The restaurant industry has experienced a significant surge in bankruptcy filings in 2024, which is in line with the broader trend of rising corporate bankruptcies across various sectors. Notably, at least 10 restaurant chains have filed for bankruptcy this year, excluding multi-unit franchisees. August alone saw three Chapter 11 filings from prominent eateries. The uptick
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American Eagle, a popular apparel company, faced challenges recently as it missed Wall Street’s sales targets for the second quarter in a row. The company’s revenue of $1.29 billion fell short of the expected $1.31 billion, leading to a decline in its shares by roughly 3% in early trading. Despite this setback, American Eagle’s profit
The once-thriving discount retailer, Dollar General, experienced a significant drop in its shares on Thursday. This unexpected tumble was a result of the company slashing its sales and profit guidance for the full year. The retailer, known for catering to lower-income customers in rural areas, is facing challenges in today’s economy. CEO Todd Vasos mentioned
The landscape of cannabis consumption has undergone a significant transformation, with legal avenues for cannabis consumption now infiltrating the luxury market on Fifth Avenue in New York City. The legalization of adult-use marijuana in New York State has paved the way for licensed dispensaries to flourish, with sales exceeding $100 million last year. Shoppers can
In the current real estate market, purchasing a home has become increasingly unaffordable for many individuals due to a combination of factors. One of the main reasons contributing to the lack of affordability is the continuous rise in housing prices. According to the National Association of Realtors, the median sales price for homes increased by
General Motors has recently announced its decision to integrate its all-electric BrightDrop commercial vans into the Chevrolet brand. This strategic move is aimed at boosting sales, accessibility, and recognition of these vehicles among consumers. By aligning the BrightDrop vans with the strong Chevrolet brand, GM hopes to drive increased volume and cater to customers looking
The stock market experienced some key movements during the recent trading session, with notable companies such as Nvidia, Salesforce, and Intel showcasing significant changes in their share prices. Nvidia’s stock price declined by 7% after the release of its quarterly report, prompting concerns about its ability to meet Wall Street’s expectations. On the other hand,
Salesforce has witnessed a 4% surge in its shares during extended trading after exceeding estimates in its fiscal second-quarter results. The company reported earnings per share of $2.56, adjusted compared to the expected $2.36, and revenue of $9.33 billion as opposed to the estimated $9.23 billion. This strong performance has led to a positive outlook
The toy industry experienced a notable sales decline due to inflation in the first half of 2024. However, amid this challenging environment, Lego managed to buck the trend by reporting a substantial revenue increase. The Danish toymaker’s revenue skyrocketed by 13% in the first six months of the year, reaching an impressive 31 billion Danish
The impending reauthorization deadline for the National Flood Insurance Program (NFIP) by September 30 has significant consequences for homeowners and potential homebuyers. Without the reauthorization, the NFIP will not be able to issue new policies or increase coverage on existing policies. This means that individuals in flood zones or those looking to purchase homes in