Zara's Parent Company Breaks Records with Strong Sales and Expansion Plans
Inditex, the parent company of Zara, saw a surge in its stock prices, hitting record highs after reporting robust early spring sales.
Monaco Mogul's Carmel Property Spree Sparks Local Concern
A foreign billionaire's rapid acquisition of properties in Carmel, a picturesque coastal town, has sparked concern among locals.
Macy’s Navigates Turbulent Retail Waters With Closures, Luxury Shift, and Activist Investors
Macy’s announced plans to shutter 150 stores over three years and 50 by the end of 2024 following a fourth-quarter loss and declining sales.
Fast-Fashion Giants Shein and Temu Disrupt Global Air Cargo Industry
The rise of fast-fashion e-commerce giants like Shein and Temu is shaking up the global air cargo sector, according to industry insiders.
Boeing Faces Delivery Decline Amid Safety Concerns
In January, Boeing saw a decline in aircraft orders and deliveries following a midflight incident involving a fuselage panel on one of its 737 Max 9s.
United Airlines Faces $2 Billion Loss Since Scrapping Flight Change Fees
United Airlines made headlines three years ago when it axed flight change fees, a move that has cost the company an estimated $2 billion.
Walmart's Ambitious Plans Include Over 150 New and Expanded Stores in the Next Five Years
Walmart, already a retail giant, is aiming to get even bigger. Over the next five years, the company plans to build or convert more than 150 large-format stores, with some expanding from smaller locations into Supercenters offering groceries and merchandise.
Knight-Swift Faces Challenges Despite Revenue Growth in Weak Freight Market
Knight-Swift Transportation, a major player in the trucking industry, managed to increase its revenue despite weak freight demand in the last quarter of the previous year.
Yellow Corp. Continues Asset Sales, Generating Over $82 Million from Terminal Leases
The U.S. Bankruptcy Court has given the green light to Yellow Corp.'s sale of 23 terminal leases to various buyers, totaling $82.89 million.
UPS and FedEx Extend Demand Surcharges Despite Lower Year-Over-Year Volumes
UPS and FedEx have decided to extend their demand surcharges for additional handling and large packages, despite lower year-over-year volumes.
Record Online Spending and the 'Buy Now, Pay Later' Trend
During the holiday season, online spending hit a record high, increasing by 4.9% year over year, totaling $222.1 billion, according to Adobe Analytics.
Lazada Initiates Layoffs Amidst Southeast Asian E-commerce Competition
Lazada, the Southeast Asian e-commerce platform owned by Alibaba, has initiated a new round of layoffs that will be affecting employees across all Southeast Asian markets.
Nike Faces Stock Plunge as Revenue Outlook Slashed Amid Market Challenges
Nike's shares tumbled over 10% after the company revised its revenue outlook for the fiscal year, anticipating just 1% growth instead of mid-single-digit growth, citing challenges in Greater China and EMEA, digital traffic softness, and a stronger U.S. dollar.
Amazon Slashes Fees to Compete with Shein in Fast-Fashion Market
Amazon is feeling the pressure from fast-fashion app Shein and has decided to cut referral fees for cheap clothing items in an effort to compete.
GM Announces Layoffs at Michigan Plants Amid Restructuring and EV Transition
General Motors (GM) is laying off 1,314 workers at two Michigan plants, including one that produced the discontinued Chevy Bolt EV.
U.S. Retail Sales Surge in November, But Concerns Loom Over Future Consumer Spending
In November, Americans increased their spending ahead of the holiday season, with retail sales rising by 0.3%, surpassing expectations and reversing the decline recorded in October.
Hasbro Cuts 1,100 Jobs Amidst Sales Slump as Mattel Shines with Barbie
Hasbro, known for Monopoly and Play-Doh, is cutting 1,100 jobs, approximately 20% of its workforce, due to disappointing sales ahead of the holiday season.
Republican Leaders Probe $3 Billion DOE Award to Sunnova Amid Accusations of Exploitative Sales Practices
Republican leaders in Congress are investigating the Department of Energy's $3 billion award to Sunnova Energy Corporation, a solar company accused of exploiting vulnerable customers with deceptive sales practices.
Rapid Deforestation in Western Mexico Linked to Soaring US Avocado Demand
Deforestation is rapidly increasing in western Mexico, driven by the growing demand for avocados in the United States.
Tesla Generates Excitement for Cybertruck Delivery Event with Public Display and Improved Build Quality
Tesla is building anticipation for its upcoming Cybertruck Delivery Event by showcasing the unconventional electric pickup truck.