Retailers and consumers are entering the first holiday shopping season in three years without crushing supply-chain pressures, and that means store shelves will be full. Retailers will be working through gluts in product categories from toys to furniture - a sharp contrast with the scramble for goods over the past two years.
Disney’s board of directors has ousted CEO Bob Chapek in favor of Robert Iger, the company’s former chairman and CEO, who left the company at the end of last year. The board’s statement said it concluded that as “Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the company through this pivotal period.” The surprise change comes at a tumultuous time for Disney, which recently reported weaker-than-expected quarterly financial results. Also, losses are widening in the streaming video business.
Markets open mixed today after stocks closed higher on Friday. The Dow Industrials gained 199, the Nasdaq edged up 1 and the S&P 500 added 18.
