Wall Street Journal
The family-run company has been investing heavily as it tries to outrun the forces battering the industry. It is revamping some of its 122 department stores and spending more than $500 million to gain a toehold in Manhattan. It has snapped up e-commerce companies including flash-sale website HauteLook and subscription service Trunk Club. And it has launched new concepts.
Fast Company
With the launch of the 2018 edition of its iconic franchise, the Swimsuit Edition, SI is taking its tech game to its next level–introducing a group of virtual reality and augmented reality features that bring fans of the issue closer than ever to the action. For the last year or so, SI has been experimenting with VR and AR.
Reuters
Uber Technologies Inc narrowed its fourth-quarter loss to $1.1 billion from a loss of $1.46 billion in the previous quarter, a person familiar with the matter told Reuters. The ride-hailing company’s quarterly revenue rose 11.8 percent to $2.2 billion from its previous quarter, the source said.
Fortune
The bulk retailer says that most of the items it sells online will qualify and that there will be no minimum order size for customers who have a “Plus” membership, which costs $100 annually. Exceptions will include merchandise that is only available for curbside pickup such as fresh and frozen food, bulk items, and products sent directly to customers by a third party.
New York Post
The February event, which ends on Wednesday, will host a record low number of shows — down 19% from 2016, to 118 — as a growing number of designers pass it by. This year, big-name designers including Proenza, Rodarte, Altuzarra and Thom Browne opted to show at a fashion week in another city.
Los Angeles Times
Mattel Inc. is launching the new card game Dos next month in hopes of giving its nearly 50-year-old Uno brand a second life. Dos's rules are similar to Uno's, except players make two piles of cards and can throw down two cards at a time instead of one. It comes as Mattel tries to turn its business around, mainly by updating classic brands, such as Barbie dolls and Hot Wheels cars.
CNN Money
American audiences won't see any Olympics-themed McDonald's television advertisements during this year's Games. It also means the 2018 Pyeongchang Olympics will be the last to feature McDonald's restaurants in the Olympic Park and Village. The fast food giant announced in June that it would end a decades-long partnership with the International Olympic Committee.
Wall Street Journal
Kraft Heinz is grappling with a problem that can’t be solved by increasing efficiency: U.S. sales of cold cuts and other processed meats slipped to $21.3 billion last year, from $21.9 billion in 2015. Oscar Mayer’s market share dropped to 17.5% from 18% five years ago, according to Euromonitor. Natural and organic brands, as well as small labels buying from local farms, have nibbled away at sales.
Bloomberg
Remington Outdoor Co., which traces its history back to 1816, said it would file for bankruptcy protection, succumbing to a slump in business worsened by, of all things, a president who has steadfastly supported Americans’ right to bear arms. The bankruptcy is a blow to the private-equity mogul Stephen Feinberg, who has been a prominent supporter of President Donald Trump.
eTurboNews
Japan has taken three of the top spots as Kyoto makes an entry for the first time and Osaka moves up from 9th place in 2016 to 3rd top destination for Chinese New Year 2018. City escapes have dominated the rankings with only one beach destination — Phuket, Thailand — making the top ten.