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[ad_1] A range of retailers are again blaming shrink as one of the reasons they saw another quarter of lackluster profits. But some of those companies have started to offer more detail than ever on how much shrink, or items lost to factors like external or employee theft , damage or vendor fraud, is cutting into their bottom lines. At the same time, certain retailers pulled back on their contention that organized theft is a primary cause of losses, as scrutiny grows over claims about how much crime contributes to their struggles. During second-quarter earnings reports in August and September, nearly two dozen retailers said shrink has continued to weigh on profits. But the details each company provided, and the explanations they gave for losses, varied widely. Many of them said that shrink is at an all-time high and said the industry is struggling to control it. Still, it's difficult to compare the losses to past years because most of the companies have never previously disclo

[ad_1] Shares of Dollar Tree plunged more than 16% in intraday trading Thursday after the company fell short of Wall Street's earnings expectations for the most recent quarter and slashed its profit outlook for the full year. The stock closed about 12% lower at $136.66 a share. Here's how the discounter did in its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv: Earnings per share: $1.47, adjusted, vs. $1.52 expected  Revenue: $7.32 billion vs. $7.28 billion expected  The company's reported net income for the three-month period that ended April 29 was $299 million, or $1.35 a share, compared with $536.4 million, or $2.37 a share, a year earlier. On an adjusted basis, the company reported earnings of $1.47 per share, falling below Wall Street projections. Sales rose to $7.32 billion, up from $6.9 billion a year earlier.  Same store sales were up 4.8% compared to an expected uptick of 3.6%, according to

[ad_1] A rendering of Telesat's low earth orbit broadband constellation Telesat Shares of Canadian telecommunications satellite operator Telesat surged on Friday after the company announced it would swap suppliers for its planned Lightspeed global internet network. Canadian space company MDA will now build the Lightspeed satellites, taking the place of French-Italian manufacturer Thales Alenia Space and resulting in "total capital cost savings" of about $2 billion, Telesat announced. The company expects to begin launching the first Lightspeed satellites in mid-2026, with global service beginning once the first 156 satellites are in orbit. The full network is planned to consist of 198 satellites. Telesat stock surged as much as much as 64% with heavy volume in early trading from its previous close at $8.45 a share, before slipping slightly to closer to 50%. "I'm incredibly proud of the Telesat team for their innovative work to further optimize ... resulting

[ad_1] The rise of new anti-obesity medications could result in less alcohol consumption, impacting Club name Constellation Brands (STZ). The risk already seems to be playing out in food stocks with exposure to snacks and junk food. However, if necessary, the Mexican beer powerhouse behind Corona, Modelo and Pacifico could take action to mitigate any demand pressures. The weight-loss benefits of diabetes drugs such Novo Nordisk 's (NOVO) Ozempic and Club holding Eli Lilly 's (LLY) Mounjaro may turn out to be a headwind to not only alcohol makers — but also soda, snack food and fast-food companies. Novo Nordisk has already gotten U.S. regulatory approval for the active ingredient in Ozempic, semaglutide, to be prescribed to combat obesity. For weight loss, it's marketed under the name Wegovy. The active ingredient in Mounjaro, tirzepatide, is expected to get anti-obesity approval as soon as later this year. STZ YTD mountain STZ year-to-date performance. We don't thi

[ad_1] Jgi/jamie Grill | Tetra Images | Getty Images The Food and Drug Administration proposed new limits Tuesday on lead in baby food, in an effort to reduce exposure to a toxin that can impair childhood development. The lead limits apply to processed food consumed by children younger than two years old. In a statement, FDA Commissioner Dr. Robert Califf said the limits would reduce lead exposure from these foods by as much as 27%. The proposed lead limits are not legally binding on the industry, but the FDA said it would use them as a factor in deciding whether to take enforcement action against a company for selling contaminated food. The agency proposed the following lead concentration limits for baby food: 10 parts per billion for fruits, vegetables, yoghurts, custards and puddings, mixtures, and single ingredient meats. This would reduce exposure by 26%. 20 parts per billion for root vegetables. This would reduce exposure by 27%. 20 parts per billion for dry cereals. This wo

[ad_1] The Alzheimer's drug Leqembi is seen in this undated handout image obtained by Reuters on Jan. 20, 2023. Eisai | Reuters The new Alzheimer 's antibody treatment Leqembi could cost Medicare up to $5 billion per year, according to research published in a leading medical journal this week. Medicare would spend about $2 billion per year if around 85,700 patients test positive for the disease and are treated with the Eisai and Biogen product Leqembi, according to the research published Thursday in JAMA Internal Medicine. The program for seniors would spend $5 billion if around 216,500 patients become eligible for the breakthrough treatment, according to the study. The authors said the estimated costs to Medicare are conservative and that spending on Leqembi might increase more than anticipated depending on demand and other factors. The researchers who conducted the JAMA study included physicians and public health and policy experts. They are affiliated with the Univ

[ad_1] A sign for hire is posted on the window of a Chipotle restaurant in New York, April 29, 2022. Shannon Stapleton | Reuters Job cuts are rising at some of the biggest U.S. companies , but others are still scrambling to hire workers, the result of wild swings in consumer priorities since the Covid pandemic began three years ago. Tech giants Meta , Amazon and Microsoft , along with companies ranging from Disney to Zoom , have announced job cuts over the past few weeks. In total, U.S.-based employers cut nearly 103,000 jobs in January, the most since September 2020, according to a report released earlier this month from outplacement firm Challenger, Gray & Christmas. Meanwhile, employers added 517,000 jobs last month, nearly three times the number analysts expected. This points to a labor market that's still tight, particularly in service sectors that were hit hard earlier in the pandemic, such as restaurants and hotels. The dynamic is making it even harder to p

[ad_1] American Airlines plane Silas Stein | picture alliance | Getty Images American Airlines pilots' union said Thursday that they agreed to a sweetened offer for a new labor contract, less than two weeks after a richer deal at rival United Airlines derailed voting at American. The new preliminary agreement includes pay matching with United, whose pilots are on track to get about 40% raises over four years, and at Delta Air Lines , whose aviators approved their contract in March , as well as other improvements. American CEO Robert Isom last week increased the company's offer by about $1 billion . "We appreciate the Allied Pilots Association for its collaborative work to reach an updated agreement on a four-year contract for American's pilots," American said in a statement. "It's a contract we're proud of and one our pilots deserve." American's pilots would start voting on the new deal in August. The deal is the latest in the trans

[ad_1] A health worker prepares a flu vaccine shot before administering it to a local resident in Los Angeles, the United States, on Dec. 17, 2022. Xinhua News Agency | Getty Images People who receive Pfizer 's RSV vaccine for older adults should be monitored for Guillain-Barre syndrome, after two people developed the nervous system disorder after they received the shot, scientists said in clinical trial results published in the New England Journal of Medicine. The scientists concluded the vaccine was effective in preventing lower respiratory tract illness in adults ages 60 and older without any evident safety concerns. But they flagged the Guillain-Barre cases as a potential cause for concern moving forward. "If RSVpreF vaccine is approved and recommended, these adverse events warrant close monitoring in future studies and with real-world data and postmarketing surveillance," the scientists wrote. The study, which published Wednesday, was supported by Pfizer. Guill

[ad_1] The Alzheimer's drug Leqembi is seen in this undated handout image obtained by Reuters on January 20, 2023. Eisai | via Reuters Medicare has agreed to pay for the Alzheimer's treatment Leqembi , a major turning point for patients who are diagnosed with the early stages of the disease. Leqembi is the only drug on the market right now that has demonstrated the ability to slow the progression of early stages of Alzheimer's disease in a clinical trial. The monoclonal antibody, administered twice monthly through intravenous means, slowed cognitive decline by 27% over 18 months in the trial. Leqembi is made by Japanese drugmaker Eisai and its partner Biogen , which is based in Cambridge, Massachusetts. Medicare's decision to cover Leqembi, which came moments after the Food and Drug Administration fully approved the drug Thursday, promises to make the treatment more accessible to patients. Medicare coverage is crucial for most patients to have any hope of being

[ad_1] Two people hold two Shein bags after entering SHEIN's first physical store in Madrid, Spain, June 2, 2022. Cezaro De Luca | Europa Press | Getty Images WASHINGTON — Bipartisan lawmakers are urging the nation's top markets regulator to require Chinese fast-fashion giant Shein to disclose potential forced labor practices ahead of the company's possible initial public offering in the United States. The fast-fashion company has come under fire for accusations of mistreatment of Uyghurs, a marginalized group in China , and for allegedly falsifying reports of forced or underpaid labor of its supplier factories, some of which are located in the Xinjiang Uyghur Autonomous Region of China. The alleged practices violate the 2021 Uyghur Forced Labor Prevention Act , Reps. Jennifer Wexton, D-Va., and John Rose, R-Tenn., wrote in a letter Monday to Securities and Exchange Commission Chairman Gary Gensler. "As a global company, Shein takes visibility across our entire s

[ad_1] General view of the site of the derailment of a train carrying hazardous waste, in East Palestine, Ohio, March 2, 2023. Alan Freed | Reuters Soon after the  derailment of a Norfolk Southern  train in East Palestine, Ohio, a team of researchers began roving the small town in a Nissan van. It was February, less than three weeks after the disaster, and the van was outfitted with an instrument called a mass spectrometer, which can measure hundreds to thousands of compounds in the air every second. The team was searching for harmful levels of air pollution. At the time, a primary concern was a flammable substance called vinyl chloride, because Norfolk Southern intentionally burned off the chemical in an attempt to avoid the chance of an explosion. Some environmental health experts thought the chemical may have contributed to the  rashes, vomiting, bloody noses and bronchitis  some residents reported. But a  new study  from the team behind the research van — a group of scientist