Bloomberg Pier 1 Imports Inc announced a plan to cut costs at the chain, which is under siege from newer online rivals. The company also announced an interim chief financial officer from AlixPartners LLP, a company known for its turnaround and restructuring practice. Part of Pier 1’s “action plan’’ includes generating cost savings and benefits of as much as $110 …

Bloomberg Call it the nostalgia factor: PepsiCo is getting a boost from some of its classic brands. The snack and beverage giant posted quarterly results that beat estimates, sending shares to the highest since at least 1980. The company’s sales growth was boosted by its key Frito-Lay operation and North American beverage unit, with its Pepsi soda line and Lay’s …

Bloomberg You’d need a cast of thousands to re-enact Black Friday at a Walmart store, so virtual reality comes in handy at the company’s training centres. Employees get to experience a shopper stampede on their headsets, part of a widening national effort that encompasses some 7,000 workers a week. The retail giant isn’t alone. From hotels to fast food chains, …