Starbucks will exit Russia after 15 years, closing 130 licensed cafes

A woman drinks coffee in a Starbucks in a mall in Khimki outside Moscow. Alexander Natruskin | Russia After 15 years operating in Russia, Starbucks will exit the market, joining companies like McDonald’s, Exxon Mobil and British American Tobacco in withdrawing from the country completely. The coffee giant announced Monday that it will no longer … Read more

Weee! taps Crazy Rich Asians director Jon M. Chu in push for grocery growth

Online grocery delivery start-up Weee! encourages customers to share videos of recipes and favorite items on its app. It specializes in hard-to-find Asian foods, along with fruits, vegetables and other staples. Weee! Online grocery start-up Weee! specializes in hard-to-find foods from Asian and Hispanic cuisines. It nabbed another kind of rarity earlier this year: A … Read more

McDonald’s to sell Russian business to existing Siberian licensee

The Kremlin’s towers and passers-by are seen reflected in the window of a closed McDonald’s restaurant in Moscow on May 16, 2022. Natalia Kolesnikova | AFP | Getty Images McDonald’s said Thursday it has struck a deal to sell its Russian business to its current licensee in the market, Alexander Govor. Govor will acquire all … Read more

Kohl’s says two top executives are leaving, as company seeks buyer

Vehicles sit parked in front of a Kohl’s department store in Ashland, Ky. Luke Sharrett | Bloomberg | Getty Images Kohl’s said Wednesday that it is losing two of its top executives, as the retailer searches for a potential buyer amid pressure from activists to sell the business. Doug Howe, Kohl’s chief merchandising officer, is … Read more

Under Armour CEO Patrik Frisk to step down, interim chief to take over

Patrik Frisk, recently appointed Chief Executive Officer Of Under Armor, speaks at the 2020 Under Armor Human Performance Summit on January 14, 2020 in Baltimore, Maryland. Olivier Douliery | AFP | Getty Images Under Armor said its president and chief executive officer, Patrik Frisk, will be stepping down, effective June 1, as the sportswear retailer … Read more

What Walmart, Target, Home Depot and Lowe’s tell us about the economy

How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how people are spending their money. Walmart said some of its … Read more

Target (TGT) Q1 2022 earnings

Target on Wednesday reported quarterly earnings that fell far short of Wall Street’s expectations, as the retailer coped with pricey freight costs, higher markdowns and lower-than-expected sales of discretionary items from TVs to bicycles. Shares fell about 22% in premarket trading. Here’s what Target reported for the fiscal first quarter ended April 30, compared with … Read more

Shopee, Garena post strong revenue

Shares of Southeast Asia’s e-commerce and gaming firm Sea Group popped after its first-quarter revenue beat analysts’ expectations on Tuesday. Sea’s US-listed shares rose 14% to close at $80.21 after the Singapore-based internet firm reported revenue that exceeded analysts’ expectations in the first quarter this year. Here’s how the New York Stock Exchange-listed company did … Read more

Stock futures mixed as Wall Street attempts to build on recent rebound

US stock futures were mixed on Tuesday evening as investors looked to build on a solid rally. Futures for the Dow Jones Industrial Average added just 9 points. S&P 500 futures sat below the flatline and Nasdaq 100 futures ticked about 0.1% lower. The move in futures came as the stock market’s recent sell-off appeared … Read more

Walmart (WMT) earnings Q1 2023

Workers move shopping carts outside a Walmart store in Lakewood, California, US, on Sunday, May 15, 2022. Bing Guan | Bloomberg | Getty Images Walmart on Tuesday reported quarterly earnings that missed Wall Street’s expectations by a wide margin, as the nation’s largest retailer felt pressure from rising fuel costs and higher levels of inventory. … Read more