Business

FedEx has ended its naming rights agreement to the Washington Commanders stadium in Landover, a venue that had been known as FedEx Field since 1999. The move confirmed Wednesday comes two years prior to the expiration of the current agreement scheduled for 2026, and as the NFL club under new ownership looks for a site on which to build a new stadium that would open later this decade.

COPT Defense Properties’s plan to unload the high-profile Baltimore office towers it so eagerly snapped up in a now-abandoned market strategy will have to wait. The Columbia-based real estate investment trust’s office buildings, like many in Baltimore and beyond, have been battered by a post-pandemic market riddled with office vacancies. COPT’s trophy 100 Light St., a stalwart in Baltimore’s central business district since 1975, lost $6 million in value this past year alone.

Macy’s announced this week it will close 150 stores in the next three years as part of its efforts to accelerate luxury growth, improve the customer experience and expand its other brands, including Bloomingdale’s and Bluemercury. In a press statement, Macy’s said that at this time they are not sharing the list of stores slated to close. It is unclear whether the county’s two Macy’s locations–in Westfield Wheaton mall and Westfield Montgomery mall in Bethesda–will be impacted.

The gambling boom is growing — and its next move could put poker chips in Marylanders’ pockets. Just over a year after online sports betting became legal in the state, two bills in the General Assembly seek to give voters the option to legalize internet gaming, which is gambling via online slot machines, blackjack, poker and other casino games. Lawmakers heard testimony earlier this week from proponents, including casino and industry leaders, and opponents, including those concerned about the effects of problem gambling and addiction.

If there is a word to describe Constellation Energy’s performance in 2023, it would be one that CEO Joe Dominguez frequently uses in talks with analysts: “overperformance.” The Baltimore company (NASDAQ: CEG) recorded record profits last year, reporting adjusted earnings before taxes (EBITDA) of $4.025 billion for the year, which was above the top end of the company’s guidance range. Dominguez said on Tuesday he expects 2024 to be another strong year for the company as it continues to benefit from federal energy legislation, increased energy demand and a rise in data centers. Constellation expects to grow its earnings per share by 10% over the next decade, the company said.

One of the country’s largest producers of cannabis edibles is expanding to Maryland as the state prepares to give out over 100 new licenses. Oregon-based Wyld began selling its products in dispensaries across the state this week after building a cannabis production kitchen in White Plains in Charles County. Maryland stood out to the company because it offered an opportunity to get established early in the recreational market, Vice President of Marketing Ben Gaines said.

TRIBE, an innovative movement and wellness school that is the brainchild of co-founders Lola Manekin, Barri DeFrancisci and Gary Grisham, is set to open April 6 at 107 E. Preston St. in the Mount Vernon section of Baltimore.The group signed a full-building lease with MCB Real Estate for 6,000 square feet of space and expects to employ between 20 and 25 people at the space formerly occupied by Charm City Yoga.