Cava on Thursday reported better-than-expected sales in its latest fiscal quarter, shaking off the malaise the broader restaurant industry has felt as consumers have cut back on dining. The Mediterranean chain said its same-store sales grew 10.8%…
Category:
Business
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Nvidia said it won’t be sending graphics processing unit plans to China following a report that the artificial intelligence chipmaker is working on a research and development center in Shanghai in light of recent U.S. export curbs. “We…
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Reddit co-founder Alexis Ohanian has purchased a minority stake in Chelsea FC Women, giving him an ownership stake in two of the most-valuable teams in women’s sports. The founder of venture capital firm Seven Seven Six…
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Business
‘Shark Tank’ alum Bombas taps former Under Armour exec as CEO as it looks beyond digital roots
Bombas founder David Heath is stepping down from his role as CEO as the socks and apparel company looks to expand beyond its direct-to-consumer roots. Bombas President Jason LaRose, a former Under Armour and Equinox executive, will…
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Netflix said Wednesday its cheaper, ad-supported tier now has 94 million monthly active users — an increase of more than 20 million since its last public tally in November. The company and its peers have been increasingly leaning…
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Dick’s Sporting Goods is buying the struggling footwear chain Foot Locker for about $2.4 billion, the second buyout of a major footwear company in as many weeks as business leaders struggle with uncertainty over President…
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YouTube will stream the National Football League’s Week 1 game on Sept. 5 for free, the first time the dominant streaming platform has ever broadcast a live NFL game in its entirety. The game, which Front…
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Uber is giving commuters new ways to travel and cut costs on frequent rides. The ride-hailing company on Wednesday announced a route share feature on its platform, prepaid ride passes and special deals week for Uber…
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Business
American Eagle shares plunge 17% after it withdraws guidance, writes off $75 million in inventory
American Eagle on Tuesday said it is writing off $75 million in spring and summer merchandise and withdrawing its full-year guidance as it contends with slow sales, steep discounting and an uncertain economy. The apparel retailer…
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Financial technology company Chime on Tuesday filed paperwork to go public on the Nasdaq. The company intends to file under the ticker symbol “CHYM.” “Chime is a technology company, not a bank,” the company said…