Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
Walmart is rolling out a handful of new apparel brands at low prices and will phase out some of its older brands as a result, a source familiar with those plans confirmed to CNBC.
The revamped clothing lines will include Time and Tru for women, Terra & Sky for plus sizes and Wonder Nation for kids, said the source, who requested anonymity because the information has not yet been released by the company.
The existing brand known as George, which Walmart incorporated from its British unit Asda, will be reconfigured to sell only items for men.
Current labels such as Faded Glory, White Stag and Just My Size will be pulled from shelves. Some of those items will still be available online, though.
Bloomberg first reported the news Friday morning.
As it announced late last year, Walmart is also redesigning its website with a focus on home goods and fashion, which will include merchandise from Hudson's Bay-owned Lord & Taylor. The department store chain's flagship shop on Walmart.com is set to be unveiled later this spring.
Target has been investing heavily in its private-label brands and within the past year has launched A New Day for women, JoyLab for athletic apparel, Goodfellow & Co. for men and Universal Thread for denim.
Amazon has been doing more of the same, albeit quietly, though most of its success in fashion thus far stems from selling basic items, such as underwear and t-shirts. A new report from Coresight Research (formerly Fung Global Retail & Technology) found that the e-commerce behemoth is increasingly a force to be reckoned with in the apparel industry and is stealing share from Target, Macy's and J.C. Penney.
In acquiring Modcloth, Bonobos and Moosejaw, Walmart has started to accumulate a house of established apparel brands under its name. Now it's looking to refresh its own suite of labels to accompany them.
Walmart is scheduled to report fourth-quarter earnings on Tuesday.