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On Holding AG, a Swiss sneaker maker backed by Roger Federer, has raised its sales outlook for the year to at least 2.29 billion Swiss francs. The company's record-high net sales last quarter saw a 33% increase from the previous year, driven by sales through its own stores and websites. On has rapidly expanded across Europe, North America, and Asia, and is venturing into sportswear with a new apparel line and a partnership with Zendaya. Despite its success, On does not plan on offering widespread discounts during the holiday season. [Extracted from the article]

After Donald Trump was elected as US president, municipal bonds experienced a significant drop in value due to concerns about his policies potentially widening the budget deficit and causing inflation. This led to a sell-off in US Treasuries as well. Investors in state and local government debt were worried about the impact of Trump's policies on inflation and the market. Despite initial concerns, experts believe that the broader US economy is resilient and will not be drastically affected by short-term political events. [Extracted from the article]

The article discusses the atmosphere in New York City as the 2024 presidential election results are awaited. It highlights diverse perspectives from different neighborhoods, including voters' motivations for supporting either Kamala Harris or Donald Trump. The article captures the tension and anticipation felt across the city, reflecting a range of opinions on key issues such as immigration, women's rights, and the economy. The piece provides a snapshot of the varied sentiments and experiences of New Yorkers during this pivotal moment in American politics. [Extracted from the article]

Nike Inc. has appointed Kizmet Mills as its new Chief Diversity, Equity, and Inclusion Officer and Vice President, as part of a senior leadership reorganization under new CEO Elliott Hill. Mills, who previously worked at Coca-Cola Co., will replace James Loduca, who is leaving the company to spend more time with his family. CEO Hill is restructuring senior staff to focus on serving athletes more effectively, following a challenging year for the company marked by layoffs and declining sales. [Extracted from the article]

Nike's new CEO, Elliott Hill, has begun reshuffling the company's management team, starting with changes in legal, sports marketing, and supply chain departments. The move comes as Nike has faced challenges, with shares declining by nearly 30% this year. Hill aims to refocus the company on serving athletes, addressing criticism of moving too far into lifestyle products. Venkatesh Alagirisamy has also been appointed to the senior leadership team as chief supply chain officer. [Extracted from the article]

The article discusses the increasing trend of school districts investing in AI-powered systems to enhance security measures in response to the fear of gun violence. The Lancaster County School District in South Carolina is considering allocating $2 million for such systems. While some argue that these technologies offer a false sense of security, others believe they provide peace of mind. The surge in spending on school security is attributed to high-profile school shootings that have shaped the national conversation on campus safety. [Extracted from the article]

Investors are showing interest in municipal bonds before a decrease in supply due to the upcoming elections. JPMorgan Chase & Co. predicts a 70% drop in tax-exempt issuance in November, prompting some to take advantage of higher yields this week. While some, like Baird, are eager to invest before the elections, others, like American Century Investments, are focused on potential tax code changes. Despite concerns from some, muni ETFs have seen increased inflows in October, indicating continued investor interest. [Extracted from the article]

Cash-strapped colleges in the US are facing financial challenges due to declining enrollment and rising costs. To address these issues, many schools are selling off valuable assets like art, mansions, and real estate. While these sales provide immediate relief, they may not offer long-term solutions and can lead to backlash from students, faculty, and the wider community. The College of Saint Rose and Valparaiso University are examples of schools that faced closure or criticism for selling cherished assets. Despite the financial pressures, some institutions like the New School in New York City are strategically selling assets to strengthen their financial position for the future. [Extracted from the article]

Apple CEO Tim Cook has been playing a significant role in helping Nike navigate through challenging times, serving as the company's lead independent director and providing valuable advice on leadership shake-ups and strategic decisions. Cook's close relationship with Nike dates back to 2005 when he joined the board, and he has been instrumental in guiding the sportswear giant through various upheavals. His expertise in technology and strategic thinking has been highly valued by Nike executives, and his influence extends to areas such as e-commerce operations and product development. Cook's collaboration with Nike reflects a long-standing partnership that has evolved over the years, with both companies benefiting from each other's strengths and expertise. [Extracted from the article]

In 2024, municipal bond sales for new infrastructure projects in the United States are on track to reach a record-breaking $250 billion, a 30% increase from the previous year. This surge in sales is attributed to the stabilization of interest rates, confidence in the economy, and the need for major infrastructure repairs and growth. Higher inflation has also led to increased construction costs, prompting governments to borrow more to fund projects. The municipal bond market remains a key source of financing for public transit systems, highways, schools, and various other infrastructure developments. [Extracted from the article]

Bank of America analysts predict that state and local governments will sell a record $520 billion of debt in 2025, up from their previous forecast of $400 billion. Despite potential market volatility due to economic data and the US elections, positive factors such as well-controlled muni/Treasury ratios and compressing muni credit spreads are expected to support the municipal bond market. Issuance this year has already increased by 43% compared to the previous year, reaching $409 billion, with expectations that debt sales could surpass $500 billion in 2025 for the first time since at least 2013. [Extracted from the article]

Nike Inc. is shifting its focus to its outdoor business, All Conditions Gear (ACG), in search of new growth opportunities. The company's executives, Heidi O'Neill and Craig Williams, are investing more resources into the ACG division, with plans to expand globally. Details of the strategy for ACG have not been disclosed, but the business will concentrate on trail running and hiking gear. Nike's top executive in Greater China, Angela Dong, will lead the ACG division, with a particular focus on the Chinese market. Scott LeClair has been appointed as the vice president and general manager of the ACG division. The move into outdoor gear will put Nike in competition with brands like Patagonia, the North Face, and Arc'teryx. [Extracted from the article]

Nike Inc. has appointed Tom Peddie as the vice president and general manager for North America, replacing Scott Uzzell. Peddie, who recently returned to the company as its vice president of marketplace partners, will oversee Nike's North America business ahead of the arrival of new CEO Elliott Hill. Peddie's experience in developing an integrated marketplace and his relationships with retail partners will be crucial to Nike's future success. The company is working to rebuild relationships with traditional partners after prioritizing sales through its own retail channels. Nike shares have fallen 24% this year. [Extracted from the article]

Short-dated municipal bonds experienced a sell-off after a strong jobs report led investors to reassess the likelihood of further interest rate cuts by the Federal Reserve. Yields on three-month AAA municipal bonds increased by 29 basis points, the largest one-day jump since 2022, causing yields on ultra-short securities to surpass those of AAA municipal bonds maturing in 16 years. This deepened the inversion of the muni curve, which has been elevated for over two years. The market is reacting in line with US Treasuries, and expectations of less aggressive Fed rate cuts are impacting the front end of the muni curve. Longer-dated municipals have been outperforming compared to Treasuries, but this may be due to state and local debt lagging behind. JPMorgan Chase & Co. strategists anticipate that muni bonds will eventually follow the broader selloff in Treasuries, and the market is also facing increased supply ahead of the presidential election in November. [Extracted from the article]

Nike Inc. has withdrawn its full-year sales guidance and postponed its investor day in preparation for the arrival of new CEO Elliott Hill. Investors are looking to Hill to rebuild relationships with retailers, inspire staff, and accelerate the development of new products. Sales in the first quarter fell 10%, with declines in North America, Europe, Africa, and the Middle East. Nike expects revenue to fall 8-10% in the second quarter before improving later in the year. Hill, a Nike veteran, will take over as CEO on October 14, replacing John Donahoe. Nike is also focusing on performance sneakers and apparel, renewing its focus on soccer, fitness, and running. The company has been criticized for neglecting runners, and it is working to win back their market share. Nike executives have been meeting with retail partners and investing in their shops to regain their confidence. Despite the challenges, Nike remains committed to learning, adjusting, and improving. [Extracted from the article]

Nike Inc. reported lower-than-expected sales in the first quarter, highlighting the challenge that incoming CEO Elliott Hill will face. Revenue declined by 10% to $11.59 billion, just below analyst estimates. However, earnings per share exceeded expectations. Nike's gross margin improved and beat estimates, with the company citing lower costs and price adjustments. Despite the disappointing sales, investors are focused on Hill's strategy as they believe it will determine the future of Nike's stock. Hill, a Nike veteran, will take over as CEO on October 14, replacing John Donahoe. [Extracted from the article]

Nike Inc. has reported lower-than-expected quarterly sales, indicating a challenge for the incoming CEO, Elliott Hill. The company's revenue in the first quarter dropped by 10% to $11.59 billion, slightly below analyst estimates. Nike's shares rose in late New York trading, but have declined by 18% this year compared to a 20% gain for the S&P 500 Index. [Extracted from the article]

Nike Inc.'s new CEO, Elliott Hill, is facing significant challenges as he takes over the company. Nike is expected to report a 10% decline in sales, and its stock has been down 19%. However, many investors are looking past these numbers and focusing on Hill's strategy for the future. Hill, a Nike veteran, is replacing John Donahoe, who oversaw the company during a tumultuous year. Donahoe's focus on e-commerce led to a reduction in the flow of sneakers to retail partners, which created opportunities for competitors. Hill will need to rebuild relationships with retailers, regain the trust of staff, and accelerate innovation to bring new products to market. Nike's investor day is expected to be postponed to give Hill more time to develop a turnaround plan. [Extracted from the article]

Nike Inc. has withdrawn its full-year guidance after sales fell short of estimates, signaling a challenge for incoming CEO Elliott Hill. The company expects revenue to decline in the second quarter, similar to the previous period. Nike's shares fell 6.3% following the announcement. Hill will need to address rebuilding relationships with retailers, retaining staff, and accelerating product development. Despite the challenges, there were some positive aspects, such as better-than-expected sales in Greater China and higher gross margins. Investors are eagerly awaiting Hill's strategy to turn the company around. [Extracted from the article]

Columbia University is planning to borrow $500 million through the issuance of tax-exempt and taxable securities. The funds raised will be used for various campus projects, including dorm improvements, the addition of lab space, and upgrades to the medical center. This move follows a trend among elite colleges, with Ivy League schools alone selling nearly $3 billion in bonds this year. Columbia University has a strong demand profile, with a low admission rate and a substantial endowment, contributing to its top-tier credit rating. The bond sale is expected to take place on October 2nd. [Extracted from the article]

VF Corp, an apparel company, has hired Chris Goble, a former Gap Inc. executive, to lead its Dickies workwear brand. This is part of a series of leadership changes at VF Corp as it tries to recover from weak results. Goble's appointment is the ninth change made by VF Corp's CEO, Bracken Darrell, since joining the company in 2023. VF Corp's Dickies brand is refocusing on workwear after struggling with a shift towards fashion. In the three months leading up to June, Dickies' revenue fell 15%. Other brands owned by VF Corp, such as Vans, have also faced challenges. VF Corp's shares have seen a 1% increase this year. [Extracted from the article]

The popularity of wide-leg jeans has led to an increase in sales for brands like Gap, Madewell, and Lululemon. As shoppers gravitate towards smaller tops to balance out the wider bottoms, it has sparked additional purchases of other items. This trend is particularly significant for teens and young women, and it has contributed to the revival of consumer apparel retailers like Gap and Abercrombie & Fitch. Wide-leg jeans also have the potential to influence footwear fashion trends, with shoppers opting for more fashionable alternatives to sneakers. [Extracted from the article]

States and local governments are taking advantage of lower borrowing costs to refinance more debt, with municipal bonds sold for the purpose of refunding existing debt reaching over $66 billion so far this year. This represents a 75% increase compared to the same period in 2023 and accounts for nearly 20% of all state and local government debt sales. The reopening of this window for refinancing is beneficial for governments that have had limited opportunities since the Federal Reserve began raising interest rates in 2022. Major issuers in the municipal bond market, such as the Metropolitan Transportation Authority and the Chicago Transit Authority, are also looking to refinance for savings. Despite the high level of refinancing sales this year, issuance is expected to continue increasing into 2025. [Extracted from the article]

Nike CEO John Donahoe, who took over in 2020, has been criticized for his lack of knowledge about sneakers and his focus on cutting out middlemen to increase profit margins. Under Donahoe's leadership, Nike ended relationships with more than half of its retail partners and shifted its marketing strategy to online ads. However, this strategy has led to competitors like Adidas and Hoka gaining market share and customers realizing that Nike's designs are not as innovative as they once thought. After slashing its revenue forecast, Nike may need a change in leadership. [Extracted from the article]

Nike Inc. has replaced its CEO, John Donahoe, with veteran executive Elliott Hill in an effort to revive the struggling athletic brand. Hill, who originally joined Nike in 1988 and retired in 2020, will take over on October 14. Donahoe, who took over in 2020, will retire and remain an adviser through January. Nike has faced challenges this year, including falling sales and customer defections to competitors. Investors are hoping that the new regime will accelerate product development and release more groundbreaking sneaker technology. The decision to bring back a longtime executive reflects the company's desperation to reverse its sales slump. [Extracted from the article]

Nike has hired Elliott Hill as its new CEO, replacing John Donahoe. Hill, a Nike veteran, is coming out of retirement to take on the role. Nike has been facing challenges recently, including declining revenue and increased competition. Investors are optimistic about Hill's appointment, and the company's stock rose after the announcement. Hill is expected to address issues such as product innovation and relationships with retail partners. [Extracted from the article]

Elliott Hill, the newly appointed CEO of Nike, acknowledged the challenges that the company has faced in a message to staff. Hill, who has worked at Nike for over 30 years, emphasized the importance of putting the consumer at the center of decision-making and called for employees to come together as a team. The announcement of Hill's appointment came after disappointing fourth quarter results and a decline in the company's stock. Hill plans to host an all-hands meeting on October 14 and encouraged employees to reach out with their questions and concerns. [Extracted from the article]

Nike Inc. has replaced its CEO, John Donahoe, with longtime executive Elliott Hill in an effort to revive the struggling athletic brand. Hill, who originally joined Nike in 1988 and retired in 2020, will take over on October 14. Donahoe, who has faced criticism since Nike's revenue forecast was slashed in December, will retire on October 13 but remain an adviser until January 31. Nike's sales have declined as consumers have become less interested in its lifestyle sneakers, losing ground to competitors like On, Hoka, and Adidas. Investors hope that the new CEO will accelerate product development and release innovative sneaker technology to regain the brand's appeal. [Extracted from the article]

Nike Inc. has replaced CEO John Donahoe with veteran executive Elliott Hill in an effort to revive the struggling athletic brand. Hill, who originally joined Nike in 1988 and retired in 2020, will take over on October 14. Donahoe, who has been the face of Nike's downfall, will retire and remain an adviser through January. The decision to bring back a longtime executive reflects the company's desperation to reverse falling sales and customer defections. Investors are hoping that the new regime will accelerate product development and release more groundbreaking sneaker technology. [Extracted from the article]

US airports are experiencing a surge in travelers, leading to a borrowing boom to fund expansion projects. Airports in South Carolina, California, New York, and Florida are planning to tap into the municipal bond market to raise funds for renovation projects aimed at improving the passenger experience. The 10 largest US airports will require $55 billion to $75 billion in infrastructure improvements in the coming years. With lower borrowing costs and market volatility ahead of the US presidential election, airports are taking advantage of the opportunity to raise funds. [Extracted from the article]

JFK Millennium Partners, the developer behind the renovation of John F. Kennedy International Airport, is preparing for a $1.5 billion municipal bond sale next month. The funds will be used to refinance outstanding obligations from 2022, including bank loans and initial bonds issued with the Royal Bank of Canada. The developer is currently working on the construction of Terminal 6, which is expected to be 1.2 million square feet and cost $4.2 billion. The new terminal will feature food options such as Alidoro and Fuku, as well as touchless check-in technology and a taxi plaza. The municipal bonds will be sold through the New York Transportation Development Corporation and underwritten by a group led by Goldman Sachs and Siebert Williams Shank. [Extracted from the article]

Valparaiso University in Indiana has received court approval to sell three works of art, including a painting by Georgia O'Keeffe, to fund renovations for freshman dormitories. The university is facing a decline in enrollment and is unable to make investments to strengthen its programs. The decision to sell the paintings has faced backlash from the art world and the university community, but the university believes it is the best option for its financial future. The sale highlights the lack of financial resources available to the university. [Extracted from the article]

Nike Inc. will not be holding its annual "Just Do It Day" celebration at its headquarters in Oregon this year. Instead, the company will be hosting smaller festivals for employees at its offices worldwide. The event, known as JDI Day, has been a significant employee event for Nike since 2018, featuring celebrities and athletes. In place of the celebration, Nike will be organizing Fan Fest watch parties for sports tournaments and bringing in special-guest athletes to various locations. The decision was influenced by the Summer Olympics in Paris, where Nike had a significant presence. [Extracted from the article]

Gap Inc. exceeded sales expectations in the second quarter, with net sales rising 5% to $3.7 billion compared to the previous year. The company's CEO, Richard Dickson, has been credited with implementing successful changes within the company. Gap's gross margin and operating income guidance for the full year have been raised as a result of the strong second quarter results. Gap's shares rose 3% following the early release of the earnings results, which was attributed to an administrative error. Despite warnings from other retailers about a cautious consumer and slowed spending, Gap has not observed any significant differences in consumer patterns and has seen growth across all income cohorts. The company's biggest brand, Old Navy, saw faster-than-expected sales growth, while Banana Republic and Athleta experienced slower progress. Gap expects Athleta to return to sales growth for the remainder of the year. [Extracted from the article]

Kohl's Corp. has raised its full-year profit outlook due to cost-cutting measures and reduced inventory levels. The company now expects adjusted earnings per share of up to $2.25, surpassing Wall Street's expectations. However, Kohl's has experienced a tenth consecutive quarter of declining sales and has lowered its comparable sales guidance. The retailer plans to emphasize lower prices in its marketing message to accommodate customers who are facing higher living costs. Kohl's shares rose 6.2% following the announcement. The company has struggled to attract shoppers despite frequent discounts and promotions, and its tie-ups with brands like Sephora and Babies"R"Us have had mixed success. [Extracted from the article]

Abercrombie & Fitch Co. has exceeded analysts' sales expectations for the sixth consecutive quarter, with comparable sales rising 18% in the second quarter. However, investors were not impressed, causing the company's stock to fall 11%. Despite this, Abercrombie has been successful in attracting Gen Z and millennial adults with its denim offerings and weekly drops of new items. The company's CEO, Fran Horowitz, acknowledged the uncertain retail environment but raised the full-year sales outlook. [Extracted from the article]

Abercrombie & Fitch Co. has surpassed analysts' sales expectations for the sixth quarter in a row, with comparable sales increasing by 18% in the second quarter. Despite this positive performance, investors were not satisfied due to the stock's significant increase in value this year. The company's success can be attributed to its appeal to Gen Z and millennial adults through its denim offerings, wedding shop, and regular release of new items. Sales at Abercrombie have remained strong even as consumers cut back on discretionary spending. [Extracted from the article]

Nordstrom Inc. has provided a more positive outlook for its sales this year, thanks to strong performance at its discount chain. The department store operator now expects comparable sales to be flat to rising 2%, up from its previous projection of down 1% to up 2%. Sales at Nordstrom's Rack chain increased by nearly 9%, surpassing market expectations. This shift towards off-price retailers is driven by high inflation and interest rates, with consumers seeking better deals. Nordstrom's shares rose 9.7% following the announcement. [Extracted from the article]

Crayola, the arts and crafts giant, has been granted a trademark by the US Patent and Trademark Office for the smell of its crayons. The company first applied for the trademark in 2018 and won its bid on appeal after initially being turned down. Crayola hopes to use the trademarked scent to trigger nostalgia and increase sales, particularly during the back-to-school season. The trademark documents describe the smell as a "slightly earthy soap with pungent, leather-like clay undertones." Crayola is the top-selling brand in the coloring category in the US. [Extracted from the article]

CEOs of major companies like Starbucks and Victoria's Secret are increasingly choosing to live in different cities or states than their company headquarters, even as employees are being required to return to the office. For example, Starbucks' new CEO, Brian Niccol, will not be required to move to Seattle, where the company is based, but will spend much of his time there and have a remote office in California. Similarly, Victoria's Secret's new CEO, Hillary Super, will be moving from California to New York for her role. This trend of remote leadership is in contrast to many employees who are being mandated to return to the office. [Extracted from the article]

Victoria's Secret has hired Hillary Super, the CEO of Rihanna's lingerie brand Savage X Fenty, to lead the struggling retailer's turnaround. Super will replace Martin Waters as CEO and bring nearly three decades of retail experience to the position. Victoria's Secret has been facing challenges such as declining demand, increased competition, and allegations of workplace misconduct. Super's appointment has been met with optimism, and the company's stock rose more than 15% in response. This move also contributes to the increasing number of female CEOs in the US. [Extracted from the article]

Victoria's Secret has hired Hillary Super, the CEO of Rihanna's lingerie brand Savage X Fenty, to lead the struggling retailer's turnaround. Super will replace Martin Waters as CEO and brings nearly three decades of retail experience to the role. Victoria's Secret has been facing challenges such as declining demand, increased competition, and allegations of workplace misconduct. Super will be the third CEO in four years for the company. The stock has performed poorly since its debut, and the company expects sales to be down in the second quarter. [Extracted from the article]

The CEO of VF Corp, the owner of Vans, has stated that the company's turnaround efforts are starting to show positive results. After a period of contraction and weakness across its segments, VF Corp has made changes such as selling off the Supreme streetwear brand and closing unprofitable Vans stores. The company's debt has also been reduced, and while sales are still falling, the decline rates for its biggest brands are starting to come down. Investors have responded positively to the news, with the company's shares experiencing a 7.1% increase. However, some analysts remain cautious about the company's debt and the competitive environment. [Extracted from the article]