Red Lobster credits Beyonce for sales boost after Formation
Red Lobster reports a 33 percent sales surge on Super Bowl Sunday tied to Beyoncé's Formation mention and a new Lobsterfest promotion. CEO Kim Lopdrup calls the moment a helpful boost as the chain, now private under Golden Gate Capital, rides ongoing gains since a 2014 sale.
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Small business optimism slips near two year low
U S small business owners reduced their six month outlook as growth slows. The NFIB index fell 1.3 to 93.9, well below the 42 year average 98, a sign of wariness about future conditions.
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Sears to speed up store closings amid makeover
Sears Holdings Corp accelerates closures after a challenging holiday season. The retailer cites weak same store sales led by Sears and Kmart, plans about 50 store shutdowns, asset sales of at least $300 million in H1 2016, and ongoing options for its auto center business.
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