Lily Chang, autor en Bean watcher

Aug

2024

Macy’s lowers annual sales forecast in the face of retail challenges

Macy's on Wednesday announced a downward revision to its annual sales forecast, acknowledging difficulties in attracting discerning shoppers and the need for more promotions. Despite beating Wall Street expectations for earnings, the popular department store chain reported lower-than-expected revenue for the quarter. The company now expects its net sales to be between $22.1 billion and $22.4 billion, down from the previously estimated range of $22.3 billion to $22.9 billion. This change also signals a potential year-over-year decline from the $23.09 billion reported in fiscal 2023. Macy's forecasts a decline in comparable sales, which measures performance excluding new or closed stores,…

Aug

2024

By Lily Chang

U.S. government brings antitrust action against RealPage for alleged collusion in rentals

Science and Technology

On Friday, the U.S. Department of Justice filed an antitrust lawsuit against RealPage, a major real estate software provider. The case alleges that RealPage’s software played a critical role in allowing landlords across the country to collude and artificially inflate rental prices. The lawsuit, backed by several states including North Carolina, California, Colorado, Connecticut, Minnesota, Oregon, Tennessee and Washington, alleges that RealPage facilitated a pricing conspiracy that negatively impacted the rental market, affecting millions of renters. It marks a significant case in which the role of an algorithm in pricing strategies is at the forefront of legal scrutiny. Attorney General…

Aug

2024

By Lily Chang

2024 Olympics memorabilia awards highlight U.S. women’s basketball, celebrity items

Politics

The recently concluded 2024 Olympics not only showcased outstanding athletic performance, but also set a new standard for collectible memorabilia, drawing significant attention to U.S. women’s basketball stars and celebrity-designed merchandise, including a popular series of Snoop Dogg pins. As collectors and fans alike race to acquire these unique items, the Olympic Games have proven once again to be a breeding ground for not only sports excitement but also a thriving collectibles market. This year, U.S. women’s basketball team memorabilia and Snoop Dogg’s uniquely designed pins took center stage, earning top honors at the 2024 Olympic Collectible Awards. U.S. women's…

Aug

2024

By Lily Chang

Mpox vaccine supply challenges in Africa amid regulatory hurdles

Health

Despite stockpiles ready for distribution, delivery of Mpox vaccines to African nations in dire need remains hampered by intricate regulatory processes under the guidance of the World Health Organization (WHO). This has raised significant concerns about preparedness and response to potential health crises in the region. As the world focuses on global health security, the situation in Africa, particularly in the Democratic Republic of Congo, stands out as a critical concern. The country, which is at the center of the recently declared Mpox health emergency, has been waiting for vaccines for over two years, a demand that remains unmet to…