Kroger Sales Beat Expectations on Steady Grocery Spending
Kroger Co.'s sales surpassed expectations during the latest quarter, a sign that consumers are still spending on groceries and other essentials even amid economic turbulence.
The nation's largest supermarket operator said its comparable sales, excluding fuel, rose 3.2% — better than what Wall Street analysts were expecting.
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Intel alum to get $1.9M bonus as newly-minted Ciena CFO
This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Intel alum Marc Graff will receive a $1.9 million cash bonus upon taking the top financial seat for high-speed optical networking firm Ciena, with the move effective Aug. 1, the company said Thursday in a securities filing. Graff, who most recently served as CFO for semiconductor company Altera, is also set to receive a one-time replacement equity grant with a target delivered value of $10.4 million, both of which are intended 'to partially compensate Mr. Graff for the value of certain near-term cash and equity incentives and certain long- term equity incentive compensation that he forfeited upon resignation from his prior employer,' according to the filing. One quarter of the grant will vest a year following his becoming CFO, while the remainder will vest over a three-year period, the company said. Graff will succeed 18-year company veteran James Moylan in the position, the Hanover, Maryland-based company said in a press release. Moylan, who announced his intent to retire last September, will stay on until Aug. 28 to assist with a smooth transition, the company said. 'For the past 18 years and an incredible 70 earnings calls, Jim has been an incredible partner and member of our executive team with a lengthy list of significant contributions to the growth and the performance of our business,' CEO Gary Smith said of Moylan's tenure as CFO during the company's most recent earnings call on June 5. Prior to Altera, which he joined in January 2024 as its finance chief, Moylan's successor Graff logged a 26-year career at software giant Intel, serving in such roles as its corporate VP, CFO and chief operating officer, data platforms group, and VP, head of financial planning & analysis, according to his LinkedIn profile. As well as the $1.9 million cash bonus and one-time equity grant, Graff will also receive an annual base salary of $650,000 as Ciena's CFO, according to the filing with the Securities and Exchange Commission. He will also be eligible for an annual target bonus opportunity of 100% of his base salary. For fiscal 2026, Graff will also receive an equity award with a target delivered value of $3.9 million, the company said. The CFO swap comes as the optical networking firm is looking to take advantage of a rise in data center and cloud spending driven by the artificial intelligence boom. For its Q2 of fiscal 2025 ended May 3, Ciena saw a nearly 24% jump in net revenue year-over-year to reach $1.1 billion — with revenues from cloud providers a 'key driver,' CEO Smith said during the company's earnings call. Ciena also reported GAAP net income of $9 million for the quarter, compared to a net loss of $16.8 million for the prior year period, according to its earnings results published June 5. The company achieved record direct cloud provider revenue for its Q2, a segment which represented 38% of total revenue, Smith said, according to a transcript. The results are 'really highlighting the accelerating investments in AI infrastructure and our leadership in addressing this demand,' Smith said, noting that three out of the five top customers for the quarter were cloud providers, underscoring their sustained investments in AI infrastructure and network expansion.' Data center capital expenditures skyrocketed by 53% to reach $134 billion in the first three months of this year, CFO Dive sister publication CIO Dive reported, citing a survey by Dell'Oro research group. The growth was primarily driven by 'hyperscaler spending' on AI infrastructure with AWS, Google, Meta and Microsoft — the four companies with the largest cloud footprints — accounting for 44% of Q1 spending in the space, according to the report. However, as Ciena aimed to capitalize on the swell in spending, the optical networking provider also faced headwinds from the shifting tariff environment in its Q2, CFO Moylan said during the earnings call. Amid the 'dynamic' tariff environment, combined with a need for Ciena to adjust its billing and customer systems, the company 'absorbed a net impact to our bottom line in the mid-single-digit millions of dollars in the quarter,' Moylan said. The company did not immediately respond to requests for comment. Recommended Reading Wise CFO credits customer growth for 280% profit jump Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
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A Small Store Owner Struggles As Staff Constantly Call Out Sick Or Care For Family. Dave Ramsey Says Corporate America Would Just Fire Them
When a small business owner called into Dave Ramsey's 'EntreLeadership' podcast recently, she didn't talk about marketing, sales, or profits—she asked for help dealing with something more personal: what to do when too many employees are out for weeks at a time due to illness or family emergencies. With nine employees and around $700,000 in annual revenue, the specialty retail and race timing business owner told Ramsey she's struggling with multiple extended employee absences. 'It'd be one thing if it were one person, but it's multiple,' the owner said. 'And I'm just a small retail store.' Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can Ramsey, who has run businesses of all sizes, told her, 'At your size, you can only absorb so much of it in the name of grace. And then you can't continue to absorb it all because you won't have the money to pay the people that are there because the work's not getting done.' He sympathized with her desire to be kind and flexible, but said the numbers don't lie. 'My grace can only go as far as the math allows it.' Ramsey explained that in his own company, they sometimes pay employees out on extended medical leave, but that luxury comes with scale. 'When I was your size, I couldn't do that. I didn't have the money to do that.' The small business owner clarified that her team members aren't lazy. 'None of them I would look at and go, 'Oh, you're slacking.'' Trending: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Still, Ramsey didn't pull punches. 'Corporate America will fire their butt with no feelings,' he said. 'At least you got feelings.' 'Welcome to leadership. Sometimes it's hard... because small business people like you and me, we care about folks, we don't just cut their throat,' Ramsey noted. He recommended setting a clear policy: allow three weeks of PTO, and then no more than one month unpaid. Beyond that, the position likely needs to be filled. 'You're just never here, so we probably ought to call it out loud and say that,' he said. 'I feel bad for you, but I also can't go on not getting this work done.'Ramsey said leaders can make exceptions when they feel truly called to support someone long-term, but added, 'That's a rare exception.' His closing reminder: 'The good of the whole outweighs the good of the one. When you can't afford to do it, you can't afford to do it. That's not evil, it's just the stage of business you're at. I'd like to tell you it gets easier. It gets more complicated, is all it gets from here.' Read Next: The average American couple has saved this much money for retirement —?Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article A Small Store Owner Struggles As Staff Constantly Call Out Sick Or Care For Family. Dave Ramsey Says Corporate America Would Just Fire Them originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 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
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5 Things You Must Do When Your Net Worth Reaches $1 Million
Many dream about what they would do if they had a million dollars. In the dream, this might come by way of an easy win on a lottery ticket or a large inheritance, yet for lots of Americans, it's hard work, dedication and perseverance that allows them to reach that goal over time. However, once they find their net worth is at $1 million, they are often clueless as to what to do next. For You: Read Next: If you are on the path to reaching that great financial height, you want to make sure your next moves are strategic, so you do not endanger the wealth you've generated and, in many cases, can even continue to grow it. Here are five things you must do when your net worth reaches $1 million. Kerry Keihn, a financial advisor at Earth Equity Advisors, stressed the importance of understanding how a $1 million net worth can take shape, as there are many forms. 'Is it primarily home equity, investment accounts or sitting in cash?' asked Keihn. 'Real wealth isn't just about reaching a number — it's about how well your assets align with your financial needs and values. Understanding your breakdown is crucial for determining next steps.' As an example, Keihn said, 'If a large portion of your $1 million is in cash in a single bank account, you'll want to ensure you're staying within the FDIC insurance limits.' Check Out: Reaching this milestone is an opportunity to be intentional with your investments, according to Keihn. Citing a US SIF Trends Report, Keihn said, 'Many investors choose to align their portfolios with their values through sustainable, responsible and impact investing , a rapidly growing approach that now accounts for a significant share of global assets under management. 'This could mean investing in companies with strong environmental and social practices, excluding industries that don't align with personal ethics or funding solutions to global challenges like clean energy and affordable housing,' Keihn explained. 'Your investments have the power to shape the future — this is the time to ask: Do my investments align with my values?' 'Anchoring bias occurs when we rely heavily on the first piece of information we receive and fail to adjust it as we gather new insights,' explained Keihn, noting that society often treats $1 million as the ultimate financial milestone without adjusting for inflation. 'The meaning of being a millionaire has shifted over time, but the term still holds a powerful allure,' Keihn added. 'In reality, the impact of $1 million in net worth on your life depends on your financial circumstances.' Keihn said the key is to focus on whether your portfolio can support your personal goals rather than arbitrary benchmarks. One thing to be aware of with a larger portfolio is that tax efficiency becomes even more important, in Keihn's professional opinion. 'Investors should consider tax-smart strategies, like asset location, tax-loss harvesting, charitable giving — such as donor-advised funds — and sustainable withdrawal rates if they're starting to draw from their portfolio,' she said. How well do you know your financial goals, especially after accumulating such wealth? Keihn explained that reaching that milestone is the perfect time to analyze your financial plan. 'Reaching $1 million is an ideal time to reassess whether you're on track for the future you envision,' Keihn said. 'Does this milestone mean financial independence, or are adjustments needed to reach your next goal? If you don't have a formal plan, now is the time to create one.' More From GOBankingRates 5 Types of Cars Retirees Should Stay Away From Buying This article originally appeared on 5 Things You Must Do When Your Net Worth Reaches $1 Million 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
