China and India will become asset management ‘powerhouses,’ top fund manager says

China and India are poised to become “real powerhouses” for the asset management industry, according to Standard Life Aberdeen Vice-Chairman Martin Gilbert. Speaking to CNBC at the first Financial Sector Conference in Riyadh, Saudi Arabia, Gilbert said Asia remained the key focus for asset management arm Aberdeen Standard Investments (ASI), based on the growth in retail investors and wealth in China and India. “It’s not really a retail market yet but when it is, China, India, these sort of place


China and India are poised to become “real powerhouses” for the asset management industry, according to Standard Life Aberdeen Vice-Chairman Martin Gilbert. Speaking to CNBC at the first Financial Sector Conference in Riyadh, Saudi Arabia, Gilbert said Asia remained the key focus for asset management arm Aberdeen Standard Investments (ASI), based on the growth in retail investors and wealth in China and India. “It’s not really a retail market yet but when it is, China, India, these sort of place
China and India will become asset management ‘powerhouses,’ top fund manager says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: elliot smith, jason alden, bloomberg via getty images
Keywords: news, cnbc, companies, china, powerhouses, manager, asset, retail, fund, real, management, standard, industry, india, gilbert


China and India will become asset management 'powerhouses,' top fund manager says

China and India are poised to become “real powerhouses” for the asset management industry, according to Standard Life Aberdeen Vice-Chairman Martin Gilbert.

Speaking to CNBC at the first Financial Sector Conference in Riyadh, Saudi Arabia, Gilbert said Asia remained the key focus for asset management arm Aberdeen Standard Investments (ASI), based on the growth in retail investors and wealth in China and India.

“It’s not really a retail market yet but when it is, China, India, these sort of places are going to be real powerhouses for the asset management industry,” Gilbert said.

ASI expanded its Asian investment team in November 2018, with four portfolio managers joining in Shanghai and Hong Kong to bolster its China fixed income and equities expertise.

Gilbert said China’s top-down economy and political structure meant that “you need to be close to the government in China and as far away from the government as possible in India.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: elliot smith, jason alden, bloomberg via getty images
Keywords: news, cnbc, companies, china, powerhouses, manager, asset, retail, fund, real, management, standard, industry, india, gilbert


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Retail sales likely bounced back on expected higher spending on gasoline, cars

Consumers are expected to have spent more on gasoline and cars in March, likely pushing monthly retail sales higher after February’s surprise decline. Economists expect retail sales rose by 0.9% for the month, but 0.7% when autos are not included, according to Refinitiv data. March retail sales are scheduled to be released Thursday at 8:30 a.m. “Wage gains picked up a little bit year over year, but it’s lackluster compared to the spending growth … hourly earnings growth is lagging consumer spe


Consumers are expected to have spent more on gasoline and cars in March, likely pushing monthly retail sales higher after February’s surprise decline. Economists expect retail sales rose by 0.9% for the month, but 0.7% when autos are not included, according to Refinitiv data. March retail sales are scheduled to be released Thursday at 8:30 a.m. “Wage gains picked up a little bit year over year, but it’s lackluster compared to the spending growth … hourly earnings growth is lagging consumer spe
Retail sales likely bounced back on expected higher spending on gasoline, cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: patti domm, beth hall, bloomberg, getty images
Keywords: news, cnbc, companies, higher, retail, growth, consumer, gdp, think, consumers, sales, cars, expected, surprise, spending, gasoline, bounced, expects, likely


Retail sales likely bounced back on expected higher spending on gasoline, cars

Consumers are expected to have spent more on gasoline and cars in March, likely pushing monthly retail sales higher after February’s surprise decline.

Economists expect retail sales rose by 0.9% for the month, but 0.7% when autos are not included, according to Refinitiv data.

The monthly sales number is being watched closely to see whether consumer spending is recovering after a string of uneven reports, including December’s sharp decline and February’s surprise drop of 0.2%. January’s sales gained 0.7%. March retail sales are scheduled to be released Thursday at 8:30 a.m. ET.

The sales report includes a key component used by economists to calculate GDP growth, scheduled to be reported next Friday for the first quarter. The retail sales report is one of the last pieces of data. First-quarter GDP looked to be barely growing early on in the period, but has gone from sub-1% to just over 2% in a few weeks.

Scott Anderson, chief economist at Bank of the West, said he expects to see a bounceback in March sales in part because because February sales were so weak.

“We think the consumer is going to slow the pace of their spending this year,” he said. “Wage gains picked up a little bit year over year, but it’s lackluster compared to the spending growth … hourly earnings growth is lagging consumer spending growth. That dynamic hasn’t changed. Consumers were really confident, spending a lot last year. They’re probably going to have to tighten their belts.”

Mark Zandi, chief economist at Moody’s Analytics, expects retail sales to be up at least 1%. “Part of that is vehicle sales. Weather is favorable so building materials supplies stores should be solid. I think it could be up at least a point, but it could be higher than that,” he said.

“Core sales [excluding autos, gasoline and building materials] are probably up 0.3%. I think the data coming out of payment processors continued to be soft in March,” he said. “Consumers are really turning cautious since the end of the year.”

Anderson said he expects GDP growth of about 2.2% for the first quarter but that number has been inflated by inventories so there could be some pay back in the second quarter.

Economists surveyed by CNBC/Moody’s Analytics rapid update had a consensus median tracking estimate of 2.1% for first-quarter growth.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: patti domm, beth hall, bloomberg, getty images
Keywords: news, cnbc, companies, higher, retail, growth, consumer, gdp, think, consumers, sales, cars, expected, surprise, spending, gasoline, bounced, expects, likely


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Cramer Remix: Bed Bath & Beyond is not a lost cause

CNBC’s Jim Cramer on Thursday said it’s time for “wholesale change” in Bed Bath & Beyond’s management. “In 2016, [CEO Steven] Temares started telling us he’d made the stores more experiential to improve the shopping experience, but you wouldn’t know it if you’ve been to a Bed Bath & Beyond lately,” Cramer said. A number of groups are reportedly trying to leverage their share in Bed Bath & Beyond to change the board of directors, and the stock spiked on the news last month. The activists said tha


CNBC’s Jim Cramer on Thursday said it’s time for “wholesale change” in Bed Bath & Beyond’s management. “In 2016, [CEO Steven] Temares started telling us he’d made the stores more experiential to improve the shopping experience, but you wouldn’t know it if you’ve been to a Bed Bath & Beyond lately,” Cramer said. A number of groups are reportedly trying to leverage their share in Bed Bath & Beyond to change the board of directors, and the stock spiked on the news last month. The activists said tha
Cramer Remix: Bed Bath & Beyond is not a lost cause Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: tyler clifford, andrew harrer, bloomberg, getty images, john lamparski, wireimage, adam jeffery, jim watson, afp
Keywords: news, cnbc, companies, trying, cause, temares, margins, bath, stock, goods, remix, retail, bed, host, cramer, lost


Cramer Remix: Bed Bath & Beyond is not a lost cause

CNBC’s Jim Cramer on Thursday said it’s time for “wholesale change” in Bed Bath & Beyond’s management.

“The company still has a good balance sheet, $1 billion in cash, so I think it can be saved,” the “Mad Money” host said. “But I gotta tell you something: not with this management team.”

The home goods chain is grossly behind the new retail landscape, where it must compete with e-commerce disrupters such as Amazon, Cramer said. The company’s “half-hearted initiatives,” such as focusing on private-label brands, have not boosted the margins, and home furnishing and décor is simply not working, he added.

“In 2016, [CEO Steven] Temares started telling us he’d made the stores more experiential to improve the shopping experience, but you wouldn’t know it if you’ve been to a Bed Bath & Beyond lately,” Cramer said.

Activist investors, who buy large amounts of a certain stock to push major changes in that company, want Temares out. A number of groups are reportedly trying to leverage their share in Bed Bath & Beyond to change the board of directors, and the stock spiked on the news last month.

The activists said that Bed Bath & Beyond lost 58% of its value during a same period that the S&P 500 has gained 342% and its retail peers increased 592%, Cramer noted.

“All of that pain is from the past five years,” he said.

To compete with Amazon’s prices for identical products, Bed Bath & Beyond is trying to lure customers to its $29 loyalty program with 20% discounts and free shipping on internet orders, Cramer said.

“This strategy has been devastating for Bed Bath’s … gross margins — what they make after the cost of goods sold — which have fallen from 40% in 2012 to under 35% in the latest quarter,” the host said.

Get his full thoughts here


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: tyler clifford, andrew harrer, bloomberg, getty images, john lamparski, wireimage, adam jeffery, jim watson, afp
Keywords: news, cnbc, companies, trying, cause, temares, margins, bath, stock, goods, remix, retail, bed, host, cramer, lost


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British retailer Debenhams falls into administration

Debenhams’ lenders took control of the ailing British retailer on Tuesday after it went into administration, wiping out shareholders including billionaire Mike Ashley in the latest corporate failure on the high street. Administrators from FTI Consulting immediately sold Debenhams’ holding company to a new entity owned by its lenders. “It is disappointing to reach a conclusion that will result in no value for our equity holders,” Chairman Terry Duddy said. “However, this transaction will allow De


Debenhams’ lenders took control of the ailing British retailer on Tuesday after it went into administration, wiping out shareholders including billionaire Mike Ashley in the latest corporate failure on the high street. Administrators from FTI Consulting immediately sold Debenhams’ holding company to a new entity owned by its lenders. “It is disappointing to reach a conclusion that will result in no value for our equity holders,” Chairman Terry Duddy said. “However, this transaction will allow De
British retailer Debenhams falls into administration Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: universal images group, getty images
Keywords: news, cnbc, companies, debenhams, stores, british, retailer, marks, value, retail, battling, pounds, trading, lenders, administration, million, falls


British retailer Debenhams falls into administration

Debenhams’ lenders took control of the ailing British retailer on Tuesday after it went into administration, wiping out shareholders including billionaire Mike Ashley in the latest corporate failure on the high street.

Once the biggest department store chain in the country, Debenhams has been battling with a sharp slowdown in sales, high rents and ballooning debt, plus an acrimonious battle with its largest shareholder, Ashley’s Sports Direct.

While its stores will keep trading, the appointment of administrators marks the latest corporate failure in the British retail sector after House of Fraser, electronics firm Maplin and cycle shop Evans all struggled to stay afloat.

Administrators from FTI Consulting immediately sold Debenhams’ holding company to a new entity owned by its lenders. Contracts with stores, staff and suppliers were held by its operating companies and will not be affected, it said.

The announcement marks defeat for the retail billionaire Ashley, who has spent months battling to wrest control of the business, offering a rescue plan that came with the condition he was appointed the chief executive.

“It is disappointing to reach a conclusion that will result in no value for our equity holders,” Chairman Terry Duddy said.

“However, this transaction will allow Debenhams to continue trading as normal; access the funding we need; and proceed with executing our turnaround plans, whilst deleveraging the group’s balance sheet.”

Despite its long history, Debenhams has been battling for survival after a consumer shift online and to cheaper outlets destroyed 90 percent of its share value in the past year.

It currently has debt facilities worth 720 million pounds and a market valuation of 22 million pounds.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: universal images group, getty images
Keywords: news, cnbc, companies, debenhams, stores, british, retailer, marks, value, retail, battling, pounds, trading, lenders, administration, million, falls


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Looming downturn won’t slow consumer, retail M&A: A.T. Kearney

“With high competition, changing consumer preferences and a slowdown economy on the horizon, we’re looking at M&A differently,” said Bahige El-Rayes, a partner at A.T. Kearney and co-author of the report. Long-standing companies in the retail and consumer sector are shifting gradually from using dealmaking to build marketshare and economies of scale to trying to find a way to offer a differentiating customer experience, El-Rayes said. The A.T. Kearney report predicts that smaller scale, strategi


“With high competition, changing consumer preferences and a slowdown economy on the horizon, we’re looking at M&A differently,” said Bahige El-Rayes, a partner at A.T. Kearney and co-author of the report. Long-standing companies in the retail and consumer sector are shifting gradually from using dealmaking to build marketshare and economies of scale to trying to find a way to offer a differentiating customer experience, El-Rayes said. The A.T. Kearney report predicts that smaller scale, strategi
Looming downturn won’t slow consumer, retail M&A: A.T. Kearney Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: emma newburger, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, looming, 2018, ma, deals, sector, portfolios, wont, companies, downturn, kearney, retail, slow, consumer, billion, report


Looming downturn won't slow consumer, retail M&A: A.T. Kearney

Major consumer and retail companies are looking to mergers and acquisitions to strengthen their portfolios in the face of an anticipated economic slowdown by the end of 2019, according to a new report from consulting firm A.T. Kearney.

The sector is expected to address years of anemic growth and shifting consumer demands by rebalancing corporate portfolios to include skill gaps like last-mile delivery, digital capabilities and e-commerce, according to the report, which analysed 2018 M&A data and insights from executives in consumer packaged goods, retail and private equity.

“With high competition, changing consumer preferences and a slowdown economy on the horizon, we’re looking at M&A differently,” said Bahige El-Rayes, a partner at A.T. Kearney and co-author of the report.

Long-standing companies in the retail and consumer sector are shifting gradually from using dealmaking to build marketshare and economies of scale to trying to find a way to offer a differentiating customer experience, El-Rayes said.

“Right now, we’re seeing weakness in a lot of CPG companies and their portfolios. We see this because their portfolios are not as customer-focused as they should be,” El-Rayes said. “Customers are shifting their appetite from big brands to smaller brands, to brands that connect to their values.”

The A.T. Kearney report predicts that smaller scale, strategic M&As will characterize the consumer and retail sector in 2019.

There’s been a wide stretch of strong M&A activity since the financial crisis, but firms are bracing for an anticipated economic slowdown at the year’s end. Global political tension, trade wars and slowing economies abroad have contributed to fewer international M&A deals this year.

In 2019, companies struck $913 billion of merger deals on an international scale, down 17 percent from the same period in 2018, according to Dealogic, a financial markets platform.

The CPG and retail sector also saw a drop in M&A activity from $392 billion in 2017 to $308 billion in 2018, primarily due to the absence of so-called megadeals, or deals greater than $30 billion. There was no M&A activity in the CPG and retail sector of over $30 billion in 2018, while deals under $30 billion remained stable.

Investors are looking more at deals that will build up a legacy company through acquisition of smaller firms, the report said. The volume of midsize deals fell 4 percent in 2018, but their value rose 6 percent as investors looked to integrate new brands, customers and talent.

“We expect to see more divestitures happening in the next 12 months, as companies are looking to rebalance their portfolio,” said Bob Haas, a partner at A.T. Kearney and co-author of the report.

—Graphic by CNBC’s John Schoen


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: emma newburger, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, looming, 2018, ma, deals, sector, portfolios, wont, companies, downturn, kearney, retail, slow, consumer, billion, report


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Two under-the-radar retail buys as the group breaks out, according to experts

Despite the move higher, two experts said there are still bargain buys within the space. “One name that really sticks out in retail land is Columbia Sportswear,” Ari Wald, head of technical analysis at Oppenheimer, said Thursday on CNBC’s “Trading Nation.” Retail has been “range-bound in recent months,” he said, also pointing out that “over the last five years it’s been in the same price range.” So as a result, Wald believes “there are more attractive opportunities for funds at the industry leve


Despite the move higher, two experts said there are still bargain buys within the space. “One name that really sticks out in retail land is Columbia Sportswear,” Ari Wald, head of technical analysis at Oppenheimer, said Thursday on CNBC’s “Trading Nation.” Retail has been “range-bound in recent months,” he said, also pointing out that “over the last five years it’s been in the same price range.” So as a result, Wald believes “there are more attractive opportunities for funds at the industry leve
Two under-the-radar retail buys as the group breaks out, according to experts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: pippa stevens, luke sharrett, bloomberg, getty images, scott mlyn, brendan smialowski, afp, rosley majid, eyeem, mike blake
Keywords: news, cnbc, companies, undertheradar, believes, petrides, group, sportswear, stock, higher, buys, wald, trading, industry, breaks, retail, experts, according, theyre


Two under-the-radar retail buys as the group breaks out, according to experts

Investors are shopping for retail stocks.

The XRT, an ETF that tracks the sector, is up nearly 10 percent this year, and is tracking for its best quarter since 2014. Despite the move higher, two experts said there are still bargain buys within the space.

“One name that really sticks out in retail land is Columbia Sportswear,” Ari Wald, head of technical analysis at Oppenheimer, said Thursday on CNBC’s “Trading Nation.” Last month the company reported fourth-quarter earnings that handily beat analyst expectations, leading to a nearly 16 percent surge in the stock the following day. The move higher eclipsed the $96 mark — which had previously been a key level of resistance, according to Wald — and the stock has been trading in the $100-$105 region ever since.

Wald notes that technicians call this a bullish flag pattern (so named since the vertical jump higher followed by a continuation of trading in that range can resemble a flag poll), and he believes the stock’s slight pullback this week is a buying opportunity.

“[W]e think this little near-term pullback should be bought in anticipation for a resumption of that breakout and a longer-term uptrend that’s still in play,” he said. Shares of the sportswear maker are up roughly 25 percent this year.

While Wald likes Columbia Sportswear, he cautions on buying the sector as a whole. Retail has been “range-bound in recent months,” he said, also pointing out that “over the last five years it’s been in the same price range.” So as a result, Wald believes “there are more attractive opportunities for funds at the industry level.”

On the flip side, John Petrides, managing director and portfolio manager at Point View Wealth Management, is more optimistic on the future of retail since he believes companies recognize threats to the industry — especially the rise of e-commerce — and are changing accordingly.

“[B]y and large many of the retailers have adjusted. They’re building out their online presence, they’re cutting their square-footage growth, they’re slowing their store space store openings, so they’re living in the new world that they’re in, and they’re now able to thrive, or at least grow at a new normal,” he said.

Petrides also thinks that the economic backdrop of low unemployment coupled with wage growth will continue to spur gains for the sector.

He specifically likes Hanesbrands. The stock has been on a tear this year, soaring 41 percent, but the move higher follows a dismal 2018 that saw the name drop 40 percent. It’s still more than 20 percent away from its June 52-week high, and Petrides contends that strong fundamentals will propel it higher.

“[H]ere’s a stock that dominates the industry that it’s in. … trading at less than 10 times earnings, less than one times price to sales. Currently offers a 3.5 percent dividend yield and based on [the] company’s projections and current prices should have about a 10 percent free cash flow yield, so we think that’s an attractive stock to own in this environment,” Petrides said.

Disclosure: Point View Wealth Management and John Petrides or someone in his household own shares of Hanesbrands.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: pippa stevens, luke sharrett, bloomberg, getty images, scott mlyn, brendan smialowski, afp, rosley majid, eyeem, mike blake
Keywords: news, cnbc, companies, undertheradar, believes, petrides, group, sportswear, stock, higher, buys, wald, trading, industry, breaks, retail, experts, according, theyre


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GameStop is doubling down on its investment in surging esports industry

In 2006, GameStop signed a multiyear deal with esports league Major League Gaming and partnered with Warner Bros. Interactive Entertainment more recently in 2017 for a fighting game tournament featuring the latter’s “Injustice 2” title. This time, GameStop’s esports push coincides with the company’s attempts to reinvent itself in light of the changing gaming retail landscape. Nevertheless, Hamlin stresses that GameStop still has a footprint that allows it to grow the esports community and forge


In 2006, GameStop signed a multiyear deal with esports league Major League Gaming and partnered with Warner Bros. Interactive Entertainment more recently in 2017 for a fighting game tournament featuring the latter’s “Injustice 2” title. This time, GameStop’s esports push coincides with the company’s attempts to reinvent itself in light of the changing gaming retail landscape. Nevertheless, Hamlin stresses that GameStop still has a footprint that allows it to grow the esports community and forge
GameStop is doubling down on its investment in surging esports industry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: annie pei, scott mlyn
Keywords: news, cnbc, companies, retail, theyre, investment, surging, stores, tournaments, league, industry, doubling, company, gamestop, gaming, esports, community


GameStop is doubling down on its investment in surging esports industry

The latest partnerships are hardly the gaming retailer’s first foray into esports. In 2006, GameStop signed a multiyear deal with esports league Major League Gaming and partnered with Warner Bros. Interactive Entertainment more recently in 2017 for a fighting game tournament featuring the latter’s “Injustice 2” title.

This time, GameStop’s esports push coincides with the company’s attempts to reinvent itself in light of the changing gaming retail landscape. Before GameStop concluded efforts to sell the company in January, the retailer had already been forced to close stores after being hit hard by digital sales.

The company last week named retail veteran George Sherman chief executive, the fifth CEO in just over a year. And despite focusing more on gaming accessories and boosting its rewards program, over half of the analysts on the Street who cover the company’s stock rate it as a hold.

Nevertheless, Hamlin stresses that GameStop still has a footprint that allows it to grow the esports community and forge ahead with partnerships.

“Domestically, we have 3,800 retail stores for gamers that are within a skateboard ride of 85 percent of the U.S. population,” he said. “We believe that by hosting esports gaming clinics and tournaments across our retail stores will give us an advantage with the amateur community. That’s our role for our partners and our specialty retail advantage in the video game ecosystem.”

Complexity Gaming founder and CEO Jason Lake also commented on GameStop’s significance for the gaming community, emphasizing that the kind of exposure that GameStop can offer “can’t be given by other corporate partners.”

“I think GameStop is synonymous with gaming in North America, … and they’re looking to modernize what they’re doing across the industry,” he said. “From our perspective, they’re a better corporate partner as they’re a partner that’s been synonymous with gaming for so long.”

GameStop will also be partnering with the Collegiate Star League to promote and establish college-level esports tournaments and events.

Shares of GameStop are down 20 percent year to date after the stock plummeted in late January when the company ended efforts to sell itself. The company is set to report earnings on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: annie pei, scott mlyn
Keywords: news, cnbc, companies, retail, theyre, investment, surging, stores, tournaments, league, industry, doubling, company, gamestop, gaming, esports, community


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GameStop is doubling down on its investment in surging esports industry

In 2006, GameStop signed a multiyear deal with esports league Major League Gaming and partnered with Warner Bros. Interactive Entertainment more recently in 2017 for a fighting game tournament featuring the latter’s “Injustice 2” title. This time, GameStop’s esports push coincides with the company’s attempts to reinvent itself in light of the changing gaming retail landscape. Nevertheless, Hamlin stresses that GameStop still has a footprint that allows it to grow the esports community and forge


In 2006, GameStop signed a multiyear deal with esports league Major League Gaming and partnered with Warner Bros. Interactive Entertainment more recently in 2017 for a fighting game tournament featuring the latter’s “Injustice 2” title. This time, GameStop’s esports push coincides with the company’s attempts to reinvent itself in light of the changing gaming retail landscape. Nevertheless, Hamlin stresses that GameStop still has a footprint that allows it to grow the esports community and forge
GameStop is doubling down on its investment in surging esports industry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: annie pei, scott mlyn
Keywords: news, cnbc, companies, retail, theyre, community, stores, league, investment, esports, gaming, tournaments, doubling, gamestop, company, industry, surging


GameStop is doubling down on its investment in surging esports industry

The latest partnerships are hardly the gaming retailer’s first foray into esports. In 2006, GameStop signed a multiyear deal with esports league Major League Gaming and partnered with Warner Bros. Interactive Entertainment more recently in 2017 for a fighting game tournament featuring the latter’s “Injustice 2” title.

This time, GameStop’s esports push coincides with the company’s attempts to reinvent itself in light of the changing gaming retail landscape. Before GameStop concluded efforts to sell the company in January, the retailer had already been forced to close stores after being hit hard by digital sales.

The company last week named retail veteran George Sherman chief executive, the fifth CEO in just over a year. And despite focusing more on gaming accessories and boosting its rewards program, over half of the analysts on the Street who cover the company’s stock rate it as a hold.

Nevertheless, Hamlin stresses that GameStop still has a footprint that allows it to grow the esports community and forge ahead with partnerships.

“Domestically, we have 3,800 retail stores for gamers that are within a skateboard ride of 85 percent of the U.S. population,” he said. “We believe that by hosting esports gaming clinics and tournaments across our retail stores will give us an advantage with the amateur community. That’s our role for our partners and our specialty retail advantage in the video game ecosystem.”

Complexity Gaming founder and CEO Jason Lake also commented on GameStop’s significance for the gaming community, emphasizing that the kind of exposure that GameStop can offer “can’t be given by other corporate partners.”

“I think GameStop is synonymous with gaming in North America, … and they’re looking to modernize what they’re doing across the industry,” he said. “From our perspective, they’re a better corporate partner as they’re a partner that’s been synonymous with gaming for so long.”

GameStop will also be partnering with the Collegiate Star League to promote and establish college-level esports tournaments and events.

Shares of GameStop are down 20 percent year to date after the stock plummeted in late January when the company ended efforts to sell itself. The company is set to report earnings on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: annie pei, scott mlyn
Keywords: news, cnbc, companies, retail, theyre, community, stores, league, investment, esports, gaming, tournaments, doubling, gamestop, company, industry, surging


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Guy Kawasaki on the state of innovation at Apple

People want Apple to create new categories, not just better and better versions of what they already have.” This is a high-quality, though extremely difficult, problem,” says Kawasaki, who is now an investor, speaker and author of “Wise Guy: Lessons from a Life.” …[I]t’s trying to be the latter,” Kawasaki tells CNBC Make It. Back when Apple launched retail stores in 2001, Kawasaki says everyone thought they knew what worked in retail, and “Apple defied them all. Now, many people probably assum


People want Apple to create new categories, not just better and better versions of what they already have.” This is a high-quality, though extremely difficult, problem,” says Kawasaki, who is now an investor, speaker and author of “Wise Guy: Lessons from a Life.” …[I]t’s trying to be the latter,” Kawasaki tells CNBC Make It. Back when Apple launched retail stores in 2001, Kawasaki says everyone thought they knew what worked in retail, and “Apple defied them all. Now, many people probably assum
Guy Kawasaki on the state of innovation at Apple Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: catherine clifford, photo courtesy of guy kawasaki
Keywords: news, cnbc, companies, guy, kawasaki, innovation, steve, tells, state, retail, called, subscription, apple, better, services


Guy Kawasaki on the state of innovation at Apple

“We have our iPhones and iPads, and we know they will get better and better. But that’s not the test for Apple. People want Apple to create new categories, not just better and better versions of what they already have.”

Indeed, some users were not overly impressed with the second generation airpods, and though CNBC called the iPad Mini “compact and incredibly powerful,” The Verge called it “a little bit of an Apple parts-bin remix, but the parts are all good.”

The issue is, “Apple has established such high expectations that few other companies can keep up with it — and it’s even difficult for Apple to top itself. This is a high-quality, though extremely difficult, problem,” says Kawasaki, who is now an investor, speaker and author of “Wise Guy: Lessons from a Life.”

But with three new subscription services announced on Monday — a TV service, a gaming bundle and an all-you-can-read magazine subscription — as well as an Apple-branded credit launched in partnership with Goldman Sachs, Kawasaki says it raises a new question: “Is Apple simply the best device company or the best device and services company? …[I]t’s trying to be the latter,” Kawasaki tells CNBC Make It.

Wall Street investors were largely unimpressed with the services and credit card. But Kawasaki sees things a little differently.

“Will it succeed? It would be foolish to bet against Apple based on my experience,” Kawasaki says. “Skepticism that greeted Macintosh, iPod, iPhone, iPad, and the retail stores. In each case, the pundits predicted Apple would fail. In each case, the pundits were wrong.”

Back when Apple launched retail stores in 2001, Kawasaki says everyone thought they knew what worked in retail, and “Apple defied them all. Now, many people probably assume that everyone ‘knows’ how to do services,” Kawasaki tells CNBC Make It. “If nothing else, Apple will once again force everyone to improve their game, so what’s not to like?”

Apple did not immediately respond to CNBC Make It’s request for comment.

See also:

Former Apple CEO John Sculley: What I learned from Steve Jobs

Here’s what happened when Steve Jobs called to buy this founder’s start-up

4 keys to launching a successful business, according to this entrepreneur who sold Siri to Steve Jobs


Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: catherine clifford, photo courtesy of guy kawasaki
Keywords: news, cnbc, companies, guy, kawasaki, innovation, steve, tells, state, retail, called, subscription, apple, better, services


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March Madness is good for retail stocks

The 2019 NCAA men’s basketball tournament kicked off last week. While all sorts of studies find March Madness costs the economy billions of dollars in lost productivity, it seems people still find time to shop. Over the past decade, the U.S. retail industry group has outperformed the Consumer Discretionary sector after March Madness. This holds up to a month after the start of the tournament. The group has traded higher 90% of time with an average return of more than 3% according to a CNBC analy


The 2019 NCAA men’s basketball tournament kicked off last week. While all sorts of studies find March Madness costs the economy billions of dollars in lost productivity, it seems people still find time to shop. Over the past decade, the U.S. retail industry group has outperformed the Consumer Discretionary sector after March Madness. This holds up to a month after the start of the tournament. The group has traded higher 90% of time with an average return of more than 3% according to a CNBC analy
March Madness is good for retail stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: cnbccom staff, cnbc
Keywords: news, cnbc, companies, madness, shopover, stocks, tournamentthe, group, traded, sp, retail, weekwhile, studies, good, tournament, sorts, start


March Madness is good for retail stocks

The 2019 NCAA men’s basketball tournament kicked off last week.

While all sorts of studies find March Madness costs the economy billions of dollars in lost productivity, it seems people still find time to shop.

Over the past decade, the U.S. retail industry group has outperformed the Consumer Discretionary sector after March Madness.

This holds up to a month after the start of the tournament.

The group has traded higher 90% of time with an average return of more than 3% according to a CNBC analysis of Kensho.

That also beats the broader S&P 500 handily.


Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: cnbccom staff, cnbc
Keywords: news, cnbc, companies, madness, shopover, stocks, tournamentthe, group, traded, sp, retail, weekwhile, studies, good, tournament, sorts, start


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