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[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] FanDuel CEO Amy Howe stands out in a crowd — in spite of her slight stature. In a room full of executives in the sports or gambling industries, she's often one of very few women. But Howe has the spotlight, and a megaphone, as the chief executive of the nation's market leader in sports betting. FanDuel announced this week that during the fourth quarter it increased its market share to 50% of legal sports betting in the U.S. Howe joined Caesars CEO Tom Reeg and New England Patriots President Jonathan Kraft at the MIT Sloan Sports Analytics conference this week to discuss the deepening relationship between the betting and sports industries, the need for better technology to acquire and keep customers, and the competitive landscape. Howe's gender never came up. But in many conversations — off the stage and behind the scenes — it's clear Howe stands as a role model to other women in sports and gambling. And here, she keeps good company. Renie Anderson is execut

[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] Buy Buy Baby's stores are set to disappear after a last ditch effort to save the chain and keep the business alive fell apart, CNBC has learned.  Brand management firm Go Global Retail, which owns children's apparel company Janie and Jack, was eager to buy the beloved Bed Bath & Beyond chain and keep it running, but ultimately couldn't reach an agreement on valuation, the firm's CEO Jeff Streader told CNBC.  Lender Sixth Street Partners, Bed Bath & Beyond's lead creditor, determined it could recover more of its losses than what Go Global was willing to offer by selling Buy Buy Baby's intellectual property, auctioning off its leases and moving ahead with liquidation sales.  Dream on Me Industries, a little-known New Jersey-based retailer and one of Buy Buy Baby's former suppliers, won the chain's trademark and digital assets for $15.5 million after Bed Bath & Beyond failed to receive any higher bids.  Go Global believed there wa

[ad_1] Major League Pickleball is getting new leadership as it looks to capitalize on the rise of America's fastest-growing sport at the professional level. The team-based pro pickleball league announced Wednesday it has named finance and media executive Julio DePietro as its chief executive officer and former NFL executive Bruce Popko as chief operating officer. "The additions of Julio and Bruce signify another landmark step forward in the evolution of Major League Pickleball," said MLP founder Steve Kuhn. DePietro and Popko will be tasked with steering the league at a time when the sport of pickleball has seen explosive growth at the amateur level. "We're pretty confident that we have both the platform and the product. We're at just the beginning of this hockey-stick growth," DePietro told CNBC. DePietro was formerly a partner at Citadel, where he worked alongside Kuhn for many years. In 2022, he purchased a stake in the Florida Smash MLP team, c

[ad_1] Restaurateur Danny Meyer doesn't think customers need to tip when they pick up takeout or buy coffee. "If you're just taking out food, and it was just a transaction — I give you money, you give me a cup of coffee — I don't think there's any obligation to tip whatsoever," Meyer said on CNBC's "Squawk Box" on Thursday. Meyer founded Shake Shack and serves as chair of its board. The burger chain added tipping to its restaurants last year. He also founded Union Square Hospitality Group, which mostly operates full-service restaurants. The company's eateries include Union Square Cafe, Gramercy Tavern and fast-casual chain Daily Provisions. As more businesses adopt Square's and Toast's point-of-sale systems, customers are getting more used to being prompted to tip as they pay. But some leave feeling overcharged or confused about how much they should tip. CEO of Shake Shack Randy Garutti (Left) and founder and Chairman Danny Mey

[ad_1] 2024 Chevrolet Silverado HD ZR2 GM DETROIT – General Motors' U.S. vehicle sales increased by 18.8% in the second quarter compared with subdued results a year ago when the automaker was battling supply chain issues. The Detroit automaker reported sales Wednesday of 691,978 new vehicles from April through June. That compared with 582,401 vehicles during the second quarter of 2022. It also is a sequential increase compared with GM's first-quarter sales of just over 600,000 new cars and trucks. GM's second-quarter sales, along with those of other automakers such as Honda Motor, Nissan Motor and Stellantis, indicate demand for new vehicles remains strong as inventories of cars and trucks improve from historically low levels during the coronavirus pandemic and supply chain problems. Auto industry forecasters project U.S. new vehicle sales to have increased 16% to 18% during the second quarter compared with a year earlier. Cox Automotive recently increased its full

[ad_1] Jenny Craig is being revived for e-commerce in the coming months by the maker of a rival weight-loss meal provider that bought the defunct company's brand assets out of bankruptcy. Wellful Inc., a direct-to-consumer wellness business that also owns Nutrisystem, said it had acquired rights to Jenny Craig's intellectual property for an undisclosed amount. Court documents dated June 2 show the IP priced at up to $10 million. "People that have known the Jenny brand — the core aspects around the great food, the coaching, the overall program and the success they previously had — they can expect again," Wellful CEO Brandon Adcock said in an interview. Jenny Craig's website  has teased a reboot in recent weeks, saying it "will be coming to your home this fall." Adcock said all former Jenny Craig customers have been notified by email and in the brand's Facebook groups about the relaunch. "Our goal is just treat them as best we can to win back

[ad_1] A Burlington and a Bed Bath & Beyond store. Getty Images Bed Bath & Beyond locations across America will soon be replaced by Burlington Stores outposts and a range of other businesses, after the failed home goods retailer auctioned off its leases as part of its bankruptcy proceedings , court records show.  The doomed big-box store selected bidders for 109 of its leases after a Monday auction. Off-price giant Burlington agreed to take over 44 of the locations for $12 million, the largest share of the leases, records filed late Tuesday show.  Burlington secured six more leases for $1.53 million outside the auction process, bringing the total number of locations to 50 for $13.53 million, records show.  Many of the locations are considered "top notch," said Bill Read, executive vice president of commercial real estate firm Retail Specialists. The firm provides retailers in growth mode an opportunity to snag leases in prime locations amid a dearth of quality