Archive for the ‘CONSUMER GOODS’ Category

American Eagle To Add ‘Beauty’ To Its Business

American Eagle Outfitters Inc. plans to launch a beauty business before the upcoming holiday season, citing a big opportunity lying ahead for the company in this sector. The apparel retailer’s decision was announced by CEO Jay Schottenstein on Wednesday during an earnings call with analysts.

Walmart is expanding its ‘unlimited’ grocery delivery service nationwide

Walmart said Thursday it will be expanding a new “unlimited” grocery delivery service, which costs users $98 annually, to 1,400 stores this fall. The biggest retailer in the world had earlier this year been testing what it calls Delivery Unlimited in four markets — Houston, Miami, Salt Lake City and Tampa.

Buffalo Wild Wings, MGM partner on sports betting

MGM Resorts International and its sports betting venture Roar Digital announced a multiyear deal with national sports bar Buffalo Wild Wings on Thursday. In the coming months, odds and point spreads will begin appearing on screens at select Buffalo Wild Wings. On Thursday, the two companies will launch Picks and Props, a free-to-play, mobile-only football […]

Amazon introduces first OLED TV with built-in Alexa

Look out Roku, Amazon’s Fire TV streaming system is coming to more products than ever. The retail giant just dropped 15 new Fire TV-equipped gadgets on attendees at the IFA show in Berlin. Most of them are televisions destined for Europe and the UK — including the first OLED TV with Fire TV, which will […]

L Brands hit with class action over financial disclosures

A shareholder filed a class action against L Brands over what the lawsuit alleges were false and misleading statements by the company and its executives about the retailer’s financial situation, according to a complaint filed last month in an Ohio federal district court. Attorneys last week issued a press release inviting other plaintiffs to join […]

Forever 21 reportedly preparing potential bankruptcy filing

Teen retailer Forever 21 Inc. is preparing for a potential filing as its turnaround options fade, Bloomberg reported Wednesday, citing people with knowledge of the plans. According to Bloomberg, Forever 21 hired a team of advisers to help restructure its debt and has been in talks for additional financing, but negotiations with possible lenders have […]

Gen Z doesn’t like branding, so Doritos tries a new approach

Snack giant Doritos has launched an ad campaign which features no logo or brand name, to attract a younger, advertising-averse generation. The PepsiCo-owned brand’s campaign is called “Another Level” and features plain chip bags and the triangular-shaped snack itself and launched with a 60-second “Anti-Ad” on YouTube.

Walmart soars as e-commerce growth drives earnings beat and raises 2020 outlook

Walmart’s stock jumped 6.5% on Thursday after the retailer reported second-quarter results that topped Wall Street forecasts. Here are the key numbers from Walmart’s results: Revenue: $130.4 billion, compared to $130.07 billion expected by analysts Earnings per share: $1.27, versus $1.22 expected by analysts Net income: $3.64 billion, compared to $3.51 billion estimated by analysts

With tariffs looming, shoppers say they’ll adjust spending

About 60% of shoppers say they’ll adjust which retailers they shop at if the Trump Administration’s proposed tariffs on Chinese imports go into effect, according to a survey from rewards app Shopkick. The company surveyed more than 30,000 of its app users.