Wall Street Journal + Business News for Monday, June 6, 2022

This feels like the first normal week after several filled with traveling. Next week, I’m gone again so I’m trying to revive my normal routines! Here are your Wall Street Journal and business notes for Monday, June 6, 2022.

1. Retailers are scratching their head about what to do with excess items that were in demand at the height of the pandemic but customers aren’t buying anymore! Ross, Kohls and Carter’s are stores who have increased inventory and negative sales increases. While Target, TJX, Footlocker, Walmart and Bath & Body Works seen in creases in sales but not nearly enough to cover the inventory they have in stock. Look out for good sales at the end of the season.

2. Starbucks said they may not consider internal candidates for the role CEO. They need someone fresh to lead them into their future. Should be interesting to see who they select.

3. There are 21 confirmed Monkeypox cases in the US!

4. Revlon is heading towards bankruptcy but is looking to lenders to help them avoid what May be their reality. What kind of person buys revlon in this current market? I’m curious.

5. Apple is hosting its week-long Developers conference this week. Apple is making most of its money via services, games and advertisements. Expect ios16, new iPhones, etc. I am STILL rocking my iPhone 8 Plus.

6. The nations top baby formula producer, Abbott, said they have resumed production at their Michigan plant after being shut down since February due to contamination issues. They plan to release the first wave of their “new” product on June 20. At this point, I hope folks have learned about making their own or something. This is a mess.

7. A historic first in medicine. A study found that 100% of rectal cancer patients who took the same drug are cancer free. The study was published by New England Journal of Medicine.

8. January 6 hearings start this week and will Be televised. Watch!

9. Folks are confused by an email from Elon Musk. He said he would be reducing workforce by 10% at Tesla but then said it would remain “fairly flat.” Which one, man?

Check out my podcast! -> seasoned with salt.com

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