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Georgetown University in Washington, D.C. Not everyone with debt would have been covered under the Biden administration’s student loan forgiveness plan. The Supreme Court has barred the Biden administration from carrying out its plan to extinguish up to $20,000 in federal student loan debt, and millions of borrowers will continue to struggle under the weight of their loans. Ms. Schmidt owes $64,000 in student debt, more than half of which is for her graduate work in nursing. But she’s already contemplating how she’ll finance her dream of becoming a civil rights lawyer, which typically requires an additional six figures in student debt. Yet her mother is still paying down student debt of her own.

Persons: Biden, Gina McDavitt, weren’t, Pell, “, ”, McDavitt, ” Ms, Ms, Monica Schmidt, Schmidt, Kevin Serna, Dorien Rogers, Rogers, Asha Anthony, she’s, —, Anthony, Mr, don’t, Joanna Leiserson, Brian Kaiser, “ I’m, Leiserson Organizations: Georgetown University, Biden, College of San, San Francisco State University, The New York Times, University of Phoenix, Northern Illinois University, Public, Schaun, Tax, Howard University, Salisbury University, The New York, Republicans Locations: Washington ,, College of San Mateo, Bay, Vallejo , Calif, Genoa, Ill, Germantown, Md, Credit, Montgomery County, Mesa, Maryland, Spokane, —, forbearance

☆ This map shows where Bed Bath & Beyond stores are being replaced by other retailers
▼ + stars: | 2023-06-29 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

"In aggregate the Bed Bath & Beyond locations were some of the best that I've seen become available. The leases are for both Bed Bath & Beyond and Buy Buy Baby locations. Leases for the Buy Buy Baby outposts could be clawed back depending on what happens at an auction for the chain's assets, Bed Bath said in a court filing. Bed Bath raked in $24.41 million in all from the lease auction. A portion of those proceeds will likely go to unpaid rents at the locations and the rest will go to Bed Bath to pay the retailer's many creditors.

Persons: BURL, Bill Read, Read, Macy's, Noble, they'd, weren't Organizations: Burlington Stores, Burlington, Specialists, Target, CNBC, Factory, Barnes, Bed Locations: Burlington, America, , Florida, Concord , North Carolina, Bed Bath, Bath

For its full fiscal year, Nike's revenue was $51.2 billion, up 10% compared to the prior year. Nike's gross margins fell 1.4 percentage points during the fourth quarter to 43.6%, contributing to the earnings miss. For the last several quarters, Nike has grappled with bloated inventory levels, which have also weighed on its margins. But quarter over quarter, Nike offloaded about $400 million in inventories. Nike has been relying on its wholesale partners to reduce inventory levels.

Persons: Refinitiv, Friend, Matthew Friend, Neil Saunders, Saunders, we're, Macy's, Macy's hasn't, John Donahoe, Donahoe Organizations: Nike, Refinitiv, Nike's Locations: China

☆ How to create an influencer media kit to pitch brands
▼ + stars: | 2023-06-28 | by ( Amanda Perelli | Nathan Mcalone | ) www.businessinsider.com time to read: +4 min

Read the simple one-page media kit nano influencer Tess Barclay uses to get deals with brands like Princess Polly and Ana LuisaBut influencer media kits can also be longer. Entrepreneur and YouTuber Marina Mogilko runs three successful YouTube channels and uses a media kit to pitch her business to brands. Read the the exact 24-page media kit a YouTuber with millions of subscribers uses when she reaches out to brandsMogilko uses a 24-page media kit. Marina MogilkoYouTuber media kit examplesRoberto Blake Roberto BlakeInstagram influencer media kit examplesAlexa Collins Alexa Collins. TikToker media kit examples:

Persons: Macy Mariano, It's, Influencers, Tess Barclay, Princess Polly, Ana Luisa, Jour'dan Haynes, Garnier, Burger King, Read Haynes, YouTuber Marina Mogilko, Marina Mogilko, Roberto Blake Roberto Blake Instagram, Collins Alexa Collins Organizations: Media, YouTube, Brands Locations: Toronto

☆ Shopping platform Shein poised to take major U.S. market share. UBS thinks these companies will be hurt most
▼ + stars: | 2023-06-26 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Some big-name U.S. retailers could struggle as Chinese e-commerce company Shein gains ground in the country, UBS warned. "We believe SHEIN's momentum to continue, and the company could take major market share from US Softlines companies. Elsewhere, UBS data showed Shein was the second most-downloaded shopping app in the U.S. over the past month behind Temu.com. Nearly a quarter of those Shein shoppers said sales are not important to them, which is higher than average. Of typical clothing retailers, shoppers of Shein in the last three months were most likely to also shop at TJX Companies ' TJ Maxx during that period.

Persons: Jay Sole, Shein, Sole, Temu, TJ Maxx, Ross, There's, Nordstrom, — CNBC's Michael Bloom Organizations: UBS, Wall, Companies, Inc, Navy, Amazon, Walmart, Target Locations: U.S, Shein, American

☆ Jim Cramer's guide to investing: Don't be greedy
▼ + stars: | 2023-06-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +3 min

As Cramer has said for years: Bulls make money, bears make money, but pigs get slaughtered. When Cramer first bought Amazon stock, he sold it off after a great run, even as the stock kept reaching new heights. Another part of keeping your inner pig at bay when it comes to investing is always paying taxes, according to Cramer. If you don't want to share your profits with the IRS, you may end up with none at all, he said. Shortly after the presentation, the shopping mall was obliterated by competition from Amazon, and Macy's stock fell by half.

Persons: CNBC's Jim Cramer, Cramer, he's, I'd, Uncle Sam, haven't Organizations: Bulls, Amazon Locations: Macy's

☆ These stocks with 'multiyear growth' prospects are about to catch fire, Wall Street analysts say
▼ + stars: | 2023-06-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

CNBC Pro combed through top research to find stocks best positioned for multiyear growth. "A multi-year growth story & we're just getting started," the analyst said. "If that's the case, we see the firm's current valuation as at least sustainable, if not with bias to the upside as conviction builds in the multiyear growth story," he wrote. Entegris — BMO Capital Markets, outperform rating "A Multi-Year Growth Story & We're Just Getting Started. If that's the case, we see the firm's current valuation as at least sustainable, if not with bias to the upside as conviction builds in the multiyear growth story."

Persons: Bhavesh Lodaya, Lodaya, David Hynes Jr, Hynes, Matthew Smith, Smith, Westrock, Macy's —, — Morgan Stanley, Bloom, Conway, Sprout Organizations: CNBC, Bloom Energy, Entegris BMO Capital Markets, Sprout, Westrock, Macy's — JPMorgan, BMO Capital Markets Locations: Rock , Arkansas

☆ Wife of submersible pilot descendant of famous Titanic couple
▼ + stars: | 2023-06-22 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Wendy Rush, the wife the executive who piloted the submersible that has been the subject of a desperate search after it went missing during a dive to the Titanic wreckage, has a personal connection to the ship. The couple were fictionalized by Lew Palter as Isidor and Elsa Raven as Ida in the Oscar-winning 1997 film “Titanic,” directed by James Cameron. Wendy Rush, born Wendy Hollings Weil, is the great granddaughter of the couple’s daughter, Minnie Straus Weil. Isidor Straus was a co-owner of Macy’s and the story of how they perished captured the attention of those interested in the story of the Titanic. “On the night of 14 April, after Titanic had hit the iceberg, Isidor and Ida were directed to lifeboat eight.

Persons: Wendy Rush, Isidor Straus, Ida, Lew Palter, Isidor, Elsa Raven, ”, James Cameron, Wendy Hollings Weil, Minnie Straus Weil, Rush, acccording, Stockton Rush, “ Ida, Ellen, ” Isidor Straus’s, Ida’s Organizations: CNN, New York Times, Paramount Pictures, National Archives, Titanic, UK National Archives Locations: United States, Germany, New, Woodlawn

☆ 5 wild conspiracy theories surrounding the sinking of the Titanic
▼ + stars: | 2023-06-21 | by ( Áine Cain | Will Gendron | ) www.businessinsider.com time to read: +2 min

JP Morgan was behind the whole thingA portrait of JP Morgan circa 1900. Photo by Museum of the City of New York/Getty ImagesThis rumor has everything you could want in a conspiracy theory. The Federal Reserve Bank. There's a theory out there that JP Morgan sank the Titanic in order to pave the way for the establishment of the Federal Reserve Bank in the US. Morgan was reportedly supposed to be on the ship, but decided to skip the maiden voyage at the last second.

Persons: Morgan, JP Morgan, John Jacob Astor, Benjamin Guggenheim, Macy's, Isidor Straus, Astor, We've, Straus, Ida, Layton, Morgan could've Organizations: Museum of, Federal Reserve Bank, Titanic, White Star, Pittsburgh Post, Gazette, US Federal Locations: City of New York, Europe

☆ Wildfire Smoke Has Made Me Homesick for the Sky - The New York Times
▼ + stars: | 2023-06-20 | by ( Paul Bogard | ) www.nytimes.com time to read: +2 min

Already many of us are experiencing something previously unimaginable: We are homesick for the sky. What’s happening there mirrors what’s happening in the Western United States, where the average annual number of wildfires has more than tripled since 1970. Some 37 percent of the cumulative areas burned by forest fires in the Western United States and southwestern Canada between 1986 and 2021 have been influenced by human-caused climate change. Officials call this unprecedented, and in the Northwest Territories alone, fires have already burned more than 60 times the average for a year. It seems certain that air quality concerns will continue as more fires than normal are expected throughout the year, promising more smoke across Canada and the United States in the months to come.

Persons: Glenn Albrecht, Joanna Macy Organizations: Canada, Western Locations: Australian, Canada, Minnesota, Western United States, Northwest Territories, United States

☆ Online brands and companies like Nike are going old-school and returning to brick-and-mortar department stores
▼ + stars: | 2023-06-19 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Online brands like Warby Parker and Allbirds are also opening brick and mortar shops. Brands that have moved away from department stores and physical shops in recent years are now pivoting back to traditional retail tactics after experiencing first-hand the difficulty of acquiring and retaining customers directly online. And they're not alone: even digital-first brands like Warby Parker and Allbirds have also opened new physical storefronts. A recent study by UBS predicted that retail stores would continue to close over the next five years and estimated that 50,000 shops would disappear by 2028. Nike has also recently announced that it's expanding partnerships with other physical retailers like Designer Brands and Foot Locker after years of steadily cutting its wholesale relationships.

Persons: it's, Warby Parker, Allbirds, —, they're, Simeon Siegel, Noble, Locker Organizations: Nike, Service, Brands, Journal ., Interim, Getty, BMO Capital Markets, International Council of Shopping Centers, Ross Stores, Barnes, Body Works, Walmart, UBS Locations: Macy's, Burlington

☆ Stitch Fix Taps Former Macy’s, Walmart Exec as CEO
▼ + stars: | 2023-06-14 | by ( Robb M. Stewart | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/stitch-fix-taps-former-macys-walmart-exec-as-ceo-11ed0c29

Persons: Dow Jones, 11ed0c29 Organizations: walmart

☆ Westfield Gives Up San Francisco Mall, Signaling More Pain Ahead
▼ + stars: | 2023-06-14 | by ( Jordyn Holman | Thomas Fuller | ) www.nytimes.com time to read: +2 min

In San Francisco, Nordstrom said it would close its longtime store at San Francisco Centre in August, which will leave the mall 45 percent empty. Westfield isn’t the first mall owner to decide to leave a longtime downtown shopping center. Last year, Brookfield Property Partners relinquished Chicago’s Water Tower Place, the mall that anchors the Magnificent Mile, an upscale commercial district. More than half of the space in Water Tower Place is vacant, including an anchor store location that was a Macy until 2021, according to Cushman & Wakefield. Indeed, Westfield’s decision in San Francisco is part of a broader strategy by its parent company, Unibail-Rodamco-Westfield, to greatly reduce the number of malls it operates in the country.

Persons: Yasukochi, ” Banks, ” Mr, Nordstrom, Neiman Marcus, REI, Macerich Organizations: San Francisco Centre, Hudson, Nike, Brookfield Property Partners, Macy, Cushman & Locations: San Francisco, New York, Manhattan —, Seattle, Portland, downtowns, Westfield, Cushman & Wakefield, United States

☆ Abandoned stores are coming back to life as pickleball courts, thanks to startups ready to cash in on the trend
▼ + stars: | 2023-06-12 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

Pickleball courts are taking over old big-box stores and mall anchor tenants. This Richmond Macy's, which is located inside Regency Square Mall, is just one of dozens of malls, former department stores, and former big-box stores across the country being turned into pickleball facilities. Laaser said former anchor tenants like Macy's are perfect for pickleball, since they're "basically just big boxes" sitting empty inside declining malls. There's a 'gold rush' on indoor pickleball courtsAn indoor pickleball facility operated by The Picklr inside an old Staples store. It's led to an explosion in companies that make pickleball equipment and, more recently, dedicated pickleball facilities.

Persons: —, Jon Laaser, Richmond, Laaser, pickleball, It's, Steve Kuhn, Major League Pickleball, Pickleball, Kuhn, Jorge Barragan, Barragan, There's, liquidators, it's, we've Organizations: Service, Staples, Sports & Fitness Industry Association, Major League, Party City Locations: Richmond , Virginia, Regency, Richmond, pickleball, Arizona Mills, Tempe , Arizona, Utah, Colorado

☆ Nike is mending relationships with retailers as more brands recognize the constraints of direct-to-consumer models
▼ + stars: | 2023-06-11 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

Nike is striking new deals with retailers as brands realize the DTC model isn't all it's cracked up to be. Designer Brands, Macy's, and Foot Locker have each announced expanded relationships with Nike. But, more recently, Nike has expanded partnerships with retailers, including Macy's and DSW owner Designer Brands, the Wall Street Journal reported. In a May presentation, Daniel Heaf, vice president of Nike Direct, said, "People always ask me: Are you a direct business or a wholesale business? Nike's wholesale business grew faster than its direct business between September and November, showing it's still key to the overall business.

Persons: Locker, —, Brands, Macy's, Matt Friend, Daniel Heaf, it's, Simeon Siegel, Siegel Organizations: Nike, Brands, Service, Wall Street Journal, Adidas, BMO Capital Markets, DTC

☆ Walgreens unveils Chicago store with only two aisles and most products kept out of sight
▼ + stars: | 2023-06-09 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

New York CNN —Walgreens just opened a redesigned store in a downtown Chicago neighborhood where most of the merchandise is intentionally kept out of sight. It’s not designed to deter theft, Walgreens says. The new Walgreens store now has only two aisles for shoppers to peruse for their everyday needs, such as over-the-counter medication, bath and body care supplies, batteries, Band-aids, and grab-and-go snacks. Those hidden products – including color cosmetics, beer, wine and spirits, hair color products and gift cards – can only be accessed for purchase through a kiosk system, also set up in the store. Illinois governor J.B. Pritzker signed a bill that went into effect Jan. 1 that’s designed to crack down on retail crime by raising penalties on retail theft statewide.

Persons: Walgreens, Robb Karr, J.B, Pritzker, ”, Karr, “, John Hassard, Robson, Hassard, Lululemon, “ We’re Organizations: New, New York CNN, Walgreens, Roosevelt, What’s, CNN, Walmart, Target, Illinois Retail Merchants Association, Walgreens ., Robson Forensic, National Retail Federation Locations: New York, Chicago, America, Walgreens . Illinois, Atlanta, harm’s, San Francisco

☆ Retailers battle for uncertain back-to-school demand after ‘volatile’ quarter
▼ + stars: | 2023-06-06 | by ( Katherine Masters | ) www.reuters.com time to read: +5 min

[1/2] Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. U.S. shoppers' spending in the summer ahead of the college and K-12 school year has grown steadily since 2015, according to the National Retail Federation, a trade group. The chain is stocking Adidas' Samba and Gazelle sneakers ahead of the new school year, it said. The challenge for retailers is predicting whether parents will buy less clothing and sneakers when the cost of necessities - such as pencils, notebooks and laptops - strains many households. Retailers face a "volatile time," said Jessica Ramirez, a senior research analyst at Jane Hali & Associates.

Persons: Dado Ruvic, Locker, Spencer, hasn't, Ralph Lauren, Nordstrom, Doug McMillon, John David Rainey, Jessica Ramirez, Jane Hali, Moody’s, Moody's, Maxx, Martin Waters, Fran Horowitz, Jennifer Foyle, Abercrombie’s Hollister, URBN, Katherine Masters, Siddharth Cavale, James Davey, Gerry Doyle Organizations: Walmart, REUTERS, National Retail Federation, Ulta, Adidas, U.S . Commerce Department, Associates, Target, Moody's Victoria’s, Abercrombie & Fitch, Urban Outfitters, Abercrombie, Fitch, Free People, Thomson Locations: Britain, U.S, North America, New York, Bentonville , Arkansas, London

☆ People are spending more on groceries. But they’re buying less
▼ + stars: | 2023-06-06 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

New York CNN —The past few months of robust grocery store sales would suggest that shoppers aren’t stretched for cash. Fresh eggs shot up 48.2%, milk rose 5%, bread rose 12.7% and fresh root vegetables went up 14.7. The following month, grocery prices continued to fall. But food inflation is still outpacing inflation overall, and grocery prices are still quite a bit higher than they were last year. We are still seeing prices, month over month, they’re still going up — although much less than they were.”— CNN’s Nathaniel Meyersohn contributed to this report.

Persons: that’s, ”, Alastair Steel, Spencer Platt, they’ve, Steel, “ we’ve, Richard Galanti, Jeff Gennette, “, Brandon Bell, Jeff Owen, Ramon Laguarta, it’s, they’re, —, Nathaniel Meyersohn Organizations: New, New York CNN, Kellogg, PepsiCo, Getty, Steel, Costco, Aldi, ”, Dollar, Assistance, SNAP, Consumers, Bureau of Labor Statistics, BLS Locations: New York

☆ The case for a 2023 US recession is crumbling
▼ + stars: | 2023-06-05 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —Many CEOs, investors and economists had penciled in 2023 as the year when a recession would hit the American economy. But the case for a 2023 US recession is crumbling for a simple reason: America’s jobs market is way too strong. Zandi is growing more confident that 2023 won’t be the year when a downturn will begin. “We’re running out of time for a 2023 recession,” Justin Wolfers, an economics professor at the University of Michigan, told CNN. Friday’s jobs report did offer some conflicting signals, especially in the household survey, which economists put less weight on because it tends to be noisier.

Persons: Mark Zandi, won’t, ” Zandi, “, Justin Wolfers, “ We’ve, payrolls, Wolfers, They’ve, ” Wolfers, ” Macy’s, Zandi, Joe Brusuelas, Morgan Stanley Organizations: New, New York CNN, Federal Reserve, Moody’s, CNN, University of Michigan, Bureau of Labor Statistics, Bank of America, Challenger, RSM Locations: New York, ”

☆ Cramer: This is my game plan for the week ahead after Friday's surprise rally
▼ + stars: | 2023-06-04 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

It was the compromise debt limit deal — not the employment number — that caused the market to rally. The shorts were correct to press their bets if there was no debt deal and we got an employment number that was a steamer. A short squeeze happens when short sellers having to buy stocks to cover their short positions, pushing prices higher. I say no, no more than you needed in 2011, when the debt ceiling deal led to a fantastic rally because Armageddon was avoided. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Dow, Kevin McCarthy couldn't, Charles Schumer wasn't, Joe Biden lamely, McCarthy, Biden, Ronald Reagan, Tip O'Neil, Chris Matthews, Jerome Powell, Jim Umpleby, Sanford Bernstein, FANG, it's, Locker, Estee Lauder, Fabrizio Freda, Mary Dillon, Emerson, hasn't, Jeff Marks, LULU, Powell, battlegrounds, Johnson, Jim Cramer's, Jim Cramer, Jim, Joe Biden, Kevin McCarthy, Patrick's, Saul Loeb Organizations: Republican, Assistance, Microsoft, Apple, Nvidia, Caterpillar, Fed, Emerson Electric, Devices, GE Healthcare, Jim Cramer's Charitable, CNBC, US, AFP, Getty Locations: United States, China, California, St, Washington ,

☆ With these many jobs, do we no longer have to worry about a recession?
▼ + stars: | 2023-06-03 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

But for every recession alarm bell, the continued strength in the labor market seems to be an answer to those worries. “I think even in a recession environment, we’re going to have a relatively strong job market. “It’s still possible that the case of avoiding a recession is, in my view, more likely than that of having a recession. Jobs market still hot, but coolingThat’s not to say that the jobs market hasn’t slowed down. Powell said he’s not particularly worried about the cooling of the labor market over the last year.

Persons: That’s, ”, Jamie Cox, they’re, Mark Zandi, “, I’ve, we’ve, Dave Gilbertson, Jerome Powell, “ We’ve, ” Powell, It’s, Julia Pollock, Powell, he’s, —, ZipRecruiter’s Pollock, – CNN’s Bryan Mena Organizations: New, New York CNN, Labor Department, Costco, Federal Reserve, Harris Financial Group, Moody’s Analytics, Target, Labor Locations: New York

☆ Lululemon shares surge as consumers snap up pricier athletic wear
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

Lululemon's first-quarter results also moved past estimates as the company saw traffic across both its stores and online up about 30%. The company also reported a 79% rise in sales in China, bolstered by the rollback of COVID restrictions. The company's strong results also lifted shares of other athletic wear makers including Nike Inc (NKE.N) and Athleta owner Gap Inc (GPS.N) by 3% and 1%, respectively, in premarket trading. "We continue to believe that Lululemon is best positioned in a consumer slowing cycle," said Adrienne Yih, analyst at Barclays. Reporting by Savyata Mishra and Aishwarya Venugopal in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Piper Sandler, Abbie Zvejnieks, Lululemon's, Cowen, Adrienne Yih, Savyata Mishra, Aishwarya Venugopal, Krishna Chandra Organizations: Barclays, Nike Inc, Gap Inc, Adidas, Puma, Thomson Locations: China, U.S, Bengaluru

☆ Premarket stocks: The uber-wealthy are doing just fine and Wall Street is cashing in
▼ + stars: | 2023-06-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But that’s not the case for everyone: The ultra-wealthy are doing just fine, and Wall Street firms are taking advantage of that. Germany, the largest economy in Europe, has slipped into recession as energy price shocks took their toll on consumer spending. In the past 10 weeks, JPMorgan Global Wealth Management opened 40,000 new accounts. Last year, it added around one new client with assets of $100 million or more per day, Mary Erdoes, head of asset and wealth management at the bank, told investors last week. Dollar General customers turn to food banksDollar General (DG) stock had one of its worst days ever on Thursday.

Persons: New York CNN —, that’s, JPMorgan Chase, Andy Cohen, Mary Erdoes, It’s, Goldman Sachs, Louis Vuitton, Dom Pérignon, Dior, Huw Roberts, Hermes —, Roberts, ”, Erwan, “, Gregory Daco, Allison Morrow, Jeff Owen, Owen, Cash, They’re, Elisabeth Buchwald, Treasury hasn’t, Biden Organizations: CNN Business, Bell, New York CNN, Wall, JPMorgan, Bloomberg, JPMorgan Global Wealth Management, Citigroup, International Monetary Fund, Lamborghini, HSBC, EY, Dollar, Treasury, US Treasury Locations: New York, China, United States, Germany, Europe, BlackRock

☆ Target's stock isn't down because of Pride Month merch
▼ + stars: | 2023-06-02 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

New York CNN —If you follow right-wing media or Twitter, you may have seen a lot of coverage recently about Target’s stock price falling. Fox News aired more than 2 hours of coverage on Target’s Pride Month displays from May 23 to May 30, according to Media Matters, a liberal media monitoring group. Target faced a homophobic campaign that went viral on social media over its annual Pride Month clothing collection. But Target’s stock drop has nothing to do with its Pride Month clothing collection or the anti-LGBTQ campaign. JP Morgan, which downgraded Target’s stock Thursday, said in a report that “we continue to believe that the consumer is broadly weakening while the share of wallet shift away from goods is ongoing.” JP Morgan did not include a word about consumer backlash to Target’s Pride Month collection.

Persons: Matt Walsh, it’s, Locker, Berna Barshay, It’s, JP Morgan, ” JP Morgan, ” Organizations: New, New York CNN, Fox News, Target’s, Media, Target, Pride, Walmart, Shoppers Locations: New York, Thursday’s

☆ We just got 2 alarming signals that an economic slowdown is upon us
▼ + stars: | 2023-06-02 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +4 min

Dollar General cut its profit estimate for 2023 on Thursday. The first of two jarring pieces of evidence comes in the form of first-quarter earnings from Dollar General. The fact that they're not immune to a broader pullback in consumer spending is a big red flag for the US economy. Speaking of which, a bit further up the affluence scale, Macy's turned in an earnings stinker of its own. The department-store giant offered disappointing second-quarter projections and — like Dollar General — slashed full-year projections.

Persons: It's, Macy's, —, Jeffery Owen, Kelly Dilts, it's, Jeff Gennette, Paul Tudor Jones, Larry Summers —, Target Organizations: Service, Dollar, Federal Reserve, Walmart, Target Locations: Wall, American

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