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☆ Attacks on ships in the Red Sea are disrupting global trade. Here’s how it could affect what you buy
▼ + stars: | 2024-01-28 | by ( ) www.cnbc.com time to read: +8 min

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was "impacting everyone and something we're very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was "only mildly impacted by the transit challenges in the Red Sea."

Persons: It's, Petersen, Ryan Petersen, Clifton Broumand, Broumand, it's, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti Organizations: Galaxy, Houthis Media, Getty, Machine, Hamas, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer Urban Outfitters, Free People Locations: Iran, Yemen, Anadolu, Greater Landover , Maryland, Taiwan, China, Gaza, Panama, Asia, Europe, United States, Suez, Africa, Ukraine, Belgium, Germany, British, Maryland, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India

☆ How Stanley went from making sturdy bottles for laborers to becoming an 'it' status symbol, and causing chaos at Target stores across the US
▼ + stars: | 2024-01-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +10 min

"Every time we linked it, it would sell out so quickly," LeSueur told The New York Times. The Buy Guide had to pay for warehouse space and shipping and handling fees, but was allowed to keep the profits, The Times reported. "It was a big risk," LeSueur told CNBC. AdvertisementThe Buy Guide placed another wholesale order for 5,000 – and they sold out in an hour, Retail Dive reported. Reilly told CNBC that Stanley was making more products available with each drop but still wanted "a little bit of scarcity" to create a buzz.

Persons: —, Stanley, They've, Alphas, William Stanley Jr, Grace Dean, restocking, Ashlee LeSueur, Taylor Cannon, Linley Hutchinson —, LeSueur, Emily Maynard, Maynard, Terence Reilly, Reilly, he'd, Crocs, Frederic J . Brown, TikTokers, Bon Appétit, Stanley's Quenchers, Lainey Wilson, aren't, Gen Zers, Alpha, Casey Lewis, Lewis, –, Zers, they'll, Grace Mary Williams, it's, Kaitlin Gostel, Barnes, Noble, Harry Potter, Gostel, I've Organizations: Service, Business, Instagram, New York Times, CNBC, Times, The Times, Wall Street, Getty, Target, Starbucks Locations: Brooklyn, workdays, Crocs, AFP, Pendleton

☆ Paris Fashion Week: What we saw at the Fall-Winter 2024 menswear shows
▼ + stars: | 2024-01-23 | by ( Samantha Tse | ) edition.cnn.com time to read: +8 min

Paris CNN —The Fall-Winter 2024 menswear shows in Paris saw the return of Balmain Homme after a four-year absence, Givenchy’s first collection since Matthew Williams’ departure and the runway debut of fashion company 032c. Je T’imbsParis fell hard for Timberland’s iconic six-inch yellow boots last week, in what is the heritage American brand’s 50th anniversary year. They look Black, they look Native American.”Shoes as armorIn many collections this season, sneakers were swapped for more formal footwear options. Models at Balmain Homme wore shiny black block-heeled boots encrusted with crystal detailing or monochrome square-toed wingtip boots with loose-cut trousers in bold colors. Ballet dancer Rudolf Nureyev provided inspiration from the ground up for Kim Jones' Dior Homme collection.

Persons: Givenchy’s, Matthew Williams, Aaliyah, Tupac, B.I.G —, Louis Vuitton, Wales Bonner, Vuitton, Francois Durand, Pharrell Williams, Timbs ”, ”, Maisie Willoughby, “ Howard ”, Ik, Rhude, Mike Amiri, Grandpa cardigans, Louis, ” Williams, “, Shutterstock, Rick Owens, Valerio Mezzanotti, Van Noten, Kim Jones, Dior Homme, Straytukay, Owens, Balletcore, Balletcore ”, Dior, Rudolf Nureyev, Jones ’, Colin Jones, Jones, Valentino’s Pierpaolo Piccioli, Valentino, Pierpaolo, Givenchy —, Matthew M, Williams, —, Hubert de Givenchy’s Organizations: Paris CNN, Balmain Homme, American, Louis, Getty, Vuitton, Wales, Ivy, Black Howard University, Lakota, Vogue Locations: Paris, Italy, Washington, Wales, American, Los Angeles, Amiri's, Dakota, Van, Belgian, London, Russian, Givenchy

☆ Shein and Temu use a loophole to ship millions of packages to the US tax-free. Here's why the tax rule faces increased scrutiny.
▼ + stars: | 2024-01-22 | by ( Madeline Stone | ) www.businessinsider.com time to read: +9 min

The other bill, from Sen. Bill Cassidy and Sen. Tammy Baldwin, would ban de minimis shipments from China. The provision is more likely to change — a prospect that both Shein and Temu have said they support. Jennifer Ortakales Dawkins/InsiderShipping consultancy ShipMatrix estimates that Shein and Temu each ship more than a million packages to the US daily. It added that almost 50% of all de minimis shipments to the US come from China. Related stories"Changes to the exemption could create a paradigm shift for retailers like Temu and Shein," Bank of America analysts wrote in the note.

Persons: minimis, Earl Blumenauer, Russia —, Bill Cassidy, Sen, Tammy Baldwin, Cassidy, Baldwin, Jay Sole, It's, Jennifer Ortakales Dawkins, Shein's, Temu, Shein, Donald Tang, SHEIN, de minimis, they've, Steve Story, Sole, Satish Jindel, ShipMatrix, Jindel Organizations: Business, Customs, Rep, Bank of America, US Chamber of Commerce, Express, UBS, Pinduoduo Holdings, Goods, Shipping, Chinese Communist Party, China . Shipping, Wired, Shein, American Apparel and Footwear Association, Apex Logistics International, Walmart Locations: Xinjiang, China, Russia, Sen, Singapore, Boston, minimis, United States, mstone@insider.com

☆ I'm 38 and suddenly thinking about aging all the time. I don't want to dress or wear my hair like I'm trying to 'look young.'
▼ + stars: | 2024-01-20 | by ( Melissa Persling | ) www.businessinsider.com time to read: +4 min

I'm not sure why the realization that I was getting along in years surprised me so much. I don't want to look like I'm trying too hardNow that I'm thinking more about my age, I often wonder if I'm trying too hard to appear young . I don't spend every waking moment cursing the young and trying to get men to look at me. (I also know from experience that Aveeno products will not make you look anything like Jennifer Aniston, unfortunately.) But I will never wear a bra as a shirt, no matter how cute I feel, because I am 38.

Persons: I'm, I've, Melissa Persling, I'd, Jennifer Aniston

☆ Cristóbal Balenciaga: Secrets of his success
▼ + stars: | 2024-01-19 | by ( Suyin Haynes | ) edition.cnn.com time to read: +9 min

Yet the label’s origins were rather more discreet; founder Cristóbal Balenciaga was renowned for his privacy, secrecy and need for control over every aspect of the design process. “Even though Balenciaga was born very near to where I live in Spain, I didn’t know how important his figure was,” said Lourdes Iglesias, creator of “Cristóbal Balenciaga,” in an interview with CNN via a translator. Cristóbal Balenciaga in 1927, before the war in Spain forced him to move his business to Paris. “He liked to control everything.”The Balenciaga Maison allowed series’ costume designers, Bina Daigeler and Pepo Ruiz Dorado, access to their archives and museum. It’s clearly a very different era now than the one in which Cristóbal Balenciaga was working in.

Persons: Cristóbal Balenciaga, Cristóbal, Balenciaga, —, “, ”, Lourdes Iglesias, David Herranz, Iglesias, Coco Chanel, Elsa Schiaparelli, Boris Lipnitzki, Roger Viollet, Balenciaga ”, Alberto San, Maison, couturiers, d’Attainville, Christian Dior, ” Coco Chanel, Hubert de Givenchy, Grace Kelly, Wallis Simpson, Marlene Dietrich, Carmel Snow, Diana Vreeland, Maison Balenciaga, Bina Daigeler, Pepo Ruiz, Daigeler, Victor Seco, ” Iglesias, Jacques Bogart, Nicolas Ghesquière, Demna, It’s Organizations: CNN, Disney, Jacques Bogart SA Locations: Spain, Paris, Getaria, Basque, Madrid, San Sebastian, Barcelona, French, Alberto San Juan ., Nazi, France, Pepo Ruiz Dorado, Belgian, Europe

☆ Red Sea attacks already bigger issue for supply chain than pandemic, maritime advisory warns
▼ + stars: | 2024-01-18 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

The strikes are a response to attacks on the Red Sea, adding complexity to the regional conflict originating from Israel's Gaza war. With that exception, "This [the Red Sea crisis] is the largest single event – even larger than the early pandemic impact," Murphy said. Sea-Intelligence analyzed current vessel delays compared to delays over the last several years in a report for clients. A leading ocean supply chain advisory firm is warning that the disruptions to shipping from the Houthi rebel attacks in the Red Sea are already more damaging to the supply chain impact than the early Covid-19 pandemic. "Threats to Red Sea shipping are a threat to maritime commerce worldwide," said Steve Lamar, CEO of the American Apparel and Footwear Association.

Persons: Luis Boza, Alan Murphy, Murphy, Hope, Steve Lamar Organizations: Getty, Intelligence, MSC, Volvo, Michelin, Ikea, American Apparel and Footwear Association, Logistics, CNBC Locations: Lisbon, Portugal, U.S, Yemen, Red, Gaza, Suez, Good Hope, Europe, United States, Asia

☆ Birkenstock spooks with cautious outlook even as its sandals stay on trend
▼ + stars: | 2024-01-18 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Birkenstock sandals might be as pricey as ever, and the folksy footwear are as popular with shoppers as ever, too. Despite strong sales, the company gave a cautious outlook for 2024, saying it expects “modest headwind to impact margins.”Birkenstock shares dipped nearly 8.5% on the news Thursday. “They have really strong profitability that was really eating them during their IPO and post IPO. “Overall the brand remains healthy with strong sales growth in the fourth quarter and encouraging first-quarter trends so far. “The comfort of these sandals coincided with the casual comfort dressing trend that was already in play pre-pandemic and accelerated through it.

Persons: “, Abigail Gilmartin, Gilmartin, ”, TikTok, Beth Goldstein, Birkenstocks, Birkenstock, ” Goldstein Organizations: New, New York CNN, Bloomberg Intelligence, CNN, “ Locations: New York

☆ Ballet Flats for the Bow Obsessed
▼ + stars: | 2024-01-18 | by ( Gisela Williams | Emilia Petrarca | ) www.nytimes.com time to read: +2 min

This week, she released a collaboration with the New York-based footwear brand Loeffler Randall, adding her signature bows to its Leonie ballet flat. “I often wear ballet flats with my clothes because they’re the right shape and tone,” Salter explains, alluding to the soft, off-duty nature of the look. The flats, which have an elastic strap you can tuck in, currently come in ballet pink and black moire embroidered with Salter’s illustrations. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times. Subscribe .

Persons: Salter, Sandeep Salter, Randall, Leonie, ” Salter, ”, “ It’s Organizations: New York, New, The Locations: Brooklyn, New, New York

☆ We are 2 brothers who left corporate jobs to start our own sneaker company. Here's how we found our niche in a market dominated by big brands.
▼ + stars: | 2024-01-15 | by ( Katie Balevic | ) www.businessinsider.com time to read: +6 min

They create skateboarding and lifestyle shoes and hope to leave the company to their kids someday. The brothers, ages 50 and 41, respectively, have nearly 50 years of experience in the footwear industry between them, working at Vans, Converse, Supra Footwear, and Quiksilver, among others. AdvertisementBrandon: I had always drawn as a kid, but I didn't really take it seriously. Brandon: Of course, it'd be awesome to be a $200 million company, but do we need to grow it that big? Or do we need to grow it big enough to be a legacy company where eventually our kids work here with us?

Persons: Brandon, Josh Brubaker, —, Clearweather, There's, We're, Josh, Nobody, It's Organizations: Footwear, Service, Clearweather Footwear, Vans, Converse, Supra Footwear, Nike, Adidas Locations: California, Quiksilver

☆ Wolverine World Wide sells Sperry to Authentic Brands Group in shoe retail deal
▼ + stars: | 2024-01-11 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

Wolverine World Wide has sold Sperry to brand management firm and Reebok owner Authentic Brands Group, as the footwear retailer looks to focus on better performing assets, the company announced Thursday. Aldo will also work with the brand on footwear design, production and global distribution. It already works closely with Authentic on running brands like Roxy and Brooks Brothers. The deal will generate $130 million, which Wolverine plans to use to pay down debt, it said. Wolverine originally acquired Sperry, a 90-year-old brand, in 2012 from Payless ShoeSource owner Collective Brands in a $1.23 billion deal that also included Saucony, Stride Rite and Keds.

Persons: Aldo, Brooks, Wolverine, Payless, Saucony, Merrell, Hush, Betty, Sperry, Wolverine's, Brendan Hoffman Organizations: Sperry, Reebok, Authentic Brands, Aldo Group, Brooks Brothers, Brands Locations: Ireland

☆ I walk 10,000 steps a day—a longevity expert says I'm doing myself a favor: It's 'the most effective way' to exercise
▼ + stars: | 2024-01-11 | by ( Ester Bloom | In Esterbloom | ) www.cnbc.com time to read: +3 min

So far, I'm succeeding: In 2023, I averaged 10,632 steps a day, or just over 5 miles. But walking a lot can still improve your well-being: Just 4,000 steps per day reduces your risk of "all-cause mortality," according to a recent study. Certified nutritionist and longevity expert Michiko Tomioka, who herself aims for 10,000 steps a day, says that's "the most effective way [to get exercise]: Just take a walk." But to keep my body from complaining, I've had to invest in durable, supportive shoes, and quality doesn't come cheap. Hitting 10,000 steps requires being intentional—and creativeOn weekends, I may take my kids with me as I wander, or my husband, or my neighbors and proto-friends.

Persons: Michiko Tomioka, I've, Una Naidoo, Ester Bloom, Aaron, Sorkin, he'd Organizations: Harvard Medical School Locations: Manhattan, Bronx, New Orleans

☆ Inside the rise of Chiara Ferragni, the social media mega-star who's been accused of misleading followers into buying a charity cake
▼ + stars: | 2024-01-10 | by ( Andrew Lloyd | Charissa Cheong | ) www.businessinsider.com time to read: +6 min

Chiara Ferragni is an Italian influencer with just under 30 million followers on Instagram. Here's how the digital entrepreneur shot to social media superstardom. The item was packaged with a pink box featuring Ferragni's name and logo, as well as an illustration of the social media star. AdvertisementBut how did Ferragni become such a social media superstar and build her empire — amid this controversy? Amid the recent scandal, Ferragni's massive online presence continues to span social media.

Persons: Chiara Ferragni, Here's, —, Ferragni, Balocco, Louis Vuitton, Gucci, Federico Leonardo Lucia, Leone, Fedez, ferragnez, Lapresse, Eugenio Fusco, Alessandra Balocco Organizations: Service, Regina Margherita Hospital, Italian Competition Authority, Authority, Associated Press, Milan's Bocconi University, Financial Times, Teen Vogue, Forbes, Harvard Business School, Prada, AP Locations: Italian, Turin, Italy, Balocco, Milan, Venice, TikTok

☆ Global shipping rates set to jump as carriers avoid the Red Sea amid Houthi attacks
▼ + stars: | 2024-01-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products. British clothing retailer Next recently warned of stock delays as a result of the longer ocean transit. "This creates strong motivations for ocean carrier(s) to increase rate(s) by establishing General Rate Increases (GRIs), Peak Season Surcharge (PSSs), and other contingency or emergency surcharges," the company said. "HLS warned Transpacific freight rates could spike to highs not seen since early 2022, with the Suez Canal route suspended, and the Panama Canal route restricted." Kuehne + Nagel analysts told CNBC that 419 vessels are currently being rerouted due to the Red Sea situation.

Persons: Jon Gold, HLS, Good Hope, Kuehne, Nagel, Franziska Bietke, Mark Rhodes, Rhodes Organizations: Lane Shipping, Ikea, National Retail Federation, CNBC, MSC, U.S ., East, U.S . Shipping Act, Federal Maritime Commission, Kuehne, Logistics, Crane Worldwide Logistics, CNBC PRO Locations: Suez, Ismailia, Egypt, Iran, Red, Africa, Asia, British, West Coast, Panama, U.S . West Coast, East Coast, Gulf of Mexico, South Africa's, Good, Project44, Europe

☆ Nike, Foot Locker shares sink after athletic apparel maker cuts revenue outlook
▼ + stars: | 2023-12-22 | by ( Drew Richardson | ) www.cnbc.com time to read: +1 min

Nike shares plunged Friday after the athletic apparel maker cut its revenue outlook for the fiscal year, with sneaker retailer Foot Locker also feeling the blow. Foot Locker, which relies heavily on Nike products in its stores, closed down nearly 4%. Nike said in its earnings report Thursday that the company now expects its revenue to grow 1% for the fiscal year, down from the prior outlook of mid-single-digit growth. The company also said it was going to cut costs of upward of $2 billion over the next three years. The new outlook reflects increased headwinds "particularly in Greater China and EMEA," finance chief Matthew Friend said in the earnings call Thursday.

Persons: Locker, Matthew Friend, Cowen, Goldman Sachs, Gabrielle Fonrouge, Michael Bloom Organizations: Nike, EMEA, CNBC PRO Locations: Greater China

☆ A lot of things are getting cheaper. Here's why you probably haven't noticed.
▼ + stars: | 2023-12-05 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

The price of durable goods is deflating, though many Americans may not feel the impact. AdvertisementEven though inflation is still higher than ideal, many things are actually getting cheaper. The prices of durable goods, meaning long-lasting items such as used cars or appliances, have fallen year-over-year for each of the last five months. That decreased demand has helped push down goods prices. AdvertisementTo be sure, most items Americans are purchasing on the daily are still inflating.

Persons: —, Morgan Stanley, durables, HENRYs Organizations: Service, Commerce Department, Street, Federal Reserve, Consumer, Sporting, Services

☆ A millennial woman said she's 'obsessed' with Gen Z's cozy going-out fashion and reflected on the 'uncomfortable' rompers and bandage skirts she wore
▼ + stars: | 2023-12-05 | by ( Kieran Press-Reynolds | ) www.businessinsider.com time to read: +5 min

Ally Rooker said she appreciates Gen Z students dressing much cozier, with baggy pants and simple tops. However, millennial viewers reflected fondly on their style, and some called Gen Z fashion "lazy." The clip has inspired other millennial viewers to reminisce on their mid-to-late 2000s fashion and argue over whether Gen Z fashion is innovative or uninspiring. AdvertisementWhile a few viewers thanked Gen Z for shattering nightlife attire conventions ("I'm soooo jealous of the gen z going out vibe," one user said), others denigrated the younger generation's style as "lazy" and "terrible." TikTok has been rife with clips comparing millennial and Gen Z fashion.

Persons: Ally Rooker, —, Gen, Rooker, Gen Z, TikTok, pant, @jessbritvich Organizations: Service Locations: Michigan

☆ A formfitting blazer and Chelsea boots, or jeans and high-top sneakers? Here's how the 2023 rising stars of VC put together their 'power outfits.'
▼ + stars: | 2023-12-04 | by ( Madeline Renbarger | Ben Bergman | Darius Rafieyan | ) www.businessinsider.com time to read: +8 min

Many of this year's VC rising stars told Business Insider that their go-to power outfits included apparel like tailored sport coats or Chelsea boots, and more casual pieces like hoodies and well-fitting jeans. Very few investors are wearing collared shirts with their jackets, opting instead to pair it with a t- shirt and jeans. Nmachi Jidemna told Business Insider that for her everyday wear, her go-to was "usually a structured blazer with a relaxed pair of jeans." Lori Harvey (left) and Heidi Klum (right) wearing red outfits. Black flowy trousers, black turtleneck, and chunky black boots."

Persons: that's, Laura Bock, Nmachi Jidemna, Javier Grevely, Ralph Lauren, Tobi Coker, Janelle Teng, Patron's Amber Atherton, Jason Yeh, Ashley Paston, Justin Williams, VCs, Mahati Sridhar, Grady Dick, Michelle Farsi, Pear, Vivien Ho, Lori Harvey, Heidi Klum, Valentina Frugiuele, Bauer, Griffin, Luci Fonseca, RTFKT, Brandon Hoffman, JL, Sarah Wu, Emerson, Fiona Huang, Demi Obayomi, Natalie Borowski, Daisy Wolf, Andreessen Horowitz Organizations: Business, Wellington Management, Converse, Seae Ventures, Getty, GV, Nike, Sunset Ventures, Bain Capital Ventures Locations: London, Chelsea

☆ These 10 stocks notched double-digit gains and outperformed the market in November
▼ + stars: | 2023-12-01 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

FL YTD mountain Foot Locker (FL) performance year-to-date Foot Locker (FL) climbed 28.3% during November, making it the Club's No. Foot Locker stock, down more than 26% year-to-date, closed 1.4% lower Thursday, at just under $27.28 apiece. CRM YTD mountain Salesforce (CRM) performance year-to-date Salesforce (CRM) shares jumped 25.4% in November, coming in second place for monthly gains. NVDA YTD mountain Nvidia (NVDA) performance year-to-date Nvidia (NVDA) — an "own it, don't trade it" name — was the portfolio's fifth-best performer in November. WFC YTD mountain Wells Fargo (WFC) performance year-to-date Shares of Wells Fargo (WFC) jumped 12.07% in November, as the broader market rally lifted financials.

Persons: Jim Cramer, Mary Dillon's, Locker, Palo, CrowdStrike, We're bullish, —, Wall, Walt Disney, Nelson Peltz's, Wells, Morgan Stanley, Sam Altman, OpenAI, Altman, Jim Cramer's, Jim, Michael M Organizations: —, Palo Alto Networks, Palo Alto, Management, Nvidia, DIS, Walt Disney, Disney, Oracle, Microsoft, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: FL, Palo, Palo Alto, Wells, Wells Fargo, OpenAI, DHR

REUTERS/Mike Segar/File Photo Acquire Licensing RightsDec 1 (Reuters) - Retailers like Amazon.com and Foot Locker are signaling optimism for holiday season sales after stronger-than-expected figures during Black Friday and Cyber Monday, as heavy discounts lured budget-strained customers on the peak U.S. shopping days. Early estimates on holiday shopping have been encouraging to some investors after retailers sounded cautious notes in the lead-up to the season. "We know we're buying for wallet share with a value-conscious consumer this holiday season. Deep discounts have been a key feature heading into this year's holiday shopping season and holiday discounts could get even bigger in December, according to some retail executives. Kohl's (KSS.N) CEO Tom Kingsbury said last week the company was "coming out on holiday very aggressively in terms of promotions."

Persons: Mike Segar, Jimmy Lee, we've, Mary Dillon, Tom Kingsbury, Cos, Jason Benowitz, Deborah Sophia, Juby Babu, Pooja Desai Organizations: REUTERS, Adobe Analytics, National Retail Federation, Wealth Consulting, Amazon, Black, BofA, Walmart, Abercrombie, Fitch, American Eagle Outfitters, Roosevelt, Thomson Locations: Robbinsville , New Jersey, U.S, Bengaluru

☆ Stocks making the biggest moves midday: Foot Locker, General Motors, Phillips 66 and more
▼ + stars: | 2023-11-29 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Late Tuesday, the company reported fourth-quarter earnings of 2 cents per share, topping the FactSet consensus estimate of a loss of 7 cents per share. Foot Locker — The footwear retailer gained 17% after Foot Locker topped analysts' expectations in its third quarter. The company also issued third-quarter earnings guidance and a full-year forecast that came ahead of what the Street anticipated. Workday — The enterprise cloud stock popped 12% after Workday reported third-quarter results that exceeded expectations. Phillips 66 — Phillips 66 gained 3.6% after Elliott Investment Management on Wednesday said it took a $1 billion stake in the company.

Persons: Locker, CrowdStrike, General Motors, Vestis, Phillips, — Phillips, CNBC's David Faber, Jabil, Hormel, LSEG, —, Alex Harring, Darla Mercado Organizations: Rover, Blackstone, Fluence Energy, Revenue, LSEG, General, GM, United Auto Workers, Hewlett Packard Enterprise, Elliott Investment Management, Petco, Wellness, Hormel

☆ Why Cramer thinks Foot Locker's surprising results are 'very encouraging'
▼ + stars: | 2023-11-29 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. "I go back and forth with Mary Dillon as CEO," Jim Cramer said Wednesday, noting the footwear retailer's string of disappointing quarters. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Mary Dillon, Jim Cramer's, Jim Organizations: CNBC, Commerce Department, Treasury, Organization of, Petroleum, . West Texas

☆ Stocks making the biggest moves premarket: General Motors, Petco, Foot Locker and more
▼ + stars: | 2023-11-29 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Petco — Shares of the pet retailer plummeted 17% after reporting a third-quarter loss of 5 cents per share. Analysts had anticipated the company would earn 2 cents per share on revenue of $1.51 billion, according to a LSEG survey. CrowdStrike — Shares of the cybersecurity company gained 2.7% after it reported positive third-quarter earnings and raised its fourth-quarter forecast. The results topped estimates of 74 cents per share on revenue of $777 million expected by analysts, according to LSEG. The company, which was slated to report its third-quarter earnings after the bell on Wednesday, posted its results early.

Persons: TD Cowen, Steve, Hormel, LSEG, NetApp, CrowdStrike, Okta, Phillips, Elliott, CNBC's David Faber, —, Macheel, Jesse Pound Organizations: Toyota, AstraZeneca, pharma, LSEG, General Motors, GM, JMP Securities, Elliott Management Locations: Tuesday's, U.S

☆ Better than feared financials are fueling Foot Locker's stock surge. But we'll take it
▼ + stars: | 2023-11-29 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Foot Locker (FL) reported quarterly results that can only be described as better than feared: Nearly all of the important metrics came in weaker than a year ago, but they weren't as terrible as expectations on Wall Street. While Wednesday's surge put Foot Locker's quarter-to-date gains at nearly 60%, the stock was still down roughly 27% in 2023. Better sales guidance than previously forecast and only a slightly worse earnings outlook also helped juice shares of Foot Locker. In our view, this is appropriate because Foot Locker is a turnaround story. Shoppers leave the American multinational sportswear and footwear retailer, Foot Locker store in Spain.

Persons: Locker, We're, Mary Dillon, Dillon, we're, Michael Baughn, comps, Cash, Jim Cramer's, Jim Cramer, Jim, Xavi Lopez Organizations: Sports, Nike, Management, EMEA, CNBC, Shoppers, Lightrocket, Getty Locations: North America, Middle East, Africa, Asia, Spain

☆ From 'chunky' dad shoes to laminated eyebrows, a millennial mom broke down the Gen Z trends she said she won't be 'gaslit' into adopting
▼ + stars: | 2023-11-29 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

A millennial mom on TikTok took umbrage with Gen Z trends, igniting intergenerational discourse. She's not a fan of laminated eyebrows, the "glass skin" trend, "chunky" dad shoes, or mini Uggs. While millennials' style is often critiqued by Gen Z, the TikToker said she doesn't take the debate seriously. AdvertisementA millennial mom recently took umbrage with several popular Gen Z fashion and beauty trends, igniting intergenerational discourse about eyebrows and sneakers on TikTok. In a separate clip, she noted millennials have often been the butt of Gen Z critiques, including being labeled "cheugy" (or basic) for wearing skinny jeans, hairline side parts, and over-the-knee boots.

Persons: TikTok, She's, Gen Z, —, Melissa, I'm Organizations: Service

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