Best Buy recently announced that it has raised its fiscal-year profit guidance, following better than expected earnings and revenue figures for the most recent quarter. The retailer now expects adjusted earnings per share to fall within the range of $6.10 to $6.35, which is an increase from the previous range of $5.75 to $6.20. This
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The toy industry faced a challenging period in the first half of 2024 due to an inflation-fueled sales slump. However, amidst this turmoil, one company stood out by gaining market share brick by brick. Lego, the Danish toymaker, reported a 13% increase in revenue during the first six months of the year, amounting to 31
The number of individuals worldwide holding more than $1 million in crypto assets has skyrocketed, increasing by 95% over the past year, according to a recent report by New World Wealth and Henley & Partners. This surge in the population of crypto millionaires can be attributed to the remarkable growth of bitcoin exchange-traded funds and
As the National Basketball Association (NBA) season approaches, fans of the Dallas Mavericks and New Orleans Pelicans are eagerly anticipating changes in how they will be able to watch local games. Both teams are moving away from their regional sports networks owned by Diamond Sports, as confirmed in a recent bankruptcy court filing. While the
Auction sales during Monterey Car Week saw a 3% decrease from the previous year, indicating a shift in preference from older classic cars to newer models. The total sales at this year’s five car auctioneers in Monterey dropped to $391.6 million, down from $403 million in 2023. This decline follows a 14% decrease from the
The future of Paramount Global has been thrown into uncertainty with a competing offer from Edgar Bronfman Jr. The special committee at Paramount has decided to extend the “go shop” period by 15 days to review the new offer from Bronfman. Initially, Bronfman offered $4.3 billion for National Amusements, the controlling shareholder of Paramount, with
Ford Motor recently announced that it is delaying production of a next-generation all-electric pickup truck at a new plant in Tennessee. Additionally, the company has decided to cancel plans for a three-row electric SUV. Instead of focusing on these all-electric models, Ford will be prioritizing the development of hybrid models. This strategic shift comes as
Alaska Airlines has successfully navigated the U.S. Justice Department’s regulatory investigation process regarding its acquisition of Hawaiian Airlines. The period for antitrust regulators to review the $1.9 billion agreement between the two carriers has ended without any legal obstacles hindering the deal from moving forward. Despite clearing the U.S. Justice Department phase, Alaska Airlines and
California Gov. Gavin Newsom recently signed 10 new bills into law aimed at combating retail crime in the state. These new laws target shoplifting, theft from vehicles, organized theft, and the resale of stolen goods on online marketplaces. The retail industry has been lobbying for stronger action against retail theft, citing its negative impact on
Starbucks is facing a significant challenge with its mobile ordering system, which has resulted in frustrations among customers, overwhelmed baristas, and declining sales. The incoming CEO, Brian Niccol, will have his work cut out for him when he takes over the role in September. The issue of operational inefficiencies, driven by the influx of mobile