McDonald’s ditched meat-free burger in US because of poor sales, executive admits
Years after McDonald’s tested meatless burger options in limited markets, the company’s U.S. chief executive has finally admitted that the chain has discontinued the plant-based burger due to poor sales. Last week, McDonald’s U.S. President Joe Erlinger The Wall Street JournalAsked about the company’s future plans for plant-based products at McDonald’s Global Food Forum, Erlinger […]
Home Sales Plunge, Investors Pull Back Too, Prices Drop 8.4% in 4 Months
Estimated Reading Time: 2 minutes Sellers are struggling with denial: Priced “right,” a home will sell, but “right” is where the buyers are, and they’re a lot lower. Sales of all types of previously owned homes – houses, condos, and co-ops – fell by 5.9% in October from September, the ninth month in a row of […]
Should gun store sales get special credit card tracking? States split on mandating or prohibiting it
Beginning Monday, a California law will require credit card networks like Visa and Mastercard to provide banks with special retail codes that can be assigned to gun stores in order to track their sales. But new laws will do the exact opposite in Georgia, Iowa, Tennessee and Wyoming by banning the use of specific gun […]
U.S. Judge Lets Most of SEC Case Against Binance Proceed, Dismisses Secondary Sales Charge – CoinDesk
In an order late Friday, Judge Amy Berman Jackson of the District of Columbia Court ruled that the SEC’s charges against Binance relating to its initial coin offering and ongoing sales of BNB, BNB Vault, staking services, failure to register, and fraud allegations can proceed. The judge granted Binance and Zhao’s motion to dismiss the […]
Nike plans affordable shoe line after shares fall following dismal sales prediction
Sportswear giant Nike said Friday it will start selling sneakers for under $100 after its shares plummeted following dismal sales forecasts. The company announced new plans to boost profits after telling analysts in its quarterly earnings report on Thursday that revenue will likely decline in fiscal 2025. The forecast of an unexpected mid-single-digit decline in […]
Walgreens may close over 2K stores as sales plunge amid inflation
Walgreens said Thursday it may close up to a quarter of its more than 8,600 U.S. stores as inflation-hit consumers cut back on spending and retail sales plummet. The struggling drugstore chain, which closed 150 U.S. stores last year, lowered its profit forecast ahead of its quarterly earnings report, sending its shares plummeting nearly 25 […]
H&M shares drop 13% after CEO casts doubt on June sales
H&M shares fell 13% on Thursday after its CEO questioned the company’s ability to meet its full-year profit targets and predicted weak sales in June. The Swedish company said its sales this month were expected to fall 6 percent year-on-year in local currency terms, due in part to continuing bad weather in many markets. Chief […]
US auto sales projected to slump in June due to disruption from CDK outage
Ryan Payne, President of Payne Capital Management, appeared on “Mornings with Maria” to explain the latest data on the auto industry. U.S. new vehicle sales are expected to fall this month compared to June 2023 due to an outage at software provider CDK Global that affected dealerships across the country, according to a new report. […]
Bud Light’s Sales Implosion, Explained (by Mises)
Estimated Reading Time: 4 minutes I stopped drinking Bud Light decades ago, so when the Dylan Mulvaney controversy exploded last month, I didn’t need to consider if I’d stop drinking Anheuser-Busch’s most popular product. What’s clear is that many others have decided to quit the beer over the brand’s decision to wade into transgender politics. […]
Paramount Global reveals more layoffs, asset sales on the way
Paramount Global executives have warned of further job cuts as part of a $500 million cost-cutting plan to stem a “totally unacceptable” decline in the media giant’s profitability. About 500 employees learned of the tough plans, which also include revamping the Paramount+ streaming service and hiring bankers to sell unspecified assets, during an all-hands meeting […]