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Pipeline operator Enbridge ENB 0.51%increase; green up pointing triangle
The Canadian energy company said Friday it reached a final investment decision on the first phase of a project to optimize its Mainline network, which is forecast to add egress capacity from Canada that will support increased production in the country and connect with what it described as the best refining markets in North America.
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Robb M. Stewart
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The French government moved to temporarily suspend Shein’s website after authorities discovered sex dolls resembling children were being sold on its platform.
The French finance ministry said Wednesday that it had begun the process to suspend Shein for “the time necessary for the platform to demonstrate” it has scrubbed its site of illegal products.
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Chelsey Dulaney
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KIRYAT GAT, Israel—On the edge of a small city in southern Israel, a cavernous warehouse is being remade into the headquarters of President Trump’s Gaza peace plan.
Two hundred U.S. troops working with Israel’s military and other partners have scrambled over the past week to build out a new Civil-Military Coordination Center. It will monitor the fragile cease-fire between Israel and Hamas and coordinate the flow of aid and security assistance to Gaza, which lies roughly 20 miles away.
Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Vestas Wind Systems VWS -3.14%decrease; red down pointing triangle
The Danish wind turbine maker last year unveiled plans to build a new blade factory in Szczecin, near the Baltic Sea coast, to support Europe’s build-out of offshore wind parks.
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Dominic Chopping
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Spain’s electricity-grid operator said there was no risk of an imminent second major blackout in the country after detecting two sharp voltage variations in recent weeks.
Red Electrica which operates Spain’s grid, and in which the Spanish government owns a 20% stake, said the recent voltage swings didn’t pose a risk to the supply of electricity because they didn’t surpass the acceptable limits.
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Cristina Gallardo
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A Friday announcement by Defense Secretary Pete Hegseth about a new training arrangement with Qatar’s Air Force has sparked a backlash from President Trump’s supporters, prompting him to issue a clarification later in the day.
During a visit by Qatar’s defense minister, Hegseth announced a new facility that would be built at the Mountain Home Air Force Base in Elmore County, Idaho, to host and train Qatari pilots on U.S.-made F-15s.
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Michael R. Gordon
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Walmart Inc. will shut down Store No. 8, the big-box retailer’s startup incubator and innovation hub, the Wall Street Journal reported on Friday. It’s the latest move by a retailer to trim expenses and protect profits as shoppers continue to grapple with higher prices.
Chief Financial Officer John Rainey told employees in a memo that much of what Store No. 8 did had already been incorporated into the company’s operations as a whole, the Journal said.
“We’ve graduated capabilities from this operating approach that are now fully embedded in our organization,” Rainey said in the memo, according to the Journal.
“The responsibility to shape the future of retail is now shared by all segments,” he continued.
Walmart launched Store No. 8 in 2017 in an effort to experiment with new ideas, including augmented reality, artificial intelligence and new ways of delivering products, and to stay nimble in a retail landscape increasingly defined by online shopping. The Journal said that Scott Eckert, who led Store No. 8, was leaving the company.
Walmart did not immediately respond to a request for comment. Shares were up fractionally after hours, after finishing 0.5% lower during the day.
Some analysts think that Walmart could hold onto the higher-income shoppers it attracted over the past two years of high inflation. But in a possible sign of its priorities, the retailer on Thursday announced pay raises for store managers and a bonus program that hinges more on store profits.
Walmart and other retailers have signaled that they are rethinking what technology to invest in and what stores to keep open. Those decisions would follow years of online-sales adoption, pandemic-related disruptions to shopping and a jump in prices for basics that began in 2022 and led people to shy away from buying things like laptops and clothing.
Elsewhere on Thursday, Macy’s Inc.
M,
said it would lay off corporate staff and close a handful of stores amid efforts to adapt to “an everchanging consumer and marketplace” and “evaluate the right mix of on- and off-mall locations.”
The Wall Street Journal, which first reported that news, said Macy’s intended to bring more automation to its supply chain and invest “in areas that impact consumers,” like visual displays in stores and efforts to smooth out the online-shopping experience.
CVS Corp.
CVS,
meanwhile, said it would close some pharmacies at Target Corp.
TGT,
stores as it pivots toward health services.
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Department-store chain Macy’s Inc. plans to cut 2,350 jobs and close five stores, the Wall Street Journal reported on Thursday, as the company tries to curb expenses and meet the demands of what it said was “an everchanging consumer and marketplace.”
The cuts, which amount to around 13% of Macy’s
M,
corporate staff and 3.5% of its staff overall, are part of an effort to shed costs, eliminate management layers and redirect spending toward improving customers’ shopping experience, the Journal said. The dismissals will begin on Jan. 26, according to a memo sent to employees cited by the publication.
“As we prepare to deploy a new strategy to meet the needs of an everchanging consumer and marketplace, we made the difficult decision to reduce our workforce by 3.5% to become a more streamlined company,” a Macy’s spokesperson said in a statement to MarketWatch.
The spokesperson said that the store closures were part of an effort to “reposition our store portfolio and evaluate the right mix of on- and off-mall locations,” adding that the five stores would close this year.
Shares of Macy’s were up 0.2% after hours on Thursday, after gaining 0.4% in the day’s trading.
The Journal reported that Macy’s plans to develop a more automated supply chain and would outsource some jobs. Citing a person familiar with the matter, the publication said the company would be “investing in areas that impact consumers, such as adding more visual-display managers to enhance the look of stores and upgrading digital functions to make online shopping more seamless.”
The job cuts were announced as the landscape for retailers remains uneven, as higher prices for groceries and other basics have hindered what inflation-hit shoppers can spend elsewhere.
“Despite our strong and tangible progress over the last few years, we remain under pressure,” according to the Macy’s memo cited by the Journal said.
The moves come as Macy’s President Tony Spring prepares to succeed the outgoing Jeff Gennette as the company’s chief executive next month. Macy’s is also facing a nearly $6 billion takeover bid by an investor group that’s looking to take the retailer private.
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Updated Jan. 1, 2024 12:05 am ET
A surprise surge in American oil and gas production and exports is helping to keep the world stocked, blunting the impact of widening conflict in the Middle East that has crimped key shipping lanes.
When Iranian-backed Houthi militants began launching missiles and drones at ships crossing the Red Sea near Yemen in October, many feared disruption to the vital shipping lane would drive up energy prices. But oil and gas prices this past month have sunk about 5% and 23%, respectively.
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What a strange year 2023 was for Intel.
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By Najat Kantouar
Domino’s Pizza Group said it backed its fiscal 2023 guidance expecting accelerating growth through additional opportunities mostly in the U.K. and Ireland markets.
The pizza chain–the holder of the master franchise agreement to own, operate and franchise Domino’s stores in the U.K. and Ireland–said that it expects underlying earnings before interest, taxes, depreciation and amortization to be in the range of 132 million pounds ($165.6 million) to GBP138 million.
The company added that it still expects to open at least 60 new stores this year.
“Material progress has been made in recent years but there are a number of areas where we can significantly enhance growth,” Chief Executive Officer Andrew Rennie said.
Write to Najat Kantouar at najat.kantouar@wsj.com
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Krispy Kreme has already run into trouble with the deputy mayor of Paris after opening its first store in the French capital this week.
The opening saw hundreds of Parisians flock to Krispy Kreme’s
DNUT,
new shop, which occupies a site that previously housed a restaurant run by Michelin-starred chef Alain Ducasse.
The North Carolina doughnut purveyor’s arrival in Paris, however, also attracted the ire of Deputy Mayor Emmanuel Grégoire, after the business put up a series of posters on the streets of Paris.
The Socialist Party politician slammed Krispy Kreme’s poster campaign for “littering the streets,” which he described as “illegal, polluting and costly for the community.” The so-called guerrilla marketing tactic of flyposting is illegal under French law.
“Prepare to get a big fine!” Grégoire said in response to a tweet celebrating the campaign that read: “Prepare to change your diet with @KrispyKremeFrr.”
The poster campaign was developed by advertising agency Buzzman Time, which has previously designed marketing campaigns for Burger King and Uber Eats.
The opening of Krispy Kreme’s Paris store marks the company’s first foray into France, which is now the second-biggest fast-food market in the world.
The New York–listed company, which was founded in 1937, plans to build 500 doughnut stalls across France over the next five years. Krispy Kreme doughnuts are currently available in 38 countries, including Cambodia, Myanmar and Kazakhstan. Its 379 locations in the U.S. are in 41 states and the District of Columbia.
According to its most recent financial results, Krispy Kreme generated $407 million in revenue in the third quarter of 2023, a 7.9% increase over the previous year.
Krispy Kreme and Buzzman Time have not responded to a request by MarketWatch for comment.
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Rite Aid plans to shutter 154 stores, many of them in Pennsylvania and California, as part of its bankruptcy plans, according to an initial list of those closures published in court documents filed on Tuesday.
That list was released Wednesday after the drugstore chain filed for chapter 11 bankruptcy protection in New Jersey over the weekend, amid billions in debt related to opioid lawsuits. The company at that time said it would “continue assessing its footprint and close additional underperforming stores” and announced the appointment of Jeffrey Stein as chief executive.
Here are the store locations slated to close:
California
4044 Eagle Rock Boulevard, Los Angeles
4046 South Centiela Avenue, Los Angeles
7859 Firestone Boulevard, Downey
4402 Atlantic Avenue, Long Beach
935 North Hollywood Way, Burbank
139 North Grand Avenue, Covina
13905 Amar Road, La Puente
920 East Valley Boulevard, Alhambra
3813 Plaza Drive, Oceanside
1670 Main Street, Ramona
6505 Mission Gorge Road, San Diego
8985 Mira Mesa Boulevard, San Diego
25906 Newport Road, Menifee
24829 Del Prado, Dana Point
30222 Crown Valley Parkway, Laguna Niguel
19701 Yorba Linda Boulevard, Yorba Linda
1406 West Edinger Avenue, Santa Ana
2738 East Thompson Boulevard, Ventura
720 North Ventura Road, Oxnard
20572 Homestead Road, Cupertino
2620 El Camino Real, Santa Clara
901 Soquel Avenue, Santa Cruz
571 Bellevue Road, Atwater
5409 Sunrise Boulevard, Citrus Heights
1309 Fulton Avenue, Sacramento
3029 Harbor Boulevard, Costa Mesa
959 Crenshaw Boulevard, Los Angeles
3000 South Archibald Avenue, Ontario
15800 Imperial Highway, La Mirada
8509 Irvine Center Drive, Irvine
499 Alvarado Street, Monterey
Connecticut
289 Greenwood Avenue, Bethel
Delaware
25 Chestnut Hill Plaza, Newark
3209 Kirkwood Highway, Wilmington
Idaho
1600 North Main Street, Meridian
5005 West Overland Road, Boise
Maryland
5 Bel Air South Parkway, Suite 1347, Bel Air
728 East Pulaski Highway, Elkton
5624 Baltimore National Pike, Baltimore
5804 Ritchie Highway, Baltimore
7501 Ritchie Highway, Glen Burnie
7967 Baltimore Annapolis Boulevard, Glen Burnie
Massachusetts
80 East Main Street, Webster
Michigan
924 West Main Street, Fremont
507 North Lafayette Street, Greenville
715 South Clinton Street, Grand Ledge
15250 24 Mile Road, Macomb
102 North Centerville Road, Sturgis
47300 Pontiac Trail, Wixom
35250 South Gratiot Avenue, Clinton Township
51037 Van Dyke Avenue, Shelby Township
3100 East Michigan Avenue, Jackson
9155 Telegraph Road, Taylor
1243 U.S. 31 South, Manistee
29447 Ford Road, Garden City
2838 East Court Street, Flint
1900 East 8 Mile Road, Detroit
36485 Garfield Road, Clinton Township
25922 Middlebelt Road, Farmington Hills
109 North Whittemore Street, St. Johns
1124 North Ballenger Highway, Flint
2701 South Cedar Street, Lansing
New Hampshire
420 Daniel Webster Highway, Merrimack
New Jersey
4057 Asbury Avenue Suite 8, Tinton Falls
431 Haledon Avenue, Haledon
35 Mill Road, Irvington
1636 Route 38 Suite 49, Lumberton
773 Hamilton Street, Somerset
1434 South Black Horse Pike, Williamstown
3 Marshall Hill Road West, Milford
210 Bridgeton Pike, Mantua
108 Swedesboro Road Suite 20, Mullica Hill
2370 Route 33, Robbinsville
1726 Route 37, East Toms River
86 B Lacey Road, Whiting
New York
2887 Harlem Road, Cheektowaga
2002 Avenue U, Brooklyn
2 Whitney Avenue, Floral Park
71-18 Kissena Boulevard, Flushing
3131 Hempstead Turnpike, Levittown
2981 Ocean Avenue, Brooklyn
3199 Long Beach Road, Oceanside
198 West Merrick Road, Valley Stream
836 Sunrise Highway, Bay Shore
2784 Sunrise Highway, Bellmore
901 Merrick Road, Copiague
577 Larkfield Road, East Northport
695 East Jericho Turnpike, Huntington Station
700-43 Patchogue-Yaphank Road, Medford
273 Pine Hollow Road, Oyster Bay
397 Sunrise Highway, West Patchogue
593 Old Town Road, Port Jeff Station
65 Route 111, Smithtown
2453 Elmwood Avenue, Kenmore
1567 Penfield Road, Rochester
Ohio
3129 Lincoln Way East, Massillon
120 South Main Street, New Carlisle
146 Woodman Drive, Dayton
2701 Market Street, Youngstown
401 West North Street, Springfield
230 South Main Street, Bellefontaine
Oregon
2440 Southeast Cesar Chavez Boulevard, Portland
Pennsylvania
2715 Parade Street, Erie
5612 North Fifth Street, Philadelphia
350 Main Street, Pennsburg
4011 Cottman Avenue, Philadelphia
1441 Old York Road, Abington
300 Market Street, Johnstown
8716 New Falls Road, Levittown
1750 Bustleton Avenue, Philadelphia
169 West Lancaster Avenue, Ardmore
1315 East Washington Lane, Philadelphia
801 Wyoming Avenue Suite 9, West Pittston
657 Heacock Road, Yardley
2801 West Dauphin Street, Philadelphia
1709 Liberty Street, Erie
674 Route 196, Suite 14, Tobyhanna
2722 West 9th Street, Chester
950 East Baltimore Pike, Yeadon
8235 Stenton Avenue, Philadelphia
7941 Oxford Avenue, Philadelphia
5440 Lansdowne Avenue, Philadelphia
700 Stevenson Boulevard, New Kensington
208 East Central Avenue, Titusville
1080 South West End Boulevard, Quakertown
136 North 63rd Street, Philadelphia
351 Brighton Avenue, Rochester
5235 Library Road, Bethel Park
5990 University Boulevard Suite 30, Moon Township
2501 Saw Mill Run Boulevard, Pittsburgh
5410 Keeport Drive, Pittsburgh
6090 Route 30, Greensburg
4830 William Penn Highway, Export
1730 Wilmington Road, New Castle
2178 West Union Boulevard, Bethlehem
1628 South Fourth Street, Allentown
2401 East Venango Street, Philadelphia
6327-43 Torresdale Avenue, Philadelphia
200 West Ridge Avenue Suite 112, Conshohocken
301 Eisenhower Drive, Hanover
7036 Wertzville Road, Mechanicsburg
Virginia
833 North Battlefield Blvd, Chesapeake
1458 Mount Pleasant Road, Chesapeake
Washington
601 South Grady Way Suite P, Renton
3202 132nd Street Southeast, Mill Creek
110 Southwest 148th Street, Burien
10103 Evergreen Way, Everett
8230 Martin Way East, Lacey
22201 Meridian Avenue East, Graham
9600 15th Avenue Southwest, Seattle
2518 196th Street Southwest, Lynnwood
3620 Factory Blvd Southeast, Bellevue
11919 Northeast 8th Street, Bellevue
7370 170th Avenue Northeast, Redmond
— Mike Murphy contributed to this report.
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Drugstore chain Rite Aid Corp. filed for bankruptcy Sunday, as it faces billions of dollars of debt related to opioid lawsuits.
In a statement Sunday night, Rite Aid
RAD,
said it will close some “underperforming” stores and announced Jeffrey Stein as its new chief executive and chief restructuring officer. Interim CEO Elizabeth Burr will remain on the company’s board.
The bankruptcy filing had been expected for months, and the Wall Street Journal reported in August that Rite Aid was more than $3.3 billion in debt, due largely to hundreds of lawsuits related to its distribution of opioid painkillers. The bankruptcy filing stays pending litigation against the company.
Earlier this month, the New York Stock Exchange warned Rite Aid that it was “no longer in compliance” with the exchange’s minimum pricing and valuation standards, and gave it six months for the stock to regain compliance. Rite Aid shares have plunged about 80% year to date.
Rite Aid said Sunday that lenders will provide $3.45 billion in financing for the chain to continue operating through the chapter 11 bankruptcy process.
“With the support of our lenders, we look forward to strengthening our financial foundation, advancing our transformation initiatives and accelerating the execution of our turnaround strategy,” Stein said in a statement. “In doing so, we will be even better able to deliver the healthcare products and services our customers and their families rely on — now and into the future.”
Rite Aid said it would work to minimize the effect of store closures on its customers so there is no disruption of services, and will transfer affected workers to different locations when possible.
Rite Aid has about 2,100 stores and employs around 47,000 people. It has closed more than 200 stores in the past couple of years.
Rite Aid also said it had reached a deal for pharmacy benefit-solutions company MedImpact Healthcare Systems Inc. to acquire its Elixer Solutions business. A price for the transaction was not disclosed.
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