The Lucky Knot Men's, Local Coast open in Annapolis
I'm a longtime solver of the New York Times crossword, and I always get some extra enjoyment out of it when local folks and companies are mentioned in the clues or answers. The latest example of this was in Wednesday's puzzle, which featured the clue "Investment firm T. [blank] Price." That's the first time the answer "ROWE" has appeared in the crossword in relation to the Baltimore company since December 2020 (that's according to the incredible crossword site, XWord Info). "ROWE" has actually appeared in the crossword since then but with a different Baltimore connection: The clue referenced "Dirty Jobs" host and Baltimore County native Mike Rowe.
So I guess you could say Baltimore has the monopoly on Rowe-related crossword clues.
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Two new retailers open in Annapolis
A pair of regional clothing brands have set up shop on Main Street in Annapolis. The Lucky Knot has opened a dedicated men's location at 159 Main St. while Local Coast, which offers coastal, hunting and fishing apparel, has moved into 167 Main St., according to Annapolis-based Hyatt Commercial, which played a role in both deals. Hyatt's John Gallagher brokered the off-market sale of 159 Main St. in March. Property records show it sold to an entity tied to the family that owns The Lucky Knot for $1.8 million. The Lucky Knot has five stores in Virginia, and already had a women's store on Main Street. Gallagher also represented the former owner of 167 Main St. in selling the property last year and then brokered the lease with Lucky Coast on behalf of the new owner while Hyatt's Bill Steffey represented the tenant. Property records show that the building changed hands in December for $1.75 million to an Annapolis LLC. Local Coast's only other store is in Severna Park.
Baltimore fashion boutique expands to Virginia
Sassanova, a local fashion boutique specializing in contemporary men's and women's apparel, has opened a new store in McLean, Virginia. The store opened this week at the Chesterbrook Shopping Center, adding to existing stores in Baltimore, Lutherville and Bethesda. The new 2,200-square-foot location is Sassanova's largest to date and marks the first time the store is bringing its signature women's collections and its Nova Man menswear under one roof, according to a release. Owner Angela Tandy is one of this year's Women Who Mean Business honorees.
T. Rowe Price lays off employees
T. Rowe Price Group Inc. has started laying off an undisclosed number of employees, including at its new Harbor Point headquarters, the Baltimore Sun reported yesterday. The investment giant did not disclose the size of the layoffs or offer other specifics about the cuts but said the move is part of a plan to cut costs and return to organic growth.
A nearly 50-year-old regional Italian restaurant chain has sold its 10 locations as its owner looks to retire. BBJ reporter Morgan Simpson has more on what's next for the family-owned chain.
The Orioles may be on break, but Camden Yards was still hopping yesterday as we celebrated this year's Best Places to Work winners at the B&O Warehouse. The event was emceed by Ryan Ripken and attendees got a chance to meet the Oriole Bird, sample a wide array of ballpark and Maryland-themed food and take photos on the flag court. Read all about how the winning companies became a Best Place to Work here.
More speed cameras coming to I-83
Watch out, speedsters, more cameras are coming to Interstate 83. Baltimore City is adding two cameras along the roadway that are set to go live on Aug. 4, the Department of Transportation announced Thursday. The new cameras will be located near 41st Street, which the department said was picked based on where speeding and crashes typically occur. The city already has two other speed cameras on I-83 and the department said only one camera in each direction will operate at any given time. Drivers who exceed the speed limit by 12 or more miles per hour will receive a citation. The fine for a speeding citation is $40.
The logistics arm of Office Depot is closing down its Howard County facility as part of a nationwide cost-cutting effort. The BBJ's Matt Hooke has all the details.
New hotel and conference center gets $7.5 million state grant
The state Board of Public Works on Wednesday approved a $7.5 million capital grant to support the upcoming Downtown Frederick Hotel and Conference. The project is expected to result in 200 new full-time jobs and create $1.5 billion in economic impact over the next two decades, according to a release from Gov. Wes Moore's office. Our friends at the Washington Business Journal did a deep dive this spring into what the $103 million project will mean to the historic town.
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Forbes
2 minutes ago
- Forbes
How This Changemaker Is Empowering Caribbean Communities From The Inside Out
Executive director of the Sandals Foundation, Heidi Clarke. Courtesy of the Sandals Foundation Heidi Clarke—a fifth-generation Jamaican with a background in child psychology—never set out to run a multi-island nonprofit. Back in 2009, she was volunteering in schools and helping run her husband's sailing company in Tobago when she got a call from Adam Stewart. At the time, Stewart was the CEO of Sandals Resorts, a Caribbean-based hospitality brand known for its all-inclusive properties. (He's now the executive chairman.) Stewart had an idea for what he called a 'small project'—to turn the company's long-running community work into something more formal. Would Clarke help build a new charitable arm? She said yes—without realizing just how far that project would go. Sixteen years later, Clarke is the executive director of the Sandals Foundation, a philanthropic powerhouse operating across more than a dozen Caribbean islands. Under her leadership, the Foundation has helped build green schools, fund scholarships, support women-led farming cooperatives, restore coral reefs and launch countless programs aimed at strengthening communities and protecting the region's natural resources. 'When you see change happening,' she told me in an interview, 'it keeps you driven.' Heidi Clarke, executive director of the Sandals Foundation, alongside three women volunteers. Courtesy of the Sandals Foundation Clarke brings a unique lens to the work. Raised in Kingston, she studied education and child psychology, then spent years volunteering in Caribbean schools before formally stepping into the nonprofit world—and her background still informs Clarke's mission and the mission for the Sandals Foundation. 'Education underlies everything we do,' she says. 'Whether it's environment or health—education is the foundation for all of it.' Clarke's leadership style is warm and collaborative. She jokes that she has 20,000 people working for her, since everyone at Sandals and Beaches plays a role in the Foundation's work. But her immediate team is just eight people strong. 'Everybody here has a voice and something to bring to the table,' she says. 'You have to be able to lead from the ground up and from the top down. And if we work as a team, we allow each voice to be heard.' One of Clarke's biggest priorities is ensuring that every project the Foundation undertakes is driven by local needs. 'We're not the experts at everything,' she says. 'So what we've recognized is that within our communities, there are grassroots organizations that are doing incredible work and they just need assistance to scale up what they're doing.' Over the years, she's cultivated a model built on partnership and trust—aligning closely with community leaders, government stakeholders and local changemakers to build programs that are sustainable and scalable. Making Authentic Connections One of the most powerful examples of that model in action is the Foundation's long-running partnership with the Grenada Network of Rural Women Producers (GRENROP). What began as a small effort to provide basic training and infrastructure has grown into a thriving collective of 65 women farmers. Today, they're selling fresh produce to local hotels, operating a coconut processing facility and hosting farm-to-table lunches that allow travelers to connect with the land—and the women—who make it all possible. Two women farmers from the Grenada Network of Rural Women Producers (GRENROP) stand proudly in a lush, tropical field, each holding freshly harvested squash. They wear matching purple GRENROP shirts, smiling beneath the Caribbean sun. Courtesy of the Sandals Foundation Theresa Marryshow, GRENROP's president, grew up on her family's farm and has spent her career advocating for women in agriculture. With support from the Sandals Foundation, the group now has access to cold storage to prevent spoilage, modern irrigation systems and ongoing business training. 'My program isn't just about growing food,' Marryshow told me in an interview. 'It's about cultivating resilience, financial independence and community. We're also able to amplify our impact by welcoming visitors to the island and into our story—ultimately helping more women create better futures for themselves and their families.' 'This is one of the projects I'm most proud of,' says Clarke. 'What's unique is that now they're showcasing the best of the Caribbean to our guests and many other guests on the island. So they have a sustainable income, and people are experiencing authentic Grenada. I've seen them grow from strength to strength. The spirit of empowerment runs through nearly every initiative that the Sandals Foundation touches—from early childhood education and job training to environmental conservation and mental health support. In the Bahamas, for instance, a partnership with the Bahamas Girl Guides Association (BGGA) helped complete the group's long-awaited national headquarters, providing a hub for workshops, skill-building and overnight programs designed to support girls and women across the islands. 'The Sandals Foundation's support has been nothing short of transformative,' Dr. Ruth Sumner, president of the BGGA, told me in an interview. 'We're helping empower women to grow, learn and thrive, and the Foundation's donations are essential to making that happen, from comfortable beds for the girls to sleep in, to appliances for skill-building workshops. We're sincerely grateful for the support, and together we're creating life-changing experiences for women across The Bahamas.' Protecting The Land The Foundation's environmental work is just as expansive. In recent years, it has helped establish coral nurseries, manage marine protected areas and implement sustainability programs in schools across the region. But perhaps the most innovative initiative is the Coral Restoration Certification Program, which allows guests at Sandals Resorts to become certified 'coral gardeners' through specially designed PADI courses. Guests at Sandals Royal Bahamian can become certified 'coral gardeners' through the Sandals Foundation's Coral Restoration Program, which combines hands-on conservation with unforgettable underwater experiences. Courtesy of the Sandals Foundation 'The dives that they go out on—learning about the corals, coral planting—not only are they learning something and being exposed to beautiful Caribbean oceans, but all of those dives are also giving back,' says Clarke. This kind of hands-on engagement is a hallmark of Clarke's approach. While the Foundation is fully funded by Sandals Resorts International—meaning 100% of donations go directly to programs—she sees travel itself as an opportunity to build bridges. Guests can browse local goods in on-property artisan markets, join fish fries and street parties throughout the islands, and visit nearby schools through the Reading Road Trip program. That initiative brings travelers into local classrooms to read with students, share stories, and get a firsthand glimpse of island life beyond the resort. 'We want people to come to the Caribbean and really experience it,' she says. 'Yes, the beaches are beautiful—but the culture, the people, the potential, that's what makes it special.' Making A Lasting Impact And the model is working. Today, the Foundation supports artisans across multiple islands, has helped plant more than 27,000 trees, has supported some 2,300 schools and has provided health services to hundreds of thousands of people across the Caribbean. What's next? Clarke is doubling down on linkages between tourism and local economies—particularly among farmers, fishers and makers. She's also finishing a master's degree in counseling psychology to deepen the Foundation's approach to mental health, an area she sees as increasingly urgent. 'We work with a lot of abused young people. We work with pregnant teens. We work in the jails,' she says. 'When we;re looking at programs, we want them to be very holistic. It's not just coming in to do one component. And mental health is a very big thing.' Clarke says the best piece of advice she ever received was a simple idea: 'We're not here for ourselves,' she says. 'We live on this planet to serve others.' It's a mantra she returns to often—along with another favorite, shared with her own children: 'Find the stars in your coffee.' In other words, focus on the little things. 'It's the small moments that make life worth living,' she says. 'Each day, I remind myself: Your job is to uplift someone—through your words, your actions, even just a smile.' Clarke may not have planned to lead a regional nonprofit, but her steady vision and deep sense of purpose have helped the Sandals Foundation evolve from a 'small project' into a long-term force for good—one that empowers communities, invests in people and reimagines what tourism can do. "Heidi has been a driving force behind the Sandals Foundation's growth and impact since its inception,' Adam Stewart, executive chairman of Sandals Resorts International, told me in an interview. 'She is a thoughtful and empowering leader, committed to lasting change across the Caribbean while uplifting those around her and earning the love and trust of the communities we serve. She meets challenges with steady guidance, grace and practical solutions, forging a path for the Foundation to become the powerful engine for transformation it is today. More than anything, Heidi is a cherished member of the Sandals family and her unique vision continues to shape not just what we achieve, but how we achieve it: with heart, purpose and unwavering commitment." For Clarke, it's all about people—meeting them where they are, listening closely, and helping create the conditions for lasting transformation. As for her legacy, Clarke keeps it simple. 'I think for the next generation, it's about helping them understand that you don't have to start big,' she says. 'It's just about having a passion and taking the next step—because that's kind of how I've done it, learning along the way. And it just takes doing something for one person to realize how impactful that is.' And for anyone wondering whether they can make a difference, she offers this reminder: 'At the end of the day, wherever we go and whatever we do, we have potential to make positive change and be those changemakers.' MORE FROM FORBES: Forbes How A Small Hotel In Jamaica Is Making A Big Difference By Laura Begley Bloom Forbes How Two Accidental Hoteliers Created One Of The World's Coolest Hotel Brands By Laura Begley Bloom Forbes How This Hospitality Visionary Is Rewriting The Rules Of Luxury Travel By Laura Begley Bloom
USA Today
4 minutes ago
- USA Today
P&G reports weakest sales growth since 2018, plans layoffs and price raises
Procter & Gamble reported its poorest sales increase since 2018, skimped on details of its restructuring plans and disclosed it will raise prices next month on a quarter of its products in North America, in part due to the ongoing trade wars waged by President Donald Trump. The maker of Tide laundry detergent and Pampers diapers reported a $16 billion annual profit on sales of $84.3 billion. During its fourth quarter, profit was $3.6 billion on sales of $20.9 billion, beating Wall Street forecasts. Organic sales (which excludes impact from foreign exchange, acquisitions and divestitures) in latest year were the worst in seven years. The initial report did not offer the promised new details of P&G's newly announced restructuring plans. During a July 29 conference call with Wall Street analysts, CEO Jon Moeller said P&G is still working on its restructuring but mentioned some specifics: the company will narrow the variety of its feminine pads in Asia, discontinue business operations in Bangladesh and trim some overseas product offerings for the company's Oral Care, Fabric Care and Grooming businesses. "It takes time to plan the execution of these moves ... so we can't discuss all the details today," Moeller told analysts. Tariffs to cost company an extra $1 billion The Cincinnati-based consumer products giant said in June it would update its plans to cut 7,000 jobs as part of a restructuring move when it reported financial results. The changes come as the company is struggling to maintain growth as consumers struggle with economic uncertainty, political instability and trade wars launched this year by Trump. Looking ahead, P&G said tariffs on its products and on raw materials used in them would cost the company an extra $1 billion in the 2026 fiscal year. Chief Financial Officer Andre Schulten said much of that impact was concentrated in North America between key materials imported from around the world and products exported to Canada. To help offset that, Schulten said 25% of the company's products would see "mid single digit" price increases, partly due to tariffs amid the ongoing trade disputes and also to pay for product innovations. "That is not vastly different from what we typically take with innovation, a couple of points higher to account for the tariff impact that we can't offset with productivity," Schulten said. P&G said organic sales growth for the next year is expected to be between 0% to 4%. P&G to get new CEO Meanwhile, on July 28, P&G announced its No. 2 executive, Shailesh Jejurikar, the 58-year-old chief operating officer, will take over as CEO on Jan. 1, 2026. P&G employs 108,000 worldwide, including 10,000 in Greater Cincinnati. In April, P&G forecast its organic sales growth (which excludes impact from foreign exchange, acquisitions and divestitures) for the fiscal year ended June 30 would be a paltry 2% – the worst increase since 2018. In June, the company also disclosed that outside core markets of the U.S., China, Japan, Canada and Western Europe, organic sales were growing a meager 1%. Previous sales slowdowns have prompted pressure to slash operations at P&G. During P&G's last spate of reorganization and cutbacks, the company cut 34,000 jobs between 2012 and 2018, slimming the company down to 92,000 workers worldwide. Thousands left in divestitures, including the sale or spin-offs of Iams pet food, Duracell batteries and a large portfolio of more than 40 beauty brands, including Clairol and Wella hair coloring and CoverGirl makeup. P&G said it would cut nonmanufacturing jobs (a little over half the company's headcount) by 15%. The cuts could have a larger impact in the Cincinnati region as the company employs around 10,000 mostly office workers in its hometown. Last year, P&G booked a $14.9 billion profit on total sales of $84 billion.
Boston Globe
4 minutes ago
- Boston Globe
Shoppers are stressed, but some brands are raising prices anyway
In a media briefing call on Tuesday, CFO Andre Schulten called the increase 'moderate,' 'adequate,' and in line with 'the typical inflation consumers would experience.' P&G's move could be a harbinger of increasing prices, including on groceries, household staples, apparel and electronics. While spending data shows Americans are looking for bargains, economists warn that such price increases will further strain consumers battling stubborn inflation, high interest rates, and rising personal debt and energy costs. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Meanwhile, consumers' outlook on the economy is the worst it has been in years. Advertisement Some retailers have already started raising prices. Walmart, a bellwether for the industry and US consumer, has targeted baby gear, kitchenware, and toys — items mostly manufactured in China. Industry experts expect some groceries will soon follow. The Trump administration's 50 percent steel and aluminum tariffs will lead to higher food and beverage packaging costs, such as coffee tins and beer cans, many manufacturers say. The Tax Foundation, a nonpartisan Washington-based think tank, projects that tariffs will affect almost 75 percent of US food imports, leading to higher prices on liqueurs and spirits, baked goods, coffee, fish, and beer. Advertisement There is still some hope, however, as not all brands and retailers can afford to up their price tags, said Simeon Siegel, a managing director and senior analyst at BMO Capital Markets. Some companies will have to absorb costs, negotiate fees with suppliers, modify their supply chains, or cut down staff, he explained. 'Tariffs aren't something magical, where the consumer all of a sudden says, 'We got you.' Tariffs don't give [companies] permission to raise price,' he said. 'Consumers give brands permission to raise price.' Still, consumers are stressed. Shoppers are spending less on vacations, buying store brands at the supermarket, and trading down to budget retailers. They're also leaning on credit cards and buy-now-pay-later services. 'Consumers have had a really tough time sorting through the 'tariff noise,'' said Lindsay Owens, executive director of Groundwork Collaborative, a left-leaning think tank. 'They don't know when prices are going to increase, what supply is going to be available.' Back-to-school shopping has also been a recent example, she said. Families this year bought clothes, shoes, school supplies, and electronics earlier than ever, in hopes of locking in deals and preempting tariff-induced price increases, according to the National Retail Federation. They also took advantage of summer promotions: During Amazon's Prime Day Event, sales of backpacks, lunchboxes, binders, calculators, and children's apparel were up 175 percent year-over-year, according to Adobe Analytics. The NRF also found that families are pulling back, noting that those with children in elementary through high school plan to spend an average of $858 this year, down from $874 last year. And shoppers are spending more at budget chains, such as J. Crew Factory and Aeropostale, while moving away from brand name backpacks such as Kipling and Herschel Supply, according to credit- and debit-card data from Consumer Edge. Advertisement Meanwhile, consumers are using AI tools to find bargains. In early July, as several major retailers promoted their summer sales events, Adobe Analytics tracked a 3,300 percent surge year-over-year in traffic to retail sites from generative AI platforms. 'What that tells us is consumers are leaning into Gen AI platforms to give guidance on where they can find cheaper versions of goods or better pricing on a certain item,' said Vivek Pandya, lead analyst at Adobe Digital Insights. Retailers report that their customers are more focused on value and price — and they are trading down where they shop and what brands they buy. Consumers of all income brackets are buying more store-label products when grocery shopping as opposed to national brands, as well as good-quality duplicates of fragrance, beauty and apparel. P&G has seen this trade-down trend in its own product assortment among lower-income customers, Schulten said Tuesday. For example, they are swapping out Tide for more affordable and less concentrated Tide Simply, or Pampers diapers for Luvs. P&G has also seen slower spending in several categories, including skin and personal care, baby care, grooming, feminine care, home care, and hair care. 'The lower-income consumer and the higher-income consumer are reacting to the current volatility they are seeing and they are observing, and we see consumption trends consistently decelerating,' Schulten said. 'Consumers are a bit more careful in terms of consumption.' The company, which saw net sales in its last fiscal-year quarter increase 2 percent to $20.9 billion, said it plans to restructure in response to tariffs. This includes discontinuing some brands and products, adjusting its supply chain, and cutting down its workforce by about 15 percent over the next two years, it said. Advertisement
