Longtime Victoria's Secret CEO Sharen Jester Turney resigned Friday and Leslie Wexner, the 78-year-old founder, CEO and chairman of parent company L Brands, assumed her responsibilities. Wall Street did not view the surprise announcement kindly; L Brands was down 2.5% on the news
Uber has agreed to pay $28.5 million to riders to settle two class-action suits challenging its safety claims and, as part of the agreement, will be changing the language it uses in its marketing so that it is "clear and precise."
In perhaps its most sure-fire menu introduction since sliced buns, Burger King yesterday announced that after 18 months of market testing, it is permanently bringing two types of grilled all-beef hot dogs to its 7,150 restaurants nationwide. The "flame-grilled" dogs will be available everywhere Feb. 23 in two varieties: a classic version with ketchup, mustard, onions, and relish at a suggested retail price of $1.99, and a chili cheese version for $2.39.
Red Lobster yesterday said that sales spiked 33% over the previous Super Bowl Sunday in the wake of Beyonce's "sexually charged" mention of the restaurant in a single and YouTube video released Saturday prior to her appearance on the half-time show the next day. But that good news was tempered by the hammering the chain took in social media for its delayed, and then half-baked, response to the more than 300,000 tweets it generated.
Chipotle Mexican Grill shut all its more than 2,000 outlets nationwide for four hours at lunchtime yesterday as co-CEOs Steve Ells and Monty Moran led a pep rally cum apologia from a studio in Denver, where the company is based, that was broadcast to about 50,000 employees at more than 400 theaters and conference centers across the country.
Hyundai was in top gear for the Super Bowl, speeding away with top honors in "USA Today"'s Ad Meter competition for its spot featuring comedian Kevin Hart as an overprotective dad who gives the keys of his new car to a young man taking his daughter out on a "First Date." He then stalks their every move with the Car Finder app installed in the Genesis and on his smart watch.
Hold onto your $1,295 clutches: Burberry this morning announced two changes in the way it does business that the "New York Times" tells us is "perhaps the biggest shake-up of the fashion show system since ready-to-wear took to the catwalk."
Bob Elliott, half of the comedic Bob and Ray team and a deadpan skewer of both Madison Ave. and the media it supported - and that also supported them - died of throat cancer at 92 Tuesday in his home in Cundy's Harbor, Maine.
If you thought that bricks-and-mortar bookstore Amazon opened in Seattle's University Village mall last November was just an experiment to see how the other half used to live, ponder anew. The online retailer is said to have plans to expand into other malls, with one estimate of the number of storefronts running as high as 400 but other reports saying the plans are more "modest." At best.
All the Ts were crossed for Alphabet in the fourth quarter ending Dec. 31, according to results released yesterday. Profits jumped 5% over the same period in 2014, boosting year-end revenue 18% to a record $21.3 billion. The Mountain View, Calif.-based company snatched the "world's most valuable company" title from Apple as investors reacted to the news in after-hours trading.