Thursday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines with Jane King.
Report: Valentine’s Day spending to reach $26 billion
The National Retail Federation found that Americans plan to spend $26 billion on the sweethearts in their lives this year, up from $24 billion last year.
That means 2023 could be one of the highest spending years on record for the holiday.
But given recent trends, some experts are concerned that the feelings of generosity surrounding this year’s Feb. 14 celebration will only contribute more to Americans’ already swollen credit card balances.
General Mills launches mini breakfast bundles
General Mills announced a new mini breakfast bundle offering items that pair with mini boxes of fan-favorite cereal.
Various limited-edition kitchen items will be included in a themed breakfast bundle to be released on Jan. 27.
The bundles will feature General Mills-themed items such as a Cinnamon Toast Crunch mini fridge.
Levi’s CEO: “Skinny jeans will never die”
Levi’s CEO tells Bloomberg that skinny jeans will never die.
He also says mid-rise jeans are the hottest item, reversing the ultra-high waistline trend.
But women’s skinny jeans — particularly the retailer’s 311 and 721 designs — are still the top-selling style.
IBM becomes latest tech company to cut jobs
IBM plans to cut about 3,900 jobs, equal to about 1.5% of its workforce.
The company described the cuts as mainly a result of earlier asset sales rather than a weakness in its business.
Big tech companies have been downsizing in earnest and slashing costs to better cope with the global economic downturn.
Study: Leaving kids at home can save $46 on shopping trips
Well, shopping without kids can save you an average of 46 dollars.
According to a survey commissioned by Slickdeals and conducted by OnePoll, 2 in 3 parents say shopping with kids tends to be more expensive than just shopping by themselves. Solo ventures cost an average of $133, while shopping with kids costs an average of $179.
Parents shared the other weirdest things their kids have asked for while shopping: slime, iPhones, a ferret, pig ear chew toys meant for dogs, and even a taxidermied alligator.