All articles tagged with #company strategy
Lululemon founder Chip Wilson is nominating three new board candidates to push for visionary leadership amid declining sales and increased activist investor pressure, as the company seeks to revitalize growth and regain market confidence.
Peloton issued a recall for 833,000 Bike Plus units amid ongoing challenges, but reported a profitable quarter and optimistic holiday forecast, highlighting the company's ongoing struggle with self-inflicted issues despite recent efforts to focus on profitability and efficiency.
Paramount is expected to begin layoffs of around 2,000 employees before late October, ahead of CEO David Ellison's first earnings call in November. The layoffs are part of a broader strategy to improve efficiency and fund investments in growth areas, including major deals like UFC rights and content partnerships, across various divisions of the company.
Starbucks has closed five stores in Snohomish County as part of a strategic effort to cut unprofitable locations and improve financial performance amid declining sales, with plans to reduce North American stores by about 1% and invest in upgrading existing locations, while maintaining overall growth and expansion plans.
Starbucks is closing at least 28 stores in Washington as part of its strategic review to improve store environments and financial performance, with plans to open new locations and upgrade existing ones, while supporting affected employees.
Target's CEO Brian Cornell is stepping down and will be replaced by COO Michael Fiddelke amid a 1.9% decline in second-quarter comparable sales, as the retailer struggles with competition, stock issues, and store experience problems, leading to a drop in stock value.
Duolingo CEO Luis von Ahn clarified that his earlier statements about making the company AI-first were misunderstood and not meant to imply layoffs or profit-driven motives, emphasizing the company's positive stance on AI development and experimentation.
Meta Platforms is planning its fourth major AI overhaul within six months, indicating a significant and ongoing effort to enhance its artificial intelligence capabilities and maintain its competitive edge in the tech industry.
Sonos plans to raise prices on some products later this year due to US tariffs on Vietnam and Malaysia, amid ongoing efforts to recover from past product issues and a strategic shift under new CEO Tom Conrad, focusing on software improvements and a strong future roadmap despite recent setbacks like shelving a streaming video device.
Tesla has granted Elon Musk a new share award worth approximately $29 billion to retain his leadership amid legal disputes over his previous compensation package and to align his interests with the company's future focus on AI and robotics. The award aims to boost Musk's voting power and ensure his continued role through 2027, as Tesla faces challenges like declining sales, increased competition, and changing market conditions.
Starbucks is ending its pick-up-only store concept, including two locations in Minnesota, and plans to convert some into traditional cafes or close others by 2026, citing a desire for more human connection in their brand experience.
Starbucks is phasing out its pickup-only stores due to their lack of warmth and human connection, focusing instead on creating welcoming cafes with seating and quick service, as part of its 'Back to Starbucks' initiative to improve customer experience and financial performance.
Kroger is closing four stores in the metro Atlanta area as part of a nationwide plan to close about 60 stores due to economic uncertainties, with affected employees offered transfers to nearby locations.
Kroger plans to close 60 stores over the next 18 months, representing about 5% of its total locations, as part of its first quarter 2025 results, with plans to offer affected employees roles at other stores.
Former Stellantis CEO Carlos Tavares claims he wasn't fired but left due to disagreements with Chairman John Elkann over the company's strategic direction. His departure follows a period of organizational chaos, with new leadership appointed and internal conflicts highlighted. Tavares, a highly experienced industry figure, left Stellantis amid ongoing turmoil, leaving the company vulnerable in a challenging automotive market.