Stitch Fix Inc

Shoppers walk past a Bloomingdale's store in the SoHo neighborhood of New York, US, on Wednesday, Dec. 28, 2022.Victor J. Blue | Bloomberg | Getty ImagesAfter benefitting from a pandemic-era shopping spree, retailers are preparing for a reality check.Walmart and Home Depot will kick off retail earnings season Tuesday by sharing holiday-quarter results. Other big-name retailers will follow, including big-box players like Target and Best Buy, and mall staples like Macy's and Gap.The companies' reports will come as recession…

Katrina Lake, CEO of Stitch FixAdam Jeffery | CNBCStitch Fix founder Katrina Lake on Thursday told employees the company will be cutting 20% of its salaried workforce and she will reassume her post as CEO as the fledgling apparel company continues to grapple with low sales, a dwindling customer base and a reduced market cap.The brand's current CEO, Elizabeth Spaulding, who joined the company as president in 2020 and took over as CEO in August 2021, will be stepping down effective immediately, Lake said."I will be stepping…

A sign is posted in front of the Gilead Sciences headquarters on April 29, 2020 in Foster City, California.Justin Sullivan | Getty ImagesCheck out the companies making the biggest moves midday:General Mills — General Mills dropped 4.2%, despite reporting better-than-expected revenue and profit for the last quarter. The food producer also raised its full-year forecast. Higher prices partially offset increased output costs.Gilead Sciences — Gilead Sciences sank 2.4% after announcing its Kite unit would acquire biotech…

Check out the companies making headlines before the bell:Campbell Soup (CPB) – Campbell Soup beat estimates by 14 cents with adjusted quarterly earnings of $1.02 per share. Revenue also beat consensus and the food producer said its results were helped by strong pricing, improved productivity and supply chain improvements. Campbell Soup rose 1.2% in the premarket.Pinterest (PINS) – Pinterest rose 1.2% in premarket trading after an official from activist investor Elliott Management was added to the image-sharing website…

Walmart launched its subscription service, Walmart+ in 2020. It has added perks, including deeper gas discounts and free access to Paramount+.WalmartAmericans have tons of subscriptions.Even with inflation, Walmart thinks they're willing to pay for one more.Walmart's subscription service is Walmart+. The program includes benefits such as free shipping for online purchases, free deliveries from the store and gas discounts. It debuted in September 2020, a time when many shoppers were trying to avoid stores because of…

A selection of men's clothes packaged by Trunk Club, which was shuttered earlier this year after Nordstrom bought the personal styling service in 2014.Source: Trunk ClubAfter earning a master's degree a decade ago, David Hill wanted to amp up his personal style and signed up for the Trunk Club, which promised to mail him boxes of clothing tailored to his tastes as often as he liked.Hill would visit the company's Chicago showroom to meet with a stylist and pick outfits he could wear to the office or for special occasions.…

Passengers at an American Airlines gate at the Dallas/Fort Worth International airport in Dallas.Scott Mlyn | CNBCIt wasn't long ago that Amazon, Shopify and Peloton doubled their workforces to manage through the pandemic surge, while Morgan Stanley staffed up to handle a record level of IPOs, and mortgage lenders added headcount as rock-bottom rates led to a refinancing boom.On the flipside, Delta Air Lines, Hilton Worldwide and legions of restaurants slashed headcount because of lockdowns that rolled through much of the…

Check out the companies making headlines before the bell:Delta Air Lines (DAL) – Delta shares slid 2.9% in the premarket after reporting a mixed quarter. The airline earned an adjusted $1.44 per share for the second quarter, shy of the $1.73 consensus estimate. Revenue exceeded estimates on strong travel demand, but margins took a hit from higher fuel prices and higher operational costs.Twitter (TWTR) – Twitter added 2% in premarket trading after the company sued Elon Musk to force him to adhere to the terms of their $44…

Tonal in-home fitness.Source: TonalTonal, the connected fitness equipment maker that counts tennis superstar Serena Williams and Amazon's Alexa fund as backers, is cutting 35% of its workforce, affecting all levels of its business, CNBC has learned.The company employs about 750 people today, compared with a little more than 110 before the Covid-19 pandemic, Chief Executive Officer Aly Orady said in an interview.Orady also emphasized the need to be profitable, particularly as the company eyes an initial public offering.…

CNBC's Jim Cramer on Friday warned investors that stock of some newer companies that saw smashing success during the pandemic are continuing to come down – and this may just be the beginning."When your stock doesn't have any dividend support and doesn't have a reasonable valuation versus earnings – assuming it even has earnings – there's no floor in this market. If you find yourself asking, how low can it go? The answer is almost always lower," the "Mad Money" host said."Never confuse a big decline with a bottom. They are…