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Over the past few years, he said, it's looked for factories in other countries, including Cambodia, Vietnam, Mexico and Brazil. Rosenfeld said about two-thirds of Steve Madden's business are U.S. imports. Of that, he said, "we currently source a little bit more than 70% of those goods from China." That means slightly less than half of its business would be at risk of tariffs on Chinese imports, he said. He said the company has moved more of its production outside of China since tariffs began under Trump's first administration.
Persons: Steve Madden, Donald Trump, Edward Rosenfeld, it's, " Rosenfeld, Steve Madden's, Trump, Tarang Amin, Trump's, Kate Spade, Scott Roe, we've, Gabrielle Fonrouge Organizations: Retail Locations: China, Cambodia, Vietnam, Mexico, Brazil
Media landscape shifts Most of the value in professional sports is propelled by media rights deals, and we're in an unusual sweet spot right now for sports. Still, gaining access to 11 teams' media rights is probably in the league's long-run best interest. You have the WNBA rights term worth $2.2 billion over 11 years with league expansion going from 12 to 15 teams. Media landscape shifts Most of the value in professional sports is propelled by media rights deals, and we're in an unusual sweet spot right now for sports. Still, gaining access to 11 teams' media rights is probably in the league's long-run best interest.
Persons: Alex Sherman, Jeff Zucker, Patrick Whitesell, Zucker, Scripps –, it's, Alex Michael, he's, Michael, they're, There's, Caitlin Clark, Michael said, weathers, AEW, I'm, Tony Khan —, he'd, Khan, US Networks Kathleen Finch, Max, hasn't, Finch, Rob Manfred, doesn't, CNBC's Lillian Rizzo, Craig Kilborn, Barrett, Jackson, Caitlin Clark's, You've, Soccer League's Nielsen, Tom Brady, Father, Brady, Jess Golden, Michael Jordan, Libs, Jim France, OneFootball, Lionel Messi, Jessica Pegula, CNBC's, Venu, Fubo, Venu …, Nike, Matthew Friend, John Donahoe, Elliott Hill, Sabrina Ionescu –, Jane Hali, Jessica Ramirez, AE1, Gabrielle Fonrouge, Ariel Atkins, DiDi Richards, Craig Hudson Organizations: CNBC, Endeavor, WNBA, NCAA, National Women's Soccer League, Amazon, CBS, ESPN, Scripps, NBA, Fox, NBC, Apple, Google, MLS, Clark, Warner Bros ., TNT, TBS, Warner Bros, Discovery, US Networks, Diamond Sports Group, U.S, Bankruptcy, Southern, Southern District of, Major League Baseball, Atlanta Braves, MLB, Holdings, UFC, WWE, WME Sports, ATP, Miami, NCAA Women's, Soccer, Angel City FC, NFL, Premier League, Netflix, Tech, CNBC Sport, Father Time, NASCAR, Motorsports, Major League Soccer, American, NHL, Buffalo Sabres, Bills, Disney, International Center for Law & Economics, Nike, New York Liberty, Air Force, Air Jordan, League Men's NCAA, Gonzaga, Pac, West Coast Conference, FloSports, Sports, Indiana Fever, Washington Mystics, Capital, Washington , D.C, Washington Post Locations: York City, Southern District, Southern District of Texas, OpenBet, U.S, Kobe, Washington ,
Top 10 things to watch Wednesday, Sept. 25 — Today's newsletter was written by the Investing Club's director of portfolio analysis, Jeff Marks. 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: Jeff Marks, Morgan Stanley's, Adam Jonas, Jonas, Tyson Food, Piper Sander, KeyBanc, they've, Wells, Baker Hughes, Halliburton, SLB, Baird, Gabrielle Fonrouge, Expedia, Cowen, Oppenheimer, Jim Cramer's, Jim Cramer, Jim Organizations: Club, Nvidia, Micron, U.S, Ford, General Motors, Hewlett Packard Enterprise, Barclays, Juniper Networks, Micro, Dell Technologies, Union Pacific, Department, Google, Jim's, Jim Cramer's Charitable, CNBC Locations: U.S, China
Foot Locker stock surges as CEO works to turn company around
  + stars: | 2024-05-30 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFoot Locker stock surges as CEO works to turn company aroundCNBC's Gabrielle Fonrouge talks Foot Locker's turn around story as the stock surges on quarterly results.
Persons: CNBC's Gabrielle Fonrouge Locations: CNBC's
Tiger Woods ends Nike partnership after 27 years
  + stars: | 2024-01-08 | by ( Jessica Golden | ) www.cnbc.com   time to read: +3 min
Tiger Woods during the pro-am as a preview for the Hero World Challenge at Albany Golf Course in Nassau on Nov. 29, 2023. Tiger Woods' 27-year partnership with Nike has come to an end. "Phil Knight's passion and vision brought this Nike and Nike Golf partnership together and I want to personally thank him, along with the Nike employees and incredible athletes I have had the pleasure of working with along the way," Woods wrote. In a statement, the company said: "For over 27 years, we have had the honor to partner with Tiger Woods, one of the greatest athletes the world has ever seen. Yet, Woods brought significant exposure to the Nike brand.
Persons: Woods, Tiger Woods, Phil Knight's, Mark Steinberg, Tiger, Roger Federer, Marc Maurer, it's, TaylorMade, aren't, Brian Yarbrough, Edward Jones, Eric Smallwood, LeBron James, Smallwood, — CNBC's Gabrielle Fonrouge Organizations: Nike, Nike Golf, CNBC, Apex Marketing, Golfers, CNBC PRO Locations: Nassau, Swiss, Orlando, Oregon
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
Just hours after being named GameStop 's CEO, Ryan Cohen sent out a memo to employees Thursday that emphasized he will take dramatic steps to ensure the struggling video game retailer survives. I expect everyone to treat company money like their own and lead by example." Cohen, a billionaire activist investor and founder of direct-to-consumer pet food and supply retailer Chewy , was named the company's new leader Thursday morning. Cohen's CEO announcement previewed the company's emphasis on slashing costs: He will not receive a salary in his new role. I expect everyone to treat company money like their own and lead by example.
Persons: Ryan Cohen, " Cohen, Cohen, Matt Furlong, Mike Recupero, Furlong, Ryan, CNBC's Gabrielle Fonrouge Organizations: GameStop, CNBC, RC Ventures Locations: Grapevine , Texas
Why the revenue impact of retail shrink may be overblown
  + stars: | 2023-09-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the revenue impact of retail shrink may be overblownSteve Grasso, Grasso Global CEO, and CNBC's Gabrielle Fonrouge join 'Power Lunch' to discuss the scope of retail shrink, the impact shrink has on retail sales numbers, and the struggle to develop a system to combat shrink.
Persons: Steve Grasso, Grasso, CNBC's Gabrielle Fonrouge Organizations: Grasso Global
A Shein App is shown in the iOS App Store in Bargteheide, Germany, May 3, 2021. Fast-fashion competitors Shein and Forever 21 have joined forces. Shein's deal with Forever 21 comes as it tries to distance itself from sharp criticism and gear up for a widely rumored U.S. initial public offering. While Shein and Forever 21 have similar shoppers, they have catered to those customers in different ways. By teaming up, Shein and Forever 21 will have new ways to reach customers.
Persons: Shein, Brooks, Lucky Brand, — CNBC's Gabrielle Fonrouge Organizations: Sparc Group, Sparc, Authentic Brands, Simon Property Group, Wall Street Locations: Bargteheide, Germany, Shein, China, Singapore, Dallas, Los Angeles
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRetailers are asking lawmakers to help crack down on product theftCNBC's Gabrielle Fonrouge joins 'Power Lunch' to discuss concerns of organized crime behind retail theft, the impact of retail theft on company profits, and more.
Persons: Gabrielle Fonrouge
Bank of America has committed to giving more than $500 million in equity investments to minority- and women-led fund managers to support diverse entrepreneurs, the bank announced Thursday in a press release. The program started in 2020 and so far, more than 150 funds have used the equity to invest in upward of 1,000 companies, collectively controlling $7 billion of capital, Bank of America said. This translates to support for 1,500 diverse entrepreneurs and the employment of more than 21,000 people. Bank of America is also separately working with the National Football League and National Black Bank Foundation to support Black- and minority-owned banks, CNBC's Frank Holland reported. "We're very focused on supporting our fund managers," Nguyen said.
Persons: Nguyen, Gabrielle Fonrouge, CNBC's Frank Holland Organizations: of America, Bank of America, National Football League, National Black Bank Foundation Locations: Crunchbase
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBuy Buy Baby draws sale interest in Bed Bath & Beyond bankruptcyCNBC's Gabrielle Fonrouge joins 'Power Lunch' to report on Buy Buy Baby drawing sale interest in Bed Bath & Beyond bankruptcy.
Persons: Gabrielle Fonrouge Locations: Bath
Target said Wednesday that organized retail crime will fuel $500 million more in stolen and lost merchandise this year compared with a year ago. He described retail theft as "a worsening trend that emerged last year," and said violent incidents have increased at Target's stores. "The country has a retail theft problem," Home Depot CFO Richard McPhail said on a call with CNBC on Tuesday. Yet it's hard to verify if organized retail theft has grown and if so, by how much. Target has become more vocal about organized retail theft, as it has struggled with excess inventory and its margins have disappointed.
WASHINGTON — Bipartisan lawmakers are urging the nation's top markets regulator to require Chinese fast-fashion giant Shein to disclose potential forced labor practices ahead of the company's possible initial public offering in the United States. "As a global company, Shein takes visibility across our entire supply chain seriously. We have zero tolerance for forced labor." "Other experts argue that it is appropriate to presuppose that any product made in the XUAR is made with forced labor." Independent coalition Shut Down Shein has also called on the SEC to deny IPO registration to Shein unless it provides proof of compliance with the Uyghur Forced Labor Prevention Act.
Nordstrom on Monday said it has tapped former Nike operating chief Eric Sprunk to join its board, as the company faces pressure from an activist investor. Sprunk, who was Nike's COO from 2013 to 2020, will join the board immediately, the company said. In a news release, Nordstrom board member Brad Tilden highlighted Sprunk's "track record of driving e-commerce growth and large-scale transformations within a complex global business." Nordstrom did not say in the news release whether the board appointment was board of an agreement with Cohen. Net sales for the company's namesake banner decreased 2.4%, and net sales for its off-price banner, Nordstrom Rack, dropped 8.1% in the quarter versus the year-ago period.
Activist investor Ryan Cohen is building a stake in the department store chain as he looks to shake up its board, people familiar with the matter told CNBC. Tritton had once worked at Nordstrom, and Cohen thinks this makes him "conflicted and unqualified" to serve, the Journal report said. JWN 1D mountain Nordstrom shares surged after a report says Ryan Cohen is building a stake in the department store chain. 'Begs for an activist' The department store business hasn't been an easy one as shoppers buy more goods online or look to avoid large malls. The analyst also recalled that El Puerto de Liverpool, a Mexico City-based department store operator, holds a 10% stake in Nordstrom.
Several press releases allegedly sent from Adidas about a Berlin Fashion Week launch, its treatment of workers abroad and other topics related to its business structure were fake, according to the company. The groups hope Adidas signs onto the Pay Your Workers labor agreement, which advocates for garment worker pay and the right to organize. Two of the faked press releases claimed Adidas was launching new clothing called REALITYWEAR from celebrities Pharrell Williams, Bad Bunny and Philllllthy. The hoax release announcing the Berlin Fashion Week debut on Jan. 16 claimed it was part of a push for a renewed focus on workers' rights and material sourcing. The Guardian first reported that The Yes Men were behind the campaign.
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