National news relevant to the region

In national news relevant to the region, Macy’s Inc. reported first quarter 2024 results evidencing a downturn in a challenged retail market and one restaurant chain has filed for bankruptcy.

Net sales of $4.8 billion, down 2.7% versus the first quarter of 2023. Gross margin rate for the quarter was 39.2%, down from 40.0% in the first quarter of 2023.
Merchandise inventories were up 1.7% versus first quarter of 2023. “Entering the second quarter of 2024, end-of-quarter inventories are well-positioned for the upcoming summer season,” Macy’s said.

Red Lobster has filed for Chapter 11 bankruptcy, closing some restaurants in the U.S. mainland. Triple J Enterprises operated a restaurant in Guam at the Tumon Sands Plaza, opening in July 2019. The restaurant closed in July 2021, after Triple J cited the COVID 19 pandemic’s challenges as the reason.

The Fort Wayne Children’s Zoo in Indiana is conserving birds found in the Northern Mariana Islands.

The Saipan Reed Warbler, courtesy of the Fort Wane Children's Zoo

The zoo studied the Saipan Reed Warbler in February, and may move some birds to other islands, according to Fort Wayne’s Channel 15, which reported on the Mariana Avifauna Conservation program, which studied 21 birds in February.

Saipan Golden White-eyes were successfully relocated in 2019 and the zoo has a specimen in its bird dome as well as a Marianas Fruit Dove.
According to Journal files, a similar program at the Smithsonian national zoo is helping to preserve the Guam Rail, a flightless bird, also known as the Ko’ko’ bird. Conservation efforts in Guam to preserve the Ko’ko bird include those of the U.S. Fish and Wildlife Service in Guam. mbj

Chamber forum highlights multiple economic topics

SAN ROQUE, Saipan — Northern Mariana Islands government and business leaders outlined strategies to revive tourism, expand economic sectors, strengthen workforce development, invest in infrastructure, and leverage U.S. military spending during the Saipan Chamber of Commerce Economic Forum on March 11 at the Kensington Hotel Saipan.

From power costs to liquid oxygen, Guam sees challenges

According to a March 17 release, John M. Benavente, general manager of the Guam Power Authority, has recommended maintaining the current Levelized Energy Adjustment Clause through the remainder of the current review period, which runs from Jan. 1 through July 31, as the utility continues monitoring global fuel market volatility following the geopolitical conflict between the United States and Iran.