Inflation is cooling, but prices on many items are going to stay high for months

A grocery store in New York. Wang Ying | Xinhua News Agency | Getty Images Inflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t budged. In the months ahead, the big question is whether consumers will start to feel relief, too. related investing news Over the past few months, many of the key factors that fueled a four-decade high in inflation have begun to fade. Shipping costs have dropped. Cotton, beef and other commodities have gotten cheaper. And…

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What’s ahead for Bed Bath & Beyond in wake of bankruptcy warning

A pedestrian walks by a Bed Bath and Beyond store in San Francisco, California. Justin Sullivan | Getty Images When Bed Bath & Beyond leaders speak to investors Tuesday morning, they won’t simply report sales and earnings results. They will have to address a stark reality: The cash-strapped home goods retailer is running out of time. On Thursday, Bed Bath warned it may have to file for bankruptcy, saying that it could soon be unable to cover costs as sales lag and store traffic dwindles. It also said it’s struggling…

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Walgreens may have overstated theft concerns, CFO says

Anti-theft locked beauty products with customer service button at Walgreens pharmacy, Queens, New York. Lindsey Nicholson | Universal Images Group | Getty Images A top Walgreens executive on Thursday acknowledged the company may have overblown concerns about thefts in their stores after shrinkage stabilized over the last year.  During an earnings call, the drug store’s Global Chief Financial Officer James Kehoe said shrinkage was about 3.5% of sales last year but that number is now closer to the “mid twos.” He also said the company would consider moving away from hiring…

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Retailers brace for tougher times and more frugal customers in 2023

A shopper goes through shirts in the kids section at Old Navy in Denver, Colorado. Brent Lewis | Denver Post | Getty Images January is typically an overlooked month for retailers. Shoppers make returns and exchanges. They come to stores with gift cards in hand. And they may spring for workout clothes or other items to follow through on New Year’s resolutions. But this year, January carries higher stakes. The next few weeks, which close out many retailers’ fiscal year, could help determine whether the holiday quarter is a win…

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These states are raising their minimum wages in 2023. Chart shows where workers can expect higher pay

Labor activists hold a rally in support of a national $15 minimum wage on May 19, 2021, in Washington, D.C. Kevin Dietsch | Getty Images News | Getty Images As the calendar turns to 2023, workers in more than half of all states have something to look forward to this year: a higher minimum wage. That’s occurring as the federal minimum wage stands pat at $7.25 per hour — the same rate since 2009. But many states and cities have put their own rates in place, and most of them…

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5 things to know before the stock market opens Tuesday

Traders work on the floor of the New York Stock Exchange during morning tradingon December 02, 2022 in New York City. Michael M. Santiago | Getty Images Here are the most important news items that investors need to start their trading day: 1. Santa slump Stocks have yet to shake off these December blues. They’re on pace to post a losing month, which would wrap up a year of losses. The three major indices all fell Monday, setting a harsh tone for the week heading into Christmas. Futures, meanwhile, were…

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Target hopes value-hungry shoppers will come to the rescue this holiday season

Target is stressing value this holiday season, as consumers feel pinched by inflation. At its store in New Jersey, signs that advertise low-priced items are more prominent than in previous years. Melissa Repko | CNBC FAIRFIELD, N.J. — Inside of this large store in the suburbs, Target is trying to create some holiday magic for shoppers. Christmas tunes play over the loudspeaker. Adult- and kid-sized mannequins show off matching family pajamas. Red and green pillows decorate the shelves. The big-box retailer is looking for some of its own magic, too.…

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As inflation runs hot, Dollar General’s new Popshelf stores chase wealthier, suburban shoppers

HENDERSONVILLE, Tennessee — Dollar General‘s next big strategy for growth is tucked in a strip mall in suburban Nashville, and it is coming to other cities soon. It’s a new store called Popshelf. Over the past two years, the Tennessee-based discounter has tested the store concept, which caters to suburban shoppers with higher incomes, but sells most items for $5 or less. A wide range of merchandise fills the shelves, including holiday-themed platters, party and crafting supplies, novelty foods such as gourmet chocolates and Portobello mushroom jerky, and gifts like…

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From Disney to Target to Boeing, retirement is a thing of the past for CEOs

SUN VALLEY, ID – JULY 13: (L-R) Bob Iger, chairman and chief executive officer of The Walt Disney Company, Dick Costolo, former chief executive officer of Twitter, Lachlan Murdoch, co-chairman of Twenty-First Century Fox, Sundar Pichai, chief executive officer of Google, and Randall Stephenson, chief executive officer of AT&T, mingle during the annual Allen & Company Sun Valley Conference, July 13, 2018 in Sun Valley, Idaho. Drew Angerer | Getty Images News | Getty Images Lots of eyebrows, and questions, were raised in November when Disney surprisingly rehired Bob Iger…

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Rent the Runway reports stronger quarterly sales as shoppers look to save money

Jennifer Hyman, Rent the Runway  Scott Mlyn | CNBC As some shoppers think twice about purchases, Rent the Runway is getting a bump. The fashion rental and subscription company on Wednesday reported stronger quarterly revenue that beat expectations and raised its financial outlook for the year as customers opted to borrow designer clothes instead of buying them. In a CNBC interview, CEO Jennifer Hyman said inflation is making Rent the Runway more appealing to a broader range of customers who cut across incomes and geographies. For example, during the quarter, 28% of…

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