Traditional retailers stumble in their efforts to compete with Amazon
Traditional retailers are falling flat in the battle for apparel sales against e-commerce juggernaut Amazon.com Inc., as is evident in their recent earnings. “In light of Amazon and Macy’s Inc.’s recent results, we feel more confident that Amazon will displace Macy’s as the number one U.S. apparel retailer by 2017,” Cowen & Co. wrote in a Wednesday note. Macy’s Inc. ..>> view originalAsia shares slip, yen weak on stimulus expectations
TOKYO Asian shares got off on the back foot on Friday, while the yen nursed losses as traders wagered the Bank of Japan will add to its massive stimulus before too long. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent in early trade, on track for a weekly loss of 0.4 percent.Major U.S. stock indexes closed mixed on Thursday, with Nasdaq Composite down 0.49 percent as Apple shares skidded to a two-year low on concerns about iPhone demand. Japan's Nikkei tu..>> view originalFour Takeaways From Shake Shack's Earnings Call
Shake Shack announced solid first-quarter earnings Thursday, attributing a spike in traffic and sales to the introduction of the Chick'n Shack and an expansion into new markets. On a call with analysts, chief executive officer Randy Garutti and chief financial officer Jeff Uttz further discussed the numbers. Below, the most interesting takeaways from the call. 1. The company will soon release a limited-time-only Bacon-Cheddar Shack Garutti describes it as "a classic cheeseburger topped with all..>> view originalObama Gas Rules Set Table For Wide Emissions Cut, If Trump Loses
Oil-and-gas producers have a financial incentive to make sure methane isn't leaking from wells and pipelines. Yet methane has become a well-documented problem--and once it joins the atmosphere, scientists will tell you, it becomes a potent greenhouse gas, responsible for a quarter of the Earth's extra heat. Today the Obama administration issued rules requiring the industry to tighten up any new and renovated infrastructure. The move is a first step in realizing a goal the president first articu..>> view originalDog Attacks On Postal Workers On The Rise
By MARC TORRENCEFido and the post office haven’t always had the best relationship.But things are only getting worse.As online shopping soars in popularity and the United States Postal Service delivers more packages, mail carriers have experienced an increase in dog attacks, according to USPS data.Last year, 6,549 dog attacks on USPS mail-carriers were reported, a spike of nearly 800 from the year before. In Manassas, there were four attacks in 2015. The city went without any attacks in 2014.Hous..>> view originalRushCard to pay $19 million to users for last year's outage
NEW YORK (AP) — RushCard, the prepaid debit card company owned by hip-hop mogul Russell Simmons, agreed to pay at least $19 million to compensate its users who were impacted by the company's multi-day outage last year. The technical fiasco caused tens of thousands of RushCard customers, who are largely poor and minorities, to be unable to access their money for as long as two weeks. Complaints from the outage clogged up the company's customer service lines for days. A..>> view originalCPUC Approves Charter-TWC Deal
The California Public Utilities Commission has unanimously approved the transfer of control of various Time Warner Cable and Bright House California systems and telcos to Charter. That was the last remaining obstacle to closing the deal, which is now expected to close next week. A CPUC Administrative Law Judge had recommended the conditional approval, but that was a recommendation and still needed to be voted. “We are pleased to have now obtained all approvals," said Charter CEO Tom Rutledg..>> view originalMcDonald's testing fresh, not frozen, hamburger patties
McDonald's is testing fresh burger patties instead of frozen in select stores in the Dallas area.(Photo: AP)McDonald's is testing to see if consumers warm up to hamburger patties that don't come out of the freezer.The fast-food chain is testing hamburgers made from fresh beef in 14 locations in the Dallas area, the company says. Instead of frozen patties, burgers like the Bacon Clubhouse and Double Quarter Pounder with Cheese are being molded from freshly ground beef.If rolled out nationwide, th..>> view originalTroubled Mitsubishi Motors turns to Nissan
Troubled Mitsubishi Motors turns to Nissan $2.2B deal anticipates success of Nissan alliance with Renault Yuri Kageyama, Associated Press Published 8:31 pm, Thursday, May 12, 2016 Tokyo Nissan Motor Co. is investing 237 billion yen ($2.2 billion) to take a 34 percent stake in scandal-ridden Mitsubishi Motors Corp. in what Nissan Chief Carlos Ghosn said is "a win-win" deal intended to repeat the success of his Nissan-Renault alliance. Ghosn appeared with Mitsubishi Motors Chairman Osam..>> view originalNordstrom profit plunges as its mall stores see declining sales
Nordstrom could not escape the woes bedeviling the apparel retail sector as the company reported first-quarter earnings far below Wall Street expectations. Nordstrom could not escape the woes bedeviling the apparel retail sector as the company reported first quarter profits far below both last year’s level and Wall Street’s expectations. The company on Thursday said profit for the quarter was $46 million, down 64 percent from $128 million a year ago, while revenues were barely ahead of last yea..>> view original
Thursday, May 12, 2016
Traditional retailers stumble in their efforts to compete with Amazon and other top stories.
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