Starbucks and Workers United have agreed to begin discussions in hopes of reaching collective bargaining agreements, the coffee giant and union said Tuesday.
In early 2020, before the pandemic,Macy's said it would close around 125 stores over three years, which at the time was a fifth of its locations, Kelly writes.
It fell short of its target and closed 80 namesake stores. It's currently closing another five stores before today's announced closing round begins.
Here are Nathan's takeaways from several key earnings reports:
🧑🍳 J.M. Smucker: The packaged food giant didn't rely as much on price increases in its most recent period. Comparable sales rose 6% — two-thirds of which came from volume increases, while only one-third came from price hikes.
🔨 Lowe's: The home improvement retailer posted a comparable sales decline of 6.2% — 2.7 points worse than rival Home Depot. The company is experiencing what it called "a slowdown in DIY demand."
🥗 Cava: The Mediterranean fast-casual chain saw increased guest traffic fuel same-store sales growth of 11.4% in Q4. Its stock soared today after the company published results a day early.
Toyota's strategy of prioritizing hybrids over EVs continues to pay off as the automaker placed four vehicles on Consumer Reports' list of top 10 buys for 2024, Nathan writes.
Why it matters: CR's annual list of top picks is an influential guide for car shoppers.
State of play: Of the top 10, four were hybrids and three were plug-in hybrids.
Only one was a pure EV — and that came in the EV category.
Subaru Crosstrek, Subaru Forester, Toyota Highlander Hybrid, BMW X5/X5 PHEV, Ford Maverick/Maverick Hybrid, Toyota RAV4 Prime plug-in hybrid, Tesla Model Y, Mazda3, Toyota Camry Hybrid, and Toyota Prius/Prius Prime plug-in hybrid.
Surge pricing is coming to Wendy's with the fast-food chain planning to test "AI-enabled menu changes" starting as early as 2025.
Why it matters: If a burger or spicy chicken sandwich costs more during the busy lunch or dinner rush, Wendy's runs the risk of driving consumers to its competitors.
Apple has canceled its secretive plan to develop an autonomous electric car, Bloomberg reported on Tuesday, citing anonymous sources with knowledge of the matter.
Why it matters: It's an abrupt, substantial shift for the company, as the multibillion-dollar, decade-long project would have led the company into an entirely new market, and it would have marked a new entrant in the auto space.
Public opinion has been starkly negative on the economy, despite a strong job market and fading inflation. Researchers have a new potential answer for why: the end of cheap borrowing.
Why it matters: Americans don't just hate inflation; they also hate the go-to policy tool aimed at bringing inflation down — namely, interest rate hikes.
5,000 workers at Anheuser-Busch InBev, the nation's largest brewer, could walk off the job as soon as Friday, the day after their current union contract expires.
Why it matters: The strike organized by the Teamsters would disrupt operations at 12 breweries — more than a quarter of the company's U.S. workforce — and would be the biggest walkout of the year, threatening to disrupt a cherished liquid resource.
Americans are spending more than 11% of their disposable income on food, per federal data — the highest level in more than three decades, matching 1991, the Wall Street Journal reports. Groceries and restaurants are both getting more expensive.
Why it matters: This measure could help explain why Americans feel badly about the economy, despite promising signs for the nation as a whole.
