Kohl's (KSS) earnings Q1 2024: Net sales decreased 5.3% to $3.18 billion compared with the year prior, with comparable sales down 4.4%. The company also lowered its 2024 guidance.
Foot Locker (FL) earnings Q1 2024: The sneaker giant saw comparable sales decline 1.8% during its fiscal first quarter, far better than the 3.1% drop-off that analysts expected, according to StreetAccount.
Terraform Labs, Do Kwon reach a 'settlement in principle' with US SEC, according to court entry | The Block: The SEC charged Terraform and Kwon in February 2023 over the algorithmic stablecoin Terra USD (UST), which collapsed a year earlier.
Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause | AP News: Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation.
WeWork eliminates $4bn in debt after judge approves bankruptcy plan | Business | The Guardian: Days after co-founder dropped buying bid, the company claims it is set for ‘sustainable, profitable growth’ and to re-emerge next month
WeWork’s new owner pitches no-drama turnaround for Adam Neumann’s old company: Less than two years ago, Yardi put in more than $200mn in equity and debt through an anonymous vehicle to prop up WeWork. He agreed to inject another $337.5mn two months ago to counter an offer from Neumann
Bank of America CEO: Consumers, businesses have turned cautious: Whether it’s households or small- to medium-sized businesses, Bank of America clients are slowing down the rate of purchases made for everything from hard goods to software, the bank’s CEO Brian Moynihan said
Winnetka-based private equity firm purchases Oberweis Dairy in bankruptcy auction – NBC Chicago: Private equity firm Hoffmann Family of Companies bought Oberweis Dairy and its assets on Wednesday in a bankruptcy auction, besting an initial offer from the owner of Dutch Farms, an egg-and-dairy company based in Pullman
After 4 years, Syracuse Catholic diocese moves closer to exiting bankruptcy, paying victims - syracuse.com: Bishop Douglas Lucia said entering bankruptcy was the only way to address the claims, which now total more than 400, in “a fair and equitable manner.” The diocese has nearly 200,000 congregants in seven counties
Hertz Is Exploring Options for Raising Financing - Bloomberg: Hertz Global Holdings Inc. is exploring options to raise financing weeks after the company’s new chief executive officer pledged to get the company back on track following a failed bet on electric vehicles, according to people with knowledge of the matter.
E-Grocer Takeoff Technologies Files for Bankruptcy to Sell Assets - WSJ: Customers including Albertsons, Woolworths and ShopRite are financing the micro-fulfillment company in bankruptcy and might acquire it
