Bebe said it expects “to close all of the stores by the end of May,” according to a filing the Brisbane, Calif., firm made this week with the Securities and Exchange Commission.
The layoffs span the company’s international, technology and Sam’s Club divisions. They follow Wal-Mart’s decision to eliminate some 1,000 corporate positions earlier this year, including 200 in its e-commerce division.
A spokesman for the retailer confirmed the job cuts to CNBC, which had originally been reported by Dow Jones.
Revenue neutral: “How much will that tax plan cost?” is just another way of asking whether the overall plan will raise less revenue than the current tax code, more revenue or the same amount.
Republicans and the White House may have a hard time muscling through a full tax code overhaul this year. But there will be plenty of debates and mudslinging over tax reform while they try.
And all those rhetorical talkfests will be peppered with tax and legislative jargon. Lots of it.
Tesla’s usurping of GM and Ford will undoubtedly spur debate over the relative value of Musk’s company compared with some of the world’s top-selling automakers. GM expects to earn more than $9 billion this year and analysts predict Ford will generate adjusted profit of about $6.3 billion. On that basis, Tesla is expected to lose more than $950 million.
This post is part of the On the Margin blog.
On Monday, Bloomberg reported that Panera Bread Co. might put itself up for sale after receiving interest from a potential buyer. The news sent the company’s stock price skyrocketing.
As I wrote about several weeks ago now, 2017 is going to be a huge year for mergers and acquisitions —
Jonathan Maze, Nation’s Restaurant News senior financial editor, does not directly own stock or interest in a restaurant company.
Contact Jonathan Maze at firstname.lastname@example.org
Follow him on Twitter: @jonathanmaze
Read Source: Ranking Panera Bread’s potential suitors
Of the nation’s 20 largest cities, three reached their all-time highs in January: Seattle, Portland, and Denver. And 12 cities reported greater price increases in the year ending January 2017 versus the year ending December 2016, the report said.
Wal-Mart Stores Inc. has been on an e-commerce apparel acquisition tear, purchasing sites like ModCloth, MooseJaw and ShoeBuy in recent weeks. The purchases aren’t just part of an apparel effort at Wal-Mart, but an effort to compete with, and fend off, Amazon.com Inc., which is also making a push in the apparel arena.
Amazon AMZN, -0.21% has been adding private label brands at a pace as robust as Wal-Mart’s WMT, -0.36% acquisitions. By KeyBanc Capital Markets’ count, Amazon has at least 14 private-label apparel brands in the U.S. and U.K., nine for Prime members exclusively. Analysts there estimate that the e-commerce giant has a $14 billion-plus apparel business.
About 17,000 AT&T wireline technicians and call center employees went on strike in California and Nevada today while filing an unfair labor charge to the National Labor Relations Board (NLRB) alleging that AT&T violated federal law.
“The company has shown disrespect to the bargaining process by changing the work assignments of workers without bargaining as required by federal law,” the Communications Workers of America (CWA) union said in its strike announcement. “Further, AT&T reneged on an agreement to resolve the dispute without any explanation.”
The CWA said that AT&T “is asking its workers to do more for less—keeping them from their families with unpredictable overtime, undercutting pay and advancement, offshoring good jobs, and pushing more health care costs onto employees.”
Kudos to Sears Holdings Corp. (SHLD) for finally admitting what everyone already knew: it’s almost dead.
As TheStreet broke the news on Twitter Tuesday evening, Sears indicated in its newly filed annual report that “substantial doubt exists related to the company’s ability to continue as a going concern.” For those clickbait-loving headline writers out there with no financial services training: what Sears essentially said is that yes, it’s unsure if it could stay in business. Well, duh.
Sears’ cash position has melted from a high point of $1.7 billion for the 2009 calendar year to a mere $286 million to close out 2016. Revenue hasn’t grown since the credit boom lifted all ships in retail in 2006. The company hasn’t generated cash flow from its operations since 2006.