A major rural lifestyle retailer is closing dozens of pet stores in its portfolio around the country as it reevaluates both its existing footprint and growth plans.

Tractor Supply released its latest earnings report last week and revealed plans to close 75 Petsense locations around the country.

The company said in its release that as of late June, there were 209 Petsense by Tractor Supply stores across 23 states.

“Following a disciplined review of Petsense, we’ve decided to close approximately 75 underperforming stores. We believe these actions will improve returns, simplify the business, and allow us to direct resources towards higher growth, higher return opportunities,” said CEO Hal Lawton on the earnings call.

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Lawton noted that the Petsense locations that are closing were negative four-wall cash flow, meaning that those stores’ sales weren’t enough to cover costs that are local to individual stores, such as rent, labor and inventory.

Stemming the losses from those locations will allow the company to reinvest funds back into the core of the business, he added.

Lawton also said that after the closures, he thinks the company will “have a very strong, profitable Petsense business,” and that it will work well within the company’s broader pet ecosystem that includes Allivet and VIP Petcare.

Ticker	Security	Last	Change	Change %
TSCO	TRACTOR SUPPLY CO.	31.80	+0.78	+2.51%

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He also emphasized that the company doesn’t view the changes with Petsense as affecting the reacceleration of pet products within the core Tractor Supply business, which isn’t directly connected to Petsense.

Tractor Supply CFO Kurt Barton said on the call that the “strategic repositioning of Petsense is expected to create a healthier, more profitable business that better complements our Tractor Supply stores and strengthens our ability to serve pet customers across our integrated pet ecosystem.”

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Lawton also said that Tractor Supply plans to open dozens of new stores in 2027, though the total number is expected to be approximately 85 to 90 stores as opposed to the company’s previous expectation of opening 100 new stores.

Funds saved from the pared-back store opening plans will be redeployed toward initiatives like remodels under Project Fusion, which aims to improve the performance of Tractor Supply’s existing store base.

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Johnson & Johnson (J&J) has offered to pay as much as $5.5bn (£4.14bn) to resolve tens of thousands of lawsuits alleging that its baby powder and other products containing talcum cause ovarian cancer.

The proposed landmark settlement aims to close a long-running legal battle that has weighed on the US healthcare giant for years.

J&J has denied that its talc-based products caused cancer and has changed the formula of its widely-used baby powder.

Erik Haas, the firm’s vice president of litigation said on Monday, external that the allegations are “meritless” and that J&J was willing to settle in order to finally resolve the matter.

J&J said the settlement would cover about 69,000 cases, totalling most of the remaining talc-related claims. The firm will offer up to $3bn next year, with no additional payments due before 2028, it said.

The proposal must be accepted by legal firms representing 95% of the ovarian cancer claims in state and federal courts before it can be finalised, the J&J said.

Haas said in a statement that the company is confident that it would have “ultimately prevailed with further litigation” just as it has in the majority of cases heard in court to date.

He added that the proposed resolution “allows the company to put this matter behind it” and enable J&J to “remain focused on its mission to develop medicines and devices that save lives”.

Lawsuits against J&J over its talc-based baby powder started as early as 2009.

Earlier in July, a federal court handed the firm a victory by questioning individual plaintiffs’ ability to show that talc was the direct cause of their ovarian cancer.

Talc is a natural mineral made of magnesium, silicon, oxygen and hydrogen, known for its soapy feel and is often used in baby powder.

The company has faced lawsuits from consumers and their survivors who claim J&J’s talc products caused cancer due to contamination with asbestos.

Talc is mined from the earth and is found in seams close to that of asbestos, which is a material known to cause cancer.

J&J has repeatedly denied the allegations and in its latest announcement said: “Studies show talc is safe, does not contain asbestos and does not cause cancer.”

In 2022, J&J said it would stop making and selling its talc-based baby powder around the world.

The announcement came more than two years after it had ended sales of the product in the US.

“As part of a worldwide portfolio assessment, we have made the commercial decision to transition to an all cornstarch-based baby powder portfolio,” J&J said at the time.

Ford Motor Co. is pursuing what could be its biggest military contract in decades as it competes to build a new tactical truck for the U.S. Army.

The automaker has secured a Department of War contract to develop three prototypes based on its F-Series Super Duty pickups, The Wall Street Journal reported Monday.

The competition comes as the Pentagon taps automakers to replenish and modernize military equipment strained by global conflicts, according to the outlet.

“We are excited to start work on this Army contract and look forward to delivering several incredibly capable vehicle types that demonstrate the value Ford can provide to the Army and soldiers,” a Ford spokesperson told FOX Business in an email.

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The spokesperson said Ford’s Super Duty trucks are engineered for “extreme durability” and demanding conditions, making them an “ideal platform” for military use. 

Ford Pro also offers global service and parts support, along with technology aimed at improving vehicle uptime, the spokesperson noted.

“Ford’s off-the-shelf solutions can deliver unmatched capacity and scale, cutting-edge technologies, and the rugged capabilities that can offer game-changing value and performance and meet the needs of governments and the military in a highly cost-effective way just as we do with our commercial customers,” the spokesperson said.

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The move puts Ford in the running alongside rival General Motors (GM), which is developing a similar tactical truck.

GM unveiled its prototype in 2024, and the military has begun field testing it, according to The Wall Street Journal.

In addition to the two automakers, the Army has awarded a prototype contract to BC Customs LLC, a Utah-based off-road vehicle manufacturer, according to The Detroit News.

For Ford, the program could represent its largest military vehicle opportunity since the Cold War, the outlet reported.

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In May, Ford said it had been in discussions with governments in North America and Europe about using its commercial vehicles and software to support defense needs.

The company said some governments already use Ford vehicles for military transport and security operations.

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The Department of War referred FOX Business to the U.S. Army, which did not immediately respond to a request for comment.

Mumbai: Earnings of most listed brokers remained under pressure in the June quarter as trading activity in equity derivatives slowed and the rally in gold and silver seen in the January-March quarter reversed, weighing on revenue growth.

Among listed brokers, standalone revenue IIFL Capital Services rose 3% in the June quarter from the January-March period. In the case of Billionbrains Garage Ventures (Groww), Angel One and Anand Rathi Share & Stock Brokers, revenue declined 1-4%. In contrast, Motilal Oswal Financial Services‘ revenue surged 88% in the period.

While standalone net profit at Groww and IIFL Capital Services rose 2.5% and 14%, respectively, quarter-on-quarter, Motilal Oswal reported a profit of ₹665 crore after posting a loss of ₹49 crore in the March quarter. Angel One and Anand Rathi Share & Stock Brokers, meanwhile, reported profit declines of 23% and 44%, respectively.

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Shripal Shah, MD & CEO of Kotak Securities, said most brokers have reported softer earnings sequentially due to two key factors.

“First, Q4 had a high base, driven by the sharp rally in gold and silver, which boosted trading activity and broker earnings, and we have seen that momentum ease in Q1,” he said. “Second, derivatives options premium turnover declined by 4-5%, while retail cash market turnover rose 18-19%, weighing on brokers with higher F&O exposure.”
The June quarter reflected a mixed performance primarily because market activity remained uneven, said Suresh Shukla, Chief Business Officer, Wealth Management, Motilal Oswal Financial Services. “Investor participation continued to be healthy, however trading volumes were volatile largely due to geopolitical issues.”
After the West Asian conflict escalated in March, markets rebounded in April. However, the momentum did not sustain through May and June.
Shukla said firms with diversified revenue streams, including wealth management, distribution and margin trading funding (MTF), were better insulated. Raj Gaikar, research analyst at Samco Securities, said the June quarter earnings reflected a change in the earnings mix rather than a slowdown in demand.

“Year-on-year growth across all players shows retail participation remains healthy,” he said. “The sequential weakness was largely driven by Sebi’s derivatives reforms, expiry rationalisation and tighter position limits, which reduced index options premium turnover.” Stock performance has been mixed so far in 2026. While discount brokers such as Angel One and Groww have gained 29% and 28%, respectively, Motilal Oswal Financial Services was up 3%. IIFL Capital Services and Anand Rathi Share and Stock Brokers have declined 11% and 19%, respectively. The Nifty 50 is down 8.2%, while the Nifty 500 has declined 3.2% in 2026.

THE ROAD AHEAD
Shukla of Motilal Oswal said that the revenue mix is getting healthier in the broking business, especially for full-service brokers. “Businesses such as margin trading funding (MTF), wealth management, mutual fund and insurance distribution have become increasingly important contributors to profitability,” he said.

Gaikar said that among individual brokers, Angel One saw margins come under pressure due to higher spending on marketing and new businesses, while Groww’s flat topline reflects a mix shift where derivatives income declined off an elevated Q4 base, while MTF, float and commodity derivatives absorbed it, and Anand Rathi’s decline was due to weaker transaction and capital markets income.

“Looking ahead, traditional brokers with stronger cash market exposure are better positioned despite softer derivatives volumes,” said Shah of Kotak. “Additionally, the continued growth of MTF books should support earnings through higher interest income, better brokerage yields than regular cash trades, and increased trading volumes.”

Recovery is paramount for any athlete to be great at their craft, but Nike and Hyperice created yet another footwear innovation designed to help those hard-working athletes unwind from the ground up. 

This time, it’s with a slip-on slide. 

The Nike Air Zoom Hyperslide was introduced on Monday as the latest innovation developed in partnership with Hyperice, the health technology company that designs products specifically for recovery. 

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By combining Nike’s footwear expertise with Hyperice’s recovery technology, and building off the foundation of the award-winning Nike x Hyperice Hyperboot, this slide is designed to be wearable no matter the time of day, but with recovery in mind. 

How exactly can a slide help an athlete recover just by wearing it? A magnetic Hyperslide Pod housed inside the slide’s adjustable strap delivers three levels of heat as well as three levels of vibration that run within 15-minute cycles. This gives athletes the ability to seamlessly customize how they want to experience the slide’s recovery features through on-pod controls, or simply using the Hyperice App. 

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And whether it’s before or after competitions, training or regular life moments, the slide is a low-profile, full-length Air Zoom sole for soft, responsive comfort with targeted Hyperice heat and vibration within. 

“Athletes leave everything on the field, and the approach to recovery needs to meet them at the same level,” Tobi Hatfield, senior director of athlete innovation at Nike, said in a statement. “With the Nike Air Zoom Hyperslide, we wanted to create a solution that kickstarts recovery the moment you power it up — helping athletes feel more relaxed, restored and ready to take their performance to the next level.”

Nike and Hyperice got feedback on the product from a range of athletes, pro and everyday performers, including Netherlands and Liverpool star Virgil van Dijk. 

“It’s the combination that stands out,” he said in a press release. “The Hyperice heat and vibration help my feet recover as quickly as possible, while the Nike Air Zoom cushioning makes it feel incredibly comfortable.”

It also helps that Nike and Hyperice understood what athletes need to recover and how to use their respective expertise to make it happen after feedback from the Hyperboot. That product was tested with Nike Olympians at the 2024 Paris Summer Games, and it went on to exceed $10 million in revenue in its first eight months. 

It was the first shoe ever carried by Best Buy, while also winning numerous innovation awards. 

The Air Zoom Hyperslide reflects both companies’ belief that performance doesn’t just end when competition or training stops. Athletes are always looking for an edge over the competition, and recovery has seen an uptick in priority to ensure a fresh mind and body for the next day, no matter what’s on the docket. 

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“Our partnership with Nike has always been driven by a shared commitment to innovation for the athlete,” Hyperice founder Anthony Katz said in a statement. “With the Nike Air Zoom Hyperslide, we’re making premium recovery more accessible than ever, combining Nike’s iconic footwear expertise with Hyperice technology to help people recover smarter with every step.”

The Air Zoom Hyperslide will be made available beginning Sept. 29 in select markets.   

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Asian equities dropped as renewed concerns over artificial-intelligence spending fueled another selloff in chipmakers. Crude oil extended its decline.

The MSCI Asia Pacific Index fell 1.2%, with technology shares the biggest losers. The Kospi Index in South Korea dropped 5.6%, while the Nikkei in Japan slid 1.3%. The moves came after a US gauge of semiconductor giants fell 2.2%. SK Hynix Inc. and Samsung Electronics Co. were among the biggest losers in Asia.

The cost of protecting Nvidia Corp.’s debt against default surged amid a round of AI deals worth more than $750 billion. South Korea’s SK Hynix slipped below its US initial public offering price. ASML Holding NV sank on a report that a Chinese state-backed firm is producing certain chipmaking machines that could threaten its sales.

Elsewhere, US crude dropped below $82 a barrel after global benchmark Brent slumped the most in more than three months on Monday as Washington paused daily strikes against Iran. Bond yields dropped during the US session, with inflation fears easing in the countdown to the Federal Reserve decision.

Alongside geopolitical developments, investors face a packed week of risk events, with policy decisions from the Fed, Bank of Japan and Bank of England as well as earnings from megacap technology companies. Investors are increasingly looking for signs that the biggest spenders on artificial intelligence can justify the billions of dollars they have poured into the technology.

“This is a week with more than its fair share of potential surprises, good and bad,” said Chris Larkin at E*Trade from Morgan Stanley. “Geopolitics and oil prices may be the biggest wild cards, but a bullish response to strong Magnificent Seven earnings isn’t a given, especially if AI spending levels continue to raise eyebrows.”
Chip companies remained in focus during the US session, with the Philadelphia Semiconductor Index dropping for a third consecutive day. Sandisk Corp., Advanced Micro Devices Inc. and Nvidia were among the S&P 500’s biggest decliners.Microsoft Corp., Meta Platforms Inc., Apple Inc. and Amazon.com Inc. are among the companies reporting this week. In Asia, SK Hynix and Samsung will announce earnings.

“Those companies embody the critical theme weighing on sentiment in the markets right now — excess capital expenditure and spending by AI companies that, investors fear, will eat into returns,” Kyle Rodda, a senior analyst at Capital.com, wrote in a note to clients.

Traders’ attention will be on a slew of earnings later this week, with more than 170 companies in the S&P 500 set to report. Artificial-intelligence spending is in sharp focus after last week’s selloff in shares of Alphabet Inc.

Elsewhere, Treasuries rose Monday as tensions in the Middle East eased and oil fell, with an auction of the shortest-dated notes attracting buyers ahead of this week’s Fed decision. Traders continued to see a roughly one-in-three chance of a rate hike.

Citadel Securities expects the Fed to raise rates this week — a surprise move strengthening Chairman Kevin Warsh’s credibility in the battle with inflation. A quarter-point increase on Wednesday would reinforce Warsh’s repeated pledge to restore price stability while showing policymakers no longer rely on signaling every policy move well in advance, Frank Flight, the firm’s head of macro strategy, wrote in a note.

On the geopolitical front, President Donald Trump said the US and Iran were engaged in diplomatic talks to end their conflict, but warned the two sides would return to fighting if negotiations didn’t yield a deal.

Separately, Iran and Oman are trying to reach an agreement to restart shipping through the Strait of Hormuz, according to people familiar with the matter.

“The only reason they want to meet is because we’ve been hitting them very hard,” Trump told reporters. “There’s a good chance that something could happen. If it doesn’t, we go back to doing what we were doing.”

Oil prices fell 1% on Tuesday as market participants continued to weigh a pause in U.S. strikes on Iran, which ‌has raised ⁠hope of ⁠a diplomatic solution to their conflict and the normalisation of Middle East energy flows.

Brent crude futures were down $0.54, or 0.6%, at $87.82 by 0046 GMT. U.S. West Texas Intermediate crude was at $81.95 a barrel, down $0.66, or 0.8%.

Both contracts fell 1% earlier in the session to their lowest level in more than a week.

U.S. President Donald Trump said on Monday the United States was having “good talks” with Iran and that there was a chance ⁠of a resolution. ‌However, he said U.S. strikes would resume if negotiations failed while Iran issued similar comments about retaliation.

“For now, the relief that an off-ramp has been ⁠found has taken the heat out of prices and eased concerns around Houthi attacks on Saudi infrastructure. However, the situation remains highly fluid,” IG analyst Tony Sycamore said in a client note.

Afrah al-Zouba, the foreign minister-designate of Yemen’s internationally recognised Saudi-backed government, said Yemen-based Houthi fighters aimed to replicate Iran’s control of shipping through the Strait of Hormuz at Bab el-Mandeb.
“Whether the Houthis have the military capacity to enforce a comprehensive blockade is questionable, especially given that the Saudis will attack ‌them relentlessly. Still, there is no doubt that traffic has dropped off significantly in the Red Sea and the Strait of Hormuz,” said Marex analyst Edward Meir. “A key reason prices ⁠are not even higher than they are right now is the demand destruction that is taking place, especially in Asia,” Meir said.

Barclays analysts said in a note on Monday “flows through the strait remain subdued”. They said, in the week ended July 24, crude oil and refined product net exports through the strait averaged 2.9 million barrels a day compared with 5.9 million in the previous week.

Elsewhere, U.S. crude oil stockpiles likely fell last week alongside gasoline, while distillate stocks likely rose, a preliminary Reuters poll showed on Monday.