand." Johnson said the additional Bed Bath & Beyond shoppers — who accounted for more than $1 billion in sales last year — will triple Overstock's existing customer base.

Persons: Overstock.com, Jonathan Johnson, —, Johnson, Neil Saunders, Overstock, Saunders Organizations: Service, Beyond's, Bed, —

☆ GlobalData: Europe is way ahead of the U.S. when it comes to digital regulation
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobalData: Europe is way ahead of the U.S. when it comes to digital regulationCyrus Mewawalla, Head of Investment Research at GlobalData, discusses EU Commissioner for Internal Market Thierry Breton's planned meetings with Elon Musk, Mark Zuckerberg, Sam Altman, and Jensen Huang this week.

Persons: Cyrus Mewawalla, Thierry Breton's, Elon Musk, Mark Zuckerberg, Sam Altman, Jensen Huang Organizations: Investment Research, GlobalData, Internal, Elon Locations: Europe, U.S

☆ Analysis: Why Walmart's new bet on fashion brands, home decor threatens specialty chains
▼ + stars: | 2023-06-15 | by ( Siddharth Cavale | ) www.reuters.com time to read: +5 min

She told Walmart investors its strategy is to "democratize fashion" or convert the company's core, price-conscious shoppers into style-conscious shoppers. It would probably be the rest of the market that should be worried," he said pointing to apparel retailers such as Carhartt. Walmart accounts for 4.6% of the $560.4 billion U.S. apparel market, followed by TJX, Target and Ross at 4.4%, 4.1% and 2.8%, respectively, according to GlobalData. Bankrupt Bed Bath and Beyond was a leader in the home decor and furnishing industry along with furniture chains Ikea and Wayfair. In 2005, Walmart's Metro 7 fashion brand tanked and later designer lines with Max Azria and Norma Kamali also withered.

Persons: Walmart Supercenters, Drew Barrymore, Sofia Vergara, Denise Incandela, George, Ralph Lauren, Rosenblum, Privately, Refinitiv, TJX, Ross, Brandon Maxwell, Clea Shearer, Joanna Teplin, fryer, Sofia Jeans, Vergara, Arun Sundaram, Sundaram, Max Azria, Norma Kamali, Siddharth Cavale, Vanessa O'Connell, David Gregorio Our Organizations: Walmart, Reebok, Saks, Tilly's Inc, Abercrombie, Fitch, Bravo, Netflix, Bed, Amazon.com, Walmart's Metro, Thomson Locations: Bath, U.S, Bed Bath, Walmart's, New York

☆ Metaverse user laughed at Apple Vision Pro's $3,499 price tag and said he'd only be willing to pay $700, report says
▼ + stars: | 2023-06-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

A Metaverse user thinks Apple's eye-watering price tag for its new Vision Pro is laughable. The user told the Financial Times he was only willing to pay around $700 for Apple's new headset. The $3,499 price tag was met with an exasperated response from audience members on Monday. A Metaverse user thinks the high price tag for Apple's Vision Pro headset is laughable. However, its price tag has been somewhat controversial.

Persons: Jiople15, groans, Pete Syme, Anisha Bhatia Organizations: Financial Times, Worldwide Developer Conference, Vision Pro, Apple Locations: Texas

☆ The crowd at the unveiling of Apple's Vision Pro headset let out a collective groan when they found out how wildly expensive it is
▼ + stars: | 2023-06-06 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Apple announced its Vision Pro headset at the WWDC on Monday. There's one product which has been making all the headlines from Apple's WWDC on Monday. The Vision Pro headset marks the tech giant's foray into the metaverse — although the company stayed clear of using that branding. Check out the symphony of boos, groans, and sighs as the Cupertino crowd is told Apple's headset will start at $3,499. "The Vision Pro is Apple's attempt at cracking open the extended reality (XR) door to create an addressable market with iterations of Vision Pro in the years to come."

Persons: WWDC, everyone's, TikTok, Tim Cook, they've, Anisha Bhatia, Apple Organizations: Apple, Twitter, Wii Sports, Nintendo, Senior, Pro Locations: Cupertino

☆ Dollar General customers are turning to food banks, CEO says
▼ + stars: | 2023-06-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Dollar General’s stock just had one of its worst days ever on Wall Street. But Dollar General’s worse-than-expected results point to a more-troubling reality for the nation’s consumer-dependent economy. When Dollar General’s core customers feel strained, they pull back completely. “Unfortunately, our customers are saying they’re having to rely more on food banks, savings, credit cards,” CEO Jeff Owen said on a call with analysts Thursday. Dollar General’s downbeat earnings also underscore the extreme disparity in how inflation is felt among high-income versus low-income shoppers.

Persons: CNN Business ’, Jeff Owen, Owen, haven’t, you’ve, That’s, ”, Neil Saunders, you’ll Organizations: CNN Business, New York CNN, Dollar, Macy’s, Costco, Target, Walmart, National Bureau of Economic Research, Consumers, US Locations: New York, West Elm

☆ White House AI Summit: A 'frank discussion' about ethical innovation
▼ + stars: | 2023-05-30 | by ( Frank Holland | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhite House AI Summit: A 'frank discussion' about ethical innovationOn May 4, 2023, GlobalData Head of Investment Research Cyrus Mewawalla joined CNBC's Frank Holland to discuss the White House AI Summit and the ethical debate surrounding rapidly growing AI technology.

Persons: Investment Research Cyrus Mewawalla, CNBC's Frank Holland Organizations: GlobalData, Investment Research, AI Summit

☆ Dollar Tree shares plunge after company misses on earnings, slashes full-year profit outlook
▼ + stars: | 2023-05-25 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Shares of Dollar Tree plunged more than 16% in intraday trading Thursday after the company fell short of Wall Street's earnings expectations for the most recent quarter and slashed its profit outlook for the full year. On an adjusted basis, the company reported earnings of $1.47 per share, falling below Wall Street projections. Dollar Tree, which runs its namesake banner and Family Dollar, has been in the midst of a turnaround after shuffling up its executive leadership and raising prices. While other value-oriented retailers, such as TJ Maxx , have seen promising results this retail earnings season, Dollar Tree has fallen short. Even with the companies low prices, Dollar Tree shoppers have been focusing their spending on essential items, which carry lower margins, over discretionary purchases.

☆ Target offers 1 year to return items from store brands like Cat & Jack kids' clothes. Here's everything you need to know about the unusually generous policy.
▼ + stars: | 2023-05-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Target guarantees satisfaction for a year on owned-brand goods, including Cat & Jack kids clothes. Here's Target's policy, the strategy behind it, and what could cause it to change. Target's policy says most items must be returned within 90 days and they must be in new condition or unopened. In a way, the return policy helps Target make sales, as it incentivizes shoppers to buy its in-house brands. "These are people admitting on social media that they were actually quite satisfied, but they are just finding a loophole and this return policy," Herzog said.

Organizations: & &

☆ Premarket stocks: Investors shouldn't ignore this recession warning sign
▼ + stars: | 2023-05-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

“Retail growth held on by the skin of its teeth this month,” said Neil Saunders, managing director of GlobalData. The retailer posted disappointing sales for its first quarter and lowered its outlook for the year as customers slowed their spending. Total sales ticked up 0.5% during its latest quarter from a year ago, the company said Wednesday. The bill, which will take effect in January, specifically names TikTok as its target, prohibiting the app from operating within state lines. Pence said he expects to come to a decision about a presidential run before the end of June.

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