The cost of your shoes could jump thanks to the US-China trade war

The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes. Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff,


The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes. Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff,
The cost of your shoes could jump thanks to the US-China trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: lauren thomas
Keywords: news, cnbc, companies, war, footwear, billion, jump, shoes, increase, trade, thanks, tariff, cost, tariffs, 25, china, working, uschina


The cost of your shoes could jump thanks to the US-China trade war

The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China.

The White House on Monday released a fresh list of about $300 billion in Chinese goods that could get hit with 25% tariffs, if President Donald Trump decides to move forward with his threat. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes.

Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. And the American footwear industry is particularly dependent on China.

In 2017, China accounted for about 72% of all footwear imported into the U.S., according to the American Apparel and Footwear Association. The U.S. imported $11.4 billion worth of footwear from China last year, according to data from the U.S. Census Bureau.

“While brands have moved their production into other countries in Asia because labor costs are lower there, everybody is still making shoes in China,” said Matt Powell, a sports analyst for NPD Group. “The Chinese have years of expertise. They tend to be the best at making high-value product.”

Both Nike and Adidas — the top two sneaker makers in the U.S. by sales — have steadily been easing their reliance on China, shifting production to Vietnam instead. Both companies declined to comment when reached by CNBC.

Puma has said it’s working to do more of the same. But China still dominates when it comes to footwear manufacturing.

“For a lot of working families who buy shoes at Walmart, Target and these other retailers … a ton of volume runs through [China], ” said Matt Priest, the president and CEO of the Footwear Distributors and Retailers of America, a trade organization. The proposed tariffs on footwear “are concerning to say the least,” he said. “It’s every single type of shoe.”

FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff, could increase to $65.57. The price of a typical hunting boot would increase from $190 to $248.56. And a popular performance running shoe could jump from $150 to $206.25, FDRA said.

Ultimately, a 25% tariff on footwear could cost shoppers more than $7 billion each year, Priest said — what he called a “conservative” estimate.

— CNBC’s Jessica Golden contributed to this reporting.

WATCH: Cramer explains which businesses have the most exposure to the trade war


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: lauren thomas
Keywords: news, cnbc, companies, war, footwear, billion, jump, shoes, increase, trade, thanks, tariff, cost, tariffs, 25, china, working, uschina


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Under Armour earnings, sales top expectations. And the stock is swinging all over the place

Under Armour shares seesawed Tuesday after the sneaker maker reported better-than-expected fourth-quarter earnings and revenue, boosted by apparel sales and growth overseas. Under Armour earned 9 cents per share on an adjusted basis during the fourth quarter, topping analyst expectations of 4 cents per share, according to average estimates compiled by Refinitiv. Footwear sales were down 4 percent, as Under Armour said it sold fewer shoes in discount stores during the holiday period. Under Armour


Under Armour shares seesawed Tuesday after the sneaker maker reported better-than-expected fourth-quarter earnings and revenue, boosted by apparel sales and growth overseas. Under Armour earned 9 cents per share on an adjusted basis during the fourth quarter, topping analyst expectations of 4 cents per share, according to average estimates compiled by Refinitiv. Footwear sales were down 4 percent, as Under Armour said it sold fewer shoes in discount stores during the holiday period. Under Armour
Under Armour earnings, sales top expectations. And the stock is swinging all over the place Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: lauren thomas, getty images
Keywords: news, cnbc, companies, place, sales, footwear, technical, armour, street, shares, quarter, analysts, stock, expectations, fourth, swinging, inventory, earnings


Under Armour earnings, sales top expectations. And the stock is swinging all over the place

Under Armour shares seesawed Tuesday after the sneaker maker reported better-than-expected fourth-quarter earnings and revenue, boosted by apparel sales and growth overseas.

The stock surged more than 5 percent in premarket trading before falling more than 3 percent and rebounding after the markets opened. Shares were last up more than 7 percent.

Wall Street likes Under Armour’s progress in slashing excess inventory — getting rid of items that didn’t sell well in stores and online — and generating excitement among shoppers around new product launches. But analysts and investors are still concerned about the retailer’s U.S. sales, which fell 2 percent in 2018 and still lag rivals Nike and Adidas.

“We worry the burden of proof lies on management to inflect its North America, direct-to-consumer and footwear trends,” Nomura Instinet analyst Simeon Siegel said.

Under Armour earned 9 cents per share on an adjusted basis during the fourth quarter, topping analyst expectations of 4 cents per share, according to average estimates compiled by Refinitiv.

Sales rose 1.5 percent to $1.39 billion, ahead of expectations for $1.38 billion.

Under Armour said U.S. sales fell 6 percent from the previous year to $965 million during the fourth quarter, while international sales climbed 28 percent, after adjusting for fluctuations in foreign exchange rates, to $395 million and now account for 28 percent of its total revenue.

It said apparel sales were up 2 percent, fueled by its training business. Footwear sales were down 4 percent, as Under Armour said it sold fewer shoes in discount stores during the holiday period. Accessories sales declined 2 percent.

The retailer didn’t make any changes to its outlook for 2019, which it originally laid out in December.

It’s still calling for sales to be “relatively flat” in North America this year; up 3 to 4 percent overall. Wall Street was largely disappointed when Under Armour first announced these targets. Analysts said at the time they imply the focus this year will still be on investing and that more meaningful growth won’t come until 2020 or later.

Under Armour has been grappling with how to grow U.S. sales amid a landscape flush with competition from Adidas, Nike and Lululemon. Part of its efforts to turn things around have included cutting staff, finding ways to trim excess inventory sitting in warehouses and promising a bigger focus on new sneakers and women’s items.

Under Armour said inventory levels dropped 12 percent during the fourth quarter to $1 billion.

On a call with analysts Tuesday morning, CEO Kevin Plank said the company plans to stay true to its “performance” gear, despite “athleisure” wear gaining more momentum in the U.S. of late. “We get athleisure … but we believe Under Armour is born on the field,” Plank said. “It’s technical in its nature.”

Some of the retailer’s best-selling footwear brands include Project Rock, Curry 6 and its Hovr sneakers. Under Armour also recently announced it’s going to be spaceflight company Virgin Galactic’s “technical spacewear partner,” making custom spacesuits and shoes for astronauts.

“We are building scarcity [with new products] on purpose, to make sure we are gaining traction versus pushing product in the marketplace,” President Patrik Frisk told CNBC.

Under Armour shares have climbed more than 50 percent over the past year.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: lauren thomas, getty images
Keywords: news, cnbc, companies, place, sales, footwear, technical, armour, street, shares, quarter, analysts, stock, expectations, fourth, swinging, inventory, earnings


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Amazon will dethrone Walmart as the No. 1 retailer of apparel this year, predicts Wells Fargo

1 seller of apparel in the U.S. in 2018, according to Wells Fargo, which raised its price target on the Seattle-based retailer Monday following new analysis into its clothing segment. The e-commerce behemoth’s apparel and footwear gross sales is expected to top $30 billion this year and leapfrog longtime incumbent Walmart for the top spot, wrote Wells Fargo analyst Ike Boruchow. But despite the already-impressive swell in stock price, Wells Fargo expects shares to top $2,300 in 12 months, more t


1 seller of apparel in the U.S. in 2018, according to Wells Fargo, which raised its price target on the Seattle-based retailer Monday following new analysis into its clothing segment. The e-commerce behemoth’s apparel and footwear gross sales is expected to top $30 billion this year and leapfrog longtime incumbent Walmart for the top spot, wrote Wells Fargo analyst Ike Boruchow. But despite the already-impressive swell in stock price, Wells Fargo expects shares to top $2,300 in 12 months, more t
Amazon will dethrone Walmart as the No. 1 retailer of apparel this year, predicts Wells Fargo Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: thomas franck, adam jeffery
Keywords: news, cnbc, companies, retailer, market, walmart, amazon, times, number, million, fargo, dethrone, predicts, shares, wells, footwear, earlier, apparel


Amazon will dethrone Walmart as the No. 1 retailer of apparel this year, predicts Wells Fargo

Amazon has another milestone in its sights. And this time, Walmart’s in the crosshairs.

The e-commerce giant will be the No. 1 seller of apparel in the U.S. in 2018, according to Wells Fargo, which raised its price target on the Seattle-based retailer Monday following new analysis into its clothing segment.

The e-commerce behemoth’s apparel and footwear gross sales is expected to top $30 billion this year and leapfrog longtime incumbent Walmart for the top spot, wrote Wells Fargo analyst Ike Boruchow.

“Amazon dominates the online market for apparel and footwear (35 percent of share, or four times the #2 player) and they even have remarkably high market share in the total apparel/footwear market in the U.S.,” he wrote in a note to clients.

“The gross merchandise value (GMV) of apparel and footwear that was sold on Amazon’s platforms approached $25 billion in 2017 — representing five times to six times the amount of softlines sold on the site just 5 years earlier,” he added.

With chief executive Jeff Bezos at the helm, Amazon shares have rallied more than 23 percent in the past six months and 101 percent over the past year, and even briefly topped $1 trillion in market value. But despite the already-impressive swell in stock price, Wells Fargo expects shares to top $2,300 in 12 months, more than 17 percent upside from Friday’s close.

Bezos’ zeal for exploring new sides of retail is also proving lucrative, with a growing number of shoppers starting to purchase everything from socks to cosmetics on the website.

While the company has found success in selling casual items for everyday wear such as socks and underwear, partnerships with popular brands such as Nike offer added popularity.

Morgan Stanley issued a similar warning to clothiers earlier this year, when it also projected Amazon’s ascent to the top apparel spot.

“Though some retailers believe that their space and product category is well-insulated from the Amazon threat, others are taking a ‘if you can’t beat ’em, join ’em’ perspective,” Boruchow said.

Amazon’s success also owes much to its ability to drive web traffic to its site, the analyst argued.

In the second quarter, the number of unique visitors to Amazon.com in the United States accelerated to 190 million, 75 percent of all web users. Further, the company disclosed earlier this year that it has more than 100 million paying Prime members.

Analysts at Citigroup, meanwhile, said in a note published Sunday that they expect the number of Prime subscribers to more than double to 275 million over the next decade.

Amazon shares fell 0.7 percent Monday.


Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: thomas franck, adam jeffery
Keywords: news, cnbc, companies, retailer, market, walmart, amazon, times, number, million, fargo, dethrone, predicts, shares, wells, footwear, earlier, apparel


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US industry leader on tariffs: ‘Prices will go up, sales will go down, jobs will be lost’

Trade war: Costs will be passed on to consumers sooner than later, CEO says 5 Hours Ago | 02:45U.S. tariffs on Chinese imports will simply mean that American consumers have to pay higher prices for products down the road, an industry association leader said on Friday. “We’re having some serious problems with this tariffs situation,” said Rick Helfenbein, president and CEO at the American Apparel and Footwear Association. “What’s going to happen down the road is very simple — prices will go up, s


Trade war: Costs will be passed on to consumers sooner than later, CEO says 5 Hours Ago | 02:45U.S. tariffs on Chinese imports will simply mean that American consumers have to pay higher prices for products down the road, an industry association leader said on Friday. “We’re having some serious problems with this tariffs situation,” said Rick Helfenbein, president and CEO at the American Apparel and Footwear Association. “What’s going to happen down the road is very simple — prices will go up, s
US industry leader on tariffs: ‘Prices will go up, sales will go down, jobs will be lost’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-24  Authors: huileng tan, stringer, afp, getty images
Keywords: news, cnbc, companies, lost, american, prices, products, sales, leader, apparel, imports, tariffs, jobs, worth, road, industry, footwear


US industry leader on tariffs: 'Prices will go up, sales will go down, jobs will be lost'

Trade war: Costs will be passed on to consumers sooner than later, CEO says 5 Hours Ago | 02:45

U.S. tariffs on Chinese imports will simply mean that American consumers have to pay higher prices for products down the road, an industry association leader said on Friday.

“We’re having some serious problems with this tariffs situation,” said Rick Helfenbein, president and CEO at the American Apparel and Footwear Association.

“This is disruptive to our supply chains, this is hurtful to our business,” he added.

Helfenbein was speaking on the back of a new round of U.S. tariffs on $16 billion worth of Chinese imports, which kicked in on Thursday, prompting Beijing to retaliate with its own levies on American goods worth the same amount.

“What’s going to happen down the road is very simple — prices will go up, sales will go down, jobs will be lost. This will have a negative impact on the economy,” Helfenbein told CNBC’s “Squawk Box.”

The apparel and footwear industry will be hard hit by the tariffs because 41 percent of all apparel, 72 percent of all footwear and 84 percent of all accessories imported into the U.S. come from China, said Helfenbein.

There are limited sourcing options as most products come from China, Vietnam, Bangladesh, India and Indonesia, he said.


Company: cnbc, Activity: cnbc, Date: 2018-08-24  Authors: huileng tan, stringer, afp, getty images
Keywords: news, cnbc, companies, lost, american, prices, products, sales, leader, apparel, imports, tariffs, jobs, worth, road, industry, footwear


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Twitter gets in a tizzy over high-heels version of Crocs

Have Crocs, the people who brought the world its super-popular foam sandals in the early 2000s, jumped the shark? That’s what many in the Twitterverse think after the Colorado-based company introduced a high-heels version of their plastic footwear, which has seen a recent revival after going out of fashion about 10 years after their successful launch. As for the high-heeled style, there are, however, none of the round holes found in the conventional Crocs. We didn’t need to add high heel crocs t


Have Crocs, the people who brought the world its super-popular foam sandals in the early 2000s, jumped the shark? That’s what many in the Twitterverse think after the Colorado-based company introduced a high-heels version of their plastic footwear, which has seen a recent revival after going out of fashion about 10 years after their successful launch. As for the high-heeled style, there are, however, none of the round holes found in the conventional Crocs. We didn’t need to add high heel crocs t
Twitter gets in a tizzy over high-heels version of Crocs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-17  Authors: matthew diebel, source
Keywords: news, cnbc, companies, twitter, plastic, gets, shoes, user, highheels, footwear, version, going, heel, mansfield, crocs, tizzy, world


Twitter gets in a tizzy over high-heels version of Crocs

Have Crocs, the people who brought the world its super-popular foam sandals in the early 2000s, jumped the shark?

That’s what many in the Twitterverse think after the Colorado-based company introduced a high-heels version of their plastic footwear, which has seen a recent revival after going out of fashion about 10 years after their successful launch.

As for the high-heeled style, there are, however, none of the round holes found in the conventional Crocs. Instead, it features plastic straps highlighted by the Crocs logo. The 2-inch-high footwear comes in two colors, grey/platinum (with a pink insole) and black.

The elevated adaptation kicked off a spirited debate on social media, with most commentators stomping on the new shoes.

“There are so many sad things going on in the world right now. We didn’t need to add high heel crocs to the list,” said a Twitter user, StilettoNinja

Another Twitterer, Eloquent Delinquent, echoed the sentiment. “This is really a sign the end of the world is coming,” she said.

And there were many more slams for the plastic platforms:

A few tweets pointed out that Crocs have already produced shoes that add a couple of inches to a wearer’s height. However, these models are either wedges or do not have the semi-stiletto heel of the new version.

“I’ve had these for years,” said a user identified as Heather Hansen.

Meanwhile, a few came to the defense of the new shoes. A Twitter user called Finn used an blazing emoji to describe them as “hot.”

And user Megan Mansfield said she would be purchasing a pair.

And here’s the kicker: It seems that Mansfield is not alone – the shoes, called the Croc Women’s Cyprus V Heel and with a recommended price of $44.99, appear to have sold out, with resellers listing them at $224.75 on Amazon.


Company: cnbc, Activity: cnbc, Date: 2018-07-17  Authors: matthew diebel, source
Keywords: news, cnbc, companies, twitter, plastic, gets, shoes, user, highheels, footwear, version, going, heel, mansfield, crocs, tizzy, world


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Sneaker sales are growing as sales of high heels tumble

That trend has become especially apparent in women’s sneaker sales, which have surged 37 percent throughout the U.S. in 2017. Meanwhile, sales of high heels have declined 11 percent during the same time period, according to the NPD Group’s Retail Tracking Service. The trend is twofold: Consumers want comfort, and there are more options across all shoe categories. “Brands that are focusing on comfort are doing better, because that something that women of all ages want,” she said. The sneaker tren


That trend has become especially apparent in women’s sneaker sales, which have surged 37 percent throughout the U.S. in 2017. Meanwhile, sales of high heels have declined 11 percent during the same time period, according to the NPD Group’s Retail Tracking Service. The trend is twofold: Consumers want comfort, and there are more options across all shoe categories. “Brands that are focusing on comfort are doing better, because that something that women of all ages want,” she said. The sneaker tren
Sneaker sales are growing as sales of high heels tumble Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-05-18  Authors: kellie ell, getty images
Keywords: news, cnbc, companies, goldstein, growing, women, fashion, womens, heels, high, sales, footwear, trend, sneaker, comfort, ugg, tumble


Sneaker sales are growing as sales of high heels tumble

As American fashion has slowly become more casual, so has footwear. That trend has become especially apparent in women’s sneaker sales, which have surged 37 percent throughout the U.S. in 2017. Meanwhile, sales of high heels have declined 11 percent during the same time period, according to the NPD Group’s Retail Tracking Service.

Brands like Nike, Adidas, Dr. Scholl’s, Roxy, Puma, Steve Madden and UGG, are just a few of the names that are getting the benefit of women slipping into more comfortable footwear. The trend is twofold: Consumers want comfort, and there are more options across all shoe categories.

“It’s becoming kind of a basic consumer need to have comfort and the desire to be comfort because everybody’s so busy and running around all the time,” Beth Goldstein, NPD’s executive director and industry analyst for fashion footwear and accessories, told CNBC.

“Brands that are focusing on comfort are doing better, because that something that women of all ages want,” she said. The sneaker trend will likely continue in the double digits for the next few years, Goldstein added, as it becomes more of a lifestyle choice.


Company: cnbc, Activity: cnbc, Date: 2018-05-18  Authors: kellie ell, getty images
Keywords: news, cnbc, companies, goldstein, growing, women, fashion, womens, heels, high, sales, footwear, trend, sneaker, comfort, ugg, tumble


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Nike’s vice president of footwear quits, the latest in a string of high-level executive departures this month

Nike’s vice president of footwear, Greg Thompson, has left the company, a company spokesman said on Wednesday, the latest in a string of executive departures at the sportswear maker. Nike’s vice president of diversity and inclusion, Antoine Andrews, left earlier this week. Trevor Edwards, president of Nike’s namesake brand, resigned last month, followed by the exit of another vice president, Jayme Martin. Nike, at the time of Edwards’ exit, said there had been “conduct inconsistent with Nike’s c


Nike’s vice president of footwear, Greg Thompson, has left the company, a company spokesman said on Wednesday, the latest in a string of executive departures at the sportswear maker. Nike’s vice president of diversity and inclusion, Antoine Andrews, left earlier this week. Trevor Edwards, president of Nike’s namesake brand, resigned last month, followed by the exit of another vice president, Jayme Martin. Nike, at the time of Edwards’ exit, said there had been “conduct inconsistent with Nike’s c
Nike’s vice president of footwear quits, the latest in a string of high-level executive departures this month Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-19  Authors: rich lam getty images
Keywords: news, cnbc, companies, left, vice, quits, exit, conduct, latest, values, highlevel, month, footwear, president, edwards, week, string, nikes, executive, company


Nike's vice president of footwear quits, the latest in a string of high-level executive departures this month

Nike’s vice president of footwear, Greg Thompson, has left the company, a company spokesman said on Wednesday, the latest in a string of executive departures at the sportswear maker.

Nike’s vice president of diversity and inclusion, Antoine Andrews, left earlier this week. Trevor Edwards, president of Nike’s namesake brand, resigned last month, followed by the exit of another vice president, Jayme Martin.

Nike, at the time of Edwards’ exit, said there had been “conduct inconsistent with Nike’s core values and against our code of conduct,” but added that there were no direct allegations of misconduct against Edwards. Edwards is continuing as an adviser to Nike CEO until he retires in August.


Company: cnbc, Activity: cnbc, Date: 2018-04-19  Authors: rich lam getty images
Keywords: news, cnbc, companies, left, vice, quits, exit, conduct, latest, values, highlevel, month, footwear, president, edwards, week, string, nikes, executive, company


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You’re already paying tariffs on clothing and shoes, and have been for almost 90 years

In fact, American consumers have been paying for tariffs on clothing and shoes since the 1930 Smoot-Hawley Tariff Act. Clothing, shoes, textiles and travel goods only make up 6 percent of everything the U.S. imports, but the group collectively generated more than half of the $34.5 billion in tariffs collected in 2017. Indonesia holds the third spot for footwear imports at more than 4 percent, according to an analysis of trade data by the AAFA. More than 41 percent of U.S. clothing imports are fr


In fact, American consumers have been paying for tariffs on clothing and shoes since the 1930 Smoot-Hawley Tariff Act. Clothing, shoes, textiles and travel goods only make up 6 percent of everything the U.S. imports, but the group collectively generated more than half of the $34.5 billion in tariffs collected in 2017. Indonesia holds the third spot for footwear imports at more than 4 percent, according to an analysis of trade data by the AAFA. More than 41 percent of U.S. clothing imports are fr
You’re already paying tariffs on clothing and shoes, and have been for almost 90 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-06  Authors: courtney reagan, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, consumers, shoes, imports, goods, china, tariffs, youre, clothing, tariff, billion, paying, footwear, 90


You're already paying tariffs on clothing and shoes, and have been for almost 90 years

Retail experts think consumers should be scared of tariffs.

“One hundred billion in further tariffs is beyond frightening,” says American Apparel & Footwear Association CEO Rick Helfenbein as the Trump administration is proposing an additional $100 billion in tariffs on products imported from China, beyond the $50 billion detailed earlier this week.

But tariffs aren’t new to retail.

In fact, American consumers have been paying for tariffs on clothing and shoes since the 1930 Smoot-Hawley Tariff Act.

The current average duty rate paid for all goods the U.S. imports is 1.4 percent, while the average tariff on travel goods and footwear is about 11 percent, according to the AAFA.

While apparel and footwear have not been specifically listed (yet) as targets of further tariffs, most that study trade say there are only so many categories the U.S. imports from China, making it almost inevitable these categories are next.

Especially considering 97 percent of all clothing and 98 percent of all footwear sold in the U.S. were made overseas.

Clothing, shoes, textiles and travel goods only make up 6 percent of everything the U.S. imports, but the group collectively generated more than half of the $34.5 billion in tariffs collected in 2017.

It’s true that shoe shipments from China to the U.S. have fallen to a 20-year low, but the U.S. still imports more footwear pairs from China than any other country, at nearly 73 percent. Vietnam is next at 16 percent, and imports from the nation have grown for 17 straight years. Indonesia holds the third spot for footwear imports at more than 4 percent, according to an analysis of trade data by the AAFA.

More than 41 percent of U.S. clothing imports are from China, followed by more than 12 percent from Vietnam, 7 percent from Bangladesh and 5 percent from Indonesia.

Footwear Distributors and Retailers of America CEO Matt Priest says there are 436 ways to classify shoes when it comes to the government’s tariff codes and based on construction materials of the upper and outer soles, footwear duties go as high as 67.5 percent.

Duties on clothing are also levied in a wide range, including pantyhose at 16 percent, certain knit tops and men’s coats at 28 percent.

Whether Americans realize it or not, Priest says consumers are currently paying for all of those tariffs.


Company: cnbc, Activity: cnbc, Date: 2018-04-06  Authors: courtney reagan, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, consumers, shoes, imports, goods, china, tariffs, youre, clothing, tariff, billion, paying, footwear, 90


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Footwear company Nine West files for bankruptcy and will sell some brands

U.S. footwear and apparel company Nine West filed for bankruptcy on Friday and said it would sell its Nine West and Bandolino footwear and handbag business to Authentic Brands Group. Nine West, which owns brands such as Anne Klein and Gloria Vanderbilt, said it had received $300 million in debtor-in-possession financing and had entered a restructuring agreement. Reuters had reported of Nine West’s plans on Thursday and sources had said the company had about $1.5 billion in debt. Nine West listed


U.S. footwear and apparel company Nine West filed for bankruptcy on Friday and said it would sell its Nine West and Bandolino footwear and handbag business to Authentic Brands Group. Nine West, which owns brands such as Anne Klein and Gloria Vanderbilt, said it had received $300 million in debtor-in-possession financing and had entered a restructuring agreement. Reuters had reported of Nine West’s plans on Thursday and sources had said the company had about $1.5 billion in debt. Nine West listed
Footwear company Nine West files for bankruptcy and will sell some brands Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-06  Authors: daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, filing, plans, wests, range, files, million, bankruptcy, brands, west, company, billion, footwear, sell


Footwear company Nine West files for bankruptcy and will sell some brands

U.S. footwear and apparel company Nine West filed for bankruptcy on Friday and said it would sell its Nine West and Bandolino footwear and handbag business to Authentic Brands Group.

Nine West, which owns brands such as Anne Klein and Gloria Vanderbilt, said it had received $300 million in debtor-in-possession financing and had entered a restructuring agreement.

The company, which had missed a debt interest payment in March, now plans to focus on its apparel, jewelry and jeanswear businesses.

Reuters had reported of Nine West’s plans on Thursday and sources had said the company had about $1.5 billion in debt.

U.S. retailers are going through a period of upheaval, with more than 15 filing for bankruptcy last year unable to stand up to competition from online shopping.

Nine West listed assets in the range of $500 million to $1 billion, according to a court filing. The filing also stated Nine West’s liabilities in the range of $1 billion to $10 billion.


Company: cnbc, Activity: cnbc, Date: 2018-04-06  Authors: daniel acker, bloomberg, getty images
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Nine West nears bankruptcy with plan to sell footwear brand: sources

Fashion footwear company Nine West Holdings intends to file for bankruptcy as soon as this week with a plan to sell the intellectual property of its flagship brand to Authentic Brands Group, people familiar with the matter said on Thursday. The sources cautioned that an agreement between Authentic Brands and Nine West has not been finalized and asked not to be identified because the matter is confidential. Authentic Brands, Nine West and Sycamore Partners, the private equity owner of Nine West,


Fashion footwear company Nine West Holdings intends to file for bankruptcy as soon as this week with a plan to sell the intellectual property of its flagship brand to Authentic Brands Group, people familiar with the matter said on Thursday. The sources cautioned that an agreement between Authentic Brands and Nine West has not been finalized and asked not to be identified because the matter is confidential. Authentic Brands, Nine West and Sycamore Partners, the private equity owner of Nine West,
Nine West nears bankruptcy with plan to sell footwear brand: sources Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-05  Authors: jennifer whitney, bloomberg, getty images
Keywords: news, cnbc, companies, footwear, plan, brands, authentic, debt, bankruptcy, sycamore, brand, sources, jones, sell, west, nears, group


Nine West nears bankruptcy with plan to sell footwear brand: sources

Fashion footwear company Nine West Holdings intends to file for bankruptcy as soon as this week with a plan to sell the intellectual property of its flagship brand to Authentic Brands Group, people familiar with the matter said on Thursday.

The proceeds from the sale will pay down some of Nine West’s approximately $1.5 billion in debt, increasing the chances that the company will emerge from a planned bankruptcy, the sources said.

Nine West missed a debt interest payment in March, setting off a 30-day period in which the accessories seller must either make the payment or face bankruptcy.

The company’s creditors plan to take ownership stakes in Nine West’s remaining business, including its denim line sold in mass merchandisers such as Walmart Inc and Sears Holdings Corp, in exchange for forgiving some of their debt, the sources said.

The sources cautioned that an agreement between Authentic Brands and Nine West has not been finalized and asked not to be identified because the matter is confidential. Authentic Brands, Nine West and Sycamore Partners, the private equity owner of Nine West, declined to comment.

Brand licensing firm Authentic Brands recently announced it would buy the sporty Nautica brand from VF Corp and plans to team up with a partner on the Nine West acquisition, according to the sources.

U.S. retailers are going through a period of upheaval, with more than 15 filing for bankruptcy last year as more shoppers buy online. Nine West competitor Aerosoles Group filed for bankruptcy last year.

Sycamore acquired the Jones Group Inc, then the parent of Nine West, in a deal valued at $2.2 billion in 2014. Sycamore then sold high-end shoe wear lines Stuart Weitzman and Kurt Geiger, part of the Jones Group.

Some creditors of Nine West plan to pursue claims against Sycamore for the sale of Kurt Geiger and Stuart Weitzman, the sources said. The creditors will claim that the divestitures of the shoe companies made Nine West insolvent, the sources said.

Authentic Brands has done business with Sycamore before. It bought the Jones New York label from Sycamore in 2015.


Company: cnbc, Activity: cnbc, Date: 2018-04-05  Authors: jennifer whitney, bloomberg, getty images
Keywords: news, cnbc, companies, footwear, plan, brands, authentic, debt, bankruptcy, sycamore, brand, sources, jones, sell, west, nears, group


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