Forever 21, a well-known fast-fashion player with over 380 stores in the U.S., is facing a tough time navigating through the competitive retail landscape. As per CNBC reports, the company has reached out to its landlords seeking a substantial reduction in rent, up to 50%, amidst declining sales and financial strain. This move comes as
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Darden Restaurants recently reported their quarterly results, which painted a mixed picture. One of the major concerns was Olive Garden’s same-store sales falling for the second consecutive quarter. This decline was reflected in the overall flat same-store sales for Darden, as well as the negative growth in fine-dining restaurants under the company’s umbrella. In terms
In recent years, the box office has been missing a crucial element – family films. While a few hits like Universal’s “Super Mario Bros.” have contributed to ticket sales, many family-friendly movies have either opted for streaming platforms or spaced out their releases, causing any momentum to fizzle out. However, in the past few months,
Boeing CEO Dave Calhoun admitted to a Senate panel that the company’s culture is far from perfect, just hours before facing fresh whistleblower claims alleging mishandling of hundreds of defective parts. This revelation comes as the company is still recovering from the fallout of two fatal crashes and is working to improve employee training, aircraft
Senator Elizabeth Warren has called out Federal Reserve Chair Jerome Powell for allegedly advocating for changes to regulations that would benefit the financial industry. Warren has accused Powell of doing the bidding of big bank CEOs by considering slashing the increase in capital required under the Basel III Endgame proposals. Last year, three U.S. banking
Merck has recently received approval from the Food and Drug Administration for its new vaccine, Capvaxive. This vaccine is designed to protect adults from a bacteria known as pneumococcus, which can lead to serious illnesses such as pneumonia. Capvaxive specifically targets 21 strains of the bacteria, offering a more comprehensive protection against pneumococcal disease than
The demand for weight loss and diabetes treatments has reached unprecedented levels, leading to the immense success of Eli Lilly in the past year. Anat Ashkenazi, the outgoing Chief Financial Officer, has played a vital role in managing the surge in revenue and investor optimism resulting from the popularity of Eli Lilly’s diabetes injection, Mounjaro,
Disney and Pixar have once again proven their dominance in the box office with the release of “Inside Out 2.” The film made a significant impact by raking in an estimated $155 million domestically during its opening weekend, marking it as the second-highest theatrical debut for an animated film. After the pandemic restrictions eased and
Boeing’s Starliner capsule, named “Calypso,” is set to stay at the International Space Station for twice as long as originally planned according to NASA. The mission, known as Boeing’s crew flight test, is currently underway as the company and NASA conduct various tests on Starliner while it is docked with the ISS. Initially scheduled to
The Pentagon recently announced the first winning bidders in its rocket launch contract sweepstakes, with Jeff Bezos’ Blue Origin finally grabbing a spot for the first time. This news comes as part of contracts awarded under the Pentagon’s $5.6 billion National Security Space Launch program. Elon Musk’s SpaceX and United Launch Alliance (ULA) were also