Tag:
Earnings
Fairfield, CT
Business
Trump Tells Walmart to ‘Eat the Tariffs’ After CEO Says Price Hike Coming
Two days after America’s largest retailer, Walmart, said it would raise prices to cover the cost of President Donald Trump’s tariffs, the president responded with a three-word retort: “Eat the tariffs.” In an earnings call on Thursday, May 15, Walmart CEO Doug McMillon told investors that the company would likely need to increase prices on groceries and general merchandise, despite a 2.5 percent increase in first-quarter earnings for 2025. “We will do our best to keep our prices as low as possible,” he said, according to MarketWatch. “But given the magnitude of the tariffs, even at the redu…
Franklin Township, NJ
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…
Brookfield, CT
Business
Walgreens To Close 200 Stores
Walgreens will be closing 200 stores nationwide as part of a plan to cut costs by $1.5 billion. As of last year, Walgreens operated approximately 9,560 drug stores and employed 240,000 employees, according to its website. The company is calling the closures a “transformational cost management program.” Earlier this year, Walgreens closed another 200 stores in the United Kingdom as part of the reorganization. No specific store locations were detailed in a filing with the United States Securities and Exchange Commission. A full list is expected to be released before the stores begin closing…
Bergenfield, NJ
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…
