• On August 31, sustainable shoe maker Allbirds said that they have lost money since the start and expect to be unprofitable in the foreseeable future as they file for an initial public offering
• Allbirds is hoping to cash in on increasing demand, especially among younger shoppers, for products that are sustainably sourced

Worker wages at Walgreens to increase by November 2022

• Walgreens Boot Alliance plans to raise wages for their hourly workers to $15 per hour by November 2022
• The pay increases are reported to start this October and Walgreens said it will cost $450 million over the next three years to increase its pay

National Restaurant Association find hiring increasingly challenging 

• The National Restaurant Association projects restaurant and food service industry sales will jump nearly 20% to $789 billion this year, from $659 billion in 2020
• The estimate is still far below pre-pandemic sales of $864 billion
• Labor challenges have intensified this year, according to restaurant owners. They also are concerned about rising food costs and the potential for the Covid delta variant to stall recovery

The post Business News – 08-31-2021 appeared first on Easy Ad - Local Small Business Resources.

• With the success of their new all-electric vehicles, Porsche has seen record sales 
• The CEO of the company Kjell Gruner has reported that the company is looking into investing into all-electric cars, internal combustion engines, and plug-in hybrids
• Compared to the year prior, Porsche’s second quarter earnings has increased by 55%

To deal with delta variant of Covid, White House plans to deploy response teams

• Across the United States, the White House is deploying response teams to aid states against the delta variant of coronavirus
•  Containing officials from the CDC and other federal agencies, the teams are going to work alongside communities who are at a higher risk of experiencing an outbreak which are with low vaccination numbers
• A total of 1,000 counties in the US have a less than 30% coverage of vaccinations

• Today (Thursday), Doughnut Company Krispy Kreme has returned to public market after being off the market for 5 years 
• The company’s IPO was priced at $17 a share which is below their planned range of $21 to $24 a share
• Back in 2020, the company had a total revenue of $1.12 billion which is a 17% increase

Walgreens could have increased sales due to Passport photos and makeup sales

• During Walgreens sales in their third quarter, makeup, covid vaccines, and passport photos have driven their sales
• As the economy is slowly reopening across the US, Walgreens has said that the discretionary spending has increased in pick up online and at stores

General Motors’ sales for second quarter have been up 39.7% and miss analyst expectations

• The second quarter sales for General Motors has been slightly lower than what analysts expected
• Today (Thursday) has reported that they have sold 688,236 vehicles which is up form 39.7% from a year prior in 2020
• The Analysts had expected General Motors to have an increase of about 40% to 43% in sales according to Edmunds and Cox Automotive

The post Business News – 07-01-2021 appeared first on Easy Ad - Local Small Business Resources.