Nike Inc. (NYSE: NKE) said its annual sales will reach over $50 billion within five years.
Amazon.com Inc. (NASDAQ: AMZN) will launch a program called Key that will allow deliveries to inside people’s homes.
Trump aide Gary Cohn has been dropped from consideration to become next Federal Reserve chief. According to Bloomberg:
President Donald Trump does not intend to appoint National Economic Council Director Gary Cohn to lead the Federal Reserve, three people familiar with the matter said.
Trump has privately told people at least twice in the last week that he would not appoint Cohn as Fed chair, according to two people who met with him. They asked not to be identified discussing private conversations with the president.
This year has already had a record number of store closings. According to CNNMoney:
More store closings have been announced in 2017 than any other year on record. Since January 1, retailers have announced plans to shutter more than 6,700 stores in the U.S., according to Fung Global Retail & Technology, a retail think tank. That beats the previous all-time high of 6,163 store closings, which hit in 2008 amid the financial meltdown, according to Credit Suisse (CS).
Walgreens Boots Alliance Inc. (NYSE: WBA) will close a huge number of stores as its deal to buy part of Rite Aid Corp. (NYSE: RAD) closes. According to Fortune:
If it sometimes feels like there is a drugstore at practically every intersection in the United States, some relief is on the way.
Walgreens Boots Alliance said on Wednesday it would close nearly 600 of the 1,932 Rite Aid stores it is buying in a $4.375 billion cash deal set to close in the spring of 2018. The company two years ago had planned to buy smaller rival Rite Aid in its 4,500-store entirety but in the face of anti-trust regulators balking in June, instead settled for a downsized deal announced in September. A few Walgreens stores are also being closed.
Burger King has set a new promotion to better compete with McDonald’s Corp. (NYSE: MCD). According to the New York Post:
Coulrophobes should steer clear of Burger King this Halloween.
The burger chain expecting lots and lots of clowns next week. The chain announced today in a video release that they will be offering free Whoppers to anyone dressed up like a clown for their Scary Clown Night. They also took some time in the video to make a few digs at one clown in particular.
According to Burger King’s press release, “clowns are the third most sought after Halloween costume of 2017,” which prompted the brand to jump on the trend.
The video they released for Scary Clown Night starts with a kid biking through the streets at night when he is confronted by a clown bearing a striking likeness to McDonald’s iconic mascot Ronald McDonald. The advertisement continues with clowns of all shapes and make-up following the bike to Burger King.