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What you’ll read?

• Walgreens Beats Q1 Expectations

• McDonald’s Adjusts CosMc’s Concept with Closures and Openings

• Today in AI & Tech

• Biden Cancels Italy Trip to Focus on California Wildfires

  and more…

BUSINESS

Nordstrom Ups Sales Outlook After Strong Holiday Performance

Nordstrom raised its full-year sales forecast following stronger-than-expected holiday shopping, with net sales up 4.9% and comparable sales increasing 5.8% over the nine-week holiday period. Despite higher sales, the company maintained its profit guidance and projected full-year revenue growth of 1.5% to 2.5%. This update coincides with the founding family's plan to take the retailer private through a $6.25 billion buyout deal. Full-year results will be reported on March 4.

McDonald’s Adjusts CosMc’s Concept with Closures and Openings

McDonald’s will close three larger-format CosMc’s locations and open two smaller restaurants in Texas, focusing on compact stores for its drinks-focused spinoff brand. Early successes include popular hash browns, mini doughnuts, and creative beverages like Island Pick-Me-Up Punch. The CosMc’s test will continue as McDonald’s explores the afternoon beverage market and learns more about customer preferences.

Chuck E. Cheese Revives with Modern Makeover and Family Entertainment Focus

Four years post-bankruptcy, Chuck E. Cheese is thriving after investing over $300 million in revamping its stores, adding trampolines, updated menus, and new partnerships to appeal to modern families. The chain has seen sustained sales growth, launched successful subscription programs, and plans to expand its mascot's presence through media and licensing deals.

Walgreens Beats Q1 Expectations While Cutting Costs for Turnaround

Walgreens reported fiscal Q1 earnings and revenue above expectations, with adjusted EPS of $0.51 and $39.46 billion in revenue. Despite a net loss of $265 million due to higher operating costs and planned store closures, all three business segments saw sales growth. CEO Tim Wentworth emphasized stabilizing the U.S. retail pharmacy business as key to the company’s turnaround.

TECH

Today in AI & Tech

U.K. Aims to Lead in AI with Homegrown Rival to OpenAI

The U.K. plans to bolster its AI capabilities, aiming to build a homegrown alternative to OpenAI while expanding computing infrastructure. Prime Minister Keir Starmer's government targets a twentyfold increase in sovereign computing capacity by 2030 and establishing AI growth zones to attract innovation. The plan emphasizes renewable energy, AI safety, and fostering public-private collaboration to position Britain as an AI superpower.

TikTok Creators Brace for Uncertain Future Amid Potential U.S. Ban

Former barista Jack Nader turned TikTok creator, now earning up to $12,000 monthly, faces uncertainty as the app nears a possible U.S. ban. Creators like Nader are diversifying to platforms like Instagram Reels and YouTube Shorts, while TikTok's dominance in short-form content makes its potential loss a major industry shakeup.

iPhone AI Sparks Concerns by Generating Misinformation

Apple's AI-powered notification summarization feature has been found spreading misinformation, such as falsely declaring Luke Littler a darts champion and Rafael Nadal's sexual orientation. These "hallucinations" in AI have raised alarms, prompting Apple to work on updates and transparency measures.

Other

Winter Storm Disrupts U.S. Flights, Delta Incident Adds to Chaos

Over 3,000 flights were canceled and 4,000 delayed on Friday due to a winter storm affecting the Southern U.S. Travel disruptions intensified when a Delta Boeing 757-300 aborted takeoff in Atlanta due to an engine issue, prompting passenger evacuations with minor injuries reported. Airlines, including Delta and American, waived fees to accommodate impacted travelers.

Amazon Ends "Prime Try Before You Buy" Amid Cost-Cutting

Amazon is discontinuing its "Prime Try Before You Buy" service on January 31, 2025, as part of CEO Andy Jassy’s cost-saving initiatives. The service, allowing Prime members to try clothes before purchasing, is being phased out in favor of AI-powered features like virtual try-ons and personalized size recommendations.

Tesla Recalls 239,000 Vehicles to Address Rearview Camera Issues

Tesla is recalling approximately 239,000 vehicles in the U.S., including 2024-2025 Model 3 and Model S and 2023-2025 Model X and Model Y, due to potential rearview camera failures increasing crash risk. The company has issued a free over-the-air software update to fix the issue and will replace affected components if necessary.

U.S. Military on Standby to Assist with LA Wildfires

The U.S. military is prepared to assist with wildfire containment in Los Angeles, with 500 Marines and 10 Navy helicopters on standby. While the state has not requested military help yet, FEMA's Deanne Criswell emphasized the importance of strategic deployment to ensure firefighter safety. With strong winds forecasted, officials continue to monitor and respond to the rapidly evolving situation.

It's a Wrap!

Thank you for joining us in this journey through the latest updates and insights. Your engagement and support mean the world to us. We hope you found this newsletter both informative and inspiring. Stay tuned for more exciting news and stories in our next edition.

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Warm regards,
Sarah