The wobbly bricks-and mortar sector took another hit broadside yesterday as The Bon-Ton Stores announced that its third quarter comparable store sales decreased 6.6% and it will be closing 40 stores in the coming year, although it did not specify where or which ones.
Richard Cordray, the former Ohio treasurer and attorney general who has served as the only director of the Consumer Financial Protection Bureau, announced yesterday that he'd step down by the end of the month, "clearing the way for President Trump to remake a watchdog agency loathed by Republicans and Wall Street" as Renae Merle puts it in the "Washington Post."
Super Mario will be bringing his wrenches and magical brand of justice to the big screen if a deal being discussed by Nintendo and animation studio Illumination Entertainment gets signed.
As jarring as new chairman and CEO John Flannery's plans to shake up and reenergize General Electric may be, apparently Wall Street isn't buying it. At least, not yet.
Mattel's stock "continues to surge" this morning following unconfirmed reports Friday that Hasbro had made an offer to - depending on who you read - forge a working relationship between Barbie and a bunch of toys that traditionally appeal mostly to boys, such as G.I. Joe and the Transformers. Its "shares are set to open at a three-month high Monday after a 22% surge in pre-market trading that followed multiple media reports of a takeover approach," writes Martin Baccardax for "The Street."
Now that Peugeot-owner PSA Group has its hands on the Opel and Vauxhall steering wheels, it intends to drive the brands to a destination that former-owner General Motors had a hard time locating on its GPS: profitability. It also says it will have four electric vehicles of the road by 2020 and that all of its car lines will offer electrified versions by 2024.
Au Bon Pain, which was sold by founders Ron Shaich and Louis Kane in 1999 so that they could better focus on building Panera Bread, was reacquired by the company yesterday. Panera also announced that Blaine Hurst, who joined St. Louis-based Panera in 2011 as SVP of technology and transformation and was named president last December, will replace Shaich as CEO on Jan. 1.
After a uncharacteristic show of solidarity among the nation's critics and entertainment writers that threatened the efficacy of its formidable publicity machine, the Walt Disney Co. yesterday abruptly withdrew its ban of "Los Angeles Times" writers from preview screenings of Disney films.
CVS Caremark will roll out free same-day prescription delivery service in Manhattan on December 4 and will extend it to its stores in Miami, Boston, Philadelphia, Washington, D.C., and San Francisco metro areas early next year. It intends to offer next-day delivery service to customers of all of its 9,700 stores by the end of 2018.
After courting each other for longer than Robin Hood and Maid Marian, Sprint and T-Mobile called off merger talks over the weekend, citing their inability "to find mutually agreeable terms." A combined company would have had more than 130 million U.S. subscribers, behind Verizon and AT&T, point out Reuters's Liana B. Baker and Anjali Athavaley.