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Walmart falls short of earnings expectations as higher costs eat into profits

05/17/2022

Walmart reported earnings per share of $1.30, below the $1.48 expected by analysts. The retailer, whose revenue exceeded the consensus, pointed to higher fuel and inventory costs as factors affecting its profitability.

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Starbucks will pay for workers to travel for abortions

05/17/2022

Starbucks said it will cover travel expenses for workers seeking abortions far from home. Sara Kelly, Starbucks acting executive vice president of partner resources, said, “Regardless of where you live or what you believe, partners enrolled in Starbucks healthcare will now be offered reimbursement for eligible travel expenses when accessing abortion or gender-affirming procedures when…

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Retail sales grow for fourth straight month

05/17/2022

U.S. retail sales, not adjusted for inflation, were up 0.9 percent month-over-month in April as Americans spent more on eating out and shopping for cars, clothing, electronics and furniture.

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Abbott agrees to fix formula safety issues at idled plant

05/17/2022

Abbott Nutrition, has agree to fix safety issues at its infant formula factory in Sturgis, MI, that have caused the facility to close for three months, leading to a nationwide shortage. The manufacturer expects it to take two weeks to restart the factory and then another six to eight weeks to get Similac and other…

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Nestlé flies infant formula into U.S. as shortages persist

05/17/2022

Nestlé is airfreighting infant formula into the U.S. in an effort to make up for the shortfall created when Abbott Laboratories had to close a factory over product safety concerns. “We moved shipments up and rushed via air to help fill immediate needs,” the company said in the statement.

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Home Depot ups sales and earnings forecast

05/17/2022

Home Deport is raising its full year sales forecast to around 3.4 percent, above the 1.4 percent gain expected by analysts. The retailer expects earnings per share in the mid-single digits, compared to its previous guidance of a low-single digit improvement.

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Apple and Starbucks union votes are upcoming in Atlanta

05/17/2022

Baristas at a Starbucks in Atlanta will decide whether or not to join a union later this week. Workers at an Apple store in Cobb County will vote on June 2.

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Restaurants enforcing dress codes

05/17/2022

Restaurants were willing to let customers wear just about anything over the past two years as they sought to keep their businesses afloat during the pandemic. Some are starting to put dress codes back in place and are betting that patrons are looking for a bit more formality in their lives.

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Tops grocery store is the latest to become a mass homicide crime scene

05/16/2022

A gun attack on shoppers at a Tops Friendly Markets store in Buffalo, NY, left 10 people dead. The alleged shooter targeted primarily Black shoppers in what is being described as a racially motivated attacks. The Buffalo attack follows previous mass attacks on grocery stores. A Walmart Supercenter in 2019 was the site of an…

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Walmart builds store manager talent pipeline

05/16/2022

Walmart has created a program to recruit and train college graduates with the goal of putting them in store manager positions within two years. The College2Career, which kicked off with two graduates this spring, is looking to bring in nearly 1,000 applicants by the summer. Participants in the program start off with $65,000 a year…

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