3 To Know: Bath & Beyond to close 150 stores, Apple event, more
1. Bed Bath & Beyond to close 150 stores
Bed Bath & Beyond to close 150 stores, cut 20 percent of jobs in efforts to save company millions.
Bed Bath & Beyond says that it will shutter stores and lay off workers in a bid to turn around its beleaguered business.
The home goods retailer based in Union, New Jersey, said it will close about 150 of its namesake stores and slash its workforce by 20 percent. It estimated those cuts would save $250 million in the company's current fiscal year. It also said it is considering selling more of its stock to shore up its finances and had lined up more than $500 million of new financing.
But it will keep its buybuy Baby chain, which earlier this year it considered selling.
As of May, the retailer operated a total of 955 stores, including 769 Bed Bath & Beyond stores, 135 buybuy Baby stores and 51 stores under the names Harmon, Harmon Face Values or Face Values. As of February, it had roughly 32,000 employees. – Anne D'Innocenzio/Associated Press
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2. An edit button is finally coming to Twitter, but you'll have to pay for it
Twitter announced that it is testing what is perhaps its most anticipated feature: an edit button.
The social media platform said it would begin testing an “Edit Tweet” feature internally before rolling it out in the coming weeks for users of Twitter’s paid version, Twitter Blue, which costs $4.99 a month in the U.S.
“Since this is our most requested feature to date, we want to make sure we get it right,” Lauren Alexander, a Twitter spokesperson, wrote in an email to USA Today. “From testing, we hope to quickly understand how this new feature is being used and its impact on the way people read and write Tweets.”
Twitter hopes the edit function will ease the pressure of tweeting, especially for users who don’t tweet as often, according to Jay Sullivan, Twitter’s general manager of consumer and revenue product. – Orlando Mayorquin/USA Today
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3. On Sept. 7, the “next big thing” in Apple land is happening
Expect to see four new iPhone 14 models, launch of a new Apple Watch and maybe even some upgraded AirPods — before (holy pumpkin spice latte, Batman!) — Halloween decorations dominate store shelves this year.
Apple’s hype-filled fall launches are a banner event for the gadget world. No matter how much the tech giant tries to keep its hardware secret, there’s an entire industry dedicated to leaks, rumors, whisper, and full-on gambling rings trying to out-crystal-ball each other over what’s to come.
For the iPhone, TF Securities Analyst Ming-Chi Kuo, my go-to for the most accurate of the rumor mill bunch, also predicts the new handsets will cost more, at roughly $150 more per model compared to an iPhone 13.
That would mark the biggest price jump in iPhone history and is a less solid rumor than others at this point. – USA Today
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