Big Lots, a discount retailer specializing in home goods, recently filed for bankruptcy as a result of high interest rates and a sluggish housing market. The company’s revenue has been on a downward trend, with sales dropping significantly after the pandemic-induced demand for home furnishings decreased. This decline in demand has led to Big Lots
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Boeing’s Starliner recently undocked from the International Space Station, marking the end of a troubled test flight that was plagued with delays and unexpected complications. Originally, the spacecraft was supposed to depart much earlier, but due to various issues, the departure was delayed for months. The two NASA test pilots, Butch Wilmore and Suni Williams,
Automakers are once again leaning into advertising during the National Football League (NFL) season after a period of reduced spending in recent years. With Toyota Motor Corporation, Hyundai Motor Company, and the Detroit automakers leading the charge, the NFL and its games are set to become the main advertising platforms in the upcoming months. Toyota,
An activist investor, Starboard Value, has recently taken steps to dissolve News Corp’s dual-class share structure, marking a significant challenge to the long-standing control of the Murdoch family over the media giant. This move, made through a non-binding shareholder resolution, has raised eyebrows in the financial world. As of September, Rupert Murdoch had control over
The Green Bay Packers have a one-of-a-kind ownership structure that sets them apart from the rest of the National Football League. As the 12th most valuable NFL franchise at $6.3 billion, the Packers are the only team that operates as a publicly owned entity in the four major North American professional sports leagues. Established over
The latest research from CNBC has unveiled the official NFL Team Valuations, ranking professional football teams based on their overall franchise value. Calculated by CNBC senior sports reporter Michael Ozanian, these rankings take into account a team’s revenue, profit, and debt to give a comprehensive look at the financial status of the 32 clubs. It
Steph Curry, a legendary NBA player with four championships under his belt, is already looking towards the future beyond his playing career. During an interview on CNBC’s “Squawk on the Street,” Curry discussed his plans for life after basketball, including his thriving businesses and aspirations for NBA team ownership. At 36 years old, Curry has
Sports betting in the U.S. has reached new heights with the NFL season underway. Projections from the American Gaming Association suggest that U.S. adults will wager a staggering $35 billion this season. This marks a significant increase of more than 30% from last year’s $26.7 billion in wagers. As the legalization of sports betting expands
Ulta Beauty shares took a significant hit in extended trading following the release of their second-quarter results, which fell short of expectations. The company reported a decline in comparable store sales, marking their first EPS miss since May 2020 and their first revenue miss since December 2020. The decline in same-store sales was a staggering
The year 2024 has witnessed a significant surge in restaurant bankruptcy filings, reflecting a broader trend of increasing corporate bankruptcies across various sectors. At least 10 restaurant chains have filed for bankruptcy this year, and the numbers are expected to rise further. August saw three Chapter 11 filings from well-known eateries, indicating the financial distress