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Wednesday’s business headlines

Wednesday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines with Jane King.

Survey: Labor Day travel plans down 9% from 2022

Americans reporting to be “very concerned” about gas and energy prices have steadily increased throughout the summer.

A survey by CivicScience finds that plans to travel by car over Labor Day weekend is down 9% points from 2022.

Some people say they may still travel but to a closer destination.

AAA says the current average in Indianapolis is $3.82, up about 40 cents in a month.

Dick’s Sporting Goods reports 23% drop in profits

Dick’s Sporting Goods blames “organized retail crime” for 23% drop in profits.

The CEO said organized crime and retail theft at the company is “an increasingly serious issue impacting many retailers.”

META selling recalled items on Facebook Marketplace

A group of bipartisan lawmakers told META it is not doing enough to prevent users from selling recalled products, including deadly baby items, on its Facebook Marketplace.

Among items for sale on the marketplace were the Fisher-Price Rock ‘N Play Sleepers and the Boppy company’s newborn loungers. The products have collectively been blamed for more than 100 infant deaths, according to the CPSC.

Online marketplaces have little government regulation, allowing companies like META to set its own rules.

Leader in A.I. reports earnings today

Nvidia, arguably the leader in Artificial Intelligence computer chips, reports its earnings today.

The last time this happened the company gained among the most in value of any company in stock market history.

Nvidia will give us a glimpse of AI going forward and if there are even enough chips to meet demand.

Macy’s opening smaller stores

Macy’s plans to open four more smaller stores this year as it tries to refresh its brand.

The locations will be smaller and situated in strip malls. They will host events and frequently swap out merchandise.

One of these first stores will be Highland, Indiana.