The Street

Major supermarket chains, including Kroger, Stop & Shop, and The Raley’s Companies, are in the middle of a downsizing mode that began in 2025 and will continue for some companies through 2027.

Kroger said it expected to close approximately 60 stores across its portfolio by the end of 2026, according to the company’s first-quarter fiscal 2025 earnings call. Giant Ahold Delhaize’s Stop & Shop chain confirmed in July that it will close store locations in Basking Ridge and Westfield, N.J., also in 2026

And now Raley’s has said that it will close another Northern California store located in Petaluma, Calif., on Jan. 26, 2027, affecting 48 workers’ jobs.

The Raley’s Companies will close six stores in California and one in Nevada.Kimberly White / Getty Images

Raley’s closes 7 stores

The closures are part of Raley’s regional downsizing plan that calls for seven store closings in California and Nevada. Raley’s said it will offer transfer opportunities to as many affected employees as possible, KSRO radio reported.

The Raley’s Companies cited local market conditions and long-term financial sustainability for the downsizing.

The West Sacramento, Calif., grocery store chain began its downsizing plan with the closing of its Raley’s store in Roseville, Calif., in January 2026, followed by the closure of its store in Antioch, Calif., in April. The chain had allowed both store leases to expire.

The supermarket chain continued closing stores by shuttering a Nob Hill Foods store in Mountain View, Calif., on May 29, 2026, affecting 50 employees.

Underperforming store leads to closure

Raley’s followed up its Mountain View closure with the announcement that it will close its Nob Hill Foods store in Los Gatos, Calif., when its lease expires in June 2027, after reviewing the store’s performance and current economic conditions, the company’s Chief Marketing Officer Carol Barsotti said.

The company also plans to close its Raley’s store in Brentwood, Calif., on Nov. 3, 2026, and an Elko, Nev., location in December 2026, according to SFGate.

“Thoughtful stewardship sometimes means opening stores and sometimes it means making difficult decisions to close them,” The Raley’s Companies spokesperson Chelsea Carbahal told SFGate.

Foot traffic, sales impacted

Raley’s brick-and mortar locations have faced more competition with online marketplaces and changing customer preferences, which impacted store foot traffic and overall sales, Carbahal said.

Despite the downsizing plan, Raley’s plans to open a new store in March 2027 in the Central Valley city of Madera, Calif.

Grocery stores face challenges to remain profitable, including competition from regional and national supermarket chains, rising costs of products and labor driven by inflation, consumers’ changing attitudes toward products, and lease rates that don’t make economic sense.

Stores face revenue challenges

Supermarkets faced increased food-at-home inflation after the 2020 Covid-19 pandemic, rising by 11.4% in 2022 and 5% in 2023, while revenue peaked only 0.5% higher in 2022 year-over-year, before falling below 2021 levels in 2023 and 2024 and recovering in 2025, according to data from IBISWorld.

Store closings even hit a chain that had never closed a store before. 78-year-old grocery chain operator, Cosentino’s Food Stores closed its Price Chopper location in Overland Park, Kan., in February, marking the first store it has closed in its history.

Cosentino’s operates 24 Price Chopper, three Sun Fresh, three Cosentino’s Markets, two Apple Market, and a Market 48 Liquor store.

Related: Favorite Mexican restaurant chain files Chapter 11 bankruptcy

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Why we love this deal

“Maxxing” is just about everywhere these days, and even more so in the wellness world. You’ve likely heard this buzzword used as health-maxxing, fitness-maxxing, or gym-maxxing. In these cases, it means you’re fully optimizing your exercise routines and diet to get the best results possible. If you’re on a quest to “health-maxx,” or just want to improve your stamina or fitness levels, tracking your workouts is the best place to start. When it comes to tracking workouts, in terms of duration, average heart rate, and calories burned, there are few devices as helpful as a smartwatch.

This wearable tech can be expensive, but with one of Walmart’s weekly Flash deals, you can score a deep discount of 86% off one of the retailer’s best-selling smartwatches. The Geryst Military Smartwatch, which normally retails for $200, is now available for the low price of $27. It has all the features you’d expect from a higher-end model, but with the bonus of a built-in flashlight and ultra-long battery life. To put this exceptional markdown into perspective, you could get seven smartwatches and still pay less than you would originally. 

Geryst Military Smartwatch, $27 (was $200) at Walmart

Courtesy of Walmart

Shop at Walmart

Why do shoppers love it?

Constructed with a spacious 1.53-inch high-definition touchscreen display, this smartwatch is easy to read and navigate. It has a rugged design proven to withstand outdoor adventures and heavy-duty workouts, passing 12 military-grade tests. With an IP68 waterproof rating, the smartwatch is dust-tight and can be submerged in 1.5 meters of water for 30 minutes, so you can safely work up a sweat, shower, and wash your hands while wearing it.

It’s not just the durable design that makes this smartwatch deal so outstanding. It has two unexpected features you rarely see in this type of wearable tech, including an incredibly convenient LED flashlight that’s bright enough to reach over 16 feet away. It also has the longest battery life I’ve ever seen for a smartwatch, lasting up to 50 days in standby mode. If you’re actually using the smartwatch, it’s still remarkable, running up to 18 days on a single charge. “Unbelievable battery life, good flashlight, and a very nice watch,” wrote one shopper who was just as impressed.

Related: Amazon is selling $39 wireless earbuds with up to 43 hours of battery life

Compatible with both Apple and Android devices, this smartwatch has all the expected features, like taking calls, viewing notifications, and setting a timer from your wrist. It also offers over 110 sports modes, including running, cycling, yoga, and hiking, tracking your steps, distance covered, and calories burned in real time for helpful insight into your workouts. “I’ve used it at the gym, and it tracks my calorie burn perfectly,” raved one shopper. They also reported, “It paired perfectly with my iPhone.”

Details to know 

Display size: 1.53 inches.

Compatibility: Most Apple and Android devices.

Is it waterproof?: Yes, it has an IP68 waterproof rating.

This smartwatch is compatible with iPhones running on iOS 9.0 or higher and Android smartphones using Android 9.0 or higher. As long as you’ve updated your phone sometime within the past 5 years, you should have no problems connecting to the smartwatch. 

Shop more deals

Tikland Smartwatch and Fitness Tracker, $23 (was $190) at Walmart

Mingdaln Military Smartwatch, $30 (was $200) at Walmart

Cillso Smartwatch, $26 (was $190) at Walmart

The feature-packed Geryst Military Smartwatch is a practical accessory for everyday use, and there’s no better time to snag it for yourself than while it’s on sale for just $27 at Walmart. Don’t wait to add it to your cart, as Walmart’s Flash deals never last long.

To some investors, SpaceX (SPCX) shares have already lost their shine. Now a fresh warning is landing at the worst possible moment.

The stock closed at $134 on Thursday, Aug. 20, down about 6% over the past five days and roughly 17% for the year so far. 

That is a long way from the $225.64 high it touched days after its June debut.

Most of Wall Street still tells clients to buy. One analyst in Germany just told them to sell.

That single call, paired with a wave of freshly unlocked shares hitting the market, is the reason SpaceX investors are paying close attention this week. 

Here is what the warning says, and what it means if you own the stock.

Why DZ Bank analyst Markus Leistner rates SpaceX a Sell

DZ Bank analyst Markus Leistner started covering SpaceX with a Sell rating and a $100 price target, according to 24/7 Wall St.

From Aug. 20’s $134 close, that target points to a drop of about 25%.

Leistner warned of what he called “crash risk in the valuation orbit.”

His point is simple. The money SpaceX must spend to build its future businesses is so large that today’s price is hard to defend.

That view puts him nearly alone. 

SPCX carries a Moderate Buy rating, with an average target of $228.59. Leistner sits at the very bottom of that range.

SpaceX stock now trades well below its June IPO high as new share supply and a bearish analyst call collide.Justin Sullivan / Getty Images

The spending problem behind the $100 SpaceX target

The core of Leistner’s argument is the cash SpaceX is spending.

SpaceX spent $18.37 billion on capital projects in the second quarter, with $15.83 billion of that going to AI computing infrastructure, Reuters reported. 

The company’s management also guided the next two quarters to a similar level.

Capital expenditure is the money a company spends building long-term assets such as data centers and rockets. SpaceX is spending it faster than the business currently earns.

The company also lost $541 million in the second quarter, even as revenue jumped.

More SpaceX Stocks:

Peter Schiff says SpaceX is a warning for hyped stocks

Former Fidelity manager sends troubling SpaceX signal

Nvidia just took a very serious step on SpaceX stock

Then there is the deal-making.

SpaceX closed a $60 billion all-stock purchase of AI coding platform Cursor on Aug. 14, issuing about 389 million new Class A shares, Investing.com reported.

When a company pays with new stock, existing shareholders own a smaller slice of the same business. 

That is dilution, and it is a direct cost to current holders.

SpaceX also approached AI startup Cognition, valued near $26 billion, before those talks ended. 

To Leistner, the pattern signals an appetite for large, stock-funded deals.

What the AI math has to prove

Leistner also questions the $28.5 trillion total addressable market SpaceX laid out in its IPO filing, a figure that counts space, connectivity, and AI.

A total addressable market is the full revenue a company could earn if it captured every possible customer. It is a ceiling, not a forecast.

AI makes up about 93% of that $28.5 trillion claim. Space and connectivity, the parts making real money today, are under 7%.

So the valuation leans heavily on a business that must still prove it can deliver years of profit.

The share unlock making the timing worse

The Sell call did not arrive on a quiet day.

SpaceX’s second post-IPO lockup tranche took effect on Aug. 20, freeing up to 319 million restricted shares.

That’s about 7% of the shares under the 180-day lock-up, GuruFocus reported.

A lockup expiration lets employees and early backers sell shares they were previously barred from selling. More sellers can mean more downward pressure on the price.

Related: Jim Cramer sees the writing on the wall for SpaceX investors

The first unlock on Aug. 6 was far larger at 911.5 million shares, and the market absorbed it without a collapse.

This time the added supply arrived alongside a high-profile Sell rating, and the stock slipped below its $135 IPO price.

More unlocks are coming. The lockup releases shares across more than a dozen dates rather than all at once, so holders face repeated waves of new supply into late 2026.

One name is not selling. CEO Elon Musk, who owns about 48% of SpaceX and controls more than four-fifths of the voting power, is restricted from selling until June 12, 2027.

Where DZ Bank sits against the rest of Wall Street

Leistner is the most bearish major voice, but he is not the only skeptic.

Five-star Phillip Securities analyst Glenn Thum holds a Sell rating and a $75 target, citing customer concentration and contracts that clients can exit on 90 days’ notice.

The bulls sit far higher. Morgan Stanley’s Adam Jonas rates SpaceX a Buy with a $300 base target, pointing to Starlink cash flow and AI upside.

Here is how the split looks right now:

SpaceX price targets from bears to bulls

DZ Bank (Markus Leistner): Sell, $100, due to heavy capital spending and dilutive deals

Phillip Securities (Glenn Thum): Sell, $75, due to customer concentration and cancelable contracts

Morgan Stanley (Adam Jonas): Buy, $300 base, due to Starlink cash flow and AI growth

Wall Street average: $228.59

The distance between $75 and $300 is unusually wide, and it tells you how much division exists on what SpaceX is worth.

SpaceX stock vs. the S&P 500

A quick comparison shows how differently SpaceX has traded from the broad market.

Year to date, SpaceX is down about 17%. The S&P 500 has held up far better over the same stretch.

Over the past five days, SpaceX fell about 6%, while the index moved only modestly.

The point is that SpaceX swings much harder than the market in both directions, so it behaves like a high-growth technology bet rather than a steady industrial holding.

What SpaceX holders can do now

For anyone holding the stock, the practical questions come down to time frame and tolerance for large price swings.

Key points for SpaceX shareholders

More supply is scheduled. Additional lockup tranches unlock across late 2026, which can keep pressure on the price, even without bad news.

Spending must turn into profit. SpaceX guided to sustained multibillion-dollar capex, so the AI bet has to convert into durable earnings.

The bull case is long-dated. Morgan Stanley’s target rests on growth years out, not this quarter.

None of this is a recommendation to buy or sell. 

A long-term holder who believes in Starlink and the AI push may look past this unlock-driven weakness. To them, it is a short-term problem.

Anyone who prefers lower risk has real reasons for caution. The repeated share supply and the negative earnings are real risks, not distractions.

Two things are worth watching over the coming quarters. 

Whether SpaceX turns its cloud contracts into multi-year deals instead of ones clients can exit in 90 days

Whether insiders actually sell as more shares unlock, or hold like they did after the Aug. 6 release

Those two answers will tell you more than any single price target.

Related: Louis Navellier sets eye-opening Nvidia stock price target for rest of this year

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If there’s one accessory that gets me excited to walk out the front door every morning, it’s a beautiful luxury watch. While microbrand divers and neutral daily wears have their merits, I’ve always been partial to a good chronograph. These are watches that tend to have a little more style than a dive watch and more flair than a standard three-hander. That’s why they’re such an important puzzle piece for any shopper trying to put together the perfect watch collection. They bridge the visual gap between sports watches and dress watches, and give the wearer a conversation piece at almost any occasion.

That said, budgets tend to be tight these days for most of us. With energy uncertainty and persistent inflation continuing to plague consumers, keeping an eye on your bottom line is essential. That’s why brands like Citizen and Seiko are so popular with luxury timepiece fans. They offer a way into the hobby that’s manageable by almost anyone’s standards. While a step up in cost for most, these brands won’t break the bank if you don’t want them to. In fact, one of Amazon’s most beautiful Seiko Chronographs got my attention recently, and I think it will pique your interest as well.

Seiko SSB425 Luxury Chronograph Watch 

Courtesy of Amazon

Check price at Amazon

The Seiko SSB425 Luxury Chronograph Watch is a stunning example of what you can get at a discounted price at Amazon. It’s currently just $212, down 20% from the regular price of $265. Even at the original price, this watch is a great deal, but the discount makes it that much more appealing. With a case and bracelet made from rustproof 316L stainless steel, the watch has a luster that looks the part of a luxury timepiece. The panda-style white dial with black subregisters is a popular choice among modern watch collectors. It’s a stylish pick that matches almost any outfit or occasion. The subdials measure running seconds, minutes, and hours, respectively. One of the most impressive aspects of the watch that you don’t often get with chronographs like this is 100 meters of water resistance. It’s a great all-around piece that you won’t regret buying.

Benefits of a chronograph

There are lots of advantages of a chronograph over standard three-hand models. Some of them are obvious, while others may be surprising to some. Aesthetically, a chronograph offers a sporty yet elegant look. The multiple subregisters hint at a more complicated timepiece that can do much more than just tell the time. Subdials also give the watch an additional design element, which allows for playful and interesting color combinations. Furthermore, Chronographs have a more modern look and feel than most traditional watches with a standard three-piece handset, giving them a bit more depth and dimension.

On the practical side, the actual chronograph function can be incredibly helpful in a number of different scenarios. It can function as a stopwatch, timing anything from a hard-boiled egg to your heartbeat. You never realize how nice it is to have a timer of sorts on your wrist until it actually happens. That’s why just about every collector has a chronograph in their collection. Aside from the cool looks, it’s straight up convenient. The tachymeter that surrounds the bezel on most chronographs gives an added layer to the timing function. It allows you to specifically time speed over a given distance, particularly useful for racing enthusiasts.

Perhaps the most surprising benefit you get from a chronograph is the ability to track a second time zone. While many think you need a GMT or dual time zone watch to do this, all you need is a dependable chronograph. All you need to do is start the chronograph function when it’s exactly 12:00 in the second time zone you want to track, and the hours subdial will continue to show you the time in that zone any time of day or night.

More luxury chronographs

If the Seiko SSB425 Luxury Chronograph Watch isn’t to your liking for any reason, Amazon has lots of other luxury chronographs that may be more your speed. The following list constitutes some of my favorites. Whether you want something subdued and classic or you prefer a more fashion-forward option, you’re sure to find it on Amazon. Just be sure to get yours sooner rather than later, as the best deals usually sell out rather quickly.

Citizen Eco-Drive Weekender Brycen Chronograph

Courtesy of Amazon

Check price at Amazon

Bulova Lunar Pilot Chronograph

Courtesy of Amazon

Check price at Amazon

About Vintage 1960 Racing Chronograph 

Courtesy of Amazon

Check price at Amazon

Citizen Eco-Drive Weekender Sport Casual Chronograph

Courtesy of Amazon

Check price at Amazon

Seiko Essentials Sports Chronograph 

Courtesy of Amazon

Check price at Amazon

TheStreet Shopping is your guide for shopping insights and advice. We look beyond the price tag to find the best value in home, tech, and wellness gear based on product features and real-world use. Read more about our Editorial Standards and How We Choose Our Shopping Deals.

Real estate technology company Zillow has a warning for Americans about the time it takes to save for a down payment on a home and plan for high mortgage rates in a difficult housing market.

“Buying a home is a financial commitment measured not just in dollars, but in years,” Zillow wrote. “Whether to buy or rent is a complex question that depends on where you want to live and your lifestyle preferences, in addition to your financial situation.”

“Nationwide, a median-income household can save for a down payment and break even on their purchase in less than 15 years.”

To calculate the financial breakeven point for homeownership versus renting, Zillow measured two phases, including saving for a down payment and recovering the upfront costs.

On a national level, a household setting aside 10% of the median income needs 8.5 years to reach a 20% down payment on a typical single-family home, followed by another 6.2 years for buying to become more cost-effective than renting, according to Zillow.

“The common wisdom is that saving early to buy a home is the smart financial move, but the reality is more nuanced,” said Kara Ng, senior economist at Zillow. “The breakeven number tells you something about a market that a price tag alone doesn’t.”

“Buyers should think about not just when they can afford to buy, but how long they’d need to stay before owning makes more financial sense than renting,” Ng continued. “Homeownership comes with equity and stability, while renting offers flexibility and freedom from maintenance bills and emergencies.”

Freddie Mac clarifies high mortgage rate homebuyer strategy

The weekly 30-year fixed-rate mortgage (FRM) averaged 6.65%, slightly down from the previous week when it was 6.67%, Freddie Mac reported on August 20.

“The 30-year fixed-rate mortgage declined this week averaging 6.65%,” said Sam Khater, Freddie Mac’s chief economist.

“With a dip in rates providing modest relief for homebuyers, it’s important to remember borrowers can potentially save thousands by shopping around for the best mortgage rate,” Freddie Mac emphasized.

The daily 30-year FRM was 6.77% on August 21, according to Mortgage News Daily (MND).

“While many news outlets continue focusing on the mid-week announcement regarding Treasury’s bond buyback program, today’s bond market volatility was unrelated,” wrote MND’s Matthew Graham.

“Current levels are close to where they were before Wednesday’s announcement and that makes sense to anyone who [viewed] Wednesday’s market reaction as ‘overdone.’”

Economic data picks up significantly this coming week, alongside anticipated remarks from Fed Chair Kevin Warsh at the Federal Reserve’s annual symposium in Jackson Hole, Wyo.

Zillow explains major homebuyer dilemma

Homebuying timelines vary drastically by city, according to Zillow.

In Austin, Texas, a household saving for a down payment reaches the 20% mark in about eight years — faster than the national pace — but faces a massive 18-year wait to break even against local renting costs, which have dropped recently.

Conversely, Miami buyers spend five extra years saving up, but break even in half the time once they purchase. Consequently, Miami home buyers ultimately come out ahead three years sooner than those in Austin.

Buyers can speed up the process by opting for a starter home — defined by Zillow as a property in the bottom third of regional home values.

More on mortgage rates:

Americans face 3 major takeaways after mortgage rate news

Cooler PCE inflation data can’t fix today’s mortgage rates

Mortgage rate forecast resets after Fed decision

Zillow emphasizes an important dilemma people face.

On a national level, purchasing an entry-level home instead of renting a typical apartment cuts the total timeline in half, taking just 7.2 years to save for and break even.

“However, with the cost of homeownership this high, buyers have signaled they do not want an expensive project,” Zillow wrote. “Turnkey homes sell for 2.9% more than expected, according to Zillow research, while remodeled homes sell for 2.2% more than similar homes without renovations noted in the listing description.”

“Meanwhile, fixer-upper homes sell for 14% less. Not all starter homes need renovations, but buyers who go this route should account for the full cost of ownership, including the possibility of repairs.”

Real estate technology company Zillow warns Americans about the time it takes for homebuyers to save for a downpayment.Shutterstock

Zillow says housing shortage drives affordability crisis

Compared to pre-pandemic levels in July 2019, today’s national timeline is nearly four years longer than the 11-year wait homebuyers experienced back then.

“At the root of the housing affordability crisis is a shortage that stands at 4.7 million homes,” Zillow wrote. “The metros with the largest shortages tend to also have the longest break-even timelines.”

“Los Angeles, for example, has the second-largest deficit at nearly 345,000 homes, and a break-even timeline of nearly 38 years.”

Shrinking a disparity of this size requires taking action from multiple angles.

Policy changes designed to lower construction costs and boost development are among the ideas Zillow advocates, such as updating zoning laws for higher density, simplifying the permit approval process, and broadening access to financing for manufactured homes.

Related: Redfin warns homebuyers on mortgage rates, housing market

A stock that reports revenue growth in the thousands of percent sounds like it invented something new.

Quantum Computing Inc. (QUBT) reported second-quarter revenue of $5.6 million, more than 9,000% higher than the $61,000 it posted a year earlier, according to the company’s earning release filed with the SEC.

That number is real. The business behind it is still small enough to fit inside a single university research grant.

QUBT shares traded near $9 on Friday, Aug. 21, part of a rally that lifted seven quantum computing stocks at once, according to a Seeking Alpha report.

D-Wave Quantum (QBTS), Rigetti Computing (RGTI), IonQ (IONQ), Infleqtion (INFQ), IQM Quantum Computers (IQMX), and IBM (IBM) all moved higher the same morning. That is to say, when one stock rallies in a particular industry, it pulls its peers along with it.

Quantum Computing’s 9,000% headline, despite a still-tiny business

The revenue jump came from photonics product sales across QCi’s government, educational, and commercial customers, the company said in its earnings release. Revenue also grew 51% from the first quarter’s $3.7 million, a smaller but still meaningful gain.

Most of the improvement in QCi’s bottom line, though, came from a shrinking paper loss on warrant derivatives rather than the core business turning profitable, according to a breakdown of the filing.

Net loss narrowed to $11.8 million from $36.5 million a year earlier. QCi ended the quarter with a $42.5 million order backlog and $1.3 billion in cash, giving it years of runway, even as it keeps losing money on operations.

The quarter also included QCi’s acquisition of NHanced Semiconductors, which launched a second chip fabrication facility and expanded the company’s U.S. manufacturing footprint, according to the earnings release.

The deal added complexity to the numbers: Operating expenses rose 114% year over year to $21.8 million, partly from acquisition-related costs.

Quantum Computing Inc. posted second-quarter revenue growth of more than 9,000% as seven quantum computing stocks rallied together on Friday, Aug. 21.John Keeble / Getty Images

7 stocks, 6 catalysts, one basket trade

D-Wave gained as much as 7%, Rigetti climbed 9.6%, IonQ rose 7.5%, Infleqtion added 9%, and IQM popped 7%. None of them moved for the same reason.

A new Outperform rating and $35 price target from BMO Capital Markets, implying roughly 85% upside, sent D-Wave (QBTS) shares higher, according to a BMO note covered by The Motley Fool.

Rigetti (RGTI) shares rose even more than D-Wave’s that same morning, even though BMO’s note never mentioned the company, The Motley Fool reported.

IBM (IBM) advanced 2% two days after saying it had successfully cooled and linked two cryogenic modules, a step toward the fault-tolerant quantum computer it has targeted for 2029, an IBM press release confirmed.

IonQ (IONQ) signed a non-binding agreement to become a listed cloud provider on a Canadian government quantum platform, a deal that carries no guarantee of revenue, according to TipRanks.

The common thread isn’t fundamentals. Quantum stocks increasingly trade as a single basket, correlated more with sector sentiment than with any one company’s earnings.

When one name gets a bullish headline, the rest of the group tends to move with it, whether or not the news applies to them specifically.

Percentages, not profits, drove quantum stocks’ rally

The percentages doing the talking this week say more about how small these companies still are than about how close quantum computing is to arriving. Infleqtion (INFQ) is the clearest example.

The company originally reported second-quarter revenue up 116% to $12.6 million on Aug. 12, then quietly raised that figure to $13.5 million, a 157% increase, in an amended SEC filing five days later. Most of the coverage that moved Infleqtion’s stock this week never caught the revision.

More Quantum stocks:

IBM CEO sends blunt message on quantum computing

Pentagon may see one of quantum computing’s first practical winners

IBM quietly cleared a quantum computing hurdle experts doubted

None of this means quantum computing isn’t real progress. It means a headline reading “9,000% growth” or “157% growth” is only useful once an investor knows the prior-year number.

A rounding error looks like a moonshot when the starting point is close to zero. Investors who buy on the percentage alone are betting on a narrative, not a balance sheet.

That’s not necessarily wrong, but it’s a different kind of bet than the quantum revolution framing on trading platforms suggests this week.

Watch backlog conversion, not quarterly percentages

This pattern isn’t unique to quantum computing. Early-stage solar, biotech, and electric-vehicle stocks went through the same phase, when triple and quadruple digit growth headlines outran the dollar figures behind them.

The percentages shrink as the denominator grows, and so does the market’s appetite for celebrating them.

The more useful numbers to watch are backlog conversion and repeat orders. IQM Quantum Computers (IQMX) has told investors to expect most of its 2026 revenue in the fourth quarter, tied to system deliveries already inside its EUR 102 million order backlog.

D-Wave has guided to two to three full system sales a year starting in 2027. Those figures will look smaller than this week’s percentages. They will say more about whether quantum computing is becoming a real business.

Related: IBM CEO sends blunt message on quantum computing

After its former owner collapsed under unsustainable debt and the brand lost its physical retail presence, a once-popular fashion brand is making an unexpected return to stores.

The brand disappeared from the high street in 2019 after its then-owner entered administration, resulting in the closure of dozens of standalone stores and more than 100 department-store concessions.

The brand making its return is Karen Millen.

Founded in 1981, Karen Millen is a British womenswear brand known for its tailored clothing, coats, and occasionwear.

Karen Millen comes back to physical stores

Karen Millen is returning to physical stores seven years after shifting to an online-only retail model.

The physical relaunch began rolling out on August 14 through a partnership with The Foschini Group (TFG), with Karen Millen concessions opening across the UK at retailers including Hobbs, Phase Eight, and Whistles. The rollout is also expanding to Liverpool One and Aberdeen Union Square in Scotland.

The initial release will feature Karen Millen’s occasionwear and bestselling pieces, including items from its Forever Collection. The collection includes dresses, shirts, blazers, and coats, with prices ranging from £49 to £429 ($67 to $586).

“Karen Millen is a brand with real heritage, recognition and a loyal customer base, so bringing it back to the high street is a significant moment,” Debenhams Group CEO Dan Finley told Drapers.

“Our customers want great fashion, but they also want to experience brands in different ways, and physical retail gives us another opportunity to do that.”

Karen Millen returns to physical stores.tupungato / Getty Images

Why Karen Millen closed its physical stores

Karen Millen’s retreat from physical retail came during a broader financial crisis for its then-owner, Mosaic Fashions.

Mosaic Fashions entered administration in August 2019 after struggling with unsustainable debt and high operating costs. The company also faced challenges affecting the wider UK retail sector, including declining foot traffic and sluggish consumer spending, while efforts to secure a buyer for the business were unsuccessful.

In the UK, administration is an insolvency process that can provide financially distressed companies with protection from creditors while licensed insolvency practitioners work to restructure the business or find a buyer. It serves a broadly comparable purpose to Chapter 11 bankruptcy protection in the U.S., although the two processes operate under different legal frameworks.

The collapse resulted in the closure of 32 standalone Karen Millen stores in the UK, along with 117 department-store concessions. The brand subsequently operated entirely online.

A few months later, Karen Millen was acquired out of administration by Boohoo Group in an £18 million ($24.55 million) deal after Mosaic Fashions failed to find a buyer for the entire business.

Boohoo Group later changed its name to Debenhams Group in 2021.

The return to physical stores marks a significant change from the online-only strategy that followed the 2019 administration. Rather than rebuilding the standalone store network it once operated, Karen Millen is using concessions within established retail locations, allowing the brand to regain a physical presence without returning to the same store-heavy model that preceded its 2019 collapse.

Other retailers have also pulled back from physical stores

Karen Millen’s return comes as other UK fashion and department-store brands continue to face financial pressure, with some entering administration, closing physical locations, or shutting down their operations entirely.

Here’s some of my previous coverage with recent examples:

Quiz: Entered administration in February 2026 and closed all its remaining standalone stores in June.

LK Bennett: Entered administration in January 2026, closed all stores and concessions, and ceased e-commerce operations in April.

Harvey Nichols: Was acquired by Frasers Group in August 2026 through a pre-pack administration as the luxury department store faced mounting financial challenges.

Related: Discount grocery chain closes 12 stores after expanding too fast

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Why we love this deal

Style is subjective, and jewelry is one of the big shopping areas where it’s easy to see that. A stunning diamond bolo bracelet might be the perfect accessory for one person, while another might prefer something bolder. A pair of pearl earrings might seem super elegant and luxurious to someone else, but a bit too upscale for another. The point is that what shoppers reach for typically varies because of their own personal style, but something that many shoppers can agree on is that it’s hard to pass down a truly stunning cluster of stones, especially something like the Macy’s Citrine and Diamond Accent Pendant.

The necklace is available in five different gemstones, each colorful and vibrant, and right now, they’re all on sale during Macy’s semi-annual jewelry sale, which ends on August 24. The Macy’s Citrine and Diamond Accent Pendant, originally an $850 purchase, is now 71% off during this limited-time special, and you can get it for $249. Choose from citrine, amethyst, blue topaz, garnet, or peridot. 

Macy’s Citrine and Diamond Accent Pendant, $249 (was $850) at Macy’s

Courtesy of Macy’s

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Why do shoppers love it?

The color of the gemstone is truly remarkable. In fact, it’s what first pulls you in. Measuring 2-⅕ carats total, the oval-shaped citrine stone has a gorgeous yellow and orange hue that’s named after the French word for lemon. The traditional birthstone for November, it certainly isn’t relegated to strict wear during the fall. Its sunny color adds a bright, warm hue to anyone who wears it, and some say it’s even known to attract wealth, boost confidence, and bring positive energy if you’re someone into the traditions and myths of gems.

The citrine pendant is the focal point of this necklace, and it has triangular diamond accents arranged along the entire length around the gem. The diamonds are very small with sharp edges that add a nice contrast to the smooth, rounded edge of the citrine. The pendant charm sits about 0.5 inches off the gold clasp that attaches it to the necklace.

The pendant sits on a 10K yellow gold rope chain, which provides maximum structural security for everyday wear. Not only is it highly resistant to bending, scratching, and breaking, but the roped spiral design helps spread tension out more evenly than other styles to keep the pendant charm from weighing down the necklace. The chain measures approximately 18 inches long and has a spring-ring closure to provide a secure fit. 

Related: Macy’s $100 diamond-accented bolo bracelet is 60% off

Details to know

Material: Diamonds, citrine, and 10K yellow gold.

Carat: 2-⅕. Carat varies based on gemstone. 

Length: The necklace is approximately 18 inches long with a drop of approximately 0.5 inches. 

Gemstones: The necklace is available in citrine, amethyst, blue topaz, garnet, and peridot.  

Clasp: Spring-ring closure.   

Not only does this necklace come in other gemstone options, but this necklace is part of a three-piece collection. You can buy a matching ring and earrings if you really want to complete the look, and both are on sale as well

Macy’s Citrine and Diamond Accent Ring, $540 (was $1,350) at Macy’s

Courtesy of Macy’s

Shop at Macy’s

Macy’s Citrine and Diamond Accent Stud Earrings $249 (was $850) at Macy’s

Courtesy of Macy’s

Shop at Macy’s

Shop more deals 

Macy’s Lab-Grown White Sapphire Tennis Necklace, $411 (was $1,175) at Macy’s

Macy’s Diamond Pendant Necklace, $1,610 (was $4,746) at Macy’s

Macy’s Diamond Emerald-Shaped Halo Cluster Pendant Necklace, $399 (was $1,300) at Macy’s

With the sale price, the Macy’s Citrine and Diamond Accent Pendant is a worthwhile investment at 71% off, whether it’s a gift to yourself or a loved one. This isn’t a deal you’ll want to wait on, though, because come August 24, the price will likely go back up to $850.

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Why we love this deal

If you’ve ever had a power outage in the middle of winter, even in the South, you know how cold it can get. I remember family sleepovers in sleeping bags by the fireplace, trying to stay warm all night as the winter cold crept in during overnight power outages. Emergencies are the best time to be ready — whether it’s for natural disasters, power outages, or car trouble, having the items you need to stay comfortable and safe should be a priority, especially when they’re usually extremely simple to pack and often don’t cost more than a takeout dinner.

The Sherry Emergency Thermal Blanket 2-Pack is a fantastic example, offering warmth in a small, easy-to-store package. The size makes them convenient to keep in your car, in the closet, or in a go-bag if you need to leave quickly, and at just $6 apiece, they’re a great deal. 

Sherry Emergency Thermal Blanket 2-Pack, $12 (was $14) at Walmart

Courtesy of Walmart

Shop at Walmart

Why do shoppers love it?

This two-pack of emergency sleeping bags is designed to provide an extra layer of protection when conditions become difficult. Made from PET Mylar, the bags are built to resist tearing and punctures while keeping out rain and wind. The reflective material helps retain warmth when the temperatures drop, and at 83 inches long and 35 inches wide, it can be used as a sleeping blanket, wrap-around jacket, poncho, tarp, or a makeshift tent in the rain. It features a storage bag with a drawstring to easily store it in your pack or clip it to the outside of your pack for quick access. It can be folded down into a tiny square that fits in large pockets or smaller packs. 

Related: Walmart’s $100 pop-up canopy tent is only $51 just in time for tailgate season

The high-visibility orange color makes the bag easy to spot, which can be useful in a situation where you need to be located quickly or if you’re trying to find the blankets in an emergency. With two bags, this is a great option to add to any preparedness kit or to keep stuff in any of your daily or emergency packs. It also gives you the option to keep them in different places, keeping one in the car while the other stays in the closet at home, so it’s available in more than one place for an emergency. 

The design offers a reusable thermal bivy that can be used for more than just emergencies; it’s a great option to throw on the bed at night when it’s cold and you’re too tired to dig through the closet for an extra blanket, take to the park for a cool fall picnic, or use it as a tent liner while camping to help keep the heat in.  

Details to know

Size: Each blanket measures 83 inches long and 35 inches wide.

Thermal design: The Mylar traps in heat and keeps you warm in colder conditions.

Versatility: They can be used in emergencies, but also while camping, as an extra blanket at night, or as a picnic tarp. 

“They are a great gift for travelers,” one reviewer said. “If you get stranded, they can keep you warm. They’re great for camping out also. They are at a reasonable price and do what they are supposed to do.”

Another shopper said, “I keep one in my house and one in my car for peace of mind!”

Shop more deals

Ozark Trail Portable Electric Hand Warmer, $10 (was $11) at Walmart

Two-Way Walkie Talkie 2-Pack, $20 (was $31) at Walmart

Lanney Emergency Blanket 4-Pack, $20 (was $36) at Walmart

If you’re creating an essential emergency kit, the Sherry Emergency Thermal Blanket 2-Pack is a great addition. They can help preserve heat and keep you warm in super cold weather during a power outage or if you get stranded in your car. At just $6 apiece, this two-pack is a great steal for $12.

Most chip suppliers spend years trying to win a single hyperscale customer.

Marvell Technology (MRVL) just deepened its ties with all three of the largest ones, and it did so by giving Google a reason to keep spending.

On August 19, 2026, Marvell disclosed an expanded custom chip agreement with Alphabet‘s (GOOGL) Google. 

The company also handed Google a warrant, which is a contract that lets the holder buy stock later at a set price.

Marvell stock jumped, but the structure of the deal is what shareholders need to understand. 

Google does not get a cheap stake for free. It has to earn most of it by buying billions of dollars in chips.

That single condition changes how investors should read this news, and it decides whether the deal rewards current stockholders or costs them.

How the Marvell and Google custom chip deal actually works

Marvell agreed to develop a range of custom semiconductors for Google’s AI systems.

It issued Google a warrant to buy up to 58.97 million Marvell shares at a fixed price of $206.58, Reuters reported. 

At that price, the full position would be worth about $12.2 billion.

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The warrant does not force Google to invest that money now. Only about 1.4 million shares become available to Google in the first year, according to Marvell’s SEC filing.

The rest is tied to spending. 

One block of shares unlocks for every $500 million in custom chip revenue Marvell books from Google, running from the third quarter of fiscal 2027 through fiscal 2033.

To unlock the whole stake, Google would need to buy roughly $120 billion in Marvell products over that stretch, Reuters reported. 

Google can exercise the warrant until August 18, 2033.

Marvell will build AI inference accelerators, storage controllers, and networking hardware tied to Google’s TPU ecosystem under the expanded agreement.JHVEPhoto / Getty Images

Why Marvell stock jumped on the Google agreement

Marvell shares rose sharply on the news of the deal, gaining roughly 10% on August 19 and closing near $234, CNBC reported.

Investors reacted to what the deal signals about Marvell’s position. 

Google has relied mainly on Broadcom (AVGO) to co-design its Tensor Processing Units, the custom chips that run much of its AI work.

This agreement adds Marvell as a second major supplier inside that system. 

Marvell already builds custom silicon for Amazon (AMZN) and Microsoft (MSFT), so the Google deal gives it a foothold with all three of the biggest US cloud providers.

Broadcom shares fell about 4% to 5% the same day as investors considered the new competition. 

Broadcom still holds a long-term Google agreement running through 2031, so this is added competition rather than a replacement.

The bull case: locked-in demand and a bigger AI customer

The appeal for Marvell shareholders is the incentive built into the warrant.

Google only earns its discounted shares by spending money with Marvell. That ties one of the largest AI spenders in the world directly to Marvell’s revenue for years.

Big Tech firms are expected to spend more than $700 billion on AI infrastructure this year, Reuters reported. 

Related: Peter Thiel invests $118 million in surging big tech stock

Marvell now has a formal path to a larger share of Google’s portion of that budget.

The work also goes beyond one chip. 

Marvell will develop AI inference accelerators, storage controllers, networking hardware, and memory technologies for Google, according to its SEC filing. 

Inference is the stage where a trained AI model answers real user requests, and it is becoming a large and steady source of chip demand.

The risk investors cannot ignore: share dilution

The same warrant that rewards Marvell also carries a cost for existing owners.

If Google unlocks and exercises all 58.97 million shares, Marvell must issue new stock. 

That would dilute current shareholders by about 6.3% to 6.7%, Yahoo Finance reported. 

Dilution means each existing share represents a smaller slice of the company.

Here is the part that softens the concern. Full dilution only happens if Google hands Marvell roughly $120 billion in revenue first.

Many analysts view that as a productive trade. Marvell would give up a share of ownership only in exchange for years of guaranteed sales.

Google would become Marvell’s fifth-largest investor if it fully exercised the warrant.

What still has to happen before the deal pays off

The headline number is large, but it depends on actions that have not yet occurred.

For the full value to arrive, several things need to hold up:

Google keeps buying Marvell chips at scale through fiscal 2033.

Marvell delivers competitive custom silicon on schedule.

AI infrastructure spending stays strong across the cloud industry.

Google’s TPU roadmap continues to rely on outside suppliers.

Not all analysts read the deal as a blow to Broadcom. 

Morningstar analyst William Kerwin called it a strong win for Marvell but described it as Google adding new suppliers rather than dropping Broadcom.

Marvell stock versus the broader chip trade in 2026

Marvell had a rough summer before this deal, and the stock fell sharply in the weeks leading up to the announcement. 

The Google news reversed part of that decline in a single session.

Compared with peers, Marvell has lagged the biggest gainers. 

AMD (AMD) has surged more than 120% in 2026, while Nvidia (NVDA) is up about 18%. 

The Google agreement gives Marvell a specific catalyst that those comparisons did not price in before.

Investors will get another read soon.

Marvell reports quarterly results on August 27, and its management’s commentary on Google demand will matter more than the warrant headline.

What Marvell shareholders should watch next

This deal improves Marvell’s standing, but it is a multiyear setup rather than an immediate payout.

The practical takeaway is to track the spending, not the $12.2 billion figure. 

Related: Bank of America doubles down on Micron stock price for 2026

Each $500 million Google spends unlocks another block of shares, so revenue updates are the clearest sign the deal is working.

Watch three things in the coming quarters:

Marvell’s custom chip revenue from Google, reported over time.

Data center capital spending at Google and Amazon.

Any change in how quickly the warrant tranches vest.

If Marvell can convert this agreement into steady, growing orders, the dilution becomes a fair price for durable revenue. 

If Google’s spending comes in slower than expected, the stake stays mostly unearned and the stock loses one of its main supports. 

The August 27 earnings report is the next concrete test.