Future of Eureka Springs tourism agency, funding on the November ballot

by Talk Business & Politics staff (staff2@talkbusiness.net)

Eureka Springs, one of Arkansas’ tourism hot spots, faces the possibility of losing more than $2 million a year in hospitality tax revenue that is used to promote the city, manage city tourism assets and support tourism events.

In 2023, the tax generated $2.05 million, down 1.4% compared with 2022 revenue.

A group of citizens unhappy with the Eureka Springs Advertising and Promotion Commission (CAPC) have managed to place an item on the November general election ballot to remove the city’s 3% hospitality tax on prepared food and on lodging. It only took 148 signatures in a town of around 2,500 to get the item on the ballot.

Mike Maloney, tourism director of the Eureka Springs City Advertising and Promotion Commission, understands why some would like to see the tax and the commission go away. He readily admits that the commission has a troubled past, including a revolving door of leadership, a lack of transparency and questionable actions related to event promotion.

Future of Eureka Springs tourism agency, funding on the November ballot

Eureka Springs Tourism - Talk Business and Politics

The Supply Side: Walmart Connect targets $6B in ad revenue by 2025

by Kim Souza (ksouza@talkbusiness.net)

With more than 4,700 retail U.S. stores, Walmart has 139 million customers each week in stores and online. Walmart is leveraging its scale to entice advertisers who can bundle in-store and online advertising with Walmart Connect, the retail giant’s internal agency.

Shoppers nationwide can see more third-party ads on screens in Walmart self-checkout lanes and the TV wall at the back of the store. Radio ads are also part of the offering with Walmart Radio, played in stores and demo spaces where employees can give out sample items. These in-store marketing efforts can be married with several advertising options for brands on Walmart.com and its social media partners like TikTok and Facebook.

Walmart has been ramping up in-store ads using its approximately 170,000 digital screens in its stores and 30-second radio spots that the retailer can use to target a specific store or region. Walmart also sells demo stations where samples are handed out for everything from cereal bars to pizza bites and yogurt. QR codes at the demo tables allow shoppers to access online shopping options, meal ideas and seasonal information.

The Supply Side: Walmart Connect targets $6B in ad revenue by 2025

First-quarter net income expected to fall 55% for Tyson Foods

by Kim Souza (ksouza@talkbusiness.net)

Tyson Foods may post lower profits when it reports first-quarter earnings on Monday (Feb. 5.) Net income is forecast at $142.094 million, or 40 cents per share, down 55% from the year-ago period, according to a consensus of analyst estimates.

Revenue is projected at $13.36 billion, up less than 1% from the $13.26 billion reported a year ago. While the Springdale-based meat giant continues to face earnings challenges, Stephens Inc. analyst Ben Bienvenu is a little more optimistic for the rest of the year.

“We think chicken fundamentals are positioned to show improvement through this year, with margins headed toward historical average profitability, a welcomed change after a difficult last year. But given the length of the beef cycle, shares are trading at discounted levels. As we move through the next several years we think improving earnings power will increasingly push Tyson Foods shares higher,” Bienvenu noted.

First-quarter net income expected to fall 55% for Tyson Foods

Arkansas 9th in SEC athletics revenue in fiscal year 2022

by Paul Gatling (pgatling@nwabj.com)

The University of Alabama athletics department was the Southeastern Conference revenue king in fiscal year 2022.

The Crimson Tide’s revenue of $214.36 million in the 12 months from July 1, 2021, to June 30, 2022, ranked first among the league’s 13 public universities. $130.9 million of Alabama’s revenue, or 61%, came from the school’s football program.

The Northwest Arkansas Business Journal compiled the data through public records requests. The research does not include private schools that are not subject to public records laws. Vanderbilt University, a private school, is the only SEC school not included.

https://talkbusiness.net/2023/02/arkansas-9th-in-sec-athletics-revenue-in-fiscal-year-2022/