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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

CARLSBAD, Calif. (KGTV) — Prosecutors Wednesday say two transients accused of a deadly home invasion robbery this week stabbed the victim 50 times in the face, neck, and back.Ian Bushee, 37, and Malissa James, 26, are both accused of breaking into a home in the 1800 block of Outrigger Lane just after midnight Monday. During the break-in the victim, identified as 63-year-old Marjorie Gawitt, was stabbed multiple times.Gawitt was still able to call 911 to report the incident and was conscious and breathing when police arrived. She was taken to Scripps La Jolla Hospital, where she died of her injuries.RELATED: Police identify suspects in deadly Carlsbad stabbing, burglaryBushee and James fled the scene in Gawitt's vehicle, according to police. The vehicle was found in San Marcos and the two were arrested in the 4800 block of Park Drive later Monday.Each has been charged with homicide, burglary, conspiracy, and auto theft. Bushee was also charged with accessory after the fact. James also also charged with torture. The pair was already on probation in San Bernardino for residential burglary.Both defendants pleaded not guilty of all charges.Bail was not set for Bushee or James, as they were determined to be a threat to the community.Both face the death penalty. A readiness hearing is scheduled for March 21, and a preliminary hearing is set for March 27. 1377

California's Camp Fire didn't just kill dozens of people and destroy thousands of homes. It also left an insurance company in financial ruins, unable to pay millions of dollars to policyholders.A state judge ruled that Merced Property & Casualty Co. can't meet its obligations after last month's Camp Fire, the deadliest and most destructive wildfire in California history.Merced's assets are about million, but it faced about million in outstanding liabilities just in the city of Paradise, court filings show.Judge Brian McCabe's decision allows the California Department of Insurance to take control of Merced. According to court documents, the state's Conservation & Liquidation Office will start liquidating what's left of the company.Photos: Wildfires devastation in CaliforniaUnlike with bankruptcy, where a business or individual can start over, liquidation means there is no hope for a company's recovery.Fortunately for Merced's policyholders, they are covered by the California Insurance Guarantee Association, which "protects resident claimants in the event of an insurance company insolvency."But the association has maximum benefit limitations, according to Merced."If it ends up that you have a claim in excess of CIGA's limits," the company said, "the excess will be a claim against the assets of Merced." 1337

Chicago police announced at a Monday morning news conference that 66 people were shot, 12 of them fatally, between Friday at 6 p.m. and Sunday at 11:59 p.m.Chicago Police Superintendent Eddie T. Johnson said it was "no secret that we had an unacceptably violent weekend," at the news conference.In three hours beginning at 1:30 a.m. Sunday, records show, 30 people were shot and two killed in 10 incidents. In all, over the weekend, there were 33 shooting incidents. Fourteen juveniles were shot, and an 11- and 13-year-old were killed."The city of Chicago experienced a violent night," Bureau of Patrol Chief Fred Waller said Sunday afternoon. "Some of these instances were targeted and were related to gang conflicts in those areas."In at least one incident, shooters opened fire into a crowded street party, Waller said.Johnson said the issue stemmed from a small group of people such as repeat gun offenders."This isn't a widespread issue among citizens of this city. This is a small subset of individuals who think they can play by their own rules because they continue to get a slap on the wrist when we arrest them," Johnson said."I'm tired of it. Everybody in this city should be tired of it."Johnson said 46 people were arrested this weekend on gun charges, and 60 guns were seized as a result of ongoing investigations. However, he said there have been no arrests made in connection with any violence from this weekend.Experts say crime tends to pick up during the hot summer months, but Chicago Mayor Rahm Emanuel dismissed that."You can talk about the weather, but the weather didn't pull the trigger," he said. "You can talk about jobs, and they count, but in parts of the city where there aren't jobs, people did not pull the trigger."There are values. There are too many guns on the street, too many people with criminal records on the street, and there is a shortage of values about what is right and what is wrong," he added.Of the wounded who reported an age, the oldest was 62 and the youngest 11, police records show.Before the particularly violent Sunday, there were six shootings, none fatal, on Friday, and 15 shootings, one fatal, on Saturday. The Sunday shootings occurred between midnight and 2 p.m., records show.Chicago has struggled with high shooting and murder rates in recent years. Waller said shootings are down 30 percent from 2017, and murders are down 25 percent.June marked 15 straight months of fewer killings and shootings, police said. However, on June 25, at least 21 were shot and two died.Johnson said that both murders and shootings are down on the year, but said this weekend showed there was still a lot to do."Despite what we saw this weekend, I'm still pleased between CPD's work, the mayor's investments, and the work of our community members, that we're still reducing our gun violence this year," Johnson said. "But we still have a lot more work to do, and I think that was evidenced by this weekend." 2966

Caitlyn Jenner says she made a "mistake" in thinking she could work with President Donald Trump to benefit the LGBQT community and is now no longer a Trump supporter.In a Washington Post op-ed published Thursday, Jenner said at first she believed she could work with Trump and Republicans to change the party's stance on LGBQT issues."Sadly, I was wrong," Jenner wrote, adding, "The reality is that the trans community is being relentlessly attacked by this president."She argued that Trump "has shown no regard for an already marginalized and struggling community.""Believing that I could work with Trump and his administration to support our community was a mistake," Jenner wrote.She pointed to a New York Times report that the Department of Health and Human Services has a draft proposal to define gender under Title IX as solely male or female at birth, with no room for change.Jenner said her hope in Trump and Republicans was "misplaced" and that she "cannot support anyone who is working against our community.""I do not support Trump," she wrote. "I must learn from my mistakes and move forward."Over three years ago, the famed US Olympian came out as transgender in an interview with ABC's Diane Sawyer. Jenner voted for Trump in the 2016 presidential election and told E! in an interview Trump "would be very good for women's issues."However, Jenner began criticizing the President after the Trump administration announced a ban on transgender people serving in the military and withdrew Obama era guidance for transgender students in public schools that let them use bathrooms and facilities corresponding with their gender identity.The-CNN-Wire 1665