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Friday, nov 15
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Earnings
Business
Teen TikToker Is Outearning Top CEOs By Millions
A teen social media star from Connecticut is outearning some of the most successful CEOs in the US by millions of dollars, according to new reports by Forbes and the Wall Street Journal. With 133 million TikToker followers, 17-year-old Fairfield County resident Charli D'Amelio, of Norwalk, who started posting to TikTok in 2019 -- has the video-sharing app's largest following, Forbes says. Last year, she brought in $17.5 million. The median pay for chief executives of S&P 500 companies in 2020 was $13.4 million, the WSJ reports. Darren Woods was the highest-earning CEO of 2020, brin…
Business
Clifton Kmart Named In Sears' New Round Of Closures
Sears Holdings Corp., which owns Sears and Kmart, has announced the exact locations in a round of store closures as sales continue to decline. The company said in an earnings statement Thursday it plans to close 63 of about 100 nonprofitable stores. New Jersey will be losing stores in Burlington, Lawrenceville and Ocean, along with a Kmart in Passaic. Sears Holdings initially announced plans to close 72 stores, but later in the day adjusted that number to 63 stores: 48 Sears stores and 15 Kmart stores. Nine additional stores that it initially planned to announce would close will be evaluat…