American Dream megamall nearly empties its reserves to make a bond payment

American Dream megamall and entertainment complex in East Rutherford, NJ After more than 17 years in the making, it finally opened on October 25, 2019. Then came the coronoavirus pandemic. Timothy A. Clary | AFP | Getty Images American Dream megamall in New Jersey, crippled by construction delays and blocked store openings, is running out … Read more

Premixed cocktails steal share from beer and hard seltzer, propelling surging growth

Anna Elias | Moment | Getty Images Premixed cocktails were the fastest growing liquor category in 2021, stealing share from beer and hard seltzer. Sales of ready-mixed cocktails increased by 42.3% to $ 1.6 billion compared to a year earlier, according to the Distillered Spirits Council of the US. Ready-to-drink cocktails were next after vodka … Read more

Starbucks (SBUX) Q1 2022 earnings

The Starbucks logo appears on a cup in a Starbucks store on October 29, 2021 in Marin City, California. Justin Sullivan | Getty Images Starbucks is expected to report its quarterly earnings after Tuesday. Here’s what Wall Street analysts surveyed by Refinitive expect: Earnings per share: 80 cents expected Revenue: Expected $ 7.95 billion Last … Read more

Bud Light Seltzer’s Super Bowl ad spotlights new line, stars Guy Fieri

Guy Fieri in Bud Light Seltzer Hard Soda’s Super Bowl commercial Source: Bud Light Bud Light Seltzer hopes a Super Bowl ad starring renowned chef Guy Fieri will help boost sales in an increasingly crowded drink category. The ad, which the brand says will mark Fieri’s first Super Bowl ad appearance ever, plays out the … Read more

Peloton internal docs show it slashed 2022 sales goals for apparel unit

The peloton briefly announced its private label clothing line outside a storefront in the SoHo neighborhood of New York City. Source: Kevin Stankiewicz, CNBC The peloton has cut back on sales forecasts for 2022 for its apparel business, according to internal documents obtained by CNBC. The momentum in the unit, which is run by CEO … Read more

Best Buy could cash in from rise of the metaverse, analyst says

Customers are waiting outside a Best Buy store in downtown Toronto, Ontario on November 23, 2020 to pick up their online orders. Geoff Robbins | AFP | Getty Images As businesses and consumers become more interested in the meta-verse, Best Buy could make money by selling more virtual reality headsets and more expensive computers, says … Read more

Home Depot names company veteran Ted Decker as CEO

A Home Depot store will be seen in Washington, DC, on August 18, 2020. NICHOLAS KAMM | AFP | Getty Images Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO. The dealer’s current CEO, Craig Menear, will continue to serve as chairman of the board. The change … Read more