Business news

1 Business The 46 Kohl's stores in Michigan may be in store for a change. The brand is in exclusive negotiations with a potential new owner. Shannon Antinori , Patch Staff Posted Reply MICHIGAN — The 46 Kohl's stores in Michigan could soon see some changes. Kohl's — which said this year that it's evolving from a department store to more of a lifestyle concept — is in negotiations with Vitamin Shoppe owner Franchise Group, Inc. that could determine the fate of the chain. As part of a three-week exclusive negotiation period, Franchise Group is seeking to acquire Kohl’s for $60 per share, a move that would put Kohl's value at around $8 billion. The acquisition talks come as the future of the Kohl’s brand remains undecided. In December, New York-based hedge fund Engine Capital urged the company to consider a sale, according to CNBC. Simon Property and Brookfield Asset Management, both of which aided JCPenney out of … [Read more...] about Michigan Kohl’s Stores Could Get New Owners

1 Business The Abbott Nutrition facility in Sturgis, Michigan — the largest formula factory in the USA — was closed in February due to contamination. Jonah Meadows , Patch Staff Posted | Updated Reply NORTH CHICAGO, IL — Baby formula production resumed Saturday at Abbott Laboratories' facility in Sturgis, Michigan, after the company met the initial requirements of a consent decree with federal regulators, company officials said. Abbott company officials said the plant would begin with production of EleCare and other specialty and metabolic formulas, with the first EleCare formula to hit the shelves around June 20. In a statement, company representatives said they were working to take the necessary steps to start making Similac and other formulas as soon as possible. "We understand the urgent need for formula and our top priority is getting high-quality, safe formula into the hands of families across America," the … [Read more...] about Abbott Restarts Baby Formula Production At Michigan Plant

3 Business Target —​ which has 50 locations in Michigan —​ is cutting prices on extra inventory as the habits of customers change. Shannon Antinori , Patch Staff Posted Replies MICHIGAN — Target shoppers in Michigan may see lower prices as the retail giant attempts to clear out excess inventory while adapting to a new shopping habits fueled by growing inflation. Target's first-quarter profit took a big hit from rising costs, despite strong sales, the Associated Press reported. The retail chain — which has more than 50 locations in Michigan — is making changes to align with the changing buying habits of its customers, including marking down products, canceling orders and raising some prices to align with "unusually high" transportation and fuel costs, the Minneapolis-based company reported. Shoppers continue to purchase groceries and other household staples, as well as beauty products, according to the company, but … [Read more...] about MI Target Stores Expected To Slash Prices Due To Unwanted Inventory

1 Business The magazine ranked the government agency number 8 out of 300 recognized organizations in its 2022 list. Dylan Siwicki , Patch Staff Posted Reply MICHIGAN — The State of Michigan was recognized as one of the best employers for new college graduates, according to a study by Forbes magazine. The magazine ranked the government agency number 8 out of 300 recognized organizations in its 2022 list of "America’s Best Employers for New Grads." Forbes said the list was based on an independent survey of more than 20,000 young professionals in the United States from companies with at least 1,000 employees. "I am proud that the State of Michigan has been recognized as a top ten organization for new graduates to bring their talents, develop new skills, and start their careers," Gov. Gretchen Whitmer said in a statement. Forbes top ten list of the best employers for post-graduates: Indeed Mayo Clinic … [Read more...] about Forbes Lists State Of Michigan Among Top Employers For New Graduates

0 Business The cereal and plant-based meat companies will remain headquartered in Battle Creek, while snack division HQ is in Chicago. Associated Press , News Partner Posted Reply BATTLE CREEK, MI — Kellogg Co., the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks and plant-based foods. Kellogg's which also owns MorningStar Farms, the plant-based food maker, said Tuesday that the spinoff of the yet-to-be-named cereal and plant-based foods companies should be completed by the end of next year. Kellogg's had net sales of $14.2 billion in 2021, with $11.4 billion generated by its its snack division, which makes Cheez-Its, Pringles and Pop-Tarts, among other brands. Cereal accounted for another $2.4 billion in sales last year while plant-based sales totaled around $340 million. "These businesses all have significant standalone potential, and an enhanced focus will … [Read more...] about Kellogg Splits Divisions, Will Have Dual Michigan-Chicago Campuses

0 Business The typical household in the state earns $59,234 a year. 24/7 Wall St. - Detroit , News Partner Posted Reply By Samuel Stebbins, 24/7 Wall St. Detroit The cost of living in the United States is well below the cost of living in several other developed countries, including the Nordic nations as well as New Zealand and Australia. Still, living expenses in the U.S. are higher than in much of the world. According to a recent study from Doxo , a bill paying platform, American households spend an average of $2,003 a month on the most common bills – or about 37% of what the typical household earns in a month. The average monthly cost of these bills – which include rent, auto loans, utilities, car insurance, cable, internet, mobile phone, and health insurance – are lower than average in Michigan. The typical Michigan household spends an average of $1,754 per month on bills, the 16th lowest among the 50 states. … [Read more...] about This Is What The Average Michigan Household Pays In Bills Every Month