Author: Ananya Mariam Rajesh

By Ananya Mariam Rajesh and Savyata Mishra (Reuters) – As the holiday shopping season approaches, major U.S. retailers from Dollar General to Walmart and Macy’s could be saddled with too much stock for a second straight year, according to a Reuters analysis, jeopardizing retailers’ profit margins and generating steep discounts for shoppers. LSEG Workspace, a…

By Ananya Mariam Rajesh (Reuters) -Anheuser-Busch InBev’s Bud Light has lost its top spot in the U.S. beer market to Constellation Brands’ Modelo Especial, following backlash from conservatives over a social media promotion with transgender influencer Dylan Mulvaney. Sales of Bud Light and Budweiser dropped 24.6% and 9.2%, respectively, for the four weeks ended June…

By Ananya Mariam Rajesh (Reuters) – Anheuser-Busch InBev and Molson Coors Beverage are set to gain market share from craft beer makers in the United States this year as cost-conscious consumers are opting for cheaper six-packs, according to analysts and industry experts. With inflation making goods more expensive nationwide, consumers are trading down to more…

By Ananya Mariam Rajesh (Reuters) -Campbell Soup maintained its annual forecasts despite beating estimates for quarterly profit due to higher prices, sending shares of the Pepperidge Farm cookie maker down about 7% in early trade on Wednesday. Packaged food companies such as Campbell, Kraft Heinz and Kellogg Co have for several quarters raised the prices…

By Ananya Mariam Rajesh and Hilary Russ (Reuters) -Restaurant Brands International Inc beat Wall Street estimates for first-quarter revenue and profit on Tuesday, boosted by higher traffic and prices at Tim Hortons restaurants in Canada despite closures of some U.S. Burger King locations. The company’s global comparable sales rose nearly 10% in the March quarter,…

By Ananya Mariam Rajesh (Reuters) -Domino’s Pizza Inc on Thursday warned of a slowdown in its delivery business as consumers opt to cook at home instead of ordering in, sending shares of the company down 6% and taking the shine off the better-than-expected first-quarter results. Consumers whose disposable income has already been stretched by elevated…

By Ananya Mariam Rajesh (Reuters) – Macy’s Inc Chief Executive Jeff Gennette will retire next year after four decades with the U.S. department store chain, the company said on Wednesday and named insider Tony Spring as his successor. Spring, who has been with Macy’s for 36 years and heads its upscale Bloomingdale’s unit, is being…

By Ananya Mariam Rajesh (Reuters) -Dollar Tree Inc forecast annual profit well below estimates on Wednesday, as the discount store operator battles higher wages and freight costs while consumers cut back on discretionary items. With the U.S. on the verge of recession, rising rental and consumer prices have forced shoppers to rethink their purchases and…