Apparel companies are about to miss their critical back-to-school sales bump
Among the many traditions getting canceled by the pandemic is the annual parental headache of back-to-school clothes shopping. That’s bad news for many retailers. Brands like The Gap, American Eagle, Abercrombie & Fitch, Urban Outfitters and Children’s Place rely heavily on fall back-to-school shopping revenue and sales and are set to lose big this fall…… MORE
Wawa is building a drive-thru only convenience store
Convenience store operator Wawa is testing a new store format as people look for contactless ways to shop during the pandemic. Wawa said the 1,850 sq-ft test store is expected to open in December in Falls Township, Pennsylvania. It’s one of two drive-thru locations planned this year. (The other one will be in Westhampton, New…… MORE
Another hedge fund is sweeping up newspapers. This time, journalists are cautiously optimistic
Hedge fund ownership of newspaper groups typically spells doom for the newsrooms. Just ask some of the former employees at the Denver Post who famously revolted against owner Alden Global Capital’s order to cut staff. But Chatham Asset Management’s takeover of McClatchy — scheduled to be finalized on Tuesday — is actually inspiring some cautious…… MORE
Dwayne “The Rock” Johnson is part of the team buying XFL for $15 million
Dwayne “The Rock” Johnson is teaming up with his ex-wife and a top sports management company to buy the bankrupt XFL football league for $15 million. Johnson — a former WWE wrestling star who has since become one of Hollywood’s most bankable action heroes — and the partners are purchasing the assets of the XFL…… MORE
Chipotle is using avocado pits as dye for its new sustainable clothing line
Chipotle wants its customers to eat — and wear — its avocados. The company announced a new “responsibly sourced” clothing and goods line Monday, and all of the T-shirts, sweatshirts and tote bags will be dyed with the food chain’s used avocado pits that would otherwise go to waste. After using avocados to make guacamole,…… MORE
The ‘Got Milk?’ ads are back but they’re not like the ones you remember
One of the most iconic questions in advertising history is back. The milk industry is resurrecting its “Got Milk?” slogan that branded a popular ad campaign from 1993 to 2014. The idea, more or less, was to make milk sexy by putting goofy white mustaches on celebrities like Britney Spears, Dennis Rodman, Jonathan Taylor Thomas,…… MORE
Men’s Wearhouse owner files for bankruptcy as pandemic torpedoes suit sales
Tailored Brands, which owns Men’s Wearhouse and Jos. A. Bank, has filed for bankruptcy, becoming the latest US retail casualty of the coronavirus pandemic that wiped out demand for office attire. The company said in a statement Sunday that it has filed for Chapter 11 bankruptcy protection in a district court in Texas to implement…… MORE
Why investors should care about the fate of TikTok
What happens to TikTok isn’t just a question for its millions of American users. The short-form video app, the latest flashpoint in tensions between the United States and China, is also of interest to investors. As the geopolitical conflict between the world’s two biggest economies intensifies, the fate of TikTok will send an important signal…… MORE
Electric truck maker Lordstown Motors is going public
Electric truck maker Lordstown Motors is the latest company to find a ticket to ride to Wall Street through a merger with a blank check company. Lordstown Motors, which plans to make an electric pickup for commercial fleets called the Endurance, said Monday it will combine with an already public firm named DiamondPeak Holdings Corp.…… MORE
The Atlantic’s star pandemic reporter: We aren’t ready for another ‘generation-defining crisis’
The Atlantic’s science writer Ed Yong wrote a feature in 2018 with the headline, “The Next Plague Is Coming. Is America Ready?” The answer gleaned from the 8,600 word piece was more or less “no.” Two years later, as the coronavirus pandemic tears through the US, Yong continues to explore the consequences of that lack…… MORE
