In a shocking turn of events, Party City has confirmed the closure of all its retail locations, coupled with immediate corporate layoffs, a move that underscores the company’s deteriorating financial situation. This news, which was delivered by CEO Barry Litwin during an urgent meeting on Friday, marks a significant moment in the history of a
Business
In a year marked by upheaval and transformation, U.S. public companies saw a historic surge in chief executive turnover, concluding with a staggering 327 CEO changes through November, according to Challenger, Gray & Christmas, an outplacement firm. This figure eclipses any previous yearly total since the firm began tracking such data in 2010, reflecting an
In an age where college athletics intertwines with big business, financial scrutiny over college sports programs has reached unprecedented levels. With revenue streams swelling into the billions, it has sparked interest from private investors eager to capitalize on what is now seen as a lucrative market. But just how much is a program truly worth?
As the automotive industry continues to navigate the recovery from the pandemic, analysts are optimistic about the future of new vehicle sales in the U.S. According to projections by Cox Automotive, U.S. new vehicle sales could reach 16.3 million units in 2025. This anticipated growth marks a notable turnaround since the peak sales figures of
In a significant move reflecting ongoing tensions between Starbucks Workers United and the coffee giant itself, reports indicate that an overwhelming 98% of union baristas have voted in favor of authorizing a strike. This decision emerges as part of a broader strategy to negotiate better working conditions and secure a solidified contract with Starbucks. Delegates
In a significant stride towards reshaping women’s basketball, the startup league Unrivaled recently announced the successful closure of a $28 million Series A funding round. Set to kick off its inaugural season soon, Unrivaled has quickly garnered attention, not only for the financial backing it has secured but also for its commitment to empowering female
In the post-pandemic world, the travel landscape is witnessing a seismic shift in passenger preferences regarding seating options on airlines. While budget-conscious travelers once dominated the skies, the landscape has transformed. More passengers are now willing to invest significantly for a more comfortable and pleasurable experience at the front of the cabin. This phenomenon is
In a heartfelt tribute following the tragic passing of his colleague Brian Thompson, CEO Andrew Witty of UnitedHealth Group has stepped into the spotlight to address deep-seated frustrations within the American healthcare system. Thompson, who led UnitedHealthcare—the largest private insurer—was fatally shot in a shocking act of violence that has added to the already significant
On Thursday, Costco Wholesale Corporation delivered impressive fiscal first-quarter results that significantly surpassed analysts’ projections, solidifying its position as a retail powerhouse. The discount retailer reported earnings per share (EPS) of $4.04, comfortably beating the anticipated $3.79. Furthermore, its revenue reached $62.15 billion, slightly above the forecasted $62.08 billion. These figures highlight Costco’s robust financial
In a significant shift within its corporate structure, Warner Bros. Discovery has announced a comprehensive restructuring initiative designed to delineate its operations into specialized linear and streaming units. The decision, which was revealed on Thursday, aims to streamline management and foster greater cohesion as the company navigates the rapidly evolving entertainment landscape. Following the announcement,