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November 20, 2019
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CNBC Business

L Brands sales fall short as Victoria’s Secret declines accelerate, shares rise from 52-week low

CNBC
L Brands turned in mixed third-quarter results Wednesday as declining sales at Victoria’s Secret have continued to weigh its performance. Source link: Click here for more
CNBC Business

L Brands CEO Les Wexner’s future could be at stake as Epstein ties, falling stock haunt him

CNBC
Unlike some other wealthy and powerful associates of Jeffrey Epstein, who died this year, Wexner has yet to face consequences for his relationship with the accused child sex trafficker. Source link: Click here for more
CNBC Business

Amazon and Tesla are among Morgan Stanley’s top ‘secular growth’ ideas

CNBC
Morgan Stanley expects these companies will have strong annual growth for earnings or revenue over the next three years. Source link: Click here for more
CNBC Business

Target is cutting costs by 90% thanks to its same-day delivery options, CEO says

CNBC
Target’s business is booming thanks to the investments the retailer has been making to make it as easy as possible for shoppers to buy things online and get them that same day. Source link: Click here for more
CNBC Business

JC Penney CEO rolls out ‘sound’ strategies, but there’s only so much time to turn around sales

CNBC
J.C. Penney shared updates on its plans to turn around the struggling department store chain. But its sales are still falling, as it continues to lose money. Source link: Click here for more
CNBC Business

Tourists to China can finally use the country’s massively popular mobile payment systems

CNBC
WeChat Pay and Alipay are the most popular mobile payments systems in China but were shut to foreigners. Now that has changed. Source link: Click here for more
CNBC Business

Adidas sales pick up pace as Europe back to growth

CNBC
German sportswear company Adidas said it expects a significant acceleration of sales in the fourth quarter after it reported stronger-than-expected sales and operating profit for the third quarter. Source link: Click here for more
CNBC Business

More people are going to the mall to eat at the food court, not shop, UBS says

CNBC
UBS says apparel spending continues to move online, away from bricks-and-mortar stores, with about 25% of total apparel sales in the U.S. taking place on the internet today. It expects that to grow to 31% by 2023. Source link: Click here for more
CNBC Business

Poor training and quotas threaten The RealReal’s pledge of ‘no fakes’ on its site

CNBC
The RealReal says its authenticators ensure that 100% of the clothes, bags, watches and other items it sells are real. But a CNBC investigation finds a different reality. Source link: Click here for more
CNBC Business

US-China ‘phase one’ deal is not a win for the apparel industry, trade group says

CNBC
As the U.S. and China are closing in on reaching an interim trade deal, the head of the American Apparel & Footwear Association says the organization is “incredibly not happy” over the situation. Source link: Click here for more
CNBC Business

Under Armour shares crater on accounting probe, slashed 2019 revenue outlook

CNBC
Over the weekend, a report from The Wall Street Journal said Under Armour was facing a federal criminal investigation over accounting practices allegedly used to make its finances look healthier. Source link: Click here for more

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