Walmart is closing four stores in Chicago, cutting its footprint in half in the third-largest U.S. city after years of mounting losses. The closings mark a retreat for the nation's largest retailer, which faces tough competition in Chicago from the likes of Target, Albertsons, and Aldi. Walmart said it had tried and failed to improve its performance by building smaller stores, localizing its merchandise offerings, and investing $70 million in recent years on store upgrades.
Scott Dobroski, career trend expert at Indeed, joined Cheddar News to discuss job trends in 2023 as the U.S. labor market remains robust despite some high-profile layoffs.
Nishant Jain, CEO & co-founder of dry-cleaning robotics startup Presso, joined Cheddar News to discuss the company’s latest seed round, raising $8 million, and how its garment care machines work with AI technology.
Ed Egilinsky, Managing Director, Head of Sales and Distribution & Alternatives at Direxion, joins Cheddar News to discuss how traders are navigating rising interest rates, the pros and cons to a 'risk on' mindset, and what to keep an eye out for as earnings season heats up.
