Axios

Macy's is closing five stores and trimming its workforce by 3.5%, the retailer confirmed to Axios Thursday.

Why it matters: While Macy's had a strong third quarter relative to its past performance, the department store category remains deeply troubled, Axios' Richard Collings reports.

Retailers are eager to master generative AI and to understand gen Z.

Zoom in: Along with how to design physical stores to compete with online shopping, those were among the most sought-after discussions at this year's National Retail Federation Big Show in New York on January 14-16.

Health insurers are feeling the pain as patients are getting treated at higher rates than expected.

Why it matters: The more people use their insurance plans, the lower the profits for the insurers and, typically, the higher prices are for people.

Walmart is increasing pay for store managers and said Thursday it will hike the current average manager salary from $117,000 to $128,000 starting Feb. 1.

Why it matters: The nation's largest private employer and largest retailer is hoping to attract and retain managers in a competitive labor market.

Costco is taking its crackdown on membership sharing to the next level with a trial at some locations that requires members to scan their cards when entering stores.

Why it matters: It's the latest effort to convert freeloaders into paying members, similar to Netflix's password-sharing shakedown.

A powerful mix of high inflation, cheap wine and an "aisle of shame" have made Aldi the fastest-growing grocery store chain in the country.

Why it matters: More Americans are turning to the no-frills discount grocer known for its lower prices and quirky ways it saves money.

U.S. oil stockpiles dropped more than expected last week, giving crude prices a lift.

Why it matters: The U.S. hasn't seen prices rise related to the expanding fighting in the Mideast, as domestic producers and rising imports from non-OPEC countries like Guyana and Brazil have generated ample supplies.

Georgia's Spelman College announced Thursday that it has received a historic $100 million donation, the largest ever made to a historically Black college or university (HBCU).

Why it matters: The gift will go toward endowing scholarships for future students, improving student housing, developing an "academic focus on public policy and democracy," and other critical needs, the college said in a press release.

Subway is looking to capitalize on America's growing snacking appetite with three new footlong snacks that hit restaurants nationwide Jan. 22.

Why it matters: Snacks make up about a quarter of what Americans eat in a day with 90% of people eating one to three snacks, according to a recent report in the journal Nutrients.

Here's what's new on Netflix, Max, Paramount+, Prime Video and Hulu.

What we're watching: A new season of an Emmy-winning dating show, a twisted true crime doc and a road trip with Jason Momoa.

Supporters of former President Donald Trump cite his economic record as a reason to vote for him, but that's a bit puzzling.

Why it matters: Trump's economic record is only good if you leave off what happened from March 2020 to the end of his administration.

With the market down, the motivation for criminals to steal people's digital assets dropped significantly last year.

Why it matters: As legislators like Sens. Elizabeth Warren and Roger Marshall seek to associate blockchain technology with cyber crime and money laundering, illicit activity on chain has been dropping, according to a report.

Oil prices have fallen, despite escalating Mideast violence.

Why it matters: Since at least the Yom Kippur War of 1973 — and the Arab nations' oil embargo that followed — the region's regular episodes of violence and political volatility have often generated spikes in oil prices.