#sales-decline

#sales-decline

Maserati is offering huge discounts for its electric cars. The Grecale Folgore electric SUV's rebate could buy you a well-maintained used Tesla Model 3. However, the electric GranTurismo and GranCabrio's discount is enough for a brand-new Model Y Premium All-Wheel Drive. Maserati isn't doing great, folks. Its global sales haven't stopped falling this year, with the Italian brand recording a 32% drop in sales in the first half, followed by another 19% decrease in the third quarter.

In 2023, Tesla CEO Elon Musk promised that his EV maker's upcoming Cybertruck would sell like hotcakes, delivering between 250,000 and 500,000 units per year once the company hit its stride. But over two years later, Tesla hasn't even gotten close, in yet another instance of Musk vastly overpromising while severely underdelivering. In reality, the carmaker's pickup truck has flopped hard, not even selling 20,000 units this year.

Store closures have emerged as an ominous through line across the retail business landscape this year, with decades-old chains trimming their physical footprints, seeking Chapter 11 bankruptcy protection-sometimes twice in one year-and even winding down operations altogether in some cases. Petco Health and Wellness Company is not facing such dramatic dire straits yet, but the beloved pet retailer has been reevaluating the size of its brick-and-mortar fleet as it struggles to lift its bottom line.

Target announced on Wednesday that its Chief Operating Officer (COO), Michael Fiddelke, will assume the position of Chief Executive Officer (CEO) in February 2026. The company's current CEO, Brian Cornell, who has been in the role for 11 years, will retire that month. "There is no one better suited to move Target forward than Michael Fiddelke," Cornell stated in a news release. "He brings a remarkable level of resolve in the face of complex challenges, a deep passion for growth, and a natural ability to inspire those around him to define what's next."

"I think the underlying trend ... is really tied to the consumer sitting on the sideline," he said, citing increased price sensitivity, an uncertain economic climate, and the challenge of lapping last year's promotional successes.

Sweetgreen's shares dropped more than 25% after slashing its revenue outlook for 2025, now expecting between $700 million and $715 million.

In the latest quarter, Mattel's dolls category saw a 19% drop in sales, totaling $335 million, primarily due to fewer new Barbie launches.

Sales of the Cybertruck plunged 51% year-on-year in Q2 to just 4,300 vehicles, according to Cox Automotive, showing significant declines in demand for Tesla's electric pickup.

London EV Company (LEVC) has announced it will cut approximately 180 manufacturing jobs at its Ansty site due to a significant decline in sales and increasingly challenging automotive conditions. Demand for electric hackney carriages has been affected by rising costs and ongoing reductions in the number of drivers, prompting the need for restructuring to ensure the future of the London black cab.

Jaguar Land Rover's quarterly sales fell by more than 10%, with total units sold decreasing from 97,755 to 87,286 compared to the same period last year.

Jim Cramer identifies Target as a value stock based on its current low valuation compared to historical standards and the S&P 500, despite ongoing challenges.

During the Zurich Art Weekend, a dehydrated dove fell from the sky, and after being nursed back to health, it felt like an omen for Basel week.

"I often think about the time I spent working in our restaurants as a General Manager, and it was immediately clear that crew members are the heart and soul of this brand."