Big Lots, a discount home goods retailer with over 1,300 stores across 48 states, filed for bankruptcy amidst a challenging retail landscape. The company, known for its bargain-basement pricing, saw a decline in sales due to high interest rates and a sluggish housing market. As a result, Big Lots agreed to sell its business to
Business
Boeing’s Starliner spacecraft finally undocked from the International Space Station after a lengthy delay that saw the two astronauts it originally carried remain in orbit for an extended period. Instead of returning to Earth as planned, NASA test pilots Butch Wilmore and Suni Williams will now remain aboard the ISS until February, when they will
As the National Football League (NFL) season approaches, automakers are seizing the opportunity to re-engage with advertising during the games. Toyota Motor Corporation, Hyundai Motor Company, and Detroit automakers are making a comeback as main advertising platforms during the NFL season. Toyota, in particular, is stepping into the season as the “Official Automotive Partner of
Starboard Value, an activist investor, has taken a bold move to dissolve News Corp’s dual-class share structure, which poses a significant challenge to the Murdoch family’s control over the media giant. This strategic maneuver aims to disrupt the status quo and empower shareholders to have a more significant voice in the company’s decision-making process. Despite
The Green Bay Packers have a ownership structure that is unlike any other team in the National Football League. Nestled in the small town of Green Bay, Wisconsin, this franchise is completely owned by stockholders, many of whom are die-hard Packers fans. The ownership structure was established over a century ago and remains intact today.
As the NFL season kicks off, CNBC presents its inaugural Official NFL Team Valuations. The rankings, crafted by CNBC senior sports reporter Michael Ozanian, delve into the overall value of each professional football team. This analysis takes into consideration a team’s revenue, profit, and debt, offering an in-depth look at the financial standing of the
Steph Curry, the 36-year-old four-time NBA Champion, is not just focused on his basketball career. In a recent interview with CNBC’s “Squawk on the Street,” Curry discussed his various business ventures and goals for the future. Apart from his successful basketball career, Curry also owns a media company, Unanimous Media, and a youth golf tour
With the return of football, the sports betting industry is gearing up for a record-breaking season. Projections from the American Gaming Association indicate that U.S. adults are expected to wager a staggering $35 billion on the NFL this season. This marks a significant increase of over 30% from the previous season’s total of $26.7 billion.
Ulta Beauty recently reported a decline in same-store sales during the second quarter, leading to a 7% drop in their shares in extended trading. This performance fell short of the expectations set by the company, resulting in a miss on earnings per share and revenue. Comparable sales for the quarter fell by 1.2%, a stark
The surge in restaurant bankruptcy filings in 2024 has brought to light the underlying economic challenges faced by the industry. As diners pull back their spending, labor costs continue to rise, and government assistance from the Covid-era dwindles, many restaurants are struggling to stay afloat. The increasing financial strain on these establishments is evident, with