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☆ Dozens of retailers jacked up interest rates on store cards ahead of Fed cuts
▼ + stars: | 2024-11-22 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

Now we see it's very common for these store cards to charge over 30%." Just before the Fed began its rate-cutting cycle in September, many retailers and their bank partners raised interest rates on their store cards to protect their profits when the federal funds rate — which determines their own interest rates — came down. Now, the average interest rate on a store card is at an all-time high just ahead of the holiday shopping season, which is when most consumers sign up for store cards. That was less than half of the interest rate increase for store cards seen from September 2023 to September 2024, when the federal funds rate didn't budge. When asked why they increased the APR on their store cards, the companies that returned CNBC's request for comment pointed vaguely to industry standards and the current economic environment.

Persons: Tommy, Petco, Ted Rossman, it's, Jasmine Matheney, Nordstrom, Matheney, you've, preemptively Organizations: U.S, Federal Reserve, Navy, Academy Sports, Fed, CNBC, Comenity Bank, Big Lots Locations: Petco, Burlington, Macy's, Michael's, Michigan

☆ Retailers jack up APRs on store cards ahead of the holidays
▼ + stars: | 2024-11-22 | 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 EmailRetailers jack up APRs on store cards ahead of the holidaysGabrielle Fonrouge, CNBC Business News retail reporter joins 'Fast Money' to talk store card APRs spiking ahead of the holidays.

Persons: Gabrielle Fonrouge Organizations: CNBC Business News

☆ Gap shares surge as it raises guidance, touts 'strong start' to holiday
▼ + stars: | 2024-11-21 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

As soon as the weather turned around, sales "rebounded" and the holiday shopping season is off to a "strong start" so far, said Dickson. The brand has seen four straight quarters of positive comparable sales and is benefiting from better marketing and product, the company said. Banana Republic: The trendy workwear line grew sales 2% to $469 million while comparable sales fell 1%, a bit worse than the 0.8% drop that StreetAccount had expected. Athleta: The athleisure arm of Gap's empire grew sales by 4% to $290 million while comparable sales were up 5%. In the year-ago period, comparable sales were down 19% at Athleta.

Persons: Richard Dickson, Dickson, We've, he's, StreetAccount, Alo Yoga, Chris Blakeslee Organizations: Old Navy, Fulton, Hurricanes, Navy, LSEG, CNBC Locations: Downtown Brooklyn, New York City, Banana Republic, StreetAccount ., Athleta

☆ TJ Maxx parent says holiday shopping is off to a 'strong start,' but its guidance tells another story
▼ + stars: | 2024-11-20 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

TJX Companies touted a "strong start" to the holiday shopping season on Wednesday, but its shares slid after the fast-growing retailer offered guidance that appeared to underwhelm Wall Street. "The fourth quarter is off to a strong start, and we are excited about our opportunities for the holiday selling season. For its holiday quarter, TJX is expecting comparable sales to grow between 2% and 3%, largely in line with the 3% uptick that StreetAccount analysts had expected. TJX is standing by its comparable sales guidance of 3% growth for the full year, just shy of the 3.2% growth that StreetAccount analysts had expected. It raised its pretax profit margin outlook from 11.2% to 11.3%, which matches StreetAccount's expectations, along with its earnings per share guidance.

Persons: TJX, Ernie Herrman, It's, LSEG, Maxx, TJ Maxx Organizations: TJX Companies, LSEG, Company, It's, HomeGoods, TJX, Brands, United Arab, Burlington, Ross, Bank of America Locations: HomeGoods, Sierra, TJX Canada, Europe, Australia, Dubai, United Arab Emirates, Saudi Arabia, Spain

Walmart’s CFO John David Rainey said the retailer would likely have to raise prices on some items if President-elect Donald Trump’s proposed tariffs take effect. “We never want to raise prices,” he said in an interview with CNBC on Tuesday. Beauty CEO Tarang Amin told CNBC in an interview earlier this month that the company could be forced to raise prices if the higher duties take effect. The majority of goods Walmart sells are not at risk of tariffs. The home improvement retailer addressed the potential levies as it reported earnings on Tuesday.

Persons: John David Rainey, Donald Trump’s, ”, “, ” Rainey, Wall, Matthew Shay, Tarang Amin, Steve Madden, Rainey, We’ve, Lowe’s, it’s, Brandon Sink, — CNBC’s Gabrielle Fonrouge Organizations: CNBC, National Retail Federation, Walmart Locations: China, U.S

☆ Walmart may have to raise some prices if Trump tariffs take effect, CFO says
▼ + stars: | 2024-11-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Walmart 's CFO, John David Rainey, said the retailer could have to raise prices on some items if President-elect Donald Trump's proposed tariffs take effect. "We never want to raise prices," he said in an interview with CNBC on Tuesday. Beauty CEO Tarang Amin told CNBC in an interview earlier this month that the company could be forced to raise prices if the higher duties take effect. The majority of goods Walmart sells are not at risk of tariffs. "Tariffs, though, are inflationary for customers, so we want to work with suppliers and with our own private brand assortment to try to bring down prices."

Persons: John David Rainey, Donald Trump's, Rainey, Lowe's, Walmart's, Brandon Sink, Marvin Ellison, it's, We're, We've, Matthew Shay, Tarang Amin, Steve Madden, Gabrielle Fonrouge Organizations: Walmart, Walmart Inc, CNBC, National Retail Federation Locations: Martinez , California, U.S, China

☆ Capri and Tapestry abandon plans to merge, citing regulatory hurdles
▼ + stars: | 2024-11-14 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Capri and Tapestry called off their merger on Thursday after the Federal Trade Commission successfully sued to block the megadeal. "With the termination of the merger agreement, we are now focusing on the future of Capri and our three iconic luxury houses," Capri CEO John Idol said in a statement. In April, the FTC sued to block the deal, saying the tie-up would disadvantage consumers and reduce benefits for the companies' employees. Tapestry plans to fund the stock repurchase through a combination of cash on hand and debt. Tapestry said it will reimburse Capri around $45 million.

Persons: John Idol, Kate Spade, Stuart Weitzman, Capri's Versace, Jimmy Choo, Michael Kors, Tapestry, Joanne Crevoiserat Organizations: Federal Trade Commission, FTC, Capri Locations: U.S

☆ Steve Madden to slash China sourcing by as much as 45% as Trump's tariff plan looms
▼ + stars: | 2024-11-07 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

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

Trump defeated Democratic candidate Vice President Kamala Harris, and Republicans claimed a majority of the Senate in elections this week. "We know kind of where the world is headed in a Trump environment because we've seen it before," said Jeffrey Solomon, president of TD Cowen, on CNBC's "Money Movers" Wednesday. One M&A advisor, who also spoke to CNBC anonymously, noted that Trump's disdain for Big Tech companies — historically active deal-makers — might keep them on the sidelines. Apparent GOP opposition to the CHIPS Act means that semiconductor consolidation might be challenging, the advisor noted, while cautioning it is still too early to know what a Trump presidency would mean. That advisor noted that smaller banks had been getting gobbled up for "some time," but that the pace and size of those acquisitions would likely ramp up under a Trump presidency.

Persons: Donald Trum, Ronda Churchill, Donald Trump, Kamala Harris, Jeffrey Solomon, TD Cowen, Solomon, Trump, Lina Khan, Khan, Howard Gutman, Jonathan Miller, —, Jared Holz, Mizuho, Sen, Elizabeth Warren, David Zaslav, David Grogan Organizations: Republican, Nevada GOP, Afp, Getty, Trump, Democratic, Republicans, Biden administration's Department of Justice, Federal Trade Commission, CNBC, Dow Jones, MorganFranklin Consulting, Big Tech, Qualcomm, Intel, Integrated Media, Pharmaceutical, Biotech, Illumina, FTC, Maze Therapeutics, Sanofi, Senate, DOJ, Allen & Company Sun Valley Conference Locations: Florida, Nevada, Las Vegas , Nevada, Ronda, Trump, Sun Valley , Idaho

☆ E.l.f. shares soar as cosmetics retailer raises guidance after posting 40% sales gain
▼ + stars: | 2024-11-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Beauty raised its full-year guidance on Wednesday after posting a 40% growth in sales. Sales rose to $301 million, up about 40% from $216 million a year earlier. raised its full-year revenue guidance from a previous range of $1.28 billion to $1.3 billion and also raised its adjusted earnings guidance. The retailer is expecting adjusted earnings to be between $3.47 to $3.53 per share, up from a prior outlook of between $3.36 and $3.41 per share. Analysts had been looking for earnings guidance of $3.51, according to LSEG.

Persons: we're, Tarang Amin, Amin, Donald Trump Organizations: LSEG, Gen Alpha, CNBC, Target, Walgreens Locations: U.S

Former President Donald Trump has won a decisive victory over Vice President Kamala Harris in the 2024 presidential election, winning the battleground state map by margins that surprised even Trump's closest allies. Trump promised to impose heavy tariffs on imported goods if he was elected, claiming that they will simultaneously boost U.S. revenues, strengthen domestic industries and deter unwanted foreign competition. Mainstream economists warn that the tariffs, which are taxes paid by U.S. importers, will raise prices on American consumers. "We're going to help our country heal," Trump said Tuesday "We're going to fix everything about our country." He said "America has given us an unprecedented and powerful mandate," which included his fellow Republicans regaining control of the U.S. Senate.

Persons: Donald Trump, Kamala Harris, Trump Organizations: U.S, U.S . Senate

For retailers and consumers finally feeling some relief from inflation, President-elect Donald Trump's tariffs proposal introduces fresh uncertainty around how prices could change during his presidency, analysts said Wednesday. Companies, retail trade groups and industry analysts have warned the move could fuel higher prices on a wide range of Americans' purchases such as sneakers and party supplies. "The adoption of across-the-board tariffs on consumer goods and other non-strategic imports amounts to a tax on American families," National Retail Federation CEO Matthew Shay said in a statement Wednesday. "Despite Trump's assertions to the contrary, tariffs are paid by the companies or entities importing goods and not by the countries themselves. Over time, supply chains would adjust to this change in tariff policy but it would be "incredibly disruptive" in the short term, said Saunders.

Persons: Donald, Trump, Matthew Shay, GlobalData, Neil Saunders, Saunders Organizations: NBC, China . Companies, Retail Federation Locations: China

☆ Retailers brace for DEI blowback in lead-up to election, holiday shopping season
▼ + stars: | 2024-11-04 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

A sign disparaging Bud Light beer is seen along a country road on April 21, 2023 in Arco, Idaho. Anheuser-Busch, the brewer of Bud Light has faced backlash after the company sponsored two Instagram posts from a transgender woman. Retailers are facing a tough equation as they head into the all-important holiday shopping season — this time over DEI initiatives. CNBC spoke with a number of retail industry insiders, strategists and staffers who spoke on the condition of anonymity to do so candidly. Last year, Anheuser-Busch -owned Bud Light and Target faced severe blowback for marketing campaigns and product collections geared toward the LGBTQ community and saw sales fall as a result.

Persons: Bud, Bud Light, Robby Starbuck, it's, Molson Coors Organizations: Anheuser, Busch, CNBC, Retailers, Supply, Ford, Molson, Pride, Human Rights, Google, Supreme, Bud Light, Target Locations: Arco , Idaho

☆ Peloton announces Ford exec, founder of Apple Fitness+ Peter Stern as its next CEO
▼ + stars: | 2024-10-31 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Peloton on Thursday said it has appointed Peter Stern, a Ford executive and the cofounder of Apple Fitness+ to be its next CEO and president. Stern, the president of Ford Integrated Services, primarily oversees the automotive company's subscription services, such as BlueCruise, Pro Intelligence, connectivity and security. Stern is slated to step down from his role at Ford and take the helm of Peloton on Jan. 1. Stern is the third CEO to lead Peloton in its history. "Peter is a seasoned strategist with a track record of driving sustainable growth through innovation, and we have every confidence in his ability to lead Peloton during this important time.

Persons: Peter Stern, Stern, Karen Boone, Chris Bruzzo, Boone, Bruzzo, Peter, Jay Hoag, Barry McCarthy, McCarthy, John Foley Organizations: Ford, Apple, Ford Integrated Services, Pro Intelligence, Interim, Spotify, Netflix

☆ Peloton raises its full-year profit guidance, but expects the holiday quarter to be softer than expected
▼ + stars: | 2024-10-31 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Despite the progress, Peloton is expecting to lose more members and sell fewer bikes and treadmills than Wall Street analysts had expected during its all-important holiday quarter. The company is expecting to have between 560,000 and 580,000 paid app subscribers by the end of its current quarter, compared with expectations of 608,200, according to StreetAccount. It's expecting adjusted EBITDA of between $20 million and $30 million during its current quarter, compared with StreetAccount EBITDA estimates of $13.9 million. For fiscal 2025, Peloton raised its full-year EBITDA guidance – a key metric that investors are watching to gauge the company's future value. It said it's now expecting to generate between $240 million and $290 million in adjusted EBITDA, compared with a previous range of $200 million and $250 million.

Persons: It's, Barry McCarthy, McCarthy, Peter Stern, it's Organizations: Sporting Goods, Wall Street, LSEG Locations: Daly City , California, North America

☆ This is why David Einhorn thinks Peloton could be worth five times what it is now
▼ + stars: | 2024-10-25 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

The first page of the deck was titled "15 minute 'Stock Pitch Ride'" and shows an image of Einhorn on a Peloton bike. Greenlight Capital's David Einhorn thinks Peloton could trade as high as $31.50 a share if the company slashes costs, which could double its current adjusted EBITDA projections, CNBC has learned. And Adidas has 8 times more sales than Peloton and an order of magnitude more product lines." In August, Peloton said it expects it can post adjusted EBITDA of between $200 million and $250 million in fiscal 2025. "The nice part of our thesis is that we don't have to convince Peloton this is the right approach," said Einhorn.

Persons: Einhorn, Einhorn pedaled, Greenlight Capital's David Einhorn, Bill Ackman, Robin Hood, Richard Buery —, Karen Boone Organizations: Robin Hood Investors Conference, Wednesday, CNBC, Spotify, Netflix, Adidas, Companies Locations: EBITDA

☆ Consumers choose their favorite retailers ahead of the holidays: Nike, Kohl's top the list
▼ + stars: | 2024-10-24 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

In this article KSSNKE Follow your favorite stocks CREATE FREE ACCOUNTAn exterior view of the Kohl's store at the Paxton Town Centre near Harrisburg. 1 active footwear retailer among all four generational cohorts polled for the survey: Gen Z, millennials, Gen X and boomers. 1 department store choice among Gen Z and boomers, while millennials chose Nordstrom and Gen X chose Macy's . "We would see in the data what's important to the Nike consumer. The majority of consumers surveyed, or 66% of respondents, said they'll shop at a different retailer if the product they're looking for isn't in stock.

Persons: Paul Weaver, Emily Elconin, AlixPartners, Z, Gen X, Gen Z, Kohl's, millennials, Nordstrom, Elliott Hill, Sonia Lapinsky, it's Organizations: Nike, Bloomberg, Getty, Adidas, CNBC Locations: Paxton, Harrisburg, Kohl's

☆ CNBC Sport: Adam Silver speaks exclusively, and TKO makes a big bet
▼ + stars: | 2024-10-24 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +21 min

The latter two are new partners (new-ish, at least – NBC is back after losing NBA rights in 2002 ). Warner Bros. Warner Bros. On the record With NBA Commissioner Adam Silver... Silver spoke to me about a lot of issues. Warner Bros.

Persons: Alex Sherman, Adam Silver, Mark Shapiro, we're, Silver, Max, David Zaslav, Luis Silberwasser, Zaslav, Silberwasser, Charles Barkley, Kenny Smith, Shaquille O'Neal, Ernie Johnson, divisiveness, we've, We're, David Stern, Chris Paul, CNBC's Jessica Golden, Gabrielle Fonrouge, Luis Suárez, Lionel Messi, CNBC's Lillian Rizzo, You've, Hurricane Milton, CNBC's Contessa Brewer, Jessica Golden, SeatGeek, Joe Biden Biden, Caitlin Clark, Goldin, LeBron James, Bronny James, Greg Rosenstein, Ari Emanuel, Brendan Mcdermid, Comcast's Organizations: CNBC, WWE, UFC, Endeavor Group, Endeavor, Professional Bull Riders, IMG, Ryder, FIFA, NFL, English Premier League, National Hockey League, Major League Soccer, PBR, NBA, Warner Bros, Disney, Comcast, NBC, Discovery, Big Tech, TNT Sports, Amazon, TNT, Turner Sports, Discovery Communications, Warner Brothers Discovery, Inside, Sony, Los Angeles Lakers, CNBC Sport, Nike, WNBA, MLS, New York Yankees, Los Angeles Dodgers, Twitter, New York Liberty, Indiana, Basketball Players, CBA, Hockey League, NHL, Lululemon, New York Stock Exchange, Reuters Locations: U.S, Hurricane, Tampa , Florida, underwhelmed, New York City

☆ Judge blocks Coach owner Tapestry's proposed acquisition of Michael Kors parent Capri
▼ + stars: | 2024-10-24 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

A federal judge blocked Tapestry's acquisition of Capri on Thursday following a brief trial last month in New York. Representatives for Tapestry and Capri didn't immediately return requests for comment. The decision will ensure that Tapestry and Capri continue to engage in head-to-head competition to the benefit of the American public." The decision comes as consumers balk at high prices for food, apparel and other goods after years of elevated inflation. Lawyers for Tapestry and Capri argued the companies are not each other's main competitors.

Persons: Jennifer Rochon, Kate Spade, Stuart Weitzman, Capri's Versace, Jimmy Choo, Michael Kors, Capri's, didn't, Henry Liu, Biden, Kamala Harris, Lina Khan, Capri, —, Melissa Repko Organizations: Federal, Tapestry, Federal Trade Commission, FTC, Competition, Democratic Locations: Capri, New York, FTC's

☆ Abercrombie & Fitch responds to former CEO's sex trafficking arrest, says it will cooperate with law enforcement
▼ + stars: | 2024-10-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Former Abercrombie & Fitch Chairman and CEO Mike Jeffries addresses stockholders during the company's annual meeting at its headquarters in New Albany, Ohio, on May 22, 2003. Abercrombie & Fitch washed its hands of its former CEO Mike Jeffries after he was arrested on federal sex trafficking charges, saying in a Wednesday statement the company is "committed to fully cooperating with law enforcement as the legal process continues." Jeffries and Smith are accused of coercing aspiring Abercrombie models into sex acts in exchange for modeling gigs, among other acts. In its statement, Abercrombie said it supports the victims who have come forward. "Our thoughts remain with those who have bravely raised their voices as part of the federal investigation."

Persons: Mike Jeffries, Fitch, Jeffries, Abercrombie, Jeffries —, Matthew Smith, Smith, Brian Bieber, Bieber, Fran Horowitz Organizations: Abercrombie, Fitch, Abercrombie & Fitch Co, CNBC, BBC, NBC Locations: New Albany , Ohio

David Einhorn speaking at the 2024 Sohn Conference in New York City on April 3, 2024. Shares of Peloton spiked more than 11% on Wednesday after Greenlight Capital's David Einhorn said shares of the company are significantly undervalued, CNBC has learned. It was not immediately clear what Einhorn believed Peloton shares should trade at. He made the case for the company as he was riding a Peloton bike, a person familiar with his remarks said. Peloton did not immediately respond to CNBC's request for comment.

Persons: David Einhorn, Greenlight Capital's David Einhorn, Einhorn, Barry McCarthy Organizations: CNBC, Robin Hood Investors, Greenlight, Costco Locations: New York City

Under the terms of the deal, Costco will offer Peloton's Bike+ in 300 of its U.S. stores for $1,999, and on Costco.com for $2,199 between Nov. 1 and Feb. 15. Costco is one way to get there, Dion Camp Sanders, Peloton's chief emerging business officer, told CNBC in an interview. The deal with Costco gets Peloton onto the shelves of a retailer with a strong fan following and wealthier customers. According to Numerator, 36% of Costco's customers have a household income of more than $125,000. As of this month, hotel members can earn points for completing workouts on the Peloton Bike and Row during their stay.

Persons: Barry McCarthy, Long, Dion Camp Sanders, Peloton's, We've, Camp Sanders, Gary Millerchip, Costco's, they've, Merchandising Claudine Adamo, Truemed Organizations: Costco, CNBC, Merchandising, Dick's Sporting Goods, PayPal Locations: U.S

In this article ANF Follow your favorite stocks CREATE FREE ACCOUNTFile: Mike Jeffries, then Abercrombie & Fitch CEO in 2005. Michael Loccisano | FilmMagic | Getty ImagesFormer Abercrombie & Fitch CEO Mike Jeffries and two other men were arrested and charged with 16 counts of sex trafficking and interstate prostitution by federal prosecutors in New York, case documents made public Tuesday showed. All three men face one count of sex trafficking and 15 counts of interstate prostitution related to alleged misconduct that spanned from December 2008 to March 2015. The indictment in U.S. District Court in Long Island alleges that the defendants and others "operated an international sex trafficking and prostitution business" during that time. Shares of Abercrombie & Fitch are up nearly 80% so far this year, after outperforming tech stars like Nvidia and Meta in 2023.

Persons: Mike Jeffries, Michael Loccisano, Jeffries, Matthew Smith, James Jacobson, Smith, Abercrombie, Fran Horowitz, Fitch, Hannes Magerstaedt, Jacobson, Brian Bieber, Michael Jeffries, presser, Richard Levine Organizations: Abercrombie, Fitch, FilmMagic, Getty, Former Abercrombie, CNBC, Nvidia, Meta, of, NBC News, BBC, Herald, Corbis Locations: New York, West Palm Beach , Florida, Brooklyn, U.S, Long, Manhattan, Munich, Germany, West Palm Beach, Madison , Wisconsin, Eastern, of New York

The NBA logo is seen outside an NBA store in New York on July 8, 2024. Under the terms of the deal, Nike will be the leagues' global outfitting, merchandising, marketing and content partner until 2037. As the largest athletic apparel company in the world, Nike has long been a favorite among professional sports leagues and their athletes. Despite Nike's recent stumbles, the NBA told CNBC it has no concerns about continuing its partnership with the apparel company. Nike has not faced significant criticism for its basketball uniforms.

Persons: Elliott Hill, Sal LaRocca, They've, LaRocca, you'll, LeBron James, Kevin Durant, Caitlin Clark, Sabrina Ionescu Organizations: NBA, Nike, National Basketball Association, National Football League, Major League Baseball, CNBC, MLB, ESPN, WNBA Locations: New York

☆ CNBC Sport: A responsible look at women's sports exuberance
▼ + stars: | 2024-10-03 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +28 min

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 ,

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