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  • Taylor Swift sets summer’s hottest dress code: Sequins, boots, cowboy hats | CNN Business

    Taylor Swift sets summer’s hottest dress code: Sequins, boots, cowboy hats | CNN Business

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    New York
    CNN
     — 

    What’s the dress code of Summer 2023? Call it TikTok-approved coastal cowgirl aesthetic. Or, in other words, the Taylor Swift look.

    With the superstar entertainer pulling in record-breaking crowds for “The Eras Tour,” retailers across the country are marketing to “Swifties,” aggressively and inventively, as her 52-stadium tour hits their towns.

    Women’s clothing-company founder Taylor Johnson said that, from one Taylor to another, she owes Swift a big “Thank You” for going on tour again and making sparkly sequined dresses, cowboy hats and rhinestone boots massively saleable. “This has become a wild year already for us because of Taylor Swift,” said Johnson, CEO of Hazel & Olive.

    One of their dresses in particular, called aThe Eras Sequin Fringe Dress, which retails for $129, is on fire. “Our phones have been blowing up and we’ve been getting hundreds of calls and Instagram messages about that dress,” she said.

    Francesca’s, a fashion chain with 454 boutiques nationwide, expected Swift’s tour to have an impact. But ruffle, prairie, babydoll and bow-back style dresses get a 30% jump in sales at the stores when Swift is in town, said Leanne Neale, vice president of concept and creative with the Houston company.

    Trendy clothing chain Altar’d State has proactively gone all-in on Swift mania by curating looks from its collection for every one of the Swift albums. “Enter your Era,” it invites.

    Swift’s “The Eras Tour,” was infamous before it even began. The concerts were so wildly anticipated that ticket presale on Ticketmaster became a highly publicized debacle. Ticketmaster blamed extraordinary demand for crashing its website and eventually canceled ticket sales to the public. Many were left without a ticket even after purchase.

    The mess drew the ire of lawmakers, leading to a Justice Department investigation and a congressional hearing.

    Taylor Swift performs onstage during night one of Taylor Swift | The Eras Tour at Nissan Stadium on May 05, 2023 in Nashville, Tennessee.

    Ticketmaster apologized to Swift and her fans for the “terrible experience” and said it would work to “shore up our tech for the new bar that has been set by demand” for Swift’s tour.

    That was too little too late for some fans who took Ticketmaster (and parent company Live Nation) to court.

    But the show must go on, and it did, with Swift headed to New Jersey’s MetLife Stadium (seating capacity: 82,500) for shows into and over the Memorial Day weekend.

    At Altar’d State, “We’ve never prepped stores this way but we’re calling it Taylor week,” said Callie Lewis, chief merchandising officer. Mannequins wearing Swift-inspired looks are placed front and center in their stores along with other concert-friendly merchandise such as clear handbags that meet security protocols at concert venues.

    What’s moving? Everything from sundresses and metallic boots to romantic, breezy long dresses, tulle tops, daring red gowns and lots and lots and lots of fringe. “We can’t restock fast enough,” said Lewis. Hot sellers include lavender-colored clothing (inspired by Swift’s song Lavender Haze.)

    Altar'd State stores have curated Taylor Swift looks for concert goers.

    Swift isn’t the only hot concert tour influencing the fashion business in 2023. Neale at francesca’s said she’s looking to Beyonce’s “Renaissance” tour firing up demand for concertwear, too. Francesca’s stores, she said will also curate looks that appeal to the BeyHive.

    Retailer Johnson admits that all this mad dash for product is a good problem to have, given that as much as 80% of Hazel & Olive’s monthly orders currently are for concert looks. (She declined to disclose her annual sales but said she operates a multimillion-dollar-a-year small business.

    Beyonce fans queue to enter to the Friends Arena to watch her first concert of the World Tour named

    Johnson said she’s been ordering the maximum quantity of the most in-demand concert styles from her supplier, but even that’s not enough, lately.

    “As soon as I get more inventory in, it sells outs quickly,” she said, adding that she’s even flying in merchandise at a higher cost from her suppliers in China, instead of shipping it via sea as she usually does, in order to speed up delivery. As for the Taylor Swift bump to business, Johnson said she’s grateful for it.

    “This is crazy. I need Taylor Swift to go on concert year-round because we’re now on pace to have our biggest sales year yet,” she said.

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  • The agony and ecstasy of scoring last-minute face value Taylor Swift tickets | CNN Business

    The agony and ecstasy of scoring last-minute face value Taylor Swift tickets | CNN Business

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    CNN
     — 

    When Julia Thomas woke up at her home in Cleveland last Saturday, she spontaneously decided to drive 15 hours to the Taylor Swift concert that night in Nashville, picking up her sister in Cincinnati along the way. But they were missing one thing: tickets.

    Like so many Swift fans, she couldn’t get tickets on Ticketmaster when they went on sale last fall, nor could she afford the four-figure price tag listed for them on resale sites. About halfway through the drive, however, her sister found $350 floor seats after refreshing various Swift-focused Twitter accounts: Ticketmaster had just dropped a handful of last-minute tickets at face value on its website.

    “We seriously just got super lucky,” she told CNN. “We made it to Nashville with about an hour to spare before the concert started.”

    Thomas is one of many devoted fans who closely monitor a mix of Twitter accounts dedicated to alerting fans when Ticketmaster releases a new batch of Swift tickets after the initial sale.

    Ticket drops are not new. They’re ostensibly due to additional seats being added to a venue, or if tickets are returned. But these drops have become an obsession among Swift’s most devoted fans, who are struggling to find tickets for the artist in the face of Ticketmaster’s broader ticketing snafus.

    Ticketmaster has been under scrutiny for fumbling the online sales to the mega-star’s latest tour, in an era where it already completely dominates the live event industry, leaving few, if any, alternatives. In November, “Verified Fans” were sent a presale code — but when sales began, heavy demand snarled the website and millions of Swifties could not get their hands on a ticket. Presale tickets for Capital One card holders brought similar frustration — and then Ticketmaster canceled sales to the general public, citing “extraordinarily high demand” and “insufficient remaining ticket inventory.”

    In testimony before Congress, Ticketmaster parent company Live Nation President and CFO Joe Berchtold partly blamed the ticketing incident on bots. He also emphasized that Ticketmaster does not set ticket prices, does not determine the number of tickets put up for sale and that “in most cases, venues set service and ticketing fees,” not Ticketmaster.

    Ticketmaster and Live Nation are currently face a lawsuit from Swift fans across the country for “unlawful conduct,” with the plaintiffs claiming the ticketing giant violated antitrust laws, among others. A preliminary hearing was held in March; Ticketmaster has denied the allegations.

    Millions of fans are still unable to buy tickets. In recent weeks, however, Ticketmaster has been sending out more Verified Fan codes to people who were originally selected from the pre-sale to purchase from leftover tickets. For people without codes, Ticketmaster is also doing routine ticket drops ahead of shows.

    It’s not unusual, however, that thousands of fans are trying to secure the same tickets at the same time. Sometimes the seats are purchased by bots and scalpers, and reposted to third-party sites like StubHub within minutes.

    Ticketmaster did not respond to a request for comment about its ticket drops.

    But that’s not deterring Swift fans. Some are spending hours searching for tickets online and driving long distances to concert venues without a ticket in hand, even if it risks ending in heartbreak.

    Molly Ramsey, an 18-year-old fan from Bristol, Tennessee, said she recently stumbled across the Twitter account @erastourticks, which often tweets about Ticketmaster’s drops. “My family [last weekend] took the gamble to drive down the 5 hours to Nashville to see if we could get face value tickets,” she said.

    After nearly nine hours of refreshing Ticketmaster, she secured four tickets right before the show started. “We were sitting outside of the stadium while the openers were playing, but as soon as our payment went through, it was an out-of-body experience,” she said. “My sister started screaming and dancing.”

    In a nod to Swift’s hit song “Anti-Hero” and the rush to find drop tickets, the Twitter account – which has about 22,000 followers – recently tweeted: “It must be exhausting always rooting for the anti-hero aka @Ticketmaster.”

    Molly Ramsey, left, and her sister score last-minute Taylor Swift concert tickets

    A similar site, @concertleaks, has been connecting its 62,000 followers to last-minute Swift tickets. The account was originally set up years ago to post concert setlists, merchandise, and tickets for various artists, but has evolved to help connect followers with ticket drops, too.

    Another Twitter account called @ErasTourResell, which has 120,000 followers, has gained significant traction working with resellers who want to sell their tickets at face value. The account is run by longtime friends Courtney Johnston, Channette Garay and Angel Richards. The trio of twenty-somethings aim to make Swift tickets as accessible to fans as possible without them overpaying or getting scammed.

    “So far we’ve posted somewhere between 2,700 and 3,000 tickets, all for face value,” the trio said in a DM conversation on Twitter. “It’s truly so rewarding seeing these tickets go to real fans for face value when the resale market has insane prices with people making three times the profit. It’s also been amazing to meet people who follow the account at shows, especially if the only reason they were even able to attend was through our account.”

    They spend hours, in between working and going to school, sifting through daily submissions to make sure the tickets are real. The group encourages buyers to ask for video proof of tickets, to pay only via Paypal Goods and Services due to its protection plan and to never pay over the face value. (They also said they don’t make any money off the process, and do it only to help fellow Swifties, but they do have a Ko-Fi account where people can donate funds for food or coffee).

    “Surprisingly, the vetting process has gone immensely well and smoothly because by now we know what a sketchy screen recording looks like or what a forged or hacked email can look like,” the group said. “It’s all about being able to catch the super small details – what color an image is supposed to look like, what link is clickable, where that link has to take you, what message is supposed to pop up at any certain point.”

    But getting these tickets isn’t easy. After an alert for tickets is posted to their Twitter page, many users say they never hear back from sellers, and it’s unclear how they select a buyer from the hundreds of fans who reach out to them.

    “It has definitely gotten harder with our amount of followers increasing,” the friends behind @ErasTourResell told CNN. “Some [sellers pick] based off of the first direct message and mention, and others go for someone with a touching story so it truly varies. Having our notifications on helps as we tend to do a little warning and tease before posting most tickets.”

    Beyond Twitter, many fans are turning to sites such as Reddit, including the R/Taylor Swift page, for play-by-play details on Ticketmaster drops. Some say they’ve spotted them several times throughout the day but most frequently about 30 minutes before a show starts. (Tickets have even appeared an hour into the show.) Others suggest using Apple Pay to expedite the payment process and avoid losing tickets while typing in credit card information.

    Despite these massive efforts, not all fans find luck online.

    Katy Blackman, 33, from Birmingham, Alabama, said she spent all day in a Nashville hotel last weekend refreshing the site. Only once did she manage to get a single ticket into her online shopping cart, but it was gone before she could check out.

    Katy Blackman spent all day in her hotel room refreshing Ticketmaster looking for same-day Taylor Swift ticket

    Still, she headed to Nissan Stadium that night and stood in the parking lot alongside hundreds of other fans without tickets trying to get in. When the lights dimmed minutes before Swift took the stage, the crowds scattered; she was nearly the only one left, still refreshing Ticketmaster.

    “All my searching and combing Ticketmaster and resell sites was worthless,” she said. “But then all of a sudden, a random girl came running up to me truly seconds before she came on and said, “Hey, wanna come in with me?”

    The stranger had just scored last-minute tickets and had an extra to sell. “A miracle happened,” Blackman said. “My new friend and I sang every single song. We cried, danced, hugged. It was worth the absolute hell to get there.”

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  • 2 families lost multiple loved ones in the Texas outlet mall shooting | CNN

    2 families lost multiple loved ones in the Texas outlet mall shooting | CNN

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    CNN
     — 

    A family of four has become a family of one after a 6-year-old’s parents and brother were fatally shot by a gunman at a Texas outlet mall Saturday, a GoFundMe post by the family’s friends said.

    The Houston office of the South Korean Consulate confirmed Monday that three Korean Americans – husband Cho Kyu Song, 37, and wife, Kang Shin Young, 35, as well as one of their children – were killed in the shooting, according to the Dallas Morning News. The child’s name and age were not given.

    “Cindy, Kyu and three year old James were among those victims that tragically lost their lives and the family is in deep mourning,” a GoFundMe post read, written by friends of the family, referring to the family by their American names. “After being released from the ICU, their six year old son William is the only surviving member of this horrific event.”

    Eight people were shot dead and at least seven others wounded before the gunman was killed by an Allen police officer who was already at the retail center on an unrelated call, police said.

    It was one of more than 200 mass shootings in the US so far this year, according to the Gun Violence Archive, which like CNN defines a mass shooting as one in which four or more people are shot, not including the shooter. People going about their daily lives in schools, parks, grocery stores and medical buildings in communities big and small must now grapple with the trauma and grief that lingers when the shooting stops.

    Here’s what we know so far about those killed in the Texas shooting:

    The Cho family was at the mall for a day that should have been “filled with light, love and celebration,” but ended in tragedy, according to the GoFundMe campaign.

    William, who just celebrated his birthday, lost his mother, father and younger brother in the shooting, according to the post.

    Sisters Daniela and Sofia Mendoza were both elementary school students in the Wylie Independent School District, according to a letter sent to parents by the district.

    Daniela was in fourth grade and her sister was in second grade, the letter said. Their mother, Ilda Mendoza, is in the hospital in critical condition.

    “Words cannot express the sadness we feel as we grieve the loss of our students,” the letter reads. “Our thoughts and prayers are with the Mendoza family, the families of the victims, and all those affected by this senseless tragedy.”

    Cox Elementary School Principal Krista Wilson described the sisters as “rays of sunshine” in the letter.

    “Daniela and Sofia will not be forgotten,” the letter read. “Hug your kids, and tell them you love them.”

    The school district says it is not announcing the news to the students and is leaving it up to parents to have that conversation with their children. Counseling services are being offered for students, staff and families, the letter said.

    “Please hold the Mendoza family close to your heart. We know in times of tragedy, our community rallies around each other, and we will do all we can to support the family and friends of the precious students we lost.”

    Christian LaCour

    Christian LaCour was a well-liked security guard at the outlets.

    “Christian was a sweet, caring young man who was loved greatly by our family,” his sister Brianna Smith told CNN.

    The 20-year-old was “the kind of person who would just walk into the store and everyone in the room would light up because he was there,” said Max Weiss, a mall store employee.

    “Every time he was in the store, it felt safer,” Weiss added. “He brought laughter and joy and always knew what to say.”

    Aishwarya Thatikonda

    Aishwarya Thatikonda was killed while visiting the mall with a friend, CNN affiliate WFAA reported.

    Thatikonda was a few days away from turning 28, Ashok Kolla, a spokesperson with the Telugu Association of North America (TANA) told CNN. The organization helps the Telugu community in the United States.

    Family and friends described Thatikonda as a loving and hard-working person who was respected by co-workers, Kolla said.

    Thatikonda worked as an engineer, a family representative told WFAA.

    She moved to the United States about five years ago to pursue her master’s degree, Kolla said. She graduated with that degree from Eastern Michigan University in 2020.

    “We were deeply saddened to learn this morning that an Eastern Michigan University graduate, Aishwarya Thatikonda, was among those killed in Saturday’s shooting at a mall outside of Dallas, Texas,” the university said in a statement. “Aishwarya graduated from Eastern in Dec. 2020 with a Master of Science in construction management.”

    “As the nation has to once again grapple with a senseless act of gun violence, we share our condolences with Aishwarya’s family and friends,” the school added. “She will forever be remembered as a strong Eastern Michigan University Eagle.”

    Thatikonda lived in McKinney, but her family is mourning her loss from their home in India.

    The family plans to have her body sent to India, Kolla said.

    CNN has reached out to the consulate general of India in Houston for more information.

    In a statement released Monday, the Texas Department of Public Safety also identified 32-year-old Elio Cumana-Rivas as a victim in the massacre.

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  • One suspect believed to be dead in shooting at Texas mall, source says; police searching for possible second suspect | CNN

    One suspect believed to be dead in shooting at Texas mall, source says; police searching for possible second suspect | CNN

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    CNN
     — 

    Authorities in a suburb of Dallas are responding to a shooting at an outlet mall, with ATF personnel on the scene at Allen Premium Outlets.

    There is at least one confirmed shooter who is being reported as deceased on the ground, a law enforcement source told CNN.

    There is a search for a possible second gunman, according to the source, based on descriptions from witnesses, although the involvement of a second shooter is not confirmed.

    Police believe they have identified the vehicle of the deceased suspect, which is being examined by the bomb squad as a precaution, the source says.

    The Dallas field office of the Bureau of Alcohol, Tobacco, Firearms and Explosives tweeted Saturday afternoon that personnel were responding to an active shooter incident at the mall.

    Texas Gov. Greg Abbott called it an “unspeakable tragedy,” saying in a statement that “our hearts are with the people of Allen, Texas.”

    Jaynal Pervez told CNN affiliate KTVT that he arrived at the mall after his daughter, who was inside, called to inform him about a shooting.

    “We saw the police outside the door, and they told us we had to go, and that they are still looking for the person,” Pervez said. “There’s no more safe places. I don’t know what to do.”

    Police in Allen asked residents to avoid the area.

    Tony Wright, an Allen resident whose home backs up to the Allen Premium Outlets, said his family thought they heard construction before they realized it was gunshots.

    Wright said he was driving away from his house at the time and didn’t hear the gunshots himself, but his family called him moments later, “freaking out,” and saying they heard gunfire.

    Initially, however, it wasn’t clear.

    “Everyone thought it was hammering,” he said of the noise of gunfire that sounded like construction.

    But he said once they saw people fleeing the outlet mall, the family locked the doors and hunkered down.

    This is a developing story and will be updated.

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  • Bed Bath & Beyond files for bankruptcy | CNN Business

    Bed Bath & Beyond files for bankruptcy | CNN Business

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    New York
    CNN
     — 

    Bed Bath & Beyond, the store for seemingly everything in your home during the 1990s and 2000s, filed for bankruptcy on Sunday. The company said it would sell off its merchandise and then go out of business.

    “Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations,” a statement at the top of the company’s website said Sunday morning.

    The company’s 360 Bed Bath & Beyond locations, along with its 120 buybuy BABY stores, will remain open for now, as will their websites. But store closing sales will begin Wednesday, and the company will liquidate all its inventory.

    Bed Bath & Beyond had been a crown jewel of the era of so-called “category killers” — chains that dominated a category of retail, such as Toys “R” Us, Circuit City and Sports Authority. Those companies, too, ultimately filed for bankruptcy as shoppers turned away from huge specialty stores in favor of online options like Amazon.

    Bed Bath & Beyond became known for pots and pans, towels and bedding stacked from the floor to the ceiling at its cavernous stores — and for its ubiquitous 20%-off coupons. The blue-and-white coupons became something of a pop culture symbol, and millions of Americans wound up stashing them away in their cars, closets and basements.

    The company said customers will have Sunday, Monday and Tuesday to use their remaining 20%-off coupons. The company will stop accepting them Wednesday. Instead, Bed Bath & Beyond expects to offer “deep discounts” on its products as part of its going-out-of-business sales.

    The retailer attracted a broad range of customers by selling name brands at cut-rate prices. Brands coveted a spot on Bed Bath & Beyond’s shelves, knowing it would lead to big sales. Plus, the open-store layout encouraged impulse buying: Shoppers would come in to buy new dishes and walk out with pillows, towels and other items.

    Stores were a fixture for shoppers around the winter holidays and during the back-to-school and college seasons, and Bed Bath & Beyond also had a strong baby and wedding registry business.

    But the New Jersey-based company has been slow to respond to shopping changes and struggled to entice customers who had moved on to Amazon, Target and other chains.

    In its bankruptcy filing, Bed Bath & Beyond said it had $5.2 billion in debt and assets of just $4.4 billion. It secured $240 million in financing Sunday to stay afloat just long enough to close its stores and wind down its operations.

    The company encouraged shoppers to seek out its discounted merchandise later this week. Items purchased before Wednesday can be returned until May 24, but all sales after Wednesday will be final. The store will stop accepting gift cards on May 8.

    Founded in 1971 by Warren Eisenberg and Leonard Feinstein, two veterans of the discount retail industry in Springfield, New Jersey, the chain of small linen and bath stores — then called Bed ‘n Bath — first grew around the northeast and in California selling designer bedding, a new trend at the time. Unlike department stores, it didn’t rely on sales events to draw in customers.

    The company changed its name to Bed Bath & Beyond in 1987 to reflect its expanded merchandise and bigger “superstores.” The company went public in 1992 with 38 stores and around $200 million in sales.

    “We had witnessed the department store shakeout and knew that specialty stores were going to be the next wave of retailing,” Feinstein said in 1993. “It was the beginning of the designer approach to linens and housewares and we saw a real window of opportunity.”

    Customers examining items in shopping carts at a Bed, Bath & Beyond store in New York City on January 18, 1994.

    By 2000, those figures leapt to 241 stores and $1.1 billion in annual sales. The 1,000th Bed Bath & Beyond store opened in 2009, when the chain had reached $7.8 billion in annual sales.

    The company was something of an iconoclast. It spent little on advertising, relying instead on print coupons distributed in weekly newspapers to attract customers.

    “Why not just tell the customer that we’ll give you a discount on the item you want — and not the one that we want to put on sale? We’ll mail a coupon, and it will be a lot cheaper,” Eisenberg said in a 2020 New York Times interview.

    The chain was known for giving autonomy to store managers to decide which products to stock, allowing them to customize their individual stores, and for shipping products directly to stores instead of a central warehouse.

    But as brick-and-mortar began to give way to e-commerce, Bed Bath & Beyond was slow to make the transition — a misstep compounded by the fact that home decor is one of the most commonly bought categories online.

    “We missed the boat on the internet,” Eisenberg said in a recent Wall Street Journal interview. (The co-founders are no longer involved with the company.)

    Online shopping weakened the allure of Bed Bath & Beyond’s fan-favorite coupons, too, because consumers could find plenty of cheaper alternatives on Amazon or browse a wider selection on sites like Wayfair

    (W)
    .

    It wasn’t just Amazon and online shopping that sank Bed Bath & Beyond, however.

    Walmart

    (WMT)
    , Target

    (TGT)
    and Costco

    (COST)
    have grown over the past decade, and they have been able to draw Bed Bath & Beyond customers with lower prices and a wider array of merchandise. Discount chains such as HomeGoods and TJ Maxx have also undercut Bed Bath & Beyond’s prices.

    Without the differentiators of the lowest prices or widest selection, Bed Bath & Beyond’s sales stagnated from 2012 to 2019.

    Shoppers inspect cleaning supplies while shopping inside of a Bed Bath & Beyond store in New York April 13, 2011.

    Then the pandemic hit in 2020. The company temporarily closed all of its stores while rivals deemed “essential retailers” like Walmart remained open. Sales sank 17% in 2020 and 15% in 2021.

    What’s more, Bed Bath & Beyond has rotated through several different executives and turnaround strategies in recent years.

    Former Target executive Mark Tritton took the helm in 2019 with backing from investors and a bold new strategy. He scaled back coupons and inventory from national brands in favor of Bed Bath & Beyond’s own private-label brands.

    But this change alienated customers who were loyal to big brands. The company also fell behind on payments to vendors, and stores did not have enough merchandise to stock shelves. Tritton stepped down as CEO in 2022.

    Bed Bath & Beyond

    (BBBY)
    has been teetering on the brink of bankruptcy for months.

    In February, it was able to stave off bankruptcy by completing a complex stock offering that gave it both an immediate injection of cash and a pledge for more funding in the future to pay down its debt. That offering was backed by private equity group Hudson Bay Capital.

    But Bed Bath & Beyond last month said it terminated the deal with Hudson Bay Capital for future funding and was turning to the public market to try to raise funds.

    The company has also been shrinking to save money. It said earlier this year it would close around 400 locations, but would keep open profitable stores in key markets.

    And the company tried to save money by not paying severance to some laid-off workers at closing stores.

    Bed Bath & Beyond laid off 1,295 workers in New Jersey this month, just days before a new state law kicked in that mandates severance pay — equal to one week of pay for each year of employment — for workers who lose their job.

    All these moves were not enough to keep the once-dominant chain out of bankruptcy, however.

    And Bed Bath & Beyond is the latest retail chain to file for bankruptcy this year. Bankruptcies are piling up in the retail sector as interest rates go up and discretionary spending slows down.

    David’s Bridal, Party City, Tuesday Morning, mattress manufacturer Serta Simmons and Independent Pet Partners, a pet store retailer, have filed for bankruptcy in recent weeks.

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  • 2 cheerleaders were shot in a Texas supermarket parking lot after one opened the door to the wrong vehicle. A suspect is under arrest | CNN

    2 cheerleaders were shot in a Texas supermarket parking lot after one opened the door to the wrong vehicle. A suspect is under arrest | CNN

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    CNN
     — 

    Two teenage cheerleaders were shot after one said she mistook the suspect’s vehicle for her own in a supermarket parking lot near Texas’ capital – making this at least the third incident this week in which young people who’d made an apparent mistake were met with gunfire.

    Authorities arrested Pedro Tello Rodriguez Jr., 25, the man they say shot the two teens. He was taken into custody early Tuesday, the Elgin Police Department said in a news release later that morning.

    According to a probable cause document, Tello is accused of deadly conduct with a firearm, a third-degree felony. He is being held on a $500,000 bond. It was not immediately clear whether he has an attorney.

    Officers responding just after midnight Tuesday to an H-E-B supermarket parking lot found two people in a vehicle who’d been struck by bullets, police said, citing preliminary reports. One with serious injuries was rushed by helicopter to a hospital and was in critical condition, while the other was treated at the scene, the release said.

    The latter girl had gotten out of a friend’s car and opened the door to a vehicle she thought was hers, only to find a man sitting in the passenger seat, she said during a livestreamed prayer vigil Tuesday night at her cheer team’s gym, CNN affiliate KTRK reported.

    Heather Roth said she was trying to apologize to the man when he got out of the passenger door.

    “He just threw his hands up, and then he pulled out a gun and he just started shooting at all of us,” Roth said, fighting tears.

    Lynne Shearer, managing partner of the Woodlands Elite Cheer Company, told CNN the Roth and fellow cheerleader Payton Washington fled immediately in their car.

    “As soon as they saw the gun, they said go and they drove and they went about two miles down the road,” Shearer told CNN. “And that’s when they realized that Payton was seriously hurt and they pulled over once they realized that guy wasn’t following them because Payton was … throwing up blood at that point. So they, that’s when they called 911.”

    Washington was shot twice and badly injured, according to a GoFundMe spearheaded by her cheerleading team, the Woodlands Elite Generals. Washington is stable and recovering in the ICU, according to the team.

    Roth was struck by a bullet but was treated and released at the scene, Shearer said.

    Washington is “doing well today” after suffering from a ruptured spleen, which was removed, and she has damage to her pancreas and diaphragm, Shearer said Wednesday.

    “Her stomach is not closed up yet and they are keeping her on heavy antibiotics for at least 48 hours to hopefully fight off infection,” she said. “Once they are sure there is no infection, they will go back in and finish up any issues and close her up.”

    In another interview with CNN, Shearer said Washington should make a full recovery and has been FaceTiming with her friends.

    Roth and Washington are from the Austin and Round Rock area and were commuting in a carpool to a cheerleading gym in Oak Ridge North, a Houston suburb, three times a week.

    The commute is about 300 miles round trip – a commute Washington has been doing for eight years, Shearer said.

    Roth is in college, while the other three girls in the vehicle, including Washington, are in high school.

    Washington, a senior who had committed to Baylor University’s Acrobatics and Tumbling team, was born with only one lung and “has surpassed many obstacles to rise to the very top of her sport,” Shearer said.

    “Payton is a strong young lady; if you know her, you know that about her,” Baylor head acrobatics and tumbling coach Felecia Mulkey told CNN. “I have no doubt she’s going to get through this.”

    After visiting Roth on Tuesday, Mulkey said all things considered, she looked great and is making good progress – but acknowledged there’s still a long way to go on her path to recovery.

    Mulkey described Roth as an “amazing athlete but a better human.”

    “I know mental wounds also leave scars,” she said. “We want to lift up the athletes and their families during this difficult time. We love Payton and we wish her well as she recovers.”

    Shearer said her team is busy still trying to prepare for the World Championships this weekend in Orlando, which Roth still plans to compete in.

    Tuesday’s shooting was yet another case this week in which young people were shot after apparently going to the wrong place, including a 16-year-old struck in the head after ringing the wrong doorbell in Kansas City and a 20-year-old killed by the owner of a home whose driveway she’d inadvertently turned into.

    The United States is the only nation with more civilian guns than people, with about 120 guns for every 100 Americans, according to the Small Arms Survey. Elgin is a city of some 10,000 people about a half-hour drive east of Austin.

    Pedro Tello Rodriguez Jr arrested after two Texas cheerleaders were shot after one of them said they had mistakenly got into the wrong vehicle in a parking lot early Tuesday morning.

    A supermarket manager witnessed the incident, and police have surveillance footage from the parking lot that shows the license plate on the suspect’s car, police said, according to the probable cause affidavit.

    “Elgin Detectives contacted Pedro Tello at the residence. Pedro Tello was still wearing the clothing that was observed by Elgin Detectives in the surveillance footage,” the affidavit states.

    Four Woodland Elite Cheer athletes were “involved in a horrific incident” on their way home from practice Monday night, the cheerleading and tumbling company said in a Facebook post.

    “We are asking for your prayers,” it said.

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  • Watch: Apple CEO Tim Cook inaugurates first Apple store in India | CNN Business

    Watch: Apple CEO Tim Cook inaugurates first Apple store in India | CNN Business

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    CEO Tim Cook personally welcomed customers to the new Apple store in Mumbai as the tech company opens its first retail stores in India. CNN’s Vedika Sud reports.

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  • A Florida woman spent her life savings on her daughter’s cancer treatment — then she won millions in the lottery | CNN

    A Florida woman spent her life savings on her daughter’s cancer treatment — then she won millions in the lottery | CNN

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    CNN
     — 

    A Florida mother won $2 million in the lottery, just days after she finished paying off her daughter’s cancer treatment.

    Geraldine Gimblet, a resident of Lakeland, Florida, won $2 million from a $10 scratch-off lottery ticket, according to a news release from the Florida Lottery. She claimed her winnings as a one-time lump-sum payment of $1,645,000 last Friday, the April 7th news release says.

    Gimblet told the Florida Lottery she bought the last lottery ticket at her local gas station.

    “At first, the gas station clerk thought there were no tickets left,” she recalled, according to the news release. “But I asked him to double check because I like the crossword games the best. He found the last one!”

    Her daughter, who isn’t identified in the news release, spoke about the significance of her mother’s win through tears, the lottery said. Her mother paid for her treatment for breast cancer, she said.

    “The day before my mom bought this ticket, I rang the bell and walked out of the hospital after completing my last treatment for breast cancer,” said Gimblet’s daughter in the release. “My mom had taken out her life savings to take care of me when I was sick. I’m just so happy for her!”

    Gimblet purchased her lucky ticket at Pipkin Road Beverage Castle in Lakeland, according to the release. The retailer will also receive a $2,000 commission for selling the ticket.

    The chances of winning the $2 million prize in the “Bonus Cashword” game are just 1 in 3,921,270, according to the Florida Lottery’s website.

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  • What Walmart’s pullback from Chicago says about Corporate America’s limits | CNN Business

    What Walmart’s pullback from Chicago says about Corporate America’s limits | CNN Business

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    New York
    CNN
     — 

    A line of Chicago mayors heavily courted Walmart over the last two decades, brushing aside community protests. And Walmart welcomed the opportunity to show cities it could be a strong corporate partner.

    But now, Walmart is pulling back from Chicago.

    The largest retailer in the country announced plans this week to close four of its eight stores in the city, citing growing financial losses. Three are in predominantly Black and low-income neighborhoods, and their closures with little warning mean residents — including elderly citizens and people without reliable transportation — will have to travel further to buy groceries and pick up their medications.

    “These stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years,” Walmart said. Despite years of different strategies, the company said, it did not see a route to profitability for these stores. Walmart, which made $20.6 billion in 2022, did not specify why losses were growing in Chicago.

    City leaders “used a lot of political capital and their trust were questioned, Now it’s kind of like, ‘I told you so,’” said Chicago Alderman-Elect Ronnie Mosley, who will represent a Chicago ward where one of the Walmarts is set to close. His predecessor, who is retiring, was a major proponent of drawing Walmart to Chicago.

    Mayors and key political leaders had pushed to draw Walmart, despite protests from small businesses, labor groups and community activists. Critics pointed to studies that suggested a Walmart presence could push out mom-and-pop stores and drive down wages, as it had in smaller towns.

    But, at the time, officials argued opening Walmarts would provide jobs, economic development and convenient places to shop for affordable groceries and pharmacy services in some of the city’s low-income communities.

    Meanwhile Walmart, which rose mainly in rural and suburban areas, also fought hard to enter Chicago. Walmart saw it as a twofold opportunity: broaden its customer base while proving to skeptical officials in other cities that it was a strong corporate partner.

    The closures are another example of the shortcomings of local governments and even national political leaders betting on leading chains to provide key public services and fill gaps.

    If government couldn’t provide for a populace in desperate need of jobs and fresh foods, the thinking went, for-profit corporations would.

    But in Chicago, that’s not what happened. A 2012 study of Walmart’s impact in Chicago found businesses closer to Walmart were significantly more likely to close than similar businesses farther away — and the number of jobs lost by nearby retail competitors essentially offset the number of jobs created at the new Walmart stores.

    This is a particular issue in predominantly minority, low-income areas that experience economic neglect, and other chains have recently shuttered stores in these areas as well.

    Walmart gave less than a week's notice it would close four stores in Chicago.

    Whole Foods closed in Chicago earlier this year, along with CVS, Aldi and Save A Lot. In 2019, Target closed two stores, angering residents. Chains like Dollar General and Family Dollar are expanding in low-income areas, but they don’t sell fresh groceries.

    Unlike local government, which is theoretically accountable to voters, companies answer only to their shareholders and don’t have an obligation to stay in communities if they aren’t making a profit.

    Whether it’s handing over responsibility for providing public bathrooms to Starbucks and McDonald’s or vaccines and basic health services to CVS and Walgreens, the public is left vulnerable when these companies’ business priorities change or they close locations.

    “We have asked business to solve problems that we don’t want government to solve anymore,” said Bryant Simon, a professor of history at Temple University who studies the role of Corporate America and government. “We’re happy to have them do it and then shocked when they act like a business again.”

    A similar strategy to rely on national chains to help remedy so-called “food deserts” was a focus on the national level during the Obama administration. It too fell short.

    Walmart, Walgreens

    (WBA)
    , SuperValu and other store executives joined Michelle Obama at the White House in 2011 to announce a pledge to open a combined 1,500 stores in communities that have limited access to nutritious food by 2016.

    But that effort stalled. The Associated Press found in 2015 that leading chains built just 250 new supermarkets in these areas.

    “The assumption there is a single player in the nation that will work in every market is proving to not be true,” said Liz Abunaw, who founded Forty Acres Fresh Market, a startup grocer, in response to the lack of fresh food options on Chicago’s West Side. “Even in Chicago, the solutions differ by neighborhood.”

    Placing a big chain in the middle of a struggling neighborhood is not an effective strategy alone, she said, and more holistic solutions are needed, including improving housing, jobs and public transportation: “It’s not one thing. All of those things go together.”

    There also can be unintended consequences to chains opening in neighborhoods. Companies sometimes open, small retailers close – and then the chain closes, leaving a bigger void in some cases than when it first came in.

    “The idea that Walmart did the city a great favor by moving in is highly debatable,” said David Merriman, a professor of public policy, management and analytics at the University of Illinois Chicago and co-author of the study of Walmart’s presence in Chicago.

    Instead of relying on large companies to strengthen local economies, some experts say, another solution could be designing policies that better support smaller, family-owned supermarkets, co-operatives, and farmers’ markets such as Yellow Banana and ChiFresh Kitchen in Chicago.

    “Their loss is one of the main reasons that communities lack grocery stores and other basic retail in the first place,” Abunaw said.

    Despite stiff resistance from unions, grassroots groups and some local leaders in Chicago, Walmart has been embraced by the city’s last three mayors as an economic development model.

    In 2006, Chicago Mayor Richard M. Daley issued a rare veto to override a City Council bill that required big-box stores such as Walmart to pay workers a $10 minimum wage. In 2013, Mayor Rahm Emanuel cut the ribbon on a new Walmart in an underserved neighborhood, saying it was “another example of a company seeing an alignment of what is good for their bottom line with what is good for our neighborhoods.”

    In 2020, Mayor Lori Lightfoot held a press conference with Walmart CEO Doug McMillon to announce the company would expand its investment in the city following local and national protests over George Floyd’s murder by police.

    But the company struggled in Chicago. Its mammoth superstores, which are designed for people to drive to and make big shopping trips, have been less suited for city residents who tend to make smaller but more frequent trips to supermarkets.

    Walmart tried opening smaller stores, known as neighborhood markets, that serve mostly groceries — but these lower profit margins than other merchandise like electronics or clothing. Walmart is closing neighborhood markets around the country, and three of the four stores closing in Chicago fall into that category.

    In Chicago, Walmart is closing in both low-income and high-income areas, a sign that it’s struggling across the city. But it’s the stores in low-income areas that will feel the loss most.

    “We are in an area where CVS and Walgreens have closed,” Alderman-Elect Mosley said. “Walmart has become the de-facto” store and the closure is “traumatizing.”

    “Walmart is leaving and they may be doing what’s best for them,” he said. “Now I have to figure out with our community what’s best for us.”

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  • Walmart’s US chief marketing officer stepping down as retailer warns of tough year | CNN Business

    Walmart’s US chief marketing officer stepping down as retailer warns of tough year | CNN Business

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    New York
    CNN
     — 

    Walmart’s chief merchandising officer for its US operations is stepping down from the job as the retailer faces a tougher year ahead, an internal memo shared to US associates Friday said.

    Charles Redfield, whose career at Walmart spanned 32 years, will transition on May 1 and remain in an advisory role. In a memo viewed by CNN Business, Walmart U.S. CEO John Furner said Redfield wants to spend more time with his family.

    Redfield held his position at the retailer for a little more than a year, beginning in January 2022.

    The leadership shakeup comes after America’s largest retailer warned it is facing a more challenging year ahead and will approach 2023 with caution.

    Despite a strong holiday season, Walmart forecast slower sales and profit growth in February. Its strong holiday sales were fueled by groceries. Grocery prices rose 11.8% annually in December, pushing customers toward more affordable options.

    However, sales were slower for traditional holiday products like toys, electronics and clothing – a sign that consumers are cutting back on discretionary spending.

    Walmart did see an 8.3% sales increase during its latest quarter ended January 31 at US stores open for at least one year. More customers are buying its private label brands and more higher-income households are shopping at its stores, the company said.

    “The consumer is still very pressured,” Walmart CFO John Rainey told CNBC. “And if you look at economic indicators, balance sheets are running thinner and savings rates are declining relative to previous periods. And so that’s why we take a pretty cautious outlook on the rest of the year.”

    The retail industry in general is expected to face challenges this year after sluggish holiday sales.

    Redfield is a Walmart veteran. He began his career as a Sam’s Club cashier while attending the University of Arkansas. He became assistant manager with Sam’s Club and worked his way up the ladder.

    “There are merchants, and then there’s our Chief Merchandising Officer Charles Redfield,” CEO John Furner said in a memo viewed by CNN Business. “I could probably stop there and many associates across our businesses and the retail industry would know exactly what I mean.”

    Redfield became CMO for Asda, Walmart’s UK subsidiary, in 2010. In 2012, he was named executive vice president of merchandising for Sam’s Club and named executive vice president of food for Walmart U.S. in 2015.

    The Wall Street Journal first reported the departure.

    Furner said the company will be announcing a new CMO soon.

    This week, Walmart said it was selling its trendy menswear brand, Bonobos, at a steep loss, to management firm WHP Global and retailer Express Inc. for $75 million. Walmart acquired the brand in 2017 for $310 million.

    In a note, Neil Saunders, managing director of consultancy GlobalData, wrote that discounted price for Bonobos “reflects the current weaker outlook across retail, but some is also the result of Walmart not having done much to develop the brand over the past six years.”

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  • So this is how the Tupperware party ends | CNN Business

    So this is how the Tupperware party ends | CNN Business

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    New York
    CNN
     — 

    Tupperware, an iconic brand that’s woven into the fabric of post World War II America, signaled this week that it could be on its last gasp.

    Known the world over for its plastic food storage containers and its sales parties, Florida-based Tupperware warned that the company was running out of cash and needed additional money – soon – to say in operation.

    In some ways, the 77-year-old brand is still a titan: It’s, literally, a household name, and its vivid juice- and fruit-colored products are for sale in nearly 70 countries. It pulled in annual sales of $1.3 billion in 2021. But that’s down 18.7% from a year ago.

    Last October, in a massive shift in its business model, Tupperware rolled out its containers in brighter hues of red, purple and green onto Target shelves nationwide.

    But it may be too little, too late.

    Experts say this is what happens when a once-pioneering brand, beloved by families through generations, is unable to adapt to an evolving marketplace, brutal competition and attitudes and needs of younger consumers.

    “Tupperware was a disruptor in the market and in households nationwide when its plastic storage containers launched in 1946,” said Venkatesh Shankar, professor of marketing and ecommerce at Texas A&M University’s Mays Business School.

    “The company also had tremendous cultural impact. The famous neighborhood house parties where Tupperware products were sold by the host to her family and friends was a new way of marketing, combining socializing with direct sales.”

    But while the company reaped the benefits of its innovative approach for years, it ultimately couldn’t keep pace with changing times.

    History has shown, said Shankar, that nostalgia usually isn’t enough to sustain legacy brands.

    Whether or not Tupperware survives as a business, its rich history will likely endure, said William Keep, professor of marketing at the College of New Jersey School of Business.

    “I’ve been married for 50 years and we still have and use our Tupperware from when we married. Tupperware was something people gave as gifts at weddings and baby showers,” said Keep. “Clearly its a brand that focused on two things, quality and for much of its history, women.”

    Tupperware is named after Earl Tupper, a chemist in the 1940s who created lightweight, non-breakable plastic containers inspired by the seal-tight design of paint cans. The purpose was to help families save money on costly food waste in the post-war era.

    The most significant aspect of the invention was a first-of-its-kind “burping seal.” The older models of Tupperware containers would make a burp-like sound when air was let out from under the lid before it was firmly pressed and closed for an air-tight lock.

    But Tupperware products didn’t sell well in stores when they launched, according to the company, because consumers weren’t sure how to use the (back then) white and off-white containers.

    Tupperware house parties were the only way to buy the brand's plastic food containers. The parties were hosted by women in their homes and were both popular social and marketing events. (circa 1950)

    That conundrum led to an idea to demonstrate the product, which then evolved into the famous Tupperware house parties.

    The practice dove-tailed brilliantly with the rise of post-war suburbia: women had bigger homes, bigger kitchens, more money to spend, more children to feed and more responsibilities to keep house.

    Into that climate came Tupperware. Its first milky-white plastic product, the “Wonder Bowl,” cost 39 cents, according to Smithsonian Magazine; the museum has a huge Tupperware collection. Over the years, tangerine orange, baby blue and pink and kiwi green products followed.

    Tupperware parties became popular social and marketing events in the 1950s and 60s.

    The parties were much more than just a show-and-tell, said Bob Kealing, a Tupperware scholar and author of two books on the brand.

    These were glamorous affairs, akin to an afternoon tea party, where women dressed up because the parties were a feminized, soft-sell approach to selling plastic products.

    “Women wore beautiful dresses, heels, gloves. They wanted to present an upscale version of themselves because these were also events where women were recruited into the Tupperware sales force,” he said. The parties gained traction also because they were one of the few socially acceptable ways for women to make money at the time.

    Tupperware products were the centerpiece of the event, carefully stacked and presented to be shown off. “The parties were designed to be fun social gatherings,” including games and prizes, he said, and the most successful Tupperware saleswomen were sometimes rewarded with diamond rings.

    While Tupperware wasn’t the first to pioneer the direct sales model, it did scale it up in size and opportunity for women, said Tracey Deutsch, associate professor, department of history of history at University of Minnesota College of Liberal Arts.

    Tupperware’s success, said Deutsch also coincided with the expansion of suburbs across the country.

    Earl Tupper, seen here in the photo, hired Brownie Wise, a Tupperware house party hostess, as his vice president of marketing in 1951.

    “Not only did women need the space to hold the Tupperware parties but also space in the kitchen to store these containers,” she said. “And it was also dependent on a certain level of household well-being. You needed to have enough food to require these storage containers.”

    Brownie Wise was perhaps the most famous Tupperware hostess of them all. Wise, a divorced single mother living in Florida, held her own Tupperware parties in the 1940s and 50s and became a budding entrepreneur. Tupper himself took notice.

    He eventually hired Wise as his vice president of marketing, an unprecedented role for women back then.

    Kealing, author of “”Life of the Party: The Remarkable Story of How Brownie Wise Built, and Lost, a Tupperware Part Empire,” said Wise became the face of the brand and was very good at it.

    “It was great marketing and the media ate it up,” he said. But she was ultimately fired by Tupper in 1957. “Tupper… saw how the brand was becoming more about her,” said Kealing.

    Traditionally, parties were the only way you could buy Tupperware. Over time, the parties became ubiquitous both in suburban and city dwellings. As the company grew, its fleet of hostesses ballooned into a global direct sales force of nearly 3 million in 2019.

    More recently, the brand was on a quest to grab the attention of Millennials and Gen Zers and become as relevant in their everyday lives as it was for their grandmas and moms.

    That meant shedding the throwback to its “Mad Men” era image, and positioning Tupperware products as buzz-worthy, higher quality and more durable than rivals, high-utility and with an environmentally-friendly purpose.

    Tupperware had to go beyond parties or sales on its own website and the brief and limited pilot programs it had tried with retailers HomeGoods, Bed Bath and Beyond, plus an earlier pilot attempt at Target itself.

    Tupperware rolled its products into Target stores nationwide in 2022, marking a significant shift in the company's decades-long direct sales strategy.

    The shift in strategy came too late. “We’ve seen this happen with Toys ‘R’ Us, Twinkie, most recently Bed Bath & Beyond,” said Shankar.

    Tupperware, he said, is facing a perfect storm of stiff competition from other brands – Rubbermaid, Glad, Pyrex, Oxo and Ziploc – selling similar products or even disposable versions for less, lack of interest from younger shoppers and lack of exciting new products and strategies to sell them.

    “Millennials, and Gen Zers especially probably aren’t aware of its iconic status and really don’t have a reason to give it another chance,” said Shankar.

    “In my mind, the company made two critical errors,” said Keep, professor of marketing at the College of New Jersey School of Business.

    “With product, it lost ground to competitors”, said Keep. “Tupperware also consciously didn’t walk away from direct selling even as these multilevel marketing strategies stagnated in the 80s and 90s. When it was clear that model was no longer working, the company should have given up on direct sales and sold through retailers.”

    Bankruptcy could be a path forward for Tupperware, said John Talbott, Director at the Center for Education and Research in Retail at Indiana University’s Kelley School of Business.

    “The most valuable thing Tupperware owns is its brand. Like Blockbuster, the Tupperware brand will never go away,” he said. “I suspect it could file for bankruptcy and if there is a buyer for it, Target would be a great option to revive the brand with new designs and a new marketing plan.”

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  • Whole Foods closes San Francisco flagship store after one year, citing crime | CNN Business

    Whole Foods closes San Francisco flagship store after one year, citing crime | CNN Business

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    New York
    CNN
     — 

    An enormous Whole Foods in downtown San Francisco that opened just last year is temporarily closing. The company said rampant crime in the area forced it to shut down.

    The nearly 65,000-square foot location at Trinity Place in the city’s Mid-Market neighborhood shut its doors Monday to “ensure the safety” of its employees, a Whole Foods spokesperson said. Although Whole Foods did not share any additional information on the conditions that led to the store closing, the spokesperson added that it was a “difficult decision to close the Trinity store for the time being.” Affected employees will be transferred to nearby stores.

    The store at 8th and Market streets will not open Tuesday, the spokesperson said. The store’s website has also disappeared.

    Heralded as a “flagship store” following its March 2022 opening, the Whole Foods was one of the largest supermarkets in downtown San Francisco. The store sold 3,700 local products and was designed with “nods to classic San Francisco,” according to a news release.

    The San Francisco Standard, an independent news website, reported that this Whole Foods location had previously reduced operating hours last year because of theft and changed its bathrooms after employees found syringes and pipes.

    San Francisco Board of Supervisors member Matt Dorsey said on Twitter that he was “incredibly disappointed” by the closure.

    “Our neighborhood waited a long time for this supermarket, but we’re also well aware of problems they’ve experienced with drug-related retail theft, adjacent drug markets, and the many safety issues related to them,” Dorsey wrote.

    Property crimes in San Francisco have garnered national attention because of several attention-grabbing videos of thieves in action. Though still well below 2017 levels, the city saw a 23% increase in property crimes between 2020 and 2022, with spikes in burglary and theft headlining the surge, according to San Francisco Police Department data.

    Meanwhile, violent crime statistics in San Francisco have remained relatively steady in recent years. Preliminary police data reports 12 homicides in San Francisco this year, an uptick of 20% compared to the same period in the previous year. In total, there were 56 homicides in San Francisco in 2022, which is the same number of homicides the city saw in 2021.

    In recent months, national retailers have been complaining about thefts affecting locations. Chains took action by locking up everyday products such as deodorant and toothpaste and added extra security guards. However, a Walgreens executive recently admitted that the impact of the thefts may have been overblown.

    A San Francisco Cotopaxi store temporarily closed in October 2022, citing theft and employee safety, reopening in mid-November.

    Cotopaxi CEO Davis Smith, in a LinkedIn post, said at the time that the “large-scale theft and raiding” put the store’s employees at risk. But he also said he regretted that the store’s closure became the subject of a political debate about crime in San Francisco and other cities.

    “We had many jumping to our support, some who felt offended by my post, and a few who politicized our store’s closure (because these are the times we live in, unfortunately),” Smith wrote. “To be clear, I never anticipated that our decision to close our Hayes Valley store would become entangled in political discourse.”

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  • Virginia man wins $100,000 after purchasing 20 winning lottery tickets with the same numbers | CNN

    Virginia man wins $100,000 after purchasing 20 winning lottery tickets with the same numbers | CNN

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    CNN
     — 

    Putting his eggs in one basket proved fruitful for one Virginia man who purchased not one, but 20 winning lottery tickets with the same numbers.

    Alexandria resident Fekru Hirpo purchased 20 identical tickets, all with the four-digit combination of 2-5-2-7, from a gas station in Arlington, according to a Wednesday news release from the Virginia Lottery.

    The lucky winner told lottery officials he made a spur-of-the-moment decision to go all in on the same ticket for the “Pick 4” game.

    Hirpo said “he doesn’t usually play with so many tickets containing identical numbers, but something just told him to do it,” according to the news release.

    Each ticket won him a prize of $5,000 for a total of $100,000, according to the release.

    Hirpo has “no immediate plans” for his winnings, says the lottery.

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  • 3 people were wounded in a shooting at a Delaware mall, police say | CNN

    3 people were wounded in a shooting at a Delaware mall, police say | CNN

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    CNN
     — 

    Three people were wounded in a “shooting incident” at a mall outside of Wilmington Saturday evening, according to Delaware State Police.

    Multiple law enforcement agencies and other emergency responders are on the scene at Christiana Mall where an investigation is underway, New Castle County Coordinator of Emergency Management Dave Carpenter Jr. told CNN.

    “There are currently no public safety concerns at Christiana Mall and the surrounding area. Please continue to avoid the area as DSP gathers more info,” the Delaware State Police tweeted.

    Police didn’t provide details on the conditions of the victims, but said they have all been transported to an area hospital for medical treatment.

    The Delaware Department of Transportation tweeted that all entrances to the mall are currently closed “due to police activity.”

    Authorities set up a reunification site at the north entrance of the mall by the AT&T store, according to police.

    No information was available on who opened fire or what led to the shooting.

    This is a developing story and will be updated.

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  • Apple is set to open its first retail store in Mumbai as it bets big on India | CNN Business

    Apple is set to open its first retail store in Mumbai as it bets big on India | CNN Business

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    Hong Kong
    CNN
     — 

    Apple is finally getting ready to open its first physical store in the country as it bets on India as a market and manufacturing base.

    The company teased the opening of its retail outlet in a brief statement Wednesday, saying it was preparing to greet customers in the financial and commercial hub of Mumbai. Its previous plan to open a store in the country in 2021 was derailed by the coronavirus pandemic.

    The company released a photograph of its new boarded-up storefront, located at Jio World Drive Mall, a property owned by Reliance Industries, the conglomerate of Indian tycoon Mukesh Ambani.

    “Hello Mumbai,” the statement said.

    A notice outside the store said it would be “arriving soon.” Apple

    (AAPL)
    did not immediately respond to a request for further details, such as the opening date.

    The launch would come more than 20 years since the California-based giant first entered the Indian market through third-party resellers.

    For years, Apple and other foreign retailers were restricted from setting up shop in the country unless they sourced at least 30% of raw materials locally, forcing them to rely on local partners. That changed in 2019, when the Indian government relaxed some investment rules.

    In 2020, the company launched an online store in India, allowing customers to buy its products and also, for the first time, customize certain devices.

    CEO Tim Cook has previously pointed to the importance of starting its own retail network in the country, saying, “I don’t want somebody else to run the brand for us.”

    More recently, the company has been ramping up manufacturing in India.

    It increased its exports from the country significantly last year, with the number of iPhones made and shipped from India rising 65% in 2022 compared to the previous year, according to Counterpoint Research.

    Apple first began making iPhones there in 2017. But in recent months, it has expanded production after suffering severe supply chain snags in mainland China, which accounts for the bulk of its smartphone manufacturing.

    Two of Apple’s top contract manufacturers, Foxconn and Wistron, were the fastest-growing manufacturers in India during the last quarter of 2022, according to Counterpoint.

    Last month, Foxconn CEO Young Liu spent a week in the country and met Prime Minister Narendra Modi.

    The southern state of Karnataka said Foxconn had announced a major deal during Liu’s visit and that 300 acres of land had been allocated for a facility.

    According to a report from Bloomberg citing unnamed sources, the Taiwanese company plans to invest about $700 million on a new plant in the state capital of Bengaluru to make iPhone parts.

    An Indian government minister said in January that Apple was hoping to boost its output in India to a quarter of its overall total from somewhere between 5% and 7%. Apple did not respond to a request for comment at the time.

    As a market for iPhones, however, India still has a long way to go.

    Apple leads sales of premium smartphones in India, with the iPhone 13 ranking as the country’s overall bestseller in the segment last year, according to Counterpoint.

    But the company lags behind other brands in the overall market, which is led by Xiaomi and Samsung

    (SSNLF)
    , the research firm said.

    Apple accounted for just 1% of India’s smartphone market in 2019, and may notch more than 5% this year, Prachir Singh, a Counterpoint senior analyst, added.

    He said its market share could grow as it opens its own stores in the country, particularly as Mumbai is the second largest Indian market for Apple after Delhi.

    “Apple will be able to control the end-to-end user experience, and this will further take its brand image one level up,” Singh said.

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  • North Carolina man wins $2 million lottery after winning $1 million years before | CNN

    North Carolina man wins $2 million lottery after winning $1 million years before | CNN

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    CNN
     — 

    They say lightning doesn’t strike the same place twice, but a winning lottery ticket just might.

    A man in North Carolina got a sizeable return on his investment when he scratched off a $20 ticket for a $2 million prize, the North Carolina Education Lottery announced Tuesday. Less than two years ago, he collected a $1 million jackpot playing a different game in the same lottery.

    Pharris Frank told the lottery he was out of town for work when he bought the ticket.

    “It’s cool because the first time I won it was two miles from my house and this time I was four and a half hours away,” he said. “What are the chances of me being down there at that exact moment in time?”

    According to the lottery, the odds of winning the top prize on the $2,000,000 Diamond Dazzler game like Frank did are about one in 1.5 million.

    Despite those odds, Frank predicted the win. “It’s crazy because the day before I won, my buddy was asking me how it felt to win $1 million,” he said. “And I told him that I was going to double it.”

    He opted to collect a lump sum of $855,006 after federal tax withholdings rather than take an annual $100,000 over the next 20 years, the lottery said.

    After his first big win in July 2021, Frank said he spent his jackpot on a dream wedding. This time, he’s planning a vacation with his wife.

    The Diamond Dazzler game was launched last January. There are now two jackpot tickets remaining.

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  • Supreme Court humors itself as it considers whether Jack Daniel’s can stop a dog toy company from parodying its brand | CNN Politics

    Supreme Court humors itself as it considers whether Jack Daniel’s can stop a dog toy company from parodying its brand | CNN Politics

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    Washington
    CNN
     — 

    The Supreme Court on Wednesday delved into the complexities of federal trademark law in a case concerning a poop-themed dog toy that resembles a Jack Daniel’s bottle, at times erupting into laughter as the justices explored how much protection should be given to parodists that rip off trademarks they don’t own.

    At the center of the case is a “Bad Spaniels Silly Squeaker” toy created by VIP Products that is strikingly similar to Jack Daniel’s bottles. The distiller sued the company over the toy – which is replete with scatological humor – claiming it violated federal trademark law, which usually centers around how likely a consumer is to confuse an alleged infringement with something produced by the true owner of the mark.

    But at oral arguments, at least one justice admitted she didn’t understand the joke being sold by VIP Products.

    “What is there to it? What is the parody here?” Justice Elena Kagan asked an attorney for the toy company, leading the courtroom to burst into laughter. “Because maybe I just have no sense of humor. But what’s the parody?”

    Kagan went on to list a number of different marks the company pokes fun at, drawing laughter from Justice Clarence Thomas: “Doggie Walker, Dos Perros, Smella Arpaw, Canine Cola, Mountain Drool. Are all of these companies taking themselves too seriously?”

    And a misunderstanding by Lisa Blatt, an attorney representing Jack Daniel’s, over a hypothetical posed by Justice Samuel Alito led to another round of giggles.

    Alito was trying to ask how likely it was that a reasonable person would believe Jack Daniel’s approved the toy at hand or a similar theoretical toy that joked it contained “dog urine.”

    “So a reasonable person would not believe Jack Daniel’s had approved this?” he asked Blatt.

    “I think if you’re selling urine you’re probably going to win on a motion to (dismiss), but you’re probably also violating some state law,” she replied.

    “Oh no, you’re not selling urine. It’s exactly this toy, which purportedly contains some sort of dog excrement or urine,” Alito said, humoring the courtroom as he attempted to clarify his hypothetical.

    “Well, just showing how confused I was suggests that I would be your perfect consumer,” Blatt said.

    Jokes – intentional or not – aside, some of the justices were skeptical of the distillery, whose attorneys want the court to toss out a heightened standard of review an appeals court used when it ruled in favor of the toy maker.

    “I have some hesitation doing away with the Rogers Test,” Justice Sonia Sotomayor said in part, referring to a court-created test used to determine whether a potential trademark infringement in non-commercial instances enjoys constitutional protection.

    Alito seemed to agree.

    “Well, I’m concerned about the First Amendment implications of your position and you began by saying, by stressing that Rogers is atextual, it was made up.”

    “You know, there is a text that says that Congress shall make no law infringing the freedom of speech. That’s a text that takes precedence over the Lanham Act and you said there are no constitutional issues,” he added, referring to the trademark law at the center of the dispute.

    Joining the dog pile, Justice Ketanji Brown Jackson said she was “concerned about impairing artists” if the court sided with Jack Daniel’s and issued a decision that effectively prevents the unauthorized use of marks in artistic works.

    The case pits the rights of a famous trademark holder against the First Amendment rights of a company that wants to use those marks to sell a humorous product.

    VIP’s “Bad Spaniels Silly Squeaker” toy has the same general shape of a Jack Daniel’s bottle. The plastic bottle, like its glass counterpart, has a similar font style and uses a black label.

    VIP borrows Jack Daniel’s “Old No. 7 Brand Tennessee Sour Mash Whiskey” to sell “The Old No. 2 On Your Tennessee Carpet,” a reference to dog excrement. And it changes the liquor bottle’s “40% ALC. BY VOL. (80 PROOF)” with “43% POO BY VOL.” and “100% SMELLY.”

    A tag affixed to the toy notes that it’s “not affiliated with Jack Daniel Distillery.”

    That, however, was not enough to keep Jack Daniel’s from suing the company to take the toy off the market. The distiller argues VIP violates federal trademark law and that the toy, especially the references to dog excrement, damage its reputation because it could confuse consumers into thinking the product belongs to the “oldest registered distillery in the United States.”

    “To be sure, everyone likes a good joke,” lawyers for Jack Daniel’s wrote in court papers. “But VIP’s profit-motivated ‘joke’ confuses consumers by taking advantage of Jack Daniel’s hard-earned goodwill.”

    Depending on how they rule, the justices could strip away some trademark protections by giving entities cover to legally use registered marks not belonging to them so long as they do so in a way that expresses humor.

    A district court ruled in favor of Jack Daniel’s, finding that the toy infringed on the distiller’s trademark. But an appeals court later sided with VIP Products, invoking the so-called Rogers Test.

    The court said VIP’s use of Jack Daniel’s trademark was non-commercial and that because it was done humorously for an “expressive work,” it’s protected by the First Amendment.

    The case “deals with a very common thing of pitting somebody who has trademark rights … against another who is saying, ‘I’m entitled to (use those marks) under the First Amendment because it is parody. And I need to take enough of the mark in order to make it funny. People have to get the joke,’” said Mark Sommers, a trademark attorney based in Washington, DC.

    Sommers added that the justices’ decision in the matter has the potential to be a landmark ruling if they “help define that line that exists between the First Amendment right of expression – be that parody, be that art, whatever you want to express – versus the important trademark issues that are here where brand owners who have invested a tremendous amount of goodwill don’t want their trademarks used in a manner which could result in potential confusion among the consuming public.”

    Attorneys for Jack Daniel’s told the justices in court papers that the appeals court ruling “gives copycats free license to prey on unsuspecting consumers and mark holders,” and warned that if it wasn’t reversed, companies could use trademarks they don’t own to flood the markets with allegedly unserious products.

    Santa Claus, the KKK, and other bizarre hypotheticals raised by Supreme Court in LGBTQ rights case

    “No one disputes that VIP is trying to be funny. But alcohol and toys don’t mix well, and the same is true for beverages and excrement,” they wrote. “The next case could involve more troubling combinations – food and poison, cartoon characters and pornography, children’s toys and illegal drugs, and so on.”

    VIP argues consumers can easily distinguish between the two products, with lawyers for the Arizona-based company writing in court papers that it “has never sold whiskey or other comestibles, nor has it used ‘Jack Daniel’s’ in any way (humorously or not). It merely mimicked enough of the iconic bottle that people would get the joke.”

    “This is a case about speech, and a popular brand’s attempts to control that speech by weaponizing the Lanham Act,” they wrote, referring to the federal trademark law at the center of the dispute.

    “It is ironic that America’s leading distiller of whiskey both lacks a sense of humor and does not recognize when it – and everyone else – has had enough,” the toy company told the court.

    The Biden administration had urged the justices to take the case, with the Justice Department siding with Jack Daniel’s in the dispute.

    “The First Amendment does not confer any right to use another person’s trademark, or a confusingly similar mark, as a source identifier for goods sold in commerce,” the department wrote in court papers. “Indeed, the absence of any such right is a basic animating premise of trademark-infringement law. If such a right existed, states and the federal government might lack authority to prohibit trademark infringement.”

    Several major companies also filed briefs to the court in support of Jack Daniel’s, including Nike and Levi Strauss & Co.

    “Though defendants will often have an incentive to label it as such, not every humorous use of another’s trademark is a parody,” Nike wrote in its brief. “Courts therefore should take a disciplined approach to this important classification in cases where ‘parody’ is claimed.”

    The Supreme Court is expected to rule later this term in another high-profile intellectual property law case, with the justices having heard arguments last year in a copyright infringement case concerning the late Andy Warhol and the late musician Prince. During those arguments, the justices attempted to determine when a new work based on a prior piece is substantially transformative, and when it simply amounts to a copycat version of an existing work subject to copyright rules.

    This story has been updated with additional developments.

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  • Price hikes are double whammy for pet owners who are crushed by inflation | CNN Business

    Price hikes are double whammy for pet owners who are crushed by inflation | CNN Business

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    Minneapolis
    CNN
     — 

    As head of PAWS Atlanta, Joe Labriola can get a good sense of the region’s economic well-being from the day-to-day activity of the city’s oldest no-kill animal shelter.

    Through the course of the past year, it’s become increasingly clear to him that people in the area are struggling under the weight of inflation and economic uncertainty.

    Practically the entirety of the daily call volume consists of requests to rehome pets. The shelter’s “surrender queue” is full, awaiting adoptions to free up space in the main shelter. And the shelves at PAWS Atlanta’s Pet Food Pantry quickly go bare.

    But perhaps the most heartbreaking indicator is something this particular shelter never had to track before 2022. Last year, 166 pets were found abandoned at the shelter’s front gate.

    “A number of animals are being abandoned that have serious medical issues,” Labriola told CNN. “The only thing we can guess is that people just can’t afford those expenses, and they’re hoping by dropping off [their pets] at our facility that we’re going to be able to pick up the slack. And we do as best we can, but it’s really putting a strain on our resources.”

    Overall inflation remains high across the United States, but has slowly and methodically stepped down since setting a fresh 40-year record of 9.1% in June 2022, as measured by the Consumer Price Index. However, during the past eight months, inflation in pet-related products and services has only worsened, rising in some cases to record-setting levels.

    In February, when annual CPI declined to 6%, the catch-all “pets, pet products and services” index rose to 10.9%, veterinary services jumped nearly 2 percentage points to 10.3% and pet food increased to 15.2%, according to Bureau of Labor Statistics data.

    Those price increases are a double whammy for pet owners whose household finances have been weakened by persistently high inflation and for those who fear for rising instances of “economic euthanasia,” when animals are humanely put to death for financial reasons.

    The recent pet-specific price spikes also are compounding pressures facing organizations tasked with providing a safety net for animals in need.

    Nationwide, shelters are not seeing increases in pets being surrendered, said Kitty Block, chief executive officer and president of the Humane Society of the United States. However, when there are certain communities seeing spikes in abandoned or surrendered pets, that’s a sign of broader societal hardship, she said.

    “When people are having to surrender their animals for economic reasons or because they’re in the middle of a horrible disaster or war zone area, that’s a people problem; this is not some issue that is not relevant to people,” Block said. “This is bigger than dogs or cats in shelters. It’s about the people who love them.”

    At the store level, many pet products saw double-digit average unit price increases during the past year, with several items — including pet food, non-clumping cat litter and bird grooming items — seeing year-over-year price hikes north of 20%, according to Nielsen IQ data for the 52-week period ended January 28, 2023.

    “Throughout 2022, price increases were pretty extensive — all the way up to 20% and almost 30% price hikes versus the year prior — across the pet department,” said Andrea Binder, vice president of NielsenIQ North America. “In early 2023, we have started to see those start to taper off a little bit. Prices are still increasing but at a lower rate than they were in 2022.”

    The price hikes have been attributed to rising input and ingredient costs, she added.

    “The cost of chicken, the cost of beef, the cost of aluminum to make a wet cat food can … a lot of those commodity prices have been rising pretty dramatically throughout 2021 and 2022, which has caused manufacturers to increase their costs, and then therefore a lot of retailers follow suit,” she said.

    Linda Harding's dogs, Lola and Phoebe.

    Pet products, services and food have become “exponentially” more expensive, said Linda Harding, who lives in San Diego with two dogs. She said her pet food costs for Lola, her Australian Shepherd mix, and for Phoebe, her Golden Retriever, have doubled to $250 per month.

    Harding has cut back on her own expenses. She hasn’t turned on the heat much all winter, she’s limited electricity use and she has stopped buying items like clothes and eggs.

    “When you take on a pet, you take on a big responsibility,” she said. “It’s almost like when you buy a car, you’re going to have a lot of responsibility with that car. That car is going to break down, that car’s going to need repairs. It’s an investment.”

    She added: “And they’re our furbabies. We love them to pieces. So it’s not really even a question. I need to find the money to keep them as healthy as possible so we can love them as long as possible.”

    Mary Avila, a disabled veteran who lives on a fixed income, keeps things simple.

    She doesn’t go clothes shopping anymore, she buys cheaper cuts of meat, and she does try to sock away money in case her pets need a small medical procedure.

    “They always give,” said Avila, who lives in Bakersfield, California, with her cat, Jack, and two dogs, Domino and Squirt. “The cat doesn’t give as much, because cats. But the dogs, they always give, they’re always happy, they always want you around. They always are there for you.”

    Patricia Kelvin of Poland, Ohio, said her Social Security benefits and pension can only go so far, so when the cost of utilities, food or trash collection go up, she has to cut back.

    But not for her cat, Jesse.

    Patricia Kelvin's cat, Jesse.

    “If he had some major medical concern, there are a lot of things I would give up so he would get care,” she said. “There’s just no question in my mind. If my diet was going to be more beans than something else, I wouldn’t hesitate. If I had to sell my sterling silver, which I’ve had for 60 years, that would go before my little ‘Whiskers’ would be deprived.”

    The Animal Rescue League of Iowa is the largest nonprofit rescue organization in the Hawkeye State and adopted out 8,400 dogs, cats and small farm animals throughout last year.

    As pet support services manager, Josh Fiala’s role at ARL is to help keep animals out of the shelter by offering programs — such as a pet food pantry, vaccine clinics, veterinary assistance and crisis care — to help keep pets with their people.

    “We definitely, without question, have seen a dramatic increase in pretty much every one of those services,” he said, noting that the pet food pantry in particular has seen spikes in demand.

    Josh Fiala, Animal Rescue League of Iowa's Pet Support Services Manager, helps load pet food into a vehicle during a Pet Food Pantry in January 2022.

    ARL gave out about 40,000 pounds of pet food in both 2020 and 2021. Last year, it distributed 146,000 pounds of food.

    Waggle, a pet-dedicated crowdfunding platform for medical expenses and emergencies, has seen recent spikes in the volume of postings on its website — with some of the biggest increases coming from pet owners in rural communities and areas with high costs of living, said Steven Mornelli, chief executive officer and founder. Additionally, Waggle has also seen a 30% increase in posting for help with medical bills $250 and under, he told CNN.

    “We have taken that as a correlation with the stresses of inflation,” he said.

    In 2022, 4% more animals entered shelters than left, according to Shelter Animals Count, a national database of animal shelter statistics launched by some of the largest animal welfare organizations in the United States.

    That’s the largest gap seen in the past four years and is the result of fewer pets leaving shelters, not increases in surrenders, said Christa Chadwick, vice president of shelter services at the American Society for the Prevention of Cruelty to Animals.

    Adoption levels have remained essentially flat, but there has been a large decline in animals being transferred to other shelters because of staffing and driver shortages, she added.

    Joey, a shelter dog at Baypath Humane Society in Hopkinton, Massachusetts, on April 9, 2021.

    But she also highlighted the economic pressures affecting current and prospective pet owners.

    “It’s heartbreaking to know that there are situations where pet owners are being put in a position where they are making a decision about their pet, whether it’s to surrender that pet to an animal shelter or they have to make a decision about euthanasia because they can’t afford care, she said.

    “People tend to get angry at the pet owner when they [abandon or surrender their pet] but our experience has shown that when pet owners get to that point, it’s the only option they see available to them,” Chadwick. “And that’s real, and that’s hard for everybody involved, and that’s really hard for the animal who’s at the center of that.”

    Chadwick sees a role for shelters and other organizations to provide a safe and welcoming place for owners who may feel like they have no other option.

    Despite the broader economic challenges occurring within the US, PAWS Atlanta’s Labriola has had its share of feel-good success stories this year.

    PAWS Atlanta's staff members take care of pets during a public vaccine clinic on February 23.

    Donations have remained strong as has the volunteer program, he said. The low-cost public vaccination and spay and neuter clinics are sold out, indicating that people are taking advantage of inexpensive ways to care for their pets, he added.

    And just recently, the shelter’s focus of working with dogs who have been there for more than a year, or “long-term guests,” is starting to pay off, he said.

    “We’ve been able to place three long-termers into forever homes recently, freeing up space to rescue more homeless dogs,” he said.

    • Shelters, veterinarians and local rescue groups can serve as first points of contact.
    • The Humane Society of the United States’ website has a variety of resources for people facing financial challenges and need vet care, food, boarding, supplies and information to help keep pets with their families. The website has a list of national, state and local organizations.
    • Inquire if veterinarians accept Care Credit, ScratchPay or a similar service but be sure to carefully review the terms of repayment and how interest rates would be applied.
    • Ask if your veterinarian has a client-driven donation fund to help other clients in need; consider fundraising platforms such as Waggle and GoFundMe
    • Consider purchasing pet health insurance.

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  • Dollar Tree won’t sell eggs because they’re too expensive | CNN Business

    Dollar Tree won’t sell eggs because they’re too expensive | CNN Business

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    New York
    CNN
     — 

    Eggs have gotten too expensive for Dollar Tree.

    Dollar Tree

    (DLTR)
    , which sells most products for $1.25 and a small selection of items for $3 or $5, will stop selling eggs at stores because the company can’t make money offering them at flat prices.

    Egg prices have surged, fueled by short supply caused by the deadly avian flu, high production costs and egg producers increasing their own profits.

    Egg costs jumped 38% for producers annually in February and 55% for shoppers, although eggs are beginning to get cheaper. The average price for a dozen Grade A large eggs was $4.21 in February, according to data from the Bureau of Labor Statistics.

    Most retailers have raised egg prices on customers to adjust for higher costs, but Dollar Tree doesn’t have as much flexibility to raise prices.

    “Our primary price point at Dollar Tree is $1.25. The cost of eggs is currently very high,” said company spokesperson Randy Guiler. Dollar Tree, which has around 9,000 US stores, will bring back eggs when “costs are more in line with historical levels.”

    But that probably won’t be in time for a key egg-purchasing holiday, Easter, which is April 9 this year.

    Reuters first reported that Dollar Tree would stop selling eggs. Family Dollar, owned by Dollar Tree, will continue selling eggs.

    Shoppers on tight budgets have increasingly turned to dollar stores for food.

    Dollar Tree, Family Dollar and Dollar General, the largest of the three chains, have spread in recent years and added more food basics, although fresh and healthy options are limited. Dollar stores are the fastest-growing food retailers in America, according to a study by Tufts University released this year.

    Dollar Tree used to sell cartons of eight or six eggs for $1. In 2021, Dollar Tree announced it would raise prices to $1.25 because selling everything for $1 was squeezing business.

    Dollar Tree also made the decision to pull eggs because it has a lean staffing model in stores, said David D’Arezzo, a former executive at Dollar General and other retailers who now works as an industry consultant. Workers changing price tags every week on eggs to account for wild swings in the market would be an extra strain on store operations, he said.

    The chain caters to low and middle-income customers and it doesn’t want to offer eggs at sticker shock prices to hurt its price reputation with shoppers, D’Arezzo said.

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  • Camp toy store pleads for help after Silicon Valley Bank collapse | CNN Business

    Camp toy store pleads for help after Silicon Valley Bank collapse | CNN Business

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    New York
    CNN
     — 

    A toy company based in New York has gotten caught up in the collapse of Silicon Valley Bank and is pleading with customers for help keeping it afloat.

    Camp, a venture-backed retailer, sent an email to customers Friday announcing it was slashing prices and would use sales to help fund its continued operations after much of its money was tied up in the bank failure.

    “Unfortunately, we had most of our company’s cash assets at a bank which just collapsed. I’m sure you’ve heard the news,” co-founder Ben Kaufman said in an email to customers.

    He urged customers to use the code “BANKRUN” to save 40% off all merchandise, in an apparent nod to the run on the bank that may have helped bring down the Silicon Valley lender. Camp also said customers could pay full price, which it said would be appreciated.

    Kaufman said the company was “hopeful that this will be resolved soon.”

    CNN has not confirmed if Camp had funds with Silicon Valley Bank when the bank collapsed.

    Silicon Valley Bank was put under control of the US Federal Deposit Insurance Corporation on Friday, capping off a stunning 48 hour period during which fears of a liquidity crisis at the firm prompted some startups to weigh withdrawing funds.

    The sudden collapse of the Silicon Valley lender has pushed tech investors and startups to scramble to figure out their financial exposure to the bank, with founders worrying about getting their money out, making payroll and covering operating expenses.

    The rapidly unfolding fallout at Silicon Valley Bank comes at a challenging moment for startup and tech industries. Rising interest rates have eroded the easy access to capital that helped fuel soaring startup valuations and funded ambitious, money-losing projects.

    Kaufman, a former BuzzFeed executive, founded Camp in 2018. It has nine stores in California, Connecticut, Massachusetts, New York, New Jersey and Texas.

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