Bloomberg Money Minute: Saks CEO Exits, Tesla's Struggles, Stranger Things Event Success, and Live Music Growth

Saks CEO Steps Down Amid Restructuring

• 📌 Saks Global Enterprises CEO Marc Metrick is stepping down as the high-end retailer explores restructuring options.
• ⚠️ Sources indicate that a Chapter 11 bankruptcy filing is being considered by the cash-strapped company.

Tesla Faces Delivery Decline and Competition

• 📉 Tesla's stock is under pressure as its electric vehicle deliveries have fallen for the second consecutive year.
• 🚗 The company has been overtaken by Chinese rival BYD in terms of vehicle deliveries.

"Stranger Things" Event Drives Theater Revenue

• 🎬 AMC Theatres saw over 753,000 attendees for showings of the "Stranger Things" finale on New Year's Eve and Day.
• 💰 While there was no admission charge, attendees were required to purchase $20 per person in food and beverages, generating $5 million in purchases over the two days.

Live Concerts Power Music Industry Growth

• 🎤 Live shows are identified as the primary driver of revenue growth in the music industry.
• 📈 Goldman Sachs projects the live music sector to grow by more than 7% annually in the coming years.