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+Zepbound copycats remain online despite FDA ban,https://www.cnbc.com/2025/03/21/zepbound-copycats-tirzepatide-compounding-online-fda-ban.html,2025-03-22T14:26:26+0000,"This week was supposed to mark the end of compounding pharmacies making copycat versions of Eli Lilly's weight-loss drug Zepbound and its diabetes drug Mounjaro. Online, it doesn't look like much has changed. Popular websites like Amble, EllieMD, Willow and Mochi Health are all still advertising versions of tirzepatide, the active ingredient in Zepbound. Some, like Ivim, have stopped taking new patients.Mochi Health has no plans to stop, and neither do the four pharmacies it uses to supply patients with the medications, said Mochi CEO Myra Ahmad. The company uses a network of about 500 providers to write prescriptions for weight-loss drugs, including compounded versions. It's betting that offering personalized versions of the drugs will keep the company out of the crosshairs. ""It can be different dosing schedules … some patients prefer to go up in dosage much more slowly,"" Ahmad said. ""Some patients like to mix a number of other medications into their compounded formulations, depending on the side effects that they're having. Some patients have side effects with any additives and brand name formulations. Compounding really opens up the door for so much personalization."" Amble, EllieMD and Willow didn't respond to CNBC's request for comment. Compounding is where pharmacies mix ingredients of a drug to create a specialized version for specific patients. Say someone is allergic to a dye in a branded medication or needs a liquid form and the main manufacturer only sells capsules. In that case, the patient can turn to a compounded version.When drugs are in shortage, they can be compounded in larger quantities to help fill the gap. Copycat versions of Lilly's Mounjaro and Zepbound and Novo Nordisk's Wegovy and Ozempic have been widely available in recent years because the U.S. Food and Drug Administration listed the brand versions as being in short supply. That created a booming business for pharmacies compounding the highly popular class of weight loss and diabetes medications called GLP-1s.But late last year, the FDA said all doses of Mounjaro and Zepbound were readily available and took the drug off its shortage list, spelling the end for mass compounding of the drug. After months of legal challenges, the FDA gave smaller pharmacies until early March to stop and larger pharmacies until this week before it started enforcing its rules.The larger facilities aren't allowed to compound tirzepatide at all anymore. Smaller ones aren't supposed to make products that are essentially copies of a commercially available drug, a moniker with some wiggle room. The FDA sees essential copies as those that have a dosage within 10% of the commercially available drug or combine two or more commercially available drugs.Mochi insists all of its prescriptions are personalized, including doses that differ from the standard Zepbound strengths. Other websites like EllieMD are advertising tirzepatide mixed with vitamin B12. Scott Brunner, CEO of the Alliance for Pharmacy Compounding, said formulations or dosage strengths that aren't commercially available aren't considered a copy. However, combining two drugs into one — like adding vitamin B6 or B12 — would be considered a copy under a strict reading of FDA guidance. But tweaking the dosage and adding in other commercially available drugs wouldn't be considered an essential copy, he added.""FDA guidance are pretty clear about what is and is not a copy,"" Brunner said. ""And I would say any compounding pharmacy or outsourcing facility that continues to prepare copies of tirzepatide injection after today are putting themselves in a certain amount of legal risks."" John Herr, pharmacist and owner of Town & Country Compounding Pharmacy, stopped compounding tirzepatide earlier this month. He didn't want to take the risk even though his 300 to 400 patients on it have been calling nonstop to complain about losing access.Town & Country, based in Ramsey, New Jersey, was charging patients about $200 a month — about one-fifth the list price for Zepbound and less than half the price Lilly charges self-paying patients. What happens next is an open question. Enforcing the ban on mass compounding of tirzepatide mostly falls to the FDA. The agency didn't immediately respond to CNBC's request for comment.Lilly can try to sue companies that continue, but it hasn't had much luck in the past. A Florida judge last year dismissed one of Lilly's cases, saying the company was trying to enforce a law that only the FDA can. Ahmad, the CEO of Mochi, said she isn't worried about Lilly taking legal action against her providers. The way she sees it, they have established patient-physician relationships with the autonomy to decide how best to manage their patients.The next two months will be informative. Mass compounding of semaglutide — the active ingredient in Novo Nordisk's Ozempic and Wegovy — needs to stop by the end of May, according to the FDA.Hims & Hers Health has already said it will stop selling commercially available doses of semaglutide when the time comes. Customers who have a personalized dosing regimen will be able to continue without any change, the company added. — CNBC's Leanne Miller contributed to this reportClarification: This story has been updated to clarify Scott Brunner's comments.",CNBC,22/03/2025,"[""This week was supposed to mark the end of compounding pharmacies making copycat versions of Eli Lilly's weight-loss drug Zepbound and its diabetes drug Mounjaro."", ""Online, it doesn't look like much has changed."", 'Popular websites like Amble, EllieMD, Willow and Mochi Health are all still advertising versions of tirzepatide, the active ingredient in Zepbound.', 'Some, like Ivim, have stopped taking new patients.', 'Mochi Health has no plans to stop, and neither do the four pharmacies it uses to supply patients with the medications, said Mochi CEO Myra Ahmad.', 'The company uses a network of about 500 providers to write prescriptions for weight-loss drugs, including compounded versions.', ""It's betting that offering personalized versions of the drugs will keep the company out of the crosshairs."", '""It can be different dosing schedules … some patients prefer to go up in dosage much more slowly,"" Ahmad said. ""', ""Some patients like to mix a number of other medications into their compounded formulations, depending on the side effects that they're having."", 'Some patients have side effects with any additives and brand name formulations.', 'Compounding really opens up the door for so much personalization.', '""Amble, EllieMD and Willow didn\'t respond to CNBC\'s request for comment.', 'Compounding is where pharmacies mix ingredients of a drug to create a specialized version for specific patients.', 'Say someone is allergic to a dye in a branded medication or needs a liquid form and the main manufacturer only sells capsules.', 'In that case, the patient can turn to a compounded version.', 'When drugs are in shortage, they can be compounded in larger quantities to help fill the gap.', ""Copycat versions of Lilly's Mounjaro and Zepbound and Novo Nordisk's Wegovy and Ozempic have been widely available in recent years because the U.S. Food and Drug Administration listed the brand versions as being in short supply."", 'That created a booming business for pharmacies compounding the highly popular class of weight loss and diabetes medications called GLP-1s.', 'But late last year, the FDA said all doses of Mounjaro and Zepbound were readily available and took the drug off its shortage list, spelling the end for mass compounding of the drug.', 'After months of legal challenges, the FDA gave smaller pharmacies until early March to stop and larger pharmacies until this week before it started enforcing its rules.', ""The larger facilities aren't allowed to compound tirzepatide at all anymore."", ""Smaller ones aren't supposed to make products that are essentially copies of a commercially available drug, a moniker with some wiggle room."", 'The FDA sees essential copies as those that have a dosage within 10% of the commercially available drug or combine two or more commercially available drugs.', 'Mochi insists all of its prescriptions are personalized, including doses that differ from the standard Zepbound strengths.', ""Other websites like EllieMD are advertising tirzepatide mixed with vitamin B12.Scott Brunner, CEO of the Alliance for Pharmacy Compounding, said formulations or dosage strengths that aren't commercially available aren't considered a copy."", 'However, combining two drugs into one — like adding vitamin B6 or B12 — would be considered a copy under a strict reading of FDA guidance.', ""But tweaking the dosage and adding in other commercially available drugs wouldn'tbe considered an essential copy, he added."", '""FDA guidance are pretty clear about what is and is not a copy,"" Brunner said. ""', 'And I would say any compounding pharmacy or outsourcing facility that continues to prepare copies of tirzepatide injection after today are putting themselves in a certain amount of legal risks.', '""John Herr, pharmacist and owner of Town & Country Compounding Pharmacy, stopped compounding tirzepatide earlier this month.', ""He didn't want to take the risk even though his 300 to 400 patients on it have been calling nonstop to complain about losing access."", 'Town & Country, based in Ramsey, New Jersey, was charging patients about $200 a month — about one-fifth the list price for Zepbound and less than half the price Lilly charges self-paying patients.', 'What happens next is an open question.', 'Enforcing the ban on mass compounding of tirzepatide mostly falls to the FDA.', ""The agency didn't immediately respond to CNBC's request for comment."", ""Lilly can try to sue companies that continue, but it hasn't had much luck in the past."", ""A Florida judge last year dismissed one of Lilly's cases, saying the company was trying to enforce a law that only the FDA can."", ""Ahmad, the CEO of Mochi, said she isn't worried about Lilly taking legal action against her providers."", 'The way she sees it, they have established patient-physician relationships with the autonomy to decide how best to manage their patients.', 'The next two months will be informative.', ""Mass compounding of semaglutide — the active ingredient in Novo Nordisk's Ozempic and Wegovy — needs to stop by the end of May, according to the FDA.Hims & Hers Health has already said it will stop selling commercially available doses of semaglutide when the time comes."", 'Customers who have a personalized dosing regimen will be able to continue without any change, the company added.—', ""CNBC's Leanne Miller contributed to this reportClarification: This story has been updated to clarify Scott Brunner's comments.""]",0.0547534251122153,"Popular websites like Amble, EllieMD, Willow and Mochi Health are all still advertising versions of tirzepatide, the active ingredient in Zepbound.",He didn't want to take the risk even though his 300 to 400 patients on it have been calling nonstop to complain about losing access.,0.9512409269809724,That created a booming business for pharmacies compounding the highly popular class of weight loss and diabetes medications called GLP-1s.,,2025-03-24
+"Dollar General CEO warns consumers are cash-strapped, and says 2025 won't be better",https://www.cnbc.com/2025/03/13/dollar-general-ceo-consumer-warning.html,2025-03-13T20:08:00+0000,"In this articleDollar General CEO Todd Vasos said on Thursday that inflation continues to hurt the discounter's customers and that the macroeconomic environment won't improve this year.On the company's fourth-quarter earnings call, Vasos said customers are expecting value and convenience ""more than ever"" from the dollar-store chain.""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation. Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" Vasos said. ""As we enter 2025, we are not anticipating improvement in the macro environment, particularly for our core customer.""Dollar General's core consumer is ""always strained"" due to their economic status, but also resourceful, Vasos said.""We've started to see where [our customer is] getting her sea legs, if you will, on the additional inflation that's been very sticky out there, and she's starting to understand her budgets even more,"" Vasos said.Part of the uncertainty, Vasos said, stems from the potential impact of President Donald Trump's tariffs on the consumer.When Trump imposed tariffs during his first term in office in 2018 and 2019, Dollar General had to raise some prices in line with others in the industry, Vasos said. But the general store was able to mitigate the impact back then and is ""well positioned"" to do so again this year, he said.""Given the already stressed financial condition of our core customer, we are closely monitoring these and any other potential economic headwinds, including any changes to government entitlement programs,"" Vasos said.CFO Kelly Dilts said the company's 2025 guidance factors in continued economic pressure on the consumer, but does not account for further changes to tariff policy or government initiatives like the Supplemental Nutrition Assistance Program, which subsidizes food for low-income Americans.For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction. Customer traffic fell 1.1% during the period, ""impacted by ongoing financial pressures of our core consumer,"" Vasos said.Alongside its fourth-quarter earnings, Dollar General said Thursday it would close 96 Dollar General stores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations this year. Popshelf primarily serves higher-income shoppers with lower-priced products.Shares of Dollar General closed up nearly 7% on Thursday.",CNBC,13/03/2025,"[""In this articleDollar General CEO Todd Vasos said on Thursday that inflation continues to hurt the discounter's customers and that the macroeconomic environment won't improve this year."", 'On the company\'s fourth-quarter earnings call, Vasos said customers are expecting value and convenience ""more than ever"" from the dollar-store chain.', '""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation.', 'Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" Vasos said. ""', 'As we enter 2025, we are not anticipating improvement in the macro environment, particularly for our core customer.', '""Dollar General\'s core consumer is ""always strained"" due to their economic status, but also resourceful, Vasos said.', '""We\'ve started to see where [our customer is] getting her sea legs, if you will, on the additional inflation that\'s been very sticky out there, and she\'s starting to understand her budgets even more,"" Vasos said.', ""Part of the uncertainty, Vasos said, stems from the potential impact of President Donald Trump's tariffs on the consumer."", 'When Trump imposed tariffs during his first term in office in 2018 and 2019, Dollar General had to raise some prices in line with others in the industry, Vasos said.', 'But the general store was able to mitigate the impact back then and is ""well positioned"" to do so again this year, he said.', '""Given the already stressed financial condition of our core customer, we are closely monitoring these and any other potential economic headwinds, including any changes to government entitlement programs,"" Vasos said.', ""CFO Kelly Dilts said the company's 2025 guidance factors in continued economic pressure on the consumer, but does not account for further changes to tariff policy or government initiatives like the Supplemental Nutrition Assistance Program, which subsidizes food for low-income Americans."", 'For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction.', 'Customer traffic fell 1.1% during the period, ""impacted by ongoing financial pressures of our core consumer,""Vasos said.', 'Alongside its fourth-quarter earnings, Dollar General said Thursday it would close 96Dollar Generalstores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations this year.', 'Popshelf primarily serves higher-income shopperswith lower-priced products.', 'Shares of Dollar General closed up nearly 7% on Thursday.']",-0.0437389128385915,"For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction.","""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation.",-0.0899762565439397,"For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction.","Customer traffic fell 1.1% during the period, ""impacted by ongoing financial pressures of our core consumer,""Vasos said.",2025-03-24
+Dollar General store review and closures dent fourth-quarter earnings,https://www.cnbc.com/2025/03/13/dollar-general-dg-q4-2024-earnings.html,2025-03-13T20:07:57+0000,"In this articleDollar General on Thursday reported fiscal fourth-quarter revenue that narrowly beat Wall Street estimates, while a store portfolio review cut into the chain's profit.As part of the reevaluation, the dollar-store chain said it will close 96 Dollar General stores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations in the first quarter. Popshelf stores cater to higher-income shoppers seeking inexpensive products.On the company's earnings call, CEO Todd Vasos warned consumers ""only have enough money for basic essentials"" and that the macro environment isn't likely to improve this year.Shares of the company closed up nearly 7% on Thursday.Here's how the discounter did compared with what Wall Street was expecting for the quarter ended Jan. 31, based on a survey of analysts by LSEG:Fourth-quarter revenue rose 4.5% from $9.86 billion during the same quarter in 2023. Revenue for the full year came in at $40.61 billion, up almost 5% from $38.69 billion in 2023.For fiscal 2025, the chain forecasts revenue to grow between 3.4% and 4.4%, while Wall Street was expecting annual growth of 4.1%, according to LSEG. Dollar General expects earnings per share for the year to come in between $5.10 and $5.80, slightly under the $5.85 anticipated by analysts, according to LSEG.Dollar General reported fourth-quarter net income of $191 million, or 87 cents per share, compared with net income of $402 million, or $1.83 per share, during the same quarter a year prior.The discounter said its portfolio review impacted earnings per share by 81 cents.Operating profit for the quarter fell over 49% year over year to $294 million. The company attributed $232 million in charges to the store closures from the portfolio review as well as Popshelf impairment charges.""As we look to build on the substantial progress we made on our Back to Basics work in fiscal 2024, we believe this review was appropriate to further strengthen the foundation of our business,"" said Vasos in a news release. ""While the number of closings represents less than one percent of our overall store base, we believe this decision better positions us to serve our customers and communities.""Same-store sales, which Dollar General defines as revenue from stores open for at least 13 months, grew 1.2% year over year for the quarter. They're expected to grow 1.2% to 2.2% for the coming fiscal year, the company said.Dollar General announced in December that it was testing same-day delivery for customers. As inflation takes a toll on lower-income consumers, dollar stores like Dollar General and Dollar Tree have faced increased competition from retailers like Walmart with greater e-commerce presences.In January, Dollar General said it would begin selling about 100 new private-brand products, most of which will fall under its Clover Valley label and includes items such as honey mustard and cinnamon rolls, in the first quarter.",CNBC,13/03/2025,"[""In this articleDollar General on Thursday reported fiscal fourth-quarter revenue that narrowly beat Wall Street estimates, while a store portfolio review cut into the chain's profit."", 'As part of the reevaluation, the dollar-store chain said it will close 96Dollar Generalstores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations in the first quarter.', 'Popshelf stores cater to higher-income shoppers seeking inexpensive products.', 'On the company\'s earnings call, CEO Todd Vasos warned consumers ""only have enough money for basic essentials"" and that the macro environment isn\'t likely to improve this year.', 'Shares of the company closed up nearly 7% on Thursday.', ""Here's how the discounter did compared with what Wall Street was expecting for the quarter ended Jan. 31, based on a survey of analysts by LSEG:Fourth-quarter revenue rose 4.5% from $9.86 billion during the same quarter in 2023."", 'Revenue for the full year came in at $40.61 billion, up almost 5% from $38.69 billion in 2023.For fiscal 2025, the chain forecasts revenue to grow between 3.4% and 4.4%, while Wall Street was expecting annual growth of 4.1%, according to LSEG.', 'Dollar General expects earnings per share for the year to come in between $5.10 and $5.80, slightly under the $5.85 anticipated by analysts, according to LSEG.Dollar General reported fourth-quarter net income of $191 million, or 87 cents per share, compared with net income of $402 million, or $1.83 per share, during the same quarter a year prior.', 'The discounter said its portfolio review impacted earnings per share by 81 cents.', 'Operating profit for the quarter fell over 49% year over year to $294 million.', 'The company attributed $232 million in charges to the store closures from the portfolio review as well as Popshelf impairment charges.', '""As we look to build on the substantial progress we made on our Back to Basics work in fiscal 2024, we believe this review was appropriate to further strengthen the foundation of our business,"" saidVasos in a news release. ""', 'While the number of closings represents less than one percent of our overall store base, we believe this decision better positions us to serve our customers and communities.', '""Same-store sales, which Dollar General defines as revenue from stores open for at least 13 months, grew 1.2% year over year for the quarter.', ""They're expected to grow 1.2% to 2.2% for the coming fiscal year, the company said."", 'Dollar General announced in December that it was testing same-day delivery for customers.', 'As inflation takes a toll on lower-income consumers, dollar stores like Dollar General and Dollar Tree have faced increased competition from retailers like Walmart with greater e-commerce presences.', 'In January, Dollar General said it would begin selling about 100 new private-brand products, most of which will fall under its Clover Valley label and includes items such as honey mustard and cinnamon rolls, in the first quarter.']",0.2379552392793426,"As inflation takes a toll on lower-income consumers, dollar stores like Dollar General and Dollar Tree have faced increased competition from retailers like Walmart with greater e-commerce presences.",The company attributed $232 million in charges to the store closures from the portfolio review as well as Popshelf impairment charges.,0.0338358084360758,"Revenue for the full year came in at $40.61 billion, up almost 5% from $38.69 billion in 2023.For fiscal 2025, the chain forecasts revenue to grow between 3.4% and 4.4%, while Wall Street was expecting annual growth of 4.1%, according to LSEG.",Operating profit for the quarter fell over 49% year over year to $294 million.,2025-03-24
+NBA may bring back iconic highlight show 'NBA Inside Stuff',https://www.cnbc.com/2025/03/19/nba-may-bring-back-nba-inside-stuff-highlight-show.html,2025-03-20T16:35:19+0000,"The NBA is quietly preparing to bring back its iconic show ""NBA Inside Stuff.""On Monday, the league filed two trademark applications for ""NBA Inside Stuff,"" the name of the long-running NBA highlight show that has aired on three different networks during its history — most notably from 1990 to 2006 on NBC and ABC. The show was briefly resurrected from 2013 to 2016 on NBA TV.NBC is considering bringing back a ""refreshed version"" of the program, according to a person familiar with the matter. NBC will once again air live NBA games next season after losing the broadcast rights in 2002.No decision has been made on whether to renew the show, the people said. An NBC spokesman declined to comment.The NBA did not immediately respond to a request to comment. However, a source close to the league said the filing is part of the NBA's routine trademark process.The league previously owned multiple ""NBA Inside Stuff"" trademark registrations, but let them lapse, likely because it was no longer using the trademark.""NBA Inside Stuff"" was initially hosted by sportscaster Ahmad Rashad, who aimed to popularize and humanize NBA players with behind-the-scenes access. The show's ""Rewind"" segment, featuring game highlights and Rashad yelling out days of the week, became a staple of the show.The league's two trademark filings indicate the league aims to use the ""NBA Inside Stuff"" name for a television show and to produce branded merchandise.Josh Gerben, a trademark attorney at Gerben IP, said television doesn't necessarily mean linear TV. It could be in the form of a YouTube or TikTok show.""This is great intellectual property for the league,"" Gerben said. ""I think it makes a lot of business sense right now.""The league would likely try to license the IP to one of its media partners, Gerben said.In July, the NBA signed a 11-year, $76 billion media rights deal with The Walt Disney Company, NBCUniversal and Amazon that kicks off next season.NBC may be trying to tap into nostalgia from its past run showing NBA games. In November, composer John Tesh revealed on CNBC that he's working with NBC to bring back his famous ""Roundball Rock"" song.Disclosure: NBCUniversal is the parent company of CNBC.",CNBC,20/03/2025,"['The NBA is quietly preparing to bring back its iconic show ""NBA Inside Stuff.', '""On Monday, the league filed two trademark applications for ""NBA Inside Stuff,"" the name of the long-running NBA highlight show that has aired on three different networks during its history — most notably from 1990 to 2006 on NBC and ABC.', 'The show was briefly resurrected from 2013 to 2016 on NBA TV.NBC is considering bringing back a ""refreshed version"" of the program, according to a person familiar with the matter.', 'NBC will once again air live NBA games next season after losing the broadcast rights in 2002.No decision has been made on whether to renew the show, the people said.', 'An NBC spokesman declined to comment.', 'The NBA did not immediately respond to a request to comment.', ""However, a source close to the league said the filing is part of the NBA's routine trademark process."", 'The league previously owned multiple ""NBA Inside Stuff"" trademark registrations, but let them lapse, likely because it was no longer using the trademark.', '""NBA Inside Stuff"" was initially hosted by sportscaster Ahmad Rashad, who aimed to popularize and humanize NBA players with behind-the-scenes access.', 'The show\'s ""Rewind"" segment, featuring game highlights and Rashad yelling out days of the week, became a staple of the show.', 'The league\'s two trademark filings indicate the league aims to use the ""NBA Inside Stuff"" name for a television show and to produce branded merchandise.', ""Josh Gerben, a trademark attorney at Gerben IP, said television doesn't necessarily mean linear TV."", 'It could be in the form of a YouTube or TikTok show.', '""This is great intellectual property for the league,"" Gerben said. ""', 'I think it makes a lot of business sense right now.', '""The league would likely try to license the IP to one of its media partners, Gerben said.', 'In July, the NBA signed a 11-year, $76 billion media rights deal with The Walt Disney Company, NBCUniversal and Amazon that kicks off next season.', 'NBC may be trying to tap into nostalgia from its past run showing NBA games.', 'In November, composer John Tesh revealed on CNBC that he\'s working with NBC to bring back his famous ""Roundball Rock"" song.', 'Disclosure: NBCUniversal is the parent company of CNBC.']",0.0435575810450199,"""This is great intellectual property for the league,"" Gerben said. ""","The league previously owned multiple ""NBA Inside Stuff"" trademark registrations, but let them lapse, likely because it was no longer using the trademark.",0.9950615962346396,I think it makes a lot of business sense right now.,,2025-03-24
+"Klarna, nearing IPO, plucks lucrative Walmart fintech partnership from rival Affirm",https://www.cnbc.com/2025/03/17/walmart-klarna-nearing-ipo-wins-fintech-partnership-from-affirm.html,2025-03-17T21:14:32+0000,"In this articleSwedish fintech firm Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm, CNBC has learned.Klarna, which just disclosed its intention to go public in the U.S., will provide loans to Walmart customers in stores and online through the retailer's majority-owned fintech startup OnePay, according to people with knowledge of the situation who declined to be identified speaking about the partnership.OnePay, which updated its brand name from One this month, will handle the user experience via its app, while Klarna will make underwriting decisions for loans ranging from three months to 36 months in length, and with annual interest rates from 10% to 36%, said the people.The new product will be launched in the coming weeks and will be scaled to all Walmart channels by the holiday season, likely leaving it the retailer's only buy now, pay later option by year-end.The move heightens the rivalry between Affirm and Klarna, two of the world's biggest BNPL players, just as Klarna is set to go public. Although both companies claim to offer a better alternative for borrowers than credit cards, Affirm is more U.S.-centric and has been public since 2021, while Klarna's network is more global.Shares of Affirm dropped 4.2% Monday after falling as much as 14% earlier in the session.The deal comes at an opportune time for Klarna as it readies one of the year's most highly anticipated initial public offerings. After a dearth of big tech listings in the U.S. since 2021, the Klarna IPO will be a key test for the industry. The firm's private market valuation has been a roller coaster: It soared to $46 billion in 2021, then crashed by 85% the next year amid the broader decline of high-flying fintech firms.CEO Sebastian Siemiatkowski has worked to improve Klarna's prospects, including touting its use of generative artificial intelligence to slash expenses and headcount. The company returned to profitability in 2023, and its valuation is now roughly $15 billion, according to analysts, nearly matching the public market value of Affirm.The OnePay deal is a ""game changer"" for Klarna, Siemiatkowski said in a release confirming the pact.""Millions of people in the U.S. shop at Walmart every day — and now they can shop smarter with OnePay installment loans powered by Klarna,"" he said. ""We look forward to helping redefine checkout at the world's largest retailer — both online and in stores.""As part of the deal, OnePay can take a position in Klarna. In its F-1 filing, Klarna said it entered into a ""commercial agreement with a global partner"" in which it is giving warrants to purchase more than 15 million shares for an average price of $34 each. OnePay is the partner, people with knowledge of the deal confirmed.For Affirm, the move is likely to be seen as a blow at a time when tech stocks are particularly vulnerable. Run by CEO Max Levchin, a PayPal co-founder, the company's stock has surged and fallen since its 2021 IPO. The lender's shares have dipped 18% this year before Monday.Affirm executives frequently mention their partnerships with big merchants as a key driver of purchase volumes and customer acquisition. In November, Affirm's chief revenue officer, Wayne Pommen, referred to Walmart and other tie-ups including those with Amazon, Shopify and Target as its ""crown jewel partnerships.""An Affirm spokesman had this statement: ""We win business when merchants want superior performance and maximum value, given our underwriting and capital markets advantages. We will continue our long-term strategy of competing on our products and entering into sustainable partnerships.""The deal is no less consequential to Walmart's OnePay, which has surged to a $2.5 billion pre-money valuation just two years after rolling out a suite of products to its customers.The startup now has more than 3 million active customers and is generating revenue at an annual run rate of more than $200 million.As part of its push to penetrate areas adjacent to its core business, Walmart executives have touted OnePay's potential to become a one-stop shop for Americans underserved by traditional banks.Walmart is the world's largest retailer and says it has 255 million weekly customers, giving the startup — which is a separate company backed by Walmart and Ribbit Capital — a key advantage in acquiring new customers.Last year, the Walmart-backed fintech began offering BNPL loans in the aisles and on checkout pages of Walmart, CNBC reported at the time. That led to speculation that it would ultimately displace Affirm, which had been the exclusive provider for BNPL loans for Walmart since 2019.OnePay's move to partner with Klarna rather than going it alone shows the company saw an advantage in going with a seasoned, at-scale provider versus using its own solution.OnePay's push into consumer lending is expected to accelerate its conversion of Walmart customers into fintech app users. Cash-strapped consumers are increasingly relying on loans to meet their needs, and the installment loan is seen as a wedge to also offer users the banking, savings and payments features that OnePay has already built.Americans held a record $1.21 trillion in credit card debt in the fourth quarter of last year, about $441 billion higher than balances in 2021, according to Federal Reserve Bank of New York data.""It's never been more important to give consumers simple and convenient ways to access fair credit at the point of sale,"" said OnePay CEO Omer Ismail. ""That's especially true for the millions of people who turn to Walmart every week for everything.""Next up is likely a OnePay-branded credit card offered with the help of a new banking partner after Walmart successfully exited its partnership with Capital One.""We're looking forward to going down this new path where not only can they provide installment credit ... but also revolving credit,"" Walmart CFO John David Rainey told investors in June.— CNBC's MacKenzie Sigalos and Melissa Repko contributed to this report.",CNBC,17/03/2025,"['In this articleSwedish fintech firm Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm, CNBC has learned.', ""Klarna, which just disclosed its intention to go public in the U.S., will provide loans to Walmart customers in stores and online through the retailer's majority-owned fintech startup OnePay, according to people with knowledge of the situation who declined to be identified speaking about the partnership."", 'OnePay, which updated its brand name from One this month, will handle the user experience via its app, while Klarna will make underwriting decisions for loans ranging from three months to 36 months in length, and with annual interest rates from 10% to 36%, said the people.', ""The new product will be launched in the coming weeks and will be scaled to all Walmart channels by the holiday season, likely leaving it the retailer's only buy now, pay later option by year-end."", ""The move heightens the rivalry between Affirm and Klarna, two of the world's biggest BNPL players, just as Klarna is set to go public."", ""Although both companies claim to offer a better alternative for borrowers than credit cards, Affirm is more U.S.-centric and has been public since 2021, while Klarna's network is more global."", 'Shares of Affirm dropped 4.2% Monday after falling as much as 14% earlier in the session.', ""The deal comes at an opportune time for Klarna as it readies one of the year's most highly anticipated initial public offerings."", 'After a dearth of big tech listings in the U.S. since 2021, the Klarna IPO will be a key test for the industry.', ""The firm's private market valuation has been a roller coaster: It soared to $46 billion in 2021, then crashed by 85% the next year amid the broader decline of high-flying fintech firms."", ""CEO Sebastian Siemiatkowski has worked to improve Klarna's prospects, including touting its use of generative artificial intelligence to slash expenses and headcount."", 'The company returned to profitability in 2023, and its valuation is now roughly $15 billion, according to analysts, nearly matching the public market value of Affirm.', 'The OnePay deal is a ""game changer"" for Klarna, Siemiatkowski said in a release confirming the pact.', '""Millions of people in the U.S. shop at Walmart every day — and now they can shop smarter with OnePay installment loans powered by Klarna,"" he said. ""', ""We look forward to helping redefine checkout at the world's largest retailer — both online and in stores."", '""As part of the deal, OnePay can take a position in Klarna.', 'In its F-1 filing, Klarna said it entered into a ""commercial agreement with a global partner"" in which it is giving warrants to purchase more than 15 million shares for an average price of $34 each.', 'OnePay is the partner, people with knowledge of the deal confirmed.', 'For Affirm, the move is likely to be seen as a blow at a time when tech stocks are particularly vulnerable.', ""Run by CEO Max Levchin, a PayPal co-founder, the company's stock has surged and fallen since its 2021 IPO."", ""The lender's shares have dipped 18% this year before Monday."", 'Affirm executives frequently mention their partnerships with big merchants as a key driver of purchase volumes and customer acquisition.', 'In November, Affirm\'s chief revenue officer, Wayne Pommen, referred to Walmart and other tie-ups including those with Amazon, Shopify and Target as its ""crown jewel partnerships.', '""An Affirm spokesman had this statement: ""We win business when merchants want superior performance and maximum value, given our underwriting and capital markets advantages.', 'We will continue our long-term strategy of competing on our products and entering into sustainable partnerships.', '""The deal is no less consequential to Walmart\'s OnePay, which has surged to a $2.5 billion pre-money valuation just two years after rolling out a suite of products to its customers.', 'The startup now has more than 3 million active customers and is generating revenue at an annual run rate of more than $200 million.', ""As part of its push to penetrate areas adjacent to its core business, Walmart executives have touted OnePay's potential to become a one-stop shop for Americans underserved by traditional banks."", ""Walmart is the world's largest retailer and says it has 255 million weekly customers, giving the startup — which is a separate company backed by Walmart and Ribbit Capital — a key advantage in acquiring new customers."", 'Last year, the Walmart-backed fintech began offering BNPL loans in the aisles and on checkout pages of Walmart, CNBC reported at the time.', ""That led to speculation that it would ultimately displace Affirm, which had been the exclusive provider for BNPL loans for Walmart since 2019.OnePay's move to partner with Klarna rather than going it alone shows the company saw an advantage in going with a seasoned, at-scale provider versus using its own solution."", ""OnePay's push into consumer lending is expected to accelerate its conversion of Walmart customers into fintech app users."", 'Cash-strapped consumers are increasingly relying on loans to meet their needs, and the installment loan is seen as a wedge to also offer users the banking, savings and payments features that OnePay has already built.', 'Americans held a record $1.21 trillion in credit card debt in the fourth quarter of lastyear, about $441 billion higher than balances in 2021, according to Federal Reserve Bank of New York data.', '""It\'s never been more important to give consumers simple and convenient ways to access fair credit at the point of sale,"" said OnePay CEO Omer Ismail. ""', ""That's especially true for the millions of people who turn to Walmart every week for everything."", '""Next up is likely a OnePay-branded credit card offered with the help of a new banking partner after Walmart successfully exited its partnership with Capital One.', '""We\'re looking forward to going down this new path where not only can they provide installment credit ... but also revolving credit,"" Walmart CFO John David Rainey told investors in June.—', ""CNBC's MacKenzie Sigalos and Melissa Repko contributed to this report.""]",0.2201782648605297,"""An Affirm spokesman had this statement: ""We win business when merchants want superior performance and maximum value, given our underwriting and capital markets advantages.","After a dearth of big tech listings in the U.S. since 2021, the Klarna IPO will be a key test for the industry.",0.250191193819046,"""The deal is no less consequential to Walmart's OnePay, which has surged to a $2.5 billion pre-money valuation just two years after rolling out a suite of products to its customers.",The lender's shares have dipped 18% this year before Monday.,2025-03-24
+"February home resales jump much more than expected, despite higher mortgage rates",https://www.cnbc.com/2025/03/20/february-home-resales-jump-more-than-expected-despite-mortgage-rates.html,2025-03-20T19:39:10+0000,"Sales of previously owned homes in February rose 4.2% from January to 4.26 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Industry analysts had expected a drop of 3%.Sales were 1.2% lower compared with February of last year.This count is based on closings, so contracts signed in December and January, when mortgage rates were rising and briefly held in the 7% range on the 30-year fixed. Rates today are in the high 6% range.""Home buyers are slowly entering the market,"" said Lawrence Yun, NAR's chief economist, in a release. ""Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand.""Sales were only higher annually in the highest price categories, above $750,000. Sales around the median price were down 3% year over year.Inventory at the end of February stood at 1.24 million units, an increase of 17% year over year, but still just a 3.5-month supply at the current sales pace. A six-month supply is considered balanced between buyer and seller.""We are still in a relatively tight market condition,"" Yun said.That tight supply is keeping pressure on prices. The median price of a home sold in February was $398,400, up 3.8% from the same time last year. That is a record high for the month of February. All four geographical regions of the country saw price increases.First-time buyers edged back into the market, making up 31% of February sales compared with 26% the year before. Investors, however, pulled back, accounting for just 16% of sales, down from 21% last year.All-cash sales, however, remained relatively steady at 32% of sales, down just slightly from the year before. Cash is usually favored by investors, so this suggests, given the drop in investor sales, that more owner-occupants are using cash.While these sales were higher than expected, they are more indicative of the market two months ago than they are now. A separate survey of real estate agents in February from John Burns Research and Consulting found more than half of respondents indicated this spring's resale market is weaker than normal. This resale index dropped for the first time in four months.""Current sales ratings remain weak, with 53% of agents reporting weaker than normal sales. This is better than 56% one year ago but lower than January's 47%. Affordability constraints and economic uncertainty keep many buyers on the sidelines,"" according to the report from John Burns.",CNBC,20/03/2025,"['Sales of previously owned homes in February rose 4.2% from January to 4.26 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.', 'Industry analysts had expected a drop of 3%.Sales were 1.2% lower compared with February of last year.', 'This count is based on closings, so contracts signed in December and January, when mortgage rates were rising and briefly held in the 7% range on the 30-year fixed.', 'Rates today are in the high 6% range.', '""Home buyers are slowly entering the market,"" said Lawrence Yun, NAR\'s chief economist, in a release. ""', 'Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand.', '""Sales were only higher annually in the highest price categories, above $750,000.', 'Sales around the median price were down 3% year over year.', 'Inventory at the end of February stood at 1.24 million units, an increase of 17% year over year, but still just a 3.5-month supply at the current sales pace.', 'A six-month supply is considered balanced between buyer and seller.', '""We are still in a relatively tight market condition,"" Yun said.', 'That tight supply is keeping pressure on prices.', 'The median price of a home sold in February was $398,400, up 3.8% from the same time last year.', 'That is a record high for the month of February.', 'All four geographical regions of the country saw price increases.', 'First-time buyers edged back into the market, making up 31% of February sales compared with 26% the year before.', 'Investors, however, pulled back, accounting for just 16% of sales, down from 21% last year.', 'All-cash sales, however, remained relatively steady at 32% of sales, down just slightly from the year before.', 'Cash is usually favored by investors, so this suggests, given the drop in investor sales, that more owner-occupants are using cash.', 'While these sales were higher than expected, they are more indicative of the market two months ago than they are now.', ""A separate survey of real estate agents in February from John Burns Research and Consulting found more than half of respondents indicated this spring's resale market is weaker than normal."", 'This resale index dropped for the first time in four months.', '""Current sales ratings remain weak, with 53% of agents reporting weaker than normal sales.', ""This is better than 56% one year ago but lower than January's 47%."", 'Affordability constraints and economic uncertainty keep many buyers on the sidelines,"" according to the report from John Burns.']",-0.0939364194290539,"Cash is usually favored by investors, so this suggests, given the drop in investor sales, that more owner-occupants are using cash.","""Current sales ratings remain weak, with 53% of agents reporting weaker than normal sales.",-0.0761304951849437,"Sales of previously owned homes in February rose 4.2% from January to 4.26 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.",Industry analysts had expected a drop of 3%.Sales were 1.2% lower compared with February of last year.,2025-03-24
+Watch NASA astronauts return to Earth on SpaceX capsule after months on the ISS,https://www.cnbc.com/2025/03/18/watch-live-astronauts-return-spacex-capsule-iss.html,2025-03-18T22:11:42+0000,"[The stream is slated to start at 4:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]NASA astronauts Butch Wilmore and Suni Williams are set to splash down on Earth on Tuesday evening after spending more than nine months in space.They were originally supposed to be at the International Space Station for a little over a week, but their stay was extended after the Boeing Starliner capsule that they took in June experienced issues.Instead, Wilmore and Williams are returning on a SpaceX Dragon spacecraft with fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov.Subscribe to CNBC on YouTube.",CNBC,18/03/2025,"['[The stream is slated to start at 4:45 p.m. ET.', 'Please refresh the page if you do not see a player above at that time.]NASA astronauts Butch Wilmore and Suni Williams are set to splash down on Earth on Tuesday evening after spending more than nine months in space.', 'They were originally supposed to be at the International Space Station for a little over a week, but their stay was extended after the Boeing Starliner capsule that they took in June experienced issues.', 'Instead, Wilmore and Williams are returning on aSpaceX Dragon spacecraftwith fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov.', 'Subscribe to CNBC on YouTube.']",0.0636421993542483,Please refresh the page if you do not see a player above at that time.]NASA astronauts Butch Wilmore and Suni Williams are set to splash down on Earth on Tuesday evening after spending more than nine months in space.,,,,,2025-03-24
+PepsiCo buys prebiotic soda brand Poppi for nearly $2 billion,https://www.cnbc.com/2025/03/17/pepsico-buys-prebiotic-soda-brand-poppi-for-more-than-1point6-billion.html,2025-03-17T18:22:35+0000,"In this articlePepsiCo said Monday that it is buying prebiotic soda brand Poppi for nearly $2 billion.While soda consumption has broadly fallen over the past two decades in the U.S., prebiotic sodas, fueled by industry newcomers Poppi and Olipop, have won over health-conscious consumers over the past five years.The category's growth makes it attractive for Pepsi and its rival, Coca-Cola, which recently launched its own prebiotic soda brand, Simply Pop. Pepsi had reportedly aimed to launch its own functional soda under its Soulboost brand, but it canceled those plans, likely paving the way to a deal with Poppi.Pepsi said it plans to acquire the upstart Poppi for $1.95 billion. The deal includes $300 million of anticipated cash tax benefits, making the net purchase price $1.65 billion.Pepsi will also have to make additional payments if Poppi achieves certain performance milestones within a set time frame after the acquisition closes. The company did not say when the deal is expected to close, pending regulatory approval.Poppi's founders Allison and Stephen Ellsworth launched the brand back in 2018, the same year that Olipop was founded. Poppi's formula includes apple cider vinegar, prebiotics and just five grams of sugar.By 2023, Poppi's annual sales reportedly crossed $100 million.The company recently made its second straight Super Bowl appearance with an ad during the big game, demonstrating both its deep pockets and a desire to reach an even wider audience.But as Poppi's sales have grown, it has also attracted backlash for its health claims. For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed. Poppi and the plaintiff moved to settle the suit on Friday for $8.9 million, according to court filings.For its part, rival Olipop was valued at $1.85 billion during its latest funding round, which was announced in February. In 2023, Olipop founder and CEO Ben Goodwin told CNBC that soda giants PepsiCo and Coca-Cola had already come knocking about a potential sale.",CNBC,17/03/2025,"['In this articlePepsiCo said Monday that it is buying prebiotic soda brand Poppi for nearly $2 billion.', 'While soda consumption has broadly fallen over the past two decades in the U.S., prebiotic sodas, fueled by industry newcomers Poppi and Olipop, have won over health-conscious consumers over the past five years.', ""The category's growth makes it attractive for Pepsi and its rival, Coca-Cola, which recently launched its own prebiotic soda brand, Simply Pop."", 'Pepsi had reportedly aimed to launch its own functional soda under its Soulboost brand, but it canceled those plans, likely paving the way to a deal with Poppi.', 'Pepsi said it plans to acquire the upstart Poppi for $1.95 billion.', 'The deal includes $300 million of anticipated cash tax benefits, making the net purchase price $1.65 billion.', 'Pepsi will also have to make additional payments if Poppi achieves certain performance milestones within a set time frame after the acquisition closes.', 'The company did not say when the deal is expected to close, pending regulatory approval.', ""Poppi's foundersAllison and Stephen Ellsworth launched the brand back in 2018, the same year that Olipop was founded."", ""Poppi's formula includes apple cider vinegar, prebiotics and just five grams of sugar."", ""By 2023, Poppi's annual sales reportedly crossed $100 million."", 'The company recently made its second straight Super Bowl appearance with an ad during the big game, demonstrating both its deep pockets and a desire to reach an even wider audience.', ""But as Poppi's sales have grown, it has also attracted backlash for its health claims."", 'For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed.', 'Poppi and the plaintiff moved to settle the suit on Friday for $8.9 million, according to court filings.', 'For its part, rival Olipop was valued at $1.85 billion during its latest funding round, which was announced in February.', 'In 2023, Olipop founder and CEO Ben Goodwin told CNBC that soda giants PepsiCo and Coca-Cola had already come knocking about a potential sale.']",0.2130677468922047,"The company recently made its second straight Super Bowl appearance with an ad during the big game, demonstrating both its deep pockets and a desire to reach an even wider audience.","For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed.",0.6602089703083038,"The category's growth makes it attractive for Pepsi and its rival, Coca-Cola, which recently launched its own prebiotic soda brand, Simply Pop.","For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed.",2025-03-24
+How new professional sports leagues like SailGP are putting women at the fore,https://www.cnbc.com/2025/03/19/sailgp-professional-sports-leagues-put-women-at-fore.html,2025-03-20T13:55:31+0000,"As women's sports surge in popularity, professional leagues are increasingly touting the value of female athletes. New professional leagues like SailGP are launching with the advantage of building from the ground up, with gender diversity as part of their DNA.Noncontact and noncollision sports are leading the way. Formula 1's F1 Academy has created a pipeline for women into motorsports, with a goal of increasing female participation and representation on and off the racetrack. At the same time, it's drawing a more diverse fanbase. Roughly 41% of F1 fans now are female, with women aged 16 to 24 years old making up the fastest-growing fan group, according to Nielsen Sports.Professional male and female athletes are already competing alongside and against each other in the United Pickleball Association's unified league, the Global Mixed Gender Basketball league and in SailGP, the international sailing league co-founded by Oracle founder Larry Ellison and champion yachtsman Russell Coutts. Founded in 2018, the upstart sailing league involves 12 international teams racing on high-speed, 50-foot Catamarans, known as F50s. At speeds of more than 60 mph, SailGP is gaining a reputation as a sort of Formula 1 on the water.""The whole goal is to train athletes to be capable of racing on an F50, which is one of the more complex boats in the world – maybe the most difficult boat to race in the world right now,"" said Coutts, who is also SailGP's chief executive officer. The league didn't set out with gender equity goals in mind, Coutts said, but simply sought to create the most compelling competition.  ""We believe that male and female athletes can compete at the top of our sport against each other and with each other, so when we we saw that there was a difference in participation levels – and didn't really see any logical reason for that – we took some steps to address that and we'll take further steps in the future,"" said Coutts. To bridge the experience gap most female sailors face, SailGP created programs to draw and train talent. In December, its Women's Performance Camp in Dubai, United Arab Emirates, marked its largest on-the-water women's athlete training camp to date. The league also requires each team to have at least one female athlete onboard during races and has set targets to have at least two female athletes per race crew in key positions within the next five years. Those key positions are the driver, who steers the boat; the strategist, who advises on tactics; the wing trimmer, who adjusts the 85- to 90-foot carbon-fiber wing sail; and the flight controller, who dictates how high or low the boat flies over the water.The next SailGP races take place Saturday and Sunday in San Francisco, the second in back-to-back U.S. weekend races. SailGP has embedded inclusivity and sustainability into the competition via an Impact League that runs parallel to the on-the-water championship. Teams earn points for taking action to make sailing more accessible and to protect the environment in order to reach the podium. Winning teams earn cash prize donations to their partners. The Canadian team is in the lead in the Impact League thanks to its work to offer training opportunities, sailing camps and demo days to introduce foiling to new Canadian athletes.""That changes the mindframe of very competitive people to care, and to compete, in a world of impact and sustainability as well,"" said SailGP Chief Marketing Officer Leah Davis. ""When you challenge the world's most competitive people to be good at something else, they will turn their eyes to that pretty quickly, and in a pretty impactful way.""Off the water, 43% of SailGP's C-suite is female, up from just 14% in 2021. For comparison, 29% of C-suite roles at Fortune 500 companies are held by women, according to McKinsey's Women in the Workplace 2024 report. The league last year introduced Apex Group's accelerator program, aimed at increasing female representation at senior levels of the company. It has also introduced initiatives to train more women on the operations, technology and boat-building side of the business. For example, SailGP Technologies based in Southampton, U.K., offers an apprenticeship training scheme – eight participants join the program each year, four male and four female. Today, 33% of directors at SailGP and 52% of heads of departments are female.The overall business strategy is helping to grow the league's appeal to a new set of fans. For the first time in its history, more than half of the ticket holders in attendance at last season's New Zealand Championships in March were female, a trend that has held steady this season.""This demographic has been underserved in sports,"" said SailGP Chief Purpose Officer Fiona Morgan. ""A huge part of our headroom in fans is young fans – and actually they're female fans – who probably didn't think about sailing, but they like extreme sports or sustainability, or they like sports that have gender equity at the heart.""In June, Tommy Hilfiger was announced as the United States SailGP team's official lifestyle apparel partner, joining brands such as Red Bull, Emirates, Mubadala, Rockwool and Deutsche Bank in sponsoring individual teams. In November, SailGP announced it had signed Rolex as its first title sponsor.""I don't think many brands nowadays will go into sponsorship that doesn't have diversity or equity at some point in it,"" said Morgan. ""Their consumers and their investors will ensure they do that."" In September, the league achieved a major milestone, announcing its first female driver. Two-time Olympic sailing champion Martine Grael joined for the 2024-25 season to skipper the new Mubadala Brazil SailGP Team, making history and immediately climbing the leaderboard. After championships in Dubai, Auckland, New Zealand, Sydney and Los Angeles, teams from the U.K., Australia and New Zealand are leading the league. Grael has steered her team ahead of the Germany SailGP team, and is proving competitive against the more experienced United States team.""In the past — and still nowadays — you see a lot of people say, 'Girls shouldn't do that,'"" Grael said. Her response is to call out that old way of thinking: ""Shouldn't do what?""Grael credits much of her early success to familiarizing herself with the boats using SailGP's simulator, developing muscle memory before even getting on the water. Unlike traditional boats built with male sailors in mind, SailGP's modern foiling boats open opportunities for women in roles that do not require as much physical strength, she said. Knowing when to push a button and developing a good feel for the boat are equally important to the more physical functions, said Grael. ""Some guys have failed to understand that a girl is very much capable of doing the same role they're doing,"" she said.Grael is among a number of top female athletes competing in key positions in SailGP – including Emirates Great Britain Team's strategist Hannah Mills and the U.S. team's Anna Weis – and says though women are still in the minority, things are changing.Together with women competing in marquee races – like Switzerland's Justine Mettraux, who took eighth place in the Vendée Globe single-handed, nonstop, nonassisted round-the-world race this year – they are carving a path for a new cohort of women to gain opportunities and make their mark.""We have been less limited — I grew up never being told I shouldn't do something,"" said Grael. ""There's a big generation of others looking at us, and they're going to come out strong.""Correction: This story has been updated to correct that SailGP teams from the U.K., Australia and New Zealand are leading the league. It's also been updated to correct the name of SailGP's Women's Performance Camp.",CNBC,20/03/2025,"[""As women's sports surge in popularity, professional leagues are increasingly touting the value of female athletes."", 'New professional leagues like SailGP are launching with the advantage of building from the ground up, with gender diversity as part of their DNA.Noncontact and noncollision sports are leading the way.', ""Formula 1's F1 Academy has created a pipeline for women into motorsports, with a goal of increasing female participation and representation on and off the racetrack."", ""At the same time, it's drawing a more diverse fanbase."", 'Roughly 41% of F1 fans now are female, with women aged 16 to 24 years old making up the fastest-growing fan group, according to Nielsen Sports.', ""Professional male and female athletes are already competing alongside and against each other in the United Pickleball Association's unified league, the Global Mixed Gender Basketball league and in SailGP, the international sailing league co-founded by Oracle founder Larry Ellison and champion yachtsman Russell Coutts."", 'Founded in 2018, the upstart sailing league involves 12 international teams racing on high-speed, 50-foot Catamarans, known as F50s.', 'At speeds of more than 60 mph, SailGP is gaining a reputation as a sort of Formula 1 on the water.', '""The whole goal is to train athletes to be capable of racing on an F50, which is one of the more complex boats in the world – maybe the most difficult boat to race in the world right now,"" said Coutts, who is also SailGP\'s chief executive officer.', ""The league didn't set out with gender equity goals in mind, Coutts said, but simply sought to create the most compelling competition."", '""We believe that male and female athletes can compete at the top of our sport against each other and with each other, so when we we saw that there was a difference in participation levels – and didn\'t really see any logical reason for that – we took some steps to address that and we\'ll take further steps in the future,"" said Coutts.', 'To bridge the experience gap most female sailors face, SailGP created programs to draw and train talent.', ""In December, its Women's Performance Camp in Dubai, United Arab Emirates, marked its largest on-the-water women's athlete training camp to date."", 'The league also requires each team to have at least one female athlete onboard during races and has set targets to have at least two female athletes per race crew in key positions within the next five years.', 'Those key positions are the driver, who steers the boat; the strategist, who advises on tactics; the wing trimmer, who adjusts the 85- to 90-foot carbon-fiber wing sail; and the flight controller, who dictates how high or low the boat flies over the water.', 'The next SailGP races take place Saturday and Sunday in San Francisco, the second in back-to-back U.S. weekend races.', 'SailGP has embedded inclusivity and sustainability into the competition via an Impact League that runs parallel to the on-the-water championship.', 'Teams earn points for taking action to make sailing more accessible and to protect the environment in order to reach the podium.', 'Winning teams earn cash prize donations to their partners.', 'The Canadian team is in the lead in the Impact League thanks to its work to offer training opportunities, sailing camps and demo days to introduce foiling to new Canadian athletes.', '""That changes the mindframe of very competitive people to care, and to compete, in a world of impact and sustainability as well,"" said SailGP Chief Marketing Officer Leah Davis. ""', ""When you challenge the world's most competitive people to be good at something else, they will turn their eyes to that pretty quickly, and in a pretty impactful way."", '""Off the water, 43% of SailGP\'s C-suite is female, up from just 14% in 2021.', ""For comparison, 29% of C-suite roles at Fortune 500 companies are held by women, according to McKinsey's Women in the Workplace 2024 report."", ""The league last year introduced Apex Group's accelerator program, aimed at increasing female representation at senior levels of the company."", 'It has also introduced initiatives to train more women on the operations, technology and boat-building side of the business.', 'For example, SailGP Technologies based in Southampton, U.K., offers an apprenticeship training scheme – eight participants join the program each year, four male and four female.', 'Today, 33% of directors at SailGP and 52% of heads of departments are female.', ""The overall business strategy is helping to grow the league's appeal to a new set of fans."", ""For the first time in its history, more than half of the ticket holders in attendance at last season's New Zealand Championships in March were female, a trend that has held steady this season."", '""This demographic has been underserved in sports,"" said SailGP Chief Purpose Officer Fiona Morgan. ""', ""A huge part of our headroom in fans is young fans – and actually they're female fans – who probably didn't think about sailing, but they like extreme sports or sustainability, or they like sports that have gender equity at the heart."", '""In June, Tommy Hilfiger was announced as the United States SailGP team\'s official lifestyle apparel partner, joining brands such as Red Bull, Emirates, Mubadala, Rockwool and Deutsche Bank in sponsoring individual teams.', 'In November, SailGP announced it had signed Rolex as its first title sponsor.', '""I don\'t think many brands nowadays will go into sponsorship that doesn\'t have diversity or equity at some point in it,"" said Morgan. ""', 'Their consumers and their investors will ensure they do that.', '""In September, the league achieved a major milestone, announcing its first female driver.', 'Two-time Olympic sailing champion Martine Grael joined for the 2024-25 season to skipper the new Mubadala Brazil SailGP Team, making history and immediately climbing the leaderboard.', 'After championships in Dubai, Auckland, New Zealand, Sydney and Los Angeles, teams from the U.K., Australia and New Zealand are leading the league.', 'Grael has steered her team ahead of the Germany SailGP team, and is proving competitive against the more experienced United States team.', '""In the past — and still nowadays — you see a lot of people say, \'Girls shouldn\'t do that,\'"" Grael said.', 'Her response is to call out that old way of thinking: ""Shouldn\'t do what?""Grael credits much of her early success to familiarizing herself with the boats using SailGP\'s simulator, developing muscle memory before even getting on the water.', ""Unlike traditional boats built with male sailors in mind, SailGP's modern foiling boats open opportunities for women in roles that do not require as much physical strength, she said."", 'Knowing when to push a button and developing a good feel for the boat are equally important to the more physical functions, said Grael.', '""Some guys have failed to understand that a girl is very much capable of doing the same role they\'re doing,"" she said.', ""Grael is among a number of top female athletes competing in key positions in SailGP – including Emirates Great Britain Team's strategist Hannah Mills and the U.S. team's Anna Weis – and says though women are still in the minority, things are changing."", ""Together with women competing in marquee races – like Switzerland's Justine Mettraux, who took eighth place in the Vendée Globe single-handed, nonstop, nonassisted round-the-world race this year – they are carving a path for a new cohort of women to gain opportunities and make their mark."", '""We have been less limited — I grew up never being told I shouldn\'t do something,"" said Grael. ""', ""There's a big generation of others looking at us, and they're going to come out strong."", '""Correction: This story has been updated to correct that SailGP teams from the U.K., Australia and New Zealand are leading the league.', ""It's also been updated to correct the name of SailGP's Women's Performance Camp.""]",0.3284540759668937,"When you challenge the world's most competitive people to be good at something else, they will turn their eyes to that pretty quickly, and in a pretty impactful way.","Those key positions are the driver, who steers the boat; the strategist, who advises on tactics; the wing trimmer, who adjusts the 85- to 90-foot carbon-fiber wing sail; and the flight controller, who dictates how high or low the boat flies over the water.",0.8142258775861639,"""Off the water, 43% of SailGP's C-suite is female, up from just 14% in 2021.","""This demographic has been underserved in sports,"" said SailGP Chief Purpose Officer Fiona Morgan. """,2025-03-24
+DC housing market shows signs of cracks amid mass federal layoffs,https://www.cnbc.com/2025/03/13/washington-dc-housing-market-shows-cracks-amid-federal-layoffs.html,2025-03-13T20:11:17+0000,"The supply of homes for sale across the nation always rises ahead of the busy spring market, but the Washington, D.C., metropolitan area is seeing an outsized increase, according to Realtor.com.Inventory gains in the region, which includes the District as well as Maryland and Virginia suburbs, began to accelerate in January and February, up 35.9% and 41% year over year, respectively. Inventory in the area from June to December had already been 20% to 30% higher than the previous year, but the increases accelerated even further in recent months.As of last week, active listings were up 56% compared with the same week one year ago.""The adjustment period following federal layoffs and funding cuts has likely put some Washington D.C. home searches on hold, both for those whose jobs have been directly impacted and those who may be concerned about what's ahead, and the data hints at these challenges,"" wrote Danielle Hale, chief economist for Realtor.com, in a release.For comparison, active listings nationally were up 28% last week compared with the same week in 2024, according to Realtor.com, coinciding with a decline in mortgage rates. The average rate on the popular 30-year fixed loan was around 7.25% in mid-January but fell steadily to 6.82% now, according to Mortgage News Daily.The inventory gains in the D.C. area are not all due to people putting their homes on the market. New listings rose, but by much less than overall inventory, so the increase in overall supply is a combination of new listings and slowing buyer activity.New listings were 24% higher year over year last week, contributing to the increase in for-sale inventory and dropping median days on market, Realtor.com found. New listings year to date are 11.9% above the year-ago level, but still 12.8% below where they were in 2022, according to Hale.There also may be an outsized bump in inventory due to newly built condominiums and townhomes coming on the market now. Construction in the D.C. area has been very active over the past few years. The share of new construction listings is tilted much more toward condos than it was five years ago.As for prices, the median list price in the D.C. metro area was down 1.6% year over year last week. For context, in the fourth quarter of last year, that median list price was down 1.5% annually.The median list price nationally, as of last week, was down 0.2%, though it is heavily skewed by the type of home for sale. Controlling for the size of home, the median list price per square foot increased 1.2% annually, which means there are more smaller or lower-end homes on the market compared to last year. ""While D.C. has the largest share of federal workers in the country, other highly federally employed markets could see similar shifts in the coming weeks or months,"" said Hale. ""While I expect many households will choose to stay in the area and pivot to find new job opportunities, some will likely choose to leave and retire or find a job elsewhere.""",CNBC,13/03/2025,"['The supply of homes for sale across the nation always rises ahead of the busy spring market, but the Washington, D.C., metropolitan area is seeing an outsized increase, according to Realtor.com.', 'Inventory gains in the region, which includes the District as well as Maryland and Virginia suburbs, began to accelerate in January and February, up 35.9% and 41% year over year, respectively.', 'Inventory in the area from June to December had already been 20% to 30% higher than the previous year, but the increases accelerated even further in recent months.', 'As of last week, active listings were up 56% compared with the same week one year ago.', '""The adjustment period following federal layoffs and funding cuts has likely put some Washington D.C. home searches on hold, both for those whose jobs have been directly impacted and those who may be concerned about what\'s ahead, and the data hints at these challenges,"" wrote Danielle Hale, chief economist for Realtor.com, in a release.', 'For comparison, active listings nationally were up 28% last week compared with the same week in 2024, according to Realtor.com, coinciding with a decline in mortgage rates.', 'The average rate on the popular 30-year fixed loan was around 7.25% in mid-January but fell steadily to 6.82% now, according to Mortgage News Daily.', 'The inventory gains in the D.C. area are not all due to people putting their homes on the market.', 'New listings rose, but by much less than overall inventory, so the increase in overall supply is a combination of new listings and slowing buyer activity.', 'New listings were 24% higher year over year last week, contributing to the increase in for-sale inventory and dropping median days on market, Realtor.com found.', 'New listings year to date are 11.9% above the year-ago level, but still 12.8% below where they were in 2022, according to Hale.', 'There also may be an outsized bump in inventory due to newly built condominiums and townhomes coming on the market now.', 'Construction in the D.C. area has been very active over the past few years.', 'The share of new construction listings is tilted much more toward condos than it was five years ago.', 'As for prices, the median list price in the D.C. metro area was down 1.6% year over year last week.', 'For context, in the fourth quarter of last year, that median list price was down 1.5% annually.', 'The median list price nationally, as of last week, was down 0.2%, though it is heavily skewed by the type of home for sale.', 'Controlling for the size of home, the median list price per square foot increased 1.2% annually, which means there are more smaller or lower-end homes on the market compared to last year.', '""While D.C. has the largest share of federal workers in the country, other highly federally employed markets could see similar shifts in the coming weeks or months,"" said Hale. ""', 'While I expect many households will choose to stay in the area and pivot to find new job opportunities, some will likely choose to leave and retire or find a job elsewhere.""']",0.2219384292513283,"Inventory gains in the region, which includes the District as well as Maryland and Virginia suburbs, began to accelerate in January and February, up 35.9% and 41% year over year, respectively.","""The adjustment period following federal layoffs and funding cuts has likely put some Washington D.C. home searches on hold, both for those whose jobs have been directly impacted and those who may be concerned about what's ahead, and the data hints at these challenges,"" wrote Danielle Hale, chief economist for Realtor.com, in a release.",0.2502719724879545,"For comparison, active listings nationally were up 28% last week compared with the same week in 2024, according to Realtor.com, coinciding with a decline in mortgage rates.","The average rate on the popular 30-year fixed loan was around 7.25% in mid-January but fell steadily to 6.82% now, according to Mortgage News Daily.",2025-03-24
+"Nike expects sales will plunge in current quarter as it faces tariffs, sliding consumer confidence",https://www.cnbc.com/2025/03/20/nike-nke-q3-2025-earnings.html,2025-03-21T14:12:10+0000,"In this articleNike on Thursday warned that sales will drop by a double digit percentage in its current quarter as the sneaker giant contends with new tariffs, sliding consumer confidence and a slower than expected turnaround.In a conference call with analysts, finance chief Matt Friend said Nike expects its sales decline in the fiscal fourth quarter, which is set to end in May, to be at the ""low end"" of the ""mid-teens range."" It also anticipates its gross margin will fall between 4 and 5 percentage points as it ramps up efforts to liquidate excess inventory and stale styles that are no longer resonating with consumers — a process it expects to continue into fiscal 2026.""We believe that the fourth quarter will reflect the largest impact from our ... actions, and that the headwinds to revenue and gross margin will begin to moderate from there,"" said Friend. ""We are also navigating through several external factors that create uncertainty in the current operating environment, including geopolitical dynamics, new tariffs, volatile foreign exchange rates and tax regulations, as well as the impact of this uncertainty and other macro factors on consumer confidence.""The guidance is far worse than analysts had expected. Consensus estimates from LSEG show Wall Street had expected sales to be down 11.4% in the current quarter.Shares fell more than 4% in extended trading and are down more than 5% year to date, as of Thursday's close.Beyond guidance, Nike beat Wall Street's expectations in its fiscal third quarter.Here's how the company performed during the quarter, compared with estimates from analysts polled by LSEG:The company's reported net income for the three-month period that ended Feb. 28 was $794 million, or 54 cents per share, compared with $1.17 billion, or 77 cents per share, a year earlier.Sales dropped to $11.27 billion, down about 9% from $12.4 billion a year earlier. Like other retailers, Nike saw strong demand in December followed by ""double digit"" declines in January and February. While Nike delivered a strong earnings beat, expectations were low headed into the release and profits fell 32% from the year-ago period.During the quarter, Nike's gross margin fell by 3.3 percentage points to 41.5%, lower than expectations of 41.8%, according to StreetAccount. That's largely because of the costs associated with Nike's efforts to clear out old inventory in favor of new, innovative styles. In a press release, the company attributed its drop in gross margin to ""higher discounts, higher inventory obsolescence reserves, higher product costs and changes in channel mix.""Meanwhile, sales were down 9%, driven by weakness in China. During the quarter, sales fell 17% in the key region to $1.73 billion, falling short of expectations of $1.84 billion, according to StreetAccount. ""I spent some time over there in December. I hadn't been over there in a while. The competition is a bit more aggressive than what I remembered,"" CEO Elliott Hill, who left Nike in 2020 and returned last year, told analysts. ""So we've just got to accelerate our pace.""Thursday's release comes about five months into Hill's tenure as CEO and his efforts to turn around the business and get it back to growth. He has focused on winning back wholesale partners, reigniting innovation and wooing back athletes that have fled to new competitors, but the work has not yet yielded results.""I'll start by saying I'm proud of the progress we made against the key actions we committed to 90 days ago. While we met the expectations we set, we're not satisfied with our overall results,"" Hill told analysts. ""We can and will be better.""During the quarter, sales on Nike's direct channels dropped 12% to $4.7 billion. Wholesale revenue fell 7% to $6.2 billion.Plus, since Hill took over, the company is now contending with a new set of dynamics that could make its comeback even harder to execute.In the three months since Nike last reported earnings, President Donald Trump has put a new 20% tariff on goods imported from China, consumer sentiment has fallen, and retail sales in both January and February were weaker than expected.Out of the hundreds of suppliers and manufacturers that Nike works with, about 24% of them are located in China, according to a manufacturing disclosure published in January. If the retailer doesn't raise prices to offset tariffs and can't push the cost entirely on to suppliers, Nike's margins are expected to take a hit from the new duties. On Thursday's call, Nike didn't say whether it would raise prices or how exactly the new duties would affect margins.Further, when consumers aren't feeling confident and cutting back on spending, discretionary products like new clothes and shoes are one of the first things they cut out in favor of necessities. Over the last few years, the overall sneaker and apparel markets have been slow because consumers have cut back on clothes and shoes. But up until recently, strong companies were still performing well and taking market share from weaker competitors.However, that trend began to shift over the last few weeks when even the strongest of companies started to sound the alarm about soft consumer spending when they reported first-quarter earnings, raising questions about the health of the economy.During the quarter, sales in North America — Nike's largest market — fell 4% to $4.86 billion. Still, revenue in the region came in better than the $4.53 billion analysts had expected, according to StreetAccount.Nike is widely expected to reclaim the market share it lost and reset its business, and some insiders say the company's problems have been overblown. Even so, the tariffs and economic fears could mean that the retailer's turnaround could take longer, and be more difficult, than expected.What's key to Nike's turnaround plan is its ability to reignite innovation and create the type of industry-leading shoes and apparel that have long made it the market leader. During a call with analysts, Hill said early releases for the company's new Pegasus Premium ""nearly sold out"" across North America and will scale through fall 2025. Its Romero 18, created for the everyday runner, has seen ""outstanding"" results, and Nike plans to double distribution by mid-April.""It will take time to reach the volume to replace the handful of classic franchises we over-indexed on, but our approach is simple,"" said Hill. ""Help consumers fall in love with something new from Nike, and that something is not replacing one icon for another.""Nike has already made strides in its efforts to grow its female consumer base, another key component to boosting revenue and apparel sales. Last month, it announced it was teaming up with Kim Kardashian's intimates brand Skims to create a new product line dubbed NikeSKIMS that will include apparel, footwear and accessories. The buzzy partnership is expected to give Nike improved inroads with women and allow it to better compete with Lululemon, Alo Yoga and Vuori, which cater more to women than Nike currently does.Further, Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades. The campaign showed that reaching female athletes and capturing the buzz around women's sports will be a center point of Hill's strategy.If Nike can continue to show positive signs from new product launches and partnerships, the rest of its headwinds might just be drowned out as noise.",CNBC,21/03/2025,"['In this articleNike on Thursday warned that sales will drop by a double digit percentage in its current quarter as the sneaker giant contends with new tariffs, sliding consumer confidence and a slower than expected turnaround.', 'In a conference call with analysts, finance chief Matt Friend said Nike expects its sales decline in the fiscal fourth quarter, which is set to end in May, to be at the ""low end"" of the ""mid-teens range.""', 'It also anticipates its gross margin will fall between 4 and 5 percentage points as it ramps up efforts to liquidate excess inventory and stale styles that are no longer resonating with consumers — a process it expects to continue into fiscal 2026.""We believe that the fourth quarter will reflect the largest impact from our ... actions, and that the headwinds to revenue and gross margin will begin to moderate from there,"" said Friend. ""', 'We are also navigating through several external factors that create uncertainty in the current operating environment, including geopolitical dynamics, new tariffs, volatile foreign exchange rates and tax regulations, as well as the impact of this uncertainty and other macro factors on consumer confidence.', '""The guidance is far worse than analysts had expected.', 'Consensus estimates from LSEG show Wall Street had expected sales to be down 11.4% in the current quarter.', ""Shares fell more than 4% in extended trading and are down more than 5% year to date, as of Thursday's close."", ""Beyond guidance, Nike beat Wall Street's expectations in its fiscal third quarter."", ""Here's how the company performed during the quarter, compared with estimates from analysts polled by LSEG:The company's reported net income for the three-month period that ended Feb. 28 was $794 million, or 54 cents per share, compared with $1.17 billion, or 77 cents per share, a year earlier."", 'Sales dropped to $11.27 billion, down about 9% from $12.4 billion a year earlier.', 'Like other retailers, Nike saw strong demand in December followed by ""double digit"" declines in January and February.', 'While Nike delivered a strong earnings beat, expectations were low headed into the release and profits fell 32% from the year-ago period.', ""During the quarter, Nike's gross margin fell by 3.3 percentage points to 41.5%, lower than expectations of 41.8%, according to StreetAccount."", ""That's largely because of the costs associated with Nike's efforts to clear out old inventory in favor of new, innovative styles."", 'In a press release, the company attributed its drop in gross margin to ""higher discounts, higher inventory obsolescence reserves, higher product costs and changes in channel mix.', '""Meanwhile, sales were down 9%, driven by weakness in China.', 'During the quarter, sales fell 17% in the key region to $1.73 billion, falling short of expectations of $1.84 billion, according to StreetAccount.', '""I spent some time over there in December.', ""I hadn't been over there in a while."", 'The competition is a bit more aggressive than what I remembered,"" CEO Elliott Hill, who left Nike in 2020 and returned last year, told analysts. ""', ""So we've just got to accelerate our pace."", '""Thursday\'s release comes about five months into Hill\'s tenure as CEO and his efforts to turn around the business and get it back to growth.', 'He has focused on winning back wholesale partners, reigniting innovation and wooing back athletes that have fled to new competitors, but the work has not yet yielded results.', '""I\'ll start by saying I\'m proud of the progress we made against the key actions we committed to 90 days ago.', 'While we met the expectations we set, we\'re not satisfied with our overall results,"" Hill told analysts. ""', 'We can and will be better.', '""During the quarter, sales on Nike\'s direct channels dropped 12% to $4.7 billion.', 'Wholesale revenue fell 7% to $6.2 billion.', 'Plus, since Hill took over, the company is now contending with a new set of dynamics that could make its comeback even harder to execute.', 'In the three months since Nike last reported earnings, President Donald Trump has put a new 20% tariff on goods imported from China, consumer sentiment has fallen, and retail sales in both January and February were weaker than expected.', 'Out of the hundreds of suppliers and manufacturers that Nike works with, about 24% of them are located in China, according to a manufacturing disclosure published in January.', ""If the retailer doesn't raise prices to offset tariffs and can't push the cost entirely on to suppliers, Nike's margins are expected to take a hit from the new duties."", ""On Thursday's call, Nike didn't say whether it would raise prices or how exactly the new duties would affect margins."", ""Further, when consumers aren't feeling confident and cutting back on spending, discretionary products like new clothes and shoes are one of the first things they cut out in favor of necessities."", 'Over the last few years, the overall sneaker and apparel markets have been slow because consumers have cut back on clothes and shoes.', 'But up until recently, strong companies were still performing well and taking market share from weaker competitors.', 'However, that trend began to shift over the last few weeks when even the strongest of companies started to sound the alarm about soft consumer spending when they reported first-quarter earnings, raising questions about the health of the economy.', ""During the quarter, sales in North America — Nike's largest market — fell 4% to $4.86 billion."", 'Still, revenue in the region came in better than the $4.53 billion analysts had expected, according to StreetAccount.', ""Nike is widely expected to reclaim the market share it lost and reset its business, and some insiders say the company's problems have been overblown."", ""Even so, the tariffs and economic fears could mean that the retailer's turnaround could take longer, and be more difficult, than expected."", ""What's key to Nike's turnaround plan is its ability to reignite innovation and create the type of industry-leading shoes and apparel that have long made it the market leader."", 'During a call with analysts, Hill said early releases for the company\'s new Pegasus Premium ""nearly sold out"" across North America and will scale through fall 2025.', 'Its Romero 18, created for the everyday runner, has seen ""outstanding"" results, and Nike plans to double distribution by mid-April.', '""It will take time to reach the volume to replace the handful of classic franchises we over-indexed on, but our approach is simple,"" said Hill. ""', 'Help consumers fall in love with something new from Nike, and that something is not replacing one icon for another.', '""Nike has already made strides in its efforts to grow its female consumer base, another key component to boosting revenue and apparel sales.', ""Last month, it announced it was teaming up with Kim Kardashian's intimates brand Skims to create a new product line dubbed NikeSKIMS that will include apparel, footwear and accessories."", 'The buzzy partnership is expected to give Nike improved inroads with women and allow it to better compete with Lululemon, Alo Yoga and Vuori, which cater more to women than Nike currently does.', 'Further, Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades.', ""The campaign showed that reaching female athletes and capturing the buzz around women's sports will be a center point of Hill's strategy."", 'If Nike can continue to show positive signs from new product launches and partnerships, the rest of its headwinds might just be drowned out as noise.']",0.1362983811031821,"That's largely because of the costs associated with Nike's efforts to clear out old inventory in favor of new, innovative styles.","Even so, the tariffs and economic fears could mean that the retailer's turnaround could take longer, and be more difficult, than expected.",-0.1913316814522994,"Still, revenue in the region came in better than the $4.53 billion analysts had expected, according to StreetAccount.","While Nike delivered a strong earnings beat, expectations were low headed into the release and profits fell 32% from the year-ago period.",2025-03-24
+Auto suppliers face more dire circumstances than automakers amid Trump tariffs,https://www.cnbc.com/2025/03/19/auto-suppliers-automakers-trump-tariffs.html,2025-03-19T19:14:58+0000,"DETROIT — President Donald Trump's proposed tariffs on goods from Mexico and Canada would hit automotive suppliers harder than automakers, but their problems could quickly have ripple effects on the broader industry. Most vehicles produced in North America meet the requirements for free trade under the United States-Mexico-Canada Agreement, but far fewer individual parts meet the stringent standards under the 2020 North American trade deal that was negotiated by Trump, according to federal trade reporting data.USMCA compliance is important for automakers and suppliers. Products that meet the standards, which most notably include rules about where a part or material can be produced, are currently able to avoid 25% North American tariffs until the expanded levies are set to take effect April 2.Companies are lobbying the Trump administration to continue allowing parts and vehicles that meet USMCA regulations to remain tariff-free. Such tariffs are added challenges for a less robust post-Covid automotive supply chain that continues to face high interest rates, labor shortages and lower profits. There are far more suppliers than automakers, many of which may only produce a few parts that could cause production disruptions if they are forced to close due to higher costs.Shares of many larger publicly traded suppliers, such as American Axle & Manufacturing Holdings, Magna International and Adient, are down double digits this year amid the tariffs. Others such as Aptiv and Lear Corp. are roughly flat.""There's clearly not the profitability in the supply chain to absorb the tariffs,"" Collin Shaw, president of the MEMA Original Equipment Suppliers association, told CNBC. ""Suppliers are more at risk, seeing that a lower percentage of suppliers aren't USMCA compliant.""Roughly 63% of motor vehicle parts imported from Mexico into the United States in 2024 were complaint with USMCA standards. That compares with 92.1% of motor vehicles.For Canada, 74.6% of motor vehicle parts and 96.9% of vehicles were imported tariff-free under USMCA in 2024. That includes 170 Canadian parts suppliers that operate facilities in 26 states, according to the Automotive Parts Manufacturers' Association in Canada.The vehicle and parts compliancy comes from publicly available trade data from the U.S. International Trade Commission based on the value of the imported goods for consumptiom. A small minority of the non-compliant goods that didn't claim a trade program such as USMCA may have been imported tariff-free if they were being sold to the government or for other reasons. To be USMCA compliant, 75% of vehicle content must be sourced from the U.S., Canada or Mexico, with additional requirements, such as that 40% of core parts and 70% of steel and aluminum must be sourced regionally.""I think that if we get auto tariffs that shut down the industry, many interests in our business are going to end up in court looking for an emergency state,"" said Flavio Volpe, an advocate for Canada's auto industry who leads the APMA. ""Everybody's nervous.""Shaw, whose organization represents more than 800 auto suppliers in North America, said the supply chain is ""resilient"" but there's also a ""fragility"" that makes major shifts in policy difficult to address quickly.""What I'd say is very difficult, is the whipsaw back and forth,"" Shaw said. ""The notion that we can very easily bring these things back — it can be done. It takes time though.""In general, Shaw said it can take years to move a plant and build a new one. Permitting for a new plant can take six to 12 months. It can take another 12 months to 18 months, if not more, to build the facility, followed by another year or more in tooling and ramping up production.The parts that are produced for a vehicle impact whether an entire car or truck is compliant, but many major parts such as engines and transmissions are assembled locally, assisting compliancy for the finished product. The same cannot be said for parts such as wire harnesses, batteries and other smaller components.For example, BMW said its vehicles being produced in Mexico are not USMCA compliant, largely because the engines for the vehicles are imported from Europe. Engines and transmissions tend to cross borders less often than a part that would go into one of those main components.""This a complicated agreement,"" said Kristin Dziczek, automotive policy advisor for the Federal Reserve Bank of Chicago, during its annual auto conference last month in Detroit. ""So there are different categories here of components and parts and vehicles and different thresholds of what they had to phase up to for having USMCA sourcing in order to get a zero tariff for trade within the U.S.""Since Trump's USMCA went into effect and replaced the North American Free Trade Agreement in 2020, compliancy for both motor vehicles and parts from Mexico has notably declined, meaning more tariffs are likely being paid. Duty-free vehicles are down from 99.7% in 2019 to 92.1% in 2024, while vehicle parts are down from about 75% in 2019 to 62.5% in 2024. Canada's free trade-compliant motor vehicle parts have decreased from 83.1% in 2019 to about 75% in 2024. Tariff-free vehicle imports from Canada are slightly down from 98.8% in 2019 to about 97% last year.Auto suppliers have been adamant that they will not or cannot taken on the 25% increased costs on non-compliant USMCA parts — tariffs that could be in addition to levies on steel and aluminum and other materials.Swamy Kotagiri is CEO of Canada-based Magna, a major global supplier for automakers that also does some contract manufacturing for automakers. He described the proposed tariffs as being ""absolutely disruptive to the industry.""""This is the industry issue. I believe very strongly that it cannot be addressed by any one constituent,"" Kotagiri, an auto industry veteran, told CNBC during an interview last month. ""Given the magnitude that is being discussed and talked about, it absolutely not possible for the suppliers to take on this.""A survey earlier this month of 139 suppliers conducted by MEMA found the majorities of parts makers were affected by the steel and aluminum tariffs, with 97% expressing concerns about tariff-induced financial distress at smaller, ""subtier"" suppliers.Such suppliers typically make smaller parts but can easily cause disruptions in the supply chain if their production is impacted. The importance of such suppliers was prominent during the coronavirus pandemic, when global supply chains were routinely being upended due to parts disruptions.Executives with France-based auto supplier Forvia earlier this month said the company and its customers, including automakers, have been planning different contingency plans for the tariffs.""The whole supply chain cannot swallow 25%,"" Forvia CEO Martin Fischer said during a media event. ""Cars will get more expensive for consumers if tariffs continue for a long time. The industry cannot ship at losses and swallow 25%.""",CNBC,19/03/2025,"[""DETROIT —President Donald Trump's proposed tariffson goods from Mexico and Canadawould hit automotive suppliers harder than automakers, but their problems could quickly have ripple effects on the broader industry."", 'Most vehicles produced in North America meet the requirements for free trade under theUnited States-Mexico-Canada Agreement,but far fewer individual parts meet the stringent standards under the 2020 North American trade deal that was negotiated by Trump, according to federal trade reporting data.', 'USMCA compliance is important for automakers and suppliers.', 'Products that meet the standards, which most notably include rules about where a part or material can be produced, are currently able to avoid 25% North American tariffs untiltheexpanded levies are set to take effect April 2.Companies are lobbying the Trump administration to continue allowing parts and vehicles that meet USMCA regulations to remain tariff-free.', 'Such tariffs are added challenges for a less robust post-Covid automotive supply chain that continues to face high interest rates, labor shortages and lower profits.', 'There are far more suppliers than automakers, many of which may only produce a few parts that could cause production disruptions if they are forced to close due to higher costs.', 'Shares of many larger publicly traded suppliers, such as American Axle & Manufacturing Holdings, Magna International and Adient, are down double digits this year amid the tariffs.', 'Others such as Aptiv and Lear Corp. are roughly flat.', '""There\'s clearly not the profitability in the supply chain to absorb the tariffs,"" Collin Shaw, president of the MEMA Original Equipment Suppliers association, told CNBC. ""', ""Suppliers are more at risk, seeing that a lower percentage of suppliers aren't USMCA compliant."", '""Roughly 63% of motor vehicle parts imported from Mexico into the United States in 2024 were complaint with USMCA standards.', 'That compares with 92.1% of motor vehicles.', ""For Canada, 74.6% of motor vehicle parts and 96.9% of vehicles were imported tariff-free under USMCA in 2024.That includes 170 Canadian parts suppliers that operate facilities in 26 states, according to theAutomotive Parts Manufacturers' Associationin Canada."", 'The vehicle and parts compliancy comes from publicly available trade data from the U.S. International Trade Commission based on the value of the imported goods for consumptiom.', ""A small minority of the non-compliant goods that didn't claim a trade program such as USMCA may have been imported tariff-free if they were being sold to the government or for other reasons."", 'To be USMCA compliant, 75% of vehicle content must be sourced from the U.S., Canada or Mexico, with additional requirements, such as that 40% of core parts and 70% of steel and aluminum must be sourced regionally.', '""I think that if we get auto tariffs that shut down the industry, many interests in our business are going to end up in court looking for an emergency state,"" said Flavio Volpe, an advocate for Canada\'s auto industry who leads the APMA. ""', ""Everybody's nervous."", '""Shaw, whose organization represents more than 800 auto suppliers in North America, said the supply chain is ""resilient"" but there\'s also a ""fragility"" that makes major shifts in policy difficult to address quickly.', '""What I\'d say is very difficult, is the whipsaw back and forth,"" Shaw said. ""', 'The notion that we can very easily bring these things back — it can be done.', 'It takes time though.', '""In general, Shaw said it can take years to move a plant and build a new one.', 'Permitting for a new plant can take six to 12 months.', 'It can take another 12 months to 18 months, if not more, to build the facility, followed by another year or more in tooling and ramping up production.', 'The parts that are produced for a vehicle impact whether an entire car or truck is compliant, but many major parts such as engines and transmissions are assembled locally, assisting compliancy for the finished product.', 'The same cannot be said for parts such as wire harnesses, batteries and other smaller components.', 'For example, BMW said its vehicles being produced in Mexico are not USMCA compliant, largely because the engines for the vehicles are imported from Europe.', 'Engines and transmissions tend to cross borders less often than a part that would go into one of those main components.', '""This a complicated agreement,"" said Kristin Dziczek, automotive policy advisor for the Federal Reserve Bank of Chicago, during its annual auto conference last month in Detroit. ""', 'So there are different categories here of components and parts and vehicles and different thresholds of what they had to phase up to for having USMCA sourcing in order to get a zero tariff for trade within the U.S.""Since Trump\'s USMCA went into effect and replaced the North American Free Trade Agreement in 2020, compliancy for both motor vehicles and parts from Mexico has notably declined, meaning more tariffs are likely being paid.', ""Duty-free vehicles are down from 99.7% in 2019 to 92.1% in 2024, while vehicle parts are down from about 75% in 2019 to 62.5% in 2024.Canada's free trade-compliant motor vehicleparts havedecreased from 83.1% in 2019 to about 75% in 2024."", 'Tariff-free vehicle importsfrom Canadaare slightly down from 98.8% in 2019 to about 97% last year.', 'Auto suppliers have been adamant that they will not or cannot taken on the 25% increased costs on non-compliant USMCA parts — tariffs that could be in addition to levies on steel and aluminum and other materials.', 'Swamy Kotagiri is CEO of Canada-based Magna, a major global supplier for automakers that also does some contract manufacturing for automakers.', 'He described the proposed tariffs as being ""absolutely disruptive to the industry.', '""""This is the industry issue.', 'I believe very strongly that it cannot be addressed by any one constituent,"" Kotagiri, an auto industry veteran, told CNBC during an interview last month. ""', 'Given the magnitude that is being discussed and talked about, it absolutely not possible for the suppliers to take on this.', '""A survey earlier this month of 139 suppliers conducted by MEMA found the majorities of parts makers were affected by the steel and aluminum tariffs, with 97% expressing concerns about tariff-induced financial distress at smaller, ""subtier"" suppliers.', 'Such suppliers typically make smaller parts but can easily cause disruptions in the supply chain if their production is impacted.', 'The importance of such suppliers was prominent during the coronavirus pandemic, when global supply chains were routinely being upended due to parts disruptions.', 'Executives with France-based auto supplier Forvia earlier this month said the company and its customers, including automakers, have been planning different contingency plans for the tariffs.', '""The whole supply chain cannot swallow 25%,"" Forvia CEO Martin Fischer said during a media event. ""', 'Cars will get more expensive for consumers if tariffs continue for a long time.', 'The industry cannot ship at losses and swallow 25%.""']",0.0861533070293069,"Duty-free vehicles are down from 99.7% in 2019 to 92.1% in 2024, while vehicle parts are down from about 75% in 2019 to 62.5% in 2024.Canada's free trade-compliant motor vehicleparts havedecreased from 83.1% in 2019 to about 75% in 2024.","There are far more suppliers than automakers, many of which may only produce a few parts that could cause production disruptions if they are forced to close due to higher costs.",-0.7869567573070526,That compares with 92.1% of motor vehicles.,Tariff-free vehicle importsfrom Canadaare slightly down from 98.8% in 2019 to about 97% last year.,2025-03-24
+London’s Heathrow Airport resumes flights after major fire nearby shuts down travel,https://www.cnbc.com/2025/03/21/heathrow-airport-closes-friday-after-fire-causes-power-outage.html,2025-03-22T05:29:09+0000,"London's Heathrow Airport closed Friday after a fire at a nearby electrical substation caused a power outage, disrupting travel for tens of thousands of passengers planning to fly in or out of Europe's busiest airport.The first flight since the closure departed late Friday local time, and Heathrow posted on X that it hopes to run a ""full operation"" on Saturday.More than 800 flights were canceled in and out of the airport on Friday, according to flight-tracking site FlightAware, as of the most recent update, upending travel at the major hub and connecting airport.Airlines warned travelers that disruptions could continue into the weekend, and Heathrow posted that travelers shouldn't go to the airport unless advised to do so by their airline.London's Metropolitan Police said that while there was ""no indication of foul play,"" the counterterrorism division would now lead the investigation into the fire.""Given the location of the substation and the impact this incident has had on critical national infrastructure, the Met's Counter Terrorism Command is now leading enquiries,"" the force said in a post on X.""This is due to the specialist resources and capabilities within that command that can assist in progressing this investigation at pace to minimise disruption and identify the cause,"" it said.""Heathrow is experiencing a significant power outage across the airport. ... Whilst fire crews are responding to the incident, we do not have clarity on when power may be reliably restored,"" a Heathrow spokesperson said earlier Friday.More than 120 flights were already in the air when the closure was announced and were diverted or returned to their originating airports, according to Flightradar24. Nearly three-quarters of the flights scheduled to depart from Heathrow, or 500 flights, and half of the arrivals destined for the airport, 300 flights, were also scrubbed.Airlines around the world due to operate flights into and out of Heathrow told passengers to stay home.The fire and airport closure left thousands of travelers stranded. British Airways was the most affected airline, with over half of its Friday schedule canceled.The airline said it would offer ""flexible options"" for rebooking to passengers set to travel to or from Heathrow on Friday through the weekend, in an online post.""Our teams are currently working hard to review our long-haul schedule as well as the implications for our schedule tomorrow and beyond,"" it said in a statement.As the fire appears to be outside of the airlines' control, they may not be required to cover compensation, according to a note issued by Citi on Friday.American Airlines, a British Airways partner across the Atlantic, said almost 20 flights from Thursday were diverted or canceled and that it provided overnight hotels for affected customers. It canceled another close to 20 in or out of London on Friday, she said. The carrier planned to operate its full schedule to and from London on Saturday.European travel and leisure stocks fell on news of the airport closure.Ed Miliband, U.K. energy minister, described the fire as ""catastrophic,"" according to Reuters, adding that the airport's backup generator had been affected by the blaze.Speaking to ITV's ""Good Morning Britain,"" Miliband said the National Grid told him ""it's like a fire they've never, kind of, quite seen anything like the scale of what happened before,"" according to a post by the program on X.Miliband added that the National Grid was trying to use another backup system to restore power to the airport.Power cuts also affected about 16,000 homes around the airport. As of 8 a.m. GMT, electrical supply was restored to all but around 4,900, according to the U.K. energy company Scottish and Southern Electricity Networks.Heathrow Airport has an estimated 1,300 takeoffs and landings at the airport per day, according to its website. It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We've got to understand why this happened, and we've got to work out what the lessons are for the resilience of our infrastructure.""He said the National Grid is looking at whether there is ""sufficient resilience"" in place at the airport, given that the fire also affected a backup generator.""It makes Heathrow look quite vulnerable. And therefore, we've got to learn lessons … about not just Heathrow, but how we protect our major infrastructure,"" Miliband said.Willie Walsh, CEO of the International Air Transport Association, or IATA, an airline industry group, criticized Heathrow Airport for being ""totally dependent on a single power source without an alternative,"" in an online statement, describing it as a ""total planning failure"" by the airport.Walsh questioned who would cover the costs of the resulting travel disruptions.""We must find a fairer allocation of passenger care costs than airlines alone picking up the tab when infrastructure fails,"" he said. ""Until that happens, Heathrow has very little incentive to improve.""Anita Mendiratta, a travel and tourism advisor and founder of consultancy AM&A, described the implications of the fire and closure of the airport as ""very wide.""""What we also need to take into account is over and above passenger traffic, over 4,000 tons of cargo go through Heathrow every single day,"" she told CNBC's ""Squawk Box Europe.""More than 1.4 million tonnes of cargo flew in and out of Heathrow in 2023, according to a post on the airport's website, with 90% of goods transported in the hold of passenger aircraft.Airport officials said they will update travelers ""when more information on the resumption of operations is available.""Travelers can check Heathrow Airport's website or social media platforms, including X, for the latest information.",CNBC,22/03/2025,"[""London's Heathrow Airport closed Friday after a fire at a nearby electrical substation caused a power outage, disrupting travel for tens of thousands of passengers planning to fly in or out of Europe's busiest airport."", 'The first flight since the closure departed late Friday local time, and Heathrow posted on X that it hopes to run a ""full operation"" on Saturday.', 'More than 800 flights were canceled in and out of the airport on Friday, according to flight-tracking site FlightAware, as of the most recent update, upending travel at the major hub and connecting airport.', ""Airlines warned travelers that disruptions could continue into the weekend, and Heathrow posted that travelers shouldn't go to the airport unless advised to do so by their airline."", 'London\'s Metropolitan Police said that while there was ""no indication of foul play,"" the counterterrorism division would now lead the investigation into the fire.', '""Given the location of the substation and the impact this incident has had on critical national infrastructure, the Met\'s Counter Terrorism Command is now leading enquiries,"" the force said in a post on X.""This is due to the specialist resources and capabilities within that command that can assist in progressing this investigation at pace to minimise disruption and identify the cause,"" it said.', '""Heathrow is experiencing a significant power outage across the airport. ...', 'Whilst fire crews are responding to the incident, we do not have clarity on when power may be reliably restored,"" a Heathrow spokesperson said earlier Friday.', 'More than 120 flights were already in the air when the closure was announced and were divertedor returned to their originating airports, according to Flightradar24.', 'Nearly three-quarters of the flights scheduled to depart from Heathrow, or 500 flights, and half of the arrivals destined for the airport, 300 flights, were also scrubbed.', 'Airlines around the world due to operate flights into and out of Heathrow told passengers to stay home.', 'The fire and airport closure left thousands of travelers stranded.', 'British Airways was the most affected airline, with over half of its Friday schedule canceled.', 'The airline said it would offer ""flexible options"" for rebooking to passengers set to travel to or from Heathrow on Friday through the weekend, in an online post.', '""Our teams are currently working hard to review our long-haul schedule as well as the implications for our schedule tomorrow and beyond,"" it said in a statement.', ""As the fire appears to be outside of the airlines' control, they may not be required to cover compensation, according to a note issued by Citi on Friday."", 'American Airlines, a British Airways partner across the Atlantic, said almost 20 flights from Thursday were diverted or canceled and that it provided overnight hotels for affected customers.', 'It canceled another close to 20 in or out of London on Friday, she said.', 'The carrier planned to operate its full schedule to and from London on Saturday.', 'European travel and leisure stocks fell on news of the airport closure.', 'Ed Miliband, U.K. energy minister, described the fire as ""catastrophic,"" according to Reuters, adding that the airport\'s backup generator had been affected by the blaze.', 'Speaking to ITV\'s ""Good Morning Britain,"" Miliband said the National Grid told him ""it\'s like a fire they\'ve never, kind of, quite seen anything like the scale of what happened before,"" according to a post by the program on X.Miliband added that the National Grid was trying to use another backup system to restore power to the airport.', 'Power cuts also affected about 16,000 homes around the airport.', 'As of 8 a.m. GMT, electrical supply was restored to all but around 4,900, according to the U.K. energy company Scottish and Southern Electricity Networks.', 'Heathrow Airport has an estimated 1,300 takeoffs and landings at the airport per day, according to its website.', 'It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We\'ve got to understand why this happened, and we\'ve got to work out what the lessons are for the resilience of our infrastructure.', '""He said the National Grid is looking at whether there is ""sufficient resilience"" in place at the airport, given that the fire also affected a backup generator.', '""It makes Heathrow look quite vulnerable.', 'And therefore, we\'ve got to learn lessons … about not just Heathrow, but how we protect our major infrastructure,"" Miliband said.', 'Willie Walsh, CEO of the International Air Transport Association, or IATA, an airline industry group, criticized Heathrow Airport for being ""totally dependent on a single power source without an alternative,"" in an online statement, describing it as a ""total planning failure"" by the airport.', 'Walsh questioned who would cover the costs of the resulting travel disruptions.', '""We must find a fairer allocation of passenger care costs than airlines alone picking up the tab when infrastructure fails,"" he said. ""', 'Until that happens, Heathrow has very little incentive to improve.', '""Anita Mendiratta, a travel and tourism advisor and founder of consultancy AM&A, described the implications of the fire and closure of the airport as ""very wide.', '""""What we also need to take into account is over and above passenger traffic, over 4,000 tons of cargo go through Heathrow every single day,"" she told CNBC\'s ""Squawk Box Europe.', '""More than 1.4 million tonnes of cargo flew in and out of Heathrow in 2023, according to a post on the airport\'s website, with 90% of goods transported in the hold of passenger aircraft.', 'Airport officials said they will update travelers ""when more information on the resumption of operations is available.', '""Travelers can check Heathrow Airport\'s website or social media platforms, including X, for the latest information.']",-0.0754250057217165,"It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We've got to understand why this happened, and we've got to work out what the lessons are for the resilience of our infrastructure.","""Given the location of the substation and the impact this incident has had on critical national infrastructure, the Met's Counter Terrorism Command is now leading enquiries,"" the force said in a post on X.""This is due to the specialist resources and capabilities within that command that can assist in progressing this investigation at pace to minimise disruption and identify the cause,"" it said.",-0.4159791434512419,"It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We've got to understand why this happened, and we've got to work out what the lessons are for the resilience of our infrastructure.",European travel and leisure stocks fell on news of the airport closure.,2025-03-24
+"Spirit Airlines, fresh from bankruptcy, is ready to take on the new Southwest, CEO says",https://www.cnbc.com/2025/03/13/spirit-airlines-ceo-on-new-southwest.html,2025-03-13T19:21:22+0000,"In this articleSpirit Airlines is out of bankruptcy, hitting its target to emerge in the first quarter, after a crippling few years. CEO Ted Christie says the carrier is leaner and ready to take on competitors, including rival Southwest Airlines.Earlier this week, Southwest shocked customers by announcing it will start charging for checked bags for the first time in its half-century of flying, a huge strategy move for the largest domestic U.S. carrier. (There are some exceptions to Southwest's new bag rules, which take effect in late May.)""I think it's going to be painful for a little bit as they find their footing, and we're going to take advantage of that,"" Spirit's Christie said in an interview Thursday.Southwest had been a standout in the U.S. by offering all customers two free checked bags, a perk that has endured recessions, spikes in fuel prices and other crises while most rivals introduced bag fees and raised them every few years.Spirit Airlines, on the other hand, made a la carte pricing common in the U.S., with fees for seat assignments, checked bags and other add-ons. It's a strategy most large airlines, except for Southwest, have copied in one form or another.As Southwest starts charging for bags and introduces its first basic economy class, which doesn't include a seat assignment or allow free changes, Spirit could possibly win over customers, Christie said.Southwest said it would get rid of its single-class open seating model last year.""There at least was an audience of people who were intentionally selecting and flying Southwest because they felt that it was easy. They knew they were going to get two bags,"" Christie said. ""Now that that's no longer the case, it's easy to say that they're going to widen their aperture and they're now going to look around.""Spirit is far smaller than Southwest and even smaller than it was last year, but it competes with the airline in cities like Kansas City, Missouri; Nashville, Tennessee; Columbus, Ohio; and Milwaukee. If customers look on travel sites like Expedia, where Southwest is a new entrant, Spirit's tickets could be cheaper and appear higher in results, Christie said.Other airline executives have also said they expect to win over some Southwest customers.Delta Air Lines President Glen Hauenstein said at a JPMorgan industry conference Tuesday that there are consumers who choose Southwest based on its free bag perk ""and now those customers are up for grabs.""Spirit, for its part, has recently been offering more ticket bundles that include things like seat assignments and luggage.The carrier is now focused on returning to profitability. It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.Spirit has rejected multiple recent merger attempts by fellow budget carrier Frontier Airlines. Christie said Thursday that nothing is ""off the table"" and that a fifth-largest airline in the U.S. as a low-cost carrier makes sense, but that the airline is focused on stabilizing itself after bankruptcy.Through its restructuring process, which started in November, Spirit said it reduced its debt by about $795 million. The transaction converted debt into equity for major creditors. The carrier also received a $350 million equity infusion.Spirit plans to relist its shares on a stock exchange but hasn't set a date yet.",CNBC,13/03/2025,"['In this articleSpirit Airlines is out of bankruptcy, hitting its target to emerge in the first quarter, after a crippling few years.', 'CEO Ted Christie says the carrier is leaner and ready to take on competitors, including rival Southwest Airlines.', 'Earlier this week, Southwest shocked customers by announcing it will start charging for checked bags for the first time in its half-century of flying, a huge strategy move for the largest domestic U.S. carrier. (', 'There are some exceptions to Southwest\'s new bag rules, which take effect in late May.)""I think it\'s going to be painful for a little bit as they find their footing, and we\'re going to take advantage of that,"" Spirit\'s Christie said in an interview Thursday.', 'Southwest had been a standout in the U.S. by offering all customers two free checked bags, a perk that has endured recessions, spikes in fuel prices and other crises while most rivals introduced bag fees and raised them every few years.', 'Spirit Airlines, on the other hand, made a la carte pricing common in the U.S., with fees for seat assignments, checked bags and other add-ons.', ""It's a strategy most large airlines, except for Southwest, have copied in one form or another."", ""As Southwest starts charging for bags and introduces its first basic economy class, which doesn't include a seat assignment or allow free changes, Spirit could possibly win over customers, Christie said."", 'Southwest said it would get rid of its single-class open seating model last year.', '""There at least was an audience of people who were intentionally selecting and flying Southwest because they felt that it was easy.', 'They knew they were going to get two bags,"" Christie said. ""', ""Now that that's no longer the case, it's easy to say that they're going to widen their aperture and they're now going to look around."", '""Spirit is far smaller than Southwest and even smaller than it was last year, but it competes with the airline in cities like Kansas City, Missouri; Nashville, Tennessee; Columbus, Ohio; and Milwaukee.', ""If customers look on travel sites like Expedia, where Southwest is a new entrant, Spirit's tickets could be cheaper and appear higher in results, Christie said."", 'Other airline executives have also said they expect to win over some Southwest customers.', 'Delta Air LinesPresident Glen Hauenstein said at a JPMorgan industry conference Tuesday that there are consumers who choose Southwest based on its free bag perk ""and now those customers are up for grabs.', '""Spirit, for its part, has recently been offering more ticket bundles that include things like seat assignments and luggage.', 'The carrier is now focused on returning to profitability.', 'It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.', 'Spirit has rejected multiple recent merger attempts by fellow budget carrier Frontier Airlines.', 'Christie said Thursday that nothing is ""off the table"" and that a fifth-largest airline in the U.S. as a low-cost carrier makes sense, but that the airline is focused on stabilizing itself after bankruptcy.', 'Through its restructuring process, which started in November, Spirit said it reduced its debt by about $795 million.', 'The transaction converted debt into equity for major creditors.', 'The carrier also received a $350 million equity infusion.', ""Spirit plans to relist its shares on a stock exchange but hasn't set a date yet.""]",0.2022658279187688,"As Southwest starts charging for bags and introduces its first basic economy class, which doesn't include a seat assignment or allow free changes, Spirit could possibly win over customers, Christie said.","It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.",0.6402744325724515,Other airline executives have also said they expect to win over some Southwest customers.,"It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.",2025-03-24
+"Nvidia, GM announce deal for AI, factories and next-gen vehicles",https://www.cnbc.com/2025/03/18/nvidia-gm-deals-ai-factories-vehicles.html,2025-03-19T13:00:17+0000,"In this articleGeneral Motors and Nvidia have agreed to a strategic collaboration that includes the automaker using several products and artificial intelligence services from the tech giant for its next-generation vehicles, advanced driver-assistance systems and factories.The companies on Tuesday announced that the new initiatives include building custom artificial intelligence systems using Nvidia compute platforms, including ""Omniverse with Cosmos,"" for optimizing GM's factory planning and robotics.The Detroit automaker also said it will use ""Nvidia Drive AGX"" for ""in-vehicle hardware for future advanced driver-assistance systems and in-cabin enhanced safety driving experiences.""GM declined to disclose a cost for the new tools with Nvidia. The tech company has been attempting to diversify its automotive business, which has notably included substantial work in data centers and GPUs.""The era of physical AI is here, and together with GM, we're transforming transportation, from vehicles to the factories where they're made,"" Jensen Huang, Nvidia founder and CEO, said in a release. ""We are thrilled to partner with GM to build AI systems tailored to their vision, craft and know-how.""GM has been using Nvidia graphics processing units, or GPUs, for training AI models across various areas of its business, including simulation and validation. The new business expands to in-vehicle hardware, automotive plant design and operations, the companies said.The automaker also had been testing Nvidia's Omniverse since at least 2022. Some of GM's testing was in designing a ""digital twin,"" or replica, of its new design center and processes to assist virtual vehicle development. It also acted as a single digital environment for employees to work and collaborate in, according to a video last year featuring GM for Nvidia's GTC developer conference in 2023.Nvidia anticipated it would strike a deal with GM mid-last year for Omniverse, according to an internal company email viewed by CNBC. At that time, two sources with GM signaled the automaker wasn't sure Nvidia's software and GPUs were worth the high cost compared with other companies.It wasn't immediately clear what sealed the deal for GM. But since that time, both companies have experienced increased competition from China and uncertain regulatory changes such as tariffs. GM's stock is off roughly 8% during in 2025, while Nvidia is off about 12% this year.""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia's release. ""By merging technology with human ingenuity, we unlock new levels of innovation in vehicle manufacturing and beyond.""The companies announced the new initiatives in connection with Nvidia's GTC AI conference this week in California.Nvidia describes Omniverse as a platform for ""developing and deploying physically based industrial digitalization applications."" It's essentially connecting a physical environment with a digital, or software, world to optimize processes using a ""digital twin"" of a physical environment such as a GM design facility or plant.Users of Nvidia's Omniverse have included BMW, Amazon Robotics and Samsung, Rev Lebaredian, Nvidia vice president of Omniverse and simulation technology, said during a media briefing a year ago. He said the company was licensing Omniverse for $4,500 per GPU, per year.It's unclear how many GPUs GM will need. But given the amount of robotics, sensors and other systems needed to operate a modern assembly plant, it would likely be quite a bit.More than 20 other automakers have used Nvidia's ""system on a chip"" hardware in the central computing units of their smart vehicles, including Mercedes Benz, Volvo, Audi, Volkswagen and BYD, according to an industry equity research note from Jeffries in November 2023.In recent years, Nvidia has seen soaring demand for its GPUs, which are used for everything from bitcoin mining to AI inference and training.",CNBC,19/03/2025,"['In this articleGeneral Motors and Nvidia have agreed to a strategic collaboration that includes the automaker using several products and artificial intelligence services from the tech giant for its next-generation vehicles, advanced driver-assistance systems and factories.', 'The companies on Tuesday announced that the new initiatives include building custom artificial intelligence systems using Nvidia compute platforms, including ""Omniverse with Cosmos,"" for optimizing GM\'s factory planning and robotics.', 'The Detroit automaker also said it will use ""Nvidia Drive AGX"" for ""in-vehicle hardware for future advanced driver-assistance systems and in-cabin enhanced safety driving experiences.', '""GM declined to disclose a cost for the new tools with Nvidia.', 'The tech company has been attempting to diversify its automotive business, which has notably included substantial work in data centers and GPUs.', '""The era of physical AI is here, and together with GM, we\'re transforming transportation, from vehicles to the factories where they\'re made,"" Jensen Huang, Nvidia founder and CEO, said in a release. ""', 'We are thrilled to partner with GM to build AI systems tailored to their vision, craft and know-how.', '""GM has been using Nvidia graphics processing units, or GPUs, for training AI models across various areas of its business, including simulation and validation.', 'The new business expands to in-vehicle hardware, automotive plant design and operations, the companies said.', ""The automaker also had been testing Nvidia's Omniverse since at least 2022."", 'Some of GM\'s testing was in designing a ""digital twin,"" or replica, of its new design center and processes to assist virtual vehicle development.', ""It also acted as a single digital environment for employees to work and collaborate in, according to a video last year featuring GM for Nvidia's GTC developer conference in 2023.Nvidia anticipated it would strike a deal with GM mid-last year for Omniverse, according to an internal company email viewed by CNBC."", ""At that time, two sources with GM signaled the automaker wasn't sure Nvidia's software and GPUs were worth the high cost compared with other companies."", ""It wasn't immediately clear what sealed the deal for GM."", 'But since that time, both companies have experienced increased competition from China and uncertain regulatory changes such as tariffs.', ""GM's stock is off roughly 8% during in 2025, while Nvidia is off about 12% this year."", '""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia\'s release. ""', 'By merging technology with human ingenuity, we unlock new levels of innovation in vehicle manufacturing and beyond.', '""The companies announced the new initiatives in connection with Nvidia\'s GTC AI conference this week in California.', 'Nvidia describes Omniverse as a platform for ""developing and deploying physically based industrial digitalization applications.""', 'It\'s essentially connecting a physical environment with a digital, or software, world to optimize processes using a ""digital twin"" of a physical environment such as a GM design facility or plant.', ""Users of Nvidia's Omniverse have included BMW, Amazon Robotics and Samsung, Rev Lebaredian, Nvidia vice president of Omniverse and simulation technology, said during a media briefing a year ago."", 'He said the company was licensing Omniverse for $4,500 per GPU, per year.', ""It's unclear how many GPUs GM will need."", 'But given the amount of robotics, sensors and other systems needed to operate a modern assembly plant, it would likely be quite a bit.', 'More than20other automakers have used Nvidia\'s ""system on a chip"" hardware in the central computing units of their smart vehicles, including Mercedes Benz, Volvo, Audi, Volkswagen and BYD, according to an industry equity research note from Jeffries in November 2023.In recent years, Nvidia has seen soaring demand for its GPUs, which are used for everything from bitcoin mining to AI inference and training.']",0.2128805987264246,"""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia's release. """,It's unclear how many GPUs GM will need.,0.3955838620662689,"""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia's release. ""","GM's stock is off roughly 8% during in 2025, while Nvidia is off about 12% this year.",2025-03-24
+"Goodbye to 'bags fly free' on Southwest Airlines, the last freebie in America",https://www.cnbc.com/2025/03/15/goodbye-free-bags-southwest-airlines.html,2025-03-15T12:49:04+0000,"Almost nothing is guaranteed in life. Certainly not weather, electricity, health, tariffs or eggs. But for more than 50 years, American consumers could count on Southwest Airlines letting them check bags for free.Dallas-based Southwest is ending the policy in May. Customers are not happy.""It was the only reason I flew Southwest,"" said MaKensey Kaye Alford, a 21-year-old singer and actress who lives near Birmingham, Alabama.Alford, who is planning to move to New York City later this year, said she would ""definitely"" consider taking another airline now.Southwest's customer-friendly policies have survived recessions, oil price spikes and even the Covid-19 pandemic, winning it years of goodwill and a loyal following, even as it has grown. No other airline carries more people in the United States than Southwest.Now, the airline with an unrivaled streak of profitability (its almost never posted an annual loss) is under pressure to increase profits as big competitors outpace the airline. So it's backpedaling off of years of banishing the thought that they would charge customers for bags, adding to other business-model tweaks like assigned seating that give it more in common with all other airlines.Errol Joseph, 36, a sales consultant who lives in New York and Dallas, said he would now consider flying on Delta Air Lines if the price is the same as Southwest because its planes have seatback screens, unlike Southwest. Joseph added that with baggage policy change, there's ""pretty much no reason to be loyal.""The bag policy had been around longer than most women were able to get credit cards on their own without a man's signature. But those days are over. No more freebies, America.Retailers, restaurants and airlines are among the businesses that have been pulling back on free perks, from complimentary birthday coffees to free package returns, since the pandemic ended. Increasingly, airline perks are only available for loyalty program members or customers who buy a more expensive ticket.Delta offers customers free Wi-Fi on board, but only for those who have signed up for its SkyMiles loyalty program. United Airlines is making a similar move, meanwhile, installing equipment on its planes so customers can soon connect to Elon Musk's Starlink satellite Wi-Fi for free if they are members of the airline's MileagePlus program.It typically takes real financial pressure for companies to return to giveaways, but it's not unprecedented. Starbucks, for example, got rid of upcharges for dairy alternatives to attract customers to try to reverse a sales slump.Southwest's decision pits investors against customers.Activist hedge fund and, as of last year, big Southwest shareholder Elliott Investment Management has been increasing pressure on the airline to raise its profits as rivals like Delta and United have pulled ahead. Elliott pushed for faster changes at the carrier, which has been long hesitant to change, so it could increase revenue. The firm last year won five board seats in a settlement with Southwest.In fact, after Southwest unveiled the bag shift and other policy changes, its shares rose close to 9% this week, while Delta, United and American, each fell more than 11%. CEOs of all the carriers raised concerns about weaker-than-expected travel demand, but Southwest bucked the trend, as it expects the changes to add hundreds of millions of dollars to its bottom line.""Shareholder activism is reshaping LUV into a company that we believe investors will eventually gravitate to,"" wrote Seaport Research Partners airline analyst Dan McKenzie in a note Wednesday as he raised his price target on Southwest's shares to $39 thanks to the policy changes even though ""macro backdrop is glum.""The decision to ditch the two-free-checked bags is part of the airline's big profit-seeking makeover in which it is shedding other long-standing offerings like open-seating and single-class cabins for seat assignments and pricier extra legroom options.It will also start offering a no-frills, no-changes basic economy ticket. Flight credits will also soon have expiration dates. Last month, Southwest had its first-ever mass layoff, cutting about 15% of corporate jobs. It has also slashed unprofitable flying.Air travel hasn't stood still over the last half century, and while it's held onto many core tenets, neither has Southwest. It has gradually made changes over the years, starting to sell things like early boarding, for example. And with air travel breaking new records, assigned seating is necessary for both customers and to make the jobs of employees easier, Southwest executives have argued.Charging for checked bags was something Southwest leaders repeatedly said would cost it more than it could make. (U.S. carriers brought in more than $7 billion in baggage fees in 2023.)In a presentation at an investor day last September, Southwest said it would gain between $1 billion and $1.5 billion from charging for bags but lose $1.8 billion of market share.Southwest executives said that's changed.Hours after breaking the news to customers, CEO Bob Jordan said at a JPMorgan industry conference on Tuesday that ""in contrast to our previous analysis, actual customer booking behavior through our new booking channels such as metasearch, did not show that we are getting the same benefit from our bundled offering with free bags, which has led us to update the assumptions.""Jordan added that the carrier has new executives with ""direct experience implementing bag fees at multiple airlines, and that's also helped further validate the new assumptions.""But thousands joined in consumers' cri de coeur.Southwest posted on Instagram on Thursday, two days after its bombshell announcement, saying ""It's not like we traded Luka,"" a nod to the shocking February trade of Dallas Mavericks superstar Luka Doncic to the Los Angeles Lakers. As of Friday afternoon, the post, which also included information about the change, got more than 14,000 replies, far more than couple of hundred responses the account usually gets.""Taking a screen shot of this as it will be the thumbnail for the harvard business review case study of destroying a brand an entire company,"" replied Instagram user rappid_exposure.Frances Frei, a professor of technology and operations management at Harvard Business School, said that, indeed, no other company is likely as studied as Southwest.""I sure hope this isn't a case of activist investors coming in and insisting on a set of decisions that they won't be around to have to endure,"" she said. ""Great organizations get built over time. It doesn't take very long to ruin an organization, and I really don't want this to be an example of that.""Southwest's two checked bags-fly-free policy officially ends May 28 but for now the slogan is still found on board, printed on cocktail napkins.There will be exceptions: Customers who have a Southwest Airlines co-branded credit card can get one bag for free, and customers in its top tiers of service (read: pricier tickets) or its top-tier loyalty program members will get one to two free checked bags.Whether customers abandon Southwest or are simply reacting to the change remains to be seen.The CEOs of Delta, United and Spirit this week said they see an opportunity to win over customers who might turn away from Southwest.Many travelers won't have a lot of other options, however, with so much consolidation among U.S. carriers and stronghold hubs, though they might have to venture to other airports.Southwest has a roughly 73% share at Baltimore/Washington International Thurgood Marshall Airport, a more than 83% share in San Francisco Bay Oakland International Airport, and 89% share in Long Beach, California, according to aviation-data firm Cirium.The real test, Harvard's Frei said, will be whether the bag change will slow down Southwest's operation, with more customers bringing carry-on bags on board to avoid the checked luggage fees.""I just fear the cost is being underestimated,"" she said. ""It's real operational harm to Southwest if they go slower.""Southwest is already preparing its employees for an onslaught of customer luggage at the gate.Just after its announcement on Tuesday, Southwest told its employees in a memo that customers will ""undoubtedly carry on more luggage than before.""Gate agents will receive mobile bag-tag printers ""reducing the need for string bag tags"" and the company will design new carry-on size guides so customers can see if their luggage fits as a carry on, according to a staff memo sent by Justin Jones, EVP of operations, and Adam Decaire, senior vice president of network planning, a copy of which was seen by CNBC.The airline also plans to speed up retrofits of its Boeing 737-800s and Max aircraft with bigger overhead bins.Frei said not charging for bags, unlike the Costco $1.50 hot dog, is not a loss leader, something a company sells at a loss just to win over customers who might buy more expensive, and profitable, items.As much as it's been beloved by customers, the checked bag policy also had a helped the airline turn planes around faster.""The reason isn't because it's kinder to customers. It's because it's a fast turnaround airline,"" she said. ""If I charge for bags, you will be more likely to carry more luggage on board. And when you carry more luggage on board, I lose my fast turnaround advantage.""Southwest is confident that it's prepared for an increase in gate-checked bags and onboard luggage.""We have a series of work streams that are underway with our with our current operations, to make this not impact our turn times,"" COO Andrew Watterson said in an interview.Time will tell how it shakes out. For now, we have the $1.50 Costco hot dogs.",CNBC,15/03/2025,"['Almost nothing is guaranteed in life.', 'Certainly not weather, electricity, health, tariffs or eggs.', 'But for more than 50 years, American consumers could count on Southwest Airlines letting them check bags for free.', 'Dallas-based Southwest is ending the policy in May.', 'Customers are not happy.', '""It was the only reason I flew Southwest,"" said MaKensey Kaye Alford, a 21-year-old singer and actress who lives near Birmingham, Alabama.', 'Alford, who is planning to move to New York City later this year, said she would ""definitely"" consider taking another airline now.', ""Southwest's customer-friendly policies have survived recessions, oil price spikes and even the Covid-19 pandemic, winning it years of goodwill and a loyal following, even as it has grown."", 'No other airline carries more people in the United States than Southwest.', 'Now, the airline with an unrivaled streak of profitability (its almost never posted an annual loss) is under pressure to increase profits as big competitors outpace the airline.', ""So it's backpedaling off of years of banishing the thought that they would charge customers for bags, adding to other business-model tweaks like assigned seating that give it more in common with all other airlines."", 'Errol Joseph, 36, a sales consultant who lives in New York and Dallas, said he would now consider flying on Delta Air Lines if the price is the same as Southwest because its planes have seatback screens, unlike Southwest.', 'Joseph added that with baggage policy change, there\'s ""pretty much no reason to be loyal.', '""The bag policy had been around longer than most women were able to get credit cards on their own without a man\'s signature.', 'But those days are over.', 'No more freebies, America.', 'Retailers, restaurants and airlines are among the businesses that have been pulling back on free perks, from complimentary birthday coffees to free package returns, since the pandemic ended.', 'Increasingly, airline perks are only available for loyalty program members or customers who buy a more expensive ticket.', 'Delta offers customers free Wi-Fi on board, but only for those who have signed up for its SkyMiles loyalty program.', ""United Airlines is making a similar move, meanwhile, installing equipment on its planes so customers can soon connect to Elon Musk's Starlink satellite Wi-Fi for free if they are members of the airline's MileagePlus program."", ""It typically takes real financial pressure for companies to return to giveaways, but it's not unprecedented."", 'Starbucks, for example, got rid of upcharges for dairy alternatives to attract customers to try to reverse a sales slump.', ""Southwest's decision pits investors against customers."", 'Activist hedge fund and, as of last year, big Southwest shareholder Elliott Investment Management has been increasing pressure on the airline to raise its profits as rivals like Delta and United have pulled ahead.', 'Elliott pushed for faster changes at the carrier, which has been long hesitant to change, so it could increase revenue.', 'The firm last year won five board seats in a settlement with Southwest.', 'In fact, after Southwest unveiled the bag shift and other policy changes, its shares rose close to 9% this week, while Delta, United and American, each fell more than 11%.', 'CEOs of all the carriers raised concerns about weaker-than-expected travel demand, but Southwest bucked the trend, as it expects the changes to add hundreds of millions of dollars to its bottom line.', '""Shareholder activism is reshaping LUV into a company that we believe investors will eventually gravitate to,"" wrote Seaport Research Partners airline analyst Dan McKenzie in a note Wednesday as he raised his price target on Southwest\'s shares to $39 thanks to the policy changes even though ""macro backdrop is glum.', '""The decision to ditch the two-free-checked bags is part of the airline\'s big profit-seeking makeover in which it is shedding other long-standing offerings like open-seating and single-class cabins for seat assignments and pricier extra legroom options.', 'It will also start offering a no-frills, no-changes basic economy ticket.', 'Flight credits will also soon have expiration dates.', 'Last month, Southwest had its first-ever mass layoff, cutting about 15% of corporate jobs.', 'It has also slashed unprofitable flying.', ""Air travel hasn't stood still over the last half century, and while it's held onto many core tenets, neither has Southwest."", 'It has gradually made changes over the years, starting to sell things like early boarding, for example.', 'And with air travel breaking new records, assigned seating is necessary for both customers and to make the jobs of employees easier, Southwest executives have argued.', 'Charging for checked bags was something Southwest leaders repeatedly said would cost it more than it could make. (', 'U.S. carriers brought in more than $7 billion in baggage fees in 2023.)In a presentation at an investor day last September, Southwest said it would gain between $1 billion and $1.5 billion from charging for bags but lose $1.8 billion of market share.', ""Southwest executives said that's changed."", 'Hours after breaking the news to customers, CEO Bob Jordan said at a JPMorgan industry conference on Tuesday that ""in contrast to our previous analysis, actual customer booking behavior through our new booking channels such as metasearch, did not show that we are getting the same benefit from our bundled offering with free bags, which has led us to update the assumptions.', '""Jordan added that the carrier has new executives with ""direct experience implementing bag fees at multiple airlines,and that\'s also helped further validate the new assumptions.', '""But thousands joined in consumers\' cri de coeur.', 'Southwest posted on Instagram on Thursday, two days after its bombshell announcement, saying ""It\'s not like we traded Luka,"" a nod to the shocking February trade of Dallas Mavericks superstarLuka Doncic to the Los Angeles Lakers.', 'As of Friday afternoon, the post, which also included information about the change, got more than 14,000 replies, far more than couple of hundred responses the account usually gets.', '""Taking a screen shot of this as it will be the thumbnail for the harvard business review case study of destroying a brand an entire company,"" replied Instagram user rappid_exposure.', 'Frances Frei, a professor of technology and operations management at Harvard Business School, said that, indeed, no other company is likely as studied as Southwest.', '""I sure hope this isn\'t a case of activist investors coming in and insisting on a set of decisions that they won\'t be around to have to endure,"" she said. ""', 'Great organizations get built over time.', ""It doesn't take very long to ruin an organization, and I really don't want this to be an example of that."", '""Southwest\'s two checked bags-fly-free policy officially ends May 28 but for now the slogan is still found on board, printed on cocktail napkins.', 'There will be exceptions: Customers who have a SouthwestAirlinesco-branded credit card can get one bag for free, and customersin its top tiers of service (read: pricier tickets) or its top-tier loyalty program members will get one to two free checked bags.', 'Whether customers abandon Southwest or are simply reacting to the change remains to be seen.', 'The CEOs of Delta, United and Spirit this week said they see an opportunity to win over customers who might turn away from Southwest.', ""Many travelers won't have a lot of other options, however, with so much consolidation among U.S. carriers and stronghold hubs, though they might have to venture to other airports."", 'Southwest has a roughly 73% share at Baltimore/Washington International Thurgood Marshall Airport, a more than 83% share in San Francisco Bay Oakland International Airport, and 89% share in Long Beach, California, according to aviation-data firm Cirium.', ""The real test, Harvard's Frei said, will be whether the bag change will slow down Southwest's operation, with more customers bringing carry-on bags on board to avoid the checked luggage fees."", '""I just fear the cost is being underestimated,"" she said. ""', ""It's real operational harm to Southwest if they go slower."", '""Southwest is already preparing its employees for an onslaught of customer luggage at the gate.', 'Just after its announcement on Tuesday, Southwest told its employees in a memo that customers will ""undoubtedly carry on more luggage than before.', '""Gate agents will receive mobile bag-tag printers ""reducing the need for string bag tags"" and the company will design new carry-on size guides so customers can see if their luggage fits as a carry on, according to a staff memo sent by Justin Jones, EVP of operations, and Adam Decaire, senior vice president of network planning, a copy of which was seen by CNBC.The airline also plans to speed up retrofits of itsBoeing737-800s and Max aircraft with bigger overhead bins.', 'Frei said not charging for bags, unlike the Costco $1.50 hot dog, is not a loss leader, something a company sells at a loss just to win over customers who might buy more expensive, and profitable, items.', ""As much as it's been beloved by customers, the checked bag policy also had a helped the airline turn planes around faster."", '""The reason isn\'t because it\'s kinder to customers.', 'It\'s because it\'s a fast turnaround airline,"" she said. ""', 'If I charge for bags, you will be more likely to carry more luggage on board.', 'And when you carry more luggage on board, I lose my fast turnaround advantage.', '""Southwest is confident that it\'s prepared for an increase in gate-checked bags and onboard luggage.', '""We have a series of work streams that are underway with our with our current operations, to make this not impact our turn times,"" COO Andrew Watterson said in an interview.', 'Time will tell how it shakes out.', 'For now, we have the $1.50 Costco hot dogs.']",0.1903498908221562,"There will be exceptions: Customers who have a SouthwestAirlinesco-branded credit card can get one bag for free, and customersin its top tiers of service (read: pricier tickets) or its top-tier loyalty program members will get one to two free checked bags.","""I just fear the cost is being underestimated,"" she said. """,0.1440805991490682,"Southwest's customer-friendly policies have survived recessions, oil price spikes and even the Covid-19 pandemic, winning it years of goodwill and a loyal following, even as it has grown.",It has also slashed unprofitable flying.,2025-03-24
+Frontier Airlines offers free checked bags promotion in swipe at Southwest,https://www.cnbc.com/2025/03/18/frontier-airlines-free-checked-bags-promo-southwest.html,2025-03-18T17:13:26+0000,"In this articleFrontier Airlines took a swipe at Southwest Airlines' plan to start charging for seat assignments and checked luggage by doing the opposite.Budget carrier Frontier said customers can receive a bundle that includes a seat assignment and a carry-on bag without an upcharge if they book Tuesday through March 24 for travel through Aug. 18. The promotion applies for nonstop trips booked on Frontier's website or app.For flights departing May 28 through Aug. 18, Frontier said it would include a free checked bag, if booked with promo code FREEBAG.The change comes a week after Southwest shocked customers by announcing, starting May 28, it will get rid of its long-standing policy of allowing customers to check two bags for free. Southwest was an outlier with that policy among airlines, and executives there had repeatedly said they didn't plan to change it.""We've always had heart,"" CEO Barry Biffle said in a news release, an apparent swipe at its rival. Southwest, whose home airport is Dallas Love Field, has a love-and-hearts motif as part of its branding and its stock ticker is LUV. ""Some airlines are walking away from what travelers love, but we're running towards it. Think of this as the ultimate 'divorce old airline' deal. If travelers show us the love, we'll make these perks permanent.""Frontier and fellow discount airline Spirit Airlines have been offering fare bundles and easing some of their stricter policies, like on change fees, to attract more customers. Meanwhile, larger carriers like Delta, American, United and most recently, Southwest, have been adopting a la carte fees and no-frills ticket options that the budget carriers have long offered.Southwest brushed off Frontier's latest promotion and highlighted its larger network.""You don't need a promo code to avoid change fees, cancellation fees, view in-flight entertainment or bring along two carry-on items on Southwest,"" Southwest said in a statement. ""We look forward to serving the new Customers attracted to fare above all else, as well as rewarding our most-loyal Customers in our unmatched network connecting more than 850 nonstop city pairs at 117 airports across the United States and 10 international countries.""As part of the changes unveiled last week, Southwest also said it would launch basic economy tickets that don't allow for changes.Last week, executives at United, Delta and Spirit said Southwest's policy changes could be good for their carriers. Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.",CNBC,18/03/2025,"[""In this articleFrontier Airlines took a swipe at Southwest Airlines' plan to start charging for seat assignments and checked luggage by doing the opposite."", ""Budget carrier Frontier said customerscan receive a bundle that includes a seat assignment and a carry-on bag without an upcharge if they book Tuesday through March 24 for travel through Aug. 18.The promotion applies for nonstop trips booked on Frontier's website or app."", 'For flights departing May 28 through Aug. 18, Frontier said it would include a free checked bag, if booked with promo code FREEBAG.The change comes a week after Southwest shocked customers by announcing, starting May 28, it will get rid of its long-standing policy of allowing customers to check two bags for free.', ""Southwest was an outlier with that policy among airlines, and executives there had repeatedly said they didn't plan to change it."", '""We\'ve always had heart,"" CEO Barry Biffle said in a news release, an apparent swipe at its rival.', 'Southwest, whose home airport is Dallas Love Field, has a love-and-hearts motif as part of its branding and its stock ticker is LUV. ""', ""Some airlines are walking away from what travelers love, but we're running towards it."", ""Think of this as the ultimate 'divorce old airline' deal."", ""If travelers show us the love, we'll make these perks permanent."", '""Frontier and fellow discount airline Spirit Airlines have been offering fare bundles and easing some of their stricter policies, like on change fees, to attract more customers.', 'Meanwhile, larger carriers like Delta, American, United and most recently, Southwest, have been adopting a la carte fees and no-frills ticket options that the budget carriers have long offered.', ""Southwest brushed off Frontier's latest promotion and highlighted its larger network."", '""You don\'t need a promo code to avoid change fees, cancellation fees, view in-flight entertainment or bring along two carry-on items on Southwest,"" Southwest said in a statement. ""', 'We look forward to serving the new Customers attracted to fare above all else, as well as rewarding our most-loyal Customers in our unmatched network connecting more than 850 nonstop city pairs at 117 airports across the United States and 10 international countries.', '""As part of the changes unveiled last week, Southwest also said it would launch basic economy tickets that don\'t allow for changes.', ""Last week, executives at United, Delta and Spirit said Southwest's policy changes could be good for their carriers."", 'Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.']",0.3200498443656357,"We look forward to serving the new Customers attracted to fare above all else, as well as rewarding our most-loyal Customers in our unmatched network connecting more than 850 nonstop city pairs at 117 airports across the United States and 10 international countries.",Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.,0.4998854845762253,"Last week, executives at United, Delta and Spirit said Southwest's policy changes could be good for their carriers.",Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.,2025-03-24
+"Ulta issues weak guidance, citing consumer uncertainty, rising competition and company missteps",https://www.cnbc.com/2025/03/13/ulta-beauty-ulta-earnings-q4-2024.html,2025-03-13T21:29:34+0000,"In this articleUlta Beauty on Thursday issued weak guidance for the year ahead as it navigates a series of internal missteps, rising competition and what it called ""consumer uncertainty.""The retailer, which appointed Kecia Steelman as its new CEO in January, said it's expecting comparable sales to be flat or grow 1% in 2025, while analysts had anticipated they would rise by 1.2%, according to StreetAccount. It's expecting full-year earnings to be between $22.50 and $22.90, lower than expectations of $23.47, according to LSEG. Ulta is the latest company to forecast a rocky year ahead. While it factored uncertain consumer spending into its guidance, the retailer is also navigating a series of company-specific challenges and views 2025 as a transition year. Fixing those issues will cost money, which is part of the reason why it's expecting profits to be lower than Wall Street anticipated in the year ahead.""I've shared our plan to make important guest-facing investments, which are necessary to improve our competitiveness and re-accelerate long term share growth,"" said Steelman on a call with analysts. ""These investments will pressure profitability in 2025 but we believe they are critical to driving long-term sustainable growth in a competitive, innovative category.""Shares rose 6% in extended trading.Here's how the beauty retailer did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Feb. 1 was $393 million, or $8.46 per share, compared with $394 million, or $8.08 per share, a year earlier.Sales dropped to $3.49 billion, down about 2% from $3.55 billion a year earlier. Like other retailers, Ulta benefited from an extra selling week in the year-ago period, which has negatively skewed results. Beauty has been one of retail's brightest spots over the last couple of years, but Ulta has fallen behind due to a series of self-inflicted challenges. The company's business has become more complex as it has grown, and Ulta has stumbled when launching new fulfillment choices, such as buy online, pickup in store, same-day delivery and ship from store.""As a result, our in-store presentation and guest experience today are not as strong as we would like,"" said Steelman. ""These are opportunities well within our control.""In January, Ulta announced that its longtime CEO Dave Kimbell would be replaced by its then-Chief Operating Officer Steelman, who has been with the retailer for more than a decade. Her experience as an operations guru makes her well suited to tackle some of the execution issues that have plagued Ulta.During her first earnings call as CEO, Steelman was candid about what Ulta is doing right and what it's doing wrong. She said the company will spend the next year resetting its business and working to take back the market share that it has lost.""The competitive environment in beauty has never been more intense,"" said Steelman. ""For the first time, we lost market share in the beauty category in 2024.""During Ulta's holiday quarter, comparable sales climbed 1.5%, beating expectations of 0.8% growth, according to StreetAccount. Customers spent more during the quarter, resulting in a 3% rise in average ticket, but fewer shoppers came to Ulta's stores to buy beauty products. Transactions during the quarter decreased by 1.4%. Part of that is likely because so many more companies are expanding into beauty. Not only does it compete with rival Sephora, but also mass retailers like Macy's, Walmart and Amazon have made beauty a cornerstone of their strategies and have all expanded their selections of makeup and skincare products.Last year, Ulta warned of a cooling beauty market, but companies like E.l.f. Beauty and Oddity didn't see similar dynamics, and beauty sales remained strong at retailers like Macy's and Target. In the meantime, Ulta has focused on boosting profitability. It managed to grow earnings during the quarter, even with one less selling week.",CNBC,13/03/2025,"['In this articleUlta Beauty on Thursday issued weak guidance for the year ahead as it navigates a series of internal missteps, rising competition and what it called ""consumer uncertainty.', '""The retailer, which appointed Kecia Steelman as its new CEO in January, said it\'s expecting comparable sales to be flat or grow 1% in 2025, while analysts had anticipated they would rise by 1.2%, according to StreetAccount.', ""It's expecting full-year earnings to be between $22.50 and $22.90, lower than expectations of $23.47, according to LSEG.Ulta is the latest company to forecast a rocky year ahead."", 'While it factored uncertain consumer spending into its guidance, the retailer is also navigating a series of company-specific challenges and views 2025 as a transition year.', ""Fixing those issues will cost money, which is part of the reason why it's expecting profits to be lower than Wall Street anticipated in the year ahead."", '""I\'ve shared our plan to make important guest-facing investments, which are necessary to improve our competitiveness and re-accelerate long term share growth,"" said Steelman on a call with analysts. ""', 'These investments will pressure profitability in 2025 but we believe they are critical to driving long-term sustainable growth in a competitive, innovative category.', '""Shares rose 6% in extended trading.', ""Here's how the beauty retailer did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Feb. 1 was $393 million, or $8.46 per share, compared with $394 million, or $8.08 per share, a year earlier."", 'Sales dropped to $3.49 billion, down about 2% from $3.55 billion a year earlier.', 'Like other retailers, Ulta benefited from an extra selling week in the year-ago period, which has negatively skewed results.', ""Beauty has been one of retail's brightest spots over the last couple of years, but Ulta has fallen behind due to a series of self-inflicted challenges."", ""The company's business has become more complex as it has grown, and Ulta has stumbled when launching new fulfillment choices, such as buy online, pickup in store, same-day delivery and ship from store."", '""As a result, our in-store presentation and guest experience today are not as strong as we would like,"" said Steelman. ""', 'These are opportunities well within our control.', '""In January, Ulta announced that its longtime CEO Dave Kimbell would be replaced by its then-Chief Operating Officer Steelman, who has been with the retailer for more than a decade.', 'Her experience as an operations guru makes her well suited to tackle some of the execution issues that have plagued Ulta.', ""During her first earnings call as CEO, Steelman was candid about what Ulta is doing right and what it's doing wrong."", 'She said the company will spend the next year resetting its business and working to take back the market share that it has lost.', '""The competitive environment in beauty has never been more intense,"" said Steelman. ""', 'For the first time, we lost market share in the beauty category in 2024.""During Ulta\'s holiday quarter, comparable sales climbed 1.5%, beating expectations of 0.8% growth, according to StreetAccount.', ""Customers spent more during the quarter, resulting in a 3% rise in average ticket, but fewer shoppers came to Ulta's stores to buy beauty products."", 'Transactions during the quarter decreased by 1.4%.Part of that is likely because so many more companies are expanding into beauty.', ""Not only does it compete with rival Sephora, but also mass retailers like Macy's, Walmart and Amazon have made beauty a cornerstone of their strategies and have all expanded their selections of makeup and skincare products."", 'Last year, Ulta warned of a cooling beauty market, but companies like E.l.f.', ""Beauty and Oddity didn't see similar dynamics, and beauty sales remained strong at retailers like Macy's and Target."", 'In the meantime, Ulta has focused on boosting profitability.', 'It managed to grow earnings during the quarter, even with one less selling week.']",0.321555487728933,"Beauty and Oddity didn't see similar dynamics, and beauty sales remained strong at retailers like Macy's and Target.","During her first earnings call as CEO, Steelman was candid about what Ulta is doing right and what it's doing wrong.",0.1701443940401077,"""Shares rose 6% in extended trading.","Fixing those issues will cost money, which is part of the reason why it's expecting profits to be lower than Wall Street anticipated in the year ahead.",2025-03-24
+"Darden Restaurants sales disappoint, but Olive Garden parent sees consumers continuing to spend",https://www.cnbc.com/2025/03/20/darden-restaurants-dri-q3-2025-earnings.html,2025-03-20T20:45:10+0000,"In this articleDarden Restaurants on Thursday reported weaker-than-expected sales as Olive Garden and LongHorn Steakhouse underperformed analysts' projections.The restaurant company blamed weather for the sales slowdown and maintained its full-year forecast, lifting investors' confidence that the rough quarter was a blip.Darden shares rose 5% Thursday.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Darden reported fiscal third-quarter net income of $323.4 million, or $2.74 per share, up from $312.9 million, or $2.60 per share, a year earlier.Excluding costs related to its acquisition of Chuy's, Darden earned $2.80 per share.Net sales rose 6.2% to $3.16 billion, fueled largely by the addition of Chuy's restaurants to its portfolio.Darden's same-store sales rose 0.7%, less than the 1.7% increase expected by analysts, according to StreetAccount estimates.Executives blamed this winter's low temperatures and snowstorms for the disappointing quarter ended Feb. 23. When excluding weather, same-store sales across all four of Darden's segments grew during the quarter, and only consumers making less than $50,000 were spending less at its casual-dining restaurants.""Even if [consumers] say they're feeling feeling less optimistic, we haven't seen a huge correlation between that and dining out,"" CEO Rick Cardenas told analysts on the company's conference call. ""So I think as long as incomes are going up and outpacing inflation, I think they're likely to keep spending.""Both Olive Garden and LongHorn Steakhouse, which are typically the two standouts of Darden's portfolio, reported underwhelming same-store sales growth. Olive Garden's same-store sales rose 0.6%. Analysts were anticipating same-store sales growth of 1.5%. And LongHorn's same-store sales increased 2.6%, missing analysts' expectations of 5% growth.In February, Olive Garden finished rolling out delivery with Uber Direct. The chain's delivery customers typically spend 20% more than the average curbside pickup order, and Olive Garden saw delivery order volume increase every week.""Now at the end of the third quarter, our pilot restaurants were running around 2.5% of sales in delivery, and the other restaurants were following that same pattern,"" Cardenas said.In the first three weeks of March, both Olive Garden and LongHorn saw strong momentum, executives said.Darden's fine dining segment, which includes The Capital Grille and Ruth's Chris Steak House, reported same-store sales declines of 0.8%. The segment saw stronger demand during the holiday season, but consumers pulled back again in the new year.""We are seeing more persistent check management post-holidays, so I guess we're not ready to claim victory yet on fine dining. It's still soft,"" CFO Raj Vennam said.The last segment of Darden's business, which includes Cheddar's Scratch Kitchen and Yard House, saw same-store sales shrink 0.4% in the quarter.For the full year, Darden reiterated its forecast for revenue of $12.1 billion. It narrowed its outlook for adjusted earnings from continuing operations to a range of $9.45 to $9.52 per share. Its prior forecast was $9.40 to $9.60 per share.Darden's fiscal 2025 outlook includes Chuy's results, but the Tex-Mex chain won't be included in its same-store sales metrics until the fiscal fourth quarter in 2026.Correction: A previous version of this story misattributed a quote about Darden's fine-dining business.",CNBC,20/03/2025,"[""In this articleDarden Restaurants on Thursday reported weaker-than-expected sales as Olive Garden and LongHorn Steakhouse underperformed analysts' projections."", ""The restaurant company blamed weather for the sales slowdown and maintained its full-year forecast, lifting investors' confidence that the rough quarter was a blip."", 'Darden shares rose 5% Thursday.', ""Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Darden reported fiscal third-quarter net income of $323.4 million, or $2.74 per share, up from $312.9 million, or $2.60 per share, a year earlier."", ""Excluding costs related to its acquisition of Chuy's, Darden earned $2.80 per share."", ""Net salesrose 6.2% to $3.16 billion, fueled largely by the addition of Chuy's restaurants to its portfolio."", ""Darden's same-store sales rose 0.7%, less than the 1.7% increase expected by analysts, according to StreetAccount estimates."", ""Executives blamed this winter's low temperatures and snowstorms for the disappointing quarter ended Feb. 23."", ""When excluding weather, same-store sales across all four of Darden's segments grew during the quarter, and only consumers making less than $50,000 were spending less at its casual-dining restaurants."", '""Even if [consumers] say they\'re feeling feeling less optimistic, we haven\'t seen a huge correlation between that and dining out,"" CEO Rick Cardenas told analysts on the company\'s conference call. ""', ""So I think as long as incomes are going up and outpacing inflation, I think they're likely to keep spending."", '""Both Olive Garden and LongHorn Steakhouse, which are typically the two standouts of Darden\'s portfolio, reported underwhelming same-store sales growth.', ""Olive Garden's same-store sales rose 0.6%."", 'Analysts were anticipating same-store sales growth of 1.5%.', ""And LongHorn's same-store sales increased 2.6%, missing analysts' expectations of 5% growth."", 'In February, Olive Garden finished rolling out delivery with Uber Direct.', ""The chain's delivery customers typically spend 20% more than the average curbside pickup order, and Olive Garden saw delivery order volume increase every week."", '""Now at the end of the third quarter, our pilot restaurants were running around 2.5% of sales in delivery, and the other restaurants were following that same pattern,"" Cardenas said.', 'In the first three weeks of March, both Olive Garden and LongHorn saw strong momentum, executives said.', ""Darden's fine dining segment, which includes The Capital Grille and Ruth's Chris Steak House, reported same-store sales declines of 0.8%."", 'The segment saw stronger demand during the holiday season, but consumers pulled back again in the new year.', '""We are seeing more persistent check management post-holidays, so I guess we\'re not ready to claim victory yet on fine dining.', 'It\'s still soft,"" CFO Raj Vennam said.', ""The last segment of Darden's business, which includes Cheddar's Scratch Kitchen and Yard House, saw same-store sales shrink 0.4% in the quarter."", 'For the full year, Darden reiterated its forecast for revenue of $12.1 billion.', 'It narrowed its outlook for adjusted earnings from continuing operations to a range of $9.45 to $9.52 per share.', 'Its prior forecast was $9.40 to $9.60 per share.', ""Darden's fiscal 2025 outlook includes Chuy's results, but the Tex-Mex chain won't be included in its same-store sales metrics until the fiscal fourth quarter in 2026.Correction: A previous version of this story misattributed a quote about Darden's fine-dining business.""]",0.1686304830209421,"""Even if [consumers] say they're feeling feeling less optimistic, we haven't seen a huge correlation between that and dining out,"" CEO Rick Cardenas told analysts on the company's conference call. """,Executives blamed this winter's low temperatures and snowstorms for the disappointing quarter ended Feb. 23.,0.45543680136854,Olive Garden's same-store sales rose 0.6%.,"Darden's fine dining segment, which includes The Capital Grille and Ruth's Chris Steak House, reported same-store sales declines of 0.8%.",2025-03-24
+Boston Celtics sold for $6.1 billion to group led by private equity executive Bill Chisholm,https://www.cnbc.com/2025/03/20/boston-celtics-sold-for-6point1-billion-to-bill-chisholm-sixth-street-group.html,2025-03-20T18:47:50+0000,"A group led by private equity executive Bill Chisholm is buying the National Basketball Association's reigning champion Boston Celtics at a valuation of $6.1 billion, the team's ownership announced Thursday.Private equity firm Sixth Street is part of the new ownership group and will contribute more than $1 billion, one person familiar with the matter said. Other members of the ownership group include Boston-area businessman Rob Hale, a current team owner, and Bruce Beal Jr., president of real estate firm Related Companies.""Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,"" Chisholm said in a Thursday news release. ""I understand how important the Celtics are to the city of Boston — the role the team plays in the community is different than any other city in the country. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.""The Celtics' current ownership group, Boston Basketball Partners, is led by the Grousbeck family. Wyc Grousbeck, the team's CEO and governor, will remain in those roles through the 2027-28 season. If approved, the sale will go through this summer.""Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,"" Grousbeck said in a statement. ""His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team.""The NBA declined to comment.It is unclear how much Chisholm, co-founder of the firm Symphony Technology Group, will personally pay as part of the deal.The $6.1 billion sale price is the highest for a team in U.S. sports history, surpassing the $6.05 billion deal for the National Football League's Washington Commanders in 2023. The Celtics' total valuation could reach $7.3 billion by 2028 depending on the league's overall performance, a person familiar with the matter told CNBC.CNBC Sport's Official NBA Team Valuations list released in February had estimated the Celtics franchise to be worth $5.5 billion. The top-valued team was the Golden State Warriors at $9.4 billion.The sale of the Celtics to a large ownership group comes as sports franchise valuations skyrocket, making it more difficult for individuals or families to buy a team themselves. The NFL last year followed the NBA and other major leagues in allowing private equity firms to take stakes in teams.Soaring media rights payments have contributed to rapid growth in team valuations. The 11-year, $76 billion agreement the NBA signed with Walt Disney, NBCUniversal and Amazon starting next season more than doubled the annual value of the league's previous media deal.The Celtics have won 18 championships, the most in the history of the NBA. The team has the second-best record in the NBA's Eastern Conference this season and is considered a strong contender to win its second consecutive title.— CNBC's Michael Ozanian, Leslie Picker and Scott Wapner contributed to this story.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,20/03/2025,"[""A group led by private equity executive Bill Chisholm is buying the National Basketball Association's reigning champion Boston Celtics at a valuation of $6.1 billion, the team's ownership announced Thursday."", 'Private equity firm Sixth Street is part of the new ownership group and will contribute more than $1 billion, one person familiar with the matter said.', 'Other members of the ownership group include Boston-area businessman Rob Hale, a current team owner, and Bruce Beal Jr., president of real estate firm Related Companies.', '""Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,"" Chisholm said in a Thursday news release. ""', 'I understand how important the Celtics are to the city of Boston — the role the team plays in the community is different than any other city in the country.', 'I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.', '""The Celtics\' current ownership group, Boston Basketball Partners, is led by the Grousbeck family.', ""Wyc Grousbeck, the team's CEO and governor, will remain in those roles through the 2027-28 season."", 'If approved, the sale will go through this summer.', '""Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,"" Grousbeck said in a statement. ""', 'His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team.', '""The NBA declined to comment.', 'It is unclear how much Chisholm, co-founder of the firm Symphony Technology Group, will personally pay as part of the deal.', ""The $6.1 billion sale price is the highest for a team in U.S. sports history, surpassing the $6.05 billion deal for the National Football League's Washington Commanders in 2023."", ""The Celtics' total valuation could reach $7.3 billion by 2028 depending on the league's overall performance, a person familiar with the matter told CNBC.CNBC Sport's Official NBA Team Valuations list released in February had estimated the Celtics franchise to be worth $5.5 billion."", 'The top-valued team was the Golden State Warriors at $9.4 billion.', 'The sale of the Celtics to a large ownership group comes as sports franchise valuations skyrocket, making it more difficult for individuals or families to buy a team themselves.', 'The NFL last year followed the NBA and other major leagues in allowing private equity firms to take stakes in teams.', 'Soaring media rights payments have contributed to rapid growth in team valuations.', ""The 11-year, $76 billion agreement the NBA signed with Walt Disney, NBCUniversal and Amazon starting next season more than doubled the annual value of the league's previous media deal."", 'The Celtics have won 18 championships, the most in the history of the NBA.', ""The team has the second-best record in the NBA's Eastern Conference this season and is considered a strong contender to win its second consecutive title.—CNBC's Michael Ozanian, Leslie Picker and Scott Wapner contributed to this story."", 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.2266127421567241,"The team has the second-best record in the NBA's Eastern Conference this season and is considered a strong contender to win its second consecutive title.—CNBC's Michael Ozanian, Leslie Picker and Scott Wapner contributed to this story.","Other members of the ownership group include Boston-area businessman Rob Hale, a current team owner, and Bruce Beal Jr., president of real estate firm Related Companies.",0.986009521143777,Soaring media rights payments have contributed to rapid growth in team valuations.,,2025-03-24
+"Why it suddenly feels like every fast-food restaurant has fun, flavored drinks",https://www.cnbc.com/2025/03/23/fast-food-chains-fun-flavored-drinks.html,2025-03-24T11:02:47+0000,"In this articleFast-food chains are going all in on fun beverages to attract younger consumers.Chick-fil-A, known for its straightforward menu of fried chicken and waffle fries, is selling seasonal Pineapple Dragonfruit drinks. Yum Brands' Taco Bell installed a beverage concept called Live Mas Café inside one of its California locations. McDonald's is in its second year of testing its drinks-focused spinoff, CosMc's.Restaurant operators are betting that drinks with exotic flavors, bright colors and high caffeine and sugar counts will mean higher sales — and better margins.Fast-food chains are increasingly adding beverage options and widening the number of items within that segment. Refreshers and agua frescas are increasingly showing up on menus, while fast-food chains expand their specialty iced coffee, hot chocolate and energy drink options, according to market research firm Datassential.Fast-food chains' recent focus on drinks mirrors the broader restaurant industry as the number of beverage-focused concepts climbs. More regional coffee shops are coming for Starbucks' crown. Plus, consumers have embraced buying drinks beyond coffee, such as bubble tea and ""dirty soda,"" the Utah trend of adding syrups, creamers and juice to soda that has spread nationwide.More and more full-scale establishments are basing their entire businesses on the growing segment. Beverage chains Swig, 7 Brew Drive Thru Coffee and Gong Cha are among the 10 fastest-growing quick-service restaurant chains by sales, according to restaurant market research firm Technomic.The trend also follows the decadeslong decline in soda consumption since its peak in 2000.""As the consumer moves away from the traditional soda, there's an opportunity for operators and different brands to bring something signature to the table that is more in line with their brand in certain instances, but also an opportunity to potentially charge a little more,"" said Michael Parlapiano, managing director of the Culinary Edge, a consulting firm that has helped Noodles & Company, McDonald's and First Watch on menu offerings.Restaurants are hoping hot chocolate and flavored lemonades can help build loyalty with Gen Z consumers.Compared to previous generations, Gen Z is the most open to new flavors and comes from the most diverse backgrounds. Gen Z's openness gives fast-food chains more latitude to explore more unusual offerings, such as butterfly pea or ube, according to Parlapiano. Monin, a French company best known for its flavored syrups, tapped yuzu, an East Asian citrus fruit, as its flavor of the year for 2025.Traditionally, large fast-food chains are less likely to experiment with such audacious flavors, but even they have stepped outside of their comfort zones. For example, Wendy's current lemonade lineup includes blueberry pomegranate and pineapple mango — two choices that have paid off for the burger giant.""Our premium craft lemonades are also incredibly loved by our customers, and this product over-indexes with Hispanic consumers and Gen Z,"" Wendy's U.S. Chief Marketing Officer Lindsay Radkoski said at a recent investor event.Restaurants have also been inspired to mix different drink trends favored by Gen Z, hoping that the unique mashups will attract adventurous consumers.For example, the soaring popularity of bubble tea, with its chewy tapioca balls, has inspired restaurant chains to add their own boba-inspired touches to drinks beyond tea. CosMc's, the McDonald's spinoff, offers dried blueberries and fruity popping boba as customizations for some of its drinks. Shake Shack's tropical kiwi lemonade includes tiny pieces of kiwi inside the drink, adding a new texture and evoking the chewiness of boba pearls, Parlapiano said.While different than a traditional soda, restaurants' foray into drink innovation often means just as much sugar, if not more, depending on the syrups and add-ons. But that doesn't change Gen Z's appetite for them.""We think of it as 'little treat' culture. What I can spend is in the grand scheme of things, not a huge sum of money, and yes, I can splurge on this big sugary drink,"" said Claire Conaghan, trendologist and associate director for Datassential. ""I think the younger consumer is pretty aware that they're full of sugar, but they're OK with that as their preference for where they get their sweet treat.""For some chains, beverages have taken center stage as an area for improvement — and future sales growth.""We recognize that it's not just about carbonated sodas anymore,"" El Pollo Loco CEO Liz Williams told CNBC. ""So we did a deep dive in beverage innovation this year.""El Pollo Loco's expanded drink offerings now include more flavors of its Aguas Frescas, which are fruit-infused waters. Future drink innovation could mean following the mashup trend, such as selling horchata coffee, Williams said.Wendy's also wants more of its customers to order drinks. Roughly 30% of Wendy's customers do not add a beverage to their order, according to a recent investor presentation.""This is an opportunity for growth when these are highly profitable,"" Wendy's U.S. President Abigail Pringle told analysts.In many cases, beverages generate higher profits and are easier to add to menus than a new food item. While a customer sees a new flavor, for the workers making the drinks, it's just swapping out a syrup flavor or adding a new drizzle on top. With just a little more labor, restaurants can charge a lot more. Plus, syrups also usually have longer expiration dates than food items and are easier to store, according to Datassential's Conaghan.Wendy's new focus on beverages dovetails with its strategy to keep growing its breakfast sales. When the chain launched its breakfast menu nationwide for the first time in early 2020, the early morning menu featured only a few coffee options, such as its Frosty-ccino, which has since been replaced by the Frosty Cream Cold Brew.   ""Our next horizon of growth at breakfast is in beverages,"" Radkoski said.Likewise, Taco Bell focused on the future opportunity presented by beverages during its investor presentation earlier this month.""We believe that beverages can be a new core craving for Taco Bell, and we see a line of sight to building a $5 billion beverage business by 2030,"" Taylor Montgomery, Taco Bell's North American chief marketing officer, said in an investor presentation earlier this month ahead of the brand's Live Mas Live event.Taco Bell is looking to its new Live Mas Café concept to inform future drink innovation. In December, the chain opened the first location inside an existing store in Chula Vista, California. So far, it has helped the restaurant achieve double-digit transaction and sales growth, according to Taco Bell executives.The Live Mas menu features more than 30 drinks, spanning different day parts. Highlights include refrescas that are caffeinated with green tea or Rockstar energy drinks; Churro Chillers; and a ""Dirty Baja,"" made by adding cream to its signature Baja Blast Mountain Dew.""Things that we're learning within the Live Mas Café concept, we're pulling out and trying to scale across all of our units in the U.S.,"" Montgomery said, adding that the company wants to aggressively expand the Live Mas Café this year.Later this year, Taco Bell plans to bring its Dragonfruit Refresca to all U.S. restaurants.",CNBC,24/03/2025,"['In this articleFast-food chains are going all in on fun beverages to attract younger consumers.', 'Chick-fil-A, known for its straightforward menu of fried chicken and waffle fries, is selling seasonal Pineapple Dragonfruit drinks.', ""Yum Brands' Taco Bell installed a beverage concept called Live Mas Café inside one of its California locations."", ""McDonald's is in its second year of testing its drinks-focused spinoff, CosMc's."", 'Restaurant operators are betting that drinks with exotic flavors, bright colors and high caffeine and sugar counts will mean higher sales — and better margins.', 'Fast-food chains are increasingly adding beverage options and widening the number of items within that segment.', 'Refreshers and agua frescas are increasingly showing up on menus, while fast-food chains expand their specialty iced coffee, hot chocolate and energy drink options, according to market research firm Datassential.', ""Fast-food chains' recent focus on drinks mirrors the broader restaurant industry as the number of beverage-focused concepts climbs."", ""More regional coffee shops are coming for Starbucks' crown."", 'Plus, consumers have embraced buying drinks beyond coffee, such as bubble tea and ""dirty soda,"" the Utah trend of adding syrups, creamers and juice to soda that has spread nationwide.', 'More and more full-scale establishments are basing their entire businesses on the growing segment.', 'Beverage chains Swig, 7 Brew Drive Thru Coffee and Gong Cha are among the 10 fastest-growing quick-service restaurant chains by sales, according to restaurant market research firm Technomic.', 'The trend also follows the decadeslong decline in soda consumption since its peak in 2000.""As the consumer moves away from the traditional soda, there\'s an opportunity for operators and different brands to bring something signature to the table that is more in line with their brand in certain instances, but also an opportunity to potentially charge a little more,"" said Michael Parlapiano, managing director of the Culinary Edge, a consulting firm that has helped Noodles & Company, McDonald\'s and First Watch on menu offerings.', 'Restaurants are hoping hot chocolate and flavored lemonades can help build loyalty with Gen Z consumers.', 'Compared to previous generations, Gen Z is the most open to new flavors and comes from the most diverse backgrounds.', ""Gen Z's openness gives fast-food chains more latitude to explore more unusual offerings, such as butterfly pea or ube, according to Parlapiano."", 'Monin, a French company best known for its flavored syrups, tapped yuzu, an East Asian citrus fruit, as its flavor of the year for 2025.Traditionally, large fast-food chains are less likely to experiment with such audacious flavors, but even they have stepped outside of their comfort zones.', ""For example, Wendy's current lemonade lineup includes blueberry pomegranate and pineapple mango — two choices that have paid off for the burger giant."", '""Our premium craft lemonades are also incredibly loved by our customers, and this product over-indexes with Hispanic consumers and Gen Z,"" Wendy\'s U.S. Chief Marketing Officer Lindsay Radkoski said at a recent investor event.', 'Restaurants have also been inspired to mix different drink trends favored by Gen Z, hoping that the unique mashups will attract adventurous consumers.', 'For example, the soaring popularity of bubble tea, with its chewy tapioca balls, has inspired restaurant chains to add their own boba-inspired touches to drinks beyond tea.', ""CosMc's, the McDonald's spinoff, offers dried blueberries and fruity popping boba as customizations for some of its drinks."", ""Shake Shack's tropical kiwi lemonade includes tiny pieces of kiwi inside the drink, adding a new texture and evoking the chewiness of boba pearls, Parlapiano said."", ""While different than a traditional soda, restaurants' foray into drink innovation often means just as much sugar, if not more, depending on the syrups and add-ons."", ""But that doesn't change Gen Z's appetite for them."", '""We think of it as \'little treat\' culture.', 'What I can spend is in the grand scheme of things, not a huge sum of money, and yes, I can splurge on this big sugary drink,"" said Claire Conaghan, trendologist and associate director for Datassential. ""', ""I think the younger consumer is pretty aware that they're full of sugar, but they're OK with that as their preference for where they get their sweet treat."", '""For some chains, beverages have taken center stage as an area for improvement — and future sales growth.', '""We recognize that it\'s not just about carbonated sodas anymore,"" El Pollo Loco CEO Liz Williams told CNBC. ""', 'So we did a deep dive in beverage innovation this year.', '""El Pollo Loco\'s expanded drink offerings now include more flavors of its Aguas Frescas, which are fruit-infused waters.', 'Future drink innovation could mean following the mashup trend, such as selling horchata coffee, Williams said.', ""Wendy's also wants more of its customers to order drinks."", ""Roughly 30% of Wendy's customers do not add a beverage to their order, according to a recent investor presentation."", '""This is an opportunity for growth when these are highly profitable,"" Wendy\'s U.S. President Abigail Pringle told analysts.', 'In many cases, beverages generate higher profits and are easier to add to menus than a new food item.', ""While a customer sees a new flavor, for the workers making the drinks, it's just swapping out a syrup flavor or adding a new drizzle on top."", 'With just a little more labor, restaurants can charge a lot more.', ""Plus, syrups also usually have longer expiration dates than food items and are easier to store, according to Datassential's Conaghan."", ""Wendy's new focus on beverages dovetails with its strategy to keep growing its breakfast sales."", 'When the chain launched its breakfast menu nationwide for the first time in early 2020, the early morning menu featured only a few coffee options, such as its Frosty-ccino, which has since been replaced by the Frosty Cream Cold Brew. ""', 'Our next horizon of growth at breakfast is in beverages,"" Radkoski said.', 'Likewise, Taco Bell focused on the future opportunity presented by beverages during its investor presentation earlier this month.', '""We believe that beverages can be a new core craving for Taco Bell, and we see a line of sight to building a $5 billion beverage business by 2030,"" Taylor Montgomery, Taco Bell\'s North American chief marketing officer, said in an investor presentation earlier this month ahead of the brand\'s Live Mas Live event.', 'Taco Bell is looking to its new Live Mas Café concept to inform future drink innovation.', 'In December, the chain opened the first location inside an existing store in Chula Vista, California.', 'So far, it has helped the restaurant achieve double-digit transaction and sales growth, according to Taco Bell executives.', 'The Live Mas menu features more than 30 drinks, spanning different day parts.', 'Highlights include refrescas that are caffeinated with green tea or Rockstar energy drinks; Churro Chillers; and a ""Dirty Baja,"" made by adding cream to its signature Baja Blast Mountain Dew.', '""Things that we\'re learning within the Live Mas Café concept, we\'re pulling out and trying to scale across all of our units in the U.S.,"" Montgomery said, adding that the company wants to aggressively expand the Live Mas Café this year.', 'Later this year, Taco Bell plans to bring its Dragonfruit Refresca to all U.S. restaurants.']",0.2950859221269502,"I think the younger consumer is pretty aware that they're full of sugar, but they're OK with that as their preference for where they get their sweet treat.","Plus, consumers have embraced buying drinks beyond coffee, such as bubble tea and ""dirty soda,"" the Utah trend of adding syrups, creamers and juice to soda that has spread nationwide.",0.9904802640279134,"So far, it has helped the restaurant achieve double-digit transaction and sales growth, according to Taco Bell executives.",,2025-03-24
+White House pulls Trump’s nomination for CDC director hours before confirmation hearing,https://www.cnbc.com/2025/03/13/white-house-pulls-trump-cdc-director-nominee-dave-weldon.html,2025-03-13T17:46:50+0000,"The White House has pulled President Donald Trump's nominee to lead the Centers for Disease Control and Prevention, former Rep. Dave Weldon, the Senate's health committee confirmed Thursday.The move came just hours before the Republican former Florida lawmaker, a vaccine critic, was set to appear before the U.S. Senate Committee on Health, Education, Labor and Pensions for a confirmation hearing. The panel said the hearing, which had been scheduled for 10 a.m. ET, is canceled.Axios first reported the decision on Thursday. Robert F. Kennedy Jr., who leads the Department of Health and Human Services, said Weldon wasn't ready for the role, Axios reported. HHS oversees the CDC and all other federal health agencies.Weldon said he had been excited to work with Kennedy and serve the country again, The New York Times reported Thursday.""It is a shock, but, you know, in some ways, it's relief,"" Weldon told the paper. ""Government jobs demand a lot of you, and if God doesn't want me in it, I'm fine with that.""He said he plans to ""get on an airplane at 11 o'clock and I'm going to go home and I'm going to see patients on Monday,"" according to the newspaper.""I'll make much more money staying in my medical practice,"" Weldon added.But Weldon's views align closely with Kennedy, a notorious vaccine skeptic. Weldon, 71, has long questioned the safety of certain vaccines, promoting the false claim linking vaccines to autism. In 2006, Weldon appeared with parents who claimed that the CDC had covered up evidence tying vaccines to children developing autism.The CDC will reportedly reexamine that link under Kennedy despite decades of research debunking it.While in Congress, Weldon sponsored a bill that would transfer responsibility for vaccine safety away from the CDC. He claimed the agency had a conflict of interest because it purchases and promotes vaccines. The bill never made it past committees. Weldon is an internal medicine doctor who served in Congress for 14 years, from 1995 to 2009. Sen. Patty Murray, a Democrat from Washington and HELP committee member, has said she was ""deeply disturbed"" by Weldon's false claims about vaccines.In a statement on Thursday, Murray said, ""While I have little to no confidence in the Trump administration to do so, they should immediately nominate someone for this position who at bare minimum believes in basic science and will help lead CDC's important work to monitor and prevent deadly outbreaks.""She added that Kennedy is already doing ""incalculable damage by spreading lies and disinformation as the top health official in America.""HHS did not immediately respond to a request to comment on why the administration pulled Weldon's nomination and when Trump may choose another person for the post.",CNBC,13/03/2025,"[""The White House has pulled President Donald Trump's nominee to lead the Centers for Disease Control and Prevention, former Rep. Dave Weldon, the Senate's health committee confirmed Thursday."", 'The move came just hours before the Republican former Florida lawmaker, a vaccine critic, was set to appearbefore the U.S. Senate Committee on Health, Education, Labor and Pensions for a confirmation hearing.', 'The panel said the hearing, which had been scheduled for 10 a.m. ET, is canceled.', 'Axios first reported the decision on Thursday.', ""Robert F. Kennedy Jr., who leads the Department of Health and Human Services, said Weldon wasn't ready for the role, Axios reported."", 'HHS oversees the CDC and all other federal health agencies.', 'Weldon said he had been excited to work with Kennedy and serve the country again, The New York Times reported Thursday.', '""It is a shock, but, you know, in some ways, it\'s relief,"" Weldon told the paper. ""', ""Government jobs demand a lot of you, and if God doesn't want me in it, I'm fine with that."", '""He said he plans to ""get on an airplane at 11 o\'clock and I\'m going to go home and I\'m going to see patients on Monday,"" according to the newspaper.', '""I\'ll make much more money staying in my medical practice,"" Weldon added.', ""But Weldon's views align closely with Kennedy, a notorious vaccine skeptic."", 'Weldon, 71, has long questioned the safety of certain vaccines, promoting the false claim linking vaccines to autism.', 'In 2006, Weldon appearedwith parents who claimed that the CDC had covered up evidence tying vaccines to children developing autism.', 'The CDC will reportedly reexamine that link under Kennedy despite decades of research debunking it.', 'While in Congress, Weldon sponsored a bill that would transfer responsibility for vaccine safety away from the CDC.', 'He claimed the agency had a conflict of interest because it purchases and promotes vaccines.', 'The bill never made it past committees.', 'Weldon is an internal medicine doctor who served in Congress for 14 years, from 1995 to 2009.Sen.', 'Patty Murray, a Democrat from Washington and HELP committee member, has said she was ""deeply disturbed"" by Weldon\'s false claims about vaccines.', 'In a statement on Thursday, Murray said, ""While I have little to no confidence in the Trump administration to do so, they should immediately nominate someone for this position who at bare minimum believes in basic science and will help lead CDC\'s important work to monitor and prevent deadly outbreaks.', '""She added that Kennedy is already doing ""incalculable damage by spreading lies and disinformation as the top health official in America.', '""HHS did not immediately respond to a request to comment on why the administration pulled Weldon\'s nomination and when Trump may choose another person for the post.']",0.1053608637340835,"Weldon, 71, has long questioned the safety of certain vaccines, promoting the false claim linking vaccines to autism.","But Weldon's views align closely with Kennedy, a notorious vaccine skeptic.",0.0045524338881174,"""I'll make much more money staying in my medical practice,"" Weldon added.","""She added that Kennedy is already doing ""incalculable damage by spreading lies and disinformation as the top health official in America.",2025-03-24
+Edible Arrangements' parent company is launching a marketplace for the other kind of edibles,https://www.cnbc.com/2025/03/20/edible-arrangements-parent-launches-hemp-marketplace-ediblescom.html,2025-03-20T19:16:25+0000,"The parent company of Edible Arrangements is moving into a different kind of edible.Edible Brands is launching Edibles.com, an e-commerce marketplace for hemp products, such as Cann drinks and Wana gummies.The 2018 Farm Bill legalized hemp, which is legally defined as a plant that contains 0.3% or less tetrahydrocannabinol, or THC, the primary intoxicant in cannabis. The federal law paved the way for companies to sell products with THC derived from hemp rather than marijuana across most states, even if those areas haven't legalized marijuana.A handful of states, like Connecticut, have placed restrictions on how much THC a hemp product can contain. But in much of the country, hemp legalization has led to a veritable Wild West.""There's a lot of demand for hemp products out there right now, but what people are looking for is that safe and trusted place to buy it,"" Edible Brands CEO Somia Farid Silber told CNBC.The website launches Friday, starting with Texas. The company is planning to roll out the platform nationwide quickly, with Florida, Georgia and other Southeastern markets following soon after Texas.Edibles.com also has a lease for a brick-and-mortar location in Inman Park in Atlanta and said it plans to add physical locations in other states as well.""This is a defining moment for the hemp industry,"" Cann CEO and co-founder Jake Bullock said in a statement. ""A trusted, high-quality marketplace like Edibles.com has the power to reshape the future of THC products and drive the long-term industry growth we've all been working toward.""As a private company, Edible Brands does not have to disclose its quarterly financial results. The business, best known for its fruit baskets inspired by floral bouquets, had nearly 800 locations as of the end of 2023.While cannabis remains illegal at the federal level, 24 states have legalized it for recreational use. Legal retail sales were projected to surpass $32 billion in 2024, with roughly 14% — or $4.5 billion — coming from edibles, according to a study from cannabis-focused software company Leaflink.Silber said the idea of selling edibles has been percolating ""for a while.""A year ago, the company acquired the edibles.com domain name after settling a yearslong lawsuit against World Media Group for ""cybersquatting,"" or registering a well-known domain name in the hope of reselling it for a profit.By July, Edible Brands hired cannabis executive Thomas Winstanley as executive vice president of Edibles.com. And in October, Silber took the reins as CEO after eight years at the company.""We positioned it as a way to be able to create that connection for people who may be looking for permission to try these things, who have been hearing about them,"" Winstanley said. ""But it's different when you walk in and see these products at a gas station, instead of seeing a collection of the nation's leading products.""For one, the dosage of Edibles.com's offerings hover around five milligrams per serving, according to Winstanley. The dose is considered on the low end; Colorado, for example, caps edible cannabis products at 10 milligrams of THC per serving.Plus, when selecting its suppliers, the company stuck with companies that are well known in the hemp and cannabis industries in order to increase trust in the platform. In addition to Cann and Wana, brands sold on Edibles.com include Cantrip and 1906.Those suppliers went through a tough compliance audit and questioning to make sure their production and sourcing were above board, Winstanley said.And it isn't just suppliers who have to worry about compliance.Edibles.com will fulfill its online orders using its existing franchise system. The Edible Arrangements franchisees who participate will allow the nascent business to offer same-day or next-day delivery, just like it does with its fruit baskets or chocolate-dipped strawberries.""With our franchise network that we have today, we can cover 70% of households in the U.S. within an hour,"" Silber said.Edibles.com has done ""extensive"" compliance and background checks to make sure that the operators involved understand the requirements of delivering its edibles, according to Winstanley.Select products will also be available for nationwide shipping even before Edibles.com expands to other markets.Ahead of the official launch, Edible Brands is already looking to the future, with bold expansion plans.Its future slate could include making its own edibles, Winstanley said: ""That's another extension that we're actively working on in real time.""Less likely is a collaboration between Edibles.com and its sister company. However, Silber said that the initial marketing will play into long-running questions from Edible Arrangements customers about why the company doesn't sell the other kind of edibles.",CNBC,20/03/2025,"['The parent company of Edible Arrangements is moving into a different kind of edible.', 'Edible Brands is launching Edibles.com, an e-commerce marketplace for hemp products, such as Cann drinks and Wana gummies.', 'The 2018 Farm Bill legalized hemp, which is legally defined as a plant that contains 0.3% or less tetrahydrocannabinol, or THC, the primary intoxicant in cannabis.', ""The federal law paved the way for companies to sell products with THC derived from hemp rather than marijuana across most states, even if those areas haven't legalized marijuana."", 'A handful of states, like Connecticut, have placed restrictions on how much THC a hemp product can contain.', 'But in much of the country, hemp legalization has led to a veritable Wild West.', '""There\'s a lot of demand for hemp products out there right now, but what people are looking for is that safe and trusted place to buy it,"" Edible Brands CEO Somia Farid Silber told CNBC.The website launches Friday, starting with Texas.', 'The company is planning to roll out the platform nationwide quickly, with Florida, Georgia and other Southeastern markets following soon after Texas.Edibles.com also has a lease for a brick-and-mortar location in Inman Park in Atlanta and said it plans to add physical locations in other states as well.', '""This is a defining moment for the hemp industry,"" Cann CEO and co-founder Jake Bullock said in a statement. ""', ""A trusted, high-quality marketplace like Edibles.com has the power to reshape the future of THC products and drive the long-term industry growth we've all been working toward."", '""As a private company, Edible Brands does not have to disclose its quarterly financial results.', 'The business, best known for its fruit baskets inspired by floral bouquets, had nearly 800 locations as of the end of 2023.While cannabis remains illegal at the federal level, 24 states have legalized it for recreational use.', 'Legal retail sales were projected to surpass $32 billion in 2024, with roughly 14% — or $4.5 billion — coming from edibles, according to a study from cannabis-focused software company Leaflink.', 'Silber said the idea of selling edibles has been percolating ""for a while.', '""A year ago, the company acquired the edibles.com domain name after settling a yearslong lawsuit against World Media Group for ""cybersquatting,"" or registering a well-known domain name in the hope of reselling it for a profit.', 'By July, Edible Brands hired cannabis executive Thomas Winstanley as executive vice president of Edibles.com.', 'And in October, Silber took the reins as CEO after eight years at the company.', '""We positioned it as a way to be able to create that connection for people who may be looking for permission to try these things, who have been hearing about them,"" Winstanley said. ""', ""But it's different when you walk in and see these products at a gas station, instead of seeing a collection of the nation's leading products."", '""For one, the dosage of Edibles.com\'s offerings hover around five milligrams per serving, according to Winstanley.', 'The dose is considered on the low end; Colorado, for example, caps edible cannabis products at 10 milligrams of THC per serving.', 'Plus, when selecting its suppliers, the company stuck with companies that are well known in the hemp and cannabis industries in order to increase trust in the platform.', 'In addition to Cann and Wana, brands sold on Edibles.com include Cantrip and 1906.Those suppliers went through a tough compliance audit and questioning to make sure their production and sourcing were above board, Winstanley said.', ""And it isn't just suppliers who have to worry about compliance.Edibles.com will fulfill its online orders using its existing franchise system."", 'The Edible Arrangements franchisees who participate will allow the nascent business to offer same-day or next-day delivery, just like it does with its fruit baskets or chocolate-dipped strawberries.', '""With our franchise network that we have today, we can cover 70% of households in the U.S. within an hour,"" Silber said.Edibles.com has done ""extensive"" compliance and background checks to make sure that the operators involved understand the requirements of delivering its edibles, according to Winstanley.', 'Select products will also be available for nationwide shipping even before Edibles.com expands to other markets.', 'Ahead of the official launch, Edible Brands is already looking to the future, with bold expansion plans.', 'Its future slate could include making its own edibles, Winstanley said: ""That\'s another extension that we\'re actively working on in real time.', '""Less likely is a collaboration between Edibles.com and its sister company.', ""However, Silber said that the initial marketing will play into long-running questions from Edible Arrangements customers about why the company doesn't sell the other kind of edibles.""]",0.2521863036793272,"""There's a lot of demand for hemp products out there right now, but what people are looking for is that safe and trusted place to buy it,"" Edible Brands CEO Somia Farid Silber told CNBC.The website launches Friday, starting with Texas.","The dose is considered on the low end; Colorado, for example, caps edible cannabis products at 10 milligrams of THC per serving.",0.6633716651371547,"Legal retail sales were projected to surpass $32 billion in 2024, with roughly 14% — or $4.5 billion — coming from edibles, according to a study from cannabis-focused software company Leaflink.","In addition to Cann and Wana, brands sold on Edibles.com include Cantrip and 1906.Those suppliers went through a tough compliance audit and questioning to make sure their production and sourcing were above board, Winstanley said.",2025-03-24
+Boeing Starliner astronauts complete return to Earth in SpaceX capsule after extended stay on ISS,https://www.cnbc.com/2025/03/18/boeing-starliner-astronauts-butch-wilmore-suni-williams-returning-spacex-iss.html,2025-03-19T12:35:13+0000,"In this articleThe two U.S. astronauts who had been at the International Space Station for nine months after their faulty Boeing Starliner capsule returned without them are finally back on Earth.NASA astronauts Butch Wilmore and Suni Williams — as well as fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov — successfully splashed down in a SpaceX Dragon capsule off the coast of Tallahassee, Florida, at 5:57 p.m. ET.Splash downs, or water landings, are simpler for returning to Earth.Hague said he saw a ""capsule full of grins, ear to ear."" The astronauts will head to NASA's Johnson Space Center in Houston for several days of routine health checks before they go home.Wilmore and Williams left Earth in June on a test flight that was originally intended to last about nine days.But their stay was extended after thrusters on Boeing's Starliner capsule ""Calypso"" failed during docking, raising concerns about the ship's ability to carry them home. NASA ultimately sent the capsule back empty after it was docked for about three months at the space station, saying it wanted to ""further understand the root causes"" of the spacecraft's issues.NASA also announced that Wilmore and Williams, who are both veteran astronauts and retired Navy test pilots, would return on a SpaceX Dragon spacecraft instead. The agency adjusted its rotation of astronauts as a result, removing two people from SpaceX's Crew-9 mission — which returned to Earth Tuesday — to make room for Wilmore and Williams.That capsule carrying the two people on Crew-9 arrived at the ISS back in September. Crews rotate on the ISS, which means that each group of astronauts works until the next arrives at the space station, when a ceremonial ""handover"" occurs.NASA had originally planned for SpaceX's Crew-10 mission — which needed to arrive before the Crew-9 members could come back down — to launch in February, but it was delayed by about a month.The rocket carrying the four new crew members of Crew-10 launched on Friday evening, and its capsule docked at the space station about 29 hours later.The Starliner crew flight test was supposed to check a final box for Boeing and deliver a key asset for NASA. The agency was hoping to fulfill its dream of having two competing companies — Boeing and Elon Musk's SpaceX — flying alternating missions to the ISS.Instead, it's unclear what Boeing's future crewed space plans are. The company has lost more than $2 billion on its Starliner spacecraft.""Boeing all the way up to their new CEO Kelly [Ortberg] has been committed to Starliner,"" Steve Stich, manager of NASA's Commercial Crew Program, said in a press briefing Tuesday evening. ""I can see that in the way they're approaching the solution to their problems. … I see them being very committed.""NASA officials in the briefing reiterated that Starliner needs to undergo more testing and left the option open that its next flight could be uncrewed.Wilmore and Williams' journey became entangled in politics once President Donald Trump took office. Trump and Musk, who has become a close advisor to the president, urged a quicker Crew-10 launch and said without evidence that the two astronauts were ""stranded"" on the space station and that the Biden administration had kept them up there for political reasons. NASA had delayed the Crew-10 launch in December to allow more time to process a new Dragon capsule, but decided to use a reusable capsule to cut down on wait time.NASA's plans for returning the two astronauts have remained consistent since the agency announced them in August.During their extended stay, Wilmore and Williams became part of a normal rotation, conducting scientific experiments and routine maintenance as any other astronaut on rotation at the ISS would. Williams also conducted a spacewalk.Williams has said repeatedly that the pair doesn't feel ""abandoned"" at the ISS, but that she was looking forward to returning home to see her family and her two dogs.""It's been a roller coaster for them, probably a little bit more so than for us,"" she told reporters earlier this month.",CNBC,19/03/2025,"['In this articleThe two U.S. astronauts who had been at the International Space Station for nine months after their faulty Boeing Starliner capsule returned without them are finally back on Earth.', 'NASA astronauts Butch Wilmore and Suni Williams — as well as fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov — successfully splashed down in a SpaceX Dragon capsule off the coast of Tallahassee, Florida, at 5:57 p.m. ET.Splash downs, or water landings, are simpler for returning to Earth.', 'Hague said he saw a ""capsule full of grins, ear to ear.""', ""The astronauts will head to NASA's Johnson Space Center in Houston for several days of routine health checks before they go home."", 'Wilmore and Williams left Earth in June on a test flight that was originally intended to last about nine days.', 'But their stay was extended after thrusters on Boeing\'s Starliner capsule ""Calypso""failed during docking, raising concerns about the ship\'s ability to carry them home.', 'NASA ultimately sent the capsule back empty after it was docked for about three months at the space station, saying it wanted to ""further understand the root causes"" of the spacecraft\'s issues.', 'NASA also announced that Wilmore and Williams, who are both veteran astronauts and retired Navy test pilots, would return on a SpaceX Dragon spacecraft instead.', ""The agency adjusted its rotation of astronauts as a result, removing two people from SpaceX's Crew-9 mission — which returned to Earth Tuesday — to make room for Wilmore and Williams."", 'That capsule carrying the two people on Crew-9 arrived at the ISS back in September.', 'Crews rotate on the ISS, which means that each group of astronauts works until the next arrives at the space station, when a ceremonial ""handover"" occurs.', ""NASA had originally planned for SpaceX's Crew-10 mission — which needed to arrive before the Crew-9 members could come back down — to launch in February, but it was delayed by about a month."", 'The rocket carrying the four new crew members of Crew-10 launched on Friday evening, and its capsule docked at the space station about 29 hours later.', 'The Starliner crew flight test was supposed to check a final box for Boeing and deliver a key asset for NASA.', ""The agency was hoping to fulfill its dream of having two competing companies — Boeing andElon Musk's SpaceX — flying alternating missions to the ISS.Instead, it's unclear what Boeing's future crewed space plans are."", 'The company has lost more than $2 billion on its Starliner spacecraft.', '""Boeing all the way up to their new CEO Kelly [Ortberg] has been committed to Starliner,"" Steve Stich, manager of NASA\'s Commercial Crew Program, said in a press briefing Tuesday evening. ""', ""I can see that in the way they're approaching the solution to their problems. …"", 'I see them being very committed.', '""NASA officials in the briefing reiterated that Starliner needs to undergo more testing and left the option open that its next flight could be uncrewed.', ""Wilmore and Williams' journey became entangled in politics once President Donald Trump took office."", 'Trump and Musk, who has become a close advisor to the president, urged a quicker Crew-10 launch and said without evidence that the two astronauts were ""stranded"" on the space station and that the Biden administration had kept them up there for political reasons.', 'NASA had delayed the Crew-10 launch in December to allow more time to process a new Dragon capsule, but decided to use a reusable capsule to cut down on wait time.', ""NASA's plans for returning the two astronauts have remained consistent since the agency announced them in August."", 'During their extended stay, Wilmore and Williams became part of a normal rotation, conducting scientific experiments and routine maintenance as any other astronaut on rotation at the ISS would.', 'Williams also conducted a spacewalk.', 'Williams has said repeatedly that the pair doesn\'t feel ""abandoned"" at the ISS, but that she was looking forward to returning home to see her family and her two dogs.', '""It\'s been a roller coaster for them, probably a little bit more so than for us,"" she told reporters earlier this month.']",0.0429894556632367,"The agency was hoping to fulfill its dream of having two competing companies — Boeing andElon Musk's SpaceX — flying alternating missions to the ISS.Instead, it's unclear what Boeing's future crewed space plans are.","NASA had delayed the Crew-10 launch in December to allow more time to process a new Dragon capsule, but decided to use a reusable capsule to cut down on wait time.",-0.8697511355082194,,The company has lost more than $2 billion on its Starliner spacecraft.,2025-03-24
+"Boeing shares jump after CFO gives upbeat outlook, says cash burn is easing",https://www.cnbc.com/2025/03/19/boeing-shares-jump-as-cfo-says-plane-makers-cash-burn-is-easing.html,2025-03-19T20:41:52+0000,"In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises.Boeing shares ended the day nearly 7% higher after CFO Brian West's upbeat comments, leading the Dow Jones Industrial Average and S&P 500 higher.""We think we're off to a good start for the year,"" West said at a Bank of America investor conference. He said cash burn improvement could be in the ""hundreds of millions"" of dollars.Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems. Boeing last posted an annual profit in 2018.West said the massive fire at a Pennsylvania aviation fastener factory in February won't have a near-term production impact or affect Boeing's goal to get monthly output to 38 737 Max aircraft a month and seven 787 Dreamliners because of its elevated inventory.The FAA last year barred Boeing from ramping production up beyond 38 Max planes a month following the January 2024 midair blow out of a door plug on a passenger jet. New Transportation Secretary Sean Duffy said the cap remains in place, following a visit to Boeing's 737 Max factory in Renton, Washington, last week.Boeing is still working up to its capped production rate.West also brushed off immediate concerns about President Donald Trump's proposed tariffs, but said any impact depends on how long the uncertainty lasts.",CNBC,19/03/2025,"[""In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises."", ""Boeing shares ended the day nearly 7% higher after CFO Brian West's upbeat comments, leading the Dow Jones Industrial Average and S&P 500 higher."", '""We think we\'re off to a good start for the year,"" West said at a Bank of America investor conference.', 'He said cash burn improvement could be in the ""hundreds of millions"" of dollars.', 'Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems.', ""Boeing last posted an annual profit in 2018.West said the massive fire at a Pennsylvania aviation fastener factory in February won't have a near-term production impact or affect Boeing's goal to get monthly output to 38 737 Max aircraft a month and seven 787 Dreamliners because of its elevated inventory."", 'The FAA last year barred Boeing from ramping production up beyond 38 Max planes a month following the January 2024 midair blow out of a door plug on a passenger jet.', ""New Transportation Secretary Sean Duffy said the cap remains in place, following a visit to Boeing's 737 Max factory in Renton, Washington, last week."", 'Boeing is still working up to its capped production rate.', ""West also brushed off immediate concerns about President Donald Trump's proposed tariffs, but said any impact depends on how long the uncertainty lasts.""]",0.0930748581058197,"In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises.","Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems.",0.2584757134318352,"In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises.","Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems.",2025-03-24
+"U.S. consumers are starting to crack as tariffs add to inflation, recession concerns",https://www.cnbc.com/2025/03/14/delta-walmart-warn-about-consumer-spending-amid-tariffs-inflation.html,2025-03-15T11:18:46+0000,"It's not just Walmart.The leaders of companies that serve everyone from penny-pinching grocery shoppers to first-class travelers are seeing cracks in demand, a shift after resilient consumers propped up the U.S. economy for years despite prolonged inflation. On top of high interest rates and persistent inflation, CEOs are now grappling with how to handle new hurdles like on-again, off-again tariffs, mass government layoffs and worsening consumer sentiment.Across earnings calls and investor presentations in recent weeks, retailers and other consumer-facing businesses warned that first-quarter sales were coming in softer than expected and the rest of the year might be tougher than Wall Street thought. Many of the executives blamed unseasonably cool weather and a ""dynamic"" macroeconomic environment, but the early days of President Donald Trump's second term have brought new challenges — perhaps none greater than trying to plan a global business at a time when his administration shifts its trade policies by the hour.Economists largely expect Trump's new tariffs on goods from China, Canada and Mexico will raise prices for consumers and dampen spending at a time when inflation remains higher than the Federal Reserve's target. In February, consumer confidence — which can help to signal how much shoppers are willing to shell out — saw the biggest drop since 2021. A separate consumer sentiment measure for March also came in worse than expected.Another sign of weakness has been in air travel. The sector, especially large international airlines, had been a bright spot following the pandemic, with consumers proving again and again that they wouldn't give up trips even in the face of the biggest jump inflation in more than four decades. This week, however, the CEOs of the four largest U.S. airlines — United, American, Delta and Southwest — said they are seeing a slowdown in demand this quarter. American, Delta and Southwest cut their first-quarter forecasts.Plus, the strong U.S. job market of recent years is showing early signs of stress as job growth slows and unemployment ticks up.These trends have thrown cold water on what was a red-hot stock market and sparked new fears about a potential recession, sending the S&P 500 tumbling 10% from its record highs in February, though it had recovered significant ground by Friday afternoon.Now, as investors and executives grow more worried about the impact tariffs will have on consumer spending and fret about an administration they had high hopes for just a few months ago, even the strongest companies are striking cautious tones as the weaker ones get even louder. Take Walmart, the retail industry's de facto leader, which has spent the last year turning an uncertain economy into fuel for growth as it courted higher-income consumers. When Walmart announced fiscal fourth-quarter earnings last month, its stock fell after it warned that profit growth would be slower than expected in the year ahead. It was a rare warning sign from a company that tends to thrive in a weaker economy, and an indication that it's expecting consumers to pull back from higher-margin discretionary goods in favor of essentials like milk and paper towels in the year ahead. ""We don't want to get out over our skis here. There's a lot of the year to play out,"" Walmart's finance chief, John David Rainey, told analysts when discussing the company's outlook. ""It's prudent to have an outlook that is somewhat measured.""Ed Bastian, chief executive of Delta Air Lines – the most profitable U.S. carrier that has reaped the rewards of big spenders in recent years – struck a similar tone after it slashed its earnings and revenue forecast for the first quarter. In an interview Monday on CNBC's ""Closing Bell,"" Bastian said that consumer confidence has weakened and that both leisure and business customers have pulled back on bookings, which led it to cut its guidance.""Consumers in a discretionary business do not like uncertainty,"" said Bastian. ""And while we do believe this will be a period of time that we pass through, it is also something that we need to understand and get to calmer waters.""To be sure, it wasn't just fewer people booking trips that led the airline to cut its first-quarter forecast. Questions about air safety compounded the problem after two major airline accidents, including Delta's own crash landing in Toronto, in which no one died.Beyond Delta, rival United said it will retire 21 aircraft early, a move that aims to cut costs.""We have also seen weakness in the demand market,"" United CEO Scott Kirby said at Tuesday's JPMorgan airline industry conference. ""It started with government. Government is 2% of our business. Government adjacent, all the other consultants and contracts that go along with that are probably another 2% to 3%. That's running down about 50% right now. So a pretty material impact in the short term.""The airline has seen some of that dynamic ""bleed over"" into the domestic leisure market, as well, Kirby added. He said the company is already looking at where it will cut flights, eyeing a big drop in traffic from Canada into the U.S. and in markets that were popular with government workers.American Airlines cut its first-quarter earnings forecast and said in addition to demand pressures, bookings were hurt after a deadly midair collision of an Army helicopter with one of its regional jets in Washington, D.C., in January.The company also felt the pullback in government travel and associated trips like those for contractors.""We know that there's some follow-on effect in terms of leisure travel associated with that as well,"" said CEO Robert Isom.Airline executives were upbeat about longer-term demand in 2025, however.Other strong companies, such as Dick's Sporting Goods, E.l.f. Beauty and Abercrombie & Fitch, also issued weak forecasts in recent weeks, though they indicated they were feeling positive about the second half of the year. ""I do think it's just a bit of an uncertain world out there right now,"" Ed Stack, chairman of Dick's Sporting Goods, told CNBC when asked about the company's guidance. ""What's going to happen from a tariff standpoint? You know, if tariffs are put in place and prices rise the way that they might, what's going to happen with the consumer?""Over the last year, companies like United, Walmart and Abercrombie have managed to outperform the S&P 500, even as shoppers reduced discretionary spending, so this change in commentary marks a major shift. It's a warning sign that shoppers could be starting to crack, and that even excellent execution is no match for tariff-induced price increases after four years of historic inflation. Meanwhile, the companies that have already spent the last year calling out uncertain consumer dynamics are sounding even more worried.""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation. Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" the CEO of Dollar General, Todd Vasos, said on the company's fourth-quarter earnings call Thursday, adding customers are expecting value and convenience ""more than ever."" The worsening consumer outlook has compounded the company's own internal challenges.""As we enter 2025,"" Vasos continued. ""We are not anticipating improvement in the macro environment, particularly for our core customer.""Elsewhere in the retail industry, American Eagle on Tuesday warned that cold weather led to a slower-than-expected start to the first quarter, but said it wasn't just temperatures. The apparel retailer specifically called out ""less robust demand"" and said it's taking steps to reduce expenses and manage inventory as it braces for what's still to come. ""[Consumers] have the fear of the unknown. Not just tariffs, not just inflation, we see the government cutting people off. They don't know how that's going to affect them. They see programs being cut, they don't know how that's going to affect them,"" said CEO Jay Schottenstein. ""And when people don't know what they don't know – they get very conservative … it makes everyone a little nervous.""",CNBC,15/03/2025,"[""It's not just Walmart."", 'The leaders of companies that serve everyone from penny-pinching grocery shoppers to first-class travelers are seeing cracks in demand, a shift after resilient consumers propped up the U.S. economy for years despite prolonged inflation.', 'On top of high interest rates and persistent inflation, CEOs are now grappling with how to handle new hurdles like on-again, off-again tariffs, mass government layoffs and worsening consumer sentiment.', 'Across earnings calls and investor presentations in recent weeks, retailers and other consumer-facing businesses warned that first-quarter sales were coming in softer than expected and the rest of the year might be tougher than Wall Street thought.', 'Many of the executives blamed unseasonably cool weather and a ""dynamic"" macroeconomic environment, but the early days of President Donald Trump\'s second term have brought new challenges — perhaps none greater than trying to plan a global business at a time when his administration shifts its trade policies by the hour.', ""Economists largely expect Trump's new tariffs on goods from China, Canada and Mexico will raise prices for consumers and dampen spending at a time when inflation remains higher than the Federal Reserve's target."", 'In February, consumer confidence — which can help to signal how much shoppers are willing to shell out — saw the biggest drop since 2021.', 'A separate consumer sentiment measure for March also came in worse than expected.', 'Another sign of weakness has been in air travel.', ""The sector, especially large international airlines, had been a bright spot following the pandemic, with consumers proving again and again that they wouldn't give up trips even in the face of the biggest jump inflation in more than four decades."", 'This week, however, the CEOs of the four largest U.S. airlines — United, American, Delta and Southwest — said they are seeing a slowdown in demand this quarter.', 'American, Delta and Southwest cut their first-quarter forecasts.', 'Plus, the strong U.S. job market of recent years is showing early signs of stress as job growth slows and unemployment ticks up.', 'These trends have thrown cold water on what was a red-hot stock market and sparked new fears about a potential recession, sending the S&P 500 tumbling 10% from its record highs in February, though it had recovered significant ground by Friday afternoon.', 'Now, as investors and executives grow more worried about the impact tariffs will have on consumer spending and fret about an administration they had high hopes for just a few months ago, even the strongest companies are striking cautious tones as the weaker ones get even louder.', ""Take Walmart, the retail industry's de facto leader, which has spent the last year turning an uncertain economy into fuel for growth as it courted higher-income consumers."", 'When Walmart announced fiscal fourth-quarter earnings last month, its stock fell after it warned that profit growth would be slower than expected in the year ahead.', ""It was a rare warning sign from a company that tends to thrive in a weaker economy, and an indication that it's expecting consumers to pull back from higher-margin discretionary goods in favor of essentials like milk and paper towels in the year ahead."", '""We don\'t want to get out over ourskishere.', 'There\'s a lot of the year to play out,"" Walmart\'s finance chief, John David Rainey, told analysts when discussing the company\'s outlook. ""', ""It'sprudentto have an outlook that is somewhat measured."", '""Ed Bastian, chief executive of Delta Air Lines – the most profitable U.S. carrier that has reaped the rewards of big spenders in recent years – struck a similar tone after it slashed its earnings and revenue forecast for the first quarter.', 'In an interview Monday on CNBC\'s ""Closing Bell,"" Bastian said that consumer confidence has weakened and that both leisure and business customers have pulled back on bookings, which led it to cut its guidance.', '""Consumers in a discretionary business do not like uncertainty,"" said Bastian. ""', 'And while we do believe this will be a period of time that we pass through, it is also something that we need to understand and get to calmer waters.', '""To be sure, it wasn\'t just fewer people booking trips that led the airline to cut its first-quarter forecast.', ""Questions about air safety compounded the problem after two major airline accidents, including Delta's own crash landing in Toronto, in which no one died."", 'Beyond Delta, rival United said it will retire 21 aircraft early, a move that aims to cut costs.', '""We have also seen weakness in the demand market,"" United CEO Scott Kirby saidat Tuesday\'s JPMorgan airline industry conference. ""', 'It started with government.', 'Government is 2% of our business.', 'Government adjacent, all the other consultants and contracts that go along with that are probably another 2% to 3%.', ""That's running down about 50% right now."", 'So a pretty material impact in the short term.', '""The airline has seen some of that dynamic ""bleed over"" into the domestic leisure market, as well, Kirby added.', 'He said the company is already looking at where it will cut flights, eyeing a big drop in traffic from Canada into the U.S. and in markets that were popular with government workers.', 'American Airlines cut its first-quarter earnings forecast and said in addition to demand pressures, bookings were hurt after a deadly midair collision of an Army helicopter with one of its regional jets in Washington, D.C., in January.', 'The company also felt the pullback in government travel and associated trips like those for contractors.', '""We know that there\'s some follow-on effect in terms of leisure travel associated with that as well,"" said CEO Robert Isom.', 'Airline executives were upbeat about longer-term demand in 2025, however.', ""Other strong companies, such as Dick's Sporting Goods, E.l.f."", 'Beauty and Abercrombie & Fitch, also issued weak forecasts in recent weeks, though they indicated they were feeling positive about the second half of the year.', '""I do think it\'s just a bit of an uncertain world out there right now,"" Ed Stack, chairman of Dick\'s Sporting Goods, told CNBC when asked about the company\'s guidance. ""', ""What's going to happen from a tariff standpoint?"", 'You know, if tariffs are put in place and prices rise the way that they might, what\'s going to happen with the consumer?""Over the last year, companies like United, Walmart and Abercrombie have managed to outperform the S&P 500, even as shoppers reduced discretionary spending, so this change in commentary marks a major shift.', ""It's a warning sign that shoppers could be starting to crack, and that even excellent execution is no match for tariff-induced price increases after four years of historic inflation."", 'Meanwhile, the companies that have already spent the last year calling out uncertain consumer dynamics are sounding even more worried.', '""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation.', 'Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" the CEO of Dollar General, Todd Vasos, said on the company\'s fourth-quarter earnings call Thursday, adding customers are expecting value and convenience ""more than ever.', '""The worsening consumer outlook has compounded the company\'s own internal challenges.', '""As we enter 2025,"" Vasos continued. ""', 'We are not anticipating improvement in the macro environment, particularly for our core customer.', '""Elsewhere in the retail industry, American Eagle on Tuesday warned that cold weather led to a slower-than-expected start to the first quarter, but said it wasn\'t just temperatures.', 'The apparel retailer specifically called out ""less robust demand"" and said it\'s taking steps to reduce expenses and manage inventory as it braces for what\'s still to come.', '""[Consumers] have the fear of the unknown.', 'Not just tariffs, not just inflation, we see the government cutting people off.', ""They don't know how that's going to affect them."", 'They see programs being cut, they don\'t know how that\'s going to affect them,"" said CEO Jay Schottenstein. ""', 'And when people don\'t know what they don\'t know – they get very conservative … it makes everyone a little nervous.""']",-0.002404490490382,"Beauty and Abercrombie & Fitch, also issued weak forecasts in recent weeks, though they indicated they were feeling positive about the second half of the year.","Questions about air safety compounded the problem after two major airline accidents, including Delta's own crash landing in Toronto, in which no one died.",-0.437673362188561,"You know, if tariffs are put in place and prices rise the way that they might, what's going to happen with the consumer?""Over the last year, companies like United, Walmart and Abercrombie have managed to outperform the S&P 500, even as shoppers reduced discretionary spending, so this change in commentary marks a major shift.","Across earnings calls and investor presentations in recent weeks, retailers and other consumer-facing businesses warned that first-quarter sales were coming in softer than expected and the rest of the year might be tougher than Wall Street thought.",2025-03-24
+"Klarna, nearing IPO, plucks lucrative Walmart fintech partnership from rival Affirm",https://www.cnbc.com/2025/03/17/walmart-klarna-nearing-ipo-wins-fintech-partnership-from-affirm.html,2025-03-17T21:14:32+0000,"In this articleSwedish fintech firm Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm, CNBC has learned.Klarna, which just disclosed its intention to go public in the U.S., will provide loans to Walmart customers in stores and online through the retailer's majority-owned fintech startup OnePay, according to people with knowledge of the situation who declined to be identified speaking about the partnership.OnePay, which updated its brand name from One this month, will handle the user experience via its app, while Klarna will make underwriting decisions for loans ranging from three months to 36 months in length, and with annual interest rates from 10% to 36%, said the people.The new product will be launched in the coming weeks and will be scaled to all Walmart channels by the holiday season, likely leaving it the retailer's only buy now, pay later option by year-end.The move heightens the rivalry between Affirm and Klarna, two of the world's biggest BNPL players, just as Klarna is set to go public. Although both companies claim to offer a better alternative for borrowers than credit cards, Affirm is more U.S.-centric and has been public since 2021, while Klarna's network is more global.Shares of Affirm dropped 4.2% Monday after falling as much as 14% earlier in the session.The deal comes at an opportune time for Klarna as it readies one of the year's most highly anticipated initial public offerings. After a dearth of big tech listings in the U.S. since 2021, the Klarna IPO will be a key test for the industry. The firm's private market valuation has been a roller coaster: It soared to $46 billion in 2021, then crashed by 85% the next year amid the broader decline of high-flying fintech firms.CEO Sebastian Siemiatkowski has worked to improve Klarna's prospects, including touting its use of generative artificial intelligence to slash expenses and headcount. The company returned to profitability in 2023, and its valuation is now roughly $15 billion, according to analysts, nearly matching the public market value of Affirm.The OnePay deal is a ""game changer"" for Klarna, Siemiatkowski said in a release confirming the pact.""Millions of people in the U.S. shop at Walmart every day — and now they can shop smarter with OnePay installment loans powered by Klarna,"" he said. ""We look forward to helping redefine checkout at the world's largest retailer — both online and in stores.""As part of the deal, OnePay can take a position in Klarna. In its F-1 filing, Klarna said it entered into a ""commercial agreement with a global partner"" in which it is giving warrants to purchase more than 15 million shares for an average price of $34 each. OnePay is the partner, people with knowledge of the deal confirmed.For Affirm, the move is likely to be seen as a blow at a time when tech stocks are particularly vulnerable. Run by CEO Max Levchin, a PayPal co-founder, the company's stock has surged and fallen since its 2021 IPO. The lender's shares have dipped 18% this year before Monday.Affirm executives frequently mention their partnerships with big merchants as a key driver of purchase volumes and customer acquisition. In November, Affirm's chief revenue officer, Wayne Pommen, referred to Walmart and other tie-ups including those with Amazon, Shopify and Target as its ""crown jewel partnerships.""An Affirm spokesman had this statement: ""We win business when merchants want superior performance and maximum value, given our underwriting and capital markets advantages. We will continue our long-term strategy of competing on our products and entering into sustainable partnerships.""The deal is no less consequential to Walmart's OnePay, which has surged to a $2.5 billion pre-money valuation just two years after rolling out a suite of products to its customers.The startup now has more than 3 million active customers and is generating revenue at an annual run rate of more than $200 million.As part of its push to penetrate areas adjacent to its core business, Walmart executives have touted OnePay's potential to become a one-stop shop for Americans underserved by traditional banks.Walmart is the world's largest retailer and says it has 255 million weekly customers, giving the startup — which is a separate company backed by Walmart and Ribbit Capital — a key advantage in acquiring new customers.Last year, the Walmart-backed fintech began offering BNPL loans in the aisles and on checkout pages of Walmart, CNBC reported at the time. That led to speculation that it would ultimately displace Affirm, which had been the exclusive provider for BNPL loans for Walmart since 2019.OnePay's move to partner with Klarna rather than going it alone shows the company saw an advantage in going with a seasoned, at-scale provider versus using its own solution.OnePay's push into consumer lending is expected to accelerate its conversion of Walmart customers into fintech app users. Cash-strapped consumers are increasingly relying on loans to meet their needs, and the installment loan is seen as a wedge to also offer users the banking, savings and payments features that OnePay has already built.Americans held a record $1.21 trillion in credit card debt in the fourth quarter of last year, about $441 billion higher than balances in 2021, according to Federal Reserve Bank of New York data.""It's never been more important to give consumers simple and convenient ways to access fair credit at the point of sale,"" said OnePay CEO Omer Ismail. ""That's especially true for the millions of people who turn to Walmart every week for everything.""Next up is likely a OnePay-branded credit card offered with the help of a new banking partner after Walmart successfully exited its partnership with Capital One.""We're looking forward to going down this new path where not only can they provide installment credit ... but also revolving credit,"" Walmart CFO John David Rainey told investors in June.— CNBC's MacKenzie Sigalos and Melissa Repko contributed to this report.",CNBC,17/03/2025,"['In this articleSwedish fintech firm Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm, CNBC has learned.', ""Klarna, which just disclosed its intention to go public in the U.S., will provide loans to Walmart customers in stores and online through the retailer's majority-owned fintech startup OnePay, according to people with knowledge of the situation who declined to be identified speaking about the partnership."", 'OnePay, which updated its brand name from One this month, will handle the user experience via its app, while Klarna will make underwriting decisions for loans ranging from three months to 36 months in length, and with annual interest rates from 10% to 36%, said the people.', ""The new product will be launched in the coming weeks and will be scaled to all Walmart channels by the holiday season, likely leaving it the retailer's only buy now, pay later option by year-end."", ""The move heightens the rivalry between Affirm and Klarna, two of the world's biggest BNPL players, just as Klarna is set to go public."", ""Although both companies claim to offer a better alternative for borrowers than credit cards, Affirm is more U.S.-centric and has been public since 2021, while Klarna's network is more global."", 'Shares of Affirm dropped 4.2% Monday after falling as much as 14% earlier in the session.', ""The deal comes at an opportune time for Klarna as it readies one of the year's most highly anticipated initial public offerings."", 'After a dearth of big tech listings in the U.S. since 2021, the Klarna IPO will be a key test for the industry.', ""The firm's private market valuation has been a roller coaster: It soared to $46 billion in 2021, then crashed by 85% the next year amid the broader decline of high-flying fintech firms."", ""CEO Sebastian Siemiatkowski has worked to improve Klarna's prospects, including touting its use of generative artificial intelligence to slash expenses and headcount."", 'The company returned to profitability in 2023, and its valuation is now roughly $15 billion, according to analysts, nearly matching the public market value of Affirm.', 'The OnePay deal is a ""game changer"" for Klarna, Siemiatkowski said in a release confirming the pact.', '""Millions of people in the U.S. shop at Walmart every day — and now they can shop smarter with OnePay installment loans powered by Klarna,"" he said. ""', ""We look forward to helping redefine checkout at the world's largest retailer — both online and in stores."", '""As part of the deal, OnePay can take a position in Klarna.', 'In its F-1 filing, Klarna said it entered into a ""commercial agreement with a global partner"" in which it is giving warrants to purchase more than 15 million shares for an average price of $34 each.', 'OnePay is the partner, people with knowledge of the deal confirmed.', 'For Affirm, the move is likely to be seen as a blow at a time when tech stocks are particularly vulnerable.', ""Run by CEO Max Levchin, a PayPal co-founder, the company's stock has surged and fallen since its 2021 IPO."", ""The lender's shares have dipped 18% this year before Monday."", 'Affirm executives frequently mention their partnerships with big merchants as a key driver of purchase volumes and customer acquisition.', 'In November, Affirm\'s chief revenue officer, Wayne Pommen, referred to Walmart and other tie-ups including those with Amazon, Shopify and Target as its ""crown jewel partnerships.', '""An Affirm spokesman had this statement: ""We win business when merchants want superior performance and maximum value, given our underwriting and capital markets advantages.', 'We will continue our long-term strategy of competing on our products and entering into sustainable partnerships.', '""The deal is no less consequential to Walmart\'s OnePay, which has surged to a $2.5 billion pre-money valuation just two years after rolling out a suite of products to its customers.', 'The startup now has more than 3 million active customers and is generating revenue at an annual run rate of more than $200 million.', ""As part of its push to penetrate areas adjacent to its core business, Walmart executives have touted OnePay's potential to become a one-stop shop for Americans underserved by traditional banks."", ""Walmart is the world's largest retailer and says it has 255 million weekly customers, giving the startup — which is a separate company backed by Walmart and Ribbit Capital — a key advantage in acquiring new customers."", 'Last year, the Walmart-backed fintech began offering BNPL loans in the aisles and on checkout pages of Walmart, CNBC reported at the time.', ""That led to speculation that it would ultimately displace Affirm, which had been the exclusive provider for BNPL loans for Walmart since 2019.OnePay's move to partner with Klarna rather than going it alone shows the company saw an advantage in going with a seasoned, at-scale provider versus using its own solution."", ""OnePay's push into consumer lending is expected to accelerate its conversion of Walmart customers into fintech app users."", 'Cash-strapped consumers are increasingly relying on loans to meet their needs, and the installment loan is seen as a wedge to also offer users the banking, savings and payments features that OnePay has already built.', 'Americans held a record $1.21 trillion in credit card debt in the fourth quarter of lastyear, about $441 billion higher than balances in 2021, according to Federal Reserve Bank of New York data.', '""It\'s never been more important to give consumers simple and convenient ways to access fair credit at the point of sale,"" said OnePay CEO Omer Ismail. ""', ""That's especially true for the millions of people who turn to Walmart every week for everything."", '""Next up is likely a OnePay-branded credit card offered with the help of a new banking partner after Walmart successfully exited its partnership with Capital One.', '""We\'re looking forward to going down this new path where not only can they provide installment credit ... but also revolving credit,"" Walmart CFO John David Rainey told investors in June.—', ""CNBC's MacKenzie Sigalos and Melissa Repko contributed to this report.""]",0.2201782648605297,"""An Affirm spokesman had this statement: ""We win business when merchants want superior performance and maximum value, given our underwriting and capital markets advantages.","After a dearth of big tech listings in the U.S. since 2021, the Klarna IPO will be a key test for the industry.",0.250191193819046,"""The deal is no less consequential to Walmart's OnePay, which has surged to a $2.5 billion pre-money valuation just two years after rolling out a suite of products to its customers.",The lender's shares have dipped 18% this year before Monday.,2025-03-23
+Zepbound copycats remain online despite FDA ban,https://www.cnbc.com/2025/03/21/zepbound-copycats-tirzepatide-compounding-online-fda-ban.html,2025-03-22T14:26:26+0000,"This week was supposed to mark the end of compounding pharmacies making copycat versions of Eli Lilly's weight-loss drug Zepbound and its diabetes drug Mounjaro. Online, it doesn't look like much has changed. Popular websites like Amble, EllieMD, Willow and Mochi Health are all still advertising versions of tirzepatide, the active ingredient in Zepbound. Some, like Ivim, have stopped taking new patients.Mochi Health has no plans to stop, and neither do the four pharmacies it uses to supply patients with the medications, said Mochi CEO Myra Ahmad. The company uses a network of about 500 providers to write prescriptions for weight-loss drugs, including compounded versions. It's betting that offering personalized versions of the drugs will keep the company out of the crosshairs. ""It can be different dosing schedules … some patients prefer to go up in dosage much more slowly,"" Ahmad said. ""Some patients like to mix a number of other medications into their compounded formulations, depending on the side effects that they're having. Some patients have side effects with any additives and brand name formulations. Compounding really opens up the door for so much personalization."" Amble, EllieMD and Willow didn't respond to CNBC's request for comment. Compounding is where pharmacies mix ingredients of a drug to create a specialized version for specific patients. Say someone is allergic to a dye in a branded medication or needs a liquid form and the main manufacturer only sells capsules. In that case, the patient can turn to a compounded version.When drugs are in shortage, they can be compounded in larger quantities to help fill the gap. Copycat versions of Lilly's Mounjaro and Zepbound and Novo Nordisk's Wegovy and Ozempic have been widely available in recent years because the U.S. Food and Drug Administration listed the brand versions as being in short supply. That created a booming business for pharmacies compounding the highly popular class of weight loss and diabetes medications called GLP-1s.But late last year, the FDA said all doses of Mounjaro and Zepbound were readily available and took the drug off its shortage list, spelling the end for mass compounding of the drug. After months of legal challenges, the FDA gave smaller pharmacies until early March to stop and larger pharmacies until this week before it started enforcing its rules.The larger facilities aren't allowed to compound tirzepatide at all anymore. Smaller ones aren't supposed to make products that are essentially copies of a commercially available drug, a moniker with some wiggle room. The FDA sees essential copies as those that have a dosage within 10% of the commercially available drug or combine two or more commercially available drugs.Mochi insists all of its prescriptions are personalized, including doses that differ from the standard Zepbound strengths. Other websites like EllieMD are advertising tirzepatide mixed with vitamin B12. Scott Brunner, CEO of the Alliance for Pharmacy Compounding, said formulations or dosage strengths that aren't commercially available aren't considered a copy. However, combining two drugs into one — like adding vitamin B6 or B12 — would be considered a copy under a strict reading of FDA guidance. But tweaking the dosage and adding in other commercially available drugs wouldn't be considered an essential copy, he added.""FDA guidance are pretty clear about what is and is not a copy,"" Brunner said. ""And I would say any compounding pharmacy or outsourcing facility that continues to prepare copies of tirzepatide injection after today are putting themselves in a certain amount of legal risks."" John Herr, pharmacist and owner of Town & Country Compounding Pharmacy, stopped compounding tirzepatide earlier this month. He didn't want to take the risk even though his 300 to 400 patients on it have been calling nonstop to complain about losing access.Town & Country, based in Ramsey, New Jersey, was charging patients about $200 a month — about one-fifth the list price for Zepbound and less than half the price Lilly charges self-paying patients. What happens next is an open question. Enforcing the ban on mass compounding of tirzepatide mostly falls to the FDA. The agency didn't immediately respond to CNBC's request for comment.Lilly can try to sue companies that continue, but it hasn't had much luck in the past. A Florida judge last year dismissed one of Lilly's cases, saying the company was trying to enforce a law that only the FDA can. Ahmad, the CEO of Mochi, said she isn't worried about Lilly taking legal action against her providers. The way she sees it, they have established patient-physician relationships with the autonomy to decide how best to manage their patients.The next two months will be informative. Mass compounding of semaglutide — the active ingredient in Novo Nordisk's Ozempic and Wegovy — needs to stop by the end of May, according to the FDA.Hims & Hers Health has already said it will stop selling commercially available doses of semaglutide when the time comes. Customers who have a personalized dosing regimen will be able to continue without any change, the company added. — CNBC's Leanne Miller contributed to this reportClarification: This story has been updated to clarify Scott Brunner's comments.",CNBC,22/03/2025,"[""This week was supposed to mark the end of compounding pharmacies making copycat versions of Eli Lilly's weight-loss drug Zepbound and its diabetes drug Mounjaro."", ""Online, it doesn't look like much has changed."", 'Popular websites like Amble, EllieMD, Willow and Mochi Health are all still advertising versions of tirzepatide, the active ingredient in Zepbound.', 'Some, like Ivim, have stopped taking new patients.', 'Mochi Health has no plans to stop, and neither do the four pharmacies it uses to supply patients with the medications, said Mochi CEO Myra Ahmad.', 'The company uses a network of about 500 providers to write prescriptions for weight-loss drugs, including compounded versions.', ""It's betting that offering personalized versions of the drugs will keep the company out of the crosshairs."", '""It can be different dosing schedules … some patients prefer to go up in dosage much more slowly,"" Ahmad said. ""', ""Some patients like to mix a number of other medications into their compounded formulations, depending on the side effects that they're having."", 'Some patients have side effects with any additives and brand name formulations.', 'Compounding really opens up the door for so much personalization.', '""Amble, EllieMD and Willow didn\'t respond to CNBC\'s request for comment.', 'Compounding is where pharmacies mix ingredients of a drug to create a specialized version for specific patients.', 'Say someone is allergic to a dye in a branded medication or needs a liquid form and the main manufacturer only sells capsules.', 'In that case, the patient can turn to a compounded version.', 'When drugs are in shortage, they can be compounded in larger quantities to help fill the gap.', ""Copycat versions of Lilly's Mounjaro and Zepbound and Novo Nordisk's Wegovy and Ozempic have been widely available in recent years because the U.S. Food and Drug Administration listed the brand versions as being in short supply."", 'That created a booming business for pharmacies compounding the highly popular class of weight loss and diabetes medications called GLP-1s.', 'But late last year, the FDA said all doses of Mounjaro and Zepbound were readily available and took the drug off its shortage list, spelling the end for mass compounding of the drug.', 'After months of legal challenges, the FDA gave smaller pharmacies until early March to stop and larger pharmacies until this week before it started enforcing its rules.', ""The larger facilities aren't allowed to compound tirzepatide at all anymore."", ""Smaller ones aren't supposed to make products that are essentially copies of a commercially available drug, a moniker with some wiggle room."", 'The FDA sees essential copies as those that have a dosage within 10% of the commercially available drug or combine two or more commercially available drugs.', 'Mochi insists all of its prescriptions are personalized, including doses that differ from the standard Zepbound strengths.', ""Other websites like EllieMD are advertising tirzepatide mixed with vitamin B12.Scott Brunner, CEO of the Alliance for Pharmacy Compounding, said formulations or dosage strengths that aren't commercially available aren't considered a copy."", 'However, combining two drugs into one — like adding vitamin B6 or B12 — would be considered a copy under a strict reading of FDA guidance.', ""But tweaking the dosage and adding in other commercially available drugs wouldn'tbe considered an essential copy, he added."", '""FDA guidance are pretty clear about what is and is not a copy,"" Brunner said. ""', 'And I would say any compounding pharmacy or outsourcing facility that continues to prepare copies of tirzepatide injection after today are putting themselves in a certain amount of legal risks.', '""John Herr, pharmacist and owner of Town & Country Compounding Pharmacy, stopped compounding tirzepatide earlier this month.', ""He didn't want to take the risk even though his 300 to 400 patients on it have been calling nonstop to complain about losing access."", 'Town & Country, based in Ramsey, New Jersey, was charging patients about $200 a month — about one-fifth the list price for Zepbound and less than half the price Lilly charges self-paying patients.', 'What happens next is an open question.', 'Enforcing the ban on mass compounding of tirzepatide mostly falls to the FDA.', ""The agency didn't immediately respond to CNBC's request for comment."", ""Lilly can try to sue companies that continue, but it hasn't had much luck in the past."", ""A Florida judge last year dismissed one of Lilly's cases, saying the company was trying to enforce a law that only the FDA can."", ""Ahmad, the CEO of Mochi, said she isn't worried about Lilly taking legal action against her providers."", 'The way she sees it, they have established patient-physician relationships with the autonomy to decide how best to manage their patients.', 'The next two months will be informative.', ""Mass compounding of semaglutide — the active ingredient in Novo Nordisk's Ozempic and Wegovy — needs to stop by the end of May, according to the FDA.Hims & Hers Health has already said it will stop selling commercially available doses of semaglutide when the time comes."", 'Customers who have a personalized dosing regimen will be able to continue without any change, the company added.—', ""CNBC's Leanne Miller contributed to this reportClarification: This story has been updated to clarify Scott Brunner's comments.""]",0.0547534251122153,"Popular websites like Amble, EllieMD, Willow and Mochi Health are all still advertising versions of tirzepatide, the active ingredient in Zepbound.",He didn't want to take the risk even though his 300 to 400 patients on it have been calling nonstop to complain about losing access.,0.9512409269809724,That created a booming business for pharmacies compounding the highly popular class of weight loss and diabetes medications called GLP-1s.,,2025-03-23
+"Boeing shares jump after CFO gives upbeat outlook, says cash burn is easing",https://www.cnbc.com/2025/03/19/boeing-shares-jump-as-cfo-says-plane-makers-cash-burn-is-easing.html,2025-03-19T20:41:52+0000,"In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises.Boeing shares ended the day nearly 7% higher after CFO Brian West's upbeat comments, leading the Dow Jones Industrial Average and S&P 500 higher.""We think we're off to a good start for the year,"" West said at a Bank of America investor conference. He said cash burn improvement could be in the ""hundreds of millions"" of dollars.Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems. Boeing last posted an annual profit in 2018.West said the massive fire at a Pennsylvania aviation fastener factory in February won't have a near-term production impact or affect Boeing's goal to get monthly output to 38 737 Max aircraft a month and seven 787 Dreamliners because of its elevated inventory.The FAA last year barred Boeing from ramping production up beyond 38 Max planes a month following the January 2024 midair blow out of a door plug on a passenger jet. New Transportation Secretary Sean Duffy said the cap remains in place, following a visit to Boeing's 737 Max factory in Renton, Washington, last week.Boeing is still working up to its capped production rate.West also brushed off immediate concerns about President Donald Trump's proposed tariffs, but said any impact depends on how long the uncertainty lasts.",CNBC,19/03/2025,"[""In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises."", ""Boeing shares ended the day nearly 7% higher after CFO Brian West's upbeat comments, leading the Dow Jones Industrial Average and S&P 500 higher."", '""We think we\'re off to a good start for the year,"" West said at a Bank of America investor conference.', 'He said cash burn improvement could be in the ""hundreds of millions"" of dollars.', 'Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems.', ""Boeing last posted an annual profit in 2018.West said the massive fire at a Pennsylvania aviation fastener factory in February won't have a near-term production impact or affect Boeing's goal to get monthly output to 38 737 Max aircraft a month and seven 787 Dreamliners because of its elevated inventory."", 'The FAA last year barred Boeing from ramping production up beyond 38 Max planes a month following the January 2024 midair blow out of a door plug on a passenger jet.', ""New Transportation Secretary Sean Duffy said the cap remains in place, following a visit to Boeing's 737 Max factory in Renton, Washington, last week."", 'Boeing is still working up to its capped production rate.', ""West also brushed off immediate concerns about President Donald Trump's proposed tariffs, but said any impact depends on how long the uncertainty lasts.""]",0.0930748581058197,"In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises.","Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems.",0.2584757134318352,"In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises.","Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems.",2025-03-23
+Frontier Airlines offers free checked bags promotion in swipe at Southwest,https://www.cnbc.com/2025/03/18/frontier-airlines-free-checked-bags-promo-southwest.html,2025-03-18T17:13:26+0000,"In this articleFrontier Airlines took a swipe at Southwest Airlines' plan to start charging for seat assignments and checked luggage by doing the opposite.Budget carrier Frontier said customers can receive a bundle that includes a seat assignment and a carry-on bag without an upcharge if they book Tuesday through March 24 for travel through Aug. 18. The promotion applies for nonstop trips booked on Frontier's website or app.For flights departing May 28 through Aug. 18, Frontier said it would include a free checked bag, if booked with promo code FREEBAG.The change comes a week after Southwest shocked customers by announcing, starting May 28, it will get rid of its long-standing policy of allowing customers to check two bags for free. Southwest was an outlier with that policy among airlines, and executives there had repeatedly said they didn't plan to change it.""We've always had heart,"" CEO Barry Biffle said in a news release, an apparent swipe at its rival. Southwest, whose home airport is Dallas Love Field, has a love-and-hearts motif as part of its branding and its stock ticker is LUV. ""Some airlines are walking away from what travelers love, but we're running towards it. Think of this as the ultimate 'divorce old airline' deal. If travelers show us the love, we'll make these perks permanent.""Frontier and fellow discount airline Spirit Airlines have been offering fare bundles and easing some of their stricter policies, like on change fees, to attract more customers. Meanwhile, larger carriers like Delta, American, United and most recently, Southwest, have been adopting a la carte fees and no-frills ticket options that the budget carriers have long offered.Southwest brushed off Frontier's latest promotion and highlighted its larger network.""You don't need a promo code to avoid change fees, cancellation fees, view in-flight entertainment or bring along two carry-on items on Southwest,"" Southwest said in a statement. ""We look forward to serving the new Customers attracted to fare above all else, as well as rewarding our most-loyal Customers in our unmatched network connecting more than 850 nonstop city pairs at 117 airports across the United States and 10 international countries.""As part of the changes unveiled last week, Southwest also said it would launch basic economy tickets that don't allow for changes.Last week, executives at United, Delta and Spirit said Southwest's policy changes could be good for their carriers. Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.",CNBC,18/03/2025,"[""In this articleFrontier Airlines took a swipe at Southwest Airlines' plan to start charging for seat assignments and checked luggage by doing the opposite."", ""Budget carrier Frontier said customerscan receive a bundle that includes a seat assignment and a carry-on bag without an upcharge if they book Tuesday through March 24 for travel through Aug. 18.The promotion applies for nonstop trips booked on Frontier's website or app."", 'For flights departing May 28 through Aug. 18, Frontier said it would include a free checked bag, if booked with promo code FREEBAG.The change comes a week after Southwest shocked customers by announcing, starting May 28, it will get rid of its long-standing policy of allowing customers to check two bags for free.', ""Southwest was an outlier with that policy among airlines, and executives there had repeatedly said they didn't plan to change it."", '""We\'ve always had heart,"" CEO Barry Biffle said in a news release, an apparent swipe at its rival.', 'Southwest, whose home airport is Dallas Love Field, has a love-and-hearts motif as part of its branding and its stock ticker is LUV. ""', ""Some airlines are walking away from what travelers love, but we're running towards it."", ""Think of this as the ultimate 'divorce old airline' deal."", ""If travelers show us the love, we'll make these perks permanent."", '""Frontier and fellow discount airline Spirit Airlines have been offering fare bundles and easing some of their stricter policies, like on change fees, to attract more customers.', 'Meanwhile, larger carriers like Delta, American, United and most recently, Southwest, have been adopting a la carte fees and no-frills ticket options that the budget carriers have long offered.', ""Southwest brushed off Frontier's latest promotion and highlighted its larger network."", '""You don\'t need a promo code to avoid change fees, cancellation fees, view in-flight entertainment or bring along two carry-on items on Southwest,"" Southwest said in a statement. ""', 'We look forward to serving the new Customers attracted to fare above all else, as well as rewarding our most-loyal Customers in our unmatched network connecting more than 850 nonstop city pairs at 117 airports across the United States and 10 international countries.', '""As part of the changes unveiled last week, Southwest also said it would launch basic economy tickets that don\'t allow for changes.', ""Last week, executives at United, Delta and Spirit said Southwest's policy changes could be good for their carriers."", 'Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.']",0.3200498443656357,"We look forward to serving the new Customers attracted to fare above all else, as well as rewarding our most-loyal Customers in our unmatched network connecting more than 850 nonstop city pairs at 117 airports across the United States and 10 international countries.",Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.,0.4998854845762253,"Last week, executives at United, Delta and Spirit said Southwest's policy changes could be good for their carriers.",Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.,2025-03-23
+"Nike expects sales will plunge in current quarter as it faces tariffs, sliding consumer confidence",https://www.cnbc.com/2025/03/20/nike-nke-q3-2025-earnings.html,2025-03-21T14:12:10+0000,"In this articleNike on Thursday warned that sales will drop by a double digit percentage in its current quarter as the sneaker giant contends with new tariffs, sliding consumer confidence and a slower than expected turnaround.In a conference call with analysts, finance chief Matt Friend said Nike expects its sales decline in the fiscal fourth quarter, which is set to end in May, to be at the ""low end"" of the ""mid-teens range."" It also anticipates its gross margin will fall between 4 and 5 percentage points as it ramps up efforts to liquidate excess inventory and stale styles that are no longer resonating with consumers — a process it expects to continue into fiscal 2026.""We believe that the fourth quarter will reflect the largest impact from our ... actions, and that the headwinds to revenue and gross margin will begin to moderate from there,"" said Friend. ""We are also navigating through several external factors that create uncertainty in the current operating environment, including geopolitical dynamics, new tariffs, volatile foreign exchange rates and tax regulations, as well as the impact of this uncertainty and other macro factors on consumer confidence.""The guidance is far worse than analysts had expected. Consensus estimates from LSEG show Wall Street had expected sales to be down 11.4% in the current quarter.Shares fell more than 4% in extended trading and are down more than 5% year to date, as of Thursday's close.Beyond guidance, Nike beat Wall Street's expectations in its fiscal third quarter.Here's how the company performed during the quarter, compared with estimates from analysts polled by LSEG:The company's reported net income for the three-month period that ended Feb. 28 was $794 million, or 54 cents per share, compared with $1.17 billion, or 77 cents per share, a year earlier.Sales dropped to $11.27 billion, down about 9% from $12.4 billion a year earlier. Like other retailers, Nike saw strong demand in December followed by ""double digit"" declines in January and February. While Nike delivered a strong earnings beat, expectations were low headed into the release and profits fell 32% from the year-ago period.During the quarter, Nike's gross margin fell by 3.3 percentage points to 41.5%, lower than expectations of 41.8%, according to StreetAccount. That's largely because of the costs associated with Nike's efforts to clear out old inventory in favor of new, innovative styles. In a press release, the company attributed its drop in gross margin to ""higher discounts, higher inventory obsolescence reserves, higher product costs and changes in channel mix.""Meanwhile, sales were down 9%, driven by weakness in China. During the quarter, sales fell 17% in the key region to $1.73 billion, falling short of expectations of $1.84 billion, according to StreetAccount. ""I spent some time over there in December. I hadn't been over there in a while. The competition is a bit more aggressive than what I remembered,"" CEO Elliott Hill, who left Nike in 2020 and returned last year, told analysts. ""So we've just got to accelerate our pace.""Thursday's release comes about five months into Hill's tenure as CEO and his efforts to turn around the business and get it back to growth. He has focused on winning back wholesale partners, reigniting innovation and wooing back athletes that have fled to new competitors, but the work has not yet yielded results.""I'll start by saying I'm proud of the progress we made against the key actions we committed to 90 days ago. While we met the expectations we set, we're not satisfied with our overall results,"" Hill told analysts. ""We can and will be better.""During the quarter, sales on Nike's direct channels dropped 12% to $4.7 billion. Wholesale revenue fell 7% to $6.2 billion.Plus, since Hill took over, the company is now contending with a new set of dynamics that could make its comeback even harder to execute.In the three months since Nike last reported earnings, President Donald Trump has put a new 20% tariff on goods imported from China, consumer sentiment has fallen, and retail sales in both January and February were weaker than expected.Out of the hundreds of suppliers and manufacturers that Nike works with, about 24% of them are located in China, according to a manufacturing disclosure published in January. If the retailer doesn't raise prices to offset tariffs and can't push the cost entirely on to suppliers, Nike's margins are expected to take a hit from the new duties. On Thursday's call, Nike didn't say whether it would raise prices or how exactly the new duties would affect margins.Further, when consumers aren't feeling confident and cutting back on spending, discretionary products like new clothes and shoes are one of the first things they cut out in favor of necessities. Over the last few years, the overall sneaker and apparel markets have been slow because consumers have cut back on clothes and shoes. But up until recently, strong companies were still performing well and taking market share from weaker competitors.However, that trend began to shift over the last few weeks when even the strongest of companies started to sound the alarm about soft consumer spending when they reported first-quarter earnings, raising questions about the health of the economy.During the quarter, sales in North America — Nike's largest market — fell 4% to $4.86 billion. Still, revenue in the region came in better than the $4.53 billion analysts had expected, according to StreetAccount.Nike is widely expected to reclaim the market share it lost and reset its business, and some insiders say the company's problems have been overblown. Even so, the tariffs and economic fears could mean that the retailer's turnaround could take longer, and be more difficult, than expected.What's key to Nike's turnaround plan is its ability to reignite innovation and create the type of industry-leading shoes and apparel that have long made it the market leader. During a call with analysts, Hill said early releases for the company's new Pegasus Premium ""nearly sold out"" across North America and will scale through fall 2025. Its Romero 18, created for the everyday runner, has seen ""outstanding"" results, and Nike plans to double distribution by mid-April.""It will take time to reach the volume to replace the handful of classic franchises we over-indexed on, but our approach is simple,"" said Hill. ""Help consumers fall in love with something new from Nike, and that something is not replacing one icon for another.""Nike has already made strides in its efforts to grow its female consumer base, another key component to boosting revenue and apparel sales. Last month, it announced it was teaming up with Kim Kardashian's intimates brand Skims to create a new product line dubbed NikeSKIMS that will include apparel, footwear and accessories. The buzzy partnership is expected to give Nike improved inroads with women and allow it to better compete with Lululemon, Alo Yoga and Vuori, which cater more to women than Nike currently does.Further, Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades. The campaign showed that reaching female athletes and capturing the buzz around women's sports will be a center point of Hill's strategy.If Nike can continue to show positive signs from new product launches and partnerships, the rest of its headwinds might just be drowned out as noise.",CNBC,21/03/2025,"['In this articleNike on Thursday warned that sales will drop by a double digit percentage in its current quarter as the sneaker giant contends with new tariffs, sliding consumer confidence and a slower than expected turnaround.', 'In a conference call with analysts, finance chief Matt Friend said Nike expects its sales decline in the fiscal fourth quarter, which is set to end in May, to be at the ""low end"" of the ""mid-teens range.""', 'It also anticipates its gross margin will fall between 4 and 5 percentage points as it ramps up efforts to liquidate excess inventory and stale styles that are no longer resonating with consumers — a process it expects to continue into fiscal 2026.""We believe that the fourth quarter will reflect the largest impact from our ... actions, and that the headwinds to revenue and gross margin will begin to moderate from there,"" said Friend. ""', 'We are also navigating through several external factors that create uncertainty in the current operating environment, including geopolitical dynamics, new tariffs, volatile foreign exchange rates and tax regulations, as well as the impact of this uncertainty and other macro factors on consumer confidence.', '""The guidance is far worse than analysts had expected.', 'Consensus estimates from LSEG show Wall Street had expected sales to be down 11.4% in the current quarter.', ""Shares fell more than 4% in extended trading and are down more than 5% year to date, as of Thursday's close."", ""Beyond guidance, Nike beat Wall Street's expectations in its fiscal third quarter."", ""Here's how the company performed during the quarter, compared with estimates from analysts polled by LSEG:The company's reported net income for the three-month period that ended Feb. 28 was $794 million, or 54 cents per share, compared with $1.17 billion, or 77 cents per share, a year earlier."", 'Sales dropped to $11.27 billion, down about 9% from $12.4 billion a year earlier.', 'Like other retailers, Nike saw strong demand in December followed by ""double digit"" declines in January and February.', 'While Nike delivered a strong earnings beat, expectations were low headed into the release and profits fell 32% from the year-ago period.', ""During the quarter, Nike's gross margin fell by 3.3 percentage points to 41.5%, lower than expectations of 41.8%, according to StreetAccount."", ""That's largely because of the costs associated with Nike's efforts to clear out old inventory in favor of new, innovative styles."", 'In a press release, the company attributed its drop in gross margin to ""higher discounts, higher inventory obsolescence reserves, higher product costs and changes in channel mix.', '""Meanwhile, sales were down 9%, driven by weakness in China.', 'During the quarter, sales fell 17% in the key region to $1.73 billion, falling short of expectations of $1.84 billion, according to StreetAccount.', '""I spent some time over there in December.', ""I hadn't been over there in a while."", 'The competition is a bit more aggressive than what I remembered,"" CEO Elliott Hill, who left Nike in 2020 and returned last year, told analysts. ""', ""So we've just got to accelerate our pace."", '""Thursday\'s release comes about five months into Hill\'s tenure as CEO and his efforts to turn around the business and get it back to growth.', 'He has focused on winning back wholesale partners, reigniting innovation and wooing back athletes that have fled to new competitors, but the work has not yet yielded results.', '""I\'ll start by saying I\'m proud of the progress we made against the key actions we committed to 90 days ago.', 'While we met the expectations we set, we\'re not satisfied with our overall results,"" Hill told analysts. ""', 'We can and will be better.', '""During the quarter, sales on Nike\'s direct channels dropped 12% to $4.7 billion.', 'Wholesale revenue fell 7% to $6.2 billion.', 'Plus, since Hill took over, the company is now contending with a new set of dynamics that could make its comeback even harder to execute.', 'In the three months since Nike last reported earnings, President Donald Trump has put a new 20% tariff on goods imported from China, consumer sentiment has fallen, and retail sales in both January and February were weaker than expected.', 'Out of the hundreds of suppliers and manufacturers that Nike works with, about 24% of them are located in China, according to a manufacturing disclosure published in January.', ""If the retailer doesn't raise prices to offset tariffs and can't push the cost entirely on to suppliers, Nike's margins are expected to take a hit from the new duties."", ""On Thursday's call, Nike didn't say whether it would raise prices or how exactly the new duties would affect margins."", ""Further, when consumers aren't feeling confident and cutting back on spending, discretionary products like new clothes and shoes are one of the first things they cut out in favor of necessities."", 'Over the last few years, the overall sneaker and apparel markets have been slow because consumers have cut back on clothes and shoes.', 'But up until recently, strong companies were still performing well and taking market share from weaker competitors.', 'However, that trend began to shift over the last few weeks when even the strongest of companies started to sound the alarm about soft consumer spending when they reported first-quarter earnings, raising questions about the health of the economy.', ""During the quarter, sales in North America — Nike's largest market — fell 4% to $4.86 billion."", 'Still, revenue in the region came in better than the $4.53 billion analysts had expected, according to StreetAccount.', ""Nike is widely expected to reclaim the market share it lost and reset its business, and some insiders say the company's problems have been overblown."", ""Even so, the tariffs and economic fears could mean that the retailer's turnaround could take longer, and be more difficult, than expected."", ""What's key to Nike's turnaround plan is its ability to reignite innovation and create the type of industry-leading shoes and apparel that have long made it the market leader."", 'During a call with analysts, Hill said early releases for the company\'s new Pegasus Premium ""nearly sold out"" across North America and will scale through fall 2025.', 'Its Romero 18, created for the everyday runner, has seen ""outstanding"" results, and Nike plans to double distribution by mid-April.', '""It will take time to reach the volume to replace the handful of classic franchises we over-indexed on, but our approach is simple,"" said Hill. ""', 'Help consumers fall in love with something new from Nike, and that something is not replacing one icon for another.', '""Nike has already made strides in its efforts to grow its female consumer base, another key component to boosting revenue and apparel sales.', ""Last month, it announced it was teaming up with Kim Kardashian's intimates brand Skims to create a new product line dubbed NikeSKIMS that will include apparel, footwear and accessories."", 'The buzzy partnership is expected to give Nike improved inroads with women and allow it to better compete with Lululemon, Alo Yoga and Vuori, which cater more to women than Nike currently does.', 'Further, Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades.', ""The campaign showed that reaching female athletes and capturing the buzz around women's sports will be a center point of Hill's strategy."", 'If Nike can continue to show positive signs from new product launches and partnerships, the rest of its headwinds might just be drowned out as noise.']",0.1362983811031821,"That's largely because of the costs associated with Nike's efforts to clear out old inventory in favor of new, innovative styles.","Even so, the tariffs and economic fears could mean that the retailer's turnaround could take longer, and be more difficult, than expected.",-0.1913316814522994,"Still, revenue in the region came in better than the $4.53 billion analysts had expected, according to StreetAccount.","While Nike delivered a strong earnings beat, expectations were low headed into the release and profits fell 32% from the year-ago period.",2025-03-23
+Edible Arrangements' parent company is launching a marketplace for the other kind of edibles,https://www.cnbc.com/2025/03/20/edible-arrangements-parent-launches-hemp-marketplace-ediblescom.html,2025-03-20T19:16:25+0000,"The parent company of Edible Arrangements is moving into a different kind of edible.Edible Brands is launching Edibles.com, an e-commerce marketplace for hemp products, such as Cann drinks and Wana gummies.The 2018 Farm Bill legalized hemp, which is legally defined as a plant that contains 0.3% or less tetrahydrocannabinol, or THC, the primary intoxicant in cannabis. The federal law paved the way for companies to sell products with THC derived from hemp rather than marijuana across most states, even if those areas haven't legalized marijuana.A handful of states, like Connecticut, have placed restrictions on how much THC a hemp product can contain. But in much of the country, hemp legalization has led to a veritable Wild West.""There's a lot of demand for hemp products out there right now, but what people are looking for is that safe and trusted place to buy it,"" Edible Brands CEO Somia Farid Silber told CNBC.The website launches Friday, starting with Texas. The company is planning to roll out the platform nationwide quickly, with Florida, Georgia and other Southeastern markets following soon after Texas.Edibles.com also has a lease for a brick-and-mortar location in Inman Park in Atlanta and said it plans to add physical locations in other states as well.""This is a defining moment for the hemp industry,"" Cann CEO and co-founder Jake Bullock said in a statement. ""A trusted, high-quality marketplace like Edibles.com has the power to reshape the future of THC products and drive the long-term industry growth we've all been working toward.""As a private company, Edible Brands does not have to disclose its quarterly financial results. The business, best known for its fruit baskets inspired by floral bouquets, had nearly 800 locations as of the end of 2023.While cannabis remains illegal at the federal level, 24 states have legalized it for recreational use. Legal retail sales were projected to surpass $32 billion in 2024, with roughly 14% — or $4.5 billion — coming from edibles, according to a study from cannabis-focused software company Leaflink.Silber said the idea of selling edibles has been percolating ""for a while.""A year ago, the company acquired the edibles.com domain name after settling a yearslong lawsuit against World Media Group for ""cybersquatting,"" or registering a well-known domain name in the hope of reselling it for a profit.By July, Edible Brands hired cannabis executive Thomas Winstanley as executive vice president of Edibles.com. And in October, Silber took the reins as CEO after eight years at the company.""We positioned it as a way to be able to create that connection for people who may be looking for permission to try these things, who have been hearing about them,"" Winstanley said. ""But it's different when you walk in and see these products at a gas station, instead of seeing a collection of the nation's leading products.""For one, the dosage of Edibles.com's offerings hover around five milligrams per serving, according to Winstanley. The dose is considered on the low end; Colorado, for example, caps edible cannabis products at 10 milligrams of THC per serving.Plus, when selecting its suppliers, the company stuck with companies that are well known in the hemp and cannabis industries in order to increase trust in the platform. In addition to Cann and Wana, brands sold on Edibles.com include Cantrip and 1906.Those suppliers went through a tough compliance audit and questioning to make sure their production and sourcing were above board, Winstanley said.And it isn't just suppliers who have to worry about compliance.Edibles.com will fulfill its online orders using its existing franchise system. The Edible Arrangements franchisees who participate will allow the nascent business to offer same-day or next-day delivery, just like it does with its fruit baskets or chocolate-dipped strawberries.""With our franchise network that we have today, we can cover 70% of households in the U.S. within an hour,"" Silber said.Edibles.com has done ""extensive"" compliance and background checks to make sure that the operators involved understand the requirements of delivering its edibles, according to Winstanley.Select products will also be available for nationwide shipping even before Edibles.com expands to other markets.Ahead of the official launch, Edible Brands is already looking to the future, with bold expansion plans.Its future slate could include making its own edibles, Winstanley said: ""That's another extension that we're actively working on in real time.""Less likely is a collaboration between Edibles.com and its sister company. However, Silber said that the initial marketing will play into long-running questions from Edible Arrangements customers about why the company doesn't sell the other kind of edibles.",CNBC,20/03/2025,"['The parent company of Edible Arrangements is moving into a different kind of edible.', 'Edible Brands is launching Edibles.com, an e-commerce marketplace for hemp products, such as Cann drinks and Wana gummies.', 'The 2018 Farm Bill legalized hemp, which is legally defined as a plant that contains 0.3% or less tetrahydrocannabinol, or THC, the primary intoxicant in cannabis.', ""The federal law paved the way for companies to sell products with THC derived from hemp rather than marijuana across most states, even if those areas haven't legalized marijuana."", 'A handful of states, like Connecticut, have placed restrictions on how much THC a hemp product can contain.', 'But in much of the country, hemp legalization has led to a veritable Wild West.', '""There\'s a lot of demand for hemp products out there right now, but what people are looking for is that safe and trusted place to buy it,"" Edible Brands CEO Somia Farid Silber told CNBC.The website launches Friday, starting with Texas.', 'The company is planning to roll out the platform nationwide quickly, with Florida, Georgia and other Southeastern markets following soon after Texas.Edibles.com also has a lease for a brick-and-mortar location in Inman Park in Atlanta and said it plans to add physical locations in other states as well.', '""This is a defining moment for the hemp industry,"" Cann CEO and co-founder Jake Bullock said in a statement. ""', ""A trusted, high-quality marketplace like Edibles.com has the power to reshape the future of THC products and drive the long-term industry growth we've all been working toward."", '""As a private company, Edible Brands does not have to disclose its quarterly financial results.', 'The business, best known for its fruit baskets inspired by floral bouquets, had nearly 800 locations as of the end of 2023.While cannabis remains illegal at the federal level, 24 states have legalized it for recreational use.', 'Legal retail sales were projected to surpass $32 billion in 2024, with roughly 14% — or $4.5 billion — coming from edibles, according to a study from cannabis-focused software company Leaflink.', 'Silber said the idea of selling edibles has been percolating ""for a while.', '""A year ago, the company acquired the edibles.com domain name after settling a yearslong lawsuit against World Media Group for ""cybersquatting,"" or registering a well-known domain name in the hope of reselling it for a profit.', 'By July, Edible Brands hired cannabis executive Thomas Winstanley as executive vice president of Edibles.com.', 'And in October, Silber took the reins as CEO after eight years at the company.', '""We positioned it as a way to be able to create that connection for people who may be looking for permission to try these things, who have been hearing about them,"" Winstanley said. ""', ""But it's different when you walk in and see these products at a gas station, instead of seeing a collection of the nation's leading products."", '""For one, the dosage of Edibles.com\'s offerings hover around five milligrams per serving, according to Winstanley.', 'The dose is considered on the low end; Colorado, for example, caps edible cannabis products at 10 milligrams of THC per serving.', 'Plus, when selecting its suppliers, the company stuck with companies that are well known in the hemp and cannabis industries in order to increase trust in the platform.', 'In addition to Cann and Wana, brands sold on Edibles.com include Cantrip and 1906.Those suppliers went through a tough compliance audit and questioning to make sure their production and sourcing were above board, Winstanley said.', ""And it isn't just suppliers who have to worry about compliance.Edibles.com will fulfill its online orders using its existing franchise system."", 'The Edible Arrangements franchisees who participate will allow the nascent business to offer same-day or next-day delivery, just like it does with its fruit baskets or chocolate-dipped strawberries.', '""With our franchise network that we have today, we can cover 70% of households in the U.S. within an hour,"" Silber said.Edibles.com has done ""extensive"" compliance and background checks to make sure that the operators involved understand the requirements of delivering its edibles, according to Winstanley.', 'Select products will also be available for nationwide shipping even before Edibles.com expands to other markets.', 'Ahead of the official launch, Edible Brands is already looking to the future, with bold expansion plans.', 'Its future slate could include making its own edibles, Winstanley said: ""That\'s another extension that we\'re actively working on in real time.', '""Less likely is a collaboration between Edibles.com and its sister company.', ""However, Silber said that the initial marketing will play into long-running questions from Edible Arrangements customers about why the company doesn't sell the other kind of edibles.""]",0.2521863036793272,"""There's a lot of demand for hemp products out there right now, but what people are looking for is that safe and trusted place to buy it,"" Edible Brands CEO Somia Farid Silber told CNBC.The website launches Friday, starting with Texas.","The dose is considered on the low end; Colorado, for example, caps edible cannabis products at 10 milligrams of THC per serving.",0.6633716651371547,"Legal retail sales were projected to surpass $32 billion in 2024, with roughly 14% — or $4.5 billion — coming from edibles, according to a study from cannabis-focused software company Leaflink.","In addition to Cann and Wana, brands sold on Edibles.com include Cantrip and 1906.Those suppliers went through a tough compliance audit and questioning to make sure their production and sourcing were above board, Winstanley said.",2025-03-23
+"Darden Restaurants sales disappoint, but Olive Garden parent sees consumers continuing to spend",https://www.cnbc.com/2025/03/20/darden-restaurants-dri-q3-2025-earnings.html,2025-03-20T20:45:10+0000,"In this articleDarden Restaurants on Thursday reported weaker-than-expected sales as Olive Garden and LongHorn Steakhouse underperformed analysts' projections.The restaurant company blamed weather for the sales slowdown and maintained its full-year forecast, lifting investors' confidence that the rough quarter was a blip.Darden shares rose 5% Thursday.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Darden reported fiscal third-quarter net income of $323.4 million, or $2.74 per share, up from $312.9 million, or $2.60 per share, a year earlier.Excluding costs related to its acquisition of Chuy's, Darden earned $2.80 per share.Net sales rose 6.2% to $3.16 billion, fueled largely by the addition of Chuy's restaurants to its portfolio.Darden's same-store sales rose 0.7%, less than the 1.7% increase expected by analysts, according to StreetAccount estimates.Executives blamed this winter's low temperatures and snowstorms for the disappointing quarter ended Feb. 23. When excluding weather, same-store sales across all four of Darden's segments grew during the quarter, and only consumers making less than $50,000 were spending less at its casual-dining restaurants.""Even if [consumers] say they're feeling feeling less optimistic, we haven't seen a huge correlation between that and dining out,"" CEO Rick Cardenas told analysts on the company's conference call. ""So I think as long as incomes are going up and outpacing inflation, I think they're likely to keep spending.""Both Olive Garden and LongHorn Steakhouse, which are typically the two standouts of Darden's portfolio, reported underwhelming same-store sales growth. Olive Garden's same-store sales rose 0.6%. Analysts were anticipating same-store sales growth of 1.5%. And LongHorn's same-store sales increased 2.6%, missing analysts' expectations of 5% growth.In February, Olive Garden finished rolling out delivery with Uber Direct. The chain's delivery customers typically spend 20% more than the average curbside pickup order, and Olive Garden saw delivery order volume increase every week.""Now at the end of the third quarter, our pilot restaurants were running around 2.5% of sales in delivery, and the other restaurants were following that same pattern,"" Cardenas said.In the first three weeks of March, both Olive Garden and LongHorn saw strong momentum, executives said.Darden's fine dining segment, which includes The Capital Grille and Ruth's Chris Steak House, reported same-store sales declines of 0.8%. The segment saw stronger demand during the holiday season, but consumers pulled back again in the new year.""We are seeing more persistent check management post-holidays, so I guess we're not ready to claim victory yet on fine dining. It's still soft,"" CFO Raj Vennam said.The last segment of Darden's business, which includes Cheddar's Scratch Kitchen and Yard House, saw same-store sales shrink 0.4% in the quarter.For the full year, Darden reiterated its forecast for revenue of $12.1 billion. It narrowed its outlook for adjusted earnings from continuing operations to a range of $9.45 to $9.52 per share. Its prior forecast was $9.40 to $9.60 per share.Darden's fiscal 2025 outlook includes Chuy's results, but the Tex-Mex chain won't be included in its same-store sales metrics until the fiscal fourth quarter in 2026.Correction: A previous version of this story misattributed a quote about Darden's fine-dining business.",CNBC,20/03/2025,"[""In this articleDarden Restaurants on Thursday reported weaker-than-expected sales as Olive Garden and LongHorn Steakhouse underperformed analysts' projections."", ""The restaurant company blamed weather for the sales slowdown and maintained its full-year forecast, lifting investors' confidence that the rough quarter was a blip."", 'Darden shares rose 5% Thursday.', ""Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Darden reported fiscal third-quarter net income of $323.4 million, or $2.74 per share, up from $312.9 million, or $2.60 per share, a year earlier."", ""Excluding costs related to its acquisition of Chuy's, Darden earned $2.80 per share."", ""Net salesrose 6.2% to $3.16 billion, fueled largely by the addition of Chuy's restaurants to its portfolio."", ""Darden's same-store sales rose 0.7%, less than the 1.7% increase expected by analysts, according to StreetAccount estimates."", ""Executives blamed this winter's low temperatures and snowstorms for the disappointing quarter ended Feb. 23."", ""When excluding weather, same-store sales across all four of Darden's segments grew during the quarter, and only consumers making less than $50,000 were spending less at its casual-dining restaurants."", '""Even if [consumers] say they\'re feeling feeling less optimistic, we haven\'t seen a huge correlation between that and dining out,"" CEO Rick Cardenas told analysts on the company\'s conference call. ""', ""So I think as long as incomes are going up and outpacing inflation, I think they're likely to keep spending."", '""Both Olive Garden and LongHorn Steakhouse, which are typically the two standouts of Darden\'s portfolio, reported underwhelming same-store sales growth.', ""Olive Garden's same-store sales rose 0.6%."", 'Analysts were anticipating same-store sales growth of 1.5%.', ""And LongHorn's same-store sales increased 2.6%, missing analysts' expectations of 5% growth."", 'In February, Olive Garden finished rolling out delivery with Uber Direct.', ""The chain's delivery customers typically spend 20% more than the average curbside pickup order, and Olive Garden saw delivery order volume increase every week."", '""Now at the end of the third quarter, our pilot restaurants were running around 2.5% of sales in delivery, and the other restaurants were following that same pattern,"" Cardenas said.', 'In the first three weeks of March, both Olive Garden and LongHorn saw strong momentum, executives said.', ""Darden's fine dining segment, which includes The Capital Grille and Ruth's Chris Steak House, reported same-store sales declines of 0.8%."", 'The segment saw stronger demand during the holiday season, but consumers pulled back again in the new year.', '""We are seeing more persistent check management post-holidays, so I guess we\'re not ready to claim victory yet on fine dining.', 'It\'s still soft,"" CFO Raj Vennam said.', ""The last segment of Darden's business, which includes Cheddar's Scratch Kitchen and Yard House, saw same-store sales shrink 0.4% in the quarter."", 'For the full year, Darden reiterated its forecast for revenue of $12.1 billion.', 'It narrowed its outlook for adjusted earnings from continuing operations to a range of $9.45 to $9.52 per share.', 'Its prior forecast was $9.40 to $9.60 per share.', ""Darden's fiscal 2025 outlook includes Chuy's results, but the Tex-Mex chain won't be included in its same-store sales metrics until the fiscal fourth quarter in 2026.Correction: A previous version of this story misattributed a quote about Darden's fine-dining business.""]",0.1686304830209421,"""Even if [consumers] say they're feeling feeling less optimistic, we haven't seen a huge correlation between that and dining out,"" CEO Rick Cardenas told analysts on the company's conference call. """,Executives blamed this winter's low temperatures and snowstorms for the disappointing quarter ended Feb. 23.,0.45543680136854,Olive Garden's same-store sales rose 0.6%.,"Darden's fine dining segment, which includes The Capital Grille and Ruth's Chris Steak House, reported same-store sales declines of 0.8%.",2025-03-23
+"U.S. consumers are starting to crack as tariffs add to inflation, recession concerns",https://www.cnbc.com/2025/03/14/delta-walmart-warn-about-consumer-spending-amid-tariffs-inflation.html,2025-03-15T11:18:46+0000,"It's not just Walmart.The leaders of companies that serve everyone from penny-pinching grocery shoppers to first-class travelers are seeing cracks in demand, a shift after resilient consumers propped up the U.S. economy for years despite prolonged inflation. On top of high interest rates and persistent inflation, CEOs are now grappling with how to handle new hurdles like on-again, off-again tariffs, mass government layoffs and worsening consumer sentiment.Across earnings calls and investor presentations in recent weeks, retailers and other consumer-facing businesses warned that first-quarter sales were coming in softer than expected and the rest of the year might be tougher than Wall Street thought. Many of the executives blamed unseasonably cool weather and a ""dynamic"" macroeconomic environment, but the early days of President Donald Trump's second term have brought new challenges — perhaps none greater than trying to plan a global business at a time when his administration shifts its trade policies by the hour.Economists largely expect Trump's new tariffs on goods from China, Canada and Mexico will raise prices for consumers and dampen spending at a time when inflation remains higher than the Federal Reserve's target. In February, consumer confidence — which can help to signal how much shoppers are willing to shell out — saw the biggest drop since 2021. A separate consumer sentiment measure for March also came in worse than expected.Another sign of weakness has been in air travel. The sector, especially large international airlines, had been a bright spot following the pandemic, with consumers proving again and again that they wouldn't give up trips even in the face of the biggest jump inflation in more than four decades. This week, however, the CEOs of the four largest U.S. airlines — United, American, Delta and Southwest — said they are seeing a slowdown in demand this quarter. American, Delta and Southwest cut their first-quarter forecasts.Plus, the strong U.S. job market of recent years is showing early signs of stress as job growth slows and unemployment ticks up.These trends have thrown cold water on what was a red-hot stock market and sparked new fears about a potential recession, sending the S&P 500 tumbling 10% from its record highs in February, though it had recovered significant ground by Friday afternoon.Now, as investors and executives grow more worried about the impact tariffs will have on consumer spending and fret about an administration they had high hopes for just a few months ago, even the strongest companies are striking cautious tones as the weaker ones get even louder. Take Walmart, the retail industry's de facto leader, which has spent the last year turning an uncertain economy into fuel for growth as it courted higher-income consumers. When Walmart announced fiscal fourth-quarter earnings last month, its stock fell after it warned that profit growth would be slower than expected in the year ahead. It was a rare warning sign from a company that tends to thrive in a weaker economy, and an indication that it's expecting consumers to pull back from higher-margin discretionary goods in favor of essentials like milk and paper towels in the year ahead. ""We don't want to get out over our skis here. There's a lot of the year to play out,"" Walmart's finance chief, John David Rainey, told analysts when discussing the company's outlook. ""It's prudent to have an outlook that is somewhat measured.""Ed Bastian, chief executive of Delta Air Lines – the most profitable U.S. carrier that has reaped the rewards of big spenders in recent years – struck a similar tone after it slashed its earnings and revenue forecast for the first quarter. In an interview Monday on CNBC's ""Closing Bell,"" Bastian said that consumer confidence has weakened and that both leisure and business customers have pulled back on bookings, which led it to cut its guidance.""Consumers in a discretionary business do not like uncertainty,"" said Bastian. ""And while we do believe this will be a period of time that we pass through, it is also something that we need to understand and get to calmer waters.""To be sure, it wasn't just fewer people booking trips that led the airline to cut its first-quarter forecast. Questions about air safety compounded the problem after two major airline accidents, including Delta's own crash landing in Toronto, in which no one died.Beyond Delta, rival United said it will retire 21 aircraft early, a move that aims to cut costs.""We have also seen weakness in the demand market,"" United CEO Scott Kirby said at Tuesday's JPMorgan airline industry conference. ""It started with government. Government is 2% of our business. Government adjacent, all the other consultants and contracts that go along with that are probably another 2% to 3%. That's running down about 50% right now. So a pretty material impact in the short term.""The airline has seen some of that dynamic ""bleed over"" into the domestic leisure market, as well, Kirby added. He said the company is already looking at where it will cut flights, eyeing a big drop in traffic from Canada into the U.S. and in markets that were popular with government workers.American Airlines cut its first-quarter earnings forecast and said in addition to demand pressures, bookings were hurt after a deadly midair collision of an Army helicopter with one of its regional jets in Washington, D.C., in January.The company also felt the pullback in government travel and associated trips like those for contractors.""We know that there's some follow-on effect in terms of leisure travel associated with that as well,"" said CEO Robert Isom.Airline executives were upbeat about longer-term demand in 2025, however.Other strong companies, such as Dick's Sporting Goods, E.l.f. Beauty and Abercrombie & Fitch, also issued weak forecasts in recent weeks, though they indicated they were feeling positive about the second half of the year. ""I do think it's just a bit of an uncertain world out there right now,"" Ed Stack, chairman of Dick's Sporting Goods, told CNBC when asked about the company's guidance. ""What's going to happen from a tariff standpoint? You know, if tariffs are put in place and prices rise the way that they might, what's going to happen with the consumer?""Over the last year, companies like United, Walmart and Abercrombie have managed to outperform the S&P 500, even as shoppers reduced discretionary spending, so this change in commentary marks a major shift. It's a warning sign that shoppers could be starting to crack, and that even excellent execution is no match for tariff-induced price increases after four years of historic inflation. Meanwhile, the companies that have already spent the last year calling out uncertain consumer dynamics are sounding even more worried.""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation. Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" the CEO of Dollar General, Todd Vasos, said on the company's fourth-quarter earnings call Thursday, adding customers are expecting value and convenience ""more than ever."" The worsening consumer outlook has compounded the company's own internal challenges.""As we enter 2025,"" Vasos continued. ""We are not anticipating improvement in the macro environment, particularly for our core customer.""Elsewhere in the retail industry, American Eagle on Tuesday warned that cold weather led to a slower-than-expected start to the first quarter, but said it wasn't just temperatures. The apparel retailer specifically called out ""less robust demand"" and said it's taking steps to reduce expenses and manage inventory as it braces for what's still to come. ""[Consumers] have the fear of the unknown. Not just tariffs, not just inflation, we see the government cutting people off. They don't know how that's going to affect them. They see programs being cut, they don't know how that's going to affect them,"" said CEO Jay Schottenstein. ""And when people don't know what they don't know – they get very conservative … it makes everyone a little nervous.""",CNBC,15/03/2025,"[""It's not just Walmart."", 'The leaders of companies that serve everyone from penny-pinching grocery shoppers to first-class travelers are seeing cracks in demand, a shift after resilient consumers propped up the U.S. economy for years despite prolonged inflation.', 'On top of high interest rates and persistent inflation, CEOs are now grappling with how to handle new hurdles like on-again, off-again tariffs, mass government layoffs and worsening consumer sentiment.', 'Across earnings calls and investor presentations in recent weeks, retailers and other consumer-facing businesses warned that first-quarter sales were coming in softer than expected and the rest of the year might be tougher than Wall Street thought.', 'Many of the executives blamed unseasonably cool weather and a ""dynamic"" macroeconomic environment, but the early days of President Donald Trump\'s second term have brought new challenges — perhaps none greater than trying to plan a global business at a time when his administration shifts its trade policies by the hour.', ""Economists largely expect Trump's new tariffs on goods from China, Canada and Mexico will raise prices for consumers and dampen spending at a time when inflation remains higher than the Federal Reserve's target."", 'In February, consumer confidence — which can help to signal how much shoppers are willing to shell out — saw the biggest drop since 2021.', 'A separate consumer sentiment measure for March also came in worse than expected.', 'Another sign of weakness has been in air travel.', ""The sector, especially large international airlines, had been a bright spot following the pandemic, with consumers proving again and again that they wouldn't give up trips even in the face of the biggest jump inflation in more than four decades."", 'This week, however, the CEOs of the four largest U.S. airlines — United, American, Delta and Southwest — said they are seeing a slowdown in demand this quarter.', 'American, Delta and Southwest cut their first-quarter forecasts.', 'Plus, the strong U.S. job market of recent years is showing early signs of stress as job growth slows and unemployment ticks up.', 'These trends have thrown cold water on what was a red-hot stock market and sparked new fears about a potential recession, sending the S&P 500 tumbling 10% from its record highs in February, though it had recovered significant ground by Friday afternoon.', 'Now, as investors and executives grow more worried about the impact tariffs will have on consumer spending and fret about an administration they had high hopes for just a few months ago, even the strongest companies are striking cautious tones as the weaker ones get even louder.', ""Take Walmart, the retail industry's de facto leader, which has spent the last year turning an uncertain economy into fuel for growth as it courted higher-income consumers."", 'When Walmart announced fiscal fourth-quarter earnings last month, its stock fell after it warned that profit growth would be slower than expected in the year ahead.', ""It was a rare warning sign from a company that tends to thrive in a weaker economy, and an indication that it's expecting consumers to pull back from higher-margin discretionary goods in favor of essentials like milk and paper towels in the year ahead."", '""We don\'t want to get out over ourskishere.', 'There\'s a lot of the year to play out,"" Walmart\'s finance chief, John David Rainey, told analysts when discussing the company\'s outlook. ""', ""It'sprudentto have an outlook that is somewhat measured."", '""Ed Bastian, chief executive of Delta Air Lines – the most profitable U.S. carrier that has reaped the rewards of big spenders in recent years – struck a similar tone after it slashed its earnings and revenue forecast for the first quarter.', 'In an interview Monday on CNBC\'s ""Closing Bell,"" Bastian said that consumer confidence has weakened and that both leisure and business customers have pulled back on bookings, which led it to cut its guidance.', '""Consumers in a discretionary business do not like uncertainty,"" said Bastian. ""', 'And while we do believe this will be a period of time that we pass through, it is also something that we need to understand and get to calmer waters.', '""To be sure, it wasn\'t just fewer people booking trips that led the airline to cut its first-quarter forecast.', ""Questions about air safety compounded the problem after two major airline accidents, including Delta's own crash landing in Toronto, in which no one died."", 'Beyond Delta, rival United said it will retire 21 aircraft early, a move that aims to cut costs.', '""We have also seen weakness in the demand market,"" United CEO Scott Kirby saidat Tuesday\'s JPMorgan airline industry conference. ""', 'It started with government.', 'Government is 2% of our business.', 'Government adjacent, all the other consultants and contracts that go along with that are probably another 2% to 3%.', ""That's running down about 50% right now."", 'So a pretty material impact in the short term.', '""The airline has seen some of that dynamic ""bleed over"" into the domestic leisure market, as well, Kirby added.', 'He said the company is already looking at where it will cut flights, eyeing a big drop in traffic from Canada into the U.S. and in markets that were popular with government workers.', 'American Airlines cut its first-quarter earnings forecast and said in addition to demand pressures, bookings were hurt after a deadly midair collision of an Army helicopter with one of its regional jets in Washington, D.C., in January.', 'The company also felt the pullback in government travel and associated trips like those for contractors.', '""We know that there\'s some follow-on effect in terms of leisure travel associated with that as well,"" said CEO Robert Isom.', 'Airline executives were upbeat about longer-term demand in 2025, however.', ""Other strong companies, such as Dick's Sporting Goods, E.l.f."", 'Beauty and Abercrombie & Fitch, also issued weak forecasts in recent weeks, though they indicated they were feeling positive about the second half of the year.', '""I do think it\'s just a bit of an uncertain world out there right now,"" Ed Stack, chairman of Dick\'s Sporting Goods, told CNBC when asked about the company\'s guidance. ""', ""What's going to happen from a tariff standpoint?"", 'You know, if tariffs are put in place and prices rise the way that they might, what\'s going to happen with the consumer?""Over the last year, companies like United, Walmart and Abercrombie have managed to outperform the S&P 500, even as shoppers reduced discretionary spending, so this change in commentary marks a major shift.', ""It's a warning sign that shoppers could be starting to crack, and that even excellent execution is no match for tariff-induced price increases after four years of historic inflation."", 'Meanwhile, the companies that have already spent the last year calling out uncertain consumer dynamics are sounding even more worried.', '""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation.', 'Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" the CEO of Dollar General, Todd Vasos, said on the company\'s fourth-quarter earnings call Thursday, adding customers are expecting value and convenience ""more than ever.', '""The worsening consumer outlook has compounded the company\'s own internal challenges.', '""As we enter 2025,"" Vasos continued. ""', 'We are not anticipating improvement in the macro environment, particularly for our core customer.', '""Elsewhere in the retail industry, American Eagle on Tuesday warned that cold weather led to a slower-than-expected start to the first quarter, but said it wasn\'t just temperatures.', 'The apparel retailer specifically called out ""less robust demand"" and said it\'s taking steps to reduce expenses and manage inventory as it braces for what\'s still to come.', '""[Consumers] have the fear of the unknown.', 'Not just tariffs, not just inflation, we see the government cutting people off.', ""They don't know how that's going to affect them."", 'They see programs being cut, they don\'t know how that\'s going to affect them,"" said CEO Jay Schottenstein. ""', 'And when people don\'t know what they don\'t know – they get very conservative … it makes everyone a little nervous.""']",-0.002404490490382,"Beauty and Abercrombie & Fitch, also issued weak forecasts in recent weeks, though they indicated they were feeling positive about the second half of the year.","Questions about air safety compounded the problem after two major airline accidents, including Delta's own crash landing in Toronto, in which no one died.",-0.437673362188561,"You know, if tariffs are put in place and prices rise the way that they might, what's going to happen with the consumer?""Over the last year, companies like United, Walmart and Abercrombie have managed to outperform the S&P 500, even as shoppers reduced discretionary spending, so this change in commentary marks a major shift.","Across earnings calls and investor presentations in recent weeks, retailers and other consumer-facing businesses warned that first-quarter sales were coming in softer than expected and the rest of the year might be tougher than Wall Street thought.",2025-03-23
+"February home resales jump much more than expected, despite higher mortgage rates",https://www.cnbc.com/2025/03/20/february-home-resales-jump-more-than-expected-despite-mortgage-rates.html,2025-03-20T19:39:10+0000,"Sales of previously owned homes in February rose 4.2% from January to 4.26 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Industry analysts had expected a drop of 3%.Sales were 1.2% lower compared with February of last year.This count is based on closings, so contracts signed in December and January, when mortgage rates were rising and briefly held in the 7% range on the 30-year fixed. Rates today are in the high 6% range.""Home buyers are slowly entering the market,"" said Lawrence Yun, NAR's chief economist, in a release. ""Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand.""Sales were only higher annually in the highest price categories, above $750,000. Sales around the median price were down 3% year over year.Inventory at the end of February stood at 1.24 million units, an increase of 17% year over year, but still just a 3.5-month supply at the current sales pace. A six-month supply is considered balanced between buyer and seller.""We are still in a relatively tight market condition,"" Yun said.That tight supply is keeping pressure on prices. The median price of a home sold in February was $398,400, up 3.8% from the same time last year. That is a record high for the month of February. All four geographical regions of the country saw price increases.First-time buyers edged back into the market, making up 31% of February sales compared with 26% the year before. Investors, however, pulled back, accounting for just 16% of sales, down from 21% last year.All-cash sales, however, remained relatively steady at 32% of sales, down just slightly from the year before. Cash is usually favored by investors, so this suggests, given the drop in investor sales, that more owner-occupants are using cash.While these sales were higher than expected, they are more indicative of the market two months ago than they are now. A separate survey of real estate agents in February from John Burns Research and Consulting found more than half of respondents indicated this spring's resale market is weaker than normal. This resale index dropped for the first time in four months.""Current sales ratings remain weak, with 53% of agents reporting weaker than normal sales. This is better than 56% one year ago but lower than January's 47%. Affordability constraints and economic uncertainty keep many buyers on the sidelines,"" according to the report from John Burns.",CNBC,20/03/2025,"['Sales of previously owned homes in February rose 4.2% from January to 4.26 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.', 'Industry analysts had expected a drop of 3%.Sales were 1.2% lower compared with February of last year.', 'This count is based on closings, so contracts signed in December and January, when mortgage rates were rising and briefly held in the 7% range on the 30-year fixed.', 'Rates today are in the high 6% range.', '""Home buyers are slowly entering the market,"" said Lawrence Yun, NAR\'s chief economist, in a release. ""', 'Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand.', '""Sales were only higher annually in the highest price categories, above $750,000.', 'Sales around the median price were down 3% year over year.', 'Inventory at the end of February stood at 1.24 million units, an increase of 17% year over year, but still just a 3.5-month supply at the current sales pace.', 'A six-month supply is considered balanced between buyer and seller.', '""We are still in a relatively tight market condition,"" Yun said.', 'That tight supply is keeping pressure on prices.', 'The median price of a home sold in February was $398,400, up 3.8% from the same time last year.', 'That is a record high for the month of February.', 'All four geographical regions of the country saw price increases.', 'First-time buyers edged back into the market, making up 31% of February sales compared with 26% the year before.', 'Investors, however, pulled back, accounting for just 16% of sales, down from 21% last year.', 'All-cash sales, however, remained relatively steady at 32% of sales, down just slightly from the year before.', 'Cash is usually favored by investors, so this suggests, given the drop in investor sales, that more owner-occupants are using cash.', 'While these sales were higher than expected, they are more indicative of the market two months ago than they are now.', ""A separate survey of real estate agents in February from John Burns Research and Consulting found more than half of respondents indicated this spring's resale market is weaker than normal."", 'This resale index dropped for the first time in four months.', '""Current sales ratings remain weak, with 53% of agents reporting weaker than normal sales.', ""This is better than 56% one year ago but lower than January's 47%."", 'Affordability constraints and economic uncertainty keep many buyers on the sidelines,"" according to the report from John Burns.']",-0.0939364194290539,"Cash is usually favored by investors, so this suggests, given the drop in investor sales, that more owner-occupants are using cash.","""Current sales ratings remain weak, with 53% of agents reporting weaker than normal sales.",-0.0761304951849437,"Sales of previously owned homes in February rose 4.2% from January to 4.26 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.",Industry analysts had expected a drop of 3%.Sales were 1.2% lower compared with February of last year.,2025-03-23
+How new professional sports leagues like SailGP are putting women at the fore,https://www.cnbc.com/2025/03/19/sailgp-professional-sports-leagues-put-women-at-fore.html,2025-03-20T13:55:31+0000,"As women's sports surge in popularity, professional leagues are increasingly touting the value of female athletes. New professional leagues like SailGP are launching with the advantage of building from the ground up, with gender diversity as part of their DNA.Noncontact and noncollision sports are leading the way. Formula 1's F1 Academy has created a pipeline for women into motorsports, with a goal of increasing female participation and representation on and off the racetrack. At the same time, it's drawing a more diverse fanbase. Roughly 41% of F1 fans now are female, with women aged 16 to 24 years old making up the fastest-growing fan group, according to Nielsen Sports.Professional male and female athletes are already competing alongside and against each other in the United Pickleball Association's unified league, the Global Mixed Gender Basketball league and in SailGP, the international sailing league co-founded by Oracle founder Larry Ellison and champion yachtsman Russell Coutts. Founded in 2018, the upstart sailing league involves 12 international teams racing on high-speed, 50-foot Catamarans, known as F50s. At speeds of more than 60 mph, SailGP is gaining a reputation as a sort of Formula 1 on the water.""The whole goal is to train athletes to be capable of racing on an F50, which is one of the more complex boats in the world – maybe the most difficult boat to race in the world right now,"" said Coutts, who is also SailGP's chief executive officer. The league didn't set out with gender equity goals in mind, Coutts said, but simply sought to create the most compelling competition.  ""We believe that male and female athletes can compete at the top of our sport against each other and with each other, so when we we saw that there was a difference in participation levels – and didn't really see any logical reason for that – we took some steps to address that and we'll take further steps in the future,"" said Coutts. To bridge the experience gap most female sailors face, SailGP created programs to draw and train talent. In December, its Women's Performance Camp in Dubai, United Arab Emirates, marked its largest on-the-water women's athlete training camp to date. The league also requires each team to have at least one female athlete onboard during races and has set targets to have at least two female athletes per race crew in key positions within the next five years. Those key positions are the driver, who steers the boat; the strategist, who advises on tactics; the wing trimmer, who adjusts the 85- to 90-foot carbon-fiber wing sail; and the flight controller, who dictates how high or low the boat flies over the water.The next SailGP races take place Saturday and Sunday in San Francisco, the second in back-to-back U.S. weekend races. SailGP has embedded inclusivity and sustainability into the competition via an Impact League that runs parallel to the on-the-water championship. Teams earn points for taking action to make sailing more accessible and to protect the environment in order to reach the podium. Winning teams earn cash prize donations to their partners. The Canadian team is in the lead in the Impact League thanks to its work to offer training opportunities, sailing camps and demo days to introduce foiling to new Canadian athletes.""That changes the mindframe of very competitive people to care, and to compete, in a world of impact and sustainability as well,"" said SailGP Chief Marketing Officer Leah Davis. ""When you challenge the world's most competitive people to be good at something else, they will turn their eyes to that pretty quickly, and in a pretty impactful way.""Off the water, 43% of SailGP's C-suite is female, up from just 14% in 2021. For comparison, 29% of C-suite roles at Fortune 500 companies are held by women, according to McKinsey's Women in the Workplace 2024 report. The league last year introduced Apex Group's accelerator program, aimed at increasing female representation at senior levels of the company. It has also introduced initiatives to train more women on the operations, technology and boat-building side of the business. For example, SailGP Technologies based in Southampton, U.K., offers an apprenticeship training scheme – eight participants join the program each year, four male and four female. Today, 33% of directors at SailGP and 52% of heads of departments are female.The overall business strategy is helping to grow the league's appeal to a new set of fans. For the first time in its history, more than half of the ticket holders in attendance at last season's New Zealand Championships in March were female, a trend that has held steady this season.""This demographic has been underserved in sports,"" said SailGP Chief Purpose Officer Fiona Morgan. ""A huge part of our headroom in fans is young fans – and actually they're female fans – who probably didn't think about sailing, but they like extreme sports or sustainability, or they like sports that have gender equity at the heart.""In June, Tommy Hilfiger was announced as the United States SailGP team's official lifestyle apparel partner, joining brands such as Red Bull, Emirates, Mubadala, Rockwool and Deutsche Bank in sponsoring individual teams. In November, SailGP announced it had signed Rolex as its first title sponsor.""I don't think many brands nowadays will go into sponsorship that doesn't have diversity or equity at some point in it,"" said Morgan. ""Their consumers and their investors will ensure they do that."" In September, the league achieved a major milestone, announcing its first female driver. Two-time Olympic sailing champion Martine Grael joined for the 2024-25 season to skipper the new Mubadala Brazil SailGP Team, making history and immediately climbing the leaderboard. After championships in Dubai, Auckland, New Zealand, Sydney and Los Angeles, teams from the U.K., Australia and New Zealand are leading the league. Grael has steered her team ahead of the Germany SailGP team, and is proving competitive against the more experienced United States team.""In the past — and still nowadays — you see a lot of people say, 'Girls shouldn't do that,'"" Grael said. Her response is to call out that old way of thinking: ""Shouldn't do what?""Grael credits much of her early success to familiarizing herself with the boats using SailGP's simulator, developing muscle memory before even getting on the water. Unlike traditional boats built with male sailors in mind, SailGP's modern foiling boats open opportunities for women in roles that do not require as much physical strength, she said. Knowing when to push a button and developing a good feel for the boat are equally important to the more physical functions, said Grael. ""Some guys have failed to understand that a girl is very much capable of doing the same role they're doing,"" she said.Grael is among a number of top female athletes competing in key positions in SailGP – including Emirates Great Britain Team's strategist Hannah Mills and the U.S. team's Anna Weis – and says though women are still in the minority, things are changing.Together with women competing in marquee races – like Switzerland's Justine Mettraux, who took eighth place in the Vendée Globe single-handed, nonstop, nonassisted round-the-world race this year – they are carving a path for a new cohort of women to gain opportunities and make their mark.""We have been less limited — I grew up never being told I shouldn't do something,"" said Grael. ""There's a big generation of others looking at us, and they're going to come out strong.""Correction: This story has been updated to correct that SailGP teams from the U.K., Australia and New Zealand are leading the league. It's also been updated to correct the name of SailGP's Women's Performance Camp.",CNBC,20/03/2025,"[""As women's sports surge in popularity, professional leagues are increasingly touting the value of female athletes."", 'New professional leagues like SailGP are launching with the advantage of building from the ground up, with gender diversity as part of their DNA.Noncontact and noncollision sports are leading the way.', ""Formula 1's F1 Academy has created a pipeline for women into motorsports, with a goal of increasing female participation and representation on and off the racetrack."", ""At the same time, it's drawing a more diverse fanbase."", 'Roughly 41% of F1 fans now are female, with women aged 16 to 24 years old making up the fastest-growing fan group, according to Nielsen Sports.', ""Professional male and female athletes are already competing alongside and against each other in the United Pickleball Association's unified league, the Global Mixed Gender Basketball league and in SailGP, the international sailing league co-founded by Oracle founder Larry Ellison and champion yachtsman Russell Coutts."", 'Founded in 2018, the upstart sailing league involves 12 international teams racing on high-speed, 50-foot Catamarans, known as F50s.', 'At speeds of more than 60 mph, SailGP is gaining a reputation as a sort of Formula 1 on the water.', '""The whole goal is to train athletes to be capable of racing on an F50, which is one of the more complex boats in the world – maybe the most difficult boat to race in the world right now,"" said Coutts, who is also SailGP\'s chief executive officer.', ""The league didn't set out with gender equity goals in mind, Coutts said, but simply sought to create the most compelling competition."", '""We believe that male and female athletes can compete at the top of our sport against each other and with each other, so when we we saw that there was a difference in participation levels – and didn\'t really see any logical reason for that – we took some steps to address that and we\'ll take further steps in the future,"" said Coutts.', 'To bridge the experience gap most female sailors face, SailGP created programs to draw and train talent.', ""In December, its Women's Performance Camp in Dubai, United Arab Emirates, marked its largest on-the-water women's athlete training camp to date."", 'The league also requires each team to have at least one female athlete onboard during races and has set targets to have at least two female athletes per race crew in key positions within the next five years.', 'Those key positions are the driver, who steers the boat; the strategist, who advises on tactics; the wing trimmer, who adjusts the 85- to 90-foot carbon-fiber wing sail; and the flight controller, who dictates how high or low the boat flies over the water.', 'The next SailGP races take place Saturday and Sunday in San Francisco, the second in back-to-back U.S. weekend races.', 'SailGP has embedded inclusivity and sustainability into the competition via an Impact League that runs parallel to the on-the-water championship.', 'Teams earn points for taking action to make sailing more accessible and to protect the environment in order to reach the podium.', 'Winning teams earn cash prize donations to their partners.', 'The Canadian team is in the lead in the Impact League thanks to its work to offer training opportunities, sailing camps and demo days to introduce foiling to new Canadian athletes.', '""That changes the mindframe of very competitive people to care, and to compete, in a world of impact and sustainability as well,"" said SailGP Chief Marketing Officer Leah Davis. ""', ""When you challenge the world's most competitive people to be good at something else, they will turn their eyes to that pretty quickly, and in a pretty impactful way."", '""Off the water, 43% of SailGP\'s C-suite is female, up from just 14% in 2021.', ""For comparison, 29% of C-suite roles at Fortune 500 companies are held by women, according to McKinsey's Women in the Workplace 2024 report."", ""The league last year introduced Apex Group's accelerator program, aimed at increasing female representation at senior levels of the company."", 'It has also introduced initiatives to train more women on the operations, technology and boat-building side of the business.', 'For example, SailGP Technologies based in Southampton, U.K., offers an apprenticeship training scheme – eight participants join the program each year, four male and four female.', 'Today, 33% of directors at SailGP and 52% of heads of departments are female.', ""The overall business strategy is helping to grow the league's appeal to a new set of fans."", ""For the first time in its history, more than half of the ticket holders in attendance at last season's New Zealand Championships in March were female, a trend that has held steady this season."", '""This demographic has been underserved in sports,"" said SailGP Chief Purpose Officer Fiona Morgan. ""', ""A huge part of our headroom in fans is young fans – and actually they're female fans – who probably didn't think about sailing, but they like extreme sports or sustainability, or they like sports that have gender equity at the heart."", '""In June, Tommy Hilfiger was announced as the United States SailGP team\'s official lifestyle apparel partner, joining brands such as Red Bull, Emirates, Mubadala, Rockwool and Deutsche Bank in sponsoring individual teams.', 'In November, SailGP announced it had signed Rolex as its first title sponsor.', '""I don\'t think many brands nowadays will go into sponsorship that doesn\'t have diversity or equity at some point in it,"" said Morgan. ""', 'Their consumers and their investors will ensure they do that.', '""In September, the league achieved a major milestone, announcing its first female driver.', 'Two-time Olympic sailing champion Martine Grael joined for the 2024-25 season to skipper the new Mubadala Brazil SailGP Team, making history and immediately climbing the leaderboard.', 'After championships in Dubai, Auckland, New Zealand, Sydney and Los Angeles, teams from the U.K., Australia and New Zealand are leading the league.', 'Grael has steered her team ahead of the Germany SailGP team, and is proving competitive against the more experienced United States team.', '""In the past — and still nowadays — you see a lot of people say, \'Girls shouldn\'t do that,\'"" Grael said.', 'Her response is to call out that old way of thinking: ""Shouldn\'t do what?""Grael credits much of her early success to familiarizing herself with the boats using SailGP\'s simulator, developing muscle memory before even getting on the water.', ""Unlike traditional boats built with male sailors in mind, SailGP's modern foiling boats open opportunities for women in roles that do not require as much physical strength, she said."", 'Knowing when to push a button and developing a good feel for the boat are equally important to the more physical functions, said Grael.', '""Some guys have failed to understand that a girl is very much capable of doing the same role they\'re doing,"" she said.', ""Grael is among a number of top female athletes competing in key positions in SailGP – including Emirates Great Britain Team's strategist Hannah Mills and the U.S. team's Anna Weis – and says though women are still in the minority, things are changing."", ""Together with women competing in marquee races – like Switzerland's Justine Mettraux, who took eighth place in the Vendée Globe single-handed, nonstop, nonassisted round-the-world race this year – they are carving a path for a new cohort of women to gain opportunities and make their mark."", '""We have been less limited — I grew up never being told I shouldn\'t do something,"" said Grael. ""', ""There's a big generation of others looking at us, and they're going to come out strong."", '""Correction: This story has been updated to correct that SailGP teams from the U.K., Australia and New Zealand are leading the league.', ""It's also been updated to correct the name of SailGP's Women's Performance Camp.""]",0.3284540759668937,"When you challenge the world's most competitive people to be good at something else, they will turn their eyes to that pretty quickly, and in a pretty impactful way.","Those key positions are the driver, who steers the boat; the strategist, who advises on tactics; the wing trimmer, who adjusts the 85- to 90-foot carbon-fiber wing sail; and the flight controller, who dictates how high or low the boat flies over the water.",0.8142258775861639,"""Off the water, 43% of SailGP's C-suite is female, up from just 14% in 2021.","""This demographic has been underserved in sports,"" said SailGP Chief Purpose Officer Fiona Morgan. """,2025-03-23
+Watch NASA astronauts return to Earth on SpaceX capsule after months on the ISS,https://www.cnbc.com/2025/03/18/watch-live-astronauts-return-spacex-capsule-iss.html,2025-03-18T22:11:42+0000,"[The stream is slated to start at 4:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]NASA astronauts Butch Wilmore and Suni Williams are set to splash down on Earth on Tuesday evening after spending more than nine months in space.They were originally supposed to be at the International Space Station for a little over a week, but their stay was extended after the Boeing Starliner capsule that they took in June experienced issues.Instead, Wilmore and Williams are returning on a SpaceX Dragon spacecraft with fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov.Subscribe to CNBC on YouTube.",CNBC,18/03/2025,"['[The stream is slated to start at 4:45 p.m. ET.', 'Please refresh the page if you do not see a player above at that time.]NASA astronauts Butch Wilmore and Suni Williams are set to splash down on Earth on Tuesday evening after spending more than nine months in space.', 'They were originally supposed to be at the International Space Station for a little over a week, but their stay was extended after the Boeing Starliner capsule that they took in June experienced issues.', 'Instead, Wilmore and Williams are returning on aSpaceX Dragon spacecraftwith fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov.', 'Subscribe to CNBC on YouTube.']",0.0636421993542483,Please refresh the page if you do not see a player above at that time.]NASA astronauts Butch Wilmore and Suni Williams are set to splash down on Earth on Tuesday evening after spending more than nine months in space.,,,,,2025-03-23
+Boston Celtics sold for $6.1 billion to group led by private equity executive Bill Chisholm,https://www.cnbc.com/2025/03/20/boston-celtics-sold-for-6point1-billion-to-bill-chisholm-sixth-street-group.html,2025-03-20T18:47:50+0000,"A group led by private equity executive Bill Chisholm is buying the National Basketball Association's reigning champion Boston Celtics at a valuation of $6.1 billion, the team's ownership announced Thursday.Private equity firm Sixth Street is part of the new ownership group and will contribute more than $1 billion, one person familiar with the matter said. Other members of the ownership group include Boston-area businessman Rob Hale, a current team owner, and Bruce Beal Jr., president of real estate firm Related Companies.""Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,"" Chisholm said in a Thursday news release. ""I understand how important the Celtics are to the city of Boston — the role the team plays in the community is different than any other city in the country. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.""The Celtics' current ownership group, Boston Basketball Partners, is led by the Grousbeck family. Wyc Grousbeck, the team's CEO and governor, will remain in those roles through the 2027-28 season. If approved, the sale will go through this summer.""Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,"" Grousbeck said in a statement. ""His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team.""The NBA declined to comment.It is unclear how much Chisholm, co-founder of the firm Symphony Technology Group, will personally pay as part of the deal.The $6.1 billion sale price is the highest for a team in U.S. sports history, surpassing the $6.05 billion deal for the National Football League's Washington Commanders in 2023. The Celtics' total valuation could reach $7.3 billion by 2028 depending on the league's overall performance, a person familiar with the matter told CNBC.CNBC Sport's Official NBA Team Valuations list released in February had estimated the Celtics franchise to be worth $5.5 billion. The top-valued team was the Golden State Warriors at $9.4 billion.The sale of the Celtics to a large ownership group comes as sports franchise valuations skyrocket, making it more difficult for individuals or families to buy a team themselves. The NFL last year followed the NBA and other major leagues in allowing private equity firms to take stakes in teams.Soaring media rights payments have contributed to rapid growth in team valuations. The 11-year, $76 billion agreement the NBA signed with Walt Disney, NBCUniversal and Amazon starting next season more than doubled the annual value of the league's previous media deal.The Celtics have won 18 championships, the most in the history of the NBA. The team has the second-best record in the NBA's Eastern Conference this season and is considered a strong contender to win its second consecutive title.— CNBC's Michael Ozanian, Leslie Picker and Scott Wapner contributed to this story.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,20/03/2025,"[""A group led by private equity executive Bill Chisholm is buying the National Basketball Association's reigning champion Boston Celtics at a valuation of $6.1 billion, the team's ownership announced Thursday."", 'Private equity firm Sixth Street is part of the new ownership group and will contribute more than $1 billion, one person familiar with the matter said.', 'Other members of the ownership group include Boston-area businessman Rob Hale, a current team owner, and Bruce Beal Jr., president of real estate firm Related Companies.', '""Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,"" Chisholm said in a Thursday news release. ""', 'I understand how important the Celtics are to the city of Boston — the role the team plays in the community is different than any other city in the country.', 'I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.', '""The Celtics\' current ownership group, Boston Basketball Partners, is led by the Grousbeck family.', ""Wyc Grousbeck, the team's CEO and governor, will remain in those roles through the 2027-28 season."", 'If approved, the sale will go through this summer.', '""Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,"" Grousbeck said in a statement. ""', 'His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team.', '""The NBA declined to comment.', 'It is unclear how much Chisholm, co-founder of the firm Symphony Technology Group, will personally pay as part of the deal.', ""The $6.1 billion sale price is the highest for a team in U.S. sports history, surpassing the $6.05 billion deal for the National Football League's Washington Commanders in 2023."", ""The Celtics' total valuation could reach $7.3 billion by 2028 depending on the league's overall performance, a person familiar with the matter told CNBC.CNBC Sport's Official NBA Team Valuations list released in February had estimated the Celtics franchise to be worth $5.5 billion."", 'The top-valued team was the Golden State Warriors at $9.4 billion.', 'The sale of the Celtics to a large ownership group comes as sports franchise valuations skyrocket, making it more difficult for individuals or families to buy a team themselves.', 'The NFL last year followed the NBA and other major leagues in allowing private equity firms to take stakes in teams.', 'Soaring media rights payments have contributed to rapid growth in team valuations.', ""The 11-year, $76 billion agreement the NBA signed with Walt Disney, NBCUniversal and Amazon starting next season more than doubled the annual value of the league's previous media deal."", 'The Celtics have won 18 championships, the most in the history of the NBA.', ""The team has the second-best record in the NBA's Eastern Conference this season and is considered a strong contender to win its second consecutive title.—CNBC's Michael Ozanian, Leslie Picker and Scott Wapner contributed to this story."", 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.2266127421567241,"The team has the second-best record in the NBA's Eastern Conference this season and is considered a strong contender to win its second consecutive title.—CNBC's Michael Ozanian, Leslie Picker and Scott Wapner contributed to this story.","Other members of the ownership group include Boston-area businessman Rob Hale, a current team owner, and Bruce Beal Jr., president of real estate firm Related Companies.",0.986009521143777,Soaring media rights payments have contributed to rapid growth in team valuations.,,2025-03-23
+London’s Heathrow Airport resumes flights after major fire nearby shuts down travel,https://www.cnbc.com/2025/03/21/heathrow-airport-closes-friday-after-fire-causes-power-outage.html,2025-03-22T05:29:09+0000,"London's Heathrow Airport closed Friday after a fire at a nearby electrical substation caused a power outage, disrupting travel for tens of thousands of passengers planning to fly in or out of Europe's busiest airport.The first flight since the closure departed late Friday local time, and Heathrow posted on X that it hopes to run a ""full operation"" on Saturday.More than 800 flights were canceled in and out of the airport on Friday, according to flight-tracking site FlightAware, as of the most recent update, upending travel at the major hub and connecting airport.Airlines warned travelers that disruptions could continue into the weekend, and Heathrow posted that travelers shouldn't go to the airport unless advised to do so by their airline.London's Metropolitan Police said that while there was ""no indication of foul play,"" the counterterrorism division would now lead the investigation into the fire.""Given the location of the substation and the impact this incident has had on critical national infrastructure, the Met's Counter Terrorism Command is now leading enquiries,"" the force said in a post on X.""This is due to the specialist resources and capabilities within that command that can assist in progressing this investigation at pace to minimise disruption and identify the cause,"" it said.""Heathrow is experiencing a significant power outage across the airport. ... Whilst fire crews are responding to the incident, we do not have clarity on when power may be reliably restored,"" a Heathrow spokesperson said earlier Friday.More than 120 flights were already in the air when the closure was announced and were diverted or returned to their originating airports, according to Flightradar24. Nearly three-quarters of the flights scheduled to depart from Heathrow, or 500 flights, and half of the arrivals destined for the airport, 300 flights, were also scrubbed.Airlines around the world due to operate flights into and out of Heathrow told passengers to stay home.The fire and airport closure left thousands of travelers stranded. British Airways was the most affected airline, with over half of its Friday schedule canceled.The airline said it would offer ""flexible options"" for rebooking to passengers set to travel to or from Heathrow on Friday through the weekend, in an online post.""Our teams are currently working hard to review our long-haul schedule as well as the implications for our schedule tomorrow and beyond,"" it said in a statement.As the fire appears to be outside of the airlines' control, they may not be required to cover compensation, according to a note issued by Citi on Friday.American Airlines, a British Airways partner across the Atlantic, said almost 20 flights from Thursday were diverted or canceled and that it provided overnight hotels for affected customers. It canceled another close to 20 in or out of London on Friday, she said. The carrier planned to operate its full schedule to and from London on Saturday.European travel and leisure stocks fell on news of the airport closure.Ed Miliband, U.K. energy minister, described the fire as ""catastrophic,"" according to Reuters, adding that the airport's backup generator had been affected by the blaze.Speaking to ITV's ""Good Morning Britain,"" Miliband said the National Grid told him ""it's like a fire they've never, kind of, quite seen anything like the scale of what happened before,"" according to a post by the program on X.Miliband added that the National Grid was trying to use another backup system to restore power to the airport.Power cuts also affected about 16,000 homes around the airport. As of 8 a.m. GMT, electrical supply was restored to all but around 4,900, according to the U.K. energy company Scottish and Southern Electricity Networks.Heathrow Airport has an estimated 1,300 takeoffs and landings at the airport per day, according to its website. It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We've got to understand why this happened, and we've got to work out what the lessons are for the resilience of our infrastructure.""He said the National Grid is looking at whether there is ""sufficient resilience"" in place at the airport, given that the fire also affected a backup generator.""It makes Heathrow look quite vulnerable. And therefore, we've got to learn lessons … about not just Heathrow, but how we protect our major infrastructure,"" Miliband said.Willie Walsh, CEO of the International Air Transport Association, or IATA, an airline industry group, criticized Heathrow Airport for being ""totally dependent on a single power source without an alternative,"" in an online statement, describing it as a ""total planning failure"" by the airport.Walsh questioned who would cover the costs of the resulting travel disruptions.""We must find a fairer allocation of passenger care costs than airlines alone picking up the tab when infrastructure fails,"" he said. ""Until that happens, Heathrow has very little incentive to improve.""Anita Mendiratta, a travel and tourism advisor and founder of consultancy AM&A, described the implications of the fire and closure of the airport as ""very wide.""""What we also need to take into account is over and above passenger traffic, over 4,000 tons of cargo go through Heathrow every single day,"" she told CNBC's ""Squawk Box Europe.""More than 1.4 million tonnes of cargo flew in and out of Heathrow in 2023, according to a post on the airport's website, with 90% of goods transported in the hold of passenger aircraft.Airport officials said they will update travelers ""when more information on the resumption of operations is available.""Travelers can check Heathrow Airport's website or social media platforms, including X, for the latest information.",CNBC,22/03/2025,"[""London's Heathrow Airport closed Friday after a fire at a nearby electrical substation caused a power outage, disrupting travel for tens of thousands of passengers planning to fly in or out of Europe's busiest airport."", 'The first flight since the closure departed late Friday local time, and Heathrow posted on X that it hopes to run a ""full operation"" on Saturday.', 'More than 800 flights were canceled in and out of the airport on Friday, according to flight-tracking site FlightAware, as of the most recent update, upending travel at the major hub and connecting airport.', ""Airlines warned travelers that disruptions could continue into the weekend, and Heathrow posted that travelers shouldn't go to the airport unless advised to do so by their airline."", 'London\'s Metropolitan Police said that while there was ""no indication of foul play,"" the counterterrorism division would now lead the investigation into the fire.', '""Given the location of the substation and the impact this incident has had on critical national infrastructure, the Met\'s Counter Terrorism Command is now leading enquiries,"" the force said in a post on X.""This is due to the specialist resources and capabilities within that command that can assist in progressing this investigation at pace to minimise disruption and identify the cause,"" it said.', '""Heathrow is experiencing a significant power outage across the airport. ...', 'Whilst fire crews are responding to the incident, we do not have clarity on when power may be reliably restored,"" a Heathrow spokesperson said earlier Friday.', 'More than 120 flights were already in the air when the closure was announced and were divertedor returned to their originating airports, according to Flightradar24.', 'Nearly three-quarters of the flights scheduled to depart from Heathrow, or 500 flights, and half of the arrivals destined for the airport, 300 flights, were also scrubbed.', 'Airlines around the world due to operate flights into and out of Heathrow told passengers to stay home.', 'The fire and airport closure left thousands of travelers stranded.', 'British Airways was the most affected airline, with over half of its Friday schedule canceled.', 'The airline said it would offer ""flexible options"" for rebooking to passengers set to travel to or from Heathrow on Friday through the weekend, in an online post.', '""Our teams are currently working hard to review our long-haul schedule as well as the implications for our schedule tomorrow and beyond,"" it said in a statement.', ""As the fire appears to be outside of the airlines' control, they may not be required to cover compensation, according to a note issued by Citi on Friday."", 'American Airlines, a British Airways partner across the Atlantic, said almost 20 flights from Thursday were diverted or canceled and that it provided overnight hotels for affected customers.', 'It canceled another close to 20 in or out of London on Friday, she said.', 'The carrier planned to operate its full schedule to and from London on Saturday.', 'European travel and leisure stocks fell on news of the airport closure.', 'Ed Miliband, U.K. energy minister, described the fire as ""catastrophic,"" according to Reuters, adding that the airport\'s backup generator had been affected by the blaze.', 'Speaking to ITV\'s ""Good Morning Britain,"" Miliband said the National Grid told him ""it\'s like a fire they\'ve never, kind of, quite seen anything like the scale of what happened before,"" according to a post by the program on X.Miliband added that the National Grid was trying to use another backup system to restore power to the airport.', 'Power cuts also affected about 16,000 homes around the airport.', 'As of 8 a.m. GMT, electrical supply was restored to all but around 4,900, according to the U.K. energy company Scottish and Southern Electricity Networks.', 'Heathrow Airport has an estimated 1,300 takeoffs and landings at the airport per day, according to its website.', 'It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We\'ve got to understand why this happened, and we\'ve got to work out what the lessons are for the resilience of our infrastructure.', '""He said the National Grid is looking at whether there is ""sufficient resilience"" in place at the airport, given that the fire also affected a backup generator.', '""It makes Heathrow look quite vulnerable.', 'And therefore, we\'ve got to learn lessons … about not just Heathrow, but how we protect our major infrastructure,"" Miliband said.', 'Willie Walsh, CEO of the International Air Transport Association, or IATA, an airline industry group, criticized Heathrow Airport for being ""totally dependent on a single power source without an alternative,"" in an online statement, describing it as a ""total planning failure"" by the airport.', 'Walsh questioned who would cover the costs of the resulting travel disruptions.', '""We must find a fairer allocation of passenger care costs than airlines alone picking up the tab when infrastructure fails,"" he said. ""', 'Until that happens, Heathrow has very little incentive to improve.', '""Anita Mendiratta, a travel and tourism advisor and founder of consultancy AM&A, described the implications of the fire and closure of the airport as ""very wide.', '""""What we also need to take into account is over and above passenger traffic, over 4,000 tons of cargo go through Heathrow every single day,"" she told CNBC\'s ""Squawk Box Europe.', '""More than 1.4 million tonnes of cargo flew in and out of Heathrow in 2023, according to a post on the airport\'s website, with 90% of goods transported in the hold of passenger aircraft.', 'Airport officials said they will update travelers ""when more information on the resumption of operations is available.', '""Travelers can check Heathrow Airport\'s website or social media platforms, including X, for the latest information.']",-0.0754250057217165,"It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We've got to understand why this happened, and we've got to work out what the lessons are for the resilience of our infrastructure.","""Given the location of the substation and the impact this incident has had on critical national infrastructure, the Met's Counter Terrorism Command is now leading enquiries,"" the force said in a post on X.""This is due to the specialist resources and capabilities within that command that can assist in progressing this investigation at pace to minimise disruption and identify the cause,"" it said.",-0.4159791434512419,"It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We've got to understand why this happened, and we've got to work out what the lessons are for the resilience of our infrastructure.",European travel and leisure stocks fell on news of the airport closure.,2025-03-23
+"Ulta issues weak guidance, citing consumer uncertainty, rising competition and company missteps",https://www.cnbc.com/2025/03/13/ulta-beauty-ulta-earnings-q4-2024.html,2025-03-13T21:29:34+0000,"In this articleUlta Beauty on Thursday issued weak guidance for the year ahead as it navigates a series of internal missteps, rising competition and what it called ""consumer uncertainty.""The retailer, which appointed Kecia Steelman as its new CEO in January, said it's expecting comparable sales to be flat or grow 1% in 2025, while analysts had anticipated they would rise by 1.2%, according to StreetAccount. It's expecting full-year earnings to be between $22.50 and $22.90, lower than expectations of $23.47, according to LSEG. Ulta is the latest company to forecast a rocky year ahead. While it factored uncertain consumer spending into its guidance, the retailer is also navigating a series of company-specific challenges and views 2025 as a transition year. Fixing those issues will cost money, which is part of the reason why it's expecting profits to be lower than Wall Street anticipated in the year ahead.""I've shared our plan to make important guest-facing investments, which are necessary to improve our competitiveness and re-accelerate long term share growth,"" said Steelman on a call with analysts. ""These investments will pressure profitability in 2025 but we believe they are critical to driving long-term sustainable growth in a competitive, innovative category.""Shares rose 6% in extended trading.Here's how the beauty retailer did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Feb. 1 was $393 million, or $8.46 per share, compared with $394 million, or $8.08 per share, a year earlier.Sales dropped to $3.49 billion, down about 2% from $3.55 billion a year earlier. Like other retailers, Ulta benefited from an extra selling week in the year-ago period, which has negatively skewed results. Beauty has been one of retail's brightest spots over the last couple of years, but Ulta has fallen behind due to a series of self-inflicted challenges. The company's business has become more complex as it has grown, and Ulta has stumbled when launching new fulfillment choices, such as buy online, pickup in store, same-day delivery and ship from store.""As a result, our in-store presentation and guest experience today are not as strong as we would like,"" said Steelman. ""These are opportunities well within our control.""In January, Ulta announced that its longtime CEO Dave Kimbell would be replaced by its then-Chief Operating Officer Steelman, who has been with the retailer for more than a decade. Her experience as an operations guru makes her well suited to tackle some of the execution issues that have plagued Ulta.During her first earnings call as CEO, Steelman was candid about what Ulta is doing right and what it's doing wrong. She said the company will spend the next year resetting its business and working to take back the market share that it has lost.""The competitive environment in beauty has never been more intense,"" said Steelman. ""For the first time, we lost market share in the beauty category in 2024.""During Ulta's holiday quarter, comparable sales climbed 1.5%, beating expectations of 0.8% growth, according to StreetAccount. Customers spent more during the quarter, resulting in a 3% rise in average ticket, but fewer shoppers came to Ulta's stores to buy beauty products. Transactions during the quarter decreased by 1.4%. Part of that is likely because so many more companies are expanding into beauty. Not only does it compete with rival Sephora, but also mass retailers like Macy's, Walmart and Amazon have made beauty a cornerstone of their strategies and have all expanded their selections of makeup and skincare products.Last year, Ulta warned of a cooling beauty market, but companies like E.l.f. Beauty and Oddity didn't see similar dynamics, and beauty sales remained strong at retailers like Macy's and Target. In the meantime, Ulta has focused on boosting profitability. It managed to grow earnings during the quarter, even with one less selling week.",CNBC,13/03/2025,"['In this articleUlta Beauty on Thursday issued weak guidance for the year ahead as it navigates a series of internal missteps, rising competition and what it called ""consumer uncertainty.', '""The retailer, which appointed Kecia Steelman as its new CEO in January, said it\'s expecting comparable sales to be flat or grow 1% in 2025, while analysts had anticipated they would rise by 1.2%, according to StreetAccount.', ""It's expecting full-year earnings to be between $22.50 and $22.90, lower than expectations of $23.47, according to LSEG.Ulta is the latest company to forecast a rocky year ahead."", 'While it factored uncertain consumer spending into its guidance, the retailer is also navigating a series of company-specific challenges and views 2025 as a transition year.', ""Fixing those issues will cost money, which is part of the reason why it's expecting profits to be lower than Wall Street anticipated in the year ahead."", '""I\'ve shared our plan to make important guest-facing investments, which are necessary to improve our competitiveness and re-accelerate long term share growth,"" said Steelman on a call with analysts. ""', 'These investments will pressure profitability in 2025 but we believe they are critical to driving long-term sustainable growth in a competitive, innovative category.', '""Shares rose 6% in extended trading.', ""Here's how the beauty retailer did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Feb. 1 was $393 million, or $8.46 per share, compared with $394 million, or $8.08 per share, a year earlier."", 'Sales dropped to $3.49 billion, down about 2% from $3.55 billion a year earlier.', 'Like other retailers, Ulta benefited from an extra selling week in the year-ago period, which has negatively skewed results.', ""Beauty has been one of retail's brightest spots over the last couple of years, but Ulta has fallen behind due to a series of self-inflicted challenges."", ""The company's business has become more complex as it has grown, and Ulta has stumbled when launching new fulfillment choices, such as buy online, pickup in store, same-day delivery and ship from store."", '""As a result, our in-store presentation and guest experience today are not as strong as we would like,"" said Steelman. ""', 'These are opportunities well within our control.', '""In January, Ulta announced that its longtime CEO Dave Kimbell would be replaced by its then-Chief Operating Officer Steelman, who has been with the retailer for more than a decade.', 'Her experience as an operations guru makes her well suited to tackle some of the execution issues that have plagued Ulta.', ""During her first earnings call as CEO, Steelman was candid about what Ulta is doing right and what it's doing wrong."", 'She said the company will spend the next year resetting its business and working to take back the market share that it has lost.', '""The competitive environment in beauty has never been more intense,"" said Steelman. ""', 'For the first time, we lost market share in the beauty category in 2024.""During Ulta\'s holiday quarter, comparable sales climbed 1.5%, beating expectations of 0.8% growth, according to StreetAccount.', ""Customers spent more during the quarter, resulting in a 3% rise in average ticket, but fewer shoppers came to Ulta's stores to buy beauty products."", 'Transactions during the quarter decreased by 1.4%.Part of that is likely because so many more companies are expanding into beauty.', ""Not only does it compete with rival Sephora, but also mass retailers like Macy's, Walmart and Amazon have made beauty a cornerstone of their strategies and have all expanded their selections of makeup and skincare products."", 'Last year, Ulta warned of a cooling beauty market, but companies like E.l.f.', ""Beauty and Oddity didn't see similar dynamics, and beauty sales remained strong at retailers like Macy's and Target."", 'In the meantime, Ulta has focused on boosting profitability.', 'It managed to grow earnings during the quarter, even with one less selling week.']",0.321555487728933,"Beauty and Oddity didn't see similar dynamics, and beauty sales remained strong at retailers like Macy's and Target.","During her first earnings call as CEO, Steelman was candid about what Ulta is doing right and what it's doing wrong.",0.1701443940401077,"""Shares rose 6% in extended trading.","Fixing those issues will cost money, which is part of the reason why it's expecting profits to be lower than Wall Street anticipated in the year ahead.",2025-03-23
+Dollar General store review and closures dent fourth-quarter earnings,https://www.cnbc.com/2025/03/13/dollar-general-dg-q4-2024-earnings.html,2025-03-13T20:07:57+0000,"In this articleDollar General on Thursday reported fiscal fourth-quarter revenue that narrowly beat Wall Street estimates, while a store portfolio review cut into the chain's profit.As part of the reevaluation, the dollar-store chain said it will close 96 Dollar General stores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations in the first quarter. Popshelf stores cater to higher-income shoppers seeking inexpensive products.On the company's earnings call, CEO Todd Vasos warned consumers ""only have enough money for basic essentials"" and that the macro environment isn't likely to improve this year.Shares of the company closed up nearly 7% on Thursday.Here's how the discounter did compared with what Wall Street was expecting for the quarter ended Jan. 31, based on a survey of analysts by LSEG:Fourth-quarter revenue rose 4.5% from $9.86 billion during the same quarter in 2023. Revenue for the full year came in at $40.61 billion, up almost 5% from $38.69 billion in 2023.For fiscal 2025, the chain forecasts revenue to grow between 3.4% and 4.4%, while Wall Street was expecting annual growth of 4.1%, according to LSEG. Dollar General expects earnings per share for the year to come in between $5.10 and $5.80, slightly under the $5.85 anticipated by analysts, according to LSEG.Dollar General reported fourth-quarter net income of $191 million, or 87 cents per share, compared with net income of $402 million, or $1.83 per share, during the same quarter a year prior.The discounter said its portfolio review impacted earnings per share by 81 cents.Operating profit for the quarter fell over 49% year over year to $294 million. The company attributed $232 million in charges to the store closures from the portfolio review as well as Popshelf impairment charges.""As we look to build on the substantial progress we made on our Back to Basics work in fiscal 2024, we believe this review was appropriate to further strengthen the foundation of our business,"" said Vasos in a news release. ""While the number of closings represents less than one percent of our overall store base, we believe this decision better positions us to serve our customers and communities.""Same-store sales, which Dollar General defines as revenue from stores open for at least 13 months, grew 1.2% year over year for the quarter. They're expected to grow 1.2% to 2.2% for the coming fiscal year, the company said.Dollar General announced in December that it was testing same-day delivery for customers. As inflation takes a toll on lower-income consumers, dollar stores like Dollar General and Dollar Tree have faced increased competition from retailers like Walmart with greater e-commerce presences.In January, Dollar General said it would begin selling about 100 new private-brand products, most of which will fall under its Clover Valley label and includes items such as honey mustard and cinnamon rolls, in the first quarter.",CNBC,13/03/2025,"[""In this articleDollar General on Thursday reported fiscal fourth-quarter revenue that narrowly beat Wall Street estimates, while a store portfolio review cut into the chain's profit."", 'As part of the reevaluation, the dollar-store chain said it will close 96Dollar Generalstores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations in the first quarter.', 'Popshelf stores cater to higher-income shoppers seeking inexpensive products.', 'On the company\'s earnings call, CEO Todd Vasos warned consumers ""only have enough money for basic essentials"" and that the macro environment isn\'t likely to improve this year.', 'Shares of the company closed up nearly 7% on Thursday.', ""Here's how the discounter did compared with what Wall Street was expecting for the quarter ended Jan. 31, based on a survey of analysts by LSEG:Fourth-quarter revenue rose 4.5% from $9.86 billion during the same quarter in 2023."", 'Revenue for the full year came in at $40.61 billion, up almost 5% from $38.69 billion in 2023.For fiscal 2025, the chain forecasts revenue to grow between 3.4% and 4.4%, while Wall Street was expecting annual growth of 4.1%, according to LSEG.', 'Dollar General expects earnings per share for the year to come in between $5.10 and $5.80, slightly under the $5.85 anticipated by analysts, according to LSEG.Dollar General reported fourth-quarter net income of $191 million, or 87 cents per share, compared with net income of $402 million, or $1.83 per share, during the same quarter a year prior.', 'The discounter said its portfolio review impacted earnings per share by 81 cents.', 'Operating profit for the quarter fell over 49% year over year to $294 million.', 'The company attributed $232 million in charges to the store closures from the portfolio review as well as Popshelf impairment charges.', '""As we look to build on the substantial progress we made on our Back to Basics work in fiscal 2024, we believe this review was appropriate to further strengthen the foundation of our business,"" saidVasos in a news release. ""', 'While the number of closings represents less than one percent of our overall store base, we believe this decision better positions us to serve our customers and communities.', '""Same-store sales, which Dollar General defines as revenue from stores open for at least 13 months, grew 1.2% year over year for the quarter.', ""They're expected to grow 1.2% to 2.2% for the coming fiscal year, the company said."", 'Dollar General announced in December that it was testing same-day delivery for customers.', 'As inflation takes a toll on lower-income consumers, dollar stores like Dollar General and Dollar Tree have faced increased competition from retailers like Walmart with greater e-commerce presences.', 'In January, Dollar General said it would begin selling about 100 new private-brand products, most of which will fall under its Clover Valley label and includes items such as honey mustard and cinnamon rolls, in the first quarter.']",0.2379552392793426,"As inflation takes a toll on lower-income consumers, dollar stores like Dollar General and Dollar Tree have faced increased competition from retailers like Walmart with greater e-commerce presences.",The company attributed $232 million in charges to the store closures from the portfolio review as well as Popshelf impairment charges.,0.0338358084360758,"Revenue for the full year came in at $40.61 billion, up almost 5% from $38.69 billion in 2023.For fiscal 2025, the chain forecasts revenue to grow between 3.4% and 4.4%, while Wall Street was expecting annual growth of 4.1%, according to LSEG.",Operating profit for the quarter fell over 49% year over year to $294 million.,2025-03-23
+"Spirit Airlines, fresh from bankruptcy, is ready to take on the new Southwest, CEO says",https://www.cnbc.com/2025/03/13/spirit-airlines-ceo-on-new-southwest.html,2025-03-13T19:21:22+0000,"In this articleSpirit Airlines is out of bankruptcy, hitting its target to emerge in the first quarter, after a crippling few years. CEO Ted Christie says the carrier is leaner and ready to take on competitors, including rival Southwest Airlines.Earlier this week, Southwest shocked customers by announcing it will start charging for checked bags for the first time in its half-century of flying, a huge strategy move for the largest domestic U.S. carrier. (There are some exceptions to Southwest's new bag rules, which take effect in late May.)""I think it's going to be painful for a little bit as they find their footing, and we're going to take advantage of that,"" Spirit's Christie said in an interview Thursday.Southwest had been a standout in the U.S. by offering all customers two free checked bags, a perk that has endured recessions, spikes in fuel prices and other crises while most rivals introduced bag fees and raised them every few years.Spirit Airlines, on the other hand, made a la carte pricing common in the U.S., with fees for seat assignments, checked bags and other add-ons. It's a strategy most large airlines, except for Southwest, have copied in one form or another.As Southwest starts charging for bags and introduces its first basic economy class, which doesn't include a seat assignment or allow free changes, Spirit could possibly win over customers, Christie said.Southwest said it would get rid of its single-class open seating model last year.""There at least was an audience of people who were intentionally selecting and flying Southwest because they felt that it was easy. They knew they were going to get two bags,"" Christie said. ""Now that that's no longer the case, it's easy to say that they're going to widen their aperture and they're now going to look around.""Spirit is far smaller than Southwest and even smaller than it was last year, but it competes with the airline in cities like Kansas City, Missouri; Nashville, Tennessee; Columbus, Ohio; and Milwaukee. If customers look on travel sites like Expedia, where Southwest is a new entrant, Spirit's tickets could be cheaper and appear higher in results, Christie said.Other airline executives have also said they expect to win over some Southwest customers.Delta Air Lines President Glen Hauenstein said at a JPMorgan industry conference Tuesday that there are consumers who choose Southwest based on its free bag perk ""and now those customers are up for grabs.""Spirit, for its part, has recently been offering more ticket bundles that include things like seat assignments and luggage.The carrier is now focused on returning to profitability. It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.Spirit has rejected multiple recent merger attempts by fellow budget carrier Frontier Airlines. Christie said Thursday that nothing is ""off the table"" and that a fifth-largest airline in the U.S. as a low-cost carrier makes sense, but that the airline is focused on stabilizing itself after bankruptcy.Through its restructuring process, which started in November, Spirit said it reduced its debt by about $795 million. The transaction converted debt into equity for major creditors. The carrier also received a $350 million equity infusion.Spirit plans to relist its shares on a stock exchange but hasn't set a date yet.",CNBC,13/03/2025,"['In this articleSpirit Airlines is out of bankruptcy, hitting its target to emerge in the first quarter, after a crippling few years.', 'CEO Ted Christie says the carrier is leaner and ready to take on competitors, including rival Southwest Airlines.', 'Earlier this week, Southwest shocked customers by announcing it will start charging for checked bags for the first time in its half-century of flying, a huge strategy move for the largest domestic U.S. carrier. (', 'There are some exceptions to Southwest\'s new bag rules, which take effect in late May.)""I think it\'s going to be painful for a little bit as they find their footing, and we\'re going to take advantage of that,"" Spirit\'s Christie said in an interview Thursday.', 'Southwest had been a standout in the U.S. by offering all customers two free checked bags, a perk that has endured recessions, spikes in fuel prices and other crises while most rivals introduced bag fees and raised them every few years.', 'Spirit Airlines, on the other hand, made a la carte pricing common in the U.S., with fees for seat assignments, checked bags and other add-ons.', ""It's a strategy most large airlines, except for Southwest, have copied in one form or another."", ""As Southwest starts charging for bags and introduces its first basic economy class, which doesn't include a seat assignment or allow free changes, Spirit could possibly win over customers, Christie said."", 'Southwest said it would get rid of its single-class open seating model last year.', '""There at least was an audience of people who were intentionally selecting and flying Southwest because they felt that it was easy.', 'They knew they were going to get two bags,"" Christie said. ""', ""Now that that's no longer the case, it's easy to say that they're going to widen their aperture and they're now going to look around."", '""Spirit is far smaller than Southwest and even smaller than it was last year, but it competes with the airline in cities like Kansas City, Missouri; Nashville, Tennessee; Columbus, Ohio; and Milwaukee.', ""If customers look on travel sites like Expedia, where Southwest is a new entrant, Spirit's tickets could be cheaper and appear higher in results, Christie said."", 'Other airline executives have also said they expect to win over some Southwest customers.', 'Delta Air LinesPresident Glen Hauenstein said at a JPMorgan industry conference Tuesday that there are consumers who choose Southwest based on its free bag perk ""and now those customers are up for grabs.', '""Spirit, for its part, has recently been offering more ticket bundles that include things like seat assignments and luggage.', 'The carrier is now focused on returning to profitability.', 'It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.', 'Spirit has rejected multiple recent merger attempts by fellow budget carrier Frontier Airlines.', 'Christie said Thursday that nothing is ""off the table"" and that a fifth-largest airline in the U.S. as a low-cost carrier makes sense, but that the airline is focused on stabilizing itself after bankruptcy.', 'Through its restructuring process, which started in November, Spirit said it reduced its debt by about $795 million.', 'The transaction converted debt into equity for major creditors.', 'The carrier also received a $350 million equity infusion.', ""Spirit plans to relist its shares on a stock exchange but hasn't set a date yet.""]",0.2022658279187688,"As Southwest starts charging for bags and introduces its first basic economy class, which doesn't include a seat assignment or allow free changes, Spirit could possibly win over customers, Christie said.","It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.",0.6402744325724515,Other airline executives have also said they expect to win over some Southwest customers.,"It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.",2025-03-23
+Boeing Starliner astronauts complete return to Earth in SpaceX capsule after extended stay on ISS,https://www.cnbc.com/2025/03/18/boeing-starliner-astronauts-butch-wilmore-suni-williams-returning-spacex-iss.html,2025-03-19T12:35:13+0000,"In this articleThe two U.S. astronauts who had been at the International Space Station for nine months after their faulty Boeing Starliner capsule returned without them are finally back on Earth.NASA astronauts Butch Wilmore and Suni Williams — as well as fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov — successfully splashed down in a SpaceX Dragon capsule off the coast of Tallahassee, Florida, at 5:57 p.m. ET.Splash downs, or water landings, are simpler for returning to Earth.Hague said he saw a ""capsule full of grins, ear to ear."" The astronauts will head to NASA's Johnson Space Center in Houston for several days of routine health checks before they go home.Wilmore and Williams left Earth in June on a test flight that was originally intended to last about nine days.But their stay was extended after thrusters on Boeing's Starliner capsule ""Calypso"" failed during docking, raising concerns about the ship's ability to carry them home. NASA ultimately sent the capsule back empty after it was docked for about three months at the space station, saying it wanted to ""further understand the root causes"" of the spacecraft's issues.NASA also announced that Wilmore and Williams, who are both veteran astronauts and retired Navy test pilots, would return on a SpaceX Dragon spacecraft instead. The agency adjusted its rotation of astronauts as a result, removing two people from SpaceX's Crew-9 mission — which returned to Earth Tuesday — to make room for Wilmore and Williams.That capsule carrying the two people on Crew-9 arrived at the ISS back in September. Crews rotate on the ISS, which means that each group of astronauts works until the next arrives at the space station, when a ceremonial ""handover"" occurs.NASA had originally planned for SpaceX's Crew-10 mission — which needed to arrive before the Crew-9 members could come back down — to launch in February, but it was delayed by about a month.The rocket carrying the four new crew members of Crew-10 launched on Friday evening, and its capsule docked at the space station about 29 hours later.The Starliner crew flight test was supposed to check a final box for Boeing and deliver a key asset for NASA. The agency was hoping to fulfill its dream of having two competing companies — Boeing and Elon Musk's SpaceX — flying alternating missions to the ISS.Instead, it's unclear what Boeing's future crewed space plans are. The company has lost more than $2 billion on its Starliner spacecraft.""Boeing all the way up to their new CEO Kelly [Ortberg] has been committed to Starliner,"" Steve Stich, manager of NASA's Commercial Crew Program, said in a press briefing Tuesday evening. ""I can see that in the way they're approaching the solution to their problems. … I see them being very committed.""NASA officials in the briefing reiterated that Starliner needs to undergo more testing and left the option open that its next flight could be uncrewed.Wilmore and Williams' journey became entangled in politics once President Donald Trump took office. Trump and Musk, who has become a close advisor to the president, urged a quicker Crew-10 launch and said without evidence that the two astronauts were ""stranded"" on the space station and that the Biden administration had kept them up there for political reasons. NASA had delayed the Crew-10 launch in December to allow more time to process a new Dragon capsule, but decided to use a reusable capsule to cut down on wait time.NASA's plans for returning the two astronauts have remained consistent since the agency announced them in August.During their extended stay, Wilmore and Williams became part of a normal rotation, conducting scientific experiments and routine maintenance as any other astronaut on rotation at the ISS would. Williams also conducted a spacewalk.Williams has said repeatedly that the pair doesn't feel ""abandoned"" at the ISS, but that she was looking forward to returning home to see her family and her two dogs.""It's been a roller coaster for them, probably a little bit more so than for us,"" she told reporters earlier this month.",CNBC,19/03/2025,"['In this articleThe two U.S. astronauts who had been at the International Space Station for nine months after their faulty Boeing Starliner capsule returned without them are finally back on Earth.', 'NASA astronauts Butch Wilmore and Suni Williams — as well as fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov — successfully splashed down in a SpaceX Dragon capsule off the coast of Tallahassee, Florida, at 5:57 p.m. ET.Splash downs, or water landings, are simpler for returning to Earth.', 'Hague said he saw a ""capsule full of grins, ear to ear.""', ""The astronauts will head to NASA's Johnson Space Center in Houston for several days of routine health checks before they go home."", 'Wilmore and Williams left Earth in June on a test flight that was originally intended to last about nine days.', 'But their stay was extended after thrusters on Boeing\'s Starliner capsule ""Calypso""failed during docking, raising concerns about the ship\'s ability to carry them home.', 'NASA ultimately sent the capsule back empty after it was docked for about three months at the space station, saying it wanted to ""further understand the root causes"" of the spacecraft\'s issues.', 'NASA also announced that Wilmore and Williams, who are both veteran astronauts and retired Navy test pilots, would return on a SpaceX Dragon spacecraft instead.', ""The agency adjusted its rotation of astronauts as a result, removing two people from SpaceX's Crew-9 mission — which returned to Earth Tuesday — to make room for Wilmore and Williams."", 'That capsule carrying the two people on Crew-9 arrived at the ISS back in September.', 'Crews rotate on the ISS, which means that each group of astronauts works until the next arrives at the space station, when a ceremonial ""handover"" occurs.', ""NASA had originally planned for SpaceX's Crew-10 mission — which needed to arrive before the Crew-9 members could come back down — to launch in February, but it was delayed by about a month."", 'The rocket carrying the four new crew members of Crew-10 launched on Friday evening, and its capsule docked at the space station about 29 hours later.', 'The Starliner crew flight test was supposed to check a final box for Boeing and deliver a key asset for NASA.', ""The agency was hoping to fulfill its dream of having two competing companies — Boeing andElon Musk's SpaceX — flying alternating missions to the ISS.Instead, it's unclear what Boeing's future crewed space plans are."", 'The company has lost more than $2 billion on its Starliner spacecraft.', '""Boeing all the way up to their new CEO Kelly [Ortberg] has been committed to Starliner,"" Steve Stich, manager of NASA\'s Commercial Crew Program, said in a press briefing Tuesday evening. ""', ""I can see that in the way they're approaching the solution to their problems. …"", 'I see them being very committed.', '""NASA officials in the briefing reiterated that Starliner needs to undergo more testing and left the option open that its next flight could be uncrewed.', ""Wilmore and Williams' journey became entangled in politics once President Donald Trump took office."", 'Trump and Musk, who has become a close advisor to the president, urged a quicker Crew-10 launch and said without evidence that the two astronauts were ""stranded"" on the space station and that the Biden administration had kept them up there for political reasons.', 'NASA had delayed the Crew-10 launch in December to allow more time to process a new Dragon capsule, but decided to use a reusable capsule to cut down on wait time.', ""NASA's plans for returning the two astronauts have remained consistent since the agency announced them in August."", 'During their extended stay, Wilmore and Williams became part of a normal rotation, conducting scientific experiments and routine maintenance as any other astronaut on rotation at the ISS would.', 'Williams also conducted a spacewalk.', 'Williams has said repeatedly that the pair doesn\'t feel ""abandoned"" at the ISS, but that she was looking forward to returning home to see her family and her two dogs.', '""It\'s been a roller coaster for them, probably a little bit more so than for us,"" she told reporters earlier this month.']",0.0429894556632367,"The agency was hoping to fulfill its dream of having two competing companies — Boeing andElon Musk's SpaceX — flying alternating missions to the ISS.Instead, it's unclear what Boeing's future crewed space plans are.","NASA had delayed the Crew-10 launch in December to allow more time to process a new Dragon capsule, but decided to use a reusable capsule to cut down on wait time.",-0.8697511355082194,,The company has lost more than $2 billion on its Starliner spacecraft.,2025-03-23
+"Goodbye to 'bags fly free' on Southwest Airlines, the last freebie in America",https://www.cnbc.com/2025/03/15/goodbye-free-bags-southwest-airlines.html,2025-03-15T12:49:04+0000,"Almost nothing is guaranteed in life. Certainly not weather, electricity, health, tariffs or eggs. But for more than 50 years, American consumers could count on Southwest Airlines letting them check bags for free.Dallas-based Southwest is ending the policy in May. Customers are not happy.""It was the only reason I flew Southwest,"" said MaKensey Kaye Alford, a 21-year-old singer and actress who lives near Birmingham, Alabama.Alford, who is planning to move to New York City later this year, said she would ""definitely"" consider taking another airline now.Southwest's customer-friendly policies have survived recessions, oil price spikes and even the Covid-19 pandemic, winning it years of goodwill and a loyal following, even as it has grown. No other airline carries more people in the United States than Southwest.Now, the airline with an unrivaled streak of profitability (its almost never posted an annual loss) is under pressure to increase profits as big competitors outpace the airline. So it's backpedaling off of years of banishing the thought that they would charge customers for bags, adding to other business-model tweaks like assigned seating that give it more in common with all other airlines.Errol Joseph, 36, a sales consultant who lives in New York and Dallas, said he would now consider flying on Delta Air Lines if the price is the same as Southwest because its planes have seatback screens, unlike Southwest. Joseph added that with baggage policy change, there's ""pretty much no reason to be loyal.""The bag policy had been around longer than most women were able to get credit cards on their own without a man's signature. But those days are over. No more freebies, America.Retailers, restaurants and airlines are among the businesses that have been pulling back on free perks, from complimentary birthday coffees to free package returns, since the pandemic ended. Increasingly, airline perks are only available for loyalty program members or customers who buy a more expensive ticket.Delta offers customers free Wi-Fi on board, but only for those who have signed up for its SkyMiles loyalty program. United Airlines is making a similar move, meanwhile, installing equipment on its planes so customers can soon connect to Elon Musk's Starlink satellite Wi-Fi for free if they are members of the airline's MileagePlus program.It typically takes real financial pressure for companies to return to giveaways, but it's not unprecedented. Starbucks, for example, got rid of upcharges for dairy alternatives to attract customers to try to reverse a sales slump.Southwest's decision pits investors against customers.Activist hedge fund and, as of last year, big Southwest shareholder Elliott Investment Management has been increasing pressure on the airline to raise its profits as rivals like Delta and United have pulled ahead. Elliott pushed for faster changes at the carrier, which has been long hesitant to change, so it could increase revenue. The firm last year won five board seats in a settlement with Southwest.In fact, after Southwest unveiled the bag shift and other policy changes, its shares rose close to 9% this week, while Delta, United and American, each fell more than 11%. CEOs of all the carriers raised concerns about weaker-than-expected travel demand, but Southwest bucked the trend, as it expects the changes to add hundreds of millions of dollars to its bottom line.""Shareholder activism is reshaping LUV into a company that we believe investors will eventually gravitate to,"" wrote Seaport Research Partners airline analyst Dan McKenzie in a note Wednesday as he raised his price target on Southwest's shares to $39 thanks to the policy changes even though ""macro backdrop is glum.""The decision to ditch the two-free-checked bags is part of the airline's big profit-seeking makeover in which it is shedding other long-standing offerings like open-seating and single-class cabins for seat assignments and pricier extra legroom options.It will also start offering a no-frills, no-changes basic economy ticket. Flight credits will also soon have expiration dates. Last month, Southwest had its first-ever mass layoff, cutting about 15% of corporate jobs. It has also slashed unprofitable flying.Air travel hasn't stood still over the last half century, and while it's held onto many core tenets, neither has Southwest. It has gradually made changes over the years, starting to sell things like early boarding, for example. And with air travel breaking new records, assigned seating is necessary for both customers and to make the jobs of employees easier, Southwest executives have argued.Charging for checked bags was something Southwest leaders repeatedly said would cost it more than it could make. (U.S. carriers brought in more than $7 billion in baggage fees in 2023.)In a presentation at an investor day last September, Southwest said it would gain between $1 billion and $1.5 billion from charging for bags but lose $1.8 billion of market share.Southwest executives said that's changed.Hours after breaking the news to customers, CEO Bob Jordan said at a JPMorgan industry conference on Tuesday that ""in contrast to our previous analysis, actual customer booking behavior through our new booking channels such as metasearch, did not show that we are getting the same benefit from our bundled offering with free bags, which has led us to update the assumptions.""Jordan added that the carrier has new executives with ""direct experience implementing bag fees at multiple airlines, and that's also helped further validate the new assumptions.""But thousands joined in consumers' cri de coeur.Southwest posted on Instagram on Thursday, two days after its bombshell announcement, saying ""It's not like we traded Luka,"" a nod to the shocking February trade of Dallas Mavericks superstar Luka Doncic to the Los Angeles Lakers. As of Friday afternoon, the post, which also included information about the change, got more than 14,000 replies, far more than couple of hundred responses the account usually gets.""Taking a screen shot of this as it will be the thumbnail for the harvard business review case study of destroying a brand an entire company,"" replied Instagram user rappid_exposure.Frances Frei, a professor of technology and operations management at Harvard Business School, said that, indeed, no other company is likely as studied as Southwest.""I sure hope this isn't a case of activist investors coming in and insisting on a set of decisions that they won't be around to have to endure,"" she said. ""Great organizations get built over time. It doesn't take very long to ruin an organization, and I really don't want this to be an example of that.""Southwest's two checked bags-fly-free policy officially ends May 28 but for now the slogan is still found on board, printed on cocktail napkins.There will be exceptions: Customers who have a Southwest Airlines co-branded credit card can get one bag for free, and customers in its top tiers of service (read: pricier tickets) or its top-tier loyalty program members will get one to two free checked bags.Whether customers abandon Southwest or are simply reacting to the change remains to be seen.The CEOs of Delta, United and Spirit this week said they see an opportunity to win over customers who might turn away from Southwest.Many travelers won't have a lot of other options, however, with so much consolidation among U.S. carriers and stronghold hubs, though they might have to venture to other airports.Southwest has a roughly 73% share at Baltimore/Washington International Thurgood Marshall Airport, a more than 83% share in San Francisco Bay Oakland International Airport, and 89% share in Long Beach, California, according to aviation-data firm Cirium.The real test, Harvard's Frei said, will be whether the bag change will slow down Southwest's operation, with more customers bringing carry-on bags on board to avoid the checked luggage fees.""I just fear the cost is being underestimated,"" she said. ""It's real operational harm to Southwest if they go slower.""Southwest is already preparing its employees for an onslaught of customer luggage at the gate.Just after its announcement on Tuesday, Southwest told its employees in a memo that customers will ""undoubtedly carry on more luggage than before.""Gate agents will receive mobile bag-tag printers ""reducing the need for string bag tags"" and the company will design new carry-on size guides so customers can see if their luggage fits as a carry on, according to a staff memo sent by Justin Jones, EVP of operations, and Adam Decaire, senior vice president of network planning, a copy of which was seen by CNBC.The airline also plans to speed up retrofits of its Boeing 737-800s and Max aircraft with bigger overhead bins.Frei said not charging for bags, unlike the Costco $1.50 hot dog, is not a loss leader, something a company sells at a loss just to win over customers who might buy more expensive, and profitable, items.As much as it's been beloved by customers, the checked bag policy also had a helped the airline turn planes around faster.""The reason isn't because it's kinder to customers. It's because it's a fast turnaround airline,"" she said. ""If I charge for bags, you will be more likely to carry more luggage on board. And when you carry more luggage on board, I lose my fast turnaround advantage.""Southwest is confident that it's prepared for an increase in gate-checked bags and onboard luggage.""We have a series of work streams that are underway with our with our current operations, to make this not impact our turn times,"" COO Andrew Watterson said in an interview.Time will tell how it shakes out. For now, we have the $1.50 Costco hot dogs.",CNBC,15/03/2025,"['Almost nothing is guaranteed in life.', 'Certainly not weather, electricity, health, tariffs or eggs.', 'But for more than 50 years, American consumers could count on Southwest Airlines letting them check bags for free.', 'Dallas-based Southwest is ending the policy in May.', 'Customers are not happy.', '""It was the only reason I flew Southwest,"" said MaKensey Kaye Alford, a 21-year-old singer and actress who lives near Birmingham, Alabama.', 'Alford, who is planning to move to New York City later this year, said she would ""definitely"" consider taking another airline now.', ""Southwest's customer-friendly policies have survived recessions, oil price spikes and even the Covid-19 pandemic, winning it years of goodwill and a loyal following, even as it has grown."", 'No other airline carries more people in the United States than Southwest.', 'Now, the airline with an unrivaled streak of profitability (its almost never posted an annual loss) is under pressure to increase profits as big competitors outpace the airline.', ""So it's backpedaling off of years of banishing the thought that they would charge customers for bags, adding to other business-model tweaks like assigned seating that give it more in common with all other airlines."", 'Errol Joseph, 36, a sales consultant who lives in New York and Dallas, said he would now consider flying on Delta Air Lines if the price is the same as Southwest because its planes have seatback screens, unlike Southwest.', 'Joseph added that with baggage policy change, there\'s ""pretty much no reason to be loyal.', '""The bag policy had been around longer than most women were able to get credit cards on their own without a man\'s signature.', 'But those days are over.', 'No more freebies, America.', 'Retailers, restaurants and airlines are among the businesses that have been pulling back on free perks, from complimentary birthday coffees to free package returns, since the pandemic ended.', 'Increasingly, airline perks are only available for loyalty program members or customers who buy a more expensive ticket.', 'Delta offers customers free Wi-Fi on board, but only for those who have signed up for its SkyMiles loyalty program.', ""United Airlines is making a similar move, meanwhile, installing equipment on its planes so customers can soon connect to Elon Musk's Starlink satellite Wi-Fi for free if they are members of the airline's MileagePlus program."", ""It typically takes real financial pressure for companies to return to giveaways, but it's not unprecedented."", 'Starbucks, for example, got rid of upcharges for dairy alternatives to attract customers to try to reverse a sales slump.', ""Southwest's decision pits investors against customers."", 'Activist hedge fund and, as of last year, big Southwest shareholder Elliott Investment Management has been increasing pressure on the airline to raise its profits as rivals like Delta and United have pulled ahead.', 'Elliott pushed for faster changes at the carrier, which has been long hesitant to change, so it could increase revenue.', 'The firm last year won five board seats in a settlement with Southwest.', 'In fact, after Southwest unveiled the bag shift and other policy changes, its shares rose close to 9% this week, while Delta, United and American, each fell more than 11%.', 'CEOs of all the carriers raised concerns about weaker-than-expected travel demand, but Southwest bucked the trend, as it expects the changes to add hundreds of millions of dollars to its bottom line.', '""Shareholder activism is reshaping LUV into a company that we believe investors will eventually gravitate to,"" wrote Seaport Research Partners airline analyst Dan McKenzie in a note Wednesday as he raised his price target on Southwest\'s shares to $39 thanks to the policy changes even though ""macro backdrop is glum.', '""The decision to ditch the two-free-checked bags is part of the airline\'s big profit-seeking makeover in which it is shedding other long-standing offerings like open-seating and single-class cabins for seat assignments and pricier extra legroom options.', 'It will also start offering a no-frills, no-changes basic economy ticket.', 'Flight credits will also soon have expiration dates.', 'Last month, Southwest had its first-ever mass layoff, cutting about 15% of corporate jobs.', 'It has also slashed unprofitable flying.', ""Air travel hasn't stood still over the last half century, and while it's held onto many core tenets, neither has Southwest."", 'It has gradually made changes over the years, starting to sell things like early boarding, for example.', 'And with air travel breaking new records, assigned seating is necessary for both customers and to make the jobs of employees easier, Southwest executives have argued.', 'Charging for checked bags was something Southwest leaders repeatedly said would cost it more than it could make. (', 'U.S. carriers brought in more than $7 billion in baggage fees in 2023.)In a presentation at an investor day last September, Southwest said it would gain between $1 billion and $1.5 billion from charging for bags but lose $1.8 billion of market share.', ""Southwest executives said that's changed."", 'Hours after breaking the news to customers, CEO Bob Jordan said at a JPMorgan industry conference on Tuesday that ""in contrast to our previous analysis, actual customer booking behavior through our new booking channels such as metasearch, did not show that we are getting the same benefit from our bundled offering with free bags, which has led us to update the assumptions.', '""Jordan added that the carrier has new executives with ""direct experience implementing bag fees at multiple airlines,and that\'s also helped further validate the new assumptions.', '""But thousands joined in consumers\' cri de coeur.', 'Southwest posted on Instagram on Thursday, two days after its bombshell announcement, saying ""It\'s not like we traded Luka,"" a nod to the shocking February trade of Dallas Mavericks superstarLuka Doncic to the Los Angeles Lakers.', 'As of Friday afternoon, the post, which also included information about the change, got more than 14,000 replies, far more than couple of hundred responses the account usually gets.', '""Taking a screen shot of this as it will be the thumbnail for the harvard business review case study of destroying a brand an entire company,"" replied Instagram user rappid_exposure.', 'Frances Frei, a professor of technology and operations management at Harvard Business School, said that, indeed, no other company is likely as studied as Southwest.', '""I sure hope this isn\'t a case of activist investors coming in and insisting on a set of decisions that they won\'t be around to have to endure,"" she said. ""', 'Great organizations get built over time.', ""It doesn't take very long to ruin an organization, and I really don't want this to be an example of that."", '""Southwest\'s two checked bags-fly-free policy officially ends May 28 but for now the slogan is still found on board, printed on cocktail napkins.', 'There will be exceptions: Customers who have a SouthwestAirlinesco-branded credit card can get one bag for free, and customersin its top tiers of service (read: pricier tickets) or its top-tier loyalty program members will get one to two free checked bags.', 'Whether customers abandon Southwest or are simply reacting to the change remains to be seen.', 'The CEOs of Delta, United and Spirit this week said they see an opportunity to win over customers who might turn away from Southwest.', ""Many travelers won't have a lot of other options, however, with so much consolidation among U.S. carriers and stronghold hubs, though they might have to venture to other airports."", 'Southwest has a roughly 73% share at Baltimore/Washington International Thurgood Marshall Airport, a more than 83% share in San Francisco Bay Oakland International Airport, and 89% share in Long Beach, California, according to aviation-data firm Cirium.', ""The real test, Harvard's Frei said, will be whether the bag change will slow down Southwest's operation, with more customers bringing carry-on bags on board to avoid the checked luggage fees."", '""I just fear the cost is being underestimated,"" she said. ""', ""It's real operational harm to Southwest if they go slower."", '""Southwest is already preparing its employees for an onslaught of customer luggage at the gate.', 'Just after its announcement on Tuesday, Southwest told its employees in a memo that customers will ""undoubtedly carry on more luggage than before.', '""Gate agents will receive mobile bag-tag printers ""reducing the need for string bag tags"" and the company will design new carry-on size guides so customers can see if their luggage fits as a carry on, according to a staff memo sent by Justin Jones, EVP of operations, and Adam Decaire, senior vice president of network planning, a copy of which was seen by CNBC.The airline also plans to speed up retrofits of itsBoeing737-800s and Max aircraft with bigger overhead bins.', 'Frei said not charging for bags, unlike the Costco $1.50 hot dog, is not a loss leader, something a company sells at a loss just to win over customers who might buy more expensive, and profitable, items.', ""As much as it's been beloved by customers, the checked bag policy also had a helped the airline turn planes around faster."", '""The reason isn\'t because it\'s kinder to customers.', 'It\'s because it\'s a fast turnaround airline,"" she said. ""', 'If I charge for bags, you will be more likely to carry more luggage on board.', 'And when you carry more luggage on board, I lose my fast turnaround advantage.', '""Southwest is confident that it\'s prepared for an increase in gate-checked bags and onboard luggage.', '""We have a series of work streams that are underway with our with our current operations, to make this not impact our turn times,"" COO Andrew Watterson said in an interview.', 'Time will tell how it shakes out.', 'For now, we have the $1.50 Costco hot dogs.']",0.1903498908221562,"There will be exceptions: Customers who have a SouthwestAirlinesco-branded credit card can get one bag for free, and customersin its top tiers of service (read: pricier tickets) or its top-tier loyalty program members will get one to two free checked bags.","""I just fear the cost is being underestimated,"" she said. """,0.1440805991490682,"Southwest's customer-friendly policies have survived recessions, oil price spikes and even the Covid-19 pandemic, winning it years of goodwill and a loyal following, even as it has grown.",It has also slashed unprofitable flying.,2025-03-23
+"Dollar General CEO warns consumers are cash-strapped, and says 2025 won't be better",https://www.cnbc.com/2025/03/13/dollar-general-ceo-consumer-warning.html,2025-03-13T20:08:00+0000,"In this articleDollar General CEO Todd Vasos said on Thursday that inflation continues to hurt the discounter's customers and that the macroeconomic environment won't improve this year.On the company's fourth-quarter earnings call, Vasos said customers are expecting value and convenience ""more than ever"" from the dollar-store chain.""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation. Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" Vasos said. ""As we enter 2025, we are not anticipating improvement in the macro environment, particularly for our core customer.""Dollar General's core consumer is ""always strained"" due to their economic status, but also resourceful, Vasos said.""We've started to see where [our customer is] getting her sea legs, if you will, on the additional inflation that's been very sticky out there, and she's starting to understand her budgets even more,"" Vasos said.Part of the uncertainty, Vasos said, stems from the potential impact of President Donald Trump's tariffs on the consumer.When Trump imposed tariffs during his first term in office in 2018 and 2019, Dollar General had to raise some prices in line with others in the industry, Vasos said. But the general store was able to mitigate the impact back then and is ""well positioned"" to do so again this year, he said.""Given the already stressed financial condition of our core customer, we are closely monitoring these and any other potential economic headwinds, including any changes to government entitlement programs,"" Vasos said.CFO Kelly Dilts said the company's 2025 guidance factors in continued economic pressure on the consumer, but does not account for further changes to tariff policy or government initiatives like the Supplemental Nutrition Assistance Program, which subsidizes food for low-income Americans.For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction. Customer traffic fell 1.1% during the period, ""impacted by ongoing financial pressures of our core consumer,"" Vasos said.Alongside its fourth-quarter earnings, Dollar General said Thursday it would close 96 Dollar General stores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations this year. Popshelf primarily serves higher-income shoppers with lower-priced products.Shares of Dollar General closed up nearly 7% on Thursday.",CNBC,13/03/2025,"[""In this articleDollar General CEO Todd Vasos said on Thursday that inflation continues to hurt the discounter's customers and that the macroeconomic environment won't improve this year."", 'On the company\'s fourth-quarter earnings call, Vasos said customers are expecting value and convenience ""more than ever"" from the dollar-store chain.', '""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation.', 'Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" Vasos said. ""', 'As we enter 2025, we are not anticipating improvement in the macro environment, particularly for our core customer.', '""Dollar General\'s core consumer is ""always strained"" due to their economic status, but also resourceful, Vasos said.', '""We\'ve started to see where [our customer is] getting her sea legs, if you will, on the additional inflation that\'s been very sticky out there, and she\'s starting to understand her budgets even more,"" Vasos said.', ""Part of the uncertainty, Vasos said, stems from the potential impact of President Donald Trump's tariffs on the consumer."", 'When Trump imposed tariffs during his first term in office in 2018 and 2019, Dollar General had to raise some prices in line with others in the industry, Vasos said.', 'But the general store was able to mitigate the impact back then and is ""well positioned"" to do so again this year, he said.', '""Given the already stressed financial condition of our core customer, we are closely monitoring these and any other potential economic headwinds, including any changes to government entitlement programs,"" Vasos said.', ""CFO Kelly Dilts said the company's 2025 guidance factors in continued economic pressure on the consumer, but does not account for further changes to tariff policy or government initiatives like the Supplemental Nutrition Assistance Program, which subsidizes food for low-income Americans."", 'For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction.', 'Customer traffic fell 1.1% during the period, ""impacted by ongoing financial pressures of our core consumer,""Vasos said.', 'Alongside its fourth-quarter earnings, Dollar General said Thursday it would close 96Dollar Generalstores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations this year.', 'Popshelf primarily serves higher-income shopperswith lower-priced products.', 'Shares of Dollar General closed up nearly 7% on Thursday.']",-0.0437389128385915,"For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction.","""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation.",-0.0899762565439397,"For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction.","Customer traffic fell 1.1% during the period, ""impacted by ongoing financial pressures of our core consumer,""Vasos said.",2025-03-23
+Auto suppliers face more dire circumstances than automakers amid Trump tariffs,https://www.cnbc.com/2025/03/19/auto-suppliers-automakers-trump-tariffs.html,2025-03-19T19:14:58+0000,"DETROIT — President Donald Trump's proposed tariffs on goods from Mexico and Canada would hit automotive suppliers harder than automakers, but their problems could quickly have ripple effects on the broader industry. Most vehicles produced in North America meet the requirements for free trade under the United States-Mexico-Canada Agreement, but far fewer individual parts meet the stringent standards under the 2020 North American trade deal that was negotiated by Trump, according to federal trade reporting data.USMCA compliance is important for automakers and suppliers. Products that meet the standards, which most notably include rules about where a part or material can be produced, are currently able to avoid 25% North American tariffs until the expanded levies are set to take effect April 2.Companies are lobbying the Trump administration to continue allowing parts and vehicles that meet USMCA regulations to remain tariff-free. Such tariffs are added challenges for a less robust post-Covid automotive supply chain that continues to face high interest rates, labor shortages and lower profits. There are far more suppliers than automakers, many of which may only produce a few parts that could cause production disruptions if they are forced to close due to higher costs.Shares of many larger publicly traded suppliers, such as American Axle & Manufacturing Holdings, Magna International and Adient, are down double digits this year amid the tariffs. Others such as Aptiv and Lear Corp. are roughly flat.""There's clearly not the profitability in the supply chain to absorb the tariffs,"" Collin Shaw, president of the MEMA Original Equipment Suppliers association, told CNBC. ""Suppliers are more at risk, seeing that a lower percentage of suppliers aren't USMCA compliant.""Roughly 63% of motor vehicle parts imported from Mexico into the United States in 2024 were complaint with USMCA standards. That compares with 92.1% of motor vehicles.For Canada, 74.6% of motor vehicle parts and 96.9% of vehicles were imported tariff-free under USMCA in 2024. That includes 170 Canadian parts suppliers that operate facilities in 26 states, according to the Automotive Parts Manufacturers' Association in Canada.The vehicle and parts compliancy comes from publicly available trade data from the U.S. International Trade Commission based on the value of the imported goods for consumptiom. A small minority of the non-compliant goods that didn't claim a trade program such as USMCA may have been imported tariff-free if they were being sold to the government or for other reasons. To be USMCA compliant, 75% of vehicle content must be sourced from the U.S., Canada or Mexico, with additional requirements, such as that 40% of core parts and 70% of steel and aluminum must be sourced regionally.""I think that if we get auto tariffs that shut down the industry, many interests in our business are going to end up in court looking for an emergency state,"" said Flavio Volpe, an advocate for Canada's auto industry who leads the APMA. ""Everybody's nervous.""Shaw, whose organization represents more than 800 auto suppliers in North America, said the supply chain is ""resilient"" but there's also a ""fragility"" that makes major shifts in policy difficult to address quickly.""What I'd say is very difficult, is the whipsaw back and forth,"" Shaw said. ""The notion that we can very easily bring these things back — it can be done. It takes time though.""In general, Shaw said it can take years to move a plant and build a new one. Permitting for a new plant can take six to 12 months. It can take another 12 months to 18 months, if not more, to build the facility, followed by another year or more in tooling and ramping up production.The parts that are produced for a vehicle impact whether an entire car or truck is compliant, but many major parts such as engines and transmissions are assembled locally, assisting compliancy for the finished product. The same cannot be said for parts such as wire harnesses, batteries and other smaller components.For example, BMW said its vehicles being produced in Mexico are not USMCA compliant, largely because the engines for the vehicles are imported from Europe. Engines and transmissions tend to cross borders less often than a part that would go into one of those main components.""This a complicated agreement,"" said Kristin Dziczek, automotive policy advisor for the Federal Reserve Bank of Chicago, during its annual auto conference last month in Detroit. ""So there are different categories here of components and parts and vehicles and different thresholds of what they had to phase up to for having USMCA sourcing in order to get a zero tariff for trade within the U.S.""Since Trump's USMCA went into effect and replaced the North American Free Trade Agreement in 2020, compliancy for both motor vehicles and parts from Mexico has notably declined, meaning more tariffs are likely being paid. Duty-free vehicles are down from 99.7% in 2019 to 92.1% in 2024, while vehicle parts are down from about 75% in 2019 to 62.5% in 2024. Canada's free trade-compliant motor vehicle parts have decreased from 83.1% in 2019 to about 75% in 2024. Tariff-free vehicle imports from Canada are slightly down from 98.8% in 2019 to about 97% last year.Auto suppliers have been adamant that they will not or cannot taken on the 25% increased costs on non-compliant USMCA parts — tariffs that could be in addition to levies on steel and aluminum and other materials.Swamy Kotagiri is CEO of Canada-based Magna, a major global supplier for automakers that also does some contract manufacturing for automakers. He described the proposed tariffs as being ""absolutely disruptive to the industry.""""This is the industry issue. I believe very strongly that it cannot be addressed by any one constituent,"" Kotagiri, an auto industry veteran, told CNBC during an interview last month. ""Given the magnitude that is being discussed and talked about, it absolutely not possible for the suppliers to take on this.""A survey earlier this month of 139 suppliers conducted by MEMA found the majorities of parts makers were affected by the steel and aluminum tariffs, with 97% expressing concerns about tariff-induced financial distress at smaller, ""subtier"" suppliers.Such suppliers typically make smaller parts but can easily cause disruptions in the supply chain if their production is impacted. The importance of such suppliers was prominent during the coronavirus pandemic, when global supply chains were routinely being upended due to parts disruptions.Executives with France-based auto supplier Forvia earlier this month said the company and its customers, including automakers, have been planning different contingency plans for the tariffs.""The whole supply chain cannot swallow 25%,"" Forvia CEO Martin Fischer said during a media event. ""Cars will get more expensive for consumers if tariffs continue for a long time. The industry cannot ship at losses and swallow 25%.""",CNBC,19/03/2025,"[""DETROIT —President Donald Trump's proposed tariffson goods from Mexico and Canadawould hit automotive suppliers harder than automakers, but their problems could quickly have ripple effects on the broader industry."", 'Most vehicles produced in North America meet the requirements for free trade under theUnited States-Mexico-Canada Agreement,but far fewer individual parts meet the stringent standards under the 2020 North American trade deal that was negotiated by Trump, according to federal trade reporting data.', 'USMCA compliance is important for automakers and suppliers.', 'Products that meet the standards, which most notably include rules about where a part or material can be produced, are currently able to avoid 25% North American tariffs untiltheexpanded levies are set to take effect April 2.Companies are lobbying the Trump administration to continue allowing parts and vehicles that meet USMCA regulations to remain tariff-free.', 'Such tariffs are added challenges for a less robust post-Covid automotive supply chain that continues to face high interest rates, labor shortages and lower profits.', 'There are far more suppliers than automakers, many of which may only produce a few parts that could cause production disruptions if they are forced to close due to higher costs.', 'Shares of many larger publicly traded suppliers, such as American Axle & Manufacturing Holdings, Magna International and Adient, are down double digits this year amid the tariffs.', 'Others such as Aptiv and Lear Corp. are roughly flat.', '""There\'s clearly not the profitability in the supply chain to absorb the tariffs,"" Collin Shaw, president of the MEMA Original Equipment Suppliers association, told CNBC. ""', ""Suppliers are more at risk, seeing that a lower percentage of suppliers aren't USMCA compliant."", '""Roughly 63% of motor vehicle parts imported from Mexico into the United States in 2024 were complaint with USMCA standards.', 'That compares with 92.1% of motor vehicles.', ""For Canada, 74.6% of motor vehicle parts and 96.9% of vehicles were imported tariff-free under USMCA in 2024.That includes 170 Canadian parts suppliers that operate facilities in 26 states, according to theAutomotive Parts Manufacturers' Associationin Canada."", 'The vehicle and parts compliancy comes from publicly available trade data from the U.S. International Trade Commission based on the value of the imported goods for consumptiom.', ""A small minority of the non-compliant goods that didn't claim a trade program such as USMCA may have been imported tariff-free if they were being sold to the government or for other reasons."", 'To be USMCA compliant, 75% of vehicle content must be sourced from the U.S., Canada or Mexico, with additional requirements, such as that 40% of core parts and 70% of steel and aluminum must be sourced regionally.', '""I think that if we get auto tariffs that shut down the industry, many interests in our business are going to end up in court looking for an emergency state,"" said Flavio Volpe, an advocate for Canada\'s auto industry who leads the APMA. ""', ""Everybody's nervous."", '""Shaw, whose organization represents more than 800 auto suppliers in North America, said the supply chain is ""resilient"" but there\'s also a ""fragility"" that makes major shifts in policy difficult to address quickly.', '""What I\'d say is very difficult, is the whipsaw back and forth,"" Shaw said. ""', 'The notion that we can very easily bring these things back — it can be done.', 'It takes time though.', '""In general, Shaw said it can take years to move a plant and build a new one.', 'Permitting for a new plant can take six to 12 months.', 'It can take another 12 months to 18 months, if not more, to build the facility, followed by another year or more in tooling and ramping up production.', 'The parts that are produced for a vehicle impact whether an entire car or truck is compliant, but many major parts such as engines and transmissions are assembled locally, assisting compliancy for the finished product.', 'The same cannot be said for parts such as wire harnesses, batteries and other smaller components.', 'For example, BMW said its vehicles being produced in Mexico are not USMCA compliant, largely because the engines for the vehicles are imported from Europe.', 'Engines and transmissions tend to cross borders less often than a part that would go into one of those main components.', '""This a complicated agreement,"" said Kristin Dziczek, automotive policy advisor for the Federal Reserve Bank of Chicago, during its annual auto conference last month in Detroit. ""', 'So there are different categories here of components and parts and vehicles and different thresholds of what they had to phase up to for having USMCA sourcing in order to get a zero tariff for trade within the U.S.""Since Trump\'s USMCA went into effect and replaced the North American Free Trade Agreement in 2020, compliancy for both motor vehicles and parts from Mexico has notably declined, meaning more tariffs are likely being paid.', ""Duty-free vehicles are down from 99.7% in 2019 to 92.1% in 2024, while vehicle parts are down from about 75% in 2019 to 62.5% in 2024.Canada's free trade-compliant motor vehicleparts havedecreased from 83.1% in 2019 to about 75% in 2024."", 'Tariff-free vehicle importsfrom Canadaare slightly down from 98.8% in 2019 to about 97% last year.', 'Auto suppliers have been adamant that they will not or cannot taken on the 25% increased costs on non-compliant USMCA parts — tariffs that could be in addition to levies on steel and aluminum and other materials.', 'Swamy Kotagiri is CEO of Canada-based Magna, a major global supplier for automakers that also does some contract manufacturing for automakers.', 'He described the proposed tariffs as being ""absolutely disruptive to the industry.', '""""This is the industry issue.', 'I believe very strongly that it cannot be addressed by any one constituent,"" Kotagiri, an auto industry veteran, told CNBC during an interview last month. ""', 'Given the magnitude that is being discussed and talked about, it absolutely not possible for the suppliers to take on this.', '""A survey earlier this month of 139 suppliers conducted by MEMA found the majorities of parts makers were affected by the steel and aluminum tariffs, with 97% expressing concerns about tariff-induced financial distress at smaller, ""subtier"" suppliers.', 'Such suppliers typically make smaller parts but can easily cause disruptions in the supply chain if their production is impacted.', 'The importance of such suppliers was prominent during the coronavirus pandemic, when global supply chains were routinely being upended due to parts disruptions.', 'Executives with France-based auto supplier Forvia earlier this month said the company and its customers, including automakers, have been planning different contingency plans for the tariffs.', '""The whole supply chain cannot swallow 25%,"" Forvia CEO Martin Fischer said during a media event. ""', 'Cars will get more expensive for consumers if tariffs continue for a long time.', 'The industry cannot ship at losses and swallow 25%.""']",0.0861533070293069,"Duty-free vehicles are down from 99.7% in 2019 to 92.1% in 2024, while vehicle parts are down from about 75% in 2019 to 62.5% in 2024.Canada's free trade-compliant motor vehicleparts havedecreased from 83.1% in 2019 to about 75% in 2024.","There are far more suppliers than automakers, many of which may only produce a few parts that could cause production disruptions if they are forced to close due to higher costs.",-0.7869567573070526,That compares with 92.1% of motor vehicles.,Tariff-free vehicle importsfrom Canadaare slightly down from 98.8% in 2019 to about 97% last year.,2025-03-23
+NBA may bring back iconic highlight show 'NBA Inside Stuff',https://www.cnbc.com/2025/03/19/nba-may-bring-back-nba-inside-stuff-highlight-show.html,2025-03-20T16:35:19+0000,"The NBA is quietly preparing to bring back its iconic show ""NBA Inside Stuff.""On Monday, the league filed two trademark applications for ""NBA Inside Stuff,"" the name of the long-running NBA highlight show that has aired on three different networks during its history — most notably from 1990 to 2006 on NBC and ABC. The show was briefly resurrected from 2013 to 2016 on NBA TV.NBC is considering bringing back a ""refreshed version"" of the program, according to a person familiar with the matter. NBC will once again air live NBA games next season after losing the broadcast rights in 2002.No decision has been made on whether to renew the show, the people said. An NBC spokesman declined to comment.The NBA did not immediately respond to a request to comment. However, a source close to the league said the filing is part of the NBA's routine trademark process.The league previously owned multiple ""NBA Inside Stuff"" trademark registrations, but let them lapse, likely because it was no longer using the trademark.""NBA Inside Stuff"" was initially hosted by sportscaster Ahmad Rashad, who aimed to popularize and humanize NBA players with behind-the-scenes access. The show's ""Rewind"" segment, featuring game highlights and Rashad yelling out days of the week, became a staple of the show.The league's two trademark filings indicate the league aims to use the ""NBA Inside Stuff"" name for a television show and to produce branded merchandise.Josh Gerben, a trademark attorney at Gerben IP, said television doesn't necessarily mean linear TV. It could be in the form of a YouTube or TikTok show.""This is great intellectual property for the league,"" Gerben said. ""I think it makes a lot of business sense right now.""The league would likely try to license the IP to one of its media partners, Gerben said.In July, the NBA signed a 11-year, $76 billion media rights deal with The Walt Disney Company, NBCUniversal and Amazon that kicks off next season.NBC may be trying to tap into nostalgia from its past run showing NBA games. In November, composer John Tesh revealed on CNBC that he's working with NBC to bring back his famous ""Roundball Rock"" song.Disclosure: NBCUniversal is the parent company of CNBC.",CNBC,20/03/2025,"['The NBA is quietly preparing to bring back its iconic show ""NBA Inside Stuff.', '""On Monday, the league filed two trademark applications for ""NBA Inside Stuff,"" the name of the long-running NBA highlight show that has aired on three different networks during its history — most notably from 1990 to 2006 on NBC and ABC.', 'The show was briefly resurrected from 2013 to 2016 on NBA TV.NBC is considering bringing back a ""refreshed version"" of the program, according to a person familiar with the matter.', 'NBC will once again air live NBA games next season after losing the broadcast rights in 2002.No decision has been made on whether to renew the show, the people said.', 'An NBC spokesman declined to comment.', 'The NBA did not immediately respond to a request to comment.', ""However, a source close to the league said the filing is part of the NBA's routine trademark process."", 'The league previously owned multiple ""NBA Inside Stuff"" trademark registrations, but let them lapse, likely because it was no longer using the trademark.', '""NBA Inside Stuff"" was initially hosted by sportscaster Ahmad Rashad, who aimed to popularize and humanize NBA players with behind-the-scenes access.', 'The show\'s ""Rewind"" segment, featuring game highlights and Rashad yelling out days of the week, became a staple of the show.', 'The league\'s two trademark filings indicate the league aims to use the ""NBA Inside Stuff"" name for a television show and to produce branded merchandise.', ""Josh Gerben, a trademark attorney at Gerben IP, said television doesn't necessarily mean linear TV."", 'It could be in the form of a YouTube or TikTok show.', '""This is great intellectual property for the league,"" Gerben said. ""', 'I think it makes a lot of business sense right now.', '""The league would likely try to license the IP to one of its media partners, Gerben said.', 'In July, the NBA signed a 11-year, $76 billion media rights deal with The Walt Disney Company, NBCUniversal and Amazon that kicks off next season.', 'NBC may be trying to tap into nostalgia from its past run showing NBA games.', 'In November, composer John Tesh revealed on CNBC that he\'s working with NBC to bring back his famous ""Roundball Rock"" song.', 'Disclosure: NBCUniversal is the parent company of CNBC.']",0.0435575810450199,"""This is great intellectual property for the league,"" Gerben said. ""","The league previously owned multiple ""NBA Inside Stuff"" trademark registrations, but let them lapse, likely because it was no longer using the trademark.",0.9950615962346396,I think it makes a lot of business sense right now.,,2025-03-23
+DC housing market shows signs of cracks amid mass federal layoffs,https://www.cnbc.com/2025/03/13/washington-dc-housing-market-shows-cracks-amid-federal-layoffs.html,2025-03-13T20:11:17+0000,"The supply of homes for sale across the nation always rises ahead of the busy spring market, but the Washington, D.C., metropolitan area is seeing an outsized increase, according to Realtor.com.Inventory gains in the region, which includes the District as well as Maryland and Virginia suburbs, began to accelerate in January and February, up 35.9% and 41% year over year, respectively. Inventory in the area from June to December had already been 20% to 30% higher than the previous year, but the increases accelerated even further in recent months.As of last week, active listings were up 56% compared with the same week one year ago.""The adjustment period following federal layoffs and funding cuts has likely put some Washington D.C. home searches on hold, both for those whose jobs have been directly impacted and those who may be concerned about what's ahead, and the data hints at these challenges,"" wrote Danielle Hale, chief economist for Realtor.com, in a release.For comparison, active listings nationally were up 28% last week compared with the same week in 2024, according to Realtor.com, coinciding with a decline in mortgage rates. The average rate on the popular 30-year fixed loan was around 7.25% in mid-January but fell steadily to 6.82% now, according to Mortgage News Daily.The inventory gains in the D.C. area are not all due to people putting their homes on the market. New listings rose, but by much less than overall inventory, so the increase in overall supply is a combination of new listings and slowing buyer activity.New listings were 24% higher year over year last week, contributing to the increase in for-sale inventory and dropping median days on market, Realtor.com found. New listings year to date are 11.9% above the year-ago level, but still 12.8% below where they were in 2022, according to Hale.There also may be an outsized bump in inventory due to newly built condominiums and townhomes coming on the market now. Construction in the D.C. area has been very active over the past few years. The share of new construction listings is tilted much more toward condos than it was five years ago.As for prices, the median list price in the D.C. metro area was down 1.6% year over year last week. For context, in the fourth quarter of last year, that median list price was down 1.5% annually.The median list price nationally, as of last week, was down 0.2%, though it is heavily skewed by the type of home for sale. Controlling for the size of home, the median list price per square foot increased 1.2% annually, which means there are more smaller or lower-end homes on the market compared to last year. ""While D.C. has the largest share of federal workers in the country, other highly federally employed markets could see similar shifts in the coming weeks or months,"" said Hale. ""While I expect many households will choose to stay in the area and pivot to find new job opportunities, some will likely choose to leave and retire or find a job elsewhere.""",CNBC,13/03/2025,"['The supply of homes for sale across the nation always rises ahead of the busy spring market, but the Washington, D.C., metropolitan area is seeing an outsized increase, according to Realtor.com.', 'Inventory gains in the region, which includes the District as well as Maryland and Virginia suburbs, began to accelerate in January and February, up 35.9% and 41% year over year, respectively.', 'Inventory in the area from June to December had already been 20% to 30% higher than the previous year, but the increases accelerated even further in recent months.', 'As of last week, active listings were up 56% compared with the same week one year ago.', '""The adjustment period following federal layoffs and funding cuts has likely put some Washington D.C. home searches on hold, both for those whose jobs have been directly impacted and those who may be concerned about what\'s ahead, and the data hints at these challenges,"" wrote Danielle Hale, chief economist for Realtor.com, in a release.', 'For comparison, active listings nationally were up 28% last week compared with the same week in 2024, according to Realtor.com, coinciding with a decline in mortgage rates.', 'The average rate on the popular 30-year fixed loan was around 7.25% in mid-January but fell steadily to 6.82% now, according to Mortgage News Daily.', 'The inventory gains in the D.C. area are not all due to people putting their homes on the market.', 'New listings rose, but by much less than overall inventory, so the increase in overall supply is a combination of new listings and slowing buyer activity.', 'New listings were 24% higher year over year last week, contributing to the increase in for-sale inventory and dropping median days on market, Realtor.com found.', 'New listings year to date are 11.9% above the year-ago level, but still 12.8% below where they were in 2022, according to Hale.', 'There also may be an outsized bump in inventory due to newly built condominiums and townhomes coming on the market now.', 'Construction in the D.C. area has been very active over the past few years.', 'The share of new construction listings is tilted much more toward condos than it was five years ago.', 'As for prices, the median list price in the D.C. metro area was down 1.6% year over year last week.', 'For context, in the fourth quarter of last year, that median list price was down 1.5% annually.', 'The median list price nationally, as of last week, was down 0.2%, though it is heavily skewed by the type of home for sale.', 'Controlling for the size of home, the median list price per square foot increased 1.2% annually, which means there are more smaller or lower-end homes on the market compared to last year.', '""While D.C. has the largest share of federal workers in the country, other highly federally employed markets could see similar shifts in the coming weeks or months,"" said Hale. ""', 'While I expect many households will choose to stay in the area and pivot to find new job opportunities, some will likely choose to leave and retire or find a job elsewhere.""']",0.2219384292513283,"Inventory gains in the region, which includes the District as well as Maryland and Virginia suburbs, began to accelerate in January and February, up 35.9% and 41% year over year, respectively.","""The adjustment period following federal layoffs and funding cuts has likely put some Washington D.C. home searches on hold, both for those whose jobs have been directly impacted and those who may be concerned about what's ahead, and the data hints at these challenges,"" wrote Danielle Hale, chief economist for Realtor.com, in a release.",0.2502719724879545,"For comparison, active listings nationally were up 28% last week compared with the same week in 2024, according to Realtor.com, coinciding with a decline in mortgage rates.","The average rate on the popular 30-year fixed loan was around 7.25% in mid-January but fell steadily to 6.82% now, according to Mortgage News Daily.",2025-03-23
+"Nvidia, GM announce deal for AI, factories and next-gen vehicles",https://www.cnbc.com/2025/03/18/nvidia-gm-deals-ai-factories-vehicles.html,2025-03-19T13:00:17+0000,"In this articleGeneral Motors and Nvidia have agreed to a strategic collaboration that includes the automaker using several products and artificial intelligence services from the tech giant for its next-generation vehicles, advanced driver-assistance systems and factories.The companies on Tuesday announced that the new initiatives include building custom artificial intelligence systems using Nvidia compute platforms, including ""Omniverse with Cosmos,"" for optimizing GM's factory planning and robotics.The Detroit automaker also said it will use ""Nvidia Drive AGX"" for ""in-vehicle hardware for future advanced driver-assistance systems and in-cabin enhanced safety driving experiences.""GM declined to disclose a cost for the new tools with Nvidia. The tech company has been attempting to diversify its automotive business, which has notably included substantial work in data centers and GPUs.""The era of physical AI is here, and together with GM, we're transforming transportation, from vehicles to the factories where they're made,"" Jensen Huang, Nvidia founder and CEO, said in a release. ""We are thrilled to partner with GM to build AI systems tailored to their vision, craft and know-how.""GM has been using Nvidia graphics processing units, or GPUs, for training AI models across various areas of its business, including simulation and validation. The new business expands to in-vehicle hardware, automotive plant design and operations, the companies said.The automaker also had been testing Nvidia's Omniverse since at least 2022. Some of GM's testing was in designing a ""digital twin,"" or replica, of its new design center and processes to assist virtual vehicle development. It also acted as a single digital environment for employees to work and collaborate in, according to a video last year featuring GM for Nvidia's GTC developer conference in 2023.Nvidia anticipated it would strike a deal with GM mid-last year for Omniverse, according to an internal company email viewed by CNBC. At that time, two sources with GM signaled the automaker wasn't sure Nvidia's software and GPUs were worth the high cost compared with other companies.It wasn't immediately clear what sealed the deal for GM. But since that time, both companies have experienced increased competition from China and uncertain regulatory changes such as tariffs. GM's stock is off roughly 8% during in 2025, while Nvidia is off about 12% this year.""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia's release. ""By merging technology with human ingenuity, we unlock new levels of innovation in vehicle manufacturing and beyond.""The companies announced the new initiatives in connection with Nvidia's GTC AI conference this week in California.Nvidia describes Omniverse as a platform for ""developing and deploying physically based industrial digitalization applications."" It's essentially connecting a physical environment with a digital, or software, world to optimize processes using a ""digital twin"" of a physical environment such as a GM design facility or plant.Users of Nvidia's Omniverse have included BMW, Amazon Robotics and Samsung, Rev Lebaredian, Nvidia vice president of Omniverse and simulation technology, said during a media briefing a year ago. He said the company was licensing Omniverse for $4,500 per GPU, per year.It's unclear how many GPUs GM will need. But given the amount of robotics, sensors and other systems needed to operate a modern assembly plant, it would likely be quite a bit.More than 20 other automakers have used Nvidia's ""system on a chip"" hardware in the central computing units of their smart vehicles, including Mercedes Benz, Volvo, Audi, Volkswagen and BYD, according to an industry equity research note from Jeffries in November 2023.In recent years, Nvidia has seen soaring demand for its GPUs, which are used for everything from bitcoin mining to AI inference and training.",CNBC,19/03/2025,"['In this articleGeneral Motors and Nvidia have agreed to a strategic collaboration that includes the automaker using several products and artificial intelligence services from the tech giant for its next-generation vehicles, advanced driver-assistance systems and factories.', 'The companies on Tuesday announced that the new initiatives include building custom artificial intelligence systems using Nvidia compute platforms, including ""Omniverse with Cosmos,"" for optimizing GM\'s factory planning and robotics.', 'The Detroit automaker also said it will use ""Nvidia Drive AGX"" for ""in-vehicle hardware for future advanced driver-assistance systems and in-cabin enhanced safety driving experiences.', '""GM declined to disclose a cost for the new tools with Nvidia.', 'The tech company has been attempting to diversify its automotive business, which has notably included substantial work in data centers and GPUs.', '""The era of physical AI is here, and together with GM, we\'re transforming transportation, from vehicles to the factories where they\'re made,"" Jensen Huang, Nvidia founder and CEO, said in a release. ""', 'We are thrilled to partner with GM to build AI systems tailored to their vision, craft and know-how.', '""GM has been using Nvidia graphics processing units, or GPUs, for training AI models across various areas of its business, including simulation and validation.', 'The new business expands to in-vehicle hardware, automotive plant design and operations, the companies said.', ""The automaker also had been testing Nvidia's Omniverse since at least 2022."", 'Some of GM\'s testing was in designing a ""digital twin,"" or replica, of its new design center and processes to assist virtual vehicle development.', ""It also acted as a single digital environment for employees to work and collaborate in, according to a video last year featuring GM for Nvidia's GTC developer conference in 2023.Nvidia anticipated it would strike a deal with GM mid-last year for Omniverse, according to an internal company email viewed by CNBC."", ""At that time, two sources with GM signaled the automaker wasn't sure Nvidia's software and GPUs were worth the high cost compared with other companies."", ""It wasn't immediately clear what sealed the deal for GM."", 'But since that time, both companies have experienced increased competition from China and uncertain regulatory changes such as tariffs.', ""GM's stock is off roughly 8% during in 2025, while Nvidia is off about 12% this year."", '""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia\'s release. ""', 'By merging technology with human ingenuity, we unlock new levels of innovation in vehicle manufacturing and beyond.', '""The companies announced the new initiatives in connection with Nvidia\'s GTC AI conference this week in California.', 'Nvidia describes Omniverse as a platform for ""developing and deploying physically based industrial digitalization applications.""', 'It\'s essentially connecting a physical environment with a digital, or software, world to optimize processes using a ""digital twin"" of a physical environment such as a GM design facility or plant.', ""Users of Nvidia's Omniverse have included BMW, Amazon Robotics and Samsung, Rev Lebaredian, Nvidia vice president of Omniverse and simulation technology, said during a media briefing a year ago."", 'He said the company was licensing Omniverse for $4,500 per GPU, per year.', ""It's unclear how many GPUs GM will need."", 'But given the amount of robotics, sensors and other systems needed to operate a modern assembly plant, it would likely be quite a bit.', 'More than20other automakers have used Nvidia\'s ""system on a chip"" hardware in the central computing units of their smart vehicles, including Mercedes Benz, Volvo, Audi, Volkswagen and BYD, according to an industry equity research note from Jeffries in November 2023.In recent years, Nvidia has seen soaring demand for its GPUs, which are used for everything from bitcoin mining to AI inference and training.']",0.2128805987264246,"""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia's release. """,It's unclear how many GPUs GM will need.,0.3955838620662689,"""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia's release. ""","GM's stock is off roughly 8% during in 2025, while Nvidia is off about 12% this year.",2025-03-23
+PepsiCo buys prebiotic soda brand Poppi for nearly $2 billion,https://www.cnbc.com/2025/03/17/pepsico-buys-prebiotic-soda-brand-poppi-for-more-than-1point6-billion.html,2025-03-17T18:22:35+0000,"In this articlePepsiCo said Monday that it is buying prebiotic soda brand Poppi for nearly $2 billion.While soda consumption has broadly fallen over the past two decades in the U.S., prebiotic sodas, fueled by industry newcomers Poppi and Olipop, have won over health-conscious consumers over the past five years.The category's growth makes it attractive for Pepsi and its rival, Coca-Cola, which recently launched its own prebiotic soda brand, Simply Pop. Pepsi had reportedly aimed to launch its own functional soda under its Soulboost brand, but it canceled those plans, likely paving the way to a deal with Poppi.Pepsi said it plans to acquire the upstart Poppi for $1.95 billion. The deal includes $300 million of anticipated cash tax benefits, making the net purchase price $1.65 billion.Pepsi will also have to make additional payments if Poppi achieves certain performance milestones within a set time frame after the acquisition closes. The company did not say when the deal is expected to close, pending regulatory approval.Poppi's founders Allison and Stephen Ellsworth launched the brand back in 2018, the same year that Olipop was founded. Poppi's formula includes apple cider vinegar, prebiotics and just five grams of sugar.By 2023, Poppi's annual sales reportedly crossed $100 million.The company recently made its second straight Super Bowl appearance with an ad during the big game, demonstrating both its deep pockets and a desire to reach an even wider audience.But as Poppi's sales have grown, it has also attracted backlash for its health claims. For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed. Poppi and the plaintiff moved to settle the suit on Friday for $8.9 million, according to court filings.For its part, rival Olipop was valued at $1.85 billion during its latest funding round, which was announced in February. In 2023, Olipop founder and CEO Ben Goodwin told CNBC that soda giants PepsiCo and Coca-Cola had already come knocking about a potential sale.",CNBC,17/03/2025,"['In this articlePepsiCo said Monday that it is buying prebiotic soda brand Poppi for nearly $2 billion.', 'While soda consumption has broadly fallen over the past two decades in the U.S., prebiotic sodas, fueled by industry newcomers Poppi and Olipop, have won over health-conscious consumers over the past five years.', ""The category's growth makes it attractive for Pepsi and its rival, Coca-Cola, which recently launched its own prebiotic soda brand, Simply Pop."", 'Pepsi had reportedly aimed to launch its own functional soda under its Soulboost brand, but it canceled those plans, likely paving the way to a deal with Poppi.', 'Pepsi said it plans to acquire the upstart Poppi for $1.95 billion.', 'The deal includes $300 million of anticipated cash tax benefits, making the net purchase price $1.65 billion.', 'Pepsi will also have to make additional payments if Poppi achieves certain performance milestones within a set time frame after the acquisition closes.', 'The company did not say when the deal is expected to close, pending regulatory approval.', ""Poppi's foundersAllison and Stephen Ellsworth launched the brand back in 2018, the same year that Olipop was founded."", ""Poppi's formula includes apple cider vinegar, prebiotics and just five grams of sugar."", ""By 2023, Poppi's annual sales reportedly crossed $100 million."", 'The company recently made its second straight Super Bowl appearance with an ad during the big game, demonstrating both its deep pockets and a desire to reach an even wider audience.', ""But as Poppi's sales have grown, it has also attracted backlash for its health claims."", 'For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed.', 'Poppi and the plaintiff moved to settle the suit on Friday for $8.9 million, according to court filings.', 'For its part, rival Olipop was valued at $1.85 billion during its latest funding round, which was announced in February.', 'In 2023, Olipop founder and CEO Ben Goodwin told CNBC that soda giants PepsiCo and Coca-Cola had already come knocking about a potential sale.']",0.2130677468922047,"The company recently made its second straight Super Bowl appearance with an ad during the big game, demonstrating both its deep pockets and a desire to reach an even wider audience.","For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed.",0.6602089703083038,"The category's growth makes it attractive for Pepsi and its rival, Coca-Cola, which recently launched its own prebiotic soda brand, Simply Pop.","For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed.",2025-03-23
+White House pulls Trump’s nomination for CDC director hours before confirmation hearing,https://www.cnbc.com/2025/03/13/white-house-pulls-trump-cdc-director-nominee-dave-weldon.html,2025-03-13T17:46:50+0000,"The White House has pulled President Donald Trump's nominee to lead the Centers for Disease Control and Prevention, former Rep. Dave Weldon, the Senate's health committee confirmed Thursday.The move came just hours before the Republican former Florida lawmaker, a vaccine critic, was set to appear before the U.S. Senate Committee on Health, Education, Labor and Pensions for a confirmation hearing. The panel said the hearing, which had been scheduled for 10 a.m. ET, is canceled.Axios first reported the decision on Thursday. Robert F. Kennedy Jr., who leads the Department of Health and Human Services, said Weldon wasn't ready for the role, Axios reported. HHS oversees the CDC and all other federal health agencies.Weldon said he had been excited to work with Kennedy and serve the country again, The New York Times reported Thursday.""It is a shock, but, you know, in some ways, it's relief,"" Weldon told the paper. ""Government jobs demand a lot of you, and if God doesn't want me in it, I'm fine with that.""He said he plans to ""get on an airplane at 11 o'clock and I'm going to go home and I'm going to see patients on Monday,"" according to the newspaper.""I'll make much more money staying in my medical practice,"" Weldon added.But Weldon's views align closely with Kennedy, a notorious vaccine skeptic. Weldon, 71, has long questioned the safety of certain vaccines, promoting the false claim linking vaccines to autism. In 2006, Weldon appeared with parents who claimed that the CDC had covered up evidence tying vaccines to children developing autism.The CDC will reportedly reexamine that link under Kennedy despite decades of research debunking it.While in Congress, Weldon sponsored a bill that would transfer responsibility for vaccine safety away from the CDC. He claimed the agency had a conflict of interest because it purchases and promotes vaccines. The bill never made it past committees. Weldon is an internal medicine doctor who served in Congress for 14 years, from 1995 to 2009. Sen. Patty Murray, a Democrat from Washington and HELP committee member, has said she was ""deeply disturbed"" by Weldon's false claims about vaccines.In a statement on Thursday, Murray said, ""While I have little to no confidence in the Trump administration to do so, they should immediately nominate someone for this position who at bare minimum believes in basic science and will help lead CDC's important work to monitor and prevent deadly outbreaks.""She added that Kennedy is already doing ""incalculable damage by spreading lies and disinformation as the top health official in America.""HHS did not immediately respond to a request to comment on why the administration pulled Weldon's nomination and when Trump may choose another person for the post.",CNBC,13/03/2025,"[""The White House has pulled President Donald Trump's nominee to lead the Centers for Disease Control and Prevention, former Rep. Dave Weldon, the Senate's health committee confirmed Thursday."", 'The move came just hours before the Republican former Florida lawmaker, a vaccine critic, was set to appearbefore the U.S. Senate Committee on Health, Education, Labor and Pensions for a confirmation hearing.', 'The panel said the hearing, which had been scheduled for 10 a.m. ET, is canceled.', 'Axios first reported the decision on Thursday.', ""Robert F. Kennedy Jr., who leads the Department of Health and Human Services, said Weldon wasn't ready for the role, Axios reported."", 'HHS oversees the CDC and all other federal health agencies.', 'Weldon said he had been excited to work with Kennedy and serve the country again, The New York Times reported Thursday.', '""It is a shock, but, you know, in some ways, it\'s relief,"" Weldon told the paper. ""', ""Government jobs demand a lot of you, and if God doesn't want me in it, I'm fine with that."", '""He said he plans to ""get on an airplane at 11 o\'clock and I\'m going to go home and I\'m going to see patients on Monday,"" according to the newspaper.', '""I\'ll make much more money staying in my medical practice,"" Weldon added.', ""But Weldon's views align closely with Kennedy, a notorious vaccine skeptic."", 'Weldon, 71, has long questioned the safety of certain vaccines, promoting the false claim linking vaccines to autism.', 'In 2006, Weldon appearedwith parents who claimed that the CDC had covered up evidence tying vaccines to children developing autism.', 'The CDC will reportedly reexamine that link under Kennedy despite decades of research debunking it.', 'While in Congress, Weldon sponsored a bill that would transfer responsibility for vaccine safety away from the CDC.', 'He claimed the agency had a conflict of interest because it purchases and promotes vaccines.', 'The bill never made it past committees.', 'Weldon is an internal medicine doctor who served in Congress for 14 years, from 1995 to 2009.Sen.', 'Patty Murray, a Democrat from Washington and HELP committee member, has said she was ""deeply disturbed"" by Weldon\'s false claims about vaccines.', 'In a statement on Thursday, Murray said, ""While I have little to no confidence in the Trump administration to do so, they should immediately nominate someone for this position who at bare minimum believes in basic science and will help lead CDC\'s important work to monitor and prevent deadly outbreaks.', '""She added that Kennedy is already doing ""incalculable damage by spreading lies and disinformation as the top health official in America.', '""HHS did not immediately respond to a request to comment on why the administration pulled Weldon\'s nomination and when Trump may choose another person for the post.']",0.1053608637340835,"Weldon, 71, has long questioned the safety of certain vaccines, promoting the false claim linking vaccines to autism.","But Weldon's views align closely with Kennedy, a notorious vaccine skeptic.",0.0045524338881174,"""I'll make much more money staying in my medical practice,"" Weldon added.","""She added that Kennedy is already doing ""incalculable damage by spreading lies and disinformation as the top health official in America.",2025-03-23
+"Dollar General CEO warns consumers are cash-strapped, and says 2025 won't be better",https://www.cnbc.com/2025/03/13/dollar-general-ceo-consumer-warning.html,2025-03-13T20:08:00+0000,"In this articleDollar General CEO Todd Vasos said on Thursday that inflation continues to hurt the discounter's customers and that the macroeconomic environment won't improve this year.On the company's fourth-quarter earnings call, Vasos said customers are expecting value and convenience ""more than ever"" from the dollar-store chain.""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation. Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" Vasos said. ""As we enter 2025, we are not anticipating improvement in the macro environment, particularly for our core customer.""Dollar General's core consumer is ""always strained"" due to their economic status, but also resourceful, Vasos said.""We've started to see where [our customer is] getting her sea legs, if you will, on the additional inflation that's been very sticky out there, and she's starting to understand her budgets even more,"" Vasos said.Part of the uncertainty, Vasos said, stems from the potential impact of President Donald Trump's tariffs on the consumer.When Trump imposed tariffs during his first term in office in 2018 and 2019, Dollar General had to raise some prices in line with others in the industry, Vasos said. But the general store was able to mitigate the impact back then and is ""well positioned"" to do so again this year, he said.""Given the already stressed financial condition of our core customer, we are closely monitoring these and any other potential economic headwinds, including any changes to government entitlement programs,"" Vasos said.CFO Kelly Dilts said the company's 2025 guidance factors in continued economic pressure on the consumer, but does not account for further changes to tariff policy or government initiatives like the Supplemental Nutrition Assistance Program, which subsidizes food for low-income Americans.For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction. Customer traffic fell 1.1% during the period, ""impacted by ongoing financial pressures of our core consumer,"" Vasos said.Alongside its fourth-quarter earnings, Dollar General said Thursday it would close 96 Dollar General stores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations this year. Popshelf primarily serves higher-income shoppers with lower-priced products.Shares of Dollar General closed up nearly 7% on Thursday.",CNBC,13/03/2025,"[""In this articleDollar General CEO Todd Vasos said on Thursday that inflation continues to hurt the discounter's customers and that the macroeconomic environment won't improve this year."", 'On the company\'s fourth-quarter earnings call, Vasos said customers are expecting value and convenience ""more than ever"" from the dollar-store chain.', '""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation.', 'Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" Vasos said. ""', 'As we enter 2025, we are not anticipating improvement in the macro environment, particularly for our core customer.', '""Dollar General\'s core consumer is ""always strained"" due to their economic status, but also resourceful, Vasos said.', '""We\'ve started to see where [our customer is] getting her sea legs, if you will, on the additional inflation that\'s been very sticky out there, and she\'s starting to understand her budgets even more,"" Vasos said.', ""Part of the uncertainty, Vasos said, stems from the potential impact of President Donald Trump's tariffs on the consumer."", 'When Trump imposed tariffs during his first term in office in 2018 and 2019, Dollar General had to raise some prices in line with others in the industry, Vasos said.', 'But the general store was able to mitigate the impact back then and is ""well positioned"" to do so again this year, he said.', '""Given the already stressed financial condition of our core customer, we are closely monitoring these and any other potential economic headwinds, including any changes to government entitlement programs,"" Vasos said.', ""CFO Kelly Dilts said the company's 2025 guidance factors in continued economic pressure on the consumer, but does not account for further changes to tariff policy or government initiatives like the Supplemental Nutrition Assistance Program, which subsidizes food for low-income Americans."", 'For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction.', 'Customer traffic fell 1.1% during the period, ""impacted by ongoing financial pressures of our core consumer,""Vasos said.', 'Alongside its fourth-quarter earnings, Dollar General said Thursday it would close 96Dollar Generalstores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations this year.', 'Popshelf primarily serves higher-income shopperswith lower-priced products.', 'Shares of Dollar General closed up nearly 7% on Thursday.']",-0.0437389128385915,"For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction.","""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation.",-0.0899762565439397,"For the fourth-quarter, Dollar General said same-store sales growth of 1.2% was driven entirely by 2.3% growth in average transaction.","Customer traffic fell 1.1% during the period, ""impacted by ongoing financial pressures of our core consumer,""Vasos said.",2025-03-22
+London’s Heathrow Airport resumes flights after major fire nearby shuts down travel,https://www.cnbc.com/2025/03/21/heathrow-airport-closes-friday-after-fire-causes-power-outage.html,2025-03-22T05:29:09+0000,"London's Heathrow Airport closed Friday after a fire at a nearby electrical substation caused a power outage, disrupting travel for tens of thousands of passengers planning to fly in or out of Europe's busiest airport.The first flight since the closure departed late Friday local time, and Heathrow posted on X that it hopes to run a ""full operation"" on Saturday.More than 800 flights were canceled in and out of the airport on Friday, according to flight-tracking site FlightAware, as of the most recent update, upending travel at the major hub and connecting airport.Airlines warned travelers that disruptions could continue into the weekend, and Heathrow posted that travelers shouldn't go to the airport unless advised to do so by their airline.London's Metropolitan Police said that while there was ""no indication of foul play,"" the counterterrorism division would now lead the investigation into the fire.""Given the location of the substation and the impact this incident has had on critical national infrastructure, the Met's Counter Terrorism Command is now leading enquiries,"" the force said in a post on X.""This is due to the specialist resources and capabilities within that command that can assist in progressing this investigation at pace to minimise disruption and identify the cause,"" it said.""Heathrow is experiencing a significant power outage across the airport. ... Whilst fire crews are responding to the incident, we do not have clarity on when power may be reliably restored,"" a Heathrow spokesperson said earlier Friday.More than 120 flights were already in the air when the closure was announced and were diverted or returned to their originating airports, according to Flightradar24. Nearly three-quarters of the flights scheduled to depart from Heathrow, or 500 flights, and half of the arrivals destined for the airport, 300 flights, were also scrubbed.Airlines around the world due to operate flights into and out of Heathrow told passengers to stay home.The fire and airport closure left thousands of travelers stranded. British Airways was the most affected airline, with over half of its Friday schedule canceled.The airline said it would offer ""flexible options"" for rebooking to passengers set to travel to or from Heathrow on Friday through the weekend, in an online post.""Our teams are currently working hard to review our long-haul schedule as well as the implications for our schedule tomorrow and beyond,"" it said in a statement.As the fire appears to be outside of the airlines' control, they may not be required to cover compensation, according to a note issued by Citi on Friday.American Airlines, a British Airways partner across the Atlantic, said almost 20 flights from Thursday were diverted or canceled and that it provided overnight hotels for affected customers. It canceled another close to 20 in or out of London on Friday, she said. The carrier planned to operate its full schedule to and from London on Saturday.European travel and leisure stocks fell on news of the airport closure.Ed Miliband, U.K. energy minister, described the fire as ""catastrophic,"" according to Reuters, adding that the airport's backup generator had been affected by the blaze.Speaking to ITV's ""Good Morning Britain,"" Miliband said the National Grid told him ""it's like a fire they've never, kind of, quite seen anything like the scale of what happened before,"" according to a post by the program on X.Miliband added that the National Grid was trying to use another backup system to restore power to the airport.Power cuts also affected about 16,000 homes around the airport. As of 8 a.m. GMT, electrical supply was restored to all but around 4,900, according to the U.K. energy company Scottish and Southern Electricity Networks.Heathrow Airport has an estimated 1,300 takeoffs and landings at the airport per day, according to its website. It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We've got to understand why this happened, and we've got to work out what the lessons are for the resilience of our infrastructure.""He said the National Grid is looking at whether there is ""sufficient resilience"" in place at the airport, given that the fire also affected a backup generator.""It makes Heathrow look quite vulnerable. And therefore, we've got to learn lessons … about not just Heathrow, but how we protect our major infrastructure,"" Miliband said.Willie Walsh, CEO of the International Air Transport Association, or IATA, an airline industry group, criticized Heathrow Airport for being ""totally dependent on a single power source without an alternative,"" in an online statement, describing it as a ""total planning failure"" by the airport.Walsh questioned who would cover the costs of the resulting travel disruptions.""We must find a fairer allocation of passenger care costs than airlines alone picking up the tab when infrastructure fails,"" he said. ""Until that happens, Heathrow has very little incentive to improve.""Anita Mendiratta, a travel and tourism advisor and founder of consultancy AM&A, described the implications of the fire and closure of the airport as ""very wide.""""What we also need to take into account is over and above passenger traffic, over 4,000 tons of cargo go through Heathrow every single day,"" she told CNBC's ""Squawk Box Europe.""More than 1.4 million tonnes of cargo flew in and out of Heathrow in 2023, according to a post on the airport's website, with 90% of goods transported in the hold of passenger aircraft.Airport officials said they will update travelers ""when more information on the resumption of operations is available.""Travelers can check Heathrow Airport's website or social media platforms, including X, for the latest information.",CNBC,22/03/2025,"[""London's Heathrow Airport closed Friday after a fire at a nearby electrical substation caused a power outage, disrupting travel for tens of thousands of passengers planning to fly in or out of Europe's busiest airport."", 'The first flight since the closure departed late Friday local time, and Heathrow posted on X that it hopes to run a ""full operation"" on Saturday.', 'More than 800 flights were canceled in and out of the airport on Friday, according to flight-tracking site FlightAware, as of the most recent update, upending travel at the major hub and connecting airport.', ""Airlines warned travelers that disruptions could continue into the weekend, and Heathrow posted that travelers shouldn't go to the airport unless advised to do so by their airline."", 'London\'s Metropolitan Police said that while there was ""no indication of foul play,"" the counterterrorism division would now lead the investigation into the fire.', '""Given the location of the substation and the impact this incident has had on critical national infrastructure, the Met\'s Counter Terrorism Command is now leading enquiries,"" the force said in a post on X.""This is due to the specialist resources and capabilities within that command that can assist in progressing this investigation at pace to minimise disruption and identify the cause,"" it said.', '""Heathrow is experiencing a significant power outage across the airport. ...', 'Whilst fire crews are responding to the incident, we do not have clarity on when power may be reliably restored,"" a Heathrow spokesperson said earlier Friday.', 'More than 120 flights were already in the air when the closure was announced and were divertedor returned to their originating airports, according to Flightradar24.', 'Nearly three-quarters of the flights scheduled to depart from Heathrow, or 500 flights, and half of the arrivals destined for the airport, 300 flights, were also scrubbed.', 'Airlines around the world due to operate flights into and out of Heathrow told passengers to stay home.', 'The fire and airport closure left thousands of travelers stranded.', 'British Airways was the most affected airline, with over half of its Friday schedule canceled.', 'The airline said it would offer ""flexible options"" for rebooking to passengers set to travel to or from Heathrow on Friday through the weekend, in an online post.', '""Our teams are currently working hard to review our long-haul schedule as well as the implications for our schedule tomorrow and beyond,"" it said in a statement.', ""As the fire appears to be outside of the airlines' control, they may not be required to cover compensation, according to a note issued by Citi on Friday."", 'American Airlines, a British Airways partner across the Atlantic, said almost 20 flights from Thursday were diverted or canceled and that it provided overnight hotels for affected customers.', 'It canceled another close to 20 in or out of London on Friday, she said.', 'The carrier planned to operate its full schedule to and from London on Saturday.', 'European travel and leisure stocks fell on news of the airport closure.', 'Ed Miliband, U.K. energy minister, described the fire as ""catastrophic,"" according to Reuters, adding that the airport\'s backup generator had been affected by the blaze.', 'Speaking to ITV\'s ""Good Morning Britain,"" Miliband said the National Grid told him ""it\'s like a fire they\'ve never, kind of, quite seen anything like the scale of what happened before,"" according to a post by the program on X.Miliband added that the National Grid was trying to use another backup system to restore power to the airport.', 'Power cuts also affected about 16,000 homes around the airport.', 'As of 8 a.m. GMT, electrical supply was restored to all but around 4,900, according to the U.K. energy company Scottish and Southern Electricity Networks.', 'Heathrow Airport has an estimated 1,300 takeoffs and landings at the airport per day, according to its website.', 'It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We\'ve got to understand why this happened, and we\'ve got to work out what the lessons are for the resilience of our infrastructure.', '""He said the National Grid is looking at whether there is ""sufficient resilience"" in place at the airport, given that the fire also affected a backup generator.', '""It makes Heathrow look quite vulnerable.', 'And therefore, we\'ve got to learn lessons … about not just Heathrow, but how we protect our major infrastructure,"" Miliband said.', 'Willie Walsh, CEO of the International Air Transport Association, or IATA, an airline industry group, criticized Heathrow Airport for being ""totally dependent on a single power source without an alternative,"" in an online statement, describing it as a ""total planning failure"" by the airport.', 'Walsh questioned who would cover the costs of the resulting travel disruptions.', '""We must find a fairer allocation of passenger care costs than airlines alone picking up the tab when infrastructure fails,"" he said. ""', 'Until that happens, Heathrow has very little incentive to improve.', '""Anita Mendiratta, a travel and tourism advisor and founder of consultancy AM&A, described the implications of the fire and closure of the airport as ""very wide.', '""""What we also need to take into account is over and above passenger traffic, over 4,000 tons of cargo go through Heathrow every single day,"" she told CNBC\'s ""Squawk Box Europe.', '""More than 1.4 million tonnes of cargo flew in and out of Heathrow in 2023, according to a post on the airport\'s website, with 90% of goods transported in the hold of passenger aircraft.', 'Airport officials said they will update travelers ""when more information on the resumption of operations is available.', '""Travelers can check Heathrow Airport\'s website or social media platforms, including X, for the latest information.']",-0.0754250057217165,"It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We've got to understand why this happened, and we've got to work out what the lessons are for the resilience of our infrastructure.","""Given the location of the substation and the impact this incident has had on critical national infrastructure, the Met's Counter Terrorism Command is now leading enquiries,"" the force said in a post on X.""This is due to the specialist resources and capabilities within that command that can assist in progressing this investigation at pace to minimise disruption and identify the cause,"" it said.",-0.4159791434512419,"It handled a record 83.9 million passengers last year — a nearly 6% increase from 2023.Speaking to ""Good Morning Britain,"" Miliband said on Friday, ""We've got to understand why this happened, and we've got to work out what the lessons are for the resilience of our infrastructure.",European travel and leisure stocks fell on news of the airport closure.,2025-03-22
+"Klarna, nearing IPO, plucks lucrative Walmart fintech partnership from rival Affirm",https://www.cnbc.com/2025/03/17/walmart-klarna-nearing-ipo-wins-fintech-partnership-from-affirm.html,2025-03-17T21:14:32+0000,"In this articleSwedish fintech firm Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm, CNBC has learned.Klarna, which just disclosed its intention to go public in the U.S., will provide loans to Walmart customers in stores and online through the retailer's majority-owned fintech startup OnePay, according to people with knowledge of the situation who declined to be identified speaking about the partnership.OnePay, which updated its brand name from One this month, will handle the user experience via its app, while Klarna will make underwriting decisions for loans ranging from three months to 36 months in length, and with annual interest rates from 10% to 36%, said the people.The new product will be launched in the coming weeks and will be scaled to all Walmart channels by the holiday season, likely leaving it the retailer's only buy now, pay later option by year-end.The move heightens the rivalry between Affirm and Klarna, two of the world's biggest BNPL players, just as Klarna is set to go public. Although both companies claim to offer a better alternative for borrowers than credit cards, Affirm is more U.S.-centric and has been public since 2021, while Klarna's network is more global.Shares of Affirm dropped 4.2% Monday after falling as much as 14% earlier in the session.The deal comes at an opportune time for Klarna as it readies one of the year's most highly anticipated initial public offerings. After a dearth of big tech listings in the U.S. since 2021, the Klarna IPO will be a key test for the industry. The firm's private market valuation has been a roller coaster: It soared to $46 billion in 2021, then crashed by 85% the next year amid the broader decline of high-flying fintech firms.CEO Sebastian Siemiatkowski has worked to improve Klarna's prospects, including touting its use of generative artificial intelligence to slash expenses and headcount. The company returned to profitability in 2023, and its valuation is now roughly $15 billion, according to analysts, nearly matching the public market value of Affirm.The OnePay deal is a ""game changer"" for Klarna, Siemiatkowski said in a release confirming the pact.""Millions of people in the U.S. shop at Walmart every day — and now they can shop smarter with OnePay installment loans powered by Klarna,"" he said. ""We look forward to helping redefine checkout at the world's largest retailer — both online and in stores.""As part of the deal, OnePay can take a position in Klarna. In its F-1 filing, Klarna said it entered into a ""commercial agreement with a global partner"" in which it is giving warrants to purchase more than 15 million shares for an average price of $34 each. OnePay is the partner, people with knowledge of the deal confirmed.For Affirm, the move is likely to be seen as a blow at a time when tech stocks are particularly vulnerable. Run by CEO Max Levchin, a PayPal co-founder, the company's stock has surged and fallen since its 2021 IPO. The lender's shares have dipped 18% this year before Monday.Affirm executives frequently mention their partnerships with big merchants as a key driver of purchase volumes and customer acquisition. In November, Affirm's chief revenue officer, Wayne Pommen, referred to Walmart and other tie-ups including those with Amazon, Shopify and Target as its ""crown jewel partnerships.""An Affirm spokesman had this statement: ""We win business when merchants want superior performance and maximum value, given our underwriting and capital markets advantages. We will continue our long-term strategy of competing on our products and entering into sustainable partnerships.""The deal is no less consequential to Walmart's OnePay, which has surged to a $2.5 billion pre-money valuation just two years after rolling out a suite of products to its customers.The startup now has more than 3 million active customers and is generating revenue at an annual run rate of more than $200 million.As part of its push to penetrate areas adjacent to its core business, Walmart executives have touted OnePay's potential to become a one-stop shop for Americans underserved by traditional banks.Walmart is the world's largest retailer and says it has 255 million weekly customers, giving the startup — which is a separate company backed by Walmart and Ribbit Capital — a key advantage in acquiring new customers.Last year, the Walmart-backed fintech began offering BNPL loans in the aisles and on checkout pages of Walmart, CNBC reported at the time. That led to speculation that it would ultimately displace Affirm, which had been the exclusive provider for BNPL loans for Walmart since 2019.OnePay's move to partner with Klarna rather than going it alone shows the company saw an advantage in going with a seasoned, at-scale provider versus using its own solution.OnePay's push into consumer lending is expected to accelerate its conversion of Walmart customers into fintech app users. Cash-strapped consumers are increasingly relying on loans to meet their needs, and the installment loan is seen as a wedge to also offer users the banking, savings and payments features that OnePay has already built.Americans held a record $1.21 trillion in credit card debt in the fourth quarter of last year, about $441 billion higher than balances in 2021, according to Federal Reserve Bank of New York data.""It's never been more important to give consumers simple and convenient ways to access fair credit at the point of sale,"" said OnePay CEO Omer Ismail. ""That's especially true for the millions of people who turn to Walmart every week for everything.""Next up is likely a OnePay-branded credit card offered with the help of a new banking partner after Walmart successfully exited its partnership with Capital One.""We're looking forward to going down this new path where not only can they provide installment credit ... but also revolving credit,"" Walmart CFO John David Rainey told investors in June.— CNBC's MacKenzie Sigalos and Melissa Repko contributed to this report.",CNBC,17/03/2025,"['In this articleSwedish fintech firm Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm, CNBC has learned.', ""Klarna, which just disclosed its intention to go public in the U.S., will provide loans to Walmart customers in stores and online through the retailer's majority-owned fintech startup OnePay, according to people with knowledge of the situation who declined to be identified speaking about the partnership."", 'OnePay, which updated its brand name from One this month, will handle the user experience via its app, while Klarna will make underwriting decisions for loans ranging from three months to 36 months in length, and with annual interest rates from 10% to 36%, said the people.', ""The new product will be launched in the coming weeks and will be scaled to all Walmart channels by the holiday season, likely leaving it the retailer's only buy now, pay later option by year-end."", ""The move heightens the rivalry between Affirm and Klarna, two of the world's biggest BNPL players, just as Klarna is set to go public."", ""Although both companies claim to offer a better alternative for borrowers than credit cards, Affirm is more U.S.-centric and has been public since 2021, while Klarna's network is more global."", 'Shares of Affirm dropped 4.2% Monday after falling as much as 14% earlier in the session.', ""The deal comes at an opportune time for Klarna as it readies one of the year's most highly anticipated initial public offerings."", 'After a dearth of big tech listings in the U.S. since 2021, the Klarna IPO will be a key test for the industry.', ""The firm's private market valuation has been a roller coaster: It soared to $46 billion in 2021, then crashed by 85% the next year amid the broader decline of high-flying fintech firms."", ""CEO Sebastian Siemiatkowski has worked to improve Klarna's prospects, including touting its use of generative artificial intelligence to slash expenses and headcount."", 'The company returned to profitability in 2023, and its valuation is now roughly $15 billion, according to analysts, nearly matching the public market value of Affirm.', 'The OnePay deal is a ""game changer"" for Klarna, Siemiatkowski said in a release confirming the pact.', '""Millions of people in the U.S. shop at Walmart every day — and now they can shop smarter with OnePay installment loans powered by Klarna,"" he said. ""', ""We look forward to helping redefine checkout at the world's largest retailer — both online and in stores."", '""As part of the deal, OnePay can take a position in Klarna.', 'In its F-1 filing, Klarna said it entered into a ""commercial agreement with a global partner"" in which it is giving warrants to purchase more than 15 million shares for an average price of $34 each.', 'OnePay is the partner, people with knowledge of the deal confirmed.', 'For Affirm, the move is likely to be seen as a blow at a time when tech stocks are particularly vulnerable.', ""Run by CEO Max Levchin, a PayPal co-founder, the company's stock has surged and fallen since its 2021 IPO."", ""The lender's shares have dipped 18% this year before Monday."", 'Affirm executives frequently mention their partnerships with big merchants as a key driver of purchase volumes and customer acquisition.', 'In November, Affirm\'s chief revenue officer, Wayne Pommen, referred to Walmart and other tie-ups including those with Amazon, Shopify and Target as its ""crown jewel partnerships.', '""An Affirm spokesman had this statement: ""We win business when merchants want superior performance and maximum value, given our underwriting and capital markets advantages.', 'We will continue our long-term strategy of competing on our products and entering into sustainable partnerships.', '""The deal is no less consequential to Walmart\'s OnePay, which has surged to a $2.5 billion pre-money valuation just two years after rolling out a suite of products to its customers.', 'The startup now has more than 3 million active customers and is generating revenue at an annual run rate of more than $200 million.', ""As part of its push to penetrate areas adjacent to its core business, Walmart executives have touted OnePay's potential to become a one-stop shop for Americans underserved by traditional banks."", ""Walmart is the world's largest retailer and says it has 255 million weekly customers, giving the startup — which is a separate company backed by Walmart and Ribbit Capital — a key advantage in acquiring new customers."", 'Last year, the Walmart-backed fintech began offering BNPL loans in the aisles and on checkout pages of Walmart, CNBC reported at the time.', ""That led to speculation that it would ultimately displace Affirm, which had been the exclusive provider for BNPL loans for Walmart since 2019.OnePay's move to partner with Klarna rather than going it alone shows the company saw an advantage in going with a seasoned, at-scale provider versus using its own solution."", ""OnePay's push into consumer lending is expected to accelerate its conversion of Walmart customers into fintech app users."", 'Cash-strapped consumers are increasingly relying on loans to meet their needs, and the installment loan is seen as a wedge to also offer users the banking, savings and payments features that OnePay has already built.', 'Americans held a record $1.21 trillion in credit card debt in the fourth quarter of lastyear, about $441 billion higher than balances in 2021, according to Federal Reserve Bank of New York data.', '""It\'s never been more important to give consumers simple and convenient ways to access fair credit at the point of sale,"" said OnePay CEO Omer Ismail. ""', ""That's especially true for the millions of people who turn to Walmart every week for everything."", '""Next up is likely a OnePay-branded credit card offered with the help of a new banking partner after Walmart successfully exited its partnership with Capital One.', '""We\'re looking forward to going down this new path where not only can they provide installment credit ... but also revolving credit,"" Walmart CFO John David Rainey told investors in June.—', ""CNBC's MacKenzie Sigalos and Melissa Repko contributed to this report.""]",0.2201782648605297,"""An Affirm spokesman had this statement: ""We win business when merchants want superior performance and maximum value, given our underwriting and capital markets advantages.","After a dearth of big tech listings in the U.S. since 2021, the Klarna IPO will be a key test for the industry.",0.250191193819046,"""The deal is no less consequential to Walmart's OnePay, which has surged to a $2.5 billion pre-money valuation just two years after rolling out a suite of products to its customers.",The lender's shares have dipped 18% this year before Monday.,2025-03-22
+"Goodbye to 'bags fly free' on Southwest Airlines, the last freebie in America",https://www.cnbc.com/2025/03/15/goodbye-free-bags-southwest-airlines.html,2025-03-15T12:49:04+0000,"Almost nothing is guaranteed in life. Certainly not weather, electricity, health, tariffs or eggs. But for more than 50 years, American consumers could count on Southwest Airlines letting them check bags for free.Dallas-based Southwest is ending the policy in May. Customers are not happy.""It was the only reason I flew Southwest,"" said MaKensey Kaye Alford, a 21-year-old singer and actress who lives near Birmingham, Alabama.Alford, who is planning to move to New York City later this year, said she would ""definitely"" consider taking another airline now.Southwest's customer-friendly policies have survived recessions, oil price spikes and even the Covid-19 pandemic, winning it years of goodwill and a loyal following, even as it has grown. No other airline carries more people in the United States than Southwest.Now, the airline with an unrivaled streak of profitability (its almost never posted an annual loss) is under pressure to increase profits as big competitors outpace the airline. So it's backpedaling off of years of banishing the thought that they would charge customers for bags, adding to other business-model tweaks like assigned seating that give it more in common with all other airlines.Errol Joseph, 36, a sales consultant who lives in New York and Dallas, said he would now consider flying on Delta Air Lines if the price is the same as Southwest because its planes have seatback screens, unlike Southwest. Joseph added that with baggage policy change, there's ""pretty much no reason to be loyal.""The bag policy had been around longer than most women were able to get credit cards on their own without a man's signature. But those days are over. No more freebies, America.Retailers, restaurants and airlines are among the businesses that have been pulling back on free perks, from complimentary birthday coffees to free package returns, since the pandemic ended. Increasingly, airline perks are only available for loyalty program members or customers who buy a more expensive ticket.Delta offers customers free Wi-Fi on board, but only for those who have signed up for its SkyMiles loyalty program. United Airlines is making a similar move, meanwhile, installing equipment on its planes so customers can soon connect to Elon Musk's Starlink satellite Wi-Fi for free if they are members of the airline's MileagePlus program.It typically takes real financial pressure for companies to return to giveaways, but it's not unprecedented. Starbucks, for example, got rid of upcharges for dairy alternatives to attract customers to try to reverse a sales slump.Southwest's decision pits investors against customers.Activist hedge fund and, as of last year, big Southwest shareholder Elliott Investment Management has been increasing pressure on the airline to raise its profits as rivals like Delta and United have pulled ahead. Elliott pushed for faster changes at the carrier, which has been long hesitant to change, so it could increase revenue. The firm last year won five board seats in a settlement with Southwest.In fact, after Southwest unveiled the bag shift and other policy changes, its shares rose close to 9% this week, while Delta, United and American, each fell more than 11%. CEOs of all the carriers raised concerns about weaker-than-expected travel demand, but Southwest bucked the trend, as it expects the changes to add hundreds of millions of dollars to its bottom line.""Shareholder activism is reshaping LUV into a company that we believe investors will eventually gravitate to,"" wrote Seaport Research Partners airline analyst Dan McKenzie in a note Wednesday as he raised his price target on Southwest's shares to $39 thanks to the policy changes even though ""macro backdrop is glum.""The decision to ditch the two-free-checked bags is part of the airline's big profit-seeking makeover in which it is shedding other long-standing offerings like open-seating and single-class cabins for seat assignments and pricier extra legroom options.It will also start offering a no-frills, no-changes basic economy ticket. Flight credits will also soon have expiration dates. Last month, Southwest had its first-ever mass layoff, cutting about 15% of corporate jobs. It has also slashed unprofitable flying.Air travel hasn't stood still over the last half century, and while it's held onto many core tenets, neither has Southwest. It has gradually made changes over the years, starting to sell things like early boarding, for example. And with air travel breaking new records, assigned seating is necessary for both customers and to make the jobs of employees easier, Southwest executives have argued.Charging for checked bags was something Southwest leaders repeatedly said would cost it more than it could make. (U.S. carriers brought in more than $7 billion in baggage fees in 2023.)In a presentation at an investor day last September, Southwest said it would gain between $1 billion and $1.5 billion from charging for bags but lose $1.8 billion of market share.Southwest executives said that's changed.Hours after breaking the news to customers, CEO Bob Jordan said at a JPMorgan industry conference on Tuesday that ""in contrast to our previous analysis, actual customer booking behavior through our new booking channels such as metasearch, did not show that we are getting the same benefit from our bundled offering with free bags, which has led us to update the assumptions.""Jordan added that the carrier has new executives with ""direct experience implementing bag fees at multiple airlines, and that's also helped further validate the new assumptions.""But thousands joined in consumers' cri de coeur.Southwest posted on Instagram on Thursday, two days after its bombshell announcement, saying ""It's not like we traded Luka,"" a nod to the shocking February trade of Dallas Mavericks superstar Luka Doncic to the Los Angeles Lakers. As of Friday afternoon, the post, which also included information about the change, got more than 14,000 replies, far more than couple of hundred responses the account usually gets.""Taking a screen shot of this as it will be the thumbnail for the harvard business review case study of destroying a brand an entire company,"" replied Instagram user rappid_exposure.Frances Frei, a professor of technology and operations management at Harvard Business School, said that, indeed, no other company is likely as studied as Southwest.""I sure hope this isn't a case of activist investors coming in and insisting on a set of decisions that they won't be around to have to endure,"" she said. ""Great organizations get built over time. It doesn't take very long to ruin an organization, and I really don't want this to be an example of that.""Southwest's two checked bags-fly-free policy officially ends May 28 but for now the slogan is still found on board, printed on cocktail napkins.There will be exceptions: Customers who have a Southwest Airlines co-branded credit card can get one bag for free, and customers in its top tiers of service (read: pricier tickets) or its top-tier loyalty program members will get one to two free checked bags.Whether customers abandon Southwest or are simply reacting to the change remains to be seen.The CEOs of Delta, United and Spirit this week said they see an opportunity to win over customers who might turn away from Southwest.Many travelers won't have a lot of other options, however, with so much consolidation among U.S. carriers and stronghold hubs, though they might have to venture to other airports.Southwest has a roughly 73% share at Baltimore/Washington International Thurgood Marshall Airport, a more than 83% share in San Francisco Bay Oakland International Airport, and 89% share in Long Beach, California, according to aviation-data firm Cirium.The real test, Harvard's Frei said, will be whether the bag change will slow down Southwest's operation, with more customers bringing carry-on bags on board to avoid the checked luggage fees.""I just fear the cost is being underestimated,"" she said. ""It's real operational harm to Southwest if they go slower.""Southwest is already preparing its employees for an onslaught of customer luggage at the gate.Just after its announcement on Tuesday, Southwest told its employees in a memo that customers will ""undoubtedly carry on more luggage than before.""Gate agents will receive mobile bag-tag printers ""reducing the need for string bag tags"" and the company will design new carry-on size guides so customers can see if their luggage fits as a carry on, according to a staff memo sent by Justin Jones, EVP of operations, and Adam Decaire, senior vice president of network planning, a copy of which was seen by CNBC.The airline also plans to speed up retrofits of its Boeing 737-800s and Max aircraft with bigger overhead bins.Frei said not charging for bags, unlike the Costco $1.50 hot dog, is not a loss leader, something a company sells at a loss just to win over customers who might buy more expensive, and profitable, items.As much as it's been beloved by customers, the checked bag policy also had a helped the airline turn planes around faster.""The reason isn't because it's kinder to customers. It's because it's a fast turnaround airline,"" she said. ""If I charge for bags, you will be more likely to carry more luggage on board. And when you carry more luggage on board, I lose my fast turnaround advantage.""Southwest is confident that it's prepared for an increase in gate-checked bags and onboard luggage.""We have a series of work streams that are underway with our with our current operations, to make this not impact our turn times,"" COO Andrew Watterson said in an interview.Time will tell how it shakes out. For now, we have the $1.50 Costco hot dogs.",CNBC,15/03/2025,"['Almost nothing is guaranteed in life.', 'Certainly not weather, electricity, health, tariffs or eggs.', 'But for more than 50 years, American consumers could count on Southwest Airlines letting them check bags for free.', 'Dallas-based Southwest is ending the policy in May.', 'Customers are not happy.', '""It was the only reason I flew Southwest,"" said MaKensey Kaye Alford, a 21-year-old singer and actress who lives near Birmingham, Alabama.', 'Alford, who is planning to move to New York City later this year, said she would ""definitely"" consider taking another airline now.', ""Southwest's customer-friendly policies have survived recessions, oil price spikes and even the Covid-19 pandemic, winning it years of goodwill and a loyal following, even as it has grown."", 'No other airline carries more people in the United States than Southwest.', 'Now, the airline with an unrivaled streak of profitability (its almost never posted an annual loss) is under pressure to increase profits as big competitors outpace the airline.', ""So it's backpedaling off of years of banishing the thought that they would charge customers for bags, adding to other business-model tweaks like assigned seating that give it more in common with all other airlines."", 'Errol Joseph, 36, a sales consultant who lives in New York and Dallas, said he would now consider flying on Delta Air Lines if the price is the same as Southwest because its planes have seatback screens, unlike Southwest.', 'Joseph added that with baggage policy change, there\'s ""pretty much no reason to be loyal.', '""The bag policy had been around longer than most women were able to get credit cards on their own without a man\'s signature.', 'But those days are over.', 'No more freebies, America.', 'Retailers, restaurants and airlines are among the businesses that have been pulling back on free perks, from complimentary birthday coffees to free package returns, since the pandemic ended.', 'Increasingly, airline perks are only available for loyalty program members or customers who buy a more expensive ticket.', 'Delta offers customers free Wi-Fi on board, but only for those who have signed up for its SkyMiles loyalty program.', ""United Airlines is making a similar move, meanwhile, installing equipment on its planes so customers can soon connect to Elon Musk's Starlink satellite Wi-Fi for free if they are members of the airline's MileagePlus program."", ""It typically takes real financial pressure for companies to return to giveaways, but it's not unprecedented."", 'Starbucks, for example, got rid of upcharges for dairy alternatives to attract customers to try to reverse a sales slump.', ""Southwest's decision pits investors against customers."", 'Activist hedge fund and, as of last year, big Southwest shareholder Elliott Investment Management has been increasing pressure on the airline to raise its profits as rivals like Delta and United have pulled ahead.', 'Elliott pushed for faster changes at the carrier, which has been long hesitant to change, so it could increase revenue.', 'The firm last year won five board seats in a settlement with Southwest.', 'In fact, after Southwest unveiled the bag shift and other policy changes, its shares rose close to 9% this week, while Delta, United and American, each fell more than 11%.', 'CEOs of all the carriers raised concerns about weaker-than-expected travel demand, but Southwest bucked the trend, as it expects the changes to add hundreds of millions of dollars to its bottom line.', '""Shareholder activism is reshaping LUV into a company that we believe investors will eventually gravitate to,"" wrote Seaport Research Partners airline analyst Dan McKenzie in a note Wednesday as he raised his price target on Southwest\'s shares to $39 thanks to the policy changes even though ""macro backdrop is glum.', '""The decision to ditch the two-free-checked bags is part of the airline\'s big profit-seeking makeover in which it is shedding other long-standing offerings like open-seating and single-class cabins for seat assignments and pricier extra legroom options.', 'It will also start offering a no-frills, no-changes basic economy ticket.', 'Flight credits will also soon have expiration dates.', 'Last month, Southwest had its first-ever mass layoff, cutting about 15% of corporate jobs.', 'It has also slashed unprofitable flying.', ""Air travel hasn't stood still over the last half century, and while it's held onto many core tenets, neither has Southwest."", 'It has gradually made changes over the years, starting to sell things like early boarding, for example.', 'And with air travel breaking new records, assigned seating is necessary for both customers and to make the jobs of employees easier, Southwest executives have argued.', 'Charging for checked bags was something Southwest leaders repeatedly said would cost it more than it could make. (', 'U.S. carriers brought in more than $7 billion in baggage fees in 2023.)In a presentation at an investor day last September, Southwest said it would gain between $1 billion and $1.5 billion from charging for bags but lose $1.8 billion of market share.', ""Southwest executives said that's changed."", 'Hours after breaking the news to customers, CEO Bob Jordan said at a JPMorgan industry conference on Tuesday that ""in contrast to our previous analysis, actual customer booking behavior through our new booking channels such as metasearch, did not show that we are getting the same benefit from our bundled offering with free bags, which has led us to update the assumptions.', '""Jordan added that the carrier has new executives with ""direct experience implementing bag fees at multiple airlines,and that\'s also helped further validate the new assumptions.', '""But thousands joined in consumers\' cri de coeur.', 'Southwest posted on Instagram on Thursday, two days after its bombshell announcement, saying ""It\'s not like we traded Luka,"" a nod to the shocking February trade of Dallas Mavericks superstarLuka Doncic to the Los Angeles Lakers.', 'As of Friday afternoon, the post, which also included information about the change, got more than 14,000 replies, far more than couple of hundred responses the account usually gets.', '""Taking a screen shot of this as it will be the thumbnail for the harvard business review case study of destroying a brand an entire company,"" replied Instagram user rappid_exposure.', 'Frances Frei, a professor of technology and operations management at Harvard Business School, said that, indeed, no other company is likely as studied as Southwest.', '""I sure hope this isn\'t a case of activist investors coming in and insisting on a set of decisions that they won\'t be around to have to endure,"" she said. ""', 'Great organizations get built over time.', ""It doesn't take very long to ruin an organization, and I really don't want this to be an example of that."", '""Southwest\'s two checked bags-fly-free policy officially ends May 28 but for now the slogan is still found on board, printed on cocktail napkins.', 'There will be exceptions: Customers who have a SouthwestAirlinesco-branded credit card can get one bag for free, and customersin its top tiers of service (read: pricier tickets) or its top-tier loyalty program members will get one to two free checked bags.', 'Whether customers abandon Southwest or are simply reacting to the change remains to be seen.', 'The CEOs of Delta, United and Spirit this week said they see an opportunity to win over customers who might turn away from Southwest.', ""Many travelers won't have a lot of other options, however, with so much consolidation among U.S. carriers and stronghold hubs, though they might have to venture to other airports."", 'Southwest has a roughly 73% share at Baltimore/Washington International Thurgood Marshall Airport, a more than 83% share in San Francisco Bay Oakland International Airport, and 89% share in Long Beach, California, according to aviation-data firm Cirium.', ""The real test, Harvard's Frei said, will be whether the bag change will slow down Southwest's operation, with more customers bringing carry-on bags on board to avoid the checked luggage fees."", '""I just fear the cost is being underestimated,"" she said. ""', ""It's real operational harm to Southwest if they go slower."", '""Southwest is already preparing its employees for an onslaught of customer luggage at the gate.', 'Just after its announcement on Tuesday, Southwest told its employees in a memo that customers will ""undoubtedly carry on more luggage than before.', '""Gate agents will receive mobile bag-tag printers ""reducing the need for string bag tags"" and the company will design new carry-on size guides so customers can see if their luggage fits as a carry on, according to a staff memo sent by Justin Jones, EVP of operations, and Adam Decaire, senior vice president of network planning, a copy of which was seen by CNBC.The airline also plans to speed up retrofits of itsBoeing737-800s and Max aircraft with bigger overhead bins.', 'Frei said not charging for bags, unlike the Costco $1.50 hot dog, is not a loss leader, something a company sells at a loss just to win over customers who might buy more expensive, and profitable, items.', ""As much as it's been beloved by customers, the checked bag policy also had a helped the airline turn planes around faster."", '""The reason isn\'t because it\'s kinder to customers.', 'It\'s because it\'s a fast turnaround airline,"" she said. ""', 'If I charge for bags, you will be more likely to carry more luggage on board.', 'And when you carry more luggage on board, I lose my fast turnaround advantage.', '""Southwest is confident that it\'s prepared for an increase in gate-checked bags and onboard luggage.', '""We have a series of work streams that are underway with our with our current operations, to make this not impact our turn times,"" COO Andrew Watterson said in an interview.', 'Time will tell how it shakes out.', 'For now, we have the $1.50 Costco hot dogs.']",0.1903498908221562,"There will be exceptions: Customers who have a SouthwestAirlinesco-branded credit card can get one bag for free, and customersin its top tiers of service (read: pricier tickets) or its top-tier loyalty program members will get one to two free checked bags.","""I just fear the cost is being underestimated,"" she said. """,0.1440805991490682,"Southwest's customer-friendly policies have survived recessions, oil price spikes and even the Covid-19 pandemic, winning it years of goodwill and a loyal following, even as it has grown.",It has also slashed unprofitable flying.,2025-03-22
+Dollar General store review and closures dent fourth-quarter earnings,https://www.cnbc.com/2025/03/13/dollar-general-dg-q4-2024-earnings.html,2025-03-13T20:07:57+0000,"In this articleDollar General on Thursday reported fiscal fourth-quarter revenue that narrowly beat Wall Street estimates, while a store portfolio review cut into the chain's profit.As part of the reevaluation, the dollar-store chain said it will close 96 Dollar General stores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations in the first quarter. Popshelf stores cater to higher-income shoppers seeking inexpensive products.On the company's earnings call, CEO Todd Vasos warned consumers ""only have enough money for basic essentials"" and that the macro environment isn't likely to improve this year.Shares of the company closed up nearly 7% on Thursday.Here's how the discounter did compared with what Wall Street was expecting for the quarter ended Jan. 31, based on a survey of analysts by LSEG:Fourth-quarter revenue rose 4.5% from $9.86 billion during the same quarter in 2023. Revenue for the full year came in at $40.61 billion, up almost 5% from $38.69 billion in 2023.For fiscal 2025, the chain forecasts revenue to grow between 3.4% and 4.4%, while Wall Street was expecting annual growth of 4.1%, according to LSEG. Dollar General expects earnings per share for the year to come in between $5.10 and $5.80, slightly under the $5.85 anticipated by analysts, according to LSEG.Dollar General reported fourth-quarter net income of $191 million, or 87 cents per share, compared with net income of $402 million, or $1.83 per share, during the same quarter a year prior.The discounter said its portfolio review impacted earnings per share by 81 cents.Operating profit for the quarter fell over 49% year over year to $294 million. The company attributed $232 million in charges to the store closures from the portfolio review as well as Popshelf impairment charges.""As we look to build on the substantial progress we made on our Back to Basics work in fiscal 2024, we believe this review was appropriate to further strengthen the foundation of our business,"" said Vasos in a news release. ""While the number of closings represents less than one percent of our overall store base, we believe this decision better positions us to serve our customers and communities.""Same-store sales, which Dollar General defines as revenue from stores open for at least 13 months, grew 1.2% year over year for the quarter. They're expected to grow 1.2% to 2.2% for the coming fiscal year, the company said.Dollar General announced in December that it was testing same-day delivery for customers. As inflation takes a toll on lower-income consumers, dollar stores like Dollar General and Dollar Tree have faced increased competition from retailers like Walmart with greater e-commerce presences.In January, Dollar General said it would begin selling about 100 new private-brand products, most of which will fall under its Clover Valley label and includes items such as honey mustard and cinnamon rolls, in the first quarter.",CNBC,13/03/2025,"[""In this articleDollar General on Thursday reported fiscal fourth-quarter revenue that narrowly beat Wall Street estimates, while a store portfolio review cut into the chain's profit."", 'As part of the reevaluation, the dollar-store chain said it will close 96Dollar Generalstores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations in the first quarter.', 'Popshelf stores cater to higher-income shoppers seeking inexpensive products.', 'On the company\'s earnings call, CEO Todd Vasos warned consumers ""only have enough money for basic essentials"" and that the macro environment isn\'t likely to improve this year.', 'Shares of the company closed up nearly 7% on Thursday.', ""Here's how the discounter did compared with what Wall Street was expecting for the quarter ended Jan. 31, based on a survey of analysts by LSEG:Fourth-quarter revenue rose 4.5% from $9.86 billion during the same quarter in 2023."", 'Revenue for the full year came in at $40.61 billion, up almost 5% from $38.69 billion in 2023.For fiscal 2025, the chain forecasts revenue to grow between 3.4% and 4.4%, while Wall Street was expecting annual growth of 4.1%, according to LSEG.', 'Dollar General expects earnings per share for the year to come in between $5.10 and $5.80, slightly under the $5.85 anticipated by analysts, according to LSEG.Dollar General reported fourth-quarter net income of $191 million, or 87 cents per share, compared with net income of $402 million, or $1.83 per share, during the same quarter a year prior.', 'The discounter said its portfolio review impacted earnings per share by 81 cents.', 'Operating profit for the quarter fell over 49% year over year to $294 million.', 'The company attributed $232 million in charges to the store closures from the portfolio review as well as Popshelf impairment charges.', '""As we look to build on the substantial progress we made on our Back to Basics work in fiscal 2024, we believe this review was appropriate to further strengthen the foundation of our business,"" saidVasos in a news release. ""', 'While the number of closings represents less than one percent of our overall store base, we believe this decision better positions us to serve our customers and communities.', '""Same-store sales, which Dollar General defines as revenue from stores open for at least 13 months, grew 1.2% year over year for the quarter.', ""They're expected to grow 1.2% to 2.2% for the coming fiscal year, the company said."", 'Dollar General announced in December that it was testing same-day delivery for customers.', 'As inflation takes a toll on lower-income consumers, dollar stores like Dollar General and Dollar Tree have faced increased competition from retailers like Walmart with greater e-commerce presences.', 'In January, Dollar General said it would begin selling about 100 new private-brand products, most of which will fall under its Clover Valley label and includes items such as honey mustard and cinnamon rolls, in the first quarter.']",0.2379552392793426,"As inflation takes a toll on lower-income consumers, dollar stores like Dollar General and Dollar Tree have faced increased competition from retailers like Walmart with greater e-commerce presences.",The company attributed $232 million in charges to the store closures from the portfolio review as well as Popshelf impairment charges.,0.0338358084360758,"Revenue for the full year came in at $40.61 billion, up almost 5% from $38.69 billion in 2023.For fiscal 2025, the chain forecasts revenue to grow between 3.4% and 4.4%, while Wall Street was expecting annual growth of 4.1%, according to LSEG.",Operating profit for the quarter fell over 49% year over year to $294 million.,2025-03-22
+Auto suppliers face more dire circumstances than automakers amid Trump tariffs,https://www.cnbc.com/2025/03/19/auto-suppliers-automakers-trump-tariffs.html,2025-03-19T19:14:58+0000,"DETROIT — President Donald Trump's proposed tariffs on goods from Mexico and Canada would hit automotive suppliers harder than automakers, but their problems could quickly have ripple effects on the broader industry. Most vehicles produced in North America meet the requirements for free trade under the United States-Mexico-Canada Agreement, but far fewer individual parts meet the stringent standards under the 2020 North American trade deal that was negotiated by Trump, according to federal trade reporting data.USMCA compliance is important for automakers and suppliers. Products that meet the standards, which most notably include rules about where a part or material can be produced, are currently able to avoid 25% North American tariffs until the expanded levies are set to take effect April 2.Companies are lobbying the Trump administration to continue allowing parts and vehicles that meet USMCA regulations to remain tariff-free. Such tariffs are added challenges for a less robust post-Covid automotive supply chain that continues to face high interest rates, labor shortages and lower profits. There are far more suppliers than automakers, many of which may only produce a few parts that could cause production disruptions if they are forced to close due to higher costs.Shares of many larger publicly traded suppliers, such as American Axle & Manufacturing Holdings, Magna International and Adient, are down double digits this year amid the tariffs. Others such as Aptiv and Lear Corp. are roughly flat.""There's clearly not the profitability in the supply chain to absorb the tariffs,"" Collin Shaw, president of the MEMA Original Equipment Suppliers association, told CNBC. ""Suppliers are more at risk, seeing that a lower percentage of suppliers aren't USMCA compliant.""Roughly 63% of motor vehicle parts imported from Mexico into the United States in 2024 were complaint with USMCA standards. That compares with 92.1% of motor vehicles.For Canada, 74.6% of motor vehicle parts and 96.9% of vehicles were imported tariff-free under USMCA in 2024. That includes 170 Canadian parts suppliers that operate facilities in 26 states, according to the Automotive Parts Manufacturers' Association in Canada.The vehicle and parts compliancy comes from publicly available trade data from the U.S. International Trade Commission based on the value of the imported goods for consumptiom. A small minority of the non-compliant goods that didn't claim a trade program such as USMCA may have been imported tariff-free if they were being sold to the government or for other reasons. To be USMCA compliant, 75% of vehicle content must be sourced from the U.S., Canada or Mexico, with additional requirements, such as that 40% of core parts and 70% of steel and aluminum must be sourced regionally.""I think that if we get auto tariffs that shut down the industry, many interests in our business are going to end up in court looking for an emergency state,"" said Flavio Volpe, an advocate for Canada's auto industry who leads the APMA. ""Everybody's nervous.""Shaw, whose organization represents more than 800 auto suppliers in North America, said the supply chain is ""resilient"" but there's also a ""fragility"" that makes major shifts in policy difficult to address quickly.""What I'd say is very difficult, is the whipsaw back and forth,"" Shaw said. ""The notion that we can very easily bring these things back — it can be done. It takes time though.""In general, Shaw said it can take years to move a plant and build a new one. Permitting for a new plant can take six to 12 months. It can take another 12 months to 18 months, if not more, to build the facility, followed by another year or more in tooling and ramping up production.The parts that are produced for a vehicle impact whether an entire car or truck is compliant, but many major parts such as engines and transmissions are assembled locally, assisting compliancy for the finished product. The same cannot be said for parts such as wire harnesses, batteries and other smaller components.For example, BMW said its vehicles being produced in Mexico are not USMCA compliant, largely because the engines for the vehicles are imported from Europe. Engines and transmissions tend to cross borders less often than a part that would go into one of those main components.""This a complicated agreement,"" said Kristin Dziczek, automotive policy advisor for the Federal Reserve Bank of Chicago, during its annual auto conference last month in Detroit. ""So there are different categories here of components and parts and vehicles and different thresholds of what they had to phase up to for having USMCA sourcing in order to get a zero tariff for trade within the U.S.""Since Trump's USMCA went into effect and replaced the North American Free Trade Agreement in 2020, compliancy for both motor vehicles and parts from Mexico has notably declined, meaning more tariffs are likely being paid. Duty-free vehicles are down from 99.7% in 2019 to 92.1% in 2024, while vehicle parts are down from about 75% in 2019 to 62.5% in 2024. Canada's free trade-compliant motor vehicle parts have decreased from 83.1% in 2019 to about 75% in 2024. Tariff-free vehicle imports from Canada are slightly down from 98.8% in 2019 to about 97% last year.Auto suppliers have been adamant that they will not or cannot taken on the 25% increased costs on non-compliant USMCA parts — tariffs that could be in addition to levies on steel and aluminum and other materials.Swamy Kotagiri is CEO of Canada-based Magna, a major global supplier for automakers that also does some contract manufacturing for automakers. He described the proposed tariffs as being ""absolutely disruptive to the industry.""""This is the industry issue. I believe very strongly that it cannot be addressed by any one constituent,"" Kotagiri, an auto industry veteran, told CNBC during an interview last month. ""Given the magnitude that is being discussed and talked about, it absolutely not possible for the suppliers to take on this.""A survey earlier this month of 139 suppliers conducted by MEMA found the majorities of parts makers were affected by the steel and aluminum tariffs, with 97% expressing concerns about tariff-induced financial distress at smaller, ""subtier"" suppliers.Such suppliers typically make smaller parts but can easily cause disruptions in the supply chain if their production is impacted. The importance of such suppliers was prominent during the coronavirus pandemic, when global supply chains were routinely being upended due to parts disruptions.Executives with France-based auto supplier Forvia earlier this month said the company and its customers, including automakers, have been planning different contingency plans for the tariffs.""The whole supply chain cannot swallow 25%,"" Forvia CEO Martin Fischer said during a media event. ""Cars will get more expensive for consumers if tariffs continue for a long time. The industry cannot ship at losses and swallow 25%.""",CNBC,19/03/2025,"[""DETROIT —President Donald Trump's proposed tariffson goods from Mexico and Canadawould hit automotive suppliers harder than automakers, but their problems could quickly have ripple effects on the broader industry."", 'Most vehicles produced in North America meet the requirements for free trade under theUnited States-Mexico-Canada Agreement,but far fewer individual parts meet the stringent standards under the 2020 North American trade deal that was negotiated by Trump, according to federal trade reporting data.', 'USMCA compliance is important for automakers and suppliers.', 'Products that meet the standards, which most notably include rules about where a part or material can be produced, are currently able to avoid 25% North American tariffs untiltheexpanded levies are set to take effect April 2.Companies are lobbying the Trump administration to continue allowing parts and vehicles that meet USMCA regulations to remain tariff-free.', 'Such tariffs are added challenges for a less robust post-Covid automotive supply chain that continues to face high interest rates, labor shortages and lower profits.', 'There are far more suppliers than automakers, many of which may only produce a few parts that could cause production disruptions if they are forced to close due to higher costs.', 'Shares of many larger publicly traded suppliers, such as American Axle & Manufacturing Holdings, Magna International and Adient, are down double digits this year amid the tariffs.', 'Others such as Aptiv and Lear Corp. are roughly flat.', '""There\'s clearly not the profitability in the supply chain to absorb the tariffs,"" Collin Shaw, president of the MEMA Original Equipment Suppliers association, told CNBC. ""', ""Suppliers are more at risk, seeing that a lower percentage of suppliers aren't USMCA compliant."", '""Roughly 63% of motor vehicle parts imported from Mexico into the United States in 2024 were complaint with USMCA standards.', 'That compares with 92.1% of motor vehicles.', ""For Canada, 74.6% of motor vehicle parts and 96.9% of vehicles were imported tariff-free under USMCA in 2024.That includes 170 Canadian parts suppliers that operate facilities in 26 states, according to theAutomotive Parts Manufacturers' Associationin Canada."", 'The vehicle and parts compliancy comes from publicly available trade data from the U.S. International Trade Commission based on the value of the imported goods for consumptiom.', ""A small minority of the non-compliant goods that didn't claim a trade program such as USMCA may have been imported tariff-free if they were being sold to the government or for other reasons."", 'To be USMCA compliant, 75% of vehicle content must be sourced from the U.S., Canada or Mexico, with additional requirements, such as that 40% of core parts and 70% of steel and aluminum must be sourced regionally.', '""I think that if we get auto tariffs that shut down the industry, many interests in our business are going to end up in court looking for an emergency state,"" said Flavio Volpe, an advocate for Canada\'s auto industry who leads the APMA. ""', ""Everybody's nervous."", '""Shaw, whose organization represents more than 800 auto suppliers in North America, said the supply chain is ""resilient"" but there\'s also a ""fragility"" that makes major shifts in policy difficult to address quickly.', '""What I\'d say is very difficult, is the whipsaw back and forth,"" Shaw said. ""', 'The notion that we can very easily bring these things back — it can be done.', 'It takes time though.', '""In general, Shaw said it can take years to move a plant and build a new one.', 'Permitting for a new plant can take six to 12 months.', 'It can take another 12 months to 18 months, if not more, to build the facility, followed by another year or more in tooling and ramping up production.', 'The parts that are produced for a vehicle impact whether an entire car or truck is compliant, but many major parts such as engines and transmissions are assembled locally, assisting compliancy for the finished product.', 'The same cannot be said for parts such as wire harnesses, batteries and other smaller components.', 'For example, BMW said its vehicles being produced in Mexico are not USMCA compliant, largely because the engines for the vehicles are imported from Europe.', 'Engines and transmissions tend to cross borders less often than a part that would go into one of those main components.', '""This a complicated agreement,"" said Kristin Dziczek, automotive policy advisor for the Federal Reserve Bank of Chicago, during its annual auto conference last month in Detroit. ""', 'So there are different categories here of components and parts and vehicles and different thresholds of what they had to phase up to for having USMCA sourcing in order to get a zero tariff for trade within the U.S.""Since Trump\'s USMCA went into effect and replaced the North American Free Trade Agreement in 2020, compliancy for both motor vehicles and parts from Mexico has notably declined, meaning more tariffs are likely being paid.', ""Duty-free vehicles are down from 99.7% in 2019 to 92.1% in 2024, while vehicle parts are down from about 75% in 2019 to 62.5% in 2024.Canada's free trade-compliant motor vehicleparts havedecreased from 83.1% in 2019 to about 75% in 2024."", 'Tariff-free vehicle importsfrom Canadaare slightly down from 98.8% in 2019 to about 97% last year.', 'Auto suppliers have been adamant that they will not or cannot taken on the 25% increased costs on non-compliant USMCA parts — tariffs that could be in addition to levies on steel and aluminum and other materials.', 'Swamy Kotagiri is CEO of Canada-based Magna, a major global supplier for automakers that also does some contract manufacturing for automakers.', 'He described the proposed tariffs as being ""absolutely disruptive to the industry.', '""""This is the industry issue.', 'I believe very strongly that it cannot be addressed by any one constituent,"" Kotagiri, an auto industry veteran, told CNBC during an interview last month. ""', 'Given the magnitude that is being discussed and talked about, it absolutely not possible for the suppliers to take on this.', '""A survey earlier this month of 139 suppliers conducted by MEMA found the majorities of parts makers were affected by the steel and aluminum tariffs, with 97% expressing concerns about tariff-induced financial distress at smaller, ""subtier"" suppliers.', 'Such suppliers typically make smaller parts but can easily cause disruptions in the supply chain if their production is impacted.', 'The importance of such suppliers was prominent during the coronavirus pandemic, when global supply chains were routinely being upended due to parts disruptions.', 'Executives with France-based auto supplier Forvia earlier this month said the company and its customers, including automakers, have been planning different contingency plans for the tariffs.', '""The whole supply chain cannot swallow 25%,"" Forvia CEO Martin Fischer said during a media event. ""', 'Cars will get more expensive for consumers if tariffs continue for a long time.', 'The industry cannot ship at losses and swallow 25%.""']",0.0861533070293069,"Duty-free vehicles are down from 99.7% in 2019 to 92.1% in 2024, while vehicle parts are down from about 75% in 2019 to 62.5% in 2024.Canada's free trade-compliant motor vehicleparts havedecreased from 83.1% in 2019 to about 75% in 2024.","There are far more suppliers than automakers, many of which may only produce a few parts that could cause production disruptions if they are forced to close due to higher costs.",-0.7869567573070526,That compares with 92.1% of motor vehicles.,Tariff-free vehicle importsfrom Canadaare slightly down from 98.8% in 2019 to about 97% last year.,2025-03-22
+"Darden Restaurants sales disappoint, but Olive Garden parent sees consumers continuing to spend",https://www.cnbc.com/2025/03/20/darden-restaurants-dri-q3-2025-earnings.html,2025-03-20T20:45:10+0000,"In this articleDarden Restaurants on Thursday reported weaker-than-expected sales as Olive Garden and LongHorn Steakhouse underperformed analysts' projections.The restaurant company blamed weather for the sales slowdown and maintained its full-year forecast, lifting investors' confidence that the rough quarter was a blip.Darden shares rose 5% Thursday.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Darden reported fiscal third-quarter net income of $323.4 million, or $2.74 per share, up from $312.9 million, or $2.60 per share, a year earlier.Excluding costs related to its acquisition of Chuy's, Darden earned $2.80 per share.Net sales rose 6.2% to $3.16 billion, fueled largely by the addition of Chuy's restaurants to its portfolio.Darden's same-store sales rose 0.7%, less than the 1.7% increase expected by analysts, according to StreetAccount estimates.Executives blamed this winter's low temperatures and snowstorms for the disappointing quarter ended Feb. 23. When excluding weather, same-store sales across all four of Darden's segments grew during the quarter, and only consumers making less than $50,000 were spending less at its casual-dining restaurants.""Even if [consumers] say they're feeling feeling less optimistic, we haven't seen a huge correlation between that and dining out,"" CEO Rick Cardenas told analysts on the company's conference call. ""So I think as long as incomes are going up and outpacing inflation, I think they're likely to keep spending.""Both Olive Garden and LongHorn Steakhouse, which are typically the two standouts of Darden's portfolio, reported underwhelming same-store sales growth. Olive Garden's same-store sales rose 0.6%. Analysts were anticipating same-store sales growth of 1.5%. And LongHorn's same-store sales increased 2.6%, missing analysts' expectations of 5% growth.In February, Olive Garden finished rolling out delivery with Uber Direct. The chain's delivery customers typically spend 20% more than the average curbside pickup order, and Olive Garden saw delivery order volume increase every week.""Now at the end of the third quarter, our pilot restaurants were running around 2.5% of sales in delivery, and the other restaurants were following that same pattern,"" Cardenas said.In the first three weeks of March, both Olive Garden and LongHorn saw strong momentum, executives said.Darden's fine dining segment, which includes The Capital Grille and Ruth's Chris Steak House, reported same-store sales declines of 0.8%. The segment saw stronger demand during the holiday season, but consumers pulled back again in the new year.""We are seeing more persistent check management post-holidays, so I guess we're not ready to claim victory yet on fine dining. It's still soft,"" CFO Raj Vennam said.The last segment of Darden's business, which includes Cheddar's Scratch Kitchen and Yard House, saw same-store sales shrink 0.4% in the quarter.For the full year, Darden reiterated its forecast for revenue of $12.1 billion. It narrowed its outlook for adjusted earnings from continuing operations to a range of $9.45 to $9.52 per share. Its prior forecast was $9.40 to $9.60 per share.Darden's fiscal 2025 outlook includes Chuy's results, but the Tex-Mex chain won't be included in its same-store sales metrics until the fiscal fourth quarter in 2026.Correction: A previous version of this story misattributed a quote about Darden's fine-dining business.",CNBC,20/03/2025,"[""In this articleDarden Restaurants on Thursday reported weaker-than-expected sales as Olive Garden and LongHorn Steakhouse underperformed analysts' projections."", ""The restaurant company blamed weather for the sales slowdown and maintained its full-year forecast, lifting investors' confidence that the rough quarter was a blip."", 'Darden shares rose 5% Thursday.', ""Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Darden reported fiscal third-quarter net income of $323.4 million, or $2.74 per share, up from $312.9 million, or $2.60 per share, a year earlier."", ""Excluding costs related to its acquisition of Chuy's, Darden earned $2.80 per share."", ""Net salesrose 6.2% to $3.16 billion, fueled largely by the addition of Chuy's restaurants to its portfolio."", ""Darden's same-store sales rose 0.7%, less than the 1.7% increase expected by analysts, according to StreetAccount estimates."", ""Executives blamed this winter's low temperatures and snowstorms for the disappointing quarter ended Feb. 23."", ""When excluding weather, same-store sales across all four of Darden's segments grew during the quarter, and only consumers making less than $50,000 were spending less at its casual-dining restaurants."", '""Even if [consumers] say they\'re feeling feeling less optimistic, we haven\'t seen a huge correlation between that and dining out,"" CEO Rick Cardenas told analysts on the company\'s conference call. ""', ""So I think as long as incomes are going up and outpacing inflation, I think they're likely to keep spending."", '""Both Olive Garden and LongHorn Steakhouse, which are typically the two standouts of Darden\'s portfolio, reported underwhelming same-store sales growth.', ""Olive Garden's same-store sales rose 0.6%."", 'Analysts were anticipating same-store sales growth of 1.5%.', ""And LongHorn's same-store sales increased 2.6%, missing analysts' expectations of 5% growth."", 'In February, Olive Garden finished rolling out delivery with Uber Direct.', ""The chain's delivery customers typically spend 20% more than the average curbside pickup order, and Olive Garden saw delivery order volume increase every week."", '""Now at the end of the third quarter, our pilot restaurants were running around 2.5% of sales in delivery, and the other restaurants were following that same pattern,"" Cardenas said.', 'In the first three weeks of March, both Olive Garden and LongHorn saw strong momentum, executives said.', ""Darden's fine dining segment, which includes The Capital Grille and Ruth's Chris Steak House, reported same-store sales declines of 0.8%."", 'The segment saw stronger demand during the holiday season, but consumers pulled back again in the new year.', '""We are seeing more persistent check management post-holidays, so I guess we\'re not ready to claim victory yet on fine dining.', 'It\'s still soft,"" CFO Raj Vennam said.', ""The last segment of Darden's business, which includes Cheddar's Scratch Kitchen and Yard House, saw same-store sales shrink 0.4% in the quarter."", 'For the full year, Darden reiterated its forecast for revenue of $12.1 billion.', 'It narrowed its outlook for adjusted earnings from continuing operations to a range of $9.45 to $9.52 per share.', 'Its prior forecast was $9.40 to $9.60 per share.', ""Darden's fiscal 2025 outlook includes Chuy's results, but the Tex-Mex chain won't be included in its same-store sales metrics until the fiscal fourth quarter in 2026.Correction: A previous version of this story misattributed a quote about Darden's fine-dining business.""]",0.1686304830209421,"""Even if [consumers] say they're feeling feeling less optimistic, we haven't seen a huge correlation between that and dining out,"" CEO Rick Cardenas told analysts on the company's conference call. """,Executives blamed this winter's low temperatures and snowstorms for the disappointing quarter ended Feb. 23.,0.45543680136854,Olive Garden's same-store sales rose 0.6%.,"Darden's fine dining segment, which includes The Capital Grille and Ruth's Chris Steak House, reported same-store sales declines of 0.8%.",2025-03-22
+DC housing market shows signs of cracks amid mass federal layoffs,https://www.cnbc.com/2025/03/13/washington-dc-housing-market-shows-cracks-amid-federal-layoffs.html,2025-03-13T20:11:17+0000,"The supply of homes for sale across the nation always rises ahead of the busy spring market, but the Washington, D.C., metropolitan area is seeing an outsized increase, according to Realtor.com.Inventory gains in the region, which includes the District as well as Maryland and Virginia suburbs, began to accelerate in January and February, up 35.9% and 41% year over year, respectively. Inventory in the area from June to December had already been 20% to 30% higher than the previous year, but the increases accelerated even further in recent months.As of last week, active listings were up 56% compared with the same week one year ago.""The adjustment period following federal layoffs and funding cuts has likely put some Washington D.C. home searches on hold, both for those whose jobs have been directly impacted and those who may be concerned about what's ahead, and the data hints at these challenges,"" wrote Danielle Hale, chief economist for Realtor.com, in a release.For comparison, active listings nationally were up 28% last week compared with the same week in 2024, according to Realtor.com, coinciding with a decline in mortgage rates. The average rate on the popular 30-year fixed loan was around 7.25% in mid-January but fell steadily to 6.82% now, according to Mortgage News Daily.The inventory gains in the D.C. area are not all due to people putting their homes on the market. New listings rose, but by much less than overall inventory, so the increase in overall supply is a combination of new listings and slowing buyer activity.New listings were 24% higher year over year last week, contributing to the increase in for-sale inventory and dropping median days on market, Realtor.com found. New listings year to date are 11.9% above the year-ago level, but still 12.8% below where they were in 2022, according to Hale.There also may be an outsized bump in inventory due to newly built condominiums and townhomes coming on the market now. Construction in the D.C. area has been very active over the past few years. The share of new construction listings is tilted much more toward condos than it was five years ago.As for prices, the median list price in the D.C. metro area was down 1.6% year over year last week. For context, in the fourth quarter of last year, that median list price was down 1.5% annually.The median list price nationally, as of last week, was down 0.2%, though it is heavily skewed by the type of home for sale. Controlling for the size of home, the median list price per square foot increased 1.2% annually, which means there are more smaller or lower-end homes on the market compared to last year. ""While D.C. has the largest share of federal workers in the country, other highly federally employed markets could see similar shifts in the coming weeks or months,"" said Hale. ""While I expect many households will choose to stay in the area and pivot to find new job opportunities, some will likely choose to leave and retire or find a job elsewhere.""",CNBC,13/03/2025,"['The supply of homes for sale across the nation always rises ahead of the busy spring market, but the Washington, D.C., metropolitan area is seeing an outsized increase, according to Realtor.com.', 'Inventory gains in the region, which includes the District as well as Maryland and Virginia suburbs, began to accelerate in January and February, up 35.9% and 41% year over year, respectively.', 'Inventory in the area from June to December had already been 20% to 30% higher than the previous year, but the increases accelerated even further in recent months.', 'As of last week, active listings were up 56% compared with the same week one year ago.', '""The adjustment period following federal layoffs and funding cuts has likely put some Washington D.C. home searches on hold, both for those whose jobs have been directly impacted and those who may be concerned about what\'s ahead, and the data hints at these challenges,"" wrote Danielle Hale, chief economist for Realtor.com, in a release.', 'For comparison, active listings nationally were up 28% last week compared with the same week in 2024, according to Realtor.com, coinciding with a decline in mortgage rates.', 'The average rate on the popular 30-year fixed loan was around 7.25% in mid-January but fell steadily to 6.82% now, according to Mortgage News Daily.', 'The inventory gains in the D.C. area are not all due to people putting their homes on the market.', 'New listings rose, but by much less than overall inventory, so the increase in overall supply is a combination of new listings and slowing buyer activity.', 'New listings were 24% higher year over year last week, contributing to the increase in for-sale inventory and dropping median days on market, Realtor.com found.', 'New listings year to date are 11.9% above the year-ago level, but still 12.8% below where they were in 2022, according to Hale.', 'There also may be an outsized bump in inventory due to newly built condominiums and townhomes coming on the market now.', 'Construction in the D.C. area has been very active over the past few years.', 'The share of new construction listings is tilted much more toward condos than it was five years ago.', 'As for prices, the median list price in the D.C. metro area was down 1.6% year over year last week.', 'For context, in the fourth quarter of last year, that median list price was down 1.5% annually.', 'The median list price nationally, as of last week, was down 0.2%, though it is heavily skewed by the type of home for sale.', 'Controlling for the size of home, the median list price per square foot increased 1.2% annually, which means there are more smaller or lower-end homes on the market compared to last year.', '""While D.C. has the largest share of federal workers in the country, other highly federally employed markets could see similar shifts in the coming weeks or months,"" said Hale. ""', 'While I expect many households will choose to stay in the area and pivot to find new job opportunities, some will likely choose to leave and retire or find a job elsewhere.""']",0.2219384292513283,"Inventory gains in the region, which includes the District as well as Maryland and Virginia suburbs, began to accelerate in January and February, up 35.9% and 41% year over year, respectively.","""The adjustment period following federal layoffs and funding cuts has likely put some Washington D.C. home searches on hold, both for those whose jobs have been directly impacted and those who may be concerned about what's ahead, and the data hints at these challenges,"" wrote Danielle Hale, chief economist for Realtor.com, in a release.",0.2502719724879545,"For comparison, active listings nationally were up 28% last week compared with the same week in 2024, according to Realtor.com, coinciding with a decline in mortgage rates.","The average rate on the popular 30-year fixed loan was around 7.25% in mid-January but fell steadily to 6.82% now, according to Mortgage News Daily.",2025-03-22
+How new professional sports leagues like SailGP are putting women at the fore,https://www.cnbc.com/2025/03/19/sailgp-professional-sports-leagues-put-women-at-fore.html,2025-03-20T13:55:31+0000,"As women's sports surge in popularity, professional leagues are increasingly touting the value of female athletes. New professional leagues like SailGP are launching with the advantage of building from the ground up, with gender diversity as part of their DNA.Noncontact and noncollision sports are leading the way. Formula 1's F1 Academy has created a pipeline for women into motorsports, with a goal of increasing female participation and representation on and off the racetrack. At the same time, it's drawing a more diverse fanbase. Roughly 41% of F1 fans now are female, with women aged 16 to 24 years old making up the fastest-growing fan group, according to Nielsen Sports.Professional male and female athletes are already competing alongside and against each other in the United Pickleball Association's unified league, the Global Mixed Gender Basketball league and in SailGP, the international sailing league co-founded by Oracle founder Larry Ellison and champion yachtsman Russell Coutts. Founded in 2018, the upstart sailing league involves 12 international teams racing on high-speed, 50-foot Catamarans, known as F50s. At speeds of more than 60 mph, SailGP is gaining a reputation as a sort of Formula 1 on the water.""The whole goal is to train athletes to be capable of racing on an F50, which is one of the more complex boats in the world – maybe the most difficult boat to race in the world right now,"" said Coutts, who is also SailGP's chief executive officer. The league didn't set out with gender equity goals in mind, Coutts said, but simply sought to create the most compelling competition.  ""We believe that male and female athletes can compete at the top of our sport against each other and with each other, so when we we saw that there was a difference in participation levels – and didn't really see any logical reason for that – we took some steps to address that and we'll take further steps in the future,"" said Coutts. To bridge the experience gap most female sailors face, SailGP created programs to draw and train talent. In December, its Women's Performance Camp in Dubai, United Arab Emirates, marked its largest on-the-water women's athlete training camp to date. The league also requires each team to have at least one female athlete onboard during races and has set targets to have at least two female athletes per race crew in key positions within the next five years. Those key positions are the driver, who steers the boat; the strategist, who advises on tactics; the wing trimmer, who adjusts the 85- to 90-foot carbon-fiber wing sail; and the flight controller, who dictates how high or low the boat flies over the water.The next SailGP races take place Saturday and Sunday in San Francisco, the second in back-to-back U.S. weekend races. SailGP has embedded inclusivity and sustainability into the competition via an Impact League that runs parallel to the on-the-water championship. Teams earn points for taking action to make sailing more accessible and to protect the environment in order to reach the podium. Winning teams earn cash prize donations to their partners. The Canadian team is in the lead in the Impact League thanks to its work to offer training opportunities, sailing camps and demo days to introduce foiling to new Canadian athletes.""That changes the mindframe of very competitive people to care, and to compete, in a world of impact and sustainability as well,"" said SailGP Chief Marketing Officer Leah Davis. ""When you challenge the world's most competitive people to be good at something else, they will turn their eyes to that pretty quickly, and in a pretty impactful way.""Off the water, 43% of SailGP's C-suite is female, up from just 14% in 2021. For comparison, 29% of C-suite roles at Fortune 500 companies are held by women, according to McKinsey's Women in the Workplace 2024 report. The league last year introduced Apex Group's accelerator program, aimed at increasing female representation at senior levels of the company. It has also introduced initiatives to train more women on the operations, technology and boat-building side of the business. For example, SailGP Technologies based in Southampton, U.K., offers an apprenticeship training scheme – eight participants join the program each year, four male and four female. Today, 33% of directors at SailGP and 52% of heads of departments are female.The overall business strategy is helping to grow the league's appeal to a new set of fans. For the first time in its history, more than half of the ticket holders in attendance at last season's New Zealand Championships in March were female, a trend that has held steady this season.""This demographic has been underserved in sports,"" said SailGP Chief Purpose Officer Fiona Morgan. ""A huge part of our headroom in fans is young fans – and actually they're female fans – who probably didn't think about sailing, but they like extreme sports or sustainability, or they like sports that have gender equity at the heart.""In June, Tommy Hilfiger was announced as the United States SailGP team's official lifestyle apparel partner, joining brands such as Red Bull, Emirates, Mubadala, Rockwool and Deutsche Bank in sponsoring individual teams. In November, SailGP announced it had signed Rolex as its first title sponsor.""I don't think many brands nowadays will go into sponsorship that doesn't have diversity or equity at some point in it,"" said Morgan. ""Their consumers and their investors will ensure they do that."" In September, the league achieved a major milestone, announcing its first female driver. Two-time Olympic sailing champion Martine Grael joined for the 2024-25 season to skipper the new Mubadala Brazil SailGP Team, making history and immediately climbing the leaderboard. After championships in Dubai, Auckland, New Zealand, Sydney and Los Angeles, teams from the U.K., Australia and New Zealand are leading the league. Grael has steered her team ahead of the Germany SailGP team, and is proving competitive against the more experienced United States team.""In the past — and still nowadays — you see a lot of people say, 'Girls shouldn't do that,'"" Grael said. Her response is to call out that old way of thinking: ""Shouldn't do what?""Grael credits much of her early success to familiarizing herself with the boats using SailGP's simulator, developing muscle memory before even getting on the water. Unlike traditional boats built with male sailors in mind, SailGP's modern foiling boats open opportunities for women in roles that do not require as much physical strength, she said. Knowing when to push a button and developing a good feel for the boat are equally important to the more physical functions, said Grael. ""Some guys have failed to understand that a girl is very much capable of doing the same role they're doing,"" she said.Grael is among a number of top female athletes competing in key positions in SailGP – including Emirates Great Britain Team's strategist Hannah Mills and the U.S. team's Anna Weis – and says though women are still in the minority, things are changing.Together with women competing in marquee races – like Switzerland's Justine Mettraux, who took eighth place in the Vendée Globe single-handed, nonstop, nonassisted round-the-world race this year – they are carving a path for a new cohort of women to gain opportunities and make their mark.""We have been less limited — I grew up never being told I shouldn't do something,"" said Grael. ""There's a big generation of others looking at us, and they're going to come out strong.""Correction: This story has been updated to correct that SailGP teams from the U.K., Australia and New Zealand are leading the league. It's also been updated to correct the name of SailGP's Women's Performance Camp.",CNBC,20/03/2025,"[""As women's sports surge in popularity, professional leagues are increasingly touting the value of female athletes."", 'New professional leagues like SailGP are launching with the advantage of building from the ground up, with gender diversity as part of their DNA.Noncontact and noncollision sports are leading the way.', ""Formula 1's F1 Academy has created a pipeline for women into motorsports, with a goal of increasing female participation and representation on and off the racetrack."", ""At the same time, it's drawing a more diverse fanbase."", 'Roughly 41% of F1 fans now are female, with women aged 16 to 24 years old making up the fastest-growing fan group, according to Nielsen Sports.', ""Professional male and female athletes are already competing alongside and against each other in the United Pickleball Association's unified league, the Global Mixed Gender Basketball league and in SailGP, the international sailing league co-founded by Oracle founder Larry Ellison and champion yachtsman Russell Coutts."", 'Founded in 2018, the upstart sailing league involves 12 international teams racing on high-speed, 50-foot Catamarans, known as F50s.', 'At speeds of more than 60 mph, SailGP is gaining a reputation as a sort of Formula 1 on the water.', '""The whole goal is to train athletes to be capable of racing on an F50, which is one of the more complex boats in the world – maybe the most difficult boat to race in the world right now,"" said Coutts, who is also SailGP\'s chief executive officer.', ""The league didn't set out with gender equity goals in mind, Coutts said, but simply sought to create the most compelling competition."", '""We believe that male and female athletes can compete at the top of our sport against each other and with each other, so when we we saw that there was a difference in participation levels – and didn\'t really see any logical reason for that – we took some steps to address that and we\'ll take further steps in the future,"" said Coutts.', 'To bridge the experience gap most female sailors face, SailGP created programs to draw and train talent.', ""In December, its Women's Performance Camp in Dubai, United Arab Emirates, marked its largest on-the-water women's athlete training camp to date."", 'The league also requires each team to have at least one female athlete onboard during races and has set targets to have at least two female athletes per race crew in key positions within the next five years.', 'Those key positions are the driver, who steers the boat; the strategist, who advises on tactics; the wing trimmer, who adjusts the 85- to 90-foot carbon-fiber wing sail; and the flight controller, who dictates how high or low the boat flies over the water.', 'The next SailGP races take place Saturday and Sunday in San Francisco, the second in back-to-back U.S. weekend races.', 'SailGP has embedded inclusivity and sustainability into the competition via an Impact League that runs parallel to the on-the-water championship.', 'Teams earn points for taking action to make sailing more accessible and to protect the environment in order to reach the podium.', 'Winning teams earn cash prize donations to their partners.', 'The Canadian team is in the lead in the Impact League thanks to its work to offer training opportunities, sailing camps and demo days to introduce foiling to new Canadian athletes.', '""That changes the mindframe of very competitive people to care, and to compete, in a world of impact and sustainability as well,"" said SailGP Chief Marketing Officer Leah Davis. ""', ""When you challenge the world's most competitive people to be good at something else, they will turn their eyes to that pretty quickly, and in a pretty impactful way."", '""Off the water, 43% of SailGP\'s C-suite is female, up from just 14% in 2021.', ""For comparison, 29% of C-suite roles at Fortune 500 companies are held by women, according to McKinsey's Women in the Workplace 2024 report."", ""The league last year introduced Apex Group's accelerator program, aimed at increasing female representation at senior levels of the company."", 'It has also introduced initiatives to train more women on the operations, technology and boat-building side of the business.', 'For example, SailGP Technologies based in Southampton, U.K., offers an apprenticeship training scheme – eight participants join the program each year, four male and four female.', 'Today, 33% of directors at SailGP and 52% of heads of departments are female.', ""The overall business strategy is helping to grow the league's appeal to a new set of fans."", ""For the first time in its history, more than half of the ticket holders in attendance at last season's New Zealand Championships in March were female, a trend that has held steady this season."", '""This demographic has been underserved in sports,"" said SailGP Chief Purpose Officer Fiona Morgan. ""', ""A huge part of our headroom in fans is young fans – and actually they're female fans – who probably didn't think about sailing, but they like extreme sports or sustainability, or they like sports that have gender equity at the heart."", '""In June, Tommy Hilfiger was announced as the United States SailGP team\'s official lifestyle apparel partner, joining brands such as Red Bull, Emirates, Mubadala, Rockwool and Deutsche Bank in sponsoring individual teams.', 'In November, SailGP announced it had signed Rolex as its first title sponsor.', '""I don\'t think many brands nowadays will go into sponsorship that doesn\'t have diversity or equity at some point in it,"" said Morgan. ""', 'Their consumers and their investors will ensure they do that.', '""In September, the league achieved a major milestone, announcing its first female driver.', 'Two-time Olympic sailing champion Martine Grael joined for the 2024-25 season to skipper the new Mubadala Brazil SailGP Team, making history and immediately climbing the leaderboard.', 'After championships in Dubai, Auckland, New Zealand, Sydney and Los Angeles, teams from the U.K., Australia and New Zealand are leading the league.', 'Grael has steered her team ahead of the Germany SailGP team, and is proving competitive against the more experienced United States team.', '""In the past — and still nowadays — you see a lot of people say, \'Girls shouldn\'t do that,\'"" Grael said.', 'Her response is to call out that old way of thinking: ""Shouldn\'t do what?""Grael credits much of her early success to familiarizing herself with the boats using SailGP\'s simulator, developing muscle memory before even getting on the water.', ""Unlike traditional boats built with male sailors in mind, SailGP's modern foiling boats open opportunities for women in roles that do not require as much physical strength, she said."", 'Knowing when to push a button and developing a good feel for the boat are equally important to the more physical functions, said Grael.', '""Some guys have failed to understand that a girl is very much capable of doing the same role they\'re doing,"" she said.', ""Grael is among a number of top female athletes competing in key positions in SailGP – including Emirates Great Britain Team's strategist Hannah Mills and the U.S. team's Anna Weis – and says though women are still in the minority, things are changing."", ""Together with women competing in marquee races – like Switzerland's Justine Mettraux, who took eighth place in the Vendée Globe single-handed, nonstop, nonassisted round-the-world race this year – they are carving a path for a new cohort of women to gain opportunities and make their mark."", '""We have been less limited — I grew up never being told I shouldn\'t do something,"" said Grael. ""', ""There's a big generation of others looking at us, and they're going to come out strong."", '""Correction: This story has been updated to correct that SailGP teams from the U.K., Australia and New Zealand are leading the league.', ""It's also been updated to correct the name of SailGP's Women's Performance Camp.""]",0.3284540759668937,"When you challenge the world's most competitive people to be good at something else, they will turn their eyes to that pretty quickly, and in a pretty impactful way.","Those key positions are the driver, who steers the boat; the strategist, who advises on tactics; the wing trimmer, who adjusts the 85- to 90-foot carbon-fiber wing sail; and the flight controller, who dictates how high or low the boat flies over the water.",0.8142258775861639,"""Off the water, 43% of SailGP's C-suite is female, up from just 14% in 2021.","""This demographic has been underserved in sports,"" said SailGP Chief Purpose Officer Fiona Morgan. """,2025-03-22
+Frontier Airlines offers free checked bags promotion in swipe at Southwest,https://www.cnbc.com/2025/03/18/frontier-airlines-free-checked-bags-promo-southwest.html,2025-03-18T17:13:26+0000,"In this articleFrontier Airlines took a swipe at Southwest Airlines' plan to start charging for seat assignments and checked luggage by doing the opposite.Budget carrier Frontier said customers can receive a bundle that includes a seat assignment and a carry-on bag without an upcharge if they book Tuesday through March 24 for travel through Aug. 18. The promotion applies for nonstop trips booked on Frontier's website or app.For flights departing May 28 through Aug. 18, Frontier said it would include a free checked bag, if booked with promo code FREEBAG.The change comes a week after Southwest shocked customers by announcing, starting May 28, it will get rid of its long-standing policy of allowing customers to check two bags for free. Southwest was an outlier with that policy among airlines, and executives there had repeatedly said they didn't plan to change it.""We've always had heart,"" CEO Barry Biffle said in a news release, an apparent swipe at its rival. Southwest, whose home airport is Dallas Love Field, has a love-and-hearts motif as part of its branding and its stock ticker is LUV. ""Some airlines are walking away from what travelers love, but we're running towards it. Think of this as the ultimate 'divorce old airline' deal. If travelers show us the love, we'll make these perks permanent.""Frontier and fellow discount airline Spirit Airlines have been offering fare bundles and easing some of their stricter policies, like on change fees, to attract more customers. Meanwhile, larger carriers like Delta, American, United and most recently, Southwest, have been adopting a la carte fees and no-frills ticket options that the budget carriers have long offered.Southwest brushed off Frontier's latest promotion and highlighted its larger network.""You don't need a promo code to avoid change fees, cancellation fees, view in-flight entertainment or bring along two carry-on items on Southwest,"" Southwest said in a statement. ""We look forward to serving the new Customers attracted to fare above all else, as well as rewarding our most-loyal Customers in our unmatched network connecting more than 850 nonstop city pairs at 117 airports across the United States and 10 international countries.""As part of the changes unveiled last week, Southwest also said it would launch basic economy tickets that don't allow for changes.Last week, executives at United, Delta and Spirit said Southwest's policy changes could be good for their carriers. Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.",CNBC,18/03/2025,"[""In this articleFrontier Airlines took a swipe at Southwest Airlines' plan to start charging for seat assignments and checked luggage by doing the opposite."", ""Budget carrier Frontier said customerscan receive a bundle that includes a seat assignment and a carry-on bag without an upcharge if they book Tuesday through March 24 for travel through Aug. 18.The promotion applies for nonstop trips booked on Frontier's website or app."", 'For flights departing May 28 through Aug. 18, Frontier said it would include a free checked bag, if booked with promo code FREEBAG.The change comes a week after Southwest shocked customers by announcing, starting May 28, it will get rid of its long-standing policy of allowing customers to check two bags for free.', ""Southwest was an outlier with that policy among airlines, and executives there had repeatedly said they didn't plan to change it."", '""We\'ve always had heart,"" CEO Barry Biffle said in a news release, an apparent swipe at its rival.', 'Southwest, whose home airport is Dallas Love Field, has a love-and-hearts motif as part of its branding and its stock ticker is LUV. ""', ""Some airlines are walking away from what travelers love, but we're running towards it."", ""Think of this as the ultimate 'divorce old airline' deal."", ""If travelers show us the love, we'll make these perks permanent."", '""Frontier and fellow discount airline Spirit Airlines have been offering fare bundles and easing some of their stricter policies, like on change fees, to attract more customers.', 'Meanwhile, larger carriers like Delta, American, United and most recently, Southwest, have been adopting a la carte fees and no-frills ticket options that the budget carriers have long offered.', ""Southwest brushed off Frontier's latest promotion and highlighted its larger network."", '""You don\'t need a promo code to avoid change fees, cancellation fees, view in-flight entertainment or bring along two carry-on items on Southwest,"" Southwest said in a statement. ""', 'We look forward to serving the new Customers attracted to fare above all else, as well as rewarding our most-loyal Customers in our unmatched network connecting more than 850 nonstop city pairs at 117 airports across the United States and 10 international countries.', '""As part of the changes unveiled last week, Southwest also said it would launch basic economy tickets that don\'t allow for changes.', ""Last week, executives at United, Delta and Spirit said Southwest's policy changes could be good for their carriers."", 'Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.']",0.3200498443656357,"We look forward to serving the new Customers attracted to fare above all else, as well as rewarding our most-loyal Customers in our unmatched network connecting more than 850 nonstop city pairs at 117 airports across the United States and 10 international countries.",Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.,0.4998854845762253,"Last week, executives at United, Delta and Spirit said Southwest's policy changes could be good for their carriers.",Airlines are also grappling with a recent drop in domestic travel demand that has weighed on first-quarter estimates.,2025-03-22
+White House pulls Trump’s nomination for CDC director hours before confirmation hearing,https://www.cnbc.com/2025/03/13/white-house-pulls-trump-cdc-director-nominee-dave-weldon.html,2025-03-13T17:46:50+0000,"The White House has pulled President Donald Trump's nominee to lead the Centers for Disease Control and Prevention, former Rep. Dave Weldon, the Senate's health committee confirmed Thursday.The move came just hours before the Republican former Florida lawmaker, a vaccine critic, was set to appear before the U.S. Senate Committee on Health, Education, Labor and Pensions for a confirmation hearing. The panel said the hearing, which had been scheduled for 10 a.m. ET, is canceled.Axios first reported the decision on Thursday. Robert F. Kennedy Jr., who leads the Department of Health and Human Services, said Weldon wasn't ready for the role, Axios reported. HHS oversees the CDC and all other federal health agencies.Weldon said he had been excited to work with Kennedy and serve the country again, The New York Times reported Thursday.""It is a shock, but, you know, in some ways, it's relief,"" Weldon told the paper. ""Government jobs demand a lot of you, and if God doesn't want me in it, I'm fine with that.""He said he plans to ""get on an airplane at 11 o'clock and I'm going to go home and I'm going to see patients on Monday,"" according to the newspaper.""I'll make much more money staying in my medical practice,"" Weldon added.But Weldon's views align closely with Kennedy, a notorious vaccine skeptic. Weldon, 71, has long questioned the safety of certain vaccines, promoting the false claim linking vaccines to autism. In 2006, Weldon appeared with parents who claimed that the CDC had covered up evidence tying vaccines to children developing autism.The CDC will reportedly reexamine that link under Kennedy despite decades of research debunking it.While in Congress, Weldon sponsored a bill that would transfer responsibility for vaccine safety away from the CDC. He claimed the agency had a conflict of interest because it purchases and promotes vaccines. The bill never made it past committees. Weldon is an internal medicine doctor who served in Congress for 14 years, from 1995 to 2009. Sen. Patty Murray, a Democrat from Washington and HELP committee member, has said she was ""deeply disturbed"" by Weldon's false claims about vaccines.In a statement on Thursday, Murray said, ""While I have little to no confidence in the Trump administration to do so, they should immediately nominate someone for this position who at bare minimum believes in basic science and will help lead CDC's important work to monitor and prevent deadly outbreaks.""She added that Kennedy is already doing ""incalculable damage by spreading lies and disinformation as the top health official in America.""HHS did not immediately respond to a request to comment on why the administration pulled Weldon's nomination and when Trump may choose another person for the post.",CNBC,13/03/2025,"[""The White House has pulled President Donald Trump's nominee to lead the Centers for Disease Control and Prevention, former Rep. Dave Weldon, the Senate's health committee confirmed Thursday."", 'The move came just hours before the Republican former Florida lawmaker, a vaccine critic, was set to appearbefore the U.S. Senate Committee on Health, Education, Labor and Pensions for a confirmation hearing.', 'The panel said the hearing, which had been scheduled for 10 a.m. ET, is canceled.', 'Axios first reported the decision on Thursday.', ""Robert F. Kennedy Jr., who leads the Department of Health and Human Services, said Weldon wasn't ready for the role, Axios reported."", 'HHS oversees the CDC and all other federal health agencies.', 'Weldon said he had been excited to work with Kennedy and serve the country again, The New York Times reported Thursday.', '""It is a shock, but, you know, in some ways, it\'s relief,"" Weldon told the paper. ""', ""Government jobs demand a lot of you, and if God doesn't want me in it, I'm fine with that."", '""He said he plans to ""get on an airplane at 11 o\'clock and I\'m going to go home and I\'m going to see patients on Monday,"" according to the newspaper.', '""I\'ll make much more money staying in my medical practice,"" Weldon added.', ""But Weldon's views align closely with Kennedy, a notorious vaccine skeptic."", 'Weldon, 71, has long questioned the safety of certain vaccines, promoting the false claim linking vaccines to autism.', 'In 2006, Weldon appearedwith parents who claimed that the CDC had covered up evidence tying vaccines to children developing autism.', 'The CDC will reportedly reexamine that link under Kennedy despite decades of research debunking it.', 'While in Congress, Weldon sponsored a bill that would transfer responsibility for vaccine safety away from the CDC.', 'He claimed the agency had a conflict of interest because it purchases and promotes vaccines.', 'The bill never made it past committees.', 'Weldon is an internal medicine doctor who served in Congress for 14 years, from 1995 to 2009.Sen.', 'Patty Murray, a Democrat from Washington and HELP committee member, has said she was ""deeply disturbed"" by Weldon\'s false claims about vaccines.', 'In a statement on Thursday, Murray said, ""While I have little to no confidence in the Trump administration to do so, they should immediately nominate someone for this position who at bare minimum believes in basic science and will help lead CDC\'s important work to monitor and prevent deadly outbreaks.', '""She added that Kennedy is already doing ""incalculable damage by spreading lies and disinformation as the top health official in America.', '""HHS did not immediately respond to a request to comment on why the administration pulled Weldon\'s nomination and when Trump may choose another person for the post.']",0.1053608637340835,"Weldon, 71, has long questioned the safety of certain vaccines, promoting the false claim linking vaccines to autism.","But Weldon's views align closely with Kennedy, a notorious vaccine skeptic.",0.0045524338881174,"""I'll make much more money staying in my medical practice,"" Weldon added.","""She added that Kennedy is already doing ""incalculable damage by spreading lies and disinformation as the top health official in America.",2025-03-22
+"Nvidia, GM announce deal for AI, factories and next-gen vehicles",https://www.cnbc.com/2025/03/18/nvidia-gm-deals-ai-factories-vehicles.html,2025-03-19T13:00:17+0000,"In this articleGeneral Motors and Nvidia have agreed to a strategic collaboration that includes the automaker using several products and artificial intelligence services from the tech giant for its next-generation vehicles, advanced driver-assistance systems and factories.The companies on Tuesday announced that the new initiatives include building custom artificial intelligence systems using Nvidia compute platforms, including ""Omniverse with Cosmos,"" for optimizing GM's factory planning and robotics.The Detroit automaker also said it will use ""Nvidia Drive AGX"" for ""in-vehicle hardware for future advanced driver-assistance systems and in-cabin enhanced safety driving experiences.""GM declined to disclose a cost for the new tools with Nvidia. The tech company has been attempting to diversify its automotive business, which has notably included substantial work in data centers and GPUs.""The era of physical AI is here, and together with GM, we're transforming transportation, from vehicles to the factories where they're made,"" Jensen Huang, Nvidia founder and CEO, said in a release. ""We are thrilled to partner with GM to build AI systems tailored to their vision, craft and know-how.""GM has been using Nvidia graphics processing units, or GPUs, for training AI models across various areas of its business, including simulation and validation. The new business expands to in-vehicle hardware, automotive plant design and operations, the companies said.The automaker also had been testing Nvidia's Omniverse since at least 2022. Some of GM's testing was in designing a ""digital twin,"" or replica, of its new design center and processes to assist virtual vehicle development. It also acted as a single digital environment for employees to work and collaborate in, according to a video last year featuring GM for Nvidia's GTC developer conference in 2023.Nvidia anticipated it would strike a deal with GM mid-last year for Omniverse, according to an internal company email viewed by CNBC. At that time, two sources with GM signaled the automaker wasn't sure Nvidia's software and GPUs were worth the high cost compared with other companies.It wasn't immediately clear what sealed the deal for GM. But since that time, both companies have experienced increased competition from China and uncertain regulatory changes such as tariffs. GM's stock is off roughly 8% during in 2025, while Nvidia is off about 12% this year.""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia's release. ""By merging technology with human ingenuity, we unlock new levels of innovation in vehicle manufacturing and beyond.""The companies announced the new initiatives in connection with Nvidia's GTC AI conference this week in California.Nvidia describes Omniverse as a platform for ""developing and deploying physically based industrial digitalization applications."" It's essentially connecting a physical environment with a digital, or software, world to optimize processes using a ""digital twin"" of a physical environment such as a GM design facility or plant.Users of Nvidia's Omniverse have included BMW, Amazon Robotics and Samsung, Rev Lebaredian, Nvidia vice president of Omniverse and simulation technology, said during a media briefing a year ago. He said the company was licensing Omniverse for $4,500 per GPU, per year.It's unclear how many GPUs GM will need. But given the amount of robotics, sensors and other systems needed to operate a modern assembly plant, it would likely be quite a bit.More than 20 other automakers have used Nvidia's ""system on a chip"" hardware in the central computing units of their smart vehicles, including Mercedes Benz, Volvo, Audi, Volkswagen and BYD, according to an industry equity research note from Jeffries in November 2023.In recent years, Nvidia has seen soaring demand for its GPUs, which are used for everything from bitcoin mining to AI inference and training.",CNBC,19/03/2025,"['In this articleGeneral Motors and Nvidia have agreed to a strategic collaboration that includes the automaker using several products and artificial intelligence services from the tech giant for its next-generation vehicles, advanced driver-assistance systems and factories.', 'The companies on Tuesday announced that the new initiatives include building custom artificial intelligence systems using Nvidia compute platforms, including ""Omniverse with Cosmos,"" for optimizing GM\'s factory planning and robotics.', 'The Detroit automaker also said it will use ""Nvidia Drive AGX"" for ""in-vehicle hardware for future advanced driver-assistance systems and in-cabin enhanced safety driving experiences.', '""GM declined to disclose a cost for the new tools with Nvidia.', 'The tech company has been attempting to diversify its automotive business, which has notably included substantial work in data centers and GPUs.', '""The era of physical AI is here, and together with GM, we\'re transforming transportation, from vehicles to the factories where they\'re made,"" Jensen Huang, Nvidia founder and CEO, said in a release. ""', 'We are thrilled to partner with GM to build AI systems tailored to their vision, craft and know-how.', '""GM has been using Nvidia graphics processing units, or GPUs, for training AI models across various areas of its business, including simulation and validation.', 'The new business expands to in-vehicle hardware, automotive plant design and operations, the companies said.', ""The automaker also had been testing Nvidia's Omniverse since at least 2022."", 'Some of GM\'s testing was in designing a ""digital twin,"" or replica, of its new design center and processes to assist virtual vehicle development.', ""It also acted as a single digital environment for employees to work and collaborate in, according to a video last year featuring GM for Nvidia's GTC developer conference in 2023.Nvidia anticipated it would strike a deal with GM mid-last year for Omniverse, according to an internal company email viewed by CNBC."", ""At that time, two sources with GM signaled the automaker wasn't sure Nvidia's software and GPUs were worth the high cost compared with other companies."", ""It wasn't immediately clear what sealed the deal for GM."", 'But since that time, both companies have experienced increased competition from China and uncertain regulatory changes such as tariffs.', ""GM's stock is off roughly 8% during in 2025, while Nvidia is off about 12% this year."", '""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia\'s release. ""', 'By merging technology with human ingenuity, we unlock new levels of innovation in vehicle manufacturing and beyond.', '""The companies announced the new initiatives in connection with Nvidia\'s GTC AI conference this week in California.', 'Nvidia describes Omniverse as a platform for ""developing and deploying physically based industrial digitalization applications.""', 'It\'s essentially connecting a physical environment with a digital, or software, world to optimize processes using a ""digital twin"" of a physical environment such as a GM design facility or plant.', ""Users of Nvidia's Omniverse have included BMW, Amazon Robotics and Samsung, Rev Lebaredian, Nvidia vice president of Omniverse and simulation technology, said during a media briefing a year ago."", 'He said the company was licensing Omniverse for $4,500 per GPU, per year.', ""It's unclear how many GPUs GM will need."", 'But given the amount of robotics, sensors and other systems needed to operate a modern assembly plant, it would likely be quite a bit.', 'More than20other automakers have used Nvidia\'s ""system on a chip"" hardware in the central computing units of their smart vehicles, including Mercedes Benz, Volvo, Audi, Volkswagen and BYD, according to an industry equity research note from Jeffries in November 2023.In recent years, Nvidia has seen soaring demand for its GPUs, which are used for everything from bitcoin mining to AI inference and training.']",0.2128805987264246,"""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia's release. """,It's unclear how many GPUs GM will need.,0.3955838620662689,"""AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship,"" GM CEO Mary Barra said in Nvidia's release. ""","GM's stock is off roughly 8% during in 2025, while Nvidia is off about 12% this year.",2025-03-22
+Zepbound copycats remain online despite FDA ban,https://www.cnbc.com/2025/03/21/zepbound-copycats-tirzepatide-compounding-online-fda-ban.html,2025-03-22T14:26:26+0000,"This week was supposed to mark the end of compounding pharmacies making copycat versions of Eli Lilly's weight-loss drug Zepbound and its diabetes drug Mounjaro. Online, it doesn't look like much has changed. Popular websites like Amble, EllieMD, Willow and Mochi Health are all still advertising versions of tirzepatide, the active ingredient in Zepbound. Some, like Ivim, have stopped taking new patients.Mochi Health has no plans to stop, and neither do the four pharmacies it uses to supply patients with the medications, said Mochi CEO Myra Ahmad. The company uses a network of about 500 providers to write prescriptions for weight-loss drugs, including compounded versions. It's betting that offering personalized versions of the drugs will keep the company out of the crosshairs. ""It can be different dosing schedules … some patients prefer to go up in dosage much more slowly,"" Ahmad said. ""Some patients like to mix a number of other medications into their compounded formulations, depending on the side effects that they're having. Some patients have side effects with any additives and brand name formulations. Compounding really opens up the door for so much personalization."" Amble, EllieMD and Willow didn't respond to CNBC's request for comment. Compounding is where pharmacies mix ingredients of a drug to create a specialized version for specific patients. Say someone is allergic to a dye in a branded medication or needs a liquid form and the main manufacturer only sells capsules. In that case, the patient can turn to a compounded version.When drugs are in shortage, they can be compounded in larger quantities to help fill the gap. Copycat versions of Lilly's Mounjaro and Zepbound and Novo Nordisk's Wegovy and Ozempic have been widely available in recent years because the U.S. Food and Drug Administration listed the brand versions as being in short supply. That created a booming business for pharmacies compounding the highly popular class of weight loss and diabetes medications called GLP-1s.But late last year, the FDA said all doses of Mounjaro and Zepbound were readily available and took the drug off its shortage list, spelling the end for mass compounding of the drug. After months of legal challenges, the FDA gave smaller pharmacies until early March to stop and larger pharmacies until this week before it started enforcing its rules.The larger facilities aren't allowed to compound tirzepatide at all anymore. Smaller ones aren't supposed to make products that are essentially copies of a commercially available drug, a moniker with some wiggle room. The FDA sees essential copies as those that have a dosage within 10% of the commercially available drug or combine two or more commercially available drugs.Mochi insists all of its prescriptions are personalized, including doses that differ from the standard Zepbound strengths. Other websites like EllieMD are advertising tirzepatide mixed with vitamin B12. Scott Brunner, CEO of the Alliance for Pharmacy Compounding, said formulations or dosage strengths that aren't commercially available aren't considered a copy. However, combining two drugs into one — like adding vitamin B6 or B12 — would be considered a copy under a strict reading of FDA guidance. But tweaking the dosage and adding in other commercially available drugs wouldn't be considered an essential copy, he added.""FDA guidance are pretty clear about what is and is not a copy,"" Brunner said. ""And I would say any compounding pharmacy or outsourcing facility that continues to prepare copies of tirzepatide injection after today are putting themselves in a certain amount of legal risks."" John Herr, pharmacist and owner of Town & Country Compounding Pharmacy, stopped compounding tirzepatide earlier this month. He didn't want to take the risk even though his 300 to 400 patients on it have been calling nonstop to complain about losing access.Town & Country, based in Ramsey, New Jersey, was charging patients about $200 a month — about one-fifth the list price for Zepbound and less than half the price Lilly charges self-paying patients. What happens next is an open question. Enforcing the ban on mass compounding of tirzepatide mostly falls to the FDA. The agency didn't immediately respond to CNBC's request for comment.Lilly can try to sue companies that continue, but it hasn't had much luck in the past. A Florida judge last year dismissed one of Lilly's cases, saying the company was trying to enforce a law that only the FDA can. Ahmad, the CEO of Mochi, said she isn't worried about Lilly taking legal action against her providers. The way she sees it, they have established patient-physician relationships with the autonomy to decide how best to manage their patients.The next two months will be informative. Mass compounding of semaglutide — the active ingredient in Novo Nordisk's Ozempic and Wegovy — needs to stop by the end of May, according to the FDA.Hims & Hers Health has already said it will stop selling commercially available doses of semaglutide when the time comes. Customers who have a personalized dosing regimen will be able to continue without any change, the company added. — CNBC's Leanne Miller contributed to this reportClarification: This story has been updated to clarify Scott Brunner's comments.",CNBC,22/03/2025,"[""This week was supposed to mark the end of compounding pharmacies making copycat versions of Eli Lilly's weight-loss drug Zepbound and its diabetes drug Mounjaro."", ""Online, it doesn't look like much has changed."", 'Popular websites like Amble, EllieMD, Willow and Mochi Health are all still advertising versions of tirzepatide, the active ingredient in Zepbound.', 'Some, like Ivim, have stopped taking new patients.', 'Mochi Health has no plans to stop, and neither do the four pharmacies it uses to supply patients with the medications, said Mochi CEO Myra Ahmad.', 'The company uses a network of about 500 providers to write prescriptions for weight-loss drugs, including compounded versions.', ""It's betting that offering personalized versions of the drugs will keep the company out of the crosshairs."", '""It can be different dosing schedules … some patients prefer to go up in dosage much more slowly,"" Ahmad said. ""', ""Some patients like to mix a number of other medications into their compounded formulations, depending on the side effects that they're having."", 'Some patients have side effects with any additives and brand name formulations.', 'Compounding really opens up the door for so much personalization.', '""Amble, EllieMD and Willow didn\'t respond to CNBC\'s request for comment.', 'Compounding is where pharmacies mix ingredients of a drug to create a specialized version for specific patients.', 'Say someone is allergic to a dye in a branded medication or needs a liquid form and the main manufacturer only sells capsules.', 'In that case, the patient can turn to a compounded version.', 'When drugs are in shortage, they can be compounded in larger quantities to help fill the gap.', ""Copycat versions of Lilly's Mounjaro and Zepbound and Novo Nordisk's Wegovy and Ozempic have been widely available in recent years because the U.S. Food and Drug Administration listed the brand versions as being in short supply."", 'That created a booming business for pharmacies compounding the highly popular class of weight loss and diabetes medications called GLP-1s.', 'But late last year, the FDA said all doses of Mounjaro and Zepbound were readily available and took the drug off its shortage list, spelling the end for mass compounding of the drug.', 'After months of legal challenges, the FDA gave smaller pharmacies until early March to stop and larger pharmacies until this week before it started enforcing its rules.', ""The larger facilities aren't allowed to compound tirzepatide at all anymore."", ""Smaller ones aren't supposed to make products that are essentially copies of a commercially available drug, a moniker with some wiggle room."", 'The FDA sees essential copies as those that have a dosage within 10% of the commercially available drug or combine two or more commercially available drugs.', 'Mochi insists all of its prescriptions are personalized, including doses that differ from the standard Zepbound strengths.', ""Other websites like EllieMD are advertising tirzepatide mixed with vitamin B12.Scott Brunner, CEO of the Alliance for Pharmacy Compounding, said formulations or dosage strengths that aren't commercially available aren't considered a copy."", 'However, combining two drugs into one — like adding vitamin B6 or B12 — would be considered a copy under a strict reading of FDA guidance.', ""But tweaking the dosage and adding in other commercially available drugs wouldn'tbe considered an essential copy, he added."", '""FDA guidance are pretty clear about what is and is not a copy,"" Brunner said. ""', 'And I would say any compounding pharmacy or outsourcing facility that continues to prepare copies of tirzepatide injection after today are putting themselves in a certain amount of legal risks.', '""John Herr, pharmacist and owner of Town & Country Compounding Pharmacy, stopped compounding tirzepatide earlier this month.', ""He didn't want to take the risk even though his 300 to 400 patients on it have been calling nonstop to complain about losing access."", 'Town & Country, based in Ramsey, New Jersey, was charging patients about $200 a month — about one-fifth the list price for Zepbound and less than half the price Lilly charges self-paying patients.', 'What happens next is an open question.', 'Enforcing the ban on mass compounding of tirzepatide mostly falls to the FDA.', ""The agency didn't immediately respond to CNBC's request for comment."", ""Lilly can try to sue companies that continue, but it hasn't had much luck in the past."", ""A Florida judge last year dismissed one of Lilly's cases, saying the company was trying to enforce a law that only the FDA can."", ""Ahmad, the CEO of Mochi, said she isn't worried about Lilly taking legal action against her providers."", 'The way she sees it, they have established patient-physician relationships with the autonomy to decide how best to manage their patients.', 'The next two months will be informative.', ""Mass compounding of semaglutide — the active ingredient in Novo Nordisk's Ozempic and Wegovy — needs to stop by the end of May, according to the FDA.Hims & Hers Health has already said it will stop selling commercially available doses of semaglutide when the time comes."", 'Customers who have a personalized dosing regimen will be able to continue without any change, the company added.—', ""CNBC's Leanne Miller contributed to this reportClarification: This story has been updated to clarify Scott Brunner's comments.""]",0.0547534251122153,"Popular websites like Amble, EllieMD, Willow and Mochi Health are all still advertising versions of tirzepatide, the active ingredient in Zepbound.",He didn't want to take the risk even though his 300 to 400 patients on it have been calling nonstop to complain about losing access.,0.9512409269809724,That created a booming business for pharmacies compounding the highly popular class of weight loss and diabetes medications called GLP-1s.,,2025-03-22
+Boston Celtics sold for $6.1 billion to group led by private equity executive Bill Chisholm,https://www.cnbc.com/2025/03/20/boston-celtics-sold-for-6point1-billion-to-bill-chisholm-sixth-street-group.html,2025-03-20T18:47:50+0000,"A group led by private equity executive Bill Chisholm is buying the National Basketball Association's reigning champion Boston Celtics at a valuation of $6.1 billion, the team's ownership announced Thursday.Private equity firm Sixth Street is part of the new ownership group and will contribute more than $1 billion, one person familiar with the matter said. Other members of the ownership group include Boston-area businessman Rob Hale, a current team owner, and Bruce Beal Jr., president of real estate firm Related Companies.""Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,"" Chisholm said in a Thursday news release. ""I understand how important the Celtics are to the city of Boston — the role the team plays in the community is different than any other city in the country. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.""The Celtics' current ownership group, Boston Basketball Partners, is led by the Grousbeck family. Wyc Grousbeck, the team's CEO and governor, will remain in those roles through the 2027-28 season. If approved, the sale will go through this summer.""Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,"" Grousbeck said in a statement. ""His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team.""The NBA declined to comment.It is unclear how much Chisholm, co-founder of the firm Symphony Technology Group, will personally pay as part of the deal.The $6.1 billion sale price is the highest for a team in U.S. sports history, surpassing the $6.05 billion deal for the National Football League's Washington Commanders in 2023. The Celtics' total valuation could reach $7.3 billion by 2028 depending on the league's overall performance, a person familiar with the matter told CNBC.CNBC Sport's Official NBA Team Valuations list released in February had estimated the Celtics franchise to be worth $5.5 billion. The top-valued team was the Golden State Warriors at $9.4 billion.The sale of the Celtics to a large ownership group comes as sports franchise valuations skyrocket, making it more difficult for individuals or families to buy a team themselves. The NFL last year followed the NBA and other major leagues in allowing private equity firms to take stakes in teams.Soaring media rights payments have contributed to rapid growth in team valuations. The 11-year, $76 billion agreement the NBA signed with Walt Disney, NBCUniversal and Amazon starting next season more than doubled the annual value of the league's previous media deal.The Celtics have won 18 championships, the most in the history of the NBA. The team has the second-best record in the NBA's Eastern Conference this season and is considered a strong contender to win its second consecutive title.— CNBC's Michael Ozanian, Leslie Picker and Scott Wapner contributed to this story.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,20/03/2025,"[""A group led by private equity executive Bill Chisholm is buying the National Basketball Association's reigning champion Boston Celtics at a valuation of $6.1 billion, the team's ownership announced Thursday."", 'Private equity firm Sixth Street is part of the new ownership group and will contribute more than $1 billion, one person familiar with the matter said.', 'Other members of the ownership group include Boston-area businessman Rob Hale, a current team owner, and Bruce Beal Jr., president of real estate firm Related Companies.', '""Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,"" Chisholm said in a Thursday news release. ""', 'I understand how important the Celtics are to the city of Boston — the role the team plays in the community is different than any other city in the country.', 'I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.', '""The Celtics\' current ownership group, Boston Basketball Partners, is led by the Grousbeck family.', ""Wyc Grousbeck, the team's CEO and governor, will remain in those roles through the 2027-28 season."", 'If approved, the sale will go through this summer.', '""Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,"" Grousbeck said in a statement. ""', 'His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team.', '""The NBA declined to comment.', 'It is unclear how much Chisholm, co-founder of the firm Symphony Technology Group, will personally pay as part of the deal.', ""The $6.1 billion sale price is the highest for a team in U.S. sports history, surpassing the $6.05 billion deal for the National Football League's Washington Commanders in 2023."", ""The Celtics' total valuation could reach $7.3 billion by 2028 depending on the league's overall performance, a person familiar with the matter told CNBC.CNBC Sport's Official NBA Team Valuations list released in February had estimated the Celtics franchise to be worth $5.5 billion."", 'The top-valued team was the Golden State Warriors at $9.4 billion.', 'The sale of the Celtics to a large ownership group comes as sports franchise valuations skyrocket, making it more difficult for individuals or families to buy a team themselves.', 'The NFL last year followed the NBA and other major leagues in allowing private equity firms to take stakes in teams.', 'Soaring media rights payments have contributed to rapid growth in team valuations.', ""The 11-year, $76 billion agreement the NBA signed with Walt Disney, NBCUniversal and Amazon starting next season more than doubled the annual value of the league's previous media deal."", 'The Celtics have won 18 championships, the most in the history of the NBA.', ""The team has the second-best record in the NBA's Eastern Conference this season and is considered a strong contender to win its second consecutive title.—CNBC's Michael Ozanian, Leslie Picker and Scott Wapner contributed to this story."", 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.2266127421567241,"The team has the second-best record in the NBA's Eastern Conference this season and is considered a strong contender to win its second consecutive title.—CNBC's Michael Ozanian, Leslie Picker and Scott Wapner contributed to this story.","Other members of the ownership group include Boston-area businessman Rob Hale, a current team owner, and Bruce Beal Jr., president of real estate firm Related Companies.",0.986009521143777,Soaring media rights payments have contributed to rapid growth in team valuations.,,2025-03-22
+"February home resales jump much more than expected, despite higher mortgage rates",https://www.cnbc.com/2025/03/20/february-home-resales-jump-more-than-expected-despite-mortgage-rates.html,2025-03-20T19:39:10+0000,"Sales of previously owned homes in February rose 4.2% from January to 4.26 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Industry analysts had expected a drop of 3%.Sales were 1.2% lower compared with February of last year.This count is based on closings, so contracts signed in December and January, when mortgage rates were rising and briefly held in the 7% range on the 30-year fixed. Rates today are in the high 6% range.""Home buyers are slowly entering the market,"" said Lawrence Yun, NAR's chief economist, in a release. ""Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand.""Sales were only higher annually in the highest price categories, above $750,000. Sales around the median price were down 3% year over year.Inventory at the end of February stood at 1.24 million units, an increase of 17% year over year, but still just a 3.5-month supply at the current sales pace. A six-month supply is considered balanced between buyer and seller.""We are still in a relatively tight market condition,"" Yun said.That tight supply is keeping pressure on prices. The median price of a home sold in February was $398,400, up 3.8% from the same time last year. That is a record high for the month of February. All four geographical regions of the country saw price increases.First-time buyers edged back into the market, making up 31% of February sales compared with 26% the year before. Investors, however, pulled back, accounting for just 16% of sales, down from 21% last year.All-cash sales, however, remained relatively steady at 32% of sales, down just slightly from the year before. Cash is usually favored by investors, so this suggests, given the drop in investor sales, that more owner-occupants are using cash.While these sales were higher than expected, they are more indicative of the market two months ago than they are now. A separate survey of real estate agents in February from John Burns Research and Consulting found more than half of respondents indicated this spring's resale market is weaker than normal. This resale index dropped for the first time in four months.""Current sales ratings remain weak, with 53% of agents reporting weaker than normal sales. This is better than 56% one year ago but lower than January's 47%. Affordability constraints and economic uncertainty keep many buyers on the sidelines,"" according to the report from John Burns.",CNBC,20/03/2025,"['Sales of previously owned homes in February rose 4.2% from January to 4.26 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.', 'Industry analysts had expected a drop of 3%.Sales were 1.2% lower compared with February of last year.', 'This count is based on closings, so contracts signed in December and January, when mortgage rates were rising and briefly held in the 7% range on the 30-year fixed.', 'Rates today are in the high 6% range.', '""Home buyers are slowly entering the market,"" said Lawrence Yun, NAR\'s chief economist, in a release. ""', 'Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand.', '""Sales were only higher annually in the highest price categories, above $750,000.', 'Sales around the median price were down 3% year over year.', 'Inventory at the end of February stood at 1.24 million units, an increase of 17% year over year, but still just a 3.5-month supply at the current sales pace.', 'A six-month supply is considered balanced between buyer and seller.', '""We are still in a relatively tight market condition,"" Yun said.', 'That tight supply is keeping pressure on prices.', 'The median price of a home sold in February was $398,400, up 3.8% from the same time last year.', 'That is a record high for the month of February.', 'All four geographical regions of the country saw price increases.', 'First-time buyers edged back into the market, making up 31% of February sales compared with 26% the year before.', 'Investors, however, pulled back, accounting for just 16% of sales, down from 21% last year.', 'All-cash sales, however, remained relatively steady at 32% of sales, down just slightly from the year before.', 'Cash is usually favored by investors, so this suggests, given the drop in investor sales, that more owner-occupants are using cash.', 'While these sales were higher than expected, they are more indicative of the market two months ago than they are now.', ""A separate survey of real estate agents in February from John Burns Research and Consulting found more than half of respondents indicated this spring's resale market is weaker than normal."", 'This resale index dropped for the first time in four months.', '""Current sales ratings remain weak, with 53% of agents reporting weaker than normal sales.', ""This is better than 56% one year ago but lower than January's 47%."", 'Affordability constraints and economic uncertainty keep many buyers on the sidelines,"" according to the report from John Burns.']",-0.0939364194290539,"Cash is usually favored by investors, so this suggests, given the drop in investor sales, that more owner-occupants are using cash.","""Current sales ratings remain weak, with 53% of agents reporting weaker than normal sales.",-0.0761304951849437,"Sales of previously owned homes in February rose 4.2% from January to 4.26 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.",Industry analysts had expected a drop of 3%.Sales were 1.2% lower compared with February of last year.,2025-03-22
+PepsiCo buys prebiotic soda brand Poppi for nearly $2 billion,https://www.cnbc.com/2025/03/17/pepsico-buys-prebiotic-soda-brand-poppi-for-more-than-1point6-billion.html,2025-03-17T18:22:35+0000,"In this articlePepsiCo said Monday that it is buying prebiotic soda brand Poppi for nearly $2 billion.While soda consumption has broadly fallen over the past two decades in the U.S., prebiotic sodas, fueled by industry newcomers Poppi and Olipop, have won over health-conscious consumers over the past five years.The category's growth makes it attractive for Pepsi and its rival, Coca-Cola, which recently launched its own prebiotic soda brand, Simply Pop. Pepsi had reportedly aimed to launch its own functional soda under its Soulboost brand, but it canceled those plans, likely paving the way to a deal with Poppi.Pepsi said it plans to acquire the upstart Poppi for $1.95 billion. The deal includes $300 million of anticipated cash tax benefits, making the net purchase price $1.65 billion.Pepsi will also have to make additional payments if Poppi achieves certain performance milestones within a set time frame after the acquisition closes. The company did not say when the deal is expected to close, pending regulatory approval.Poppi's founders Allison and Stephen Ellsworth launched the brand back in 2018, the same year that Olipop was founded. Poppi's formula includes apple cider vinegar, prebiotics and just five grams of sugar.By 2023, Poppi's annual sales reportedly crossed $100 million.The company recently made its second straight Super Bowl appearance with an ad during the big game, demonstrating both its deep pockets and a desire to reach an even wider audience.But as Poppi's sales have grown, it has also attracted backlash for its health claims. For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed. Poppi and the plaintiff moved to settle the suit on Friday for $8.9 million, according to court filings.For its part, rival Olipop was valued at $1.85 billion during its latest funding round, which was announced in February. In 2023, Olipop founder and CEO Ben Goodwin told CNBC that soda giants PepsiCo and Coca-Cola had already come knocking about a potential sale.",CNBC,17/03/2025,"['In this articlePepsiCo said Monday that it is buying prebiotic soda brand Poppi for nearly $2 billion.', 'While soda consumption has broadly fallen over the past two decades in the U.S., prebiotic sodas, fueled by industry newcomers Poppi and Olipop, have won over health-conscious consumers over the past five years.', ""The category's growth makes it attractive for Pepsi and its rival, Coca-Cola, which recently launched its own prebiotic soda brand, Simply Pop."", 'Pepsi had reportedly aimed to launch its own functional soda under its Soulboost brand, but it canceled those plans, likely paving the way to a deal with Poppi.', 'Pepsi said it plans to acquire the upstart Poppi for $1.95 billion.', 'The deal includes $300 million of anticipated cash tax benefits, making the net purchase price $1.65 billion.', 'Pepsi will also have to make additional payments if Poppi achieves certain performance milestones within a set time frame after the acquisition closes.', 'The company did not say when the deal is expected to close, pending regulatory approval.', ""Poppi's foundersAllison and Stephen Ellsworth launched the brand back in 2018, the same year that Olipop was founded."", ""Poppi's formula includes apple cider vinegar, prebiotics and just five grams of sugar."", ""By 2023, Poppi's annual sales reportedly crossed $100 million."", 'The company recently made its second straight Super Bowl appearance with an ad during the big game, demonstrating both its deep pockets and a desire to reach an even wider audience.', ""But as Poppi's sales have grown, it has also attracted backlash for its health claims."", 'For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed.', 'Poppi and the plaintiff moved to settle the suit on Friday for $8.9 million, according to court filings.', 'For its part, rival Olipop was valued at $1.85 billion during its latest funding round, which was announced in February.', 'In 2023, Olipop founder and CEO Ben Goodwin told CNBC that soda giants PepsiCo and Coca-Cola had already come knocking about a potential sale.']",0.2130677468922047,"The company recently made its second straight Super Bowl appearance with an ad during the big game, demonstrating both its deep pockets and a desire to reach an even wider audience.","For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed.",0.6602089703083038,"The category's growth makes it attractive for Pepsi and its rival, Coca-Cola, which recently launched its own prebiotic soda brand, Simply Pop.","For example, the company faced a class action lawsuit that alleged that its drinks were not as healthy as its packaging claimed.",2025-03-22
+Boeing Starliner astronauts complete return to Earth in SpaceX capsule after extended stay on ISS,https://www.cnbc.com/2025/03/18/boeing-starliner-astronauts-butch-wilmore-suni-williams-returning-spacex-iss.html,2025-03-19T12:35:13+0000,"In this articleThe two U.S. astronauts who had been at the International Space Station for nine months after their faulty Boeing Starliner capsule returned without them are finally back on Earth.NASA astronauts Butch Wilmore and Suni Williams — as well as fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov — successfully splashed down in a SpaceX Dragon capsule off the coast of Tallahassee, Florida, at 5:57 p.m. ET.Splash downs, or water landings, are simpler for returning to Earth.Hague said he saw a ""capsule full of grins, ear to ear."" The astronauts will head to NASA's Johnson Space Center in Houston for several days of routine health checks before they go home.Wilmore and Williams left Earth in June on a test flight that was originally intended to last about nine days.But their stay was extended after thrusters on Boeing's Starliner capsule ""Calypso"" failed during docking, raising concerns about the ship's ability to carry them home. NASA ultimately sent the capsule back empty after it was docked for about three months at the space station, saying it wanted to ""further understand the root causes"" of the spacecraft's issues.NASA also announced that Wilmore and Williams, who are both veteran astronauts and retired Navy test pilots, would return on a SpaceX Dragon spacecraft instead. The agency adjusted its rotation of astronauts as a result, removing two people from SpaceX's Crew-9 mission — which returned to Earth Tuesday — to make room for Wilmore and Williams.That capsule carrying the two people on Crew-9 arrived at the ISS back in September. Crews rotate on the ISS, which means that each group of astronauts works until the next arrives at the space station, when a ceremonial ""handover"" occurs.NASA had originally planned for SpaceX's Crew-10 mission — which needed to arrive before the Crew-9 members could come back down — to launch in February, but it was delayed by about a month.The rocket carrying the four new crew members of Crew-10 launched on Friday evening, and its capsule docked at the space station about 29 hours later.The Starliner crew flight test was supposed to check a final box for Boeing and deliver a key asset for NASA. The agency was hoping to fulfill its dream of having two competing companies — Boeing and Elon Musk's SpaceX — flying alternating missions to the ISS.Instead, it's unclear what Boeing's future crewed space plans are. The company has lost more than $2 billion on its Starliner spacecraft.""Boeing all the way up to their new CEO Kelly [Ortberg] has been committed to Starliner,"" Steve Stich, manager of NASA's Commercial Crew Program, said in a press briefing Tuesday evening. ""I can see that in the way they're approaching the solution to their problems. … I see them being very committed.""NASA officials in the briefing reiterated that Starliner needs to undergo more testing and left the option open that its next flight could be uncrewed.Wilmore and Williams' journey became entangled in politics once President Donald Trump took office. Trump and Musk, who has become a close advisor to the president, urged a quicker Crew-10 launch and said without evidence that the two astronauts were ""stranded"" on the space station and that the Biden administration had kept them up there for political reasons. NASA had delayed the Crew-10 launch in December to allow more time to process a new Dragon capsule, but decided to use a reusable capsule to cut down on wait time.NASA's plans for returning the two astronauts have remained consistent since the agency announced them in August.During their extended stay, Wilmore and Williams became part of a normal rotation, conducting scientific experiments and routine maintenance as any other astronaut on rotation at the ISS would. Williams also conducted a spacewalk.Williams has said repeatedly that the pair doesn't feel ""abandoned"" at the ISS, but that she was looking forward to returning home to see her family and her two dogs.""It's been a roller coaster for them, probably a little bit more so than for us,"" she told reporters earlier this month.",CNBC,19/03/2025,"['In this articleThe two U.S. astronauts who had been at the International Space Station for nine months after their faulty Boeing Starliner capsule returned without them are finally back on Earth.', 'NASA astronauts Butch Wilmore and Suni Williams — as well as fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov — successfully splashed down in a SpaceX Dragon capsule off the coast of Tallahassee, Florida, at 5:57 p.m. ET.Splash downs, or water landings, are simpler for returning to Earth.', 'Hague said he saw a ""capsule full of grins, ear to ear.""', ""The astronauts will head to NASA's Johnson Space Center in Houston for several days of routine health checks before they go home."", 'Wilmore and Williams left Earth in June on a test flight that was originally intended to last about nine days.', 'But their stay was extended after thrusters on Boeing\'s Starliner capsule ""Calypso""failed during docking, raising concerns about the ship\'s ability to carry them home.', 'NASA ultimately sent the capsule back empty after it was docked for about three months at the space station, saying it wanted to ""further understand the root causes"" of the spacecraft\'s issues.', 'NASA also announced that Wilmore and Williams, who are both veteran astronauts and retired Navy test pilots, would return on a SpaceX Dragon spacecraft instead.', ""The agency adjusted its rotation of astronauts as a result, removing two people from SpaceX's Crew-9 mission — which returned to Earth Tuesday — to make room for Wilmore and Williams."", 'That capsule carrying the two people on Crew-9 arrived at the ISS back in September.', 'Crews rotate on the ISS, which means that each group of astronauts works until the next arrives at the space station, when a ceremonial ""handover"" occurs.', ""NASA had originally planned for SpaceX's Crew-10 mission — which needed to arrive before the Crew-9 members could come back down — to launch in February, but it was delayed by about a month."", 'The rocket carrying the four new crew members of Crew-10 launched on Friday evening, and its capsule docked at the space station about 29 hours later.', 'The Starliner crew flight test was supposed to check a final box for Boeing and deliver a key asset for NASA.', ""The agency was hoping to fulfill its dream of having two competing companies — Boeing andElon Musk's SpaceX — flying alternating missions to the ISS.Instead, it's unclear what Boeing's future crewed space plans are."", 'The company has lost more than $2 billion on its Starliner spacecraft.', '""Boeing all the way up to their new CEO Kelly [Ortberg] has been committed to Starliner,"" Steve Stich, manager of NASA\'s Commercial Crew Program, said in a press briefing Tuesday evening. ""', ""I can see that in the way they're approaching the solution to their problems. …"", 'I see them being very committed.', '""NASA officials in the briefing reiterated that Starliner needs to undergo more testing and left the option open that its next flight could be uncrewed.', ""Wilmore and Williams' journey became entangled in politics once President Donald Trump took office."", 'Trump and Musk, who has become a close advisor to the president, urged a quicker Crew-10 launch and said without evidence that the two astronauts were ""stranded"" on the space station and that the Biden administration had kept them up there for political reasons.', 'NASA had delayed the Crew-10 launch in December to allow more time to process a new Dragon capsule, but decided to use a reusable capsule to cut down on wait time.', ""NASA's plans for returning the two astronauts have remained consistent since the agency announced them in August."", 'During their extended stay, Wilmore and Williams became part of a normal rotation, conducting scientific experiments and routine maintenance as any other astronaut on rotation at the ISS would.', 'Williams also conducted a spacewalk.', 'Williams has said repeatedly that the pair doesn\'t feel ""abandoned"" at the ISS, but that she was looking forward to returning home to see her family and her two dogs.', '""It\'s been a roller coaster for them, probably a little bit more so than for us,"" she told reporters earlier this month.']",0.0429894556632367,"The agency was hoping to fulfill its dream of having two competing companies — Boeing andElon Musk's SpaceX — flying alternating missions to the ISS.Instead, it's unclear what Boeing's future crewed space plans are.","NASA had delayed the Crew-10 launch in December to allow more time to process a new Dragon capsule, but decided to use a reusable capsule to cut down on wait time.",-0.8697511355082194,,The company has lost more than $2 billion on its Starliner spacecraft.,2025-03-22
+"Ulta issues weak guidance, citing consumer uncertainty, rising competition and company missteps",https://www.cnbc.com/2025/03/13/ulta-beauty-ulta-earnings-q4-2024.html,2025-03-13T21:29:34+0000,"In this articleUlta Beauty on Thursday issued weak guidance for the year ahead as it navigates a series of internal missteps, rising competition and what it called ""consumer uncertainty.""The retailer, which appointed Kecia Steelman as its new CEO in January, said it's expecting comparable sales to be flat or grow 1% in 2025, while analysts had anticipated they would rise by 1.2%, according to StreetAccount. It's expecting full-year earnings to be between $22.50 and $22.90, lower than expectations of $23.47, according to LSEG. Ulta is the latest company to forecast a rocky year ahead. While it factored uncertain consumer spending into its guidance, the retailer is also navigating a series of company-specific challenges and views 2025 as a transition year. Fixing those issues will cost money, which is part of the reason why it's expecting profits to be lower than Wall Street anticipated in the year ahead.""I've shared our plan to make important guest-facing investments, which are necessary to improve our competitiveness and re-accelerate long term share growth,"" said Steelman on a call with analysts. ""These investments will pressure profitability in 2025 but we believe they are critical to driving long-term sustainable growth in a competitive, innovative category.""Shares rose 6% in extended trading.Here's how the beauty retailer did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Feb. 1 was $393 million, or $8.46 per share, compared with $394 million, or $8.08 per share, a year earlier.Sales dropped to $3.49 billion, down about 2% from $3.55 billion a year earlier. Like other retailers, Ulta benefited from an extra selling week in the year-ago period, which has negatively skewed results. Beauty has been one of retail's brightest spots over the last couple of years, but Ulta has fallen behind due to a series of self-inflicted challenges. The company's business has become more complex as it has grown, and Ulta has stumbled when launching new fulfillment choices, such as buy online, pickup in store, same-day delivery and ship from store.""As a result, our in-store presentation and guest experience today are not as strong as we would like,"" said Steelman. ""These are opportunities well within our control.""In January, Ulta announced that its longtime CEO Dave Kimbell would be replaced by its then-Chief Operating Officer Steelman, who has been with the retailer for more than a decade. Her experience as an operations guru makes her well suited to tackle some of the execution issues that have plagued Ulta.During her first earnings call as CEO, Steelman was candid about what Ulta is doing right and what it's doing wrong. She said the company will spend the next year resetting its business and working to take back the market share that it has lost.""The competitive environment in beauty has never been more intense,"" said Steelman. ""For the first time, we lost market share in the beauty category in 2024.""During Ulta's holiday quarter, comparable sales climbed 1.5%, beating expectations of 0.8% growth, according to StreetAccount. Customers spent more during the quarter, resulting in a 3% rise in average ticket, but fewer shoppers came to Ulta's stores to buy beauty products. Transactions during the quarter decreased by 1.4%. Part of that is likely because so many more companies are expanding into beauty. Not only does it compete with rival Sephora, but also mass retailers like Macy's, Walmart and Amazon have made beauty a cornerstone of their strategies and have all expanded their selections of makeup and skincare products.Last year, Ulta warned of a cooling beauty market, but companies like E.l.f. Beauty and Oddity didn't see similar dynamics, and beauty sales remained strong at retailers like Macy's and Target. In the meantime, Ulta has focused on boosting profitability. It managed to grow earnings during the quarter, even with one less selling week.",CNBC,13/03/2025,"['In this articleUlta Beauty on Thursday issued weak guidance for the year ahead as it navigates a series of internal missteps, rising competition and what it called ""consumer uncertainty.', '""The retailer, which appointed Kecia Steelman as its new CEO in January, said it\'s expecting comparable sales to be flat or grow 1% in 2025, while analysts had anticipated they would rise by 1.2%, according to StreetAccount.', ""It's expecting full-year earnings to be between $22.50 and $22.90, lower than expectations of $23.47, according to LSEG.Ulta is the latest company to forecast a rocky year ahead."", 'While it factored uncertain consumer spending into its guidance, the retailer is also navigating a series of company-specific challenges and views 2025 as a transition year.', ""Fixing those issues will cost money, which is part of the reason why it's expecting profits to be lower than Wall Street anticipated in the year ahead."", '""I\'ve shared our plan to make important guest-facing investments, which are necessary to improve our competitiveness and re-accelerate long term share growth,"" said Steelman on a call with analysts. ""', 'These investments will pressure profitability in 2025 but we believe they are critical to driving long-term sustainable growth in a competitive, innovative category.', '""Shares rose 6% in extended trading.', ""Here's how the beauty retailer did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Feb. 1 was $393 million, or $8.46 per share, compared with $394 million, or $8.08 per share, a year earlier."", 'Sales dropped to $3.49 billion, down about 2% from $3.55 billion a year earlier.', 'Like other retailers, Ulta benefited from an extra selling week in the year-ago period, which has negatively skewed results.', ""Beauty has been one of retail's brightest spots over the last couple of years, but Ulta has fallen behind due to a series of self-inflicted challenges."", ""The company's business has become more complex as it has grown, and Ulta has stumbled when launching new fulfillment choices, such as buy online, pickup in store, same-day delivery and ship from store."", '""As a result, our in-store presentation and guest experience today are not as strong as we would like,"" said Steelman. ""', 'These are opportunities well within our control.', '""In January, Ulta announced that its longtime CEO Dave Kimbell would be replaced by its then-Chief Operating Officer Steelman, who has been with the retailer for more than a decade.', 'Her experience as an operations guru makes her well suited to tackle some of the execution issues that have plagued Ulta.', ""During her first earnings call as CEO, Steelman was candid about what Ulta is doing right and what it's doing wrong."", 'She said the company will spend the next year resetting its business and working to take back the market share that it has lost.', '""The competitive environment in beauty has never been more intense,"" said Steelman. ""', 'For the first time, we lost market share in the beauty category in 2024.""During Ulta\'s holiday quarter, comparable sales climbed 1.5%, beating expectations of 0.8% growth, according to StreetAccount.', ""Customers spent more during the quarter, resulting in a 3% rise in average ticket, but fewer shoppers came to Ulta's stores to buy beauty products."", 'Transactions during the quarter decreased by 1.4%.Part of that is likely because so many more companies are expanding into beauty.', ""Not only does it compete with rival Sephora, but also mass retailers like Macy's, Walmart and Amazon have made beauty a cornerstone of their strategies and have all expanded their selections of makeup and skincare products."", 'Last year, Ulta warned of a cooling beauty market, but companies like E.l.f.', ""Beauty and Oddity didn't see similar dynamics, and beauty sales remained strong at retailers like Macy's and Target."", 'In the meantime, Ulta has focused on boosting profitability.', 'It managed to grow earnings during the quarter, even with one less selling week.']",0.321555487728933,"Beauty and Oddity didn't see similar dynamics, and beauty sales remained strong at retailers like Macy's and Target.","During her first earnings call as CEO, Steelman was candid about what Ulta is doing right and what it's doing wrong.",0.1701443940401077,"""Shares rose 6% in extended trading.","Fixing those issues will cost money, which is part of the reason why it's expecting profits to be lower than Wall Street anticipated in the year ahead.",2025-03-22
+Edible Arrangements' parent company is launching a marketplace for the other kind of edibles,https://www.cnbc.com/2025/03/20/edible-arrangements-parent-launches-hemp-marketplace-ediblescom.html,2025-03-20T19:16:25+0000,"The parent company of Edible Arrangements is moving into a different kind of edible.Edible Brands is launching Edibles.com, an e-commerce marketplace for hemp products, such as Cann drinks and Wana gummies.The 2018 Farm Bill legalized hemp, which is legally defined as a plant that contains 0.3% or less tetrahydrocannabinol, or THC, the primary intoxicant in cannabis. The federal law paved the way for companies to sell products with THC derived from hemp rather than marijuana across most states, even if those areas haven't legalized marijuana.A handful of states, like Connecticut, have placed restrictions on how much THC a hemp product can contain. But in much of the country, hemp legalization has led to a veritable Wild West.""There's a lot of demand for hemp products out there right now, but what people are looking for is that safe and trusted place to buy it,"" Edible Brands CEO Somia Farid Silber told CNBC.The website launches Friday, starting with Texas. The company is planning to roll out the platform nationwide quickly, with Florida, Georgia and other Southeastern markets following soon after Texas.Edibles.com also has a lease for a brick-and-mortar location in Inman Park in Atlanta and said it plans to add physical locations in other states as well.""This is a defining moment for the hemp industry,"" Cann CEO and co-founder Jake Bullock said in a statement. ""A trusted, high-quality marketplace like Edibles.com has the power to reshape the future of THC products and drive the long-term industry growth we've all been working toward.""As a private company, Edible Brands does not have to disclose its quarterly financial results. The business, best known for its fruit baskets inspired by floral bouquets, had nearly 800 locations as of the end of 2023.While cannabis remains illegal at the federal level, 24 states have legalized it for recreational use. Legal retail sales were projected to surpass $32 billion in 2024, with roughly 14% — or $4.5 billion — coming from edibles, according to a study from cannabis-focused software company Leaflink.Silber said the idea of selling edibles has been percolating ""for a while.""A year ago, the company acquired the edibles.com domain name after settling a yearslong lawsuit against World Media Group for ""cybersquatting,"" or registering a well-known domain name in the hope of reselling it for a profit.By July, Edible Brands hired cannabis executive Thomas Winstanley as executive vice president of Edibles.com. And in October, Silber took the reins as CEO after eight years at the company.""We positioned it as a way to be able to create that connection for people who may be looking for permission to try these things, who have been hearing about them,"" Winstanley said. ""But it's different when you walk in and see these products at a gas station, instead of seeing a collection of the nation's leading products.""For one, the dosage of Edibles.com's offerings hover around five milligrams per serving, according to Winstanley. The dose is considered on the low end; Colorado, for example, caps edible cannabis products at 10 milligrams of THC per serving.Plus, when selecting its suppliers, the company stuck with companies that are well known in the hemp and cannabis industries in order to increase trust in the platform. In addition to Cann and Wana, brands sold on Edibles.com include Cantrip and 1906.Those suppliers went through a tough compliance audit and questioning to make sure their production and sourcing were above board, Winstanley said.And it isn't just suppliers who have to worry about compliance.Edibles.com will fulfill its online orders using its existing franchise system. The Edible Arrangements franchisees who participate will allow the nascent business to offer same-day or next-day delivery, just like it does with its fruit baskets or chocolate-dipped strawberries.""With our franchise network that we have today, we can cover 70% of households in the U.S. within an hour,"" Silber said.Edibles.com has done ""extensive"" compliance and background checks to make sure that the operators involved understand the requirements of delivering its edibles, according to Winstanley.Select products will also be available for nationwide shipping even before Edibles.com expands to other markets.Ahead of the official launch, Edible Brands is already looking to the future, with bold expansion plans.Its future slate could include making its own edibles, Winstanley said: ""That's another extension that we're actively working on in real time.""Less likely is a collaboration between Edibles.com and its sister company. However, Silber said that the initial marketing will play into long-running questions from Edible Arrangements customers about why the company doesn't sell the other kind of edibles.",CNBC,20/03/2025,"['The parent company of Edible Arrangements is moving into a different kind of edible.', 'Edible Brands is launching Edibles.com, an e-commerce marketplace for hemp products, such as Cann drinks and Wana gummies.', 'The 2018 Farm Bill legalized hemp, which is legally defined as a plant that contains 0.3% or less tetrahydrocannabinol, or THC, the primary intoxicant in cannabis.', ""The federal law paved the way for companies to sell products with THC derived from hemp rather than marijuana across most states, even if those areas haven't legalized marijuana."", 'A handful of states, like Connecticut, have placed restrictions on how much THC a hemp product can contain.', 'But in much of the country, hemp legalization has led to a veritable Wild West.', '""There\'s a lot of demand for hemp products out there right now, but what people are looking for is that safe and trusted place to buy it,"" Edible Brands CEO Somia Farid Silber told CNBC.The website launches Friday, starting with Texas.', 'The company is planning to roll out the platform nationwide quickly, with Florida, Georgia and other Southeastern markets following soon after Texas.Edibles.com also has a lease for a brick-and-mortar location in Inman Park in Atlanta and said it plans to add physical locations in other states as well.', '""This is a defining moment for the hemp industry,"" Cann CEO and co-founder Jake Bullock said in a statement. ""', ""A trusted, high-quality marketplace like Edibles.com has the power to reshape the future of THC products and drive the long-term industry growth we've all been working toward."", '""As a private company, Edible Brands does not have to disclose its quarterly financial results.', 'The business, best known for its fruit baskets inspired by floral bouquets, had nearly 800 locations as of the end of 2023.While cannabis remains illegal at the federal level, 24 states have legalized it for recreational use.', 'Legal retail sales were projected to surpass $32 billion in 2024, with roughly 14% — or $4.5 billion — coming from edibles, according to a study from cannabis-focused software company Leaflink.', 'Silber said the idea of selling edibles has been percolating ""for a while.', '""A year ago, the company acquired the edibles.com domain name after settling a yearslong lawsuit against World Media Group for ""cybersquatting,"" or registering a well-known domain name in the hope of reselling it for a profit.', 'By July, Edible Brands hired cannabis executive Thomas Winstanley as executive vice president of Edibles.com.', 'And in October, Silber took the reins as CEO after eight years at the company.', '""We positioned it as a way to be able to create that connection for people who may be looking for permission to try these things, who have been hearing about them,"" Winstanley said. ""', ""But it's different when you walk in and see these products at a gas station, instead of seeing a collection of the nation's leading products."", '""For one, the dosage of Edibles.com\'s offerings hover around five milligrams per serving, according to Winstanley.', 'The dose is considered on the low end; Colorado, for example, caps edible cannabis products at 10 milligrams of THC per serving.', 'Plus, when selecting its suppliers, the company stuck with companies that are well known in the hemp and cannabis industries in order to increase trust in the platform.', 'In addition to Cann and Wana, brands sold on Edibles.com include Cantrip and 1906.Those suppliers went through a tough compliance audit and questioning to make sure their production and sourcing were above board, Winstanley said.', ""And it isn't just suppliers who have to worry about compliance.Edibles.com will fulfill its online orders using its existing franchise system."", 'The Edible Arrangements franchisees who participate will allow the nascent business to offer same-day or next-day delivery, just like it does with its fruit baskets or chocolate-dipped strawberries.', '""With our franchise network that we have today, we can cover 70% of households in the U.S. within an hour,"" Silber said.Edibles.com has done ""extensive"" compliance and background checks to make sure that the operators involved understand the requirements of delivering its edibles, according to Winstanley.', 'Select products will also be available for nationwide shipping even before Edibles.com expands to other markets.', 'Ahead of the official launch, Edible Brands is already looking to the future, with bold expansion plans.', 'Its future slate could include making its own edibles, Winstanley said: ""That\'s another extension that we\'re actively working on in real time.', '""Less likely is a collaboration between Edibles.com and its sister company.', ""However, Silber said that the initial marketing will play into long-running questions from Edible Arrangements customers about why the company doesn't sell the other kind of edibles.""]",0.2521863036793272,"""There's a lot of demand for hemp products out there right now, but what people are looking for is that safe and trusted place to buy it,"" Edible Brands CEO Somia Farid Silber told CNBC.The website launches Friday, starting with Texas.","The dose is considered on the low end; Colorado, for example, caps edible cannabis products at 10 milligrams of THC per serving.",0.6633716651371547,"Legal retail sales were projected to surpass $32 billion in 2024, with roughly 14% — or $4.5 billion — coming from edibles, according to a study from cannabis-focused software company Leaflink.","In addition to Cann and Wana, brands sold on Edibles.com include Cantrip and 1906.Those suppliers went through a tough compliance audit and questioning to make sure their production and sourcing were above board, Winstanley said.",2025-03-22
+"Spirit Airlines, fresh from bankruptcy, is ready to take on the new Southwest, CEO says",https://www.cnbc.com/2025/03/13/spirit-airlines-ceo-on-new-southwest.html,2025-03-13T19:21:22+0000,"In this articleSpirit Airlines is out of bankruptcy, hitting its target to emerge in the first quarter, after a crippling few years. CEO Ted Christie says the carrier is leaner and ready to take on competitors, including rival Southwest Airlines.Earlier this week, Southwest shocked customers by announcing it will start charging for checked bags for the first time in its half-century of flying, a huge strategy move for the largest domestic U.S. carrier. (There are some exceptions to Southwest's new bag rules, which take effect in late May.)""I think it's going to be painful for a little bit as they find their footing, and we're going to take advantage of that,"" Spirit's Christie said in an interview Thursday.Southwest had been a standout in the U.S. by offering all customers two free checked bags, a perk that has endured recessions, spikes in fuel prices and other crises while most rivals introduced bag fees and raised them every few years.Spirit Airlines, on the other hand, made a la carte pricing common in the U.S., with fees for seat assignments, checked bags and other add-ons. It's a strategy most large airlines, except for Southwest, have copied in one form or another.As Southwest starts charging for bags and introduces its first basic economy class, which doesn't include a seat assignment or allow free changes, Spirit could possibly win over customers, Christie said.Southwest said it would get rid of its single-class open seating model last year.""There at least was an audience of people who were intentionally selecting and flying Southwest because they felt that it was easy. They knew they were going to get two bags,"" Christie said. ""Now that that's no longer the case, it's easy to say that they're going to widen their aperture and they're now going to look around.""Spirit is far smaller than Southwest and even smaller than it was last year, but it competes with the airline in cities like Kansas City, Missouri; Nashville, Tennessee; Columbus, Ohio; and Milwaukee. If customers look on travel sites like Expedia, where Southwest is a new entrant, Spirit's tickets could be cheaper and appear higher in results, Christie said.Other airline executives have also said they expect to win over some Southwest customers.Delta Air Lines President Glen Hauenstein said at a JPMorgan industry conference Tuesday that there are consumers who choose Southwest based on its free bag perk ""and now those customers are up for grabs.""Spirit, for its part, has recently been offering more ticket bundles that include things like seat assignments and luggage.The carrier is now focused on returning to profitability. It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.Spirit has rejected multiple recent merger attempts by fellow budget carrier Frontier Airlines. Christie said Thursday that nothing is ""off the table"" and that a fifth-largest airline in the U.S. as a low-cost carrier makes sense, but that the airline is focused on stabilizing itself after bankruptcy.Through its restructuring process, which started in November, Spirit said it reduced its debt by about $795 million. The transaction converted debt into equity for major creditors. The carrier also received a $350 million equity infusion.Spirit plans to relist its shares on a stock exchange but hasn't set a date yet.",CNBC,13/03/2025,"['In this articleSpirit Airlines is out of bankruptcy, hitting its target to emerge in the first quarter, after a crippling few years.', 'CEO Ted Christie says the carrier is leaner and ready to take on competitors, including rival Southwest Airlines.', 'Earlier this week, Southwest shocked customers by announcing it will start charging for checked bags for the first time in its half-century of flying, a huge strategy move for the largest domestic U.S. carrier. (', 'There are some exceptions to Southwest\'s new bag rules, which take effect in late May.)""I think it\'s going to be painful for a little bit as they find their footing, and we\'re going to take advantage of that,"" Spirit\'s Christie said in an interview Thursday.', 'Southwest had been a standout in the U.S. by offering all customers two free checked bags, a perk that has endured recessions, spikes in fuel prices and other crises while most rivals introduced bag fees and raised them every few years.', 'Spirit Airlines, on the other hand, made a la carte pricing common in the U.S., with fees for seat assignments, checked bags and other add-ons.', ""It's a strategy most large airlines, except for Southwest, have copied in one form or another."", ""As Southwest starts charging for bags and introduces its first basic economy class, which doesn't include a seat assignment or allow free changes, Spirit could possibly win over customers, Christie said."", 'Southwest said it would get rid of its single-class open seating model last year.', '""There at least was an audience of people who were intentionally selecting and flying Southwest because they felt that it was easy.', 'They knew they were going to get two bags,"" Christie said. ""', ""Now that that's no longer the case, it's easy to say that they're going to widen their aperture and they're now going to look around."", '""Spirit is far smaller than Southwest and even smaller than it was last year, but it competes with the airline in cities like Kansas City, Missouri; Nashville, Tennessee; Columbus, Ohio; and Milwaukee.', ""If customers look on travel sites like Expedia, where Southwest is a new entrant, Spirit's tickets could be cheaper and appear higher in results, Christie said."", 'Other airline executives have also said they expect to win over some Southwest customers.', 'Delta Air LinesPresident Glen Hauenstein said at a JPMorgan industry conference Tuesday that there are consumers who choose Southwest based on its free bag perk ""and now those customers are up for grabs.', '""Spirit, for its part, has recently been offering more ticket bundles that include things like seat assignments and luggage.', 'The carrier is now focused on returning to profitability.', 'It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.', 'Spirit has rejected multiple recent merger attempts by fellow budget carrier Frontier Airlines.', 'Christie said Thursday that nothing is ""off the table"" and that a fifth-largest airline in the U.S. as a low-cost carrier makes sense, but that the airline is focused on stabilizing itself after bankruptcy.', 'Through its restructuring process, which started in November, Spirit said it reduced its debt by about $795 million.', 'The transaction converted debt into equity for major creditors.', 'The carrier also received a $350 million equity infusion.', ""Spirit plans to relist its shares on a stock exchange but hasn't set a date yet.""]",0.2022658279187688,"As Southwest starts charging for bags and introduces its first basic economy class, which doesn't include a seat assignment or allow free changes, Spirit could possibly win over customers, Christie said.","It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.",0.6402744325724515,Other airline executives have also said they expect to win over some Southwest customers.,"It posted a net loss of over $1.2 billion last year, more than double its loss in 2023 as it grappled with grounded jets because of a Pratt & Whitney engine recall, higher costs, more domestic competition and a failed acquisition by JetBlue Airways.",2025-03-22
+"Nike expects sales will plunge in current quarter as it faces tariffs, sliding consumer confidence",https://www.cnbc.com/2025/03/20/nike-nke-q3-2025-earnings.html,2025-03-21T14:12:10+0000,"In this articleNike on Thursday warned that sales will drop by a double digit percentage in its current quarter as the sneaker giant contends with new tariffs, sliding consumer confidence and a slower than expected turnaround.In a conference call with analysts, finance chief Matt Friend said Nike expects its sales decline in the fiscal fourth quarter, which is set to end in May, to be at the ""low end"" of the ""mid-teens range."" It also anticipates its gross margin will fall between 4 and 5 percentage points as it ramps up efforts to liquidate excess inventory and stale styles that are no longer resonating with consumers — a process it expects to continue into fiscal 2026.""We believe that the fourth quarter will reflect the largest impact from our ... actions, and that the headwinds to revenue and gross margin will begin to moderate from there,"" said Friend. ""We are also navigating through several external factors that create uncertainty in the current operating environment, including geopolitical dynamics, new tariffs, volatile foreign exchange rates and tax regulations, as well as the impact of this uncertainty and other macro factors on consumer confidence.""The guidance is far worse than analysts had expected. Consensus estimates from LSEG show Wall Street had expected sales to be down 11.4% in the current quarter.Shares fell more than 4% in extended trading and are down more than 5% year to date, as of Thursday's close.Beyond guidance, Nike beat Wall Street's expectations in its fiscal third quarter.Here's how the company performed during the quarter, compared with estimates from analysts polled by LSEG:The company's reported net income for the three-month period that ended Feb. 28 was $794 million, or 54 cents per share, compared with $1.17 billion, or 77 cents per share, a year earlier.Sales dropped to $11.27 billion, down about 9% from $12.4 billion a year earlier. Like other retailers, Nike saw strong demand in December followed by ""double digit"" declines in January and February. While Nike delivered a strong earnings beat, expectations were low headed into the release and profits fell 32% from the year-ago period.During the quarter, Nike's gross margin fell by 3.3 percentage points to 41.5%, lower than expectations of 41.8%, according to StreetAccount. That's largely because of the costs associated with Nike's efforts to clear out old inventory in favor of new, innovative styles. In a press release, the company attributed its drop in gross margin to ""higher discounts, higher inventory obsolescence reserves, higher product costs and changes in channel mix.""Meanwhile, sales were down 9%, driven by weakness in China. During the quarter, sales fell 17% in the key region to $1.73 billion, falling short of expectations of $1.84 billion, according to StreetAccount. ""I spent some time over there in December. I hadn't been over there in a while. The competition is a bit more aggressive than what I remembered,"" CEO Elliott Hill, who left Nike in 2020 and returned last year, told analysts. ""So we've just got to accelerate our pace.""Thursday's release comes about five months into Hill's tenure as CEO and his efforts to turn around the business and get it back to growth. He has focused on winning back wholesale partners, reigniting innovation and wooing back athletes that have fled to new competitors, but the work has not yet yielded results.""I'll start by saying I'm proud of the progress we made against the key actions we committed to 90 days ago. While we met the expectations we set, we're not satisfied with our overall results,"" Hill told analysts. ""We can and will be better.""During the quarter, sales on Nike's direct channels dropped 12% to $4.7 billion. Wholesale revenue fell 7% to $6.2 billion.Plus, since Hill took over, the company is now contending with a new set of dynamics that could make its comeback even harder to execute.In the three months since Nike last reported earnings, President Donald Trump has put a new 20% tariff on goods imported from China, consumer sentiment has fallen, and retail sales in both January and February were weaker than expected.Out of the hundreds of suppliers and manufacturers that Nike works with, about 24% of them are located in China, according to a manufacturing disclosure published in January. If the retailer doesn't raise prices to offset tariffs and can't push the cost entirely on to suppliers, Nike's margins are expected to take a hit from the new duties. On Thursday's call, Nike didn't say whether it would raise prices or how exactly the new duties would affect margins.Further, when consumers aren't feeling confident and cutting back on spending, discretionary products like new clothes and shoes are one of the first things they cut out in favor of necessities. Over the last few years, the overall sneaker and apparel markets have been slow because consumers have cut back on clothes and shoes. But up until recently, strong companies were still performing well and taking market share from weaker competitors.However, that trend began to shift over the last few weeks when even the strongest of companies started to sound the alarm about soft consumer spending when they reported first-quarter earnings, raising questions about the health of the economy.During the quarter, sales in North America — Nike's largest market — fell 4% to $4.86 billion. Still, revenue in the region came in better than the $4.53 billion analysts had expected, according to StreetAccount.Nike is widely expected to reclaim the market share it lost and reset its business, and some insiders say the company's problems have been overblown. Even so, the tariffs and economic fears could mean that the retailer's turnaround could take longer, and be more difficult, than expected.What's key to Nike's turnaround plan is its ability to reignite innovation and create the type of industry-leading shoes and apparel that have long made it the market leader. During a call with analysts, Hill said early releases for the company's new Pegasus Premium ""nearly sold out"" across North America and will scale through fall 2025. Its Romero 18, created for the everyday runner, has seen ""outstanding"" results, and Nike plans to double distribution by mid-April.""It will take time to reach the volume to replace the handful of classic franchises we over-indexed on, but our approach is simple,"" said Hill. ""Help consumers fall in love with something new from Nike, and that something is not replacing one icon for another.""Nike has already made strides in its efforts to grow its female consumer base, another key component to boosting revenue and apparel sales. Last month, it announced it was teaming up with Kim Kardashian's intimates brand Skims to create a new product line dubbed NikeSKIMS that will include apparel, footwear and accessories. The buzzy partnership is expected to give Nike improved inroads with women and allow it to better compete with Lululemon, Alo Yoga and Vuori, which cater more to women than Nike currently does.Further, Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades. The campaign showed that reaching female athletes and capturing the buzz around women's sports will be a center point of Hill's strategy.If Nike can continue to show positive signs from new product launches and partnerships, the rest of its headwinds might just be drowned out as noise.",CNBC,21/03/2025,"['In this articleNike on Thursday warned that sales will drop by a double digit percentage in its current quarter as the sneaker giant contends with new tariffs, sliding consumer confidence and a slower than expected turnaround.', 'In a conference call with analysts, finance chief Matt Friend said Nike expects its sales decline in the fiscal fourth quarter, which is set to end in May, to be at the ""low end"" of the ""mid-teens range.""', 'It also anticipates its gross margin will fall between 4 and 5 percentage points as it ramps up efforts to liquidate excess inventory and stale styles that are no longer resonating with consumers — a process it expects to continue into fiscal 2026.""We believe that the fourth quarter will reflect the largest impact from our ... actions, and that the headwinds to revenue and gross margin will begin to moderate from there,"" said Friend. ""', 'We are also navigating through several external factors that create uncertainty in the current operating environment, including geopolitical dynamics, new tariffs, volatile foreign exchange rates and tax regulations, as well as the impact of this uncertainty and other macro factors on consumer confidence.', '""The guidance is far worse than analysts had expected.', 'Consensus estimates from LSEG show Wall Street had expected sales to be down 11.4% in the current quarter.', ""Shares fell more than 4% in extended trading and are down more than 5% year to date, as of Thursday's close."", ""Beyond guidance, Nike beat Wall Street's expectations in its fiscal third quarter."", ""Here's how the company performed during the quarter, compared with estimates from analysts polled by LSEG:The company's reported net income for the three-month period that ended Feb. 28 was $794 million, or 54 cents per share, compared with $1.17 billion, or 77 cents per share, a year earlier."", 'Sales dropped to $11.27 billion, down about 9% from $12.4 billion a year earlier.', 'Like other retailers, Nike saw strong demand in December followed by ""double digit"" declines in January and February.', 'While Nike delivered a strong earnings beat, expectations were low headed into the release and profits fell 32% from the year-ago period.', ""During the quarter, Nike's gross margin fell by 3.3 percentage points to 41.5%, lower than expectations of 41.8%, according to StreetAccount."", ""That's largely because of the costs associated with Nike's efforts to clear out old inventory in favor of new, innovative styles."", 'In a press release, the company attributed its drop in gross margin to ""higher discounts, higher inventory obsolescence reserves, higher product costs and changes in channel mix.', '""Meanwhile, sales were down 9%, driven by weakness in China.', 'During the quarter, sales fell 17% in the key region to $1.73 billion, falling short of expectations of $1.84 billion, according to StreetAccount.', '""I spent some time over there in December.', ""I hadn't been over there in a while."", 'The competition is a bit more aggressive than what I remembered,"" CEO Elliott Hill, who left Nike in 2020 and returned last year, told analysts. ""', ""So we've just got to accelerate our pace."", '""Thursday\'s release comes about five months into Hill\'s tenure as CEO and his efforts to turn around the business and get it back to growth.', 'He has focused on winning back wholesale partners, reigniting innovation and wooing back athletes that have fled to new competitors, but the work has not yet yielded results.', '""I\'ll start by saying I\'m proud of the progress we made against the key actions we committed to 90 days ago.', 'While we met the expectations we set, we\'re not satisfied with our overall results,"" Hill told analysts. ""', 'We can and will be better.', '""During the quarter, sales on Nike\'s direct channels dropped 12% to $4.7 billion.', 'Wholesale revenue fell 7% to $6.2 billion.', 'Plus, since Hill took over, the company is now contending with a new set of dynamics that could make its comeback even harder to execute.', 'In the three months since Nike last reported earnings, President Donald Trump has put a new 20% tariff on goods imported from China, consumer sentiment has fallen, and retail sales in both January and February were weaker than expected.', 'Out of the hundreds of suppliers and manufacturers that Nike works with, about 24% of them are located in China, according to a manufacturing disclosure published in January.', ""If the retailer doesn't raise prices to offset tariffs and can't push the cost entirely on to suppliers, Nike's margins are expected to take a hit from the new duties."", ""On Thursday's call, Nike didn't say whether it would raise prices or how exactly the new duties would affect margins."", ""Further, when consumers aren't feeling confident and cutting back on spending, discretionary products like new clothes and shoes are one of the first things they cut out in favor of necessities."", 'Over the last few years, the overall sneaker and apparel markets have been slow because consumers have cut back on clothes and shoes.', 'But up until recently, strong companies were still performing well and taking market share from weaker competitors.', 'However, that trend began to shift over the last few weeks when even the strongest of companies started to sound the alarm about soft consumer spending when they reported first-quarter earnings, raising questions about the health of the economy.', ""During the quarter, sales in North America — Nike's largest market — fell 4% to $4.86 billion."", 'Still, revenue in the region came in better than the $4.53 billion analysts had expected, according to StreetAccount.', ""Nike is widely expected to reclaim the market share it lost and reset its business, and some insiders say the company's problems have been overblown."", ""Even so, the tariffs and economic fears could mean that the retailer's turnaround could take longer, and be more difficult, than expected."", ""What's key to Nike's turnaround plan is its ability to reignite innovation and create the type of industry-leading shoes and apparel that have long made it the market leader."", 'During a call with analysts, Hill said early releases for the company\'s new Pegasus Premium ""nearly sold out"" across North America and will scale through fall 2025.', 'Its Romero 18, created for the everyday runner, has seen ""outstanding"" results, and Nike plans to double distribution by mid-April.', '""It will take time to reach the volume to replace the handful of classic franchises we over-indexed on, but our approach is simple,"" said Hill. ""', 'Help consumers fall in love with something new from Nike, and that something is not replacing one icon for another.', '""Nike has already made strides in its efforts to grow its female consumer base, another key component to boosting revenue and apparel sales.', ""Last month, it announced it was teaming up with Kim Kardashian's intimates brand Skims to create a new product line dubbed NikeSKIMS that will include apparel, footwear and accessories."", 'The buzzy partnership is expected to give Nike improved inroads with women and allow it to better compete with Lululemon, Alo Yoga and Vuori, which cater more to women than Nike currently does.', 'Further, Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades.', ""The campaign showed that reaching female athletes and capturing the buzz around women's sports will be a center point of Hill's strategy."", 'If Nike can continue to show positive signs from new product launches and partnerships, the rest of its headwinds might just be drowned out as noise.']",0.1362983811031821,"That's largely because of the costs associated with Nike's efforts to clear out old inventory in favor of new, innovative styles.","Even so, the tariffs and economic fears could mean that the retailer's turnaround could take longer, and be more difficult, than expected.",-0.1913316814522994,"Still, revenue in the region came in better than the $4.53 billion analysts had expected, according to StreetAccount.","While Nike delivered a strong earnings beat, expectations were low headed into the release and profits fell 32% from the year-ago period.",2025-03-22
+NBA may bring back iconic highlight show 'NBA Inside Stuff',https://www.cnbc.com/2025/03/19/nba-may-bring-back-nba-inside-stuff-highlight-show.html,2025-03-20T16:35:19+0000,"The NBA is quietly preparing to bring back its iconic show ""NBA Inside Stuff.""On Monday, the league filed two trademark applications for ""NBA Inside Stuff,"" the name of the long-running NBA highlight show that has aired on three different networks during its history — most notably from 1990 to 2006 on NBC and ABC. The show was briefly resurrected from 2013 to 2016 on NBA TV.NBC is considering bringing back a ""refreshed version"" of the program, according to a person familiar with the matter. NBC will once again air live NBA games next season after losing the broadcast rights in 2002.No decision has been made on whether to renew the show, the people said. An NBC spokesman declined to comment.The NBA did not immediately respond to a request to comment. However, a source close to the league said the filing is part of the NBA's routine trademark process.The league previously owned multiple ""NBA Inside Stuff"" trademark registrations, but let them lapse, likely because it was no longer using the trademark.""NBA Inside Stuff"" was initially hosted by sportscaster Ahmad Rashad, who aimed to popularize and humanize NBA players with behind-the-scenes access. The show's ""Rewind"" segment, featuring game highlights and Rashad yelling out days of the week, became a staple of the show.The league's two trademark filings indicate the league aims to use the ""NBA Inside Stuff"" name for a television show and to produce branded merchandise.Josh Gerben, a trademark attorney at Gerben IP, said television doesn't necessarily mean linear TV. It could be in the form of a YouTube or TikTok show.""This is great intellectual property for the league,"" Gerben said. ""I think it makes a lot of business sense right now.""The league would likely try to license the IP to one of its media partners, Gerben said.In July, the NBA signed a 11-year, $76 billion media rights deal with The Walt Disney Company, NBCUniversal and Amazon that kicks off next season.NBC may be trying to tap into nostalgia from its past run showing NBA games. In November, composer John Tesh revealed on CNBC that he's working with NBC to bring back his famous ""Roundball Rock"" song.Disclosure: NBCUniversal is the parent company of CNBC.",CNBC,20/03/2025,"['The NBA is quietly preparing to bring back its iconic show ""NBA Inside Stuff.', '""On Monday, the league filed two trademark applications for ""NBA Inside Stuff,"" the name of the long-running NBA highlight show that has aired on three different networks during its history — most notably from 1990 to 2006 on NBC and ABC.', 'The show was briefly resurrected from 2013 to 2016 on NBA TV.NBC is considering bringing back a ""refreshed version"" of the program, according to a person familiar with the matter.', 'NBC will once again air live NBA games next season after losing the broadcast rights in 2002.No decision has been made on whether to renew the show, the people said.', 'An NBC spokesman declined to comment.', 'The NBA did not immediately respond to a request to comment.', ""However, a source close to the league said the filing is part of the NBA's routine trademark process."", 'The league previously owned multiple ""NBA Inside Stuff"" trademark registrations, but let them lapse, likely because it was no longer using the trademark.', '""NBA Inside Stuff"" was initially hosted by sportscaster Ahmad Rashad, who aimed to popularize and humanize NBA players with behind-the-scenes access.', 'The show\'s ""Rewind"" segment, featuring game highlights and Rashad yelling out days of the week, became a staple of the show.', 'The league\'s two trademark filings indicate the league aims to use the ""NBA Inside Stuff"" name for a television show and to produce branded merchandise.', ""Josh Gerben, a trademark attorney at Gerben IP, said television doesn't necessarily mean linear TV."", 'It could be in the form of a YouTube or TikTok show.', '""This is great intellectual property for the league,"" Gerben said. ""', 'I think it makes a lot of business sense right now.', '""The league would likely try to license the IP to one of its media partners, Gerben said.', 'In July, the NBA signed a 11-year, $76 billion media rights deal with The Walt Disney Company, NBCUniversal and Amazon that kicks off next season.', 'NBC may be trying to tap into nostalgia from its past run showing NBA games.', 'In November, composer John Tesh revealed on CNBC that he\'s working with NBC to bring back his famous ""Roundball Rock"" song.', 'Disclosure: NBCUniversal is the parent company of CNBC.']",0.0435575810450199,"""This is great intellectual property for the league,"" Gerben said. ""","The league previously owned multiple ""NBA Inside Stuff"" trademark registrations, but let them lapse, likely because it was no longer using the trademark.",0.9950615962346396,I think it makes a lot of business sense right now.,,2025-03-22
+"Boeing shares jump after CFO gives upbeat outlook, says cash burn is easing",https://www.cnbc.com/2025/03/19/boeing-shares-jump-as-cfo-says-plane-makers-cash-burn-is-easing.html,2025-03-19T20:41:52+0000,"In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises.Boeing shares ended the day nearly 7% higher after CFO Brian West's upbeat comments, leading the Dow Jones Industrial Average and S&P 500 higher.""We think we're off to a good start for the year,"" West said at a Bank of America investor conference. He said cash burn improvement could be in the ""hundreds of millions"" of dollars.Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems. Boeing last posted an annual profit in 2018.West said the massive fire at a Pennsylvania aviation fastener factory in February won't have a near-term production impact or affect Boeing's goal to get monthly output to 38 737 Max aircraft a month and seven 787 Dreamliners because of its elevated inventory.The FAA last year barred Boeing from ramping production up beyond 38 Max planes a month following the January 2024 midair blow out of a door plug on a passenger jet. New Transportation Secretary Sean Duffy said the cap remains in place, following a visit to Boeing's 737 Max factory in Renton, Washington, last week.Boeing is still working up to its capped production rate.West also brushed off immediate concerns about President Donald Trump's proposed tariffs, but said any impact depends on how long the uncertainty lasts.",CNBC,19/03/2025,"[""In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises."", ""Boeing shares ended the day nearly 7% higher after CFO Brian West's upbeat comments, leading the Dow Jones Industrial Average and S&P 500 higher."", '""We think we\'re off to a good start for the year,"" West said at a Bank of America investor conference.', 'He said cash burn improvement could be in the ""hundreds of millions"" of dollars.', 'Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems.', ""Boeing last posted an annual profit in 2018.West said the massive fire at a Pennsylvania aviation fastener factory in February won't have a near-term production impact or affect Boeing's goal to get monthly output to 38 737 Max aircraft a month and seven 787 Dreamliners because of its elevated inventory."", 'The FAA last year barred Boeing from ramping production up beyond 38 Max planes a month following the January 2024 midair blow out of a door plug on a passenger jet.', ""New Transportation Secretary Sean Duffy said the cap remains in place, following a visit to Boeing's 737 Max factory in Renton, Washington, last week."", 'Boeing is still working up to its capped production rate.', ""West also brushed off immediate concerns about President Donald Trump's proposed tariffs, but said any impact depends on how long the uncertainty lasts.""]",0.0930748581058197,"In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises.","Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems.",0.2584757134318352,"In this articleBoeing's cash burn is easing this quarter and its factories are improving to deliver more planes this year, the aerospace giant's finance chief said Wednesday, as the company works to turn a corner on several manufacturing and safety crises.","Boeing went through about $14 billion last year, including more than $4 billion in the last three months of 2024, when it struggled through a nearly two-month labor strike at its largest factories and faced other production problems.",2025-03-22
+Watch NASA astronauts return to Earth on SpaceX capsule after months on the ISS,https://www.cnbc.com/2025/03/18/watch-live-astronauts-return-spacex-capsule-iss.html,2025-03-18T22:11:42+0000,"[The stream is slated to start at 4:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]NASA astronauts Butch Wilmore and Suni Williams are set to splash down on Earth on Tuesday evening after spending more than nine months in space.They were originally supposed to be at the International Space Station for a little over a week, but their stay was extended after the Boeing Starliner capsule that they took in June experienced issues.Instead, Wilmore and Williams are returning on a SpaceX Dragon spacecraft with fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov.Subscribe to CNBC on YouTube.",CNBC,18/03/2025,"['[The stream is slated to start at 4:45 p.m. ET.', 'Please refresh the page if you do not see a player above at that time.]NASA astronauts Butch Wilmore and Suni Williams are set to splash down on Earth on Tuesday evening after spending more than nine months in space.', 'They were originally supposed to be at the International Space Station for a little over a week, but their stay was extended after the Boeing Starliner capsule that they took in June experienced issues.', 'Instead, Wilmore and Williams are returning on aSpaceX Dragon spacecraftwith fellow NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov.', 'Subscribe to CNBC on YouTube.']",0.0636421993542483,Please refresh the page if you do not see a player above at that time.]NASA astronauts Butch Wilmore and Suni Williams are set to splash down on Earth on Tuesday evening after spending more than nine months in space.,,,,,2025-03-22
+"U.S. consumers are starting to crack as tariffs add to inflation, recession concerns",https://www.cnbc.com/2025/03/14/delta-walmart-warn-about-consumer-spending-amid-tariffs-inflation.html,2025-03-15T11:18:46+0000,"It's not just Walmart.The leaders of companies that serve everyone from penny-pinching grocery shoppers to first-class travelers are seeing cracks in demand, a shift after resilient consumers propped up the U.S. economy for years despite prolonged inflation. On top of high interest rates and persistent inflation, CEOs are now grappling with how to handle new hurdles like on-again, off-again tariffs, mass government layoffs and worsening consumer sentiment.Across earnings calls and investor presentations in recent weeks, retailers and other consumer-facing businesses warned that first-quarter sales were coming in softer than expected and the rest of the year might be tougher than Wall Street thought. Many of the executives blamed unseasonably cool weather and a ""dynamic"" macroeconomic environment, but the early days of President Donald Trump's second term have brought new challenges — perhaps none greater than trying to plan a global business at a time when his administration shifts its trade policies by the hour.Economists largely expect Trump's new tariffs on goods from China, Canada and Mexico will raise prices for consumers and dampen spending at a time when inflation remains higher than the Federal Reserve's target. In February, consumer confidence — which can help to signal how much shoppers are willing to shell out — saw the biggest drop since 2021. A separate consumer sentiment measure for March also came in worse than expected.Another sign of weakness has been in air travel. The sector, especially large international airlines, had been a bright spot following the pandemic, with consumers proving again and again that they wouldn't give up trips even in the face of the biggest jump inflation in more than four decades. This week, however, the CEOs of the four largest U.S. airlines — United, American, Delta and Southwest — said they are seeing a slowdown in demand this quarter. American, Delta and Southwest cut their first-quarter forecasts.Plus, the strong U.S. job market of recent years is showing early signs of stress as job growth slows and unemployment ticks up.These trends have thrown cold water on what was a red-hot stock market and sparked new fears about a potential recession, sending the S&P 500 tumbling 10% from its record highs in February, though it had recovered significant ground by Friday afternoon.Now, as investors and executives grow more worried about the impact tariffs will have on consumer spending and fret about an administration they had high hopes for just a few months ago, even the strongest companies are striking cautious tones as the weaker ones get even louder. Take Walmart, the retail industry's de facto leader, which has spent the last year turning an uncertain economy into fuel for growth as it courted higher-income consumers. When Walmart announced fiscal fourth-quarter earnings last month, its stock fell after it warned that profit growth would be slower than expected in the year ahead. It was a rare warning sign from a company that tends to thrive in a weaker economy, and an indication that it's expecting consumers to pull back from higher-margin discretionary goods in favor of essentials like milk and paper towels in the year ahead. ""We don't want to get out over our skis here. There's a lot of the year to play out,"" Walmart's finance chief, John David Rainey, told analysts when discussing the company's outlook. ""It's prudent to have an outlook that is somewhat measured.""Ed Bastian, chief executive of Delta Air Lines – the most profitable U.S. carrier that has reaped the rewards of big spenders in recent years – struck a similar tone after it slashed its earnings and revenue forecast for the first quarter. In an interview Monday on CNBC's ""Closing Bell,"" Bastian said that consumer confidence has weakened and that both leisure and business customers have pulled back on bookings, which led it to cut its guidance.""Consumers in a discretionary business do not like uncertainty,"" said Bastian. ""And while we do believe this will be a period of time that we pass through, it is also something that we need to understand and get to calmer waters.""To be sure, it wasn't just fewer people booking trips that led the airline to cut its first-quarter forecast. Questions about air safety compounded the problem after two major airline accidents, including Delta's own crash landing in Toronto, in which no one died.Beyond Delta, rival United said it will retire 21 aircraft early, a move that aims to cut costs.""We have also seen weakness in the demand market,"" United CEO Scott Kirby said at Tuesday's JPMorgan airline industry conference. ""It started with government. Government is 2% of our business. Government adjacent, all the other consultants and contracts that go along with that are probably another 2% to 3%. That's running down about 50% right now. So a pretty material impact in the short term.""The airline has seen some of that dynamic ""bleed over"" into the domestic leisure market, as well, Kirby added. He said the company is already looking at where it will cut flights, eyeing a big drop in traffic from Canada into the U.S. and in markets that were popular with government workers.American Airlines cut its first-quarter earnings forecast and said in addition to demand pressures, bookings were hurt after a deadly midair collision of an Army helicopter with one of its regional jets in Washington, D.C., in January.The company also felt the pullback in government travel and associated trips like those for contractors.""We know that there's some follow-on effect in terms of leisure travel associated with that as well,"" said CEO Robert Isom.Airline executives were upbeat about longer-term demand in 2025, however.Other strong companies, such as Dick's Sporting Goods, E.l.f. Beauty and Abercrombie & Fitch, also issued weak forecasts in recent weeks, though they indicated they were feeling positive about the second half of the year. ""I do think it's just a bit of an uncertain world out there right now,"" Ed Stack, chairman of Dick's Sporting Goods, told CNBC when asked about the company's guidance. ""What's going to happen from a tariff standpoint? You know, if tariffs are put in place and prices rise the way that they might, what's going to happen with the consumer?""Over the last year, companies like United, Walmart and Abercrombie have managed to outperform the S&P 500, even as shoppers reduced discretionary spending, so this change in commentary marks a major shift. It's a warning sign that shoppers could be starting to crack, and that even excellent execution is no match for tariff-induced price increases after four years of historic inflation. Meanwhile, the companies that have already spent the last year calling out uncertain consumer dynamics are sounding even more worried.""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation. Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" the CEO of Dollar General, Todd Vasos, said on the company's fourth-quarter earnings call Thursday, adding customers are expecting value and convenience ""more than ever."" The worsening consumer outlook has compounded the company's own internal challenges.""As we enter 2025,"" Vasos continued. ""We are not anticipating improvement in the macro environment, particularly for our core customer.""Elsewhere in the retail industry, American Eagle on Tuesday warned that cold weather led to a slower-than-expected start to the first quarter, but said it wasn't just temperatures. The apparel retailer specifically called out ""less robust demand"" and said it's taking steps to reduce expenses and manage inventory as it braces for what's still to come. ""[Consumers] have the fear of the unknown. Not just tariffs, not just inflation, we see the government cutting people off. They don't know how that's going to affect them. They see programs being cut, they don't know how that's going to affect them,"" said CEO Jay Schottenstein. ""And when people don't know what they don't know – they get very conservative … it makes everyone a little nervous.""",CNBC,15/03/2025,"[""It's not just Walmart."", 'The leaders of companies that serve everyone from penny-pinching grocery shoppers to first-class travelers are seeing cracks in demand, a shift after resilient consumers propped up the U.S. economy for years despite prolonged inflation.', 'On top of high interest rates and persistent inflation, CEOs are now grappling with how to handle new hurdles like on-again, off-again tariffs, mass government layoffs and worsening consumer sentiment.', 'Across earnings calls and investor presentations in recent weeks, retailers and other consumer-facing businesses warned that first-quarter sales were coming in softer than expected and the rest of the year might be tougher than Wall Street thought.', 'Many of the executives blamed unseasonably cool weather and a ""dynamic"" macroeconomic environment, but the early days of President Donald Trump\'s second term have brought new challenges — perhaps none greater than trying to plan a global business at a time when his administration shifts its trade policies by the hour.', ""Economists largely expect Trump's new tariffs on goods from China, Canada and Mexico will raise prices for consumers and dampen spending at a time when inflation remains higher than the Federal Reserve's target."", 'In February, consumer confidence — which can help to signal how much shoppers are willing to shell out — saw the biggest drop since 2021.', 'A separate consumer sentiment measure for March also came in worse than expected.', 'Another sign of weakness has been in air travel.', ""The sector, especially large international airlines, had been a bright spot following the pandemic, with consumers proving again and again that they wouldn't give up trips even in the face of the biggest jump inflation in more than four decades."", 'This week, however, the CEOs of the four largest U.S. airlines — United, American, Delta and Southwest — said they are seeing a slowdown in demand this quarter.', 'American, Delta and Southwest cut their first-quarter forecasts.', 'Plus, the strong U.S. job market of recent years is showing early signs of stress as job growth slows and unemployment ticks up.', 'These trends have thrown cold water on what was a red-hot stock market and sparked new fears about a potential recession, sending the S&P 500 tumbling 10% from its record highs in February, though it had recovered significant ground by Friday afternoon.', 'Now, as investors and executives grow more worried about the impact tariffs will have on consumer spending and fret about an administration they had high hopes for just a few months ago, even the strongest companies are striking cautious tones as the weaker ones get even louder.', ""Take Walmart, the retail industry's de facto leader, which has spent the last year turning an uncertain economy into fuel for growth as it courted higher-income consumers."", 'When Walmart announced fiscal fourth-quarter earnings last month, its stock fell after it warned that profit growth would be slower than expected in the year ahead.', ""It was a rare warning sign from a company that tends to thrive in a weaker economy, and an indication that it's expecting consumers to pull back from higher-margin discretionary goods in favor of essentials like milk and paper towels in the year ahead."", '""We don\'t want to get out over ourskishere.', 'There\'s a lot of the year to play out,"" Walmart\'s finance chief, John David Rainey, told analysts when discussing the company\'s outlook. ""', ""It'sprudentto have an outlook that is somewhat measured."", '""Ed Bastian, chief executive of Delta Air Lines – the most profitable U.S. carrier that has reaped the rewards of big spenders in recent years – struck a similar tone after it slashed its earnings and revenue forecast for the first quarter.', 'In an interview Monday on CNBC\'s ""Closing Bell,"" Bastian said that consumer confidence has weakened and that both leisure and business customers have pulled back on bookings, which led it to cut its guidance.', '""Consumers in a discretionary business do not like uncertainty,"" said Bastian. ""', 'And while we do believe this will be a period of time that we pass through, it is also something that we need to understand and get to calmer waters.', '""To be sure, it wasn\'t just fewer people booking trips that led the airline to cut its first-quarter forecast.', ""Questions about air safety compounded the problem after two major airline accidents, including Delta's own crash landing in Toronto, in which no one died."", 'Beyond Delta, rival United said it will retire 21 aircraft early, a move that aims to cut costs.', '""We have also seen weakness in the demand market,"" United CEO Scott Kirby saidat Tuesday\'s JPMorgan airline industry conference. ""', 'It started with government.', 'Government is 2% of our business.', 'Government adjacent, all the other consultants and contracts that go along with that are probably another 2% to 3%.', ""That's running down about 50% right now."", 'So a pretty material impact in the short term.', '""The airline has seen some of that dynamic ""bleed over"" into the domestic leisure market, as well, Kirby added.', 'He said the company is already looking at where it will cut flights, eyeing a big drop in traffic from Canada into the U.S. and in markets that were popular with government workers.', 'American Airlines cut its first-quarter earnings forecast and said in addition to demand pressures, bookings were hurt after a deadly midair collision of an Army helicopter with one of its regional jets in Washington, D.C., in January.', 'The company also felt the pullback in government travel and associated trips like those for contractors.', '""We know that there\'s some follow-on effect in terms of leisure travel associated with that as well,"" said CEO Robert Isom.', 'Airline executives were upbeat about longer-term demand in 2025, however.', ""Other strong companies, such as Dick's Sporting Goods, E.l.f."", 'Beauty and Abercrombie & Fitch, also issued weak forecasts in recent weeks, though they indicated they were feeling positive about the second half of the year.', '""I do think it\'s just a bit of an uncertain world out there right now,"" Ed Stack, chairman of Dick\'s Sporting Goods, told CNBC when asked about the company\'s guidance. ""', ""What's going to happen from a tariff standpoint?"", 'You know, if tariffs are put in place and prices rise the way that they might, what\'s going to happen with the consumer?""Over the last year, companies like United, Walmart and Abercrombie have managed to outperform the S&P 500, even as shoppers reduced discretionary spending, so this change in commentary marks a major shift.', ""It's a warning sign that shoppers could be starting to crack, and that even excellent execution is no match for tariff-induced price increases after four years of historic inflation."", 'Meanwhile, the companies that have already spent the last year calling out uncertain consumer dynamics are sounding even more worried.', '""Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation.', 'Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,"" the CEO of Dollar General, Todd Vasos, said on the company\'s fourth-quarter earnings call Thursday, adding customers are expecting value and convenience ""more than ever.', '""The worsening consumer outlook has compounded the company\'s own internal challenges.', '""As we enter 2025,"" Vasos continued. ""', 'We are not anticipating improvement in the macro environment, particularly for our core customer.', '""Elsewhere in the retail industry, American Eagle on Tuesday warned that cold weather led to a slower-than-expected start to the first quarter, but said it wasn\'t just temperatures.', 'The apparel retailer specifically called out ""less robust demand"" and said it\'s taking steps to reduce expenses and manage inventory as it braces for what\'s still to come.', '""[Consumers] have the fear of the unknown.', 'Not just tariffs, not just inflation, we see the government cutting people off.', ""They don't know how that's going to affect them."", 'They see programs being cut, they don\'t know how that\'s going to affect them,"" said CEO Jay Schottenstein. ""', 'And when people don\'t know what they don\'t know – they get very conservative … it makes everyone a little nervous.""']",-0.002404490490382,"Beauty and Abercrombie & Fitch, also issued weak forecasts in recent weeks, though they indicated they were feeling positive about the second half of the year.","Questions about air safety compounded the problem after two major airline accidents, including Delta's own crash landing in Toronto, in which no one died.",-0.437673362188561,"You know, if tariffs are put in place and prices rise the way that they might, what's going to happen with the consumer?""Over the last year, companies like United, Walmart and Abercrombie have managed to outperform the S&P 500, even as shoppers reduced discretionary spending, so this change in commentary marks a major shift.","Across earnings calls and investor presentations in recent weeks, retailers and other consumer-facing businesses warned that first-quarter sales were coming in softer than expected and the rest of the year might be tougher than Wall Street thought.",2025-03-22