Darden Restaurants on Thursday reported mixed quarterly results as Olive Garden’s same-store sales fell for the second consecutive quarter. For fiscal 2025, Darden is forecasting that its same-store sales will grow just 1% to 2%. Shares of the company rose more than 2% in premarket trading. Darden reported fiscal fourth-quarter net income of $308.1 million, or […]Read More

Tesla’s hefty downsizing in 2023 has reduced its global headcount to just over 121,000 people, including temps, internal records suggest, indicating that the automaker has slashed more than 14% of its workforce so far this year. The latest figure is not from precise payroll data, but from the number of people who are on Tesla’s “everybody” […]Read More

Elon Musk on Wednesday tried to walk back remarks lashing out at advertisers fleeing his X social media platform. At the Cannes Lions advertising festival in Cannes, France, Musk was asked by WPP CEO Mark Read what he meant by telling advertisers threatening to pull ads from the platform late last year to “go f— […]Read More

Rite Aid is closing 27 more locations as it continues to work through a bankruptcy proceeding, according to a new court filing. The store locations are in Ohio and Michigan. More than 520 have been closed since Rite Aid filed for reorganization in October — about a quarter of its footprint. The majority of closures […]Read More

Forever 21 is asking landlords for a break on rent as the legacy fast-fashion player’s sales decline and it struggles to keep up with savvier competitors, CNBC has learned. The retailer, which has more than 380 stores in the U.S., has asked some landlords to cut its rent by as much as 50%, people familiar […]Read More

The 2024 Summer Olympics in Paris are set to see plenty of attendees — but travel data shows there are still opportunities for last-minute deal-hunters to capitalize on current market dynamics. Roughly a month out from the Friday, July 26, torch-lighting ceremony that will kick off the games, more than 75% of Paris-area rooms tracked by […]Read More

More than half a million portable electronic device chargers sold exclusively at Costco are being recalled after reports they can overheat and catch fire. The devices, called myCharge POWER HUB All-In-One, allegedly caused at least two residential fires. In a notice posted on the Consumer Product Safety Commission’s website, myCharge, also known as RFA Brands […]Read More

Pennsylvania Sen. Bob Casey has sent letters to Amazon, Target and Walmart over concerns that pricing decisions made at the retail giants since the pandemic may have been driven by aggressive push for profits at the expense of everyday Americans’ wallets. Casey, a three-term Democrat who is in a tight re-election battle that could tip […]Read More