Latest Corporate management News

Five Below's CEO and president steps down amid weak sales

Jul. 16, 2024 18:23 PM EDT

NEW YORK (AP) — Five Below said Tuesday that its CEO and President Joel Anderson has stepped down amid languishing sales at the discount retailer catering to teens. The Philadelphia-based company, which has been wrestling with slower spending by its lower-income shoppers and...

Today in History: July 14, the storming of the Bastille

Jul. 14, 2024 00:09 AM EDT

Today in History Today is Sunday, July 14, the 196th day of 2024. There are 170 days left in the year. Today’s Highlight in History: On July 14, 1789, in an event symbolizing the start of the French Revolution, citizens of Paris stormed the Bastille prison and...

Destination Paris: American gymnast Frederick Richard wants to bring his sport to the masses

Jul. 12, 2024 06:03 AM EDT

ANN ARBOR, Michigan (AP) — Editor’s note: Olympic athletes competing in the marquee sports of gymnastics, swimming and track and field train for one shot at gold every four years with little margin for error. The Associated Press followed several of those athletes during their preparations for...

Half a million Houston-area homes and businesses still won't have power into next week

Jul. 11, 2024 23:13 PM EDT

HOUSTON (AP) — About half a million Houston-area homes and businesses will still be without electricity next week, the city's largest utility said Thursday, stoking the frustration of hot and weary residents and leading a top state official to call the pace of recovery from Hurricane Beryl “not...

Higher costs and low base fares send Delta's profit down 29%. The airline still earned $1.31 billion

Jul. 11, 2024 12:31 PM EDT

Americans are traveling in record numbers this summer, but Delta Air Lines said Thursday that it saw second-quarter profit drop 29% due to higher costs and discounting of base-level fares across the industry. The airline is also predicting a lower profit than Wall Street expects for...

A New Jersey Democratic power broker pleads not guilty to state racketeering charges

Jul. 09, 2024 12:57 PM EDT

TRENTON, N.J. (AP) — The New Jersey Democratic power broker charged with racketeering by the state attorney general pleaded not guilty Tuesday to charges he threatened people whose properties he sought to take over and orchestrated tax incentive legislation to benefit organizations he controlled....

Dallas Stars will start streaming their regional game broadcasts for free

Jul. 08, 2024 10:36 AM EDT

FRISCO, Texas (AP) — The Dallas Stars are taking their local game broadcasts directly to consumers for free after years of fans having issues watching the team's games on a regional sports network. The NHL team announced Monday that it has entered into a seven-year agreement with A...

Parent company of Saks Fifth Avenue to buy Neiman Marcus for $2.65 billion

Jul. 04, 2024 16:34 PM EDT

NEW YORK (AP) — The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman stores, for $2.65 billion, with online behemoth Amazon holding a minority stake. The new entity will be called Saks...

Kansas businessman pleads guilty in case over illegal export of aviation technology to Russia

Jul. 03, 2024 14:05 PM EDT

TOPEKA, Kan. (AP) — A Kansas businessman has pleaded guilty to illegally exporting sensitive aviation technology to Russian companies in violation of U.S. sanctions. Douglas Edward Robertson, who lives in the Kansas City suburb of Olathe, was the second Kansas business executive...

Southwest Air adopts 'poison pill' as activist investor Elliott takes significant stake in company

Jul. 03, 2024 11:44 AM EDT

Southwest Airlines has adopted a ‘poison pill’ following activist investor Elliott Investment Management taking a significant stake in the company. The airline said Wednesday that the shareholder rights plan is effective immediately and expires in a year. Southwest shareholders...