A massive grocery chain is now bumping its wage up to $19, a figure that has increased nearly 30% in the past five years.
In a recent press statement, Sam’s Club emphasized its commitment to supporting its workforce, announcing plans to accelerate pay for nearly 100,000 frontline associates and provide a clear “roadmap” for employee career planning.
Sam’s Club will bump its starting wage to $16 and accelerate pay increases for nearly 100,000 front-line workers, Chris Nicholas, president and CEO, said in a Sept. 17 statement.
Employees’ average hourly rate will be around $19 — a figure that has increased nearly 30% in the past five years, a company statement said.
The company described this initiative as part of a broader strategy involving ongoing investments aimed at creating more meaningful job opportunities and fostering successful teams.
“As competition in the retail sector intensifies, attracting, hiring, and especially retaining quality talent has become a significant competitive advantage,” Sam’s Club stated.
They further highlighted that providing “good jobs” and “fulfilling careers” leads to a more engaged and productive workforce.
Diana Scott, leader of The Conference Board’s U.S. Human Capital Center, noted the importance of increased compensation for companies looking to stay competitive.
“Given the fluctuating market conditions, leaders are increasingly employing compensation strategies that extend beyond base pay, including performance-based initiatives and other strategic priorities,” Scott explained.
This focus on employee support and compensation reflects Sam’s Club’s recognition of the vital role that a dedicated workforce plays in achieving business success.
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A massive shoe company now opens two stores in California to “elevate retail” and to “engage with the diverse communities”.
Adidas is strengthening its presence in Los Angeles by opening two flagship stores in recent weeks, showcasing its commitment to the local community.
The German athletic brand has launched new locations in West Hollywood and downtown Los Angeles, aiming to serve as both retail hubs and cultural centers that embody creativity, inclusion, and sustainability.
The West Hollywood store, opened in August, is situated at 8428 Melrose Avenue and spans 5,390 square feet.
It features a curated selection of sought-after collections, including Y-3, Stella McCartney, and Adidas Originals, along with performance products tailored to local tastes.
Designed by Adidas’ in-house creative team, the store boasts a sleek, minimalist aesthetic infused with the vibrant energy of Los Angeles.
Its layout includes two distinct areas and “The Lab,” which highlights the brand’s stories and collaborations.
In contrast, the downtown Los Angeles store, which opened on September 12, focuses on the Adidas Originals line and pays homage to the city’s heritage while incorporating modern design elements.
Located at 761 S. Broadway, this two-level store will serve as a community hub, hosting workshops, events, and collaborations with local artists.
The architectural revival beautifully merges historic elements with Adidas’ signature blue branding.
“Los Angeles is a center for culture and a global destination for sports, arts, and entertainment,” said John Miller, president of Adidas North America.
“The city inspires our brand to innovate and create products that resonate with the diverse lifestyles of our consumers.”
These new openings reinforce Adidas’ mission to elevate retail and connect with the diverse communities of Los Angeles.
As part of its long-term strategy, Adidas is developing a new creative division within Adidas Originals called “OG L.A.”
This initiative aims to nurture local talent and highlight contributions to the city’s unique sports and lifestyle culture.
Miller emphasized, “The new flagship stores reflect our deep commitment to the city and its dynamic communities, blending creativity, performance, and sustainability to offer products and experiences that resonate with the culture of Los Angeles.”
These developments align with Adidas’ broader strategy to enhance its U.S. business.
In a recent interview, CEO Bjørn Gulden stressed the importance of connecting with the men’s market and urban consumers, stating, “To be a successful business in America, we need to be ‘more American’ and tailor our approach to fit local markets.”
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Market News Today – A Massive Shoe Company Now Opens Two Stores in California.
Michael Jordan’sFlu Game sneaker is now on the way according to sources who confirm the memorable footwear is back.
The anticipation surrounding upcoming Air Jordan releases continues to grow, with reports confirming the return of one of Michael Jordan’s most iconic sneakers—the Air Jordan 12 “Flu Game.”
This highly celebrated sneaker is expected to rerelease in spring 2025, adding to the storied history of the Air Jordan line.
The “Flu Game” is famed for its association with Game 5 of the 1997 NBA Finals, where the Chicago Bulls narrowly defeated the Utah Jazz 90-88, taking a 3-2 series lead.
Michael Jordan, battling flu-like symptoms, played a nearly full game despite his illness.
Speculations about food poisoning circulated, but that didn’t hinder his performance; he scored 38 points, including a crucial three-pointer in the final moments.
This legendary display is regarded as one of the greatest moments in NBA history, and the sneakers he wore during that game have similarly earned acclaim.
Originally released in 1997, the Air Jordan 12 “Flu Game” features a striking black-and-red tumbled leather upper.
It saw its first retro release in 2003, followed by a special version in 2009 that used black suede and included nods to Jordan’s memorable performance.
The sneaker’s last appearance in its original form was in 2016.
In addition to the “Flu Game,” other notable Air Jordan 12 releases are on the horizon, including the “Barons” and “Blueberry” styles, along with a return of the classic “Taxi” version in 2025.
According to sneaker insider @zsneakerheadz, the Air Jordan 12 Retro “Flu Game” will be available in full family sizing during its spring release.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Michael Jordan’sFlu Game sneaker is now on the way according to sources who confirm the memorable footwear is back.
The anticipation surrounding upcoming Air Jordan releases continues to grow, with reports confirming the return of one of Michael Jordan’s most iconic sneakers—the Air Jordan 12 “Flu Game.”
This highly celebrated sneaker is expected to rerelease in spring 2025, adding to the storied history of the Air Jordan line.
The “Flu Game” is famed for its association with Game 5 of the 1997 NBA Finals, where the Chicago Bulls narrowly defeated the Utah Jazz 90-88, taking a 3-2 series lead.
Michael Jordan, battling flu-like symptoms, played a nearly full game despite his illness.
Speculations about food poisoning circulated, but that didn’t hinder his performance; he scored 38 points, including a crucial three-pointer in the final moments.
This legendary display is regarded as one of the greatest moments in NBA history, and the sneakers he wore during that game have similarly earned acclaim.
Originally released in 1997, the Air Jordan 12 “Flu Game” features a striking black-and-red tumbled leather upper.
It saw its first retro release in 2003, followed by a special version in 2009 that used black suede and included nods to Jordan’s memorable performance.
The sneaker’s last appearance in its original form was in 2016.
In addition to the “Flu Game,” other notable Air Jordan 12 releases are on the horizon, including the “Barons” and “Blueberry” styles, along with a return of the classic “Taxi” version in 2025.
According to sneaker insider @zsneakerheadz, the Air Jordan 12 Retro “Flu Game” will be available in full family sizing during its spring release.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Movie theatres will now invest $2.2 billion in massive upgrades over a span of three years to drive moviegoers out of their homes.
Movie theaters such as AMC Entertainment, Regal, and Cinemark are aiming to provide a more ‘premium’ movie experience.
North American movie exhibitors are planning to invest $2.2 billion in theater upgrades over the next three years, aiming to capitalize on the resurgence of Hollywood’s box office this year.
The National Association of Theatre Owners (NATO) announced this significant investment on Thursday, highlighting the ongoing efforts to attract audiences back to cinemas after successful releases like Inside Out 2, Deadpool & Wolverine, Bad Boys: Ride or Die, It Ends With Us, and Despicable Me 4.
NATO president and CEO Michael O’Leary noted the fierce competition for consumers’ spending, stating, “Movie fans of all ages love heading to the local theatre to see great movies on the big screen.
But the competition for their hard-earned dollars is fiercer than ever.”
This investment is seen as a response to the challenges posed by streaming services that have changed viewing habits, reports Hollywood Reporter.
The planned upgrades come as the exhibition industry aims to overcome lingering effects from the pandemic and recent strikes, with a steady lineup of major films expected through 2025.
O’Leary emphasized the importance of creating memorable experiences for moviegoers, saying, “Going to the theatre is an unparalleled entertainment experience, and this investment reflects that commitment in a tangible way that every moviegoer will see and enjoy.”
The funding will be distributed among eight cinema chains, including AMC Entertainment, Regal Cinemas, Cinemark, Cineplex, Marcus Theatres, B&B Theatres, Harkins Theatres, and Santikos Entertainment.
Collectively, these chains operate over 21,000 screens and account for more than two-thirds of the North American box office.
The upgrades will focus on enhancing the viewing experience with laser projection technology, immersive sound systems, improved food and beverage options, and even adding amenities like arcades and bowling.
Additionally, theaters will see improvements in air conditioning, lighting, signage, and carpeting.
As the industry continues to rebound, these enhancements are designed to ensure that patrons enjoy the best possible experience when they choose to visit their local theaters.
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AMC Entertainment (NYSE:AMC) stock closed down 2.22% on Monday with shares falling more than 20% this year-to-date.
This year the S&P Globalraised AMC’s rating to CCC from SD — selective default — but says the company is ‘unsustainable’.
Despite the company’s tough critics hammering the business down, the box office continues to hit it big.
For example, Beetlejuice earned a whopping $150 million worldwide and more than $117 million in domestic revenue during its opening weekend, per IMDB.
The highly anticipated sequel to Tim Burton’s original film, “Beetlejuice Beetlejuice,” has achieved an impressive opening weekend, ranking as the third-best of the year, trailing only behind major hits “Inside Out 2” and “Deadpool & Wolverine.”
Estimated ticket sales for the weekend (Friday through Sunday) at U.S. and Canadian theaters were as follows:
“Beetlejuice Beetlejuice” – $110 million
“Deadpool & Wolverine” – $7.2 million
“Reagan” – $5.2 million
“Alien: Romulus” – $3.9 million
“It Ends With Us” – $3.8 million
“The Forge” – $2.9 million
“Twisters” – $2.3 million
“Blink Twice” – $2.1 million
“The Greatest of All Time” – $2 million
“Despicable Me 4” – $1.8 million
Final domestic figures will be released on Monday.
While the company may have its challenges, it has also recovered significantly from where it once stood.
Combined with the massive support from its loyal fan base and investors, AMC Entertainment seems to have no problems keeping up.
The “box office is making a come back”, said Adam Aron during the Q2 earnings call.
AMC Entertainment was able to secure $770 million in cash equivalents and expressed their optimism moving forward.
So, why is AMC’s short interest going up again?
The company stock continues to be shorted — Fintel is currently reporting more than 1 million short shares were available on Monday.
What does this mean for the investor?
Is it too early to call another short squeeze?
Only time will tell — and I’ll certainly be keeping an eye out on the data and looking at the stock’s performance and trends.
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This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Best Buy now announces more painful stores closures coming soon after it already shuttered dozens of locations this year.
Best Buy has announced the closure of another location, following a series of shutdowns last year, with additional closures anticipated in 2025.
The consumer electronics retailer confirmed that it closed 24 stores in 2023 and indicated that 10 to 15 more locations will likely shut down in 2024, with a similar number expected in 2025.
This means that over 25 stores could potentially close by the end of 2025.
CEO Corie Barry noted that the company is working to balance its workforce with shifting consumer interests.
CFO Matthew Bilunas added that Best Buy would continue to evaluate its traditional store locations as leases come up for renewal.
The closures are attributed to several factors, including changes in consumer spending habits, inflation, and lingering supply chain issues from the COVID-19 pandemic.
Recently closed locations include stores in California, Colorado, Ohio, Minnesota, Missouri, and Virginia, with a new closure in Gaithersburg, Maryland, set for October 26.
The Gaithersburg store, which opened in the 1990s, is one of approximately 100 locations that have shut down in the past five years.
Best Buy currently operates 1,053 stores, according to its website.
Financial performance has also been a concern, with Best Buy reporting a revenue drop from $9.6 billion to $9.3 billion in the second quarter compared to the same period in 2023.
The company experienced an overall revenue decline of 6% last year.
Barry emphasized that Best Buy is adapting to new consumer behaviors, including a focus on value during sales and willingness to invest in higher-priced technology when necessary.
Despite the challenges, she expressed confidence in the company’s future, stating that there are no indicators suggesting a significant shift in customer behavior.
In addition to store closures in the U.S., Best Buy is expanding in Canada, partnering with Bell Canada to open 167 Express stores by the end of the year.
These smaller locations will feature a curated selection of technology products and will offer in-store pickup for online orders, along with Geek Squad services.
As Best Buy navigates these changes, it continues to face scrutiny over its return policy, with some customers finding ways to circumvent perceived restrictions, while others are eager to snag deals on items like a $149 4K TV before promotions expire.
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Market News Today – Best Buy Now Announces More Painful Store Closures Coming.
A massive rental company with 34k locations now shuts down its operations after filing for bankruptcy and 22 years in business.
Users of movie rental company Redbox were left saddened after it was announced that it would be shutting down operations.
The announcement comes after the rental company’s parent company, Chicken Soup for the Soul Entertainment, filed for Chapter 11 bankruptcy.
According to court documents obtained by the Washington Post, the Connecticut-based company claimed to be one billion dollars in debt.
As a result, Redbox, which was a staple of many grocery stores including Walgreens, and CVS will be shuttered.
Many fans took to social media to express how upset they were with the loss.
“I knew it was coming, sadly,”UltraVada wrote in a post on X, formerly Twitter.
“It was inevitable,” a second person mourned.
“I knew this would happen when I heard they filed for Bankruptcy but its still sad to hear. I have a lot of fun memories of Redbox,” a third person lamented.
“I still don’t think this will be or ever be the end of physical media as we do still get remasters of some movies in 4k/Bluray.”
One person revealed that they had forgotten the rental service had existed.
Some users were not surprised by the announcement.
“Not surprised since nobody really rents videos anymore with the rise of streaming and what not,” one user admitted.
“Also kinda remember getting into a feud with them on here.”
One user also pointed out that the last remaining Blockbuster, located in Bend, Oregon, managed to outlive Redbox.
Redbox was acquired by Chicken Soup for the Soul Entertainment (CSSE) in 2022 and became one of the company’s flagship video-on-demand streaming services.
At its peak, CSSE operated more than 20,000 DVD rental kiosks across the country.
The company’s filing means that the company’s more than 1,000 employees will be laid off, per The Wall Street Journal.
It was also reported by Deadline that many employees at CSSE hadn’t received their paychecks and had medical benefits cut in late June.
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