Ulta Beauty faced a major setback in the second quarter of the year, causing its shares to plummet by 7% in extended trading. The company not only failed to meet second-quarter expectations but also had to revise its full-year guidance due to a decline in same-store sales. This disappointing performance marks the first earnings per
Business
The restaurant industry has taken a significant hit as bankruptcy filings have been on the rise in 2024. This surge comes as a result of a myriad of challenges that restaurants are facing. Diners are becoming increasingly cautious with their spending as the effects of the pandemic still linger. In addition to this, labor costs
With the legalization of adult-use marijuana in New York state, the cannabis market has seen a significant shift towards luxury consumption. One of the most iconic retail streets in the world, Fifth Avenue, now boasts a new dispensary where shoppers can purchase high-end marijuana products alongside jewelry and designer clothing. This development is a clear
In the wake of the COVID-19 pandemic, airlines that once aggressively pursued new jets are now changing their strategies. Cash-strapped low-cost carriers and discounter airlines are reevaluating their spending plans to save money and enhance profitability. One of the primary catalysts for this shift is the surge in engine repairs, which has had a significant
The Food and Drug Administration recently gave the green light to Novavax’s updated protein-based Covid vaccine for emergency use in individuals aged 12 and older. This decision marks a significant milestone in the ongoing battle against the virus and sets the stage for Novavax to compete with established players like Pfizer and Moderna in the
General Motors has recently made the decision to integrate its all-electric BrightDrop commercial vans into the Chevrolet brand. This move is aimed at boosting sales, improving accessibility, and increasing recognition of these electric vehicles. By incorporating the BrightDrop vans into Chevrolet’s extensive network of dealerships across North America, GM hopes to make these vehicles more
The toy industry has faced a challenging time in the first half of 2024, with a decrease in sales attributed to inflationary pressures. However, amidst this downturn, one company has managed to thrive and gain market share – Lego. The Danish toymaker has reported a significant increase in revenue, showcasing its resilience and ability to
Fans of the Dallas Mavericks and New Orleans Pelicans are eagerly anticipating the upcoming NBA season, not only for the on-court action but also for changes in how they will watch their favorite teams. Both franchises are making a significant shift by leaving their regional sports networks owned by Diamond Sports, according to a recent
Cava, the Mediterranean restaurant chain, recently reported its fiscal second-quarter net income which surpassed Wall Street’s expectations. The company saw a substantial increase in earnings per share, reporting 17 cents compared to the anticipated 13 cents. Additionally, Cava’s revenue for the quarter reached $233 million, exceeding the forecasted $220 million. These impressive numbers resulted in
Edgar Bronfman Jr. has recently made a bid for a controlling stake in Paramount Global, which could potentially keep Shari Redstone closely connected to the company if his offer is successful. Bronfman has raised $6 billion to compete with Skydance Media for the ownership of National Amusements, a holding company founded by Sumner Redstone. Both