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In under two months, discount retailer Ross Stores has opened 40 new stores.
The company launched 36 Ross Dress for Less and four DD’s Discounts stores in 17 states in September and October. The openings complete the retailer’s growth plans for fiscal 2025, adding a total of 90 stores in the time period, according to a company press release.
The brick-and-mortar expansion brought additional Ross Dress for Less locations to the Midwest and Northeast, with new stores in Michigan, New Jersey and New York, according to Richard Lietz, executive vice president of property development. DD’s expanded its footprint in the company’s core markets of California and Texas.
In its latest quarter, total sales increased 5% year over year to $5.5 billion, while comparable store sales increased 2%. Net income dropped 3.6% in Q2 to nearly $508 million.
Eastman Kodak, the 133-year-old photography company, is warning investors thats it might not survive much longer.
In its earnings report Monday, the company warned that it doesn’t have “committed financing or available liquidity” to pay its roughly $500 million in upcoming debt obligations. “These conditions raise substantial doubt about the company’s ability to continue as a going concern,” Kodak said in a filing.
Kodak aims to conjure up cash by ceasing payments for its retirement pension plan. It also said that it doesn’t expect tariffs to have “material impacts” on its business because it manufactures its many of its products, including cameras, inks and film in the United States.
Kodak had a century of success producing cameras and film. At one point in the 1970s, it was was responsible for 90% of film and 85% of camera sales in the United States, according to The Economist. Paul Simon’s hit song “Kodachrome” topped the charts in 1973.
Warner Bros. Discovery stock jumped 6% to $23.69 on Tuesday with the news of a potential Paramount Skydance $71 billion bid for the company.
In early Wednesday trading, the company maintained that level.
A Variety report suggests the deal is being backed by an investment consortium with the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi.
Paramount Skydance told Variety the report was “categorically inaccurate.” The company did not respond to Television News Daily inquiries by press time.