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Consumer Behavior

Reuters | Equities.com |

The four largest U.S. consumer banks posted blockbuster second-quarter results this week, after pandemic loan losses failed to materialize and the U.S. economy began roaring back to life.

Wells Fargo & Co, Bank of America Corp, Citigroup Inc and JPMorgan Chase & Co posted a combined $33 billion in profits, buoyed by the release of $9 billion in reserves they had put aside last year to absorb feared pandemic losses.


Kimberly Redmond | Equities.com |

Apple Inc (Nasdaq: AAPL) plans to launch a service that will enable users to repay Apple Pay purchases over several installments, according to Bloomberg News.

Citing sources familiar with the matter, Bloomberg reported Tuesday that the tech giant will partner with Goldman Sachs Group (NYSE: GS) as the lender for loans issued through the new “Apple Pay Later” feature.


Kimberly Redmond | Equities.com |

PayPal Holdings Inc announced Tuesday it has begun rolling out a feature across the US that will let consumers use cryptocurrency to pay at millions of the platform’s online merchants.

Now, customers who hold bitcoin, Ethereum, Litecoin or bitcoin cash in their PayPal digital wallets will be able to instantly convert it into fiat currencies at checkout to complete purchases safely and securely, according to PayPal.


Kimberly Redmond | Equities.com |

As lockdown restrictions ease across the US, Regal Cinemas, the nation’s second largest theater chain, will reopen following a six-month pandemic-related shutdown.

On Tuesday, Regal’s parent company, Cineworld Group plc (OTC US: CNWGY), said about 500 locations will open April 2, with the release of Godzilla vs. Kong. More theaters across the country will welcome back guests for the April 16 release of Mortal Kombat.


Kimberly Redmond | Equities.com |

AMC Entertainment Holdings Inc (NYSE: AMC), the world’s largest movie theater chain, announced it will open 98% of its US locations starting Friday and 99% of its theaters by March 26, a promising sign after the company was almost forced to declare bankruptcy earlier this year.

The chain’s announcement on Thursday comes almost a year after many of its theaters were shut due to rising coronavirus cases.


Reuters | Equities.com |

Alphabet Inc’s Google will cut the service fee that it charges developers on its app store by half for the first $1 million in revenue they earn every year, it said on Tuesday, after a similar move by rival Apple Inc last year.

Both the companies have come under fire from large firms such as Microsoft Corp, Spotify Technology SA, as well as startups and smaller companies, that allege the fees deprive consumers of choices and push up the price of apps.


Kimberly Redmond | Equities.com |

As part of a plan to focus on its e-commerce business, The Walt Disney Co (NYSE: DIS) announced Wednesday it will significantly reduce its brick-and-mortar footprint, starting with the closure of at least 60 Disney Store locations in North America, about 20% of its worldwide total, before the end of 2021.

In a press release, Stephanie Young, president of consumer products games and publishing, said, “While consumer behavior has shifted toward online shopping, the global pandemic has changed what consumers expect from a retailer.”


Kimberly Redmond | Equities.com |

Grocery chain Trader Joe’s and Walmart’s Great Value products are among the “most loved brands” by shoppers, according a newly-released analysis of consumer sentiment.

In its fourth annual TotalSocial Brand Awards, Engagement Labs, a data and analytics firm, looked at more than 650 US brands across various consumer categories to find the ones that generated the most positive word of mouth in 2020.


Reuters | Equities.com |

Best Buy Co Inc signaled a slowdown in the coronavirus crisis-driven demand for remote-work computer equipment on Thursday as it missed holiday-quarter sales estimates, sending its shares down 6% in premarket trading.

More people setting up home offices and schools switching to remote learning pushed up demand for laptops, webcams, and other computer accessories last year, making Best Buy one of the bigger retail winners of the COVID-19 pandemic.


Kimberly Redmond | Equities.com |

Hormel Foods Corporation announced Thursday that it has agreed to buy the Planters nut business from the Kraft Heinz Company for $3.35 billion in cash.

The sale, expected to close during the first half of this year, includes most products under the Planters brand, including single variety and mixed nuts, trail mix, Cheez Balls, Cheez Curls and Nut-rition products. It also includes the Corn Nuts brand.

The Minnesota-based company, which is best known for its m...