By Francesca Fontana
United Airlines Holdings Inc.
Changing flights just got cheaper. United Airlines became the first U.S. carrier to permanently end flight change fees for most domestic tickets, the latest effort to boost sluggish demand in the air-travel industry. American Airlines Group Inc. and Delta Air Lines Inc. on Monday followed suit, a day after United's announcement. Change fees, along with baggage charges, have been a strong source of revenue for airlines and a target for criticism from consumers and lawmakers. United shares fell 3.6% Monday.
"His Airness" is joining DraftKings. The sports-gambling company said on Wednesday that NBA legend Michael Jordan agreed to purchase an undisclosed stake in DraftKings and become a special adviser to its board of directors, effective immediately. Mr. Jordan, who is considered one of the greatest basketball players of all time, was the first former player to become the majority owner of an NBA franchise. His partnership with Nike Inc. remains one of the most lucrative franchises in sportswear. DraftKings shares rose 8% Wednesday.
It's no Miracle on 34th Street, but there is reason for more optimism at Macy's. The department-store giant on Wednesday reported $3.6 billion in sales in its recent quarter, up from $3 billion in the previous quarter, and a quarterly loss of $431 million. Interim Chief Financial Officer Felicia Williams said the results were stronger than anticipated, as digital sales improved, stores recovered faster than planned, and sales of luxury goods outpaced expectations. Sales of apparel have remained sluggish as more people continue to work from home, and the back-to-school season has gotten off to a slow start as delays to in-person school in various districts have elongated the season, Ms. Williams said. Macy's shares rose 0.6% Wednesday.
Amazon Prime, meet Walmart+. On Sept. 15, the retail giant will launch Walmart+, a $98-a-year membership that includes free grocery delivery, a discount on gas from Walmart parking lots and the ability to check out via a mobile phone in stores. The new offering is Walmart's latest attempt to build a membership program that can rival Amazon.com Inc.'s Prime service. The Walmart+ program is a version of one Walmart has tested since last year called Delivery Unlimited, which also offers free grocery delivery for $98 a year. In 2017, Walmart scrapped a previous attempt at a membership program called ShippingPass, which offered free shipping on Walmart.com orders. Shares gained 6.3% Tuesday.
Facebook is taking steps to halt election-related misinformation in November. Chief Executive Mark Zuckerberg said on Thursday that the social-media giant will prohibit new political advertisements in the week before the U.S. presidential election and seek to flag premature claims of victory by candidates, steps meant to head off last-minute misinformation campaigns and limit the potential for civil unrest. "This election is not going to be business as usual," he said, noting both the difficulties of voting during a pandemic and likely attacks on the credibility of the results. Facebook shares fell 3.8% Thursday.
Campbell Soup Co.
Campbell is cooling. The soup giant said demand for its soups and other grocery staples is moderating after a monthslong surge fueled by consumers eating at home during lockdown orders. The company expects the deceleration in sales growth to continue in coming months as people return to a more pre-pandemic lifestyle. After getting a chance to win back consumers who had gravitated away from processed, packaged foods in recent years, Chief Executive Mark Clouse said he is focused on retaining shoppers who started cooking with its soups amid the pandemic. Campbell shares fell 7.5% Thursday.
Apple users will have to wait longer for an alert about apps that monitor them. The company is delaying a privacy prompt feature that had been set to go into effect this fall, but will now be introduced next year. The new feature will ask iPhone users on an app-by-app basis if they consent to having their behavior tracked. An Apple spokesman said that the company wants "to give developers the time they need to make the necessary changes." Critics of the change say it would hurt app makers by making it harder to sell personalized ads. Apple shares fell 8% Thursday.
Write to Francesca Fontana at firstname.lastname@example.org