The comments come three days after the company said it may go bankrupt if a previously announced deal with contract manufacturer Foxconn falls through.
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Olive Garden parent Darden Restaurants bets on fine dining with $715 million Ruth’s Chris deal
Darden Restaurants believes fine-dining restaurants’ sales growth will outpace that of casual-dining eateries through 2026.
Continue readingNew York, California attorneys general probe NFL workplace practices, discrimination claims
The probe will eye the NFL for potential violations of state pay equity and discrimination laws, acording to the California and New York attorneys general.
Continue readingJ&J’s consumer health spinoff Kenvue opens at $25.53, a 16% jump, in public market debut
Kenvue’s debut is the biggest U.S. IPO since EV maker Rivian went public in 2021.
Continue readingFerrari profit jumps 24% as demand pushes waiting list into 2025
Ferrari’s EBIT profit margin, a widely-watched figure, increased a full percentage point to 26.9%.
Continue readingParamount Global shares fall 25% after weak earnings report, dividend cut
Paramount Global shares plummet as company cuts dividend and earnings miss estimates.
Continue readingBudweiser-owner AB InBev reports profit hike as beer drinkers shoulder higher prices
The beer industry demonstrated “resilience even in the context of an ongoing inflationary environment,” the biggest brewer in the world said.
Continue readingModerna posts surprise quarterly profit despite waning demand for Covid vaccines
Moderna maintained its full-year guidance of around $5 billion in revenue from its Covid vaccine, its only marketable product.
Continue readingPeloton reports wider-than-expected loss, but points to progress in its turnaround
Peloton reported subscription growth despite its ninth straight quarter of losses.
Continue readingMacy’s opens more strip mall stores as expansion strategy faces pivotal test
Macy’s push into smaller and off-mall stores is its answer to investors who see department stores as dull and irrelevant.
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