Business News Weekly ─ January 6, 2020
“YouTube child star builds retail empire” ─ from an article in the Wall Street Journal. This is such an exciting occurrence it is worth mentioning again with a little more detail. Known for “unboxing” toys online videos, 8–year–old Ryan sits atop $150 million brand. Ryan made his name opening boxes of toys in YouTube videos.
- Ryan has 20 million subscribers to the Ryan’s world channel on YouTube
- Walmart and Target keep devoting more shelf space to sell the toys and other gear touted by Ryan Kaji.
- Ryan made his name by opening boxes of toys on line and made that into a formal franchise on the TV show on children’s cable Nickelodeon and deals with Walmart and Target to sell his own line of toys.
Apple explores deals with Pac-12, MGM to feed its TV service.
“Walgreens’ shares fall 5% on earnings miss as pharmacy chain grapples with more competition” ─ from CNBC. Here’s what Walgreens reported for its first quarter ended Nov. 30 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $1.37 adjusted, vs. $1.41 expected
- Revenue: $34.34 billion, vs. $34.6 billion expected
“Bed Bath & Beyond will delay 20 store closures” ─ from CNBC. Bed Bath & Beyond said Wednesday that it would delay closing 20 of its namesake stores. The company originally planned to close 60 locations, including 40 Bed Bath & Beyond stores, in fiscal 2019. Twenty of those Bed Bath & Beyond closures will be delayed until after the first half of fiscal 2020 in order to sell more of their merchandise.
“Apple customers spent $1.4 billion on the App Store in a single week” ─ from CNN. IPhone and iPad owners had quite the busy end to 2019.
Apple (AAPL) customers spent $1.42 billion on apps between Christmas Eve and New Year’s Eve, a 16% jump from 2018, Apple said Wednesday. On New Year’s Day alone, the company said it set a single-day sales record of $386 million for apps, an annual increase of 20%. App developers have earned more than $155 billion since the App Store opened in 2008, the company noted in a statement.
Technology IPOs will face a much higher bar. Many of the high tech companies with IPO’s in 2019 ended with selling prices now below their price.