Consumers shopping at a mall in Yantai, East China’s Shandong province, July 10, 2023. Future Publishing | Future Publishing | Getty Images Min Li doesn’t go to the mall often. But when she does, she heads straight for the basement, scurrying past the first floor flanked by Gucci, Chanel, Louis Vuitton and other luxury outlets. … Read more
Consumers eating shabu shabu at a restaurant in Lianyungang City, East China’s Jiangsu Province, Nov 26, 2023. Future Publishing | Future Publishing | Getty Images BEIJING — China’s consumer isn’t going to be spending big anytime soon, which means companies need to be more strategic to tap what’s still a massive market, according to McKinsey. … Read more
Starbucks cups are pictured on a counter in Manhattan, New York, on Feb. 16, 2022. Carlo Allegri | Reuters Starbucks on Thursday presented the latest stage in its plan to drive growth for the company, which involves accelerating its global footprint and saving $3 billion in costs over the next three years. The company said … Read more
For the first time in nearly two decades running JPMorgan Chase, CEO Jamie Dimon will voluntarily sell stock in the bank. The disclosure, in a securities filing Friday, detailed next year’s planned sales — pressuring JPMorgan (JPM) shares and the Dow Jones Industrial Average and highlighting why tracking trades made by executives involving the companies … Read more
Alex Rodriguez has a few regrets — including not thinking more about the stock market as a young baseball player in Seattle during the 1990s dot-com boom. “When I was in Seattle — I started in 1993 — I wish I would have just bought a bunch of the locals,” the former Major League Baseball … Read more
A McDonald’s restaurant close to Instances Sq., NYC on July twenty ninth, 2023. Adam Jeffery | CNBC Restaurant firms navigating a number of the identical challenges within the second quarter fell into two classes: winners and losers. Some chains mentioned their larger menu costs alienated diners, whereas others mentioned shopper habits hasn’t modified whilst their … Read more
Marchers with Starbucks move by way of the landmark intersection of Hollywood and Highland throughout the annual Pleasure Parade in Los Angeles, June 12, 2022. David Mcnew | Getty Photographs Strikes at some organized U.S. Starbucks shops began Friday in Seattle, after the espresso big and the union representing baristas publicly clashed over claims that … Read more
Pedestrians stroll previous Yum! Manufacturers Inc. Pizza Hut and KFC eating places in Shanghai, China. Qilai Shen | Bloomberg | Getty Pictures China is abandoning pandemic lockdowns, and U.S. firms like Procter & Gamble, Starbucks and MGM Resorts Worldwide say the nation’s restoration is boosting their total gross sales as shoppers of their dwelling markets … Read more