New York (CNN Business) Decades-high inflation is leading to a split in American consumers' behavior. Affluent shoppers are splurging on new outfits at Macy's, Nordstrom and other high-end outlets, while lower-income customers are pulling back on discretionary items, leading retailers say. Macy's ( M ) said Thursday that comparable sales at stores open for at least one year grew 12.4% during its latest quarter compared with the same stretch a year ago. "While macroeconomic pressures on consumer spending increased during the quarter, our customers continued to shop," Macy's CEO Jeffrey Gennette said in a press release. What rotisserie chicken prices say about stores' inflation strategy Macy's saw a "notable shift" in consumers buying clothes for special events and shopping in stores, Gennette said. Dresses, women's shoes, accessories and men's tailored clothing saw strong sales performance during the quarter. … [Read more...] about Wealthy shoppers are splurging at Macy’s. Low-income shoppers are pulling back at Walmart
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‘I wouldn’t trust them.’ Energy Secretary blasts Russia for ‘weaponizing’ energy
New York (CNN Business) Russia has spent the past half-century attempting to build a reputation on the world stage as a reliable supplier of energy. It took Vladimir Putin mere months to cast serious doubt on that reputation. "I wouldn't trust them," US Energy Secretary Jennifer Granholm told CNN in response to a question about whether Russia will ever again be considered a reliable energy supplier. "They have to prove they are a reliable partner and they're certainly not doing that." Russia's invasion of Ukraine and the ensuing sanctions from the West have sent oil prices skyrocketing, lifting gasoline and diesel prices in the United States to unprecedented levels. Natural gas prices also have climbed around the world. Biden is 'obsessed' with lowering 'outrageous' gas prices, but presidents don't control prices, says Energy Secretary After the West imposed tough penalties on Russia, Putin warned that "unfriendly" nations would … [Read more...] about ‘I wouldn’t trust them.’ Energy Secretary blasts Russia for ‘weaponizing’ energy
How to Find Your Leadership Voice
One of the first steps in discovering your leadership voice is understanding your strengths and weaknesses as a leader. You can do this by evaluating how you interact with others, assessing your communication skills and reflecting on any feedback you've received from colleagues or clients. Next, let's look at other factors that help you find your leadership voice that communicates true confidence. Define your core beliefs and values As a leader, it's essential to understand what you believe in and what you value. This will help you make decisions that are aligned with your beliefs. Having clarity on beliefs and values will also help you develop the vision and mission for your business or career, in addition to communicating your goals and objectives to other leaders. These values act as your internal compass, helping you make decisions that align with your personal beliefs and ethics. Some examples of core values could include integrity, honesty, fairness or compassion. … [Read more...] about How to Find Your Leadership Voice
Website Builder Features That Will Boost Your Agency’s Bottom Line
Over the years, the popularity of website builders has skyrocketed. According to BuiltWith , over 16.7 million sites on the entire internet have been developed using a web builder. While the ability to create a professional-looking website with minimal effort and skill level is appealing to business owners and bloggers, using a website builder can also be a game-changing revenue driver for marketing and creative agencies that spend time and resources on churning out multiple websites a month. There are a myriad of low-code solutions on the market that enable agencies to onboard more clients and deliver striking websites at an increased rate for a fraction of the cost. However, not all web builders are equal. Features that will help one agency drive productivity are not going to benefit agencies that want to scale and drive revenue . It's important for agencies to be aware of the low-code/no-code builder features that will boost their bottom line. User-friendly interfaces for … [Read more...] about Website Builder Features That Will Boost Your Agency’s Bottom Line
Raise Capital, Make Acquisitions, and More with Deal Desk
Making deals is one of the most important (and fun) parts of being an entrepreneur. But while there's all kinds of negotiation philosophy , one thing is pretty obvious: You want to make deals, partnerships, and acquisitions that make your company stronger. Sometimes, that's not about scouring the Earth and networking endlessly to find the perfect pairing. Sometimes, it can be as easy as booting up a Deal Desk Premium Plan. Deal Desk claims to be the easiest and most convenient way to source new deals, find new investors, organize your deal flow, and close . Whether you're looking for an influx of cash and are willing to part with some equity, you want to grow through acquisition, or you think you can make some money with a partner, Deal Desk makes it easy to find the right arrangements for your current desires. Deal Desk gives you access to a database of more than 20,000 vetted founder and investor contacts as well as data on more than 1,000 startups for sale aggregated from … [Read more...] about Raise Capital, Make Acquisitions, and More with Deal Desk
What Exactly Is A “Porterage” Fee? It’s a Great Example of What You Shouldn’t Be Charging Your Customers
Can you guess what a “porterage fee” is? No, don't Google it. Just take a guess. I couldn't guess. I've never heard of it. But I wound up paying it — $25 — during a recent stay at a resort hotel in Hawaii with my wife. In addition to the $359 daily room rate (and the $62.53 for general, excise, county and — ready? — a localized "transit accommodation tax") I was also charged a daily $5 "housekeeping" and $50 "resort fee" and, of course, the one-time $25 "porterage" fee. When I asked at check-in what the "porterage fee" was for, I was told it was the fee for taking our luggage to our room. One hotel (not the one I stayed at) defines it as “a fee that may be given to a group or individual guest for the use of a doorman and bellboy. This fee is commonly given to large groups in hotels, hotels with unions and resort hotels where a gratitude is automatically charged to a guest through a porterage fee.” Ahhhh...mystery solved. No matter that my wife and I each had just one suitcase … [Read more...] about What Exactly Is A “Porterage” Fee? It’s a Great Example of What You Shouldn’t Be Charging Your Customers
At A Career Crossroad? Palos Counselor Offers Virtual Career Workshop
0 Business National Certified Career Counselor Jessica Loftus, Ph.D., is offering a free virtual workshop May 25 "Gear Up For A New Career." Lorraine Swanson , Patch Staff Posted Reply PALOS HEIGHTS, IL — If you were one of the millions of American workers who left their job in 2021 and are wondering about your next move, Jessica Loftus, Ph.D. , a career counselor based in Palos Heights, will host a virtual career workshop from 7 to 9 p.m. Wednesday, May 25. Loftus is the recent recipient of the 2022 Best of Palos Heights Award in the career counselor category by the Palos Heights Award Program. She's a licensed clinical psychologist and National Certified Career Counselor . Her free workshop, "Gear up for a New Career," will be open to all adults (18 and over), with priority given to Palos Heights residents. Workshop topics include practical steps to making a career decision, current occupational trends, pandemic concerns … [Read more...] about At A Career Crossroad? Palos Counselor Offers Virtual Career Workshop
3 Things to Consider When Automating Your Workflows
Just a few years ago, automation was looked upon as something mystical. Would it make half the workforce redundant, lead to mass unemployment and universal basic income? People wrote books about robot takeovers, and the media wrote articles with titles like "Will AI Replace [insert job function]?" Today, it seems like we have a more pragmatic view of automation. We no longer seem to be afraid of mass unemployment. On the contrary, labor shortage and Great Resignation waves are on everybody's lips. This gives automation an entirely new dimension as a technology that helps modern businesses stay afloat in a difficult talent economy. In addition to that, we seem to have realized that automation is not here to replace us. It's here to augment us, make us better at our jobs and help us get rid of tedious and mundane manual work. So, we get more time to be creative and strategic or even go home early to spend more time with our families. As a CEO of a SaaS business that provides … [Read more...] about 3 Things to Consider When Automating Your Workflows
Average long-term mortgage rates fall; 30-year loan at 5.1%
WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for the second week in a row, though interest rates on the key 30-year home loan remain at decade-high levels. Economic uncertainty and weakened homebuyer demand continue to loom over mortgage rates. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate declined to 5.1% from 5.25% last week. By contrast, the average rate stood at 2.95% a year ago. The average rate on 15-year, fixed-rate mortgages, popular among those refinancing their homes, dipped to 4.31% from 4.43% last week. Earlier this month, the Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point and signaling more big rate hikes to come. The Fed’s move, its most aggressive since 2000, means higher costs for mortgages as well as credit cards, auto loans and other borrowing for individuals and businesses. Higher borrowing rates appear to be slowing … [Read more...] about Average long-term mortgage rates fall; 30-year loan at 5.1%
Why Are Your Instagram Messages Black? How to Fix the Annoying Problem
Following Instagram 's latest update, social media users worldwide are facing a couple of frustrating developments: an inability to use filters on their Instagram story, encountering an "unable to use effect" error message, and, as of early Thursday morning, blacked out Instagram direct messages. Both iPhone and Android users are up against the social media issue, and some shared screenshots of it on Twitter, revealing messages that were both entirely and partially blacked out on the Instagram app. My Instagram messages were all showing up with a black box around them or being completely blacked out - came on here and it’s kinda of a relief I’m not alone in this tbh - lmk if any of y’all find a solution please Why are Instagram messages black? Although Instagram has yet to address the worldwide message blackout, it appears the social media platform itself is experiencing the glitch, as reports of the irritating error aren't limited to certain mobile devices or … [Read more...] about Why Are Your Instagram Messages Black? How to Fix the Annoying Problem
