HEADLINES IN THE SPOTLIGHT
AMERICANS LOVE TJ MAXX, HERE’S WHY BIG BRANDS DO, TOO American shoppers are increasingly trading down from department stores and opting to spend their money at off-price retailers. TJX Companies is the largest player in the off-price industry and has helped to change the way Americans think about the discount space. TJX Companies, which owns Marshalls, HomeGoods, and T.J. Maxx, has nearly doubled its annual sales over the past decade, reaching $54.2 billion in fiscal 2024. Part of that success has come from changing the way it merchandizes its stores. For this to benefit the brands, selling to off-price stores must be done discreetly. One way that T.J. Maxx accomplishes this is by making designer brands unsearchable on its website. Siegel says that if a company sells its inventory to T.J. Maxx, there is less brand dilution than if it were advertising clearance sales in its own stores.
TOM BRADY EXPECTED TO BECOME PART OWNER OF NFL’S LAS VEGAS RAIDERS National Football League owners are expected to approve Tom Brady as minority owner of the Las Vegas Raiders. The seven-time Super Bowl champ is looking to buy about a 10% stake in the Raiders with his business partner, Knighthead Capital founder Tom Wagner. The price Brady would pay for his stake is unclear. But the Raiders are the NFL’s fifth-most valuable franchise, worth $7.8 billion. The deal is subject to approval by 24 of the NFL’s 32 team owners at the league meeting in Atlanta. Brady’s bid for a piece of the team began in May 2023, making Brady just the third former NFL player to become a team owner. After he first retired from the NFL, Brady signed a 10- year, $375 million broadcasting deal with Fox Sports in 2022. If he is approved for ownership, it will come with restrictions on how he covers the team
HURRICANE MILTON COULD CAUSE AS MUCH AS $175 BILLION IN DAMAGE Hurricane Milton’s once-in-a-century potential could cause damage of more than $50 billion, with the potential to leave behind devastation approaching $175 billion or more in a worst-case scenario, according to leading Wall Street analysts. That would be on top of the carnage already left behind by Hurricane Helene, posing a potential record-breaking path of wreckage. The extent of the potential is hard to pin down and will depend on timing and location, with a landfall closer to Fort Myers being less costly. For a historical comparison, analysts need only to look back two years, when Hurricane Ian hit near the Fort Myers area as a Category 4 storm and left behind more than $50 billion in losses. Ian was considered a 1-in-20- year event.
GOOGLE SIGNS DEAL WITH NUCLEAR COMPANY AS DATA CENTER POWER DEMAND SURGES Google advised that it would purchase power from small modular reactor developer Kairos Power, as tech companies increasingly turn to nuclear power as a way to fulfill the growing energy demands from data centers. The tech giant said it will purchase power from a fleet of SMRs made by Kairos Power. Google said purchasing from multiple SMRs sends an “important demand signal to the market,” while making a long-term investment to accelerate commercialization. There are only three SMRs that are operating in the world, and none in the U.S. The hope is that SMRs are a more cost-effective way to scale up nuclear power. In the past, large, commercial-scale nuclear reactor projects have run over budget and behind schedule, and many hope SMRs won’t suffer that same fate. But it is uncharted territory to some extent.
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