VF Corp. is spinning off its Wrangler and Lee jeans business into a new company it is calling -- for now -- NewCo, to focus on its activity-based lifestyle and workwear brands.
Casper Sleep, which has been disrupting the mattress business since it launched online four years ago, opened some eyes last week by announcing it will expand from one permanent retail shop in Manhattan to 200 across the country over the next three years.
Adidas is kicking butt in the wake of its World Cup tie-ins but that's not the most exciting news emerging out of yesterday's second-quarter earnings announcement, which boasts an overall sales gain of 4%, with a 16% surge in combined sales of Adidas and Reebok in North America.
Consumers who have run out of milk, eggs and Alaffia Coconut Reishi Chai Shower Gel can punch up an order on their phone or laptop and pick it up at the curb of their local Whole Foods in an hour or so for free, the Austin, Tex.-based chain owned by Amazon announced yesterday. But only if they live in Sacramento, Calif., or Virginia Beach, Va., for now. And only if their bill tallies up to $35; otherwise there's a $1.99 fee.
Another tweet, another huge controversy. No, no, no. Not HIM. We're talking Elon Musk, who out of the blue suggested via Twitter yesterday that he might take Tesla private at $420 a share, raising questions of market manipulation and securities fraud, as well as earnest inquires into exactly what the outspoken CEO has been smoking.
In its latest effort to keep the house lights on after discovering that people don't like 50% price hikes, MoviePass will ditch its plan to raise its fees but will limit patrons to three flicks a month. That conforms neatly with the frequency that 85% of its customers put down their clickers and head to the multiplex, it says.
"Accidental" leaks of the design and features of the forthcoming Galaxy Note 9 purportedly have revealed just about everything that is to be known about the device that Samsung hopes will give it renewed momentum in its market-share battle not only with Apple's iPhone X but also with cheaper competitors.
The Trump administration said yesterday that it wants to freeze fuel-efficiency requirements for automobiles and trucks through 2026, putting it directly at odds with California's standards and climate-control advocates, as well as prevailing sentiment in the auto industry. Transportation Secretary Elaine L. Chao's and acting EPA administrator Andrew Wheeler's joint proposal was published by the "Wall Street Journal" under the headline, "Make Cars Great Again."
Molson Coors Canada and The Hydropothecary Corporation (aka Hexo), a Canadian cannabis producer, are teaming up to create weed-infused nonalcoholic beverages for the Canadian market as a yet-to-be-named start-up company. Molson Coors Canada will hold a 57.5% controlling stake in the venture when the deal closes, hopefully before Sept. 30. Hydropothecary will own the rest.
Apple sold fewer iPhones than it expected to in the third quarter but it made more money doing so, thanks to the increasing popularity of the high-end X model. It also saw Apple Watch sales growing in the "mid-40% range" and its services revenue surge 31% year over year, setting it on track to become the world's first trillion-dollar company.