President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Foot Locker shares soared on Friday after the shoe company crushed Wall Street's profit projections and reported same-store sales growth that more than doubled expectations.
The company's management pointed to its emphasis on product diversity, strategic partnerships and improvements to both its in-store and digital locations for the earnings and revenue beats. Same-stores sales growth — a metric that measures revenue changes at a company's existing locations — rose 9.7 percent, more than double the 4.6 percent expected.
Foot Locker reported fourth-quarter earnings of $1.56 per share versus Refinitiv estimates of $1.40; sales totaled $2.27 billion.
Shares jumped 5.96 percent Friday.
"We delivered a gain in our gross margin rate above the guidance we provided at the beginning of the year, achieved an inventory turn above our long-term target, and made important investments, both directly in our business and by taking strategic stakes in other companies," Chief Financial Officer Lauren Peters said in a press release.
Foot Locker is in the middle of a broad brand-investment campaign as it seeks to stay relevant with younger shoppers. It announced on Tuesday that it has invested $12.5 million in children's apparel company Rockets of Awesome. That investment comes on the heels of its $100 million venture in online sneaker resell platform Goat Group, along with investments in lifestyle brand Super Heroic, activewear brand Carbon38 and footwear design academy Pensole.
Around 70 percent of the product that Foot Locker buys is from popular shoemaker Nike, which recently revamped its product line and helps drive younger consumers and athletes to its stores, said Cristina Fernandez, senior research analyst at Telsey Advisory Group.
"I would say it's the innovative pipeline and some of the exclusive products that they have," Fernandez told CNBC. "The product innovation pipeline for 2019 is strong and the footwear market remains good."
— CNBC's Lauren Thomas contributed reporting.