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☆ Stick with this mega-cap tech stock that still has room for outsized growth
▼ + stars: | 2023-05-31 | by ( Paulina Likos | ) 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. 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 . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Big, Dow, Bernstein, Mary Dillon, Foot, Dillion, Jim Cramer's, Jim Organizations: CNBC, Amazon New, Big, Nasdaq, Dow, Devices, Nvidia, Meta, Wednesday, Club, Services, New Locations: AMZN, FL

☆ Nigerian Food and Fashion Came Together at This Dinner Party in Brooklyn
▼ + stars: | 2023-05-25 | by ( Camille Okhio | ) www.nytimes.com time to read: +1 min

In 2010, Busayo Olupona was working as a corporate finance lawyer in New York City when she began making dresses from traditional African textiles, both as a creative outlet and as a way to connect with her heritage. In 2013, she decided to turn her hobby into a business, launching Busayo, a collection of full-skirted dresses, voluminous pants and puff-sleeved tops, all produced in the country where she spent her childhood. Over the past decade, her designs have been spotted on celebrities like Lupita Nyong’o and Gwyneth Paltrow, and picked up by luxury retailers including Neiman Marcus and Moda Operandi. When she’s home in Brownsville, Brooklyn, Olupona jumps at any opportunity to host a gathering. “Nigerians love a good party,” she says, recalling childhood memories of her parents and their friends dancing to the jùjú music by Shina Peters and King Sunny Ade, dressed up in Nigerian lace and head wraps.

☆ Here's why Jim Cramer is sticking with Foot Locker despite terrible quarter and big stock drop
▼ + stars: | 2023-05-19 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Club holding Foot Locker (FL) reported disappointing fiscal 2023 first-quarter results and guidance before the opening bell Friday. Foot Locker, which announced the Eastbay closure in December, will concentrate on its namesake and Champs stores. Unfortunately, the rebound from these headwinds has also proven weaker than management previously expected. When starting a position in Foot Locker in March, we knew the company would not be fixed quickly. Shoppers and pedestrians pass in front of a Foot Locker store on the Third Street Promenade in Santa Monica, California.

☆ Cramer didn't expect Foot Locker's results to be this bad — but turnarounds take time
▼ + stars: | 2023-05-19 | by ( Paulina Likos | ) 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. While we didn't expect the results to be this bad, we certainly didn't have high expectations for the quarter. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Here's what to expect when Club apparel retailers TJX and Foot Locker report this week
▼ + stars: | 2023-05-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Apparel retailers TJX Companies (TJX) and Foot Locker (FL) are set to deliver quarterly results this week, as consumers continue to be squeezed by a slowing economy and still-persistent inflation. Sneaker retailer Foot Locker reports Friday before the opening bell, with Refinitiv estimates showing revenue should have fallen by 8.3 % annually, to $1.90 billion, with EPS falling 49 % to, 81 cents. Foot Locker is going through a transitionary period as it reinvents itself, so our expectations are low for the first quarter. "Don't expect anything from Foot Locker," Jim Cramer said Monday. Foot Locker Inc. signage is displayed in the window of a store in New York, U.S. Michael Nagle | Bloomberg | Getty Images

☆ ‘Lazy Luxury’ Sneakers: Are These the Most-Worn Shoes on Private Jets?
▼ + stars: | 2023-05-15 | by ( Jamie Waters | ) www.wsj.com time to read: 1 min

TYING SHOELACES is a ho-hum task, but in 2023, many moneyed men have expunged that 20 seconds of tedium from their mornings. Postpandemic, C-suite sorts are padding about in slip-on shoes sophisticated enough for the boardroom yet as comfy as cashmere pajamas, according to personal stylists who cater to the one percent. Laceless footwear is “very, very popular at the moment” due to its convenience, said Milda Chellingsworth, a London stylist who counsels corporate heavyweights aged 40 to 70 from around the world. Cassandra Sethi, a Los Angeles stylist, is also fielding more requests for slip-ons from CEO types who’d rather not have to do any knotting. “Non-lace footwear is really valuable for them,” she said.

☆ Debt ceiling crisis hangs over markets, with investors hoping to avoid a repeat of 2011
▼ + stars: | 2023-05-13 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +8 min

Republicans, led by House Speaker Kevin McCarthy, want to attach spending cuts to any agreement to raise the debt ceiling. Biden and the Democrats say they are willing to talk about spending cuts but only outside the debt ceiling discussions. Raising the debt ceiling would allow the government to pay for spending that has already occurred. That year, the debt ceiling was raised at the last minute but not before a summer of bickering sent the S & P 500 down 17% from late July to mid-August. The market this past week stumbled with the debt ceiling deadline looming and over concern about regional bank failures.

☆ Can Inflation Fall Fast Enough for the Fed?
▼ + stars: | 2023-05-10 | by ( Justin Lahart | ) www.wsj.com time to read: 1 min

WSJ’s Nick Timiraos explains how 2% became the central bank’s sweet spot, and what happens when the U.S. economy strays from it. Photo Illustration: Preston JesseeInflation is still too high. That probably won’t lead Federal Reserve policy makers to raise rates when they meet next month, but unless inflation comes down significantly in the months ahead, Fed policy makers will lace up their boots and start hiking all over again. Maybe it will.

We're buying 300 shares of Foot Locker (FL) at roughly $38.69 each. We're using the recent weakness in Foot Locker to add to our small position and improve our average cost basis. Sure, Foot Locker's stores are a great place to pick up the latest Steph Curry sneaker from Under Armour. A year later, she came back for the Foot Locker job, which we think speaks volumes about her commitment to overhauling the sneaker chain. As we wait for this turnaround to play out, Foot Locker offers a 4.11% annual dividend yield, which adequately compensates us for our patience.

☆ ‘Oliver!’ Returns, With Darker Twists Intact
▼ + stars: | 2023-05-01 | by ( Sarah Bahr | ) www.nytimes.com time to read: +1 min

It was 10 a.m. on a recent morning in a rehearsal room at New York City Center, and nine boys scurried around the space, clutching parasols of red and white lace, tin cups and jaunty pocket squares. “OK, everyone!” said Lorin Latarro, the choreographer of the show, a new staging of “Oliver!,” the Lionel Bart musical opening at City Center on Wednesday for a two-week run as part of the Encores! “Would you risk the ‘drop’?” he sang, his eyes bugging as he grabbed his scarf and mimed a noose tightening around his neck. (Translation: Are you willing to go out and commit robbery and possibly face the gallows if you’re caught?) All nine pickpockets in training nodded enthusiastically.

☆ The most drastic measures celebrities have taken to wear daring fashion at the Met Gala
▼ + stars: | 2023-05-01 | by ( Amanda Krause | ) www.businessinsider.com time to read: +1 min

Beyoncé had garments tailored and hand-dyed while she rehearsed for a concert on the day of the 2012 Met Gala. Beyoncé attends the 2012 Met Gala. But when she suddenly decided to attend the Met Gala, they changed their plans. If it does, she's going. If not, she's not going,'" Hunter said to the Givenchy team at the time.

Persons: Beyoncé, Larry Busacca, Riccardo Tisci, Ty Hunter, she's, Hunter Organizations: Givenchy, Rit

☆ She Wrote Frankly About Divorce, and Suffered the Consequences
▼ + stars: | 2023-04-30 | by ( Alexandra Jacobs | ) www.nytimes.com time to read: +1 min

The “young single woman in the city” genre feels almost as old as cities. Probably someone was wandering around ancient Athens in a fetching tunic with a papyrus scroll detailing how Hermes got handsy. But modern New York is where the genre has reached its apotheosis, from Edith Wharton to Beyoncé and beyond. In this mostly upward and exuberant history, the writer Ursula Parrott has been largely (and sadly) omitted. Their divorce would inspire “Ex-Wife,” the most successful of her 20 books.

☆ Britain's Charles to use crimson and purple robes at coronation once worn by George VI
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 29 (Reuters) - Britain's King Charles will wear robes of crimson and purple silk velvet at his May 6 coronation which were once worn by his grandfather King George VI at his own coronation in 1937, Buckingham Palace said on Saturday. Charles and his wife Camilla will wear two sets of robes at the coronation service: crimson Robes of State when they arrive and purple Robes of Estate as they leave, all conserved or made by the 334-year-old London tailors Ede and Ravenscroft. Kirsty O'Connor/Pool via REUTERS 1 2 3Insects, including bees and a beetle, will feature on a coronation robe for the first time, the palace said. Pictures released by the palace showed members of the Royal School of Needlework carrying out work on a crimson velvet robe several feet long with a gold lace border, to be worn by Charles. Reporting by Sachin Ravikumar; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ Gareth Bale: Wrexham owners make audacious attempt to coax Welsh football legend out of retirement
▼ + stars: | 2023-04-26 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

Oh, just arguably the greatest Welsh footballer of all time, Gareth Bale. In a video posted on the Twitter account of Rob McElhenney – one of Wrexham’s owners alongside movie star Ryan Reynolds – Bale is seen offering his well wishes to the club after its promotion. “Hi Rob, just wanted to congratulate you on your promotion and everything you’re doing at Wrexham,” the recently-retired Bale says. “Hey @GarethBale11, let’s play golf, where I totally won’t spend 4 hours trying to convince you to un-retire for one last magical season,” McElhenney wrote. Gareth Bale is a Welsh football legend.

We're buying 350 shares of Foot Locker (FL), at roughly $40.43 apiece. Following Monday's trade, Jim Cramer's Charitable Trust will own 700 shares of FL, increasing its weighting in the portfolio to 1.06% from 0.53%. There hasn't been a lot of news around Foot Locker dating back to our initial buy in March , with the exception of one key data point. In late March, CEO Mary Dillon disclosed she purchased roughly $500,000 worth of Foot Locker stock , at $39.74 a share — bolstering our confidence in the company's turnaround strategy. Dillon joined Foot Locker last year after a very successful run as CEO of Ulta Beauty (ULTA).

☆ Meta's job cuts are gutting customer service, leaving influencers and businesses with nobody to call
▼ + stars: | 2023-04-05 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +13 min

As part of the company's two rounds of layoffs, equaling roughly 21,000 job cuts, Meta gutted wide swaths of its customer service operation, leaving influencers and businesses with nobody to contact about their accounts. CNBC spoke with influencers, small businesses and Meta account managers as well as a half-dozen former contractors and former Meta employees about the deterioration in customer service at the company since the job cuts began in November. Holliday said it appears that the only people who get customer service are those who represent a company that's spending heavily on advertising. However, some influencers say Facebook has had such poor customer service that there's no reason to pay for it. After all the problems she's experienced, Karlova questions whether Meta will be able to provide better customer service.

☆ Hot off an up quarter for stocks, investors turn to jobs, manufacturing data
▼ + stars: | 2023-04-01 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Another busy week of macroeconomic data will kick of the new quarter, following a volatile first quarter for stocks that ultimately finished in the black. The market's second quarter kicks off Monday with the ISM manufacturing report, followed on Tuesday by data on factory orders. We're looking for a Goldilocks report: not so hot to stoke more inflation fears, but not so cold to intensify worries about a recession. Wednesday's ADP employment report is also important, given the Fed's goal of slowing the job market to bring down inflation. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Investing Club mailbag: When do we expect our stocks to hit their price targets?
▼ + stars: | 2023-03-30 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

How far out does a Club stock price target project: three months out, six months out, or one year out? Our price targets are based (usually but not always) on earnings estimates for the next full fiscal year. They also update their price targets based on these updated estimates. As a result, sometimes price targets are moving targets versus planting a flag in the ground about one certain price. (For a look at how to arrive at our price targets in the first place, we've written about that in a previous commentary .)

Foot Locker (FL) traded lower early Wednesday after analysts at UBS downgraded their rating on it to sell from neutral and lowered their price target to $30 from $36. One reason why UBS says Foot Locker is challenged is that it thinks Nike (NKE) as a percentage of Foot Locker sales will decline to 55% to 60% from 70% over the next 12 to 18 months. Her expertise is in developing brand partnerships across several different companies, and that's essential for a multi-brand retailer like Foot Locker. Between UBS who put a sell on Foot Locker vs. CEO Mary Dillon who just bought stock, we'll side with the seasoned executive who just kicked off a turnaround plan. Foot Locker exclusive Puma Transformers Trainers released on November 22nd on display on Day 3 of MCM London Comic Con 2018 at ExCel on October 28, 2018 in London, England.

☆ We're initiating a position in this retailer as a turnaround play
▼ + stars: | 2023-03-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Shortly after the opening bell on Monday, we will be initiating a position in Foot Locker (FL) , buying 350 shares at roughly $38.46. Foot Locker shared its fourth-quarter 2022 results and held an investor day event last Monday. Closing these doors will also allow Foot Locker to shift resources and products to higher performing off-mall and A/B locations. But one point to keep in mind about Foot Locker is that this is a turnaround play. Nike sneakers sit on display at a Foot Locker store inside the South Park Mall in Strongsville, Ohio, March 4, 2014.

With estimates pushing higher, we think the rally in META still has more room to run, prompting us to raise our price target. Bullpen The newest addition to our bullpen is Foot Locker (FL). Foot Locker has also been a victim of the shift to shopping on ecommerce platforms, given its large presence in malls. But if she can do for Foot Locker what she achieved at Ulta Beauty, Footlocker's shares can go much higher. An employee arranges a sneaker display at a Foot Locker Inc. store inside the South Park Mall in Strongsville, Ohio.

☆ Here's why the Street is impressed by Foot Locker's new 'Lace Up' strategy
▼ + stars: | 2023-03-21 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why the Street is impressed by Foot Locker's new 'Lace Up' strategyMad Money host Jim Cramer talks to Foot Locker CEO Mary Dillon about the company's good quarter, but not great guidance, and her strategy for Foot Locker going forward.

☆ Foot Locker to close 400 mall stores as it shifts focus to niche shops for sneakerheads, kids, and higher-income shoppers
▼ + stars: | 2023-03-20 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

As part of a new business plan, Foot Locker will close hundreds of underperforming stores in malls. Although it also plans to open stores, Foot Locker expects to have 10% fewer locations by 2026. Foot Locker also reported quarterly earnings on Monday above forecasts, but it offered sales guidance lower than expected. While closing hundreds of underperforming mall-based stores, Foot Locker plans to open more than 300 "new concept" stores by 2026, including outside of malls. During the investor day presentation, Foot Locker CEO Mary Dillon said the store's "attracting an older and higher-income shopper."

☆ Foot Locker is closing 400 stores by 2026
▼ + stars: | 2023-03-20 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Foot Locker is planning to shut 400 stores by 2026 as it strives to become more relevant to younger shoppers by relaunching its retail brands, introducing “experiential” new store concepts and simplifying its operations by closing underperforming mall-based stores. The stores slotted for closing across North America account for nearly 10% of Foot Locker’s total sales, said Anthony Aversa, Foot Locker senior vice president of store development. Under its corporate umbrella, Foot Locker operates more than 3,000 Foot Locker, Kids Footlocker, Champs Sports, WSS and atmos stores globally. Foot Locker reported fourth quarter sales Monday that eased 0.3% versus a year ago. Foot Locker CEO Mary Dillon told analysts she thinks hybrid work is here to stay and it’s fueling the strength and longevity in casual dressing.

☆ On Oscars Carpet, the ‘Naked Dress’ Ruled
▼ + stars: | 2023-03-13 | by ( Rory Satran | ) www.wsj.com time to read: +1 min

Rihanna and red carpet host Ashley Graham in complementary revealing looks on Oscar night. Today’s Naked Dress trend, in full effect at the Oscars and its various celebrations Sunday, is in line with Saint Laurent’s prescient vision of glamorous nudity. On the Academy Awards’s red carpet, the Naked Dress continued its proud, chilly parade with looks such as Eva Longoria’s Zuhair Murad white lace gown and Ashley Graham’s fully sheer black tulle dress with cutouts. To the Vanity Fair Oscars party, Olivia Wilde wore a white Gabriela Hearst column cut away to reveal a leather bra. Rihanna’s custom Alaïa leather dress worn over a sheer jersey bodysuit was a provocative pregnancy twist on the look.

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