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☆ 3D-weaving tech that uses body-scan data from shoppers could mean a better fit, fewer returns, and a zero-waste future for fashion
▼ + stars: | 2023-10-12 | by ( Jake Hall | ) www.businessinsider.com time to read: +10 min

But 3D manufacturing, including printing and weaving, is helping create a zero-waste future. AdvertisementAdvertisementIn the late 1990s, the designer Issey Miyake unleashed his game-changing A-POC project, an early attempt at zero-waste fashion. Existing innovations are being fine-tuned daily, and creators are dreaming up ways to turn zero-waste fashion from a utopian dream into a reality. Despite these restrictions, Pasricha's designs were proof that zero-waste 3D printing was possible, especially with small designs such as buttons and jewelry. AdvertisementAdvertisementThe tech isn't there yet to ensure a zero-waste fashion industry, for various reasons.

Persons: —, Issey Miyake, Kevin Martin, Ashley Batz, Unspun, Martin, you'll, Catherine University's, Pasricha, Iris van Herpen, Martin lauds, Vega Organizations: Service, Oakland microfactory, Rhino Locations: California, Lam, — St

☆ For U.S. investors seeking an edge in European soccer, the cheaper the better
▼ + stars: | 2023-10-08 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

This comes as deep-pocketed investors — from top U.S. private equity and venture capital firms to global rivals like sovereign wealth funds — have intensified competition. Meanwhile, more than one-third of the clubs in the so-called "Big Five" leagues in Europe are backed by U.S. investors, including private equity and venture capital firms. "These recent transactions have set a precedent in terms of club valuation but also prompted many owners to consider selling to [private equity]," according to an analyst report from PitchBook. Some firms, like Sixth Street Partners, have found different outlets into taking a stake in European soccer, particularly in Spain's LaLiga. The shift is happening as soccer clubs have been looking for fresh capital following the distress stemming from the earlier days of the Covid pandemic.

Persons: Liverpool's Curtis Jones, Charles Baker, PitchBook, Todd Boehly, English Premier League's, Elliott Management's, Lionel Messi Organizations: Premier League, King Power, U.S, Manchester United, Chelsea FC, Newcastle, Clearlake Capital, English Premier, English Premier League's Chelsea, Redbird Capital Partners, Italy's AC Milan, Sixth Street Partners, FC Barcelona, Fenway Sports Group, Liverpool FC, Dynasty Equity, English Premier League, Sheffield United Locations: Leicester, European, U.S, Europe, PitchBook, LaLiga, Spanish, Real Madrid's

☆ 3 ways to use AI right now to get ahead—if you do, you're 'really going to succeed,' says expert
▼ + stars: | 2023-09-25 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

If you're only using artificial intelligence to edit selfies or find dinner recipes, you aren't getting the most out of it. These tools can help you get ahead in your career, according to Sarah Hoffman, VP of AI and machine learning research at Fidelity Investments. She's a particular fan of using ChatGPT, OpenAI's popular generative AI chatbot, in a professional context. In this context, the tool's mistakes and fabrications don't really matter — you're only using it for inspiration. You're establishing a jumping-off point for orienting your brain in the right direction, said Hoffman.

Persons: Sarah Doody, Sarah Hoffman, Hoffman, isn't, ChatGPT Organizations: Fidelity Investments, Fast, Purdue University

☆ 'Relentless pursuit of eyeballs': Analysts name China internet stocks to buy, give 2 over 50% upside
▼ + stars: | 2023-09-21 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Several stocks are set to benefit from the "relentless pursuit of eyeballs" in the Chinese internet sector, according to analysts at asset management firm AllianceBernstein. Mini programs are apps within WeChat and have functions in areas such as e-commerce, task management, coupons, and so on. Tech giant Alibaba was given a price target of $100, representing a 14.9% upside from its Sept. 18 close. Kuaishou and Bilibili were given target prices of HK$70 and $16, representing 10.9% and 17.0% upside, respectively. Outlook The analysts said the expansion of channels for spending could lead to accelerating growth in e-commerce penetration, though the extent of upside is "debatable."

Persons: Robin Zhu, Ronald Ma, Xuan Ji, Xiaohongshu, AllianceBernstein, PDD, JD, — CNBC's Michael Bloom Organizations: Douyin, JD, Hong Kong, HK, Tech Locations: China, Pinduoduo

☆ Walmart opens a pet center with veterinary care and grooming as it signals bigger ambitions
▼ + stars: | 2023-09-20 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

Walmart is piloting a pet services center in a suburb of Atlanta, but plans to open more locations in other parts of the country. Walmart is opening a dedicated pet services center, signaling it wants to be a place that customers turn to for veterinarian visits and dog grooming appointments along with grocery runs. Walmart's pet services center will have its own dedicated entrance next to a store. PetIQ has rented space for vet clinics inside more than 65 Walmart stores, after opening its first one in 2016. "We know pet services is an important need for our customers and we want to be able to provide that all in one place," she said.

Persons: Ol, Roy, Sam Walton's, PetIQ, Kaitlyn Shadiow, Morgan Stanley Organizations: Walmart, Walmart U.S, Wellness Locations: Atlanta, Dallas , Georgia, Georgia

MILAN/PARIS, Sept 19 (Reuters) - Gucci creative director Sabato De Sarno takes to the runway in Milan on Friday, in a high-stakes designer debut for the Italian label’s owner, French luxury group Kering (PRTP.PA). De Sarno’s Gucci catwalk presentation – one of the industry’s most highly-anticipated shows this year – will serve as an aesthetic reset for the brand, aimed at reigniting sales, but it is also the first major test of a sweeping overhaul at Kering. The group has also taken steps to broaden its revenue sources, announcing plans to buy high end perfumer Creed in June and a 30% stake in fashion label Valentino in July. “We don’t think that a margin reset would be badly received by the market,” said Carole Madjo, analyst with Barclays. Reporting by Mimosa Spencer and Elisa Anzolin Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Gucci, Sabato De Sarno, De Sarno’s Gucci, Valentino, Louis, Jean, Francois Palus, Marco Bizzarri, De Sarno’s, Bizzarri, Alessandro Michele, De Sarno's, Sabato De Sarno's, ”, Carole Madjo, Daria Werbowy, Luca Solca, Bernstein, Mimosa Spencer, Elisa Anzolin, Tomasz Janowski Organizations: MILAN, Louis Vuitton, Dior . Group, Gucci, RBC, Barclays, De, Thomson Locations: PARIS, Milan, Kering

☆ Strong retail sales in the face of stubborn inflation bodes well for two of our consumer stocks
▼ + stars: | 2023-09-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

This week's government economic data revealed pockets of durable consumer spending despite sticky inflation, signaling a favorable quarter ahead and further upside for two of our retail stocks. Since Amazon is the largest e-commerce retailer, the government data suggests Amazon sales in the third quarter should be positive sequentially. Case for Costco Strong August retail sales numbers also bode well for Costco which essentially sells most items listed in the government's dataset. According to Jim, Costco has been doing so well because "the consumer seems very intrigued by bargains," as they've dealt with high inflation for over a year. For August, Costco said U.S. sales rose 2.8% from a year ago, slightly edging out the year-over-year, inflation-adjusted 2.5% gain in U.S. retail sales overall, reported by the Commerce Department.

Persons: we're, Morgan Stanley, Amazon's, Jim Cramer, bode, Jim, Jefferies, Costco's Kirkland, Jim Cramer's, Robert Nickelsberg Organizations: Texas, Costco, Amazon, Deal, Management, Commerce Department, Jefferies, Telsey Advisory, CNBC, Costco Wholesale, Getty Locations: U.S, Colchester , Vermont

☆ Lowe's CEO says the 'greatest deterrent' for retail theft is hiring and training workers
▼ + stars: | 2023-09-15 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Incidents of retail theft appear to be rising, but some companies are managing to avoid the trend. Although Lowe's has reported an increase in inventory shrink, it's not expected to hurt profits. CEO Marvin Ellison attributed low theft rates to investing in the company's workers. But unlike dozens of other retail executives, Lowe's CEO Marvin Ellison says the losses from retail theft this year are not expected to have a material impact on the company's profits. Lowe's CEO Marvin Ellison says the home improvement chain's low inventory shrink rate is "not by accident."

Persons: Lowe's, Marvin Ellison, Ellison, David Swanson, they've Organizations: Service, CNBC, Tractor Supply Locations: Wall, Silicon

☆ The main reasons retailers are posting weaker profits this year have nothing to do with theft
▼ + stars: | 2023-09-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

A growing number of retailers are blaming retail theft for hurting their profits this year. Estimates say inventory shrink will exceed $100 billion for 2023, with over a third due to external theft. Inventory shrink is an accounting term that refers to several reasons merch goes missing, including damage, managerial errors, and, most conspicuously, theft. Dick's Sporting Goods cited an "alarming" rise in retail crime as responsible for one-third of the decline in merchandise profits for the last quarter. CFO Navdeep Gupta said the surprisingly high inventory losses were discovered as a result of the company's annual inventory audit.

Persons: merch, Lowe's, Brian Cornell, Navdeep Gupta, Dick's, — Organizations: Service, National Retail, CNBC, Dick's Sporting Goods, Cornell, Dick's, Goods Locations: Wall, Silicon

☆ How much are retailers losing to shrink and theft? In many cases, it's not the main drag on profits
▼ + stars: | 2023-09-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

During second-quarter earnings reports in August and September, nearly two dozen retailers said shrink has continued to weigh on profits. During its second quarter earnings call with analysts, the company said shrink was in line with the year-ago period. Over the last few quarters, more and more retailers have called out shrink as a drain on profits and blamed theft for those losses. Others that loosely blame shrink and theft for plummeting profits without providing much more explanation may be trying to obfuscate internal issues, said Lapinsky. Contrary to other retailers, shrink was the largest drag on Ulta's earnings during fiscal 2022, according to a securities filing.

Persons: Lindsey Nicholson, Dick's, Ulta, Sonia Lapinsky, AlixPartners, that's what's, Macy's, CNBC's Courtney Reagan, Jeff Gennette, Gennette, TJX, John Klinger Organizations: Walgreens, Universal, Getty, CNBC, Target, Dick's Sporting Goods, Walmart, Lowe's Locations: Queens , New York

☆ JCPenney CEO: Working families are struggling to get by as inflation bites
▼ + stars: | 2023-09-05 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —JCPenney CEO Marc Rosen sees plenty of evidence that working-class families are struggling. “And that customer is facing a tougher economic environment.”The JCPenney CEO pointed to the snowballing effect inflation has had on family budgets, noting that the typical household is spending about $700 more per month than they did two years ago for the same goods and services. He pointed to strong private brand sales for apparel as well as for home goods like cookware and small appliances such as blenders and toasters. The JCPenney CEO wouldn’t directly answer whether the department store plans to return to the public markets through an initial public offering. “We think there are a lot of advantages right now to being a private company,” Rosen said, noting that JCPenney’s owners are reinvesting in the company and are taking a “long-term perspective” on that investment.

Persons: Marc Rosen, Liz Claiborne, Rosen, ” Rosen, delinquencies, “, JCPenney, wouldn’t Organizations: New, New York CNN, CNN, “, JCPenney, New York Federal Reserve, ” Bank of America, Simon Property Group, Brookfield Asset Management Locations: New York

☆ How Best Buy is winning the war against retail theft
▼ + stars: | 2023-08-30 | by ( Hayley Peterson | ) www.businessinsider.com time to read: +4 min

But Best Buy said Tuesday that theft at its stores has remained relatively stable. On Tuesday's call, Barry rattled off a list of strategies that she said has helped Best Buy combat theft. Best Buy employs security workers at store entrancesBarry said Best Buy employs asset-protection employees at its front doors. Best Buy stores have one entrance and few self-checkout registersBarry highlighted other features of Best Buy's stores as theft deterrents. Best Buy is locking away some merchandiseBarry said Best Buy has started removing some items from the sales floor that could be prime targets for thieves.

Persons: —, Corie Barry, Dick's, Barry, Matt Kelley, Richard Galanti, we've Organizations: Walmart, Service, Dick's Sporting Goods, Costco, LiveView Technologies Locations: Wall, Silicon

☆ Merch, vinyl, hotels and credit cards: Taylor Swift's Eras Tour helped a bunch of companies – but hurt others
▼ + stars: | 2023-08-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Taylor Swift's Eras Tour had a significant impact on several public companies this summer. "Knowing how our guests can't get enough of Taylor Swift, we proactively secured an exclusive vinyl offering that Swifties bought in droves." "In July, Taylor Swift launched her Eras Tour merch shop with us experiencing unprecedented volume sales and site visitors on launch day, and we were ready for it." "Folks aren't buying as much patio furniture when they're spending hundreds or thousands of dollars to go to Taylor Swift. Rolling Stones, U2, Madonna, Prince, and this Taylor Swift performance was at a whole different level.

Persons: Taylor, Taylor Swift, Swifties, Christina Hennington, — Harvey Finkelstein, — Boyd Muir, — Leslie Hale, Raymond Martz, Jon Bortz, Wee Ee Cheong, Thomson Leighton, James Conroy, It's, Jonathan Johnson, Tom Schmitt Organizations: Service, AlphaSense, Merchandising, Universal Music, Lodging, Overseas Bank, Bot, Akamai, Forward Locations: Wall, Silicon, Chicago

☆ Theft has become such a nightmare for Dollar Tree and Family Dollar stores that they're going to lock up some items and simply stop selling others
▼ + stars: | 2023-08-25 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Theft is becoming a mounting problem at Dollar Tree and Family Dollar stores. At Dollar Tree, shrink costs increased 0.75% in the quarter to July 29 year-over-year. At Family Dollar, shrink costs were up 0.45%. As of late July, Dollar Tree, Inc owned just under 16,500 stores, with around half Dollar Tree and half Family Dollar. Execs said at May's call that measures to help improve shrink levels included defensive merchandising, store closures, and local government action.

Persons: Rick Dreiling, Dreiling, Execs, Brian Cornell, Jeff Davis, Davis, We'll Organizations: Service, Inc, Dick's Sporting Goods Locations: Wall, Silicon

The deal, which would give Shein a roughly one-third interest in SPARC Group, expands Forever 21's reach by bringing the label to Shein's online platform, which serves about 150 million users. The partnership also presents an opportunity for Singapore-based and China-founded Shein to step into Forever 21's retail locations across the United States. Under the agreement, SPARC Group would also become a minority shareholder in Shein. Shein's Forever 21 deal will help it reach beyond its core ultra-fast fashion, primarily Generation Z, customer base, Amlani said. The Forever 21 deal will also enable the fast-fashion retailer to test in-person experiences including "shop-in-shops" and allow customers to return merchandise in physical stores.

Persons: Dado Ruvic, Shein, Simon Property, Liza Amlani, Amlani, Savyata Mishra, Deborah Sophia, Shilpi Majumdar, Tomasz Janowski Organizations: REUTERS, SPARC Group, Forever, Brands, Simon, SPARC, Thomson Locations: Singapore, China, United States, Shein, Brazil, U.S, Bengaluru, Arriana, New York

☆ Shoppers are trading down, even in secondhand purchases
▼ + stars: | 2023-08-22 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

Even though fair condition bags, shoes, and accessories show signs of heavier wear, The RealReal’s report said demand for fair condition bags is up 130% this year. For example, a Chanel flap bag in “fair condition” is $4,900, but in “excellent” could cost 65% more, or about $8,000. But, with the recent rise in fair condition, shoppers have embraced imperfection. They’re willing to buy older, worn items that are made well and still remain beautiful, and they wear them with pride,” said McCandless. Within certain fashion circles, the worn look has become a badge of honor,” she said.

Persons: Alexander McQueen, aren’t, Rati Sahi Levesque, Samantha McCandless, ”, McCandless, “, Millennials, Z, “ We’re Organizations: New, New York CNN, CNN Locations: New York

☆ Lowe's CEO talks about expanding offerings at rural locations: 'this is a passion project for me'
▼ + stars: | 2023-08-22 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Lowe's CEO Marvin Ellison discussed his company's plans to expand its offerings in rural areas with CNBC's Jim Cramer on Tuesday. Ellison said he heard from customers in rural areas that they sometimes had to travel to multiple locations to find products they needed, especially related to pets and livestock. In late July, Lowe's announced it was expanding its store-in-store pilot program with Petco , aiming to give customers easier access to pet supplies. Ellison added that Lowe's has outfitted around 300 stores stores with a new rural merchandising concept, which includes making Carhartt products more available along with the Petco merchandise. The company reported its Q2 earnings Tuesday morning, coming in at $4.56 per share, topping Wall Street's estimates of $4.49, according to Refinitiv.

Persons: Marvin Ellison, Jim Cramer, Ellison, Lowe's

☆ Saudi binge is fiscal free kick for European clubs
▼ + stars: | 2023-08-18 | by ( Streisand Neto | ) www.reuters.com time to read: +3 min

The Saudi binge may help European teams raise funds and meet tough new financial rules. The Roshn Saudi League is a top scorer in the football transfer market. UEFA, the governing body for European football, has introduced new rules limiting clubs’ spending on wages, transfers and agent fees to 70% of revenue. European clubs should take the money before the referee's whistle blows. Saudi clubs have spent over 550 million euros buying players from European clubs in the 2023/2024 transfer season, according to Transfermarkt.

Persons: Al Hilal's, Neymar, Fahd bin Saad Al, Neymar da Silva Santos Júnior, Germain, Rúben Neves, Prince Mohammed bin Salman, Len Blavatnik, China’s, Oscar, Marouane, Hilal, Cristiano Ronaldo, Karim Benzema, Neil Unmack, Thomas Shum, Pranav Kiran Organizations: Soccer, Al, Saudi Pro League, REUTERS Acquire, Reuters, Paris Saint, Saudi, Saudi Public Investment Fund, Britain’s Premier League, Premier League, Deloitte’s Sports Business, UEFA, Deloitte, Reuters Graphics Reuters, Bloomberg, BBC, Thomson Locations: Al Hilal, Paris, France, Saudi, Hilal, Saudi League, Al, Ittihad, Saudi Arabia, Riyadh, Kingdom, Saudi Arabian

☆ I visited Macy's, and saw how disappointing displays and customer service are hurting its sales
▼ + stars: | 2023-08-04 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

I visited the Macy's flagship store in New York City and tried on its new "On 34th" private label. The store appeared to be severely understaffed — no one helped me get a dressing room or at the register. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "Macy's has a real problem with merchandising, both in terms of buying product, allocating product, and displaying product in a compelling way in its stores," retail analyst Neil Saunders told Insider. Saunders told Insider he's visited more than 50 Macy's stores across the country this year.

Persons: Macy's, TJ Maxx, Neil Saunders, Saunders, he's, Ralph Lauren Polo, Where's Waldo Organizations: Service, UBS Locations: New York City, Wall, Silicon, Manhattan

☆ These Club consumer stocks stand to gain as customers continue to economize
▼ + stars: | 2023-08-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Consumers looking to save money are scaling back on big-ticket discretionary purchases, while spending at Club name Costco Wholesale (COST) continues to thrive. Excluding impacts from changes in gasoline prices and foreign exchange, total company core-comparable sales were up 5% on an annual basis last month. Costco's "stronger than expected results are a signal it continues to take share in this difficult consumer environment," analysts at UBS wrote in a note. This strategy offers higher value proposition to customers, allowing the company to raise prices while still maintaining customer engagement. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, BUD, Raymond James, Anheuser, Molson, Elliott, Jim Cramer's, Jim Organizations: Club, Costco Wholesale, Costco, TAG, UBS, Constellation Brands, Modelo Especial, U.S ., Anheuser, Bush Inbev, Molson Coors, TAP, Constellation, Procter & Gamble, Tide, Gillette, Atlantic, Anheuser Bush, Elliott Management, CNBC, Corbis, Getty Locations: U.S, Teterboro , New Jersey

☆ Dating apps like Tinder and OkCupid are hoping new AI features will help you land a date by choosing your profile picture and best matches
▼ + stars: | 2023-08-03 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Match Group, the company behind Tinder and Hinge, announced it's adding new AI features to its apps. Match didn't specify which of its apps could include the AI features. One of the AI features could explain why the app recommended a match to the user. A screenshot of Match Group's AI concepts for its new AI features. Some app users are already using AI to improve their dating lives.

Persons: Tinder, Bernard Kim, Kim, Mark van Ryswyk, Salvatore Damiata Organizations: Artificial Intelligence Locations: Match's

☆ Mattel's Barbie is a hit. Retailers and restaurants want in
▼ + stars: | 2023-07-29 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +8 min

Around that time, it started planning Barbie parties: Celebrations with themed cocktails, pink food and plenty of opportunities to show off Barbiecore outfits in the Instagram-friendly venue, including life-size hot pink Barbie and Ken boxes. By marketing Barbie products to adults, large retailers may be able to get them to buy similar products for kids. With Barbie products that appeal to grown-ups, marketers are “getting that interactivity between adults and children, that bonding,” which can also be used as a selling point. The clothing retailer offers a Barbie line that includes Gap and Barbie branded t-shirts, jackets and more, for both kids and adults. Nordhielm pointed to Cold Stone Creamery’s Barbie pink cotton candy ice cream as a standout.

Persons: Barbie ”, “ Barbie ”, Moshe Isaacian, Isaacian, Richard Drew, “, ”, Tim Calkins, Barbie, Ken, Leana Chavez, cabana, Lauren McCord, Christie Nordhielm, Richard Dickson, Richard B, Levine, Levine Roberts, “ Barbie, Oppenheimer, David Canales, David Reibstein, University of Pennsylvania’s Wharton, we’re, Mike Blake, ” Reibstein, “ it’s, Northwestern’s Calkins, Mattel, Chrissy Teigen Organizations: New, New York CNN, Twitter, Mattel, Warner Bros, CNN, Warner Bros ., Northwestern University’s Kellogg School of Management, Wunder, Georgetown University’s McDonough School of Business, Press, University of Pennsylvania’s, Reuters, Creamery Locations: New York, Wunder Garten, Washington , DC, Zara, Gran Via, Madrid, Malibu, Malibu , California

☆ How Aimé Leon Dore Took New York
▼ + stars: | 2023-07-27 | by ( Jon Caramanica | More About Jon Caramanica | ) www.nytimes.com time to read: +2 min

He met Anthony Bigio, now vice president for design, when Mr. Bigio was designing custom Air Force 1s for clients at Nike’s Mercer Street location. Joe Bavasso, now ALD’s vice president for product, had a job at Todd Snyder but sought out Mr. Santis in hopes that ALD would sponsor his summer basketball team in the Rockaways. A few years ago, Mr. Santis discovered the New Balance 550, a low-top lifestyle sneaker, in an old New Balance catalog and revived it as a collaborative release with ALD. Since then, the 550 has become in “a staple iconic franchise for New Balance,” said Chris Davis, the New Balance chief marketing officer and senior vice president for global merchandising. “It was one of those phenomenons in sneaker culture that only comes around once every few years.”

Persons: David Z, Michael K, ravenously, Santis, Anthony Bigio, Bigio, Joe Bavasso, Todd Snyder, ”, Chris Davis Organizations: Air Force, Nike’s, Yankees, Mets, New, New Balance

☆ Want an authentic Lionel Messi Inter Miami kit? You’ll have to wait until October
▼ + stars: | 2023-07-25 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —It’s easy to watch Lionel Messi play in the United States, but dressing like him is a bit more difficult. Fans hoping to purchase an authentic Inter Miami jersey featuring its newest star’s name will have to wait until mid-October (notably, that’s when the Major League Soccer season ends). Shortly after Messi announced his intention of coming to the US in June, online retailer Soccer.com said that it sold six months’ worth of generic Inter Miami jerseys in one day, and they’re still sold out. Messi maniaMessi’s first appearance with Inter Miami ended with him scoring the game-winning goal in extra time. His signing is also expected to be a boon for Apple’s nascent streaming package, MLS Season Pass.

Persons: New York CNN —, Lionel Messi, “, Messi, Soccer.com, they’re, Nathan Ray Seebeck, ” Billy Lalor, won’t, Lalor, ” It’s, Messi’s, ” Messi’s Organizations: New, New York CNN, Inter Miami, Major League Soccer, Adidas, MLS, Florida, USA, Sports, Reuters, CNN, Messi, FIFA, Apple TV, Sports Business, Atlanta United, Inter Miami’s Locations: New York, United States, Argentina

☆ As Macy's stock struggles, the retailer bets on private brands with more modern looks
▼ + stars: | 2023-07-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

NEW YORK — Macy's , the 165-year-old department store chain, is looking for ways to keep up with the newer kids on the block. On Wednesday, it showed off its newest private brand, On 34th, at its Macy's Herald Square flagship. The brand, named after the legacy store's Manhattan location, is made of up of women's clothing and accessories. The department store operator cut its full-year outlook last month, after seeing consumers pull back on purchases of clothing and other items. Some of Wall Street's worries are company-specific, as investors question whether the legacy department store can keep up with shoppers' changing tastes.

Persons: Tony Spring, Jeff Gennette, Nata Dvir, Gennette, Macy's Organizations: NEW, Target, Herald, Consumers Locations: Manhattan

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