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Champion is phasing out an exclusive line at Target and Wall Street isn't pleased.Hanesbrands, the parent of Hanes, Champion, Maidenform and Playtex, plunged 19% on Wednesday after it told investors that it would end a longtime deal with Target.The company reported that its profit last quarter fell 18% from the same time last year because costs and expenses both grew, adding to the stock selloff.Hanesbrands has partnered with Target, selling the C9 by Champion men's, women's and children's activewear clothing and shoe brand for 15 years. But the company won't renew its contract for the line with Target when it expires in early 2020.Once the deal lapses, Hanesbrands will still sell clothes there. The retailer accounted for 13% of the company's .4 billion in sales last year and was the biggest customer in its activewear business. Target was Hanesbrands' second largest buyer overall behind Walmart.C9 has been a big cash driver for Hanesbrands, raking in 0 million in sales over the last 12 months. The line also includes sports equipment and extends to plus-size shoppers and pregnant women.Champion is the company's second-largest brand behind Hanes, and it has been growing as it heads to retailers in new markets, including Europe and Asia. Champion has benefited from partnerships with designers and brands like Supreme."Consumers are demanding brands with athletic authenticity," CEO Gerald Evans told analysts on a call Wednesday. "We have driven a brand elevation strategy for Champion to capitalize on these consumer dynamics."The brand's global sales grew 18% last quarter, and Hanesbrands projects Champion will reach more than billion in sales by 2022.Although the company said ending the C9 contract with Target won't affect its long-term forecast for Champion, analysts grilled Hanesbrands executives for answers on why the deal expired and how it planned to replace C9 sales.Evans said Hanesbrands hasn't determined whether it will end the line after 2020, but he left the door open to continuing C9 at another retailer: "There is equity in that brand."One analyst on the call, Doug Thomas at Gamco Investors, believed Target made a mistake by walking away from C9."I just feel like Target must be really out of touch with maybe their core consumers," he said. "This is the time in my view— and I guess a lot of other people's view— to redouble their commitment to Champion." 2416
CAMPO, Calif. (KGTV) -- Crews were able to stop the forward rate of spread after a fast-moving brush fire sparked in Campo Sunday afternoon. According to the agency, the fire started around 1:30 p.m. in the area of I-8 and Old Highway 80. Cal Fire originally said the blaze had a rapid rate of spread with structures threatened. Crews later said the forward rate of spread had been stopped at 1.5 acres. "Ground resources remain at scene to mop-up and construct containment lines," the ageny said. .@CALFIRESANDIEGO and cooperators are at scene of a 1 acre vegetation fire in the area of I-8 and Old Hwy 80 in Campo. First in resources report a rapid rate of spread with structures threatened.#CrestwoodIC pic.twitter.com/RxNEOQXsYW— CAL FIRE/SAN DIEGO COUNTY FIRE (@CALFIRESANDIEGO) July 14, 2019 806
Canada is the latest country to approve a COVID-19 vaccine candidate made by Pfizer and BioNTech, according to ABC News and the Washington Post.On Monday, Prime Minister Justin Trudeau announced that the vaccine would arrive in Canada next week and that doses would be distributed at that time.The FDA is expected to meet tomorrow to discuss granting Emergency Use Authorization to the Pfizer vaccine. Approval is expected, and Americans may begin receiving doses as soon as next week.The drug has already been administered to some patients in the United Kingdom, who approved the vaccine for emergency use last week. On Wednesday, officials announced that two people with extensive histories with allergies had suffered "adverse effects" from the injections, but both patients are expected to be OK. Officials in the U.K. are now advising patients with similar histories of extreme allergic reactions to not get vaccinated for the time being.Initial efficacy studies showed the Pfizer vaccine to be 95% effective in preventing COVID-19, without serious side effects.A vaccine candidate made by Moderna is also on the precipice of receiving widespread approval from several major western countries. 1206
Bulked-up, mutant “mighty mice” held onto their muscle during a monthlong stay at the International Space Station, returning to Earth with ripped bodybuilder physiques, scientists reported Monday.The findings hold promise for preventing muscle and bone loss in astronauts on prolonged space trips like Mars missions, as well as people on Earth who are confined to bed or need wheelchairs.A research team led by Dr. Se-Jin Lee of the Jackson Laboratory in Connecticut sent 40 young female black mice to the space station in December, launching aboard a SpaceX rocket.In a paper published in the Proceedings of the National Academy of Sciences, Lee said the 24 regular untreated mice lost considerable muscle and bone mass in weightlessness as expected — up to 18%.But the eight genetically engineered “mighty mice” launched with double the muscle maintained their bulk. Their muscles appeared to be comparable to similar “mighty mice” that stayed behind at NASA’s Kennedy Space Center.In addition, eight normal mice that received “mighty mouse” treatment in space returned to Earth with dramatically bigger muscles. The treatment involves blocking a pair of proteins that typically limit muscle mass.A SpaceX capsule brought all 40 mice back in good condition, parachuting into the Pacific off the California coast in January. Some of the ordinary mice were injected with the “mighty mice” drug after returning and quickly built up more muscle than their untreated companions, Lee said.The scientists completed the experiment just as the coronavirus was hitting the U.S.“The only silver lining of COVID is that we had time to write it up very intensively” and submit the results for publication, said Dr. Emily Germain-Lee of Connecticut Children’s Medical Center, Lee’s wife who also took part in the study. Both are affiliated with the University of Connecticut.While encouraged by their findings, the couple said much more work needs to be done before testing the drug on people to build up muscle and bone, without serious side effects.“We’re years away. But that’s how everything is when you go from mouse to human studies,” Germain-Lee said.Lee said the experiment pointed out other molecules and signaling pathways worth investigating — “an embarrassment of riches ... so many things we’d like to pursue.” His next step: possibly sending more “mighty mice” to the space station for an even longer stay.Three NASA astronauts looked after the space mice, performing body scans and injections: Christina Koch and Jessica Meir, who performed the first all-female spacewalk last fall, and Andrew Morgan. They are listed as co-authors.___The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content. 2835
Cardinal George Pell is set for a tense wait for a decision over whether an abuse case against him will proceed to full criminal trial in Australia when the committal hearing against him wraps up this week.The Vatican treasurer is the most senior figure in the Holy See to ever face criminal charges, and the past three weeks of evidence has revealed details of multiple allegations of historical sexual abuse.The 76-year-old Cardinal, who stood aside from his senior post in Rome when he was charged in June last year, will not hear a final decision from the magistrate on whether the case will proceed to trial for up to two weeks, possibly longer. He has strenuously denied all charges.This week the remaining 50 witnesses will give testimony at Melbourne Magistrates Court where the case against Pell has been heard since early March.When the hearing closes Thursday, submissions will be made by both Pell's defense team and the prosecution for the magistrate to assess. 982