AP names Finkelstein to direct small biz coverage, food and shopping
Associated Press business editor Lisa Gibbs sent out the following announcement on Friday: She can take the “interim” out of her title. Amy Finkelstein next week joins the Business Desk as team leader directing coverage of small business, food and shopping. Just in time for Black Friday. When she took on the acting role, Amy jumped right […]
Coverage: Penney’s performance disappoints ahead of holidays
Dallas-based department store chain J.C. Penney reported earnings that were less than expected and underperformed compared to competitors, calling into question how well it will perform during the holiday shopping season. Anne D’Innocenzio of the Associated Press had the news: Penney is trying to recover from a catastrophic reinvention plan under former CEO Ron Johnson that […]
Coverage: EBay stock drops amid business transformation
Online shopping market eBay reported earnings that beat analyst expectations, but its stock price fell 8 percent in after-hours trading as it continues to move toward becoming more of a competitor to Amazon. Laura Stevens of The Wall Street Journal had the news: EBay reported revenue grew 5.6% to $2.22 billion, beating analyst expectations for a […]
Coverage: More executive shakeup at McDonald’s
Two more top executives will be leaving fast food restaurant chain McDonald’s Corp. by the end of the year as it continues to struggle to maintain growth. Julie Jargon of The Wall Street Journal has the news: Karen King, the company’s chief field officer, plans to retire at year-end. Ms. King, 60 years old, is in […]
Coverage: Amazon ups holiday hiring to 120,000
Online retailer Amazon.com plans to hire 120,000 seasonal workers this holiday, or 20,000 more than it hired last year. Joshua Jamerson of The Wall Street Journal had the news: The Seattle retailer plans to add 120,000 seasonal positions, up from 100,000 last year. By comparison, Target Corp. is looking to hire 70,000 additional workers in its […]
Coverage: New directors at BW3 fails to appease activist investor
Sports bar chain Buffalo Wild Wings has added three outside board members amid pressure from an activist shareholder. Austen Hufford of The Wall Street Journal had the news: The chicken-wing restaurant operator said directors Dale Applequist and Warren Mack were resigning immediately, advancing their planned retirements. Marcato Capital Management LP, which has a 5.2% stake in […]
Coverage: Wal-Mart ups stake in Chinese online retailer
Wal-Mart Stores Inc., the world’s largest retailer, has increased its stake in JD.com, China’s No. 2 e-commerce site, to 10.8 percent, up from 5.9 percent. Anne D’Innocenzio of the Associated Press has the news: The move comes four months after Wal-Mart bought an initial stake in JD.com in a deal that also gave JD.com ownership to […]
USA Today seeks retail/consumer/food reporter
USA Today’s Money section seeks a New York City-based reporter to capture the excitement of the retail, consumer and food beats. This is no ordinary opportunity. The right candidate will help set the agenda for how the flagship media organization of the USA Today Network covers how and where people spend their money. Your mission […]
Coverage: McDonald’s names new head of U.S. business
McDonald’s Corp. on Wednesday named a relative newcomer to the fast food restaurant company as the next head of its U.S. business, a change from its past promotions. Candice Choi of the Associated Press had the news: The Oak Brook, Illinois-based company said Wednesday that Mike Andres, who is 58 and stepped into his role in […]
Coverage: Sears/Kmart continue to struggle
The parent company of retailers Sears and Kmart reported a loss on Thursday and that its same-store sales — a key barometer of a retailer’s health — continued to decline. Hadley Malcolm of USA Today had the news: The company went in the red for the period ended July 30, recording a loss of $395 million, […]
