Retail sales were higher than expected in July.

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Mattel COO on Hot Wheels 2022 Legend Tour and NFTs
Mattel’s Hot Wheels 2022 Legend Tour will be coming to New York City after a tour of 14 countries and five continents. The company is also launching Hot Wheels into the NFT space with the Hot Wheels Garage allowing users to customize digital cars. Richard Dickson, president and COO of Mattel, joined Cheddar News to talk about the tour and the efforts the iconic brand is taking to stay relevant in the digital age. "I think as you look at what's successful brands and toy brands in particular in this particular chapter are going to be about nostalgic brands that have longevity," he said. "We're generational in the context of our portfolio."
This CEO Says He’s Reaching Out to Travis Kalanick Today for an Investment
Ghost Financial emerged from stealth to raise $2.5M from investors to provide financial tools to the growing ghost kitchens space. CEO and founder John Meyer joined Cheddar News to discuss the company's future plans as well as potentially getting former Uber CEO Travis Kalanick on board. "The one thing I can say about my time spent with Travis Kalanick is that he definitely believes in the future of Ghost kitchens, given that, he's gone all-in on Cloud Kitchens as a company," Meyer said. "So he's not an investor in us yet. We welcome it, and I'll probably reach out to him today and ask."
Pandemic Sparks Big Shift In Brand Loyalty
The pandemic has seen a historic shift in brand loyalty. Since the beginning of COVID-19, more than 75% of shoppers have changed their buying habits, and 39% have switched brands or retailers entirely, as inflation and supply shortages have forced them to rethink their purchases, according to McKinsey. Barbara Connors, VP of Commercial Insights at 84.51°, breaks down this shift in brand loyalty and how brands are adapting to it.
Omni Hotels & Resorts CEO On Staying On Track During The Pandemic
Despite headwinds from COVID-19, Omni Hotels and Resorts has been able to stay on track, with many new properties in the works. The hotel and resorts chain has also seen a 50% uptick in revenue across all of its locations compared to its levels in 2019. Peter Strebel, President & CEO of Omni Hotels & Resorts, joined Cheddar to talk about how Omni was able to emerge from the pandemic stronger than ever, and give insight into the expected summer travel surge.
Elon Musk To Join Twitter's Board Of Directors After Taking 9.2% Stake
Elon Musk is set to join Twitter's board of directors. This comes shortly after the Tesla CEO purchased a 9.2% stake in Twitter, sending shares surging as much as 27% and making him the largest shareholder in the social media company. Angelo Zino, Senior Industry Analyst at CFRA Research, joined Cheddar's Opening Bell to gives his take on the social media saga.
U.S. To Release 1 Million Barrels Of Oil A Day To Lower Gas Prices
President Biden has announced a historic release of oil from the U.S. reserves in an attempt to cut down surging gas prices across the country. The administration will release 1 million barrels of oil per day for the next six months, marking the largest withdrawal in the nearly 50-year history of the country's emergency supply of oil. Patrick DeHaan, Head of Petroleum Analysis at GasBuddy, breaks down why the Biden administration is making this unprecedented move, and what impact it could have on prices at the pump.
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