President Donald Trump brought two dozen manufacturing CEOs to the White House on Thursday and declared their collective commitment to restoring factory jobs lost to foreign competition. "The jobs are there, but the skills are not," one executive said during meetings with White House officials that preceded a session with the president. The discussion of job training and worker skills is a relatively new one for Trump, who campaigned for the White House on promises to restore manufacturing jobs that he said had been lost to flawed trade deals and unfair competition from countries like Mexico and China.
It's a good thing Popeyes Louisiana Kitchen (PLKI) was bought by Restaurant Brands International (QSR) on Tuesday because its 2016 fourth quarter earnings were far from savory. After Wednesday's market close, Popeyes reported fourth quarter earnings of 44 cents a share, lower than the 47 cents a share analysts expected. Shares of Popeyes fell slightly in after-hours trading to $78.85. Popeyes did post revenue of $61 million for the three-month period ended Dec. 25, compared to Wall Street's expectations of $59.9 million. For the full year, the company posted earnings of $1.98 a share and revenue of $268.9 million. Analysts were anticipating Popeyes to report earnings of $2.11 a share on $267.8
Sears laid off 130 employees at its corporate offices on Thursday as the company struggles to stay afloat after a dismal holiday quarter. Sears CEO Eddie Lampert announced the layoffs in an email sent to corporate employees on Thursday afternoon.