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July 13, 2020

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PepsiCo revenue falls 3% as pandemic hits beverage sales

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by CNBC09
CNBC – For more and to sign up click here Pepsi soft drinks are displayed at a convenience store in San Francisco, California. Justin Sullivan | Getty Images PepsiCo on Monday reported that its quarterly revenue fell as fewer consumers bought its drinks at restaurants or convenience stores amid the coronavirus......
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CNBC Business

Disney Parks Chairman Josh D’Amaro feels ‘really good’ about Disney World’s reopening in Florida

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by CNBC012
CNBC – For more and to sign up click here With Minnie and Mickey, Josh D’Amaro waves to guests gathered on Main Street USA, in the Magic Kingdom in the final minutes before the park closed, Sunday night, March 15, 2020, in Lake Buena Vista, Fla. Walt Disney World announced......
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CNBC Business

Canada Goose CEO says experiential store offers a ‘break from the insanity of the world today’

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by CNBC018
CNBC – For more and to sign up click here Dani Reiss, president and CEO of Canada Goose Rick Madonik | Getty Images Canada Goose‘s CEO said Friday the retailer’s recently opened experiential store in Canada is “almost built for this environment,” as consumers brave enough to venture outside are......
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CNBC Business

Charles Barkley: Sports are turning social justice issues into a ‘circus’

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by CNBC01
CNBC – For more and to sign up click here Charles Barkley told CNBC’s Power Lunch on Friday that, instead of talking about issues related to racial and economic justice, the sports world is more focused on who is or isn’t kneeling, or what social justice message is written on......
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CNBC Business

Pandemic deals mightier blow to retail than Great Recession: First-quarter operating income down 58%

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by CNBC01
CNBC – For more and to sign up click here Even when the Great Recession dampened consumer confidence and drove up unemployment things weren’t as bad for retailers as they have been during the current Covid-19 crisis, according to a new analysis from Retail Metrics. Days after the World Health......
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CNBC Business

Luxury brands turn from Hong Kong to mainland Chinese consumers still eager to shop

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by CNBC011
CNBC – For more and to sign up click here Zhang Peng | LightRocket | Getty Images Despite the economic shock of the coronavirus, analysts say China’s demand for luxury goods hasn’t waned much – and it’s drawing top brands from Hong Kong to the mainland. Consulting firm Bain estimated Chinese......
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CNBC Business

Big restaurant chains are recovering faster than the rest of the industry, Bank of America says

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by CNBC020
CNBC – For more and to sign up click here Big restaurant chains have largely recovered from the coronavirus pandemic, but the rest of the industry is taking longer to bounce back, according to a Bank of America study. Analysts Gregory Francfort and JonMichael Shekian used aggregated transaction data from Bank of......
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CNBC Business

‘Glee’ star Naya Rivera missing after son found alone in boat on California lake

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by CNBC037
CNBC – For more and to sign up click here Naya Rivera attends the Women’s Guild Cedars-Sinai Annual Luncheon at Regent Beverly Wilshire Hotel on November 06, 2019 in Beverly Hills, California. Axelle/Bauer-Griffin Authorities are searching a Southern California lake for “Glee” actress Naya Rivera, after her 4-year-old son was......
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CNBC Business

Walgreens swings to a quarterly loss as coronavirus drives up costs, lowers doctor visits

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by CNBC011
CNBC – For more and to sign up click here A customer views merchandise for sale at a Walgreens store in the Hollywood neighborhood of Los Angeles. Christopher Lee | Bloomberg | Getty Images Walgreens Boots Alliance said Thursday that the pandemic hurt its fiscal third-quarter results as fewer people went......
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CNBC - Real Estate

U.S. may need another 1 billion square feet of warehouse space by 2025 as e-commerce booms

CNBC Real Estate
by CNBC Real Estate010
With online sales proliferating during the coronavirus pandemic, the U.S. is going to need more warehouses to store hoards of boxes and handle those orders.  Holed up at home, and with many bricks-and-mortar stores temporarily shut, shoppers have turned to their computers and smartphones to buy everything from fresh groceries......
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CNBC Business

Black-owned businesses report boost in sales and interest on Blackout Day

CNBC
by CNBC021
CNBC – For more and to sign up click here Michael De Los Santos saw a big boost in sales on Blackout Day as consumers supported his BBQ sauce business. Source: Michael De Los Santos As activists and allies spread the word about Blackout Day, some Black-owned businesses said they......
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CNBC Business

Universal shuffles horror movie slate as coronavirus pandemic worsens

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by CNBC014
CNBC – For more and to sign up click here A scene for the movie Halloween released in 2018.  Source: Universal Studios As the coronavirus pandemic continues to worsen in the U.S., Universal Pictures is pushing a number of its upcoming horror films to new release dates. On Wednesday, the......
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CNBC Business

Bed Bath & Beyond to close 200 stores over 2 years as sales fall almost 50% during pandemic

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by CNBC014
CNBC – For more and to sign up click here Bed Bath & Beyond Inc. and Buy Buy Baby Inc. signage is displayed outside of a store in Los Angeles, California. Patrick T. Fallon | Bloomberg | Getty Images Bed Bath & Beyond said Wednesday its sales tumbled nearly 50% during......
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CNBC Business

Walmart quietly registers insurance business in its latest move into health care

CNBC
by CNBC011
CNBC – For more and to sign up click here A Walmart Care Clinic in Carrollton, Georgia, is ready to start seeing patients. Those who use the clinic will pay $4 if they are covered by Wal-Mart’s employee health plan or $40 if they do not. Jodi Gralnick | CNBC......
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CNBC Business

Storied apparel brand Brooks Brothers files for bankruptcy, as it seeks a buyer and closes dozens of stores

CNBC
by CNBC09
CNBC – For more and to sign up click here The coronavirus pandemic has now claimed one of the country’s oldest and most prestigious retailers. Brooks Brothers  — pioneer of the polo and uniform of the polished prepster — filed for bankruptcy on Wednesday, as it continues to search for......
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CNBC Business

‘The anxiety is so high’: Going back to school won’t look the same this year. Here’s what it means for retail

CNBC
by CNBC09
CNBC – For more and to sign up click here A Wal-Mart Stores Inc. associate organizes school supplies at a Wal-Mart Stores Inc. location in the Porter Ranch neighborhood of Los Angeles, California. Patrick T. Fallon | Bloomberg | Getty Images Nobody really knows what the back-to-school shopping season is......
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CNBC Business

Levi’s sales fall 62% in second quarter, to cut 15% of corporate workforce

CNBC
by CNBC07
CNBC – For more and to sign up click here The denim maker Levi Strauss & Co.‘s sales fell 62% during its fiscal second quarter, the company announced Tuesday, as its online sales weren’t enough to make up for its stores being temporarily shut for roughly 10 weeks during the......
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CNBC Business

Blackout Day looks to tap the rising power of the Black consumer

CNBC
by CNBC03
CNBC – For more and to sign up click here Black American consumers are hoping to make the financial and economic community pay attention Tuesday by using the power of purchase — or as the case may be, non-purchase. Blackout Day is a movement that urges Black consumers, and others,......
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CNBC Business

Yamaha is testing an app that would let sports fans pipe virtual ‘cheers’ into empty stadiums

CNBC
by CNBC013
CNBC – For more and to sign up click here Remote Cheerer used for Chiba Lotte Marines game in Japan Source: Yamaha Cheering for your favorite sports team may soon be as easy as tapping an app. Yamaha Corporation is testing out a new technology that allows fans to vocalize......
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CNBC Business

Walmart’s answer to Amazon Prime set to launch in July, according to report

CNBC
by CNBC012
CNBC – For more and to sign up click here Walmart‘s answer to Amazon Prime will launch this month, according to a report by Vox’s Recode. The big-box giant confirmed in February that it plans to roll out a subscription-based service called Walmart+, but hasn’t revealed details or its strategy......
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