Getting Elon'd wasn't enough... In July, Tesla passed longtime #1 Toyota to become Earth's most valuable car company. The latest ego hit to the Japanese car giant: Toyota posted its weakest 1st quarter profit in 9 years. Car sales halved and profit plunged a depressing 98% to just $132M. That was still better-than-expected: analysts forecasted a loss on shuttered factories and closed dealerships. Now Toyota says recovery is moving faster than expected in some countries.
A pair of jeans that fit just right... Except, nothing does mid-pandemic. Levi's sales plunged 62% last quarter because you haven't felt a real waistband since March. As stores shut and social outings evaporated, Levi's shifted its retail strategy: it partnered with Uber for same-day delivery and added a virtual concierge so you can chat with a salesperson from your sofa. 2020 retail bankruptcies will likely be the highest in a decade — Levi's is banking on omnichannel "experiential retail" to survive.