Connect with us

California

11 more Bed Bath & Beyond stores in California slated for closure

Published

on

11 more Bed Bath & Beyond stores in California slated for closure


Mattress Tub & Past, the struggling home-goods retailer getting ready to chapter, recognized 11 shops set to shut in California this yr.

A number of Southern California shops are affected, together with places in Culver Metropolis, Glendora, Hawthorne and Pasadena.

They’re a part of the newest spherical of 87 retailer closures throughout the U.S. confirmed by the Union, N.J.-based firm Monday.

Amid steep losses, Mattress Beth & Past stated final summer season that it deliberate to shut roughly 150 of its namesake shops and slash its workforce by 20%, shedding hundreds, as a part of a plan to show its declining gross sales round.

Advertisement

Mattress Tub & Past shops in Valencia, Palmdale, Burbank, La Habra, Lakewood and Buena Park had already been marked for closure. The chain closed 118 places in 2022, together with 16 shops in California, based on a listing up to date by Mattress Tub & Past final month.

“As we work with our advisors to contemplate a number of paths, we’re implementing actions to handle our enterprise as effectively as doable,” the corporate stated in an emailed assertion.

In early January, the corporate warned that it could file for chapter safety.

There’s “substantial doubt in regards to the firm’s capacity to proceed,” the retailer stated in a submitting with the Securities and Change Fee.

Mattress Tub & Past gross sales have slumped as the corporate has struggled to supply a singular product. Greater chains corresponding to Walmart and Goal have tailored extra successfully to clients’ growing desire for purchasing on-line and nibbled away at Mattress Tub & Past’s market share. Analysts stated poor monetary choices made by the personal fairness homeowners that took management of the corporate in 2019 had been additionally guilty.

Advertisement

“They overlooked the shopper,” stated Neil Saunders, managing director of GlobalData Retail.

Mattress Tub & Past’s artistic cultivation of assorted producer manufacturers is what made its enterprise profitable, he stated, however the firm has misplaced “that magnetism that used to deliver clients in.”

“It was actually like an Aladdin’s cave of homeware. Individuals loved exploring there,” Saunders stated. “Nowadays Mattress Tub & Past is quite boring and mundane.”

Saunders stated the corporate’s choices to spend money on creating unique in-house manufacturers and spend on inventory buybacks had been poor.

In June, Chief Government Mark Tritton was ousted after holding the place for lower than three years. The corporate subsequently reversed its technique, dropping Tritton’s concentrate on cultivating in-store labels quite than nationwide manufacturers.

Advertisement

“They’d the improper product on the flooring,” stated Ronald Friedman, a frontrunner of the retail observe at Marcum, an accounting and advisory agency. Friedman stated the corporate’s struggles contrasted with different home-focused rivals corresponding to Residence Depot, which did sturdy enterprise in the course of the pandemic.

“Everybody else within the house reworking enterprise was doing good. Why weren’t they?” he stated.

Mattress Tub & Past’s place didn’t at all times look so precarious.

Based in 1971, Mattress Tub & Past was a large in reasonably priced however high quality house decor and wares. Its explosive progress within the Nineteen Nineties and early 2000s got here at a time when big-box retailers narrowly centered on dominating one class of client merchandise had been discovering success.

Typically credited with its rise as a retail power, the corporate’s distinctive retailer flooring plans capitalized on the idea of intentional muddle. Shops, full of stacks of merchandise, had winding paths that ensured clients would move as many merchandise as doable. Native managers had been afforded autonomy to customise their shops to regional tastes.

Advertisement

The corporate’s bodily footprint peaked at 1,552 shops in early 2018.

In August, Mattress Tub and Past’s inventory briefly ballooned in worth because it was swept up within the development dubbed the meme-stock craze, pushed by small buyers banding collectively in on-line boards to spice up sure firms

Additionally in August, nevertheless, influential activist investor Ryan Cohen, who co-founded on-line pet-products retailer Chewy, confirmed he had ditched his Mattress Tub and Past inventory. The corporate’s inventory worth plummeted with Cohen’s announcement.

Apart from its namesake shops, Mattress Tub & Past additionally slated a complete of 5 of its Buybuy Child shops and all places of its Harmon drugstores for closure.



Source link

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

California

Another batch of raw milk from a trendy California brand just tested positive for bird flu

Published

on

Another batch of raw milk from a trendy California brand just tested positive for bird flu


  • Two batches of raw milk from a trendy California brand have tested positive for bird flu this week.
  • Bird flu has been spreading rapidly among cattle in the US.
  • Experts say drinking raw milk is dangerous, and can cause food poisoning.

Another batch of raw milk just tested positive for bird flu in California.

Last Sunday, Fresno-based Raw Farm voluntarily recalled a first batch of cream top whole raw milk with a “best by” date of November 27. By Wednesday, the California Department of Public Health announced that a second batch of Raw Farm cream top, with a “best by” date of December 7 had also tested positive for bird flu, based on retail sampling.

“We’re not making a big deal about it, because it’s not a big deal,” Kaleigh Stanziani, Raw Farm’s vice president of marketing, said in a short video posted on YouTube after the farm’s first voluntary recall was announced earlier this week.

Advertisement

She said there had only been an indication that there might be a “trace element of something possible,” emphasizing that there had been no reported illnesses of Raw Farms cows or positive tests from the cattle.

Raw Farm owner Mark McAfee later told the LA Times that the California Department of Food and Agriculture had requested that his company “hold delivery of further products” until Friday, after conducting thorough testing of two Raw Farms and one creamery on Wednesday. (McAfee could not immediately be reached for comment by Business Insider during the Thanksgiving holiday.)

Raw milk may be helping bird flu spread — but not in the way you might think


raw milk

Containers of Raw Farm raw milk on a shelf at Berkeley Bowl on November 25, 2024 in Berkeley, California.

Justin Sullivan/Getty Images

Advertisement



Scientists suspect that cross-contamination of raw milk between animals may be one reason the H5N1 virus is spreading rapidly among cows in the US — and could even contribute to the human spread of the virus. The Centers for Disease Control and Prevention cautions that dairy workers might be able to contract bird flu by infected raw milk splashed into their eyes.

There is no definitive evidence yet that humans can get bird flu from drinking contaminated raw milk. Instead, health authorities generally recommend avoiding raw milk because of other serious health risks, including food poisoning with bacteria like Salmonella, E.coli, or Listeria.

There are no known health benefits of drinking raw milk. Instead, all evidence suggests that pasteurized milk is just as nutritious, and is safer to consume.

Still, raw milk has become a trendy product among some influencers. Gwenyth Paltrow says she has it in her coffee in the morning.

Advertisement

Robert F. Kennedy Jr., President-elect Trump’s pick for Health and Human Services secretary, says he wants the US Food and Drug Administration to stop its “war” against raw milk.

Over the summer, “Carnivore MD” Paul Saladino released a raw milk smoothie in partnership with the elite Los Angeles health foods store Erewhon featuring unpasteurized (raw) kefir from Raw Farms, and powdered beef organs.

California has some of the loosest rules around raw milk in the country; it’s generally fine for California retailers like health foods stores and grocers to sell it, raw milk products just can’t be transported across state lines, per FDA rules.


raw milk smoothie

Dr. Paul’s Raw Animal-Based Smoothie includes Raw Farm kefir milk, beef organ powder, as well as blueberries, honey, bananas and other ingredients. It’s $19.

Advertisement

Dania Maxwell/Los Angeles Times via Getty Images



Michael Payne, a researcher at the Western Institute of Food Safety and Security, told The Guardian that people consuming Dr. Paul’s $19 smoothie were “playing Russian roulette with their health,” and ignoring pasteurization, “the single most important food safety firewall in history.”

California dairy farms have been seeing an uptick in bird flu cases since August. The state has reported 29 confirmed human cases of bird flu, and all but one of those was sourced back to cows.

Last week, the Centers for Disease Control and Prevention reported the first confirmed case of bird flu in a California child from Alameda County. The child had no known contact with infected farm animals, but may have been exposed to wild birds, the California health department said in a statement.

Advertisement

The child had mild symptoms and is recovering well after receiving antiviral drugs.





Source link

Continue Reading

California

10 of 15 Southern California industries slow their hiring pace

Published

on

10 of 15 Southern California industries slow their hiring pace


Southern California’s bosses added 80,700 workers in the past year to a record 8.06 million jobs – but that hiring pace is roughly half of the pre-pandemic job market’s gains.

My trusty spreadsheet – filled with state job figures for Los Angeles, Orange, Riverside, and San Bernardino counties – compared employment changes for the region and 15 industries in the year ended in October with the average yearly hiring pace before coronavirus upended the economy.

Yes, there have never been more Southern Californians employed. However, the recent hirings that created the all-time high staffing are far below the average job creation of 159,600 a year in 2015-19.

This is one of many signals of cooler business trends. It’s a chill significantly tied to the Federal Reserve’s attempts to slow what was once an overheated economy.

Advertisement

But Southern California bosses have another challenge – a shortage of workers. The region’s workforce, a measure of labor supply, is basically flat comparing 2024 to 2015-19. Fewer choices of workers have added difficulty for local businesses trying to meet their staffing needs.

Think of that when you learn that among the 15 Southern California business sectors tracked – hiring in 10 industries is below pre-pandemic years compared with five industries with improvements.

The downs

First, contemplate the 10 industries where the hiring pace has weakened, ranked by the size of the decline …

Professional-business services: 1.14 million workers in October – down 4,600 in a year vs. 24,100 annual gains in 2015-19. This net downturn of 28,700 jobs is unnerving because this white-collar work typically pays above-average salaries.

Construction: 378,700 workers – down 3,100 in a year vs. 16,200 annual gains in 2015-19. A building slowdown due to lofty mortgage rates created this 19,300 reversal.

Advertisement

Logistics-utilities: 820,800 workers – up 6,800 in a year vs. 25,800 annual gains in 2015-19. What’s at least a temporary oversupply of warehouses in the region may be behind this 19,000 slowdown.

Manufacturing: 558,400 workers – down 15,300 in a year vs. 4,100 annual cuts in 2015-19. This 11,200 drop is continued losses of local factory work tied to high cost of doing business in the region.

Fast-food restaurants: 359,400 workers – up 3,400 in a year vs. 12,400 annual gains in 2015-19. Weaker consumer spending and a hike in the industry’s minimum wage contribute to this 9,000 drop.

Hotels/entertainment/recreation: 268,300 workers – up 3,400 in a year vs. 9,600 annual gains in 2015-19. This 6,200 cooling reflects worker shortages.

Full-service eateries/food service: 339,100 workers – up 1,600 in a year vs. 6,600 annual gains in 2015-19. Inflation making shoppers  pickier is part of this 5,000 cooling.

Advertisement

Information: 214,200 workers – down 100 in a year vs. 3,700 annual gains in 2015-19. Weakness in tech businesses and Hollywood productions created the 3,800 net downturn.

Personal services: 266,600 workers – up 500 in a year vs. 3,200 annual gains in 2015-19. Again, it is hard to find people to do this work. Thus, a 2,700 cooling.

Government: 1.03 million workers – up 11,600 in a year vs. 12,500 annual gains in 2015-19. This 900 dip is status quo.

The ups

Ponder the five industries where the hiring pace rose in the past year, ranked by the size of the gains …

Social assistance: 512,300 workers – up 28,200 in a year vs. 18,300 annual gains in 2015-19. The 9,900 addition comes as more folks need help at home for healthcare and child care.

Advertisement

Healthcare: 836,700 workers – up 30,100 in a year vs. 20,900 annual gains in 2015-19. The 9,200 growth parallels the region’s aging population and its need for medical services.

Retailing: 748,300 workers – up 8,300 in a year vs. 300 annual cuts in 2015-19. This somewhat surprising 8,600 improvement may be consumers tiring of online commerce and wanting to get out to shop.

Financial: 364,100 workers – up 4,400 in a year vs. 3,900 annual gains in 2015-19. The minor 500 improvement is a return to normalcy. Super-heated hiring came in the pandemic days thanks to a brief drop in mortgage rates to historic lows.

Private education: 215,700 workers – up 5,500 in a year vs. 5,100 annual gains in 2015-19. This 400 uptick reflects the growing interest in alternatives to public schooling.

Bottom line

While it’s rare for all industries to be growing at the same time – minus, say, just after an economic downturn – this 2024 edition of the winners vs. losers list raises an important issue.

Advertisement

It appears much of the past year’s job creation is coming from industries that historically pay meager wages. That’s an especially worrisome trend in high-cost Southern California.

Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com



Source link

Advertisement
Continue Reading

California

California Lottery Powerball, Daily 3 Midday winning numbers for Nov. 27, 2024

Published

on


The California Lottery offers multiple draw games for those aiming to win big. Here’s a look at Nov. 27, 2024, results for each game:

Powerball

01-06-07-13-40, Powerball: 05, Power Play: 5

Check Powerball payouts and previous drawings here.

Daily 3

Midday: 7-1-0

Advertisement

Evening: 4-9-6

Check Daily 3 payouts and previous drawings here.

Daily Derby

1st:11 Money Bags-2nd:3 Hot Shot-3rd:8 Gorgeous George, Race Time: 1:47.44

Check Daily Derby payouts and previous drawings here.

Fantasy 5

03-10-12-29-33

Advertisement

Check Fantasy 5 payouts and previous drawings here.

Daily 4

6-1-3-2

Check Daily 4 payouts and previous drawings here.

SuperLotto Plus

03-05-15-16-42, Mega Ball: 24

Check SuperLotto Plus payouts and previous drawings here.

Advertisement

Feeling lucky? Explore the latest lottery news & results

This results page was generated automatically using information from TinBu and a template written and reviewed by a Desert Sun producer. You can send feedback using this form.



Source link

Continue Reading

Trending