Alina Selyuk
👤 SpeakerAppearances Over Time
Podcast Appearances
He's a longtime company executive who's getting the top job despite investors' hopes for an outsider to shake up the retailer.
Target sales have been flat or down for going on three years.
as shoppers look elsewhere for cheaper prices or more unique offerings.
Fidelchi in a memo says job cuts are meant to simplify complexity, quote, too many layers and overlapping work that slow decisions and ideas.
A large share of PepsiCo's business is actually in snacking and food, and those sales in North America are down in the latest quarter.
In fact, Pepsi is facing new pressure from an activist investor to grow faster and more profitably.
Now the company is trying to catch up to shoppers demanding cleaner labels with fewer ingredients and generally healthier options.
Pepsi says it will add protein to Doritos chips and test out Cheetos and Lays without artificial colors or flavors.
The company will also use more of the healthier oils like avocado and olive.
And the CEO says fiber will be the new protein, forecasting big demand for its snacks with extra fiber.
Rite Aid was once one of America's biggest drugstore chains with thousands of locations.
But pharmacy chains overall have struggled to adjust to changing payment structures for prescriptions.
And the retail side faces stiff competition from grocery, big box and dollar stores.
Rite Aid first filed for bankruptcy protection in late 2023.
Its debt ballooned in part because of expensive lawsuits alleging that Rite Aid illegally filled opioid prescriptions.
The chain came out of bankruptcy last year, a smaller company, after store closures and layoffs, but not for long.
The restructuring plan failed, new funding fell through, and the chain went bankrupt again in May, this time for good.