USA Today
Peloton is recalling 2.2 million bikes due to the seat post breaking during use. The company has received 35 reports of the seat post detaching from its original bike, which led to 13 reports of injuries including a fractured wrist, lacerations and bruises, Peloton said in a news release. Dick’s Sporting Goods and online stores including Peloton and Amazon sold these bikes from January 2018 through May 2023, per the U.S. Consumer Product Safety Commission.
Chain Store Age
Trader’s Joe's took the top spot on Yelp’s first-ever “Most Loved Brands” list, followed by Nothing Bundt Cakes and Kung Fu Tea bubble tea. Other retailers that made the list included Costco, World Market, Lululemon, Total Wine & More, Insomnia Cookies, Home Goods, Nike, Target, At Home, Marshalls, David’s Bridal, Boot Barn, Nordstrom Rack and Michaels.
Chicago Tribune
Longtime deal app Groupon issued a “going concern” warning during a tepid first quarter earnings report this week, signaling the company could be insolvent within a year. "Groupon also disclosed it was terminating the lease at its massive River North headquarters next January — two years early," per the Chicago Tribune. "In 2010, Groupon moved into its headquarters at 600 W. Chicago Ave., becoming one the largest tenants at the former Montgomery Ward catalog warehouse and leasing more than 300,000 square feet through January 2026. All of the space is listed for sublease."
Supermarket News
Kroger CEO Rodney McMullen says the company's legal team is ready for a fight regarding its merger with Albertsons. "Kroger and Boise, Idaho-based Albertsons continue to work with the FTC over the merger, and McMullen said everything is on schedule," per Supermarket News. "The grocery chief also believes the best professional advisors are being used and told Bloomberg when it is all said and done a Kroger, Albertsons partnership would create a healthy environment with lower prices."
A Girl's Guide To Cars
Vietnamese automaker VinFast is coming to America. "Sold only in California right now, customers can take a test drive at one of the company’s many retail outlets," per A Girl's Guide To Cars. "VinFast is also building 28 service centers throughout the state to take care of customers after purchase, and making over the air updates to the system as needed. The company is planning to build the facilities it needs or partner with providers where necessary in the future."
CNBC
Amazon executives say they are “not concerned” about a wave of unionizing globally because the ecommerce giant has competitive pay and benefits. "The comments come amid high-profile efforts in the U.S. and U.K. from Amazon warehouse workers to form unions," per CNBC. "The efforts from unions have so far failed to galvanize a wave of unionization globally as many had hoped."
The Associated Press
Three months after Hyundai and Kia updated software that was supposed to deter thefts inspired by a viral TikTok video, thieves are still driving off with the vehicles at an alarming rate. "Data from seven U.S. cities gathered by The Associated Press shows that the number of Hyundai and Kia thefts is still growing despite the companies’ efforts to fix the glitch, which makes 8.3 million vehicles relatively easy targets for thieves," per The Associated Press.
Retail Dive
Adidas CEO Bjørn Gulden gave some insight into what the retailer plans to do with all its leftover Yeezy merchandise. “Burning the goods is not the solution. Now, talking to all the NGOs, and a lot of organizations that have been hurt by Kanye, they all say, ‘No, that’s not the solution,’” Gulden said, according to a translation of his comments provided by an Adidas spokesperson, as reported by Retail Dive. "The retailer faced pressure both at the concept of burning the products and at the concept of selling the products. Now, it appears the retailer is leaning toward the latter option, with …
Boston Globe
Gen Z couples are moving in together at record rates, and saving money is a large part of the equation. "The number of romantic couples under 24 who live together has soared since the COVID-19 pandemic began," per the Boston Globe.
USA Today
A Food and Drug Administration advisory panel is recommending the agency allow a birth control pill to be available over the counter in the United States. "The panel came to the decision after a two-day public meeting mostly centered on if people could safely and effectively take the birth control drug Opill without professional supervision," per USA Today. "Experts on the panel said they were confident they could, and the benefits of making the pill more widely available far outweigh any risks."