Latest news with #CEOs
Bloomberg
10 hours ago
- Business
- Bloomberg
Trump Asks Bank CEOs to Pitch on Fannie, Freddie Stock Offerings
President Donald Trump is bringing in bank leaders to meet with him one by one at the White House. Beyond the economic discussion, there's a chance at a big payday for their firms. Trump is asking for chief executive officers for their pitches on monetizing mortgage giants Fannie Mae and Freddie Mac, including a major public offering of stock, according to people familiar with the matter.
CNN
11 hours ago
- Business
- CNN
Frustrated with continued high drug costs, Trump demands 17 companies lower prices in 60 days
President Donald Trump is ratcheting up the pressure on major drugmakers to bring their US prices in line with the far lower ones available to patients in other countries. Trump sent letters to 17 major pharmaceutical company CEOs on Thursday with a list of demands, including that the manufacturers extend so-called 'Most Favored Nation' pricing — the lowest price paid for a drug in a peer country — to all drugs provided to Medicaid enrollees. He also wants the companies to guarantee that Medicaid, Medicare and commercial-market insurers pay such prices for all new drugs. The president gave the companies 60 days to comply. The directive stems from an executive order Trump signed in May, when he demanded drugmakers start offering US patients those lower prices or face consequences. Prices for some brand name drugs in the US are more than three times those in other developed nations, according to the administration. In that executive order, he also directed the Department of Health and Human Services to come up with price targets within 30 days. But Trump implied that the discussions between HHS officials and the companies did not yield acceptable results. 'Most proposals my administration has received to 'resolve' this critical issue promised more of the same: shifting blame and requesting policy changes that would result in billions of dollars in handouts to industry,' he wrote in the letters, which were posted on Truth Social. 'Moving forward, the only thing I will accept from drug manufacturers is a commitment that provides American families immediate relief from the vastly inflated drug prices and an end to the free ride of American innovation by European and other developed nations.' 'But if you refuse to step up, we will deploy every tool in our arsenal to protect American families from continued abusive drug pricing practices,' he continued. 'Americans are demanding lower drug prices, and they need them today.' The May executive order outlined some potential ramifications if manufacturers do not make significant progress in lowering prices. Those included directing HHS to craft a rule implementing the policy, allowing more drug importation into the US, reviewing drug exports, and having the Food and Drug Administration modify or revoke approvals granted for drugs that may be 'unsafe, ineffective, or improperly marketed.' The Pharmaceutical Research and Manufacturers of America, the industry's main trade association, did not immediately return a request for comment. The stock prices for several of the companies that received the letters, including Eli Lilly, Merck, Johnson & Johnson, GSK and Amgen, slipped between 1% to 4% in mid-afternoon trading. The S&P 500 Pharmaceuticals Industry Index was down a little more than 2%. It's unclear what authority the president has to demand certain prices, particularly in the private market and without Congress' involvement. Some industry experts have described the May executive order as more bark than bite. Trump's effort to establish a 'Most Favored Nation' rule for certain drugs in Medicare during his first term was quickly blocked by federal courts for procedural reasons before being rescinded by then-President Joe Biden in 2021. The May executive order goes far beyond that measure since it is not limited to drugs purchased by Medicare nor to a certain number of pharmaceuticals. In the letters, Trump also demanded that drug companies return revenue from operations abroad to lower prices in America through 'an explicit agreement with the United States.' Plus, he ordered the manufacturers to participate in programs to sell certain drugs directly to consumers or business at 'Most Favored Nation' prices. Drugmakers have long complained that foreign governments, which are more involved in price setting, demand very low prices to gain access to their markets. It's not the only way the Trump administration is squeezing drugmakers — officials have also looked to impose tariffs on pharmaceutical imports, which had been exempted from such levies enacted during the president's first term. The tariffs could exacerbate shortages of certain drugs, particularly generic medicines, and eventually raise prices, experts have warned.
CNN
11 hours ago
- Business
- CNN
Frustrated with continued high drug costs, Trump demands 17 companies lower prices in 60 days
President Donald Trump is ratcheting up the pressure on major drugmakers to bring their US prices in line with the far lower ones available to patients in other countries. Trump sent letters to 17 major pharmaceutical company CEOs on Thursday with a list of demands, including that the manufacturers extend so-called 'Most Favored Nation' pricing — the lowest price paid for a drug in a peer country — to all drugs provided to Medicaid enrollees. He also wants the companies to guarantee that Medicaid, Medicare and commercial-market insurers pay such prices for all new drugs. The president gave the companies 60 days to comply. The directive stems from an executive order Trump signed in May, when he demanded drugmakers start offering US patients those lower prices or face consequences. Prices for some brand name drugs in the US are more than three times those in other developed nations, according to the administration. In that executive order, he also directed the Department of Health and Human Services to come up with price targets within 30 days. But Trump implied that the discussions between HHS officials and the companies did not yield acceptable results. 'Most proposals my administration has received to 'resolve' this critical issue promised more of the same: shifting blame and requesting policy changes that would result in billions of dollars in handouts to industry,' he wrote in the letters, which were posted on Truth Social. 'Moving forward, the only thing I will accept from drug manufacturers is a commitment that provides American families immediate relief from the vastly inflated drug prices and an end to the free ride of American innovation by European and other developed nations.' 'But if you refuse to step up, we will deploy every tool in our arsenal to protect American families from continued abusive drug pricing practices,' he continued. 'Americans are demanding lower drug prices, and they need them today.' The May executive order outlined some potential ramifications if manufacturers do not make significant progress in lowering prices. Those included directing HHS to craft a rule implementing the policy, allowing more drug importation into the US, reviewing drug exports, and having the Food and Drug Administration modify or revoke approvals granted for drugs that may be 'unsafe, ineffective, or improperly marketed.' The Pharmaceutical Research and Manufacturers of America, the industry's main trade association, did not immediately return a request for comment. The drug prices for several of the companies that received the letters, including Eli Lilly, Merck, Johnson & Johnson, GSK and Amgen, slipped between 1% to 4% in mid-afternoon trading. The S&P 500 Pharmaceuticals Industry Index was down a little more than 2%. It's unclear what authority the president has to demand certain prices, particularly in the private market and without Congress' involvement. Some industry experts have described the May executive order as more bark than bite. Trump's effort to establish a 'Most Favored Nation' rule for certain drugs in Medicare during his first term was quickly blocked by federal courts for procedural reasons before being rescinded by then-President Joe Biden in 2021. The May executive order goes far beyond that measure since it is not limited to drugs purchased by Medicare nor to a certain number of pharmaceuticals. In the letters, Trump also demanded that drug companies return revenue from operations abroad to lower prices in America through 'an explicit agreement with the United States.' Plus, he ordered the manufacturers to participate in programs to sell certain drugs directly to consumers or business at 'Most Favored Nation' prices. Drugmakers have long complained that foreign governments, which are more involved in price setting, demand very low prices to gain access to their markets. It's not the only way the Trump administration is squeezing drugmakers — officials have also looked to impose tariffs on pharmaceutical imports, which had been exempted from such levies enacted during the president's first term. The tariffs could exacerbate shortages of certain drugs, particularly generic medicines, and eventually raise prices, experts have warned.
Entrepreneur
12 hours ago
- Business
- Entrepreneur
3 Tactics to Turn One-Time Holiday Shoppers Into Year-Round Buyers
Opinions expressed by Entrepreneur contributors are their own. Every winter, retailers watch revenue lines spike and then flatten again by February. What often goes unexamined is the potential of turning one-time holiday shoppers into lifelong fans of your brand. Just last year, U.S. consumers spent an average $902 a piece on winter‑holiday purchases — a surge of wallets wide open and, crucially, minds open to new brands. While the holiday sales rush is fantastic, its actual value doesn't just revolve around the immediate profit. It's in the people who are discovering your brand for the first time. And that opportunity doesn't start in December; it starts months earlier. Many successful brands begin preparing their holiday playbook in August, laying the groundwork with campaigns and messaging that build awareness and prime new customers before the season peaks. A small effort to convert these new holiday buyers into loyal customers can extend that seasonal success throughout the entire year. This conversion playbook is comprised of three key parts. When brands execute all three, Q4 turns from a sugar rush into an on‑ramp for steady, compounding growth. Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success. 1. Promote products that reflect your brand DNA Big discounts on basics can make December's sales chart look great — and many shoppers are indeed hoping to snag a holiday deal. The opportunity lies in making sure those customers stick around long after prices reset. By pairing promotions with a clear expression of your brand's identity, you can turn seasonal shoppers into loyal advocates. One of the best ways to do this is by spotlighting your "hero" products — the pieces that showcase your signature materials, craftsmanship or design flair. When someone's first purchase feels unmistakably you, every future drop feels consistent and compelling, not like a bait‑and‑switch. You can further strengthen that connection by inviting new buyers into your loyalty program or offering follow‑up perks that keep them engaged. A customer whose introduction to your brand is authentic and rewarding is far more likely to come back, at full price, in the months ahead. Timing helps, too. Brands that start acquisition campaigns in August or September give shoppers time to learn the story, budget for full‑price pieces and hit November already warmed up. Those early birds come back during peak season, and they do it at healthy margins because their loyalty was never built on discounts in the first place. Related: 5 Black Friday Strategies to Turn Holiday Browsers into Instant Buyers 2. Make loyalty part of the purchase, not an afterthought A solid loyalty program is the simplest way to turn a first‑time buyer into a repeat customer, yet too many brands hide it in the website footer, where no one sees it. That "strategy" is expensive. In fact, 85% of shoppers say a strong program makes them buy again, and 79% go on to advocate for the brand. This means you must put the invitation where excitement peaks. That's usually on the product page, in the mini‑cart, and right after checkout, so shoppers understand the value before their order even ships. Just as important, the sign‑up process should feel effortless. Tuckernuck, for example, weaves loyalty seamlessly throughout the customer journey. Shoppers can join by simply entering their email address at checkout or at any time while browsing. Once enrolled, customers see their reward points in real time, clearly displayed across the site, without needing to navigate away or search for a separate page. This keeps the program visible and reinforces that being a part of Tuckernuck's community is central to the experience year‑round. Ultimately, even if your full program is still on the drawing board, act now. Flag high‑spend holiday buyers as a temporary "VIP" group and thank them with first dibs on a limited January release. Track which perks drive clicks, carts and redemptions to shape your database's program. Bottom line, make sure every December shopper leaves knowing there's a real reason to come back to you in, say, February or March. 3. Segment holiday buyers into micro‑audiences Holiday crowds are anything but uniform. The shopper who grabs a $29 stocking stuffer after spotting your TikTok ad won't respond to the same January follow-up that works for the customer who spent $280 on a purse they found in a print gift guide. Offering a one-size-fits-all program is clearly a missed opportunity. Instead, tag each holiday order by first-touch channel, cart value and product type. Once those labels are in place, your automations can generate more personalized messages without increasing your manual workload. This results in brands generating roughly 40% more revenue than their peers, and the American Marketing Association notes that a well-targeted email can increase revenue by up to 5.7 times. Those gains come from small, data-driven touches, such as subject lines that name-check the very collection a shopper browsed and replenishment reminders timed to average usage cycles. Related: 25 Ways You Can Turn a One-Time Buyer Into a Repeat Buyer Win the holidays even before they begin If the first time you talk retention is after the pumpkins from Halloween hit the porch, you're already scrambling. Best practice is to lock the plan by mid‑August, which is early enough to run list‑building ads while costs are still reasonable. This also gives you enough wiggle room to test your signup pop‑ups and fine‑tune the loyalty messaging you'll weave into every holiday touchpoint. By September, your email and SMS automations should be live, your VIP segments tagged and your "second‑purchase" offers queued up. That way, when traffic surges in November, all you do is hit "go."
Yahoo
13 hours ago
- Business
- Yahoo
Canada Goose posts wider loss despite new clothing lines resonating with consumers
TORONTO — Canada Goose Holdings Inc. says its new lines of spring and summer clothing appear to be resonating with consumers, though the company posted a wider net loss in its latest quarter. Chief executive Dani Reiss said apparel such as T-shirts and polos have been some of the company's best sellers in recent months, helping the company change its perception that it's a winter-only brand. "The spring summer campaign brought a fresh energy to the brand, playful and relevant with a clear message: We do summer too," Reiss told analysts on a conference call Thursday. Rising temperatures and milder winters have pushed some retailers, including Canada Goose, to rethink their product mix. As a result, the company has been expanding its offerings to include lightweight puffers, sweaters, wind and rain wear, shoes and even eyewear in recent years. Despite the optimism from executives over its new product lines, the luxury parka maker reported a wider net loss of $125.5 million during its fiscal first-quarter, compared with a loss of $74 million during the same quarter last year. The loss was driven partly by higher spending on marketing campaigns and expanding its retail footprint. On an adjusted basis, the Toronto-based company said it lost $1.29 per diluted share in the quarter, compared with an adjusted loss of 80 cents per diluted share last year. While its bottom line took a hit, sales were higher. Revenue for the quarter totalled $107.8 million, up from $88.1 million a year ago. Direct-to-consumer revenue totalled $78.1 million, up 22.8 per cent from a year ago, while wholesale revenue rose 11.9 per cent to $17.9 million. Chief financial officer Neil Bowden said expanding the company's offerings over the last 12-15 months has borne fruit. "Things are working here," he told analysts. "That's why we've got confidence around the sustainability of it in spite of what is still a pretty choppy, tough consumer market." Consumer confidence has been hampered this year amid ongoing tariff threats from the U.S. and an economic slowdown, leading many shoppers to rein in their spending. Bowden said 75 per cent of the company's products are made in Canada and nearly all comply with the Canada-U.S.-Mexico Agreement, making them exempt from U.S. tariffs. But it is paying a "modestly higher tariff" on its European products. "We continue to monitor the ongoing developments as it relates to potential new U.S. tariffs on Canadian goods as well as potential second-order impacts on the consumer," Bowden said. Canada Goose shares were trading nearly nine per cent lower at $16.17 on the Toronto Stock Exchange as of midday Thursday. This report by The Canadian Press was first published July 31, 2025. Companies in this story: (TSX: GOOS) Ritika Dubey, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
