We're a week into the Olympics and by now most viewers have noticed that Ralph Lauren, Nike and Under Armour are the official sponsors of Team USA gear. Joining The Long and The Short to discuss the benefits of outfitting Team USA is Nick Martell and Jack Kramer, Co-Founders & Co-CEOs of MarketSnacks.
Ralph Lauren shocked many when it dressed Team USA in suede gloves during the opening ceremony. The internet was quick to point out they were reminiscent of a scene from "Dumb and Dumber." The gloves were on sale after the ceremony for $1,000 and are already sold out! Martell and Kramer say that Ralph Lauren really needs to capitalize on post-Olympic buzz and try to bring more people into their brick-and-mortar store, after a struggle with its online sales.
Plus, Nike may be outfitting the athletes when they receive medals, but it's also teaming up with Snap. The apparel company was the first non-Snap company to sell product on the platform, pushing its Air Jordan III "Tinker" shoes after the All-Star NBA game on Sunday night. Martell and Kramer say this was Nike's attempt at appealing to a younger, more millennial, audience.
Peacock shared the trailer for the second season of the celebrity competition show, 'The Traitors.'
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
