Starbucks recently announced their decision to bring in Brian Niccol as the new CEO and Chair, offering him a substantial pay increase and one-time awards to entice him to leave his previous position at Chipotle Mexican Grill. Niccol’s main responsibilities include boosting sales, enhancing customer experience, and addressing challenges in the company’s China division. The
Business
Home Depot, like many other businesses, is keeping a close eye on the Federal Reserve’s decisions when it comes to interest rates. Chief Financial Officer Richard McPhail highlighted how higher interest rates have caused homeowners to postpone moving into new houses or starting major projects that require financing. This waiting game has been further fueled
Blink Fitness, a well-known budget-friendly gym chain owned by the luxury fitness company Equinox Group, recently made headlines by filing for Chapter 11 bankruptcy protection. This move comes in the wake of the COVID-19 pandemic, which has caused several fitness chains to struggle financially. Blink Fitness has over 100 centers across the United States, but
Restaurant CEOs are currently fixated on the concept of “value” as they address investors about the decline in sales and share their strategies for increasing traffic. The term “value” has been repeated numerous times in recent conference calls by industry leaders, such as McDonald’s, Yum Brands, Papa John’s, and Burger King. This emphasis is a
Automaker Stellantis has recently announced plans to lay off up to 2,450 U.S. factory workers as it discontinues production of an older version of its Ram 1500 pickup truck in Michigan. The truck has been a staple for entry-level buyers and fleet customers since its introduction, but with the introduction of a new generation in
Delta Air Lines recently revealed that last month’s CrowdStrike outage caused them a staggering $550 million in losses. The financial repercussions include a $380 million revenue hit in the current quarter due to canceled flights and customer compensation. Additionally, there was a $170 million expense related to the technology outage and the subsequent operational recovery.
In a surprising turn of events, Disney’s media business is no longer seen as a burden on the company. For the past couple of years, investors have been concerned about the losses in streaming, coupled with a decline in traditional pay TV and underperforming box office releases. This led to a significant drop in Disney’s
Disney recently announced that it will be raising prices on its streaming platforms, including Disney+, Hulu, and ESPN+. Starting in mid-October, most plans for these services will see a price increase of $1 to $2 per month. The most expensive plans for Hulu, which include live TV, will see a significant increase of $6 per