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☆ Some relief for consumers: Prices on a few grocery items are actually coming down
▼ + stars: | 2022-11-10 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

For most consumers, price breaks on their groceries come as welcome relief given that store food prices overall have surged 12.4% through October versus a year ago. In fresh produce, the average unit price for prepared mixed vegetables from July to September (the latest data available) dropped 68% versus the same period last year. In fruits, the average unit price is down 1.8% for tangerines and has declined 7% for dates in the same three-month period. A lot of fresh seafood options are cheaper as well: the average unit price for striped bass fell 41.8% (July through September) over the prior year. “You’re are seeing a little bit of an increase in turkey [prices] but you are also seeing a little bit of reduction in chicken.

☆ Tyson Foods CFO, John R. Tyson, arrested after entering wrong home, falling asleep
▼ + stars: | 2022-11-07 | by ( Parija Kavilanz | ) edition.cnn.com time to read: 1 min

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☆ NRF: Holiday sales to increase between 6% to 8% in 2022
▼ + stars: | 2022-11-03 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

Holiday online are forecast to increase between 10% and 12% to between $262.8 billion and $267.6 billion, up from $238.9 billion in 2021, the group said. This has helped jump start holiday sales ahead of schedule and could support more sales increases in coming weeks.. But other forecasts for holiday sales suggest there may be a big pullback on gift shopping in the weeks ahead. Consulting firm Deloitte expects retail sales in November, December and January – when Christmas gift cards are redeemed – to increase only 4% to 6%. That compares unfavorably with last year’s robust 15.1% increase, but this year’s expected slower growth is in line with where holiday retail sales were trending pre-pandemic.

☆ National Sandwich Day has chains serving up sandwich deals today
▼ + stars: | 2022-11-03 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +1 min

November 3rd marks National Sandwich Day (yes, it’s a thing.) But even though National Sandwich Day is still not an actual holiday, plenty of restaurant chains are doling out deals and freebies on sandwich orders. Popeyes: Buy one Chicken Sandwich combo (classic or spicy) and get a second sandwich free through the chain’s app or website. Jersey Mike’s Sub: Customers can get free delivery on their sandwich order through the app. McAlister’s Deli: The restaurant chain is offering a buy one, get one free sandwich promotion today for its reward program members.

☆ Go ahead. Go crazy with avocados. There's a massive glut and prices are cooling off
▼ + stars: | 2022-11-02 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

New York CNNBusiness —There’s at least one item in the grocery store that is getting less expensive: avocados. A significant supply glut of the buttery fruit has triggered a drop in wholesale prices, sending store prices lower as well. A glut of global avocado supply has triggered a significant drop in prices. “In the first half of 2022, avocado shipments from Mexico were 25% lower compared to the record-high shipments we saw in 2021,” said Magana. Those regulations were quickly lifted, but not before causing a further run-up in store prices.

☆ More good news for workers is bad news for the Fed
▼ + stars: | 2022-11-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

We the people can create the strongest job market in a generation and what do we get in return? Here’s the deal: The labor market is still very, very strong. And while that’s great news for workers, it’s bad news for the Fed. The “quit rate” held steady at 2.7%, or about 4.1 million workers voluntarily leaving their jobs — not a record, but still historically high. In summary: “If you were waiting for signs of labor inflation easing, you’ll have to keep waiting,” said Lightcast senior economist Ron Hetrick.

☆ Chick-fil-A operator whips up winning recipe for employees: three-day workweek
▼ + stars: | 2022-10-31 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

One Miami Chick-fil-A owner/operator has been deluged with applications after switching his staff to a three-day, 14-hour workweek. Justin Lindsey was looking for a novel way to reward workers who were “literally working 70 hours a week, week in and week out,” he recently told QSR magazine. In his restaurant’s case, Lindsey said the three-day workweek allows his staff to plan lives outside of work in advance. A three-day workweek is still very rare, but the buzz around a four-day week has been gaining momentum. And when Microsoft tried a shorter workweek in Japan in 2019, it found productivity increased up by almost 40%.

☆ Kanye West's unsold Yeezy merchandise: Where will it all go?
▼ + stars: | 2022-10-27 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

New York CNNBusiness —Yeezy merchandise has no place to go. So where will the mounting glut of Yeezy products — sneakers, sweatshirts, sweatpants, jackets, T-shirts, bags — wind up? Morningstar analyst David Swartz said Gap will probably have to destroy or otherwise dispose of — perhaps through donations — its unsold Yeezy merchandise. Environmental impactThe options for dealing with unsold Yeezy gear pose big challenges. “Exporting it looks to be the last and final best solution to make Yeezy products disappear,” said Flickinger.

☆ TJ Maxx rejects Yeezy brand amid Kanye West fallout
▼ + stars: | 2022-10-26 | by ( Parija Kavilanz | ) edition.cnn.com time to read: 1 min

☆ Beyond Meat launches new steak product
▼ + stars: | 2022-10-24 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN Business —Beyond Meat, the company known for plant-based burgers designed to look, taste and cook like meat, is getting into plant-based steak. But the new product, meant to mimic an expensive cut of beef, arrives as interest in the plant-based sector appears to be ebbing. Each 10-ounce package contains seared plant-based “steak tips” in bite-sized pieces, and is priced at $7.99. “Beyond Steak is a highly anticipated expansion of our popular beef platform,” said Dariush Ajami, chief innovation officer at Beyond Meat, in a statement announcing the new product Monday. The product “delivers the taste and texture of sliced steak.”Beyond Meat launched a new steak product, Beyond Steak.

☆ Tupperware wants to jump from grandma’s cupboard into the cool kids’ homes
▼ + stars: | 2022-10-22 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

New York CNNBusiness —Tupperware wants to be where the cool kids play. That means shedding its throwback to its Mad Men-era image, and positioning Tupperware products as buzz-worthy, high-utility and with an environmentally-friendly purpose. Another idea is to collaborate with a fridge manufacturer to have a line of refrigerators that come outfitted with Tupperware storage containers inside. Tupperware containers, in a way, also could be helping to also reduce food waste. “We’d like to think those were many meals that were stored in the fridge in Tupperware products.”

☆ Twitterverse vigilance scares LVMH CEO into dumping his private plane
▼ + stars: | 2022-10-19 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

Renault, 73, the world’s second-richest man with a net worth of over $149 billion, said he has sold his private jet because he was Twitter-shamed over his frequent plane use. “Indeed, with all these stories, the group had a plane and we sold it,” Arnault told an LVMH-owned radio station, on Monday. “It’s not very good that our competitors can know where we are at any moment,” Antoine Arnault told the radio station. Elon Musk tried to pay off a 19-year-old from Florida to stop tracking his private jet use. Jack Sweeney rejected the $5,000 offer from Musk to delete his Twitter account that tracks the Musk’s private jet journeys.

☆ Walmart is now selling over-the-counter hearing aids after FDA rule change
▼ + stars: | 2022-10-17 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

The move comes shortly after the US Food and Drug Administration announced a long-awaited rule change in August pertaining to hearing aids. The retailer said shoppers can now buy the OTC hearing aids on Walmart.com and in Walmart Vision Centers in Colorado, Michigan, Missouri, Ohio, Pennsylvania, Tennessee and Texas. Lexie self-fitting hearing aids powered by Bose (priced at $849). About a quarter of people 65 to 74 have hearing loss, and that goes up to 50% around age 75. The FDA said its rule change would make hearing aids much more widely available and much cheaper across the country.

☆ Beyond Meat executive who allegedly bit a man’s nose will leave the company
▼ + stars: | 2022-10-14 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNNBusiness —Beyond Meat Chief Operating Officer Doug Ramsey is leaving the company after his recent arrest for assault. Ramsey was arrested last month on on charges of “terroristic threatening” and third-degree battery after he allegedly bit a man’s nose following a Arkansas football game. In a SEC filing, the company announced Ramsey’s departure, noting Friday will be his last day of employment. Ramsey joined Beyond Meat in December last year, pivoting from a three-decade career at Tyson Foods (TSN). Beyond Meat had been a market leader in the plant-based meat space, alongside rival Impossible Foods.

☆ New testing finds high level of toxic chemical in sports bras, watchdog warns
▼ + stars: | 2022-10-13 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

The CEH, which conducted the testing, is a non-profit consumer advocacy group focused on exposing the presence of toxic chemicals in consumer products. Under California law — specifically Proposition 65, enacted in 1986 — the maximum allowable dose level for BPA via skin exposure is 3 micrograms per day. “We want brands to reformulate their products to remove all bisphenols including BPA. In adults, exposure to BPA has been linked to diabetes, heart disease, cancer, obesity and erectile dysfunction. Premature death was also associated with BPA exposure, a 2020 study found.

☆ The Children's Place goes full-on into grown-up wear
▼ + stars: | 2022-10-12 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

Recognizing that all-day “casual comfort” is now an acceptable sartorial standard, even for adults, kids’ clothing seller The Children’s Place is going full-on into grown-up wear. The retailer on Wednesday launched a new sleepwear and loungwear brand called PJ Place that specifically targets Millennials and Gen Zers. PJ Place products, priced at $10.95 to $69.95, include pajama sets, robes, thermal sets, graphic tees, socks and slippers for young adults and older shoppers. PJ PlaceTo that end, Markee said PJ Place aims to expand the company’s market share in the adult sleepwear and loungewear space overall. Going after the adult sleepwear and loungewear market is a smart move, said Maria Rugolo, apparel industry analyst with market research form NPD.

☆ REI dumps Black Friday — permanently
▼ + stars: | 2022-10-05 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNNBusiness —REI has quit Black Friday, forever. For the past seven years, the retailer has closed its doors on the day after Thanksgiving to give its employees a day off. A woman walks past a closed REI store in New York on Black Friday, 2016. Walmart (WMT), for example, is getting the ball rolling on its year-end holiday shopping season even before Halloween. Still, REI’s move to permanently dump Black Friday, as part of its “Opt Outside” movement to mark the day, is noteworthy because most retailers are continuing to keep their stores open.

☆ Amazon debuts new shopping portal for customers on government assistance
▼ + stars: | 2022-10-03 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN Business —Amazon on Monday launched a new shopping portal called Amazon Access that is designed for shoppers receiving government assistance. Amazon already offers some services for low-income customers, such as discounted Amazon Prime membership. It also accepts Supplemental Nutrition Assistance Program or SNAP benefits for groceries purchased through Amazon Grocery, Amazon Fresh and Whole Foods. Amazon (AMZN) also announced it has renamed its discounted Prime membership to Prime Access. Eligible customers can sign up for the service on Amazon (AMZN) Access.

☆ Expect to shell out more for a Christmas tree this year
▼ + stars: | 2022-10-03 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN Business —In the spirit of holiday cheer, here’s the good news first: Christmas tree farms say this year’s harvest looks good and they don’t expect shortages. The industry group Real Christmas Tree Board in August surveyed 55 wholesale growers of Christmas trees who account for about two-thirds of the nationwide supply. US Christmas tree farms say they don't expect shortages of real trees this holiday season but shoppers should prepare to spend more for them this year. Courtesy Real Christmas Tree BoardAt the store level, larger retail chains might be able to absorb some of the price increase, but they will likely need to pass some of those costs on to shoppers. They told us that they do expect to pay more for trees because of overall inflation but that they’re still going to buy their tree,” said Marsha Gray, executive director of the Real Christmas Tree Board.

☆ MacKenzie Scott files for divorce from second husband
▼ + stars: | 2022-09-28 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +1 min

New York CNNBusiness —Billionaire philanthropist MacKenzie Scott has filed for divorce from her second husband after less than two years of marriage. Scott, one of the world’s richest people, married Seattle-based science teacher Dan Jewett last year after divorcing Amazon founder Jeff Bezos in 2019. Scott filed a petition for divorce in the King County Superior Court in Washington State on Monday, according to the Court clerk’s office. The news was first reported by The New York Times on Wednesday. Scott has given away billions of dollars as part of a plan to donate a majority of her fortune.

☆ Expect big holiday sales on everything but the bling
▼ + stars: | 2022-09-26 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN Business —Retailers have already signaled big sales are coming for the holidays — with one major, sparkly exception. That’s because holiday jewelry sales have been on fire over the last two years. “Jewelry is in good shape heading into this holiday season,” said Marshal Cohen, chief retail industry adviser with NPD Group. “With no real overstock position, [jewelry] retailers are not anxious” and don’t see the need to run big sales, he said. Paul Zimnisky, an independent jewelry industry analyst, said Signet’s comments indicate that consumers should not expect big sales or liquidation deals.

☆ The UK’s ‘Trussonomics’ crashes the pound and leaves investors shaking their heads
▼ + stars: | 2022-09-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Here’s the deal: The British pound tumbled to a record low against the US dollar on Monday as investors around the world dumped UK assets. For the first time in history, the pound is on track to hit parity with the dollar before the end of the year. Part of the pressure on the pound comes from the strong dollar, which has gotten a boost from the Federal Reserve’s interest rate hikes. But the pound is also falling against the euro, signaling broader concerns about the UK’s financial health. “This is a painful reminder that economic policy is not a game,” said Torsten Bell, chief executive of the Resolution Foundation, a think tank that focuses on boosting living standards for low- to middle-income households.

☆ An iconic soap with two weird claims to fame -- "It floats" and it's "99+44⁄100% Pure"
▼ + stars: | 2022-09-24 | by ( Parija Kavilanz | Cnn Business | ) edition.cnn.com time to read: +1 min

This iconic cake of soap, invented almost 150 years ago, has become a part of Americana largely by advertising its two strange merits: "It Floats" and it's "99+44⁄100% Pure." The original product is a no-frills, plain white, mild-scented bar soap with the name "IVORY" etched into it in script. Procter & Gamble first sold Ivory Soap in 1879 with the taglines "It Floats" and it's "99 and 44/100 Percent Pure." So why has Ivory Soap stood the test of time? Ivory Soap packaging famously, and relentlessly, touts the attributes of purity and buoyancy.

☆ Walmart's not waiting for Black Friday. it's ready for holiday shoppers now
▼ + stars: | 2022-09-22 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNNBusiness —Halloween is still a month away, but Walmart is ready for Christmas. Walmart on Thursday said it’s getting the ball rolling on its year-end holiday shopping season at its stores and online as early as next month. The retailer said it is also changing its return policy for Walmart and Walmart+ subscription service customers to give this year’s early gift shoppers more time to make returns. Given the company’s status as an industry bellwether, it’s too soon to say whether Walmart’s earlier-than-usual holiday push could trigger other retailers to follow suit. “If there are fewer gift purchases by consumers, expect to see even more holiday promotions than ever.”

☆ Kanye West says he’s terminating his partnership with the Gap
▼ + stars: | 2022-09-15 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

“We wanted to address the headlines of today and the past several weeks related to Yeezy Gap. And we are deciding to wind down the partnership,” Mark Breitbard, president and CEO of Gap Brand, said in the email. As it now moves to wind down the partnership, Gap said existing merchandise from Yeezy Gap will continue to be sold in the company’s stores and its website. West also said that Gap was required to sell 40% of Yeezy Gap products in its retail stores, which hasn’t materialized, according to The Wall Street Journal. “While Kanye could have injected a dose of energy into Gap, the incompatibility of the two visions meant that frustrations were inevitable.

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