Business

Shares of McCormick & Co. slipped Thursday after the Hunt Valley-based spice-maker reported better-than-expected third-quarter earnings and record sales but said it continued facing supply chain struggles. Last month, the company warned of a weaker-than-expected third quarter marked by supply chain issues and the impact of inflation on consumer spending. McCormick’s stock closed down 88 cents at $72.43 a share in Thursday trading. Sales during the quarter ended Aug. 31 increased 3% to $1.59 billion from $1.54 billion in the third quarter of 2021, which included an unfavorable impact from the sale of the company’s Kitchen Basics business. Analysts expected sales of $1.59 billion, according to Zacks Consensus Estimate.

Amazon will hire 150,000 full-time, part-time and seasonal employees across its warehouses ahead of the holiday season. The announcement, made Thursday, shows the e-commerce behemoth is taking a less conservative approach to its holiday planning than Walmart, which said last month it would hire 40,000 U.S. workers for the holidays, compared to 150,000 in 2021. Amazon, which typically beefs up its operations during the holidays, was looking for the same number of seasonal employees last year. Its other competitors, UPS and Target, have said their holiday hiring plans will also remain in line with the prior year.

Baltimore Washington International Thurgood Marshall Airport is moving ahead on the largest capital project in its history, with a $332 million construction contract up for approval by the state’s spending board next week. The multi-year project, which was delayed amid the pandemic, will renovate and expand the connector between concourses A and B, add new passenger amenities including food and retail concessions and new restrooms, install a new baggage handling system and create larger gate areas to accommodate the bigger airplanes being flown by Southwest Airlines, the airport’s largest carrier.

Baltimore’s spending board approved an additional $1 million award to a consulting firm that’s assisting with the city’s goal-setting process despite concerns raised about the cost and transparency of the deal. The Board of Estimates approved the contract extension Wednesday by a 3 to 1 vote with one abstention, extending the life of the city’s agreement with consulting firm Ernst & Young by six months and doubling the cost of the deal.

Under Armour Inc. has promoted two executives to C-suite roles as the Baltimore sportswear maker continues to search for a permanent CEO. David Baxter, who has been senior vice president of Americas wholesale since 2020, will become president of the Americas, taking over for Stephanie Pugliese who is leaving the company after three years. Mehri Shadman will become chief legal officer and corporate secretary, taking over for John Stanton, who is retiring after 16 years. Shadman has been with Under Armour for nine years and currently serves as deputy general counsel for corporate and risk, and as assistant corporate secretary. Both promotions are effective Oct. 24, Under Armour said in a release late Wednesday.

Another union has approved the deal it made with the major freight railroads last month that helped prevent a strike to secure 24% raises and $5,000 in bonuses for the workers it represents. The American Train Dispatchers Association said Tuesday that 64% of its roughly 1,600 members approved the deal with Union Pacific, BNSF, Kansas City Southern, CSX, Norfolk Southern and other railroads. The union said dispatchers will receive an average payout of $17,500 when the five-year deal becomes final because it is retroactive to 2020. Four smaller railroad unions have now approved their deals with the railroads, but the two biggest unions that represent engineers and conductors won’t vote on their tentative agreements until mid-November.

Bull on the Beach — a mecca for pit beef and steamed shrimp in Ocean City for 42 years — is closing its 2nd Street location this month, with plans to relocate the restaurant to another spot on or off the boardwalk. “We’re down but we’re not out,” General Manager Brad Wells said on Tuesday. “We’re looking for another spot to build our brand.” But Wells acknowledged that finding a new location of about 2,000 to 3,000 square feet on the boardwalk, which he dubbed Ocean City’s “Times Square,” will be a challenge because of the rising real estate prices in the resort town. But Bull on the Beach didn’t really have a choice but to make a move. The boardwalk location closes on Oct. 23.

The oldest members of Generation X are within 10 years of turning 65 years old. Still, according to studies and financial planners, that cohort of Americans trails previous generations in preparing to retire. Members of Generation X, those born between 1965 and 1980, generally accumulated more student debt and often incurred larger credit card bills than members of the Baby Boomer or Silent Generations. As a result, their retirement savings are lagging, and they’re usually not receiving the financial advice they need to catch up. “Generation X is kind of overlooked in the way financial planning advice is given,” Dale Horn, managing director of UBS Financial Services Inc., said.