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Business

The ‘lipstick index’ is back — and retailers are trying to cash in

Target has added new brands to its beauty department. At a growing number of stores, it also has mini Ulta Beauty shops with prestige brands. Melissa Repko | CNBC As prices creep up, some people have decided against getting a new outfit, delayed big purchases like TVs or cancelled Netflix accounts. But for now, they’re […]

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Best Buy cuts jobs across the country, after warning of slower sales

Black Friday shoppers leave a Best Buy store in Washington, DC, on November 26, 20221. Nicholas Kamm | AFP | Getty Images Best Buy said on Friday that it is cutting jobs across the country about two weeks after it warned it was seeing weaker sales than expected. A Best Buy spokeswoman, Carly Charlson, declined […]

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Business

Warby Parker slashes sales outlook for the year as loss widens

A general view of the atmosphere at Warby Parker’s store in The Standard, Hollywood Michael Buckner | Warby Parker | Getty Images Warby Parker on Thursday joined the slew of retailers that have cut their financial forecasts for the year, even as it reported a narrower-than-expected loss in its fiscal second quarter and sales in-line […]

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Business

Tech industry’s critical policy issues likely tabled as Congress heads for recess

U.S. House Speaker Nancy Pelosi shakes hands with Senate Majority Leader Chuck Schumer at the start of a discussion with historians on how to “establish and preserve the narrative of January 6th” on the one-year anniversary of the attack on the Capitol in Washington, January 6, 2022. Al Drago | Pool | Reuters Congress is […]

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Business

Oil companies are giving back tons of cash — and other things we’ve learned this earnings season

A trader works at the New York Stock Exchange NYSE in New York, the United States, May 18, 2022. U.S. stocks plummeted on Wednesday as weak earnings from major retailers stoked concerns about the impact of inflation. Michael Nagle | Xinhua News Agency | Getty Images Source link

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Business

Walmart lays off corporate employees after slashing forecast

Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey VIEW press | Corbis News | Getty Images Walmart has begun to lay off corporate employees, the company confirmed Wednesday, about a week after it slashed its profit outlook and warned that consumers had pulled back on discretionary spending due […]

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Business

The confusing job market: Tech and finance brace for the worst, retail is mixed, travel can’t hire fast enough

Passengers at an American Airlines gate at the Dallas/Fort Worth International airport in Dallas. Scott Mlyn | CNBC It wasn’t long ago that Amazon, Shopify and Peloton doubled their workforces to manage through the pandemic surge, while Morgan Stanley staffed up to handle a record level of IPOs, and mortgage lenders added headcount as rock-bottom […]

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Business

CVS says it plans to get into primary care by year end

A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York. Shannon Stapleton | Reuters CVS said Wednesday that it plans to acquire or take a stake in a primary-care company by the end of the year, as competition heats up with Amazon and Walgreens. CEO Karen Lynch said on […]

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Business

Cramer says Fed officials’ aggressive inflation statements on Tuesday are dragging down market

CNBC’s Jim Cramer on Tuesday said that inflation is coming down at a good pace as he called out Federal Reserve leaders for hawkish comments that are dragging down the market. “While we hear Fed officials and hedge fund managers and strategists opine about how the Federal Reserve will have to double the federal funds […]

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Business

Mall owners say retailers are still opening stores in spite of recession fears

The biggest shopping mall owners in the United States say retailers are still forging ahead with plans to open new stores in spite of growing recession fears and decades-high inflation that’s squeezing shoppers’ budgets. Simon Property Group, the country’s largest mall owner, said the pipeline of businesses slated to open up at its properties remains […]