Best Buy Co. reported a decline in its first-quarter income and revenue, and, similar to many other retailers, cut its full-year outlook.
“We are updating our full year guidance to incorporate the impact of tariffs,” Best Buy CFO Matt Bilunas stated in the earnings release.
Best Buy cuts full-year profit and sales guidance amid volatile tariff landscape | Chain Store Age
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Time Out will likely cease printing most of its 40 magazine editions based in cities worldwide. The company plans to continue printing the magazine in London, Madrid and Barcelona, Time Out Group CEO Julio Bruno told the Financial Times. However, the group is “unlikely” to resume printing in the US and Portugal, according to the report. Other territories are “under review by management.”
Contract talks covering 45,000 dockworkers on the U.S. East and Gulf Coasts are set to restart on Tuesday in a labor dispute that will help set the pace of automation at ports stretching from Maine to Texas.
The International Longshoremen’s Association wants to eliminate past labor contract concessions on automation – notably the use of semi-automated cranes that stack containers on docks – arguing they pose a threat to jobs.
If the two sides do not reach a deal by Jan. 15, workers at container ports that handle more than half of U.S. ocean imports could start a strike just days before President-elect Donald Trump’s Jan. 20 inauguration.
The theory among publishers that book sales rose last year because people were reading more has been borne out in part by a survey recently released by the U.S. Department of Labor. According to the American Time Use survey, reading among people 15 years old and up increased by 21% in the May-December period in 2020 over the same period in 2019. The data shows that reading of all kinds increased from just under 17 minutes per day in 2019 in the same timeframe to just over 20 minutes in the comparable period last year. The biggest increase in daily reading came among 20 to 34 year-olds and in readers over 65. People older than 75 spent by far the most time reading last year (and every year for that matter), reading an average of 55 minutes per day in the 2020 May-December period.