Etsy Inc. has forecasted lower-than-expected revenue for the third quarter, signaling a softening in demand for handcrafted goods on its online marketplace. The rise in prices of essential goods has led consumers to reduce spending on discretionary items, including higher-margin home furnishing goods and personalized products sold on Etsy’s platform. The company’s consolidated gross merchandise…
DoorDash has raised its annual core profit forecast for the second time and reported upbeat quarterly revenue due to increased demand for groceries and food orders. The delivery firm’s revenue reached its highest level since its IPO in December 2020, as people continue to buy from home even after the pandemic, attracted by promotions, deals,…
Toymaker Mattel is seeking a “chief Uno player” to promote its new game, Uno Quatro, and is offering a payment of $17,776 for a total of 64 hours of work. The job involves starring in social media content, teaching the game to others, and playing with influencers in New York City. The selected candidate will…
Starbucks executives reported that a higher number of customers are ordering food along with their drinks, with two in every five customers adding food to their orders. Breakfast sandwich sales hit a record high, surpassing a previous record set in the prior quarter. The company sees significant opportunities in food offerings and has introduced new…
The Biden administration has completed the phase-out of incandescent light bulbs, a process that began with the Energy Independence and Security Act in 2007. The final stage of the rollout ended, requiring retailers to enforce the ban on incandescent and halogen bulbs, while encouraging the sale of more energy-efficient options. This move is expected to…
Amazon is expanding its virtual healthcare clinic to all 50 U.S. states, providing customers with access to virtual care for more than 30 common health concerns, including urinary tract infections, pink eye, and erectile dysfunction. The service connects users to licensed clinicians who offer 24/7 access through Amazon’s website and mobile app, supporting both message-based…
Major advertisers, including Procter & Gamble (P&G), L’Oréal, Unilever, Kimberly-Clark Corp., Nestlé, and Hershey Co., are increasing their ad spend after preparing for a recession that did not occur. P&G reported an 8% increase in organic sales growth after raising its ad spend by $453 million last quarter. The growth in ad spend and improved…
Yum Brands reported strong quarterly results, with KFC’s comparable sales surging 13% and beating estimates, driven by the popularity of cheaper meal options and promotions, such as the 2-for-$5 fried chicken wrap and chicken nuggets. The company’s lower-priced offerings have appealed to both younger and low-income customers, boosting sales and drawing diners away from higher-priced…
Retailers like Macy’s and Columbia Sportswear are embracing “cooling” and “breathable” fabrics in response to rising temperatures and increased demand for clothing that can provide relief from the heat. Companies such as VF Corp and Reformation are incorporating Tencel, a lyocell fiber known for its absorbent qualities, into their warm-weather styles. Additionally, advanced “active cooling”…
Amazon.com has announced plans to invest approximately $7.2 billion in Israel by 2037 and has launched its Amazon Web Services (AWS) data centers in the country. The AWS cloud services will allow the Israeli government to run applications and store data locally, contributing to the country’s digital transformation in the public sector. With this expansion,…
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