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Retail
Yum Brands (YUM) Q2 2022 earnings
A woman walks past a Taco Bell Cantina on July 30, 2020 in New York City.Alexi Rosenfeld | Getty ImagesYum Brands on Wednesday reported mixed quarterly results, but said Taco Bell had stronger sales.Shares of the company rose nearly 2%…
Starbucks union asks coffee giant to extend pay hikes, benefits to
With pay increases set to kick in at Starbucks cafes around the U.S. on Monday, labor organizers are asking the coffee giant to extend the benefits to unionized stores as well without going through the bargaining process.The request…
Peloton slashing 780 jobs, closing stores and hiking prices in push to turn
Peloton told employees Friday that it is slashing roughly 780 jobs, closing a significant number of its retail stores and hiking prices on some equipment in a bid to cut costs and become profitable. The company did not specify how many…
Alibaba (BABA) earnings fiscal Q1 June quarter
Alibaba has faced growth challenges amid regulatory tightening on China's domestic technology sector and a slowdown in the world's second-largest economy. But analysts think the e-commerce giant's growth could pick up through the rest of…
Beyond Meat stock falls after conclusion of McDonald’s McPlant test
Advertising for the McPlant burger, a plant based vegetarian alternative to more traditional meat burgers by fast food giant McDonalds on 11th July 2022 in London, United Kingdom.Mike Kemp | In Pictures | Getty ImagesShares of Beyond…
Consumers are expected to have spent slightly more in July, but Prime Day
People shop in a supermarket as inflation affected consumer prices in New York City, June 10, 2022.Andrew Kelly | ReutersConsumers are expected to have spent just slightly more in July, but they may have boosted what they spent online in…
Ultra-rich still shopping for luxury despite inflation, recession fears
Prices for food, gas and travel have soared over the past year – but the rich appear to be shrugging it off and are still fueling sales at luxury companies, where sneakers can go for $1,200 and sports cars easily top $300,000.Companies…
Consumers are cutting back on restaurant spending, but CEOs say not all
Howard SchultzDavid Ryder | ReutersSome restaurants are reporting weaker sales or declining traffic in the second quarter, signaling that diners are cutting back on eating out to save money.But CEOs are split on how consumer behavior is…
Some spirits drinkers are starting to trade down, Beam Suntory says
Bottles of Beam Inc.'s Jim Beam bourbon whiskey, center, are displayed for sale at a liquor store.Uriko Nakao | Bloomberg | Getty ImagesThe maker of Jim Beam said some price-sensitive whiskey and tequila drinkers are opting for cheaper…
People are spending lots of money on makeup, and retailers are cashing in
Target has added new brands to its beauty department. At a growing number of stores, it also has mini Ulta Beauty shops with prestige brands.Melissa Repko | CNBCAs prices creep up, some people have decided against getting a new outfit,…