Target zeroes in on exercise fanatics

Target's athletic wear line, C9 by Champion, is opening its first stand-alone store in San Francisco, Ca., on Sunday.

NEW YORK (CNNMoney) -- Sports bras. Yoga pants. Spandex shorts. Athletic wear is everywhere.

Just ask Target. The cheap-chic retailer is opening a standalone store for its athletic line C9 on Sunday in San Francisco.

C9 has been a runaway hit for Target (TGT, Fortune 500). Eight years ago, C9 was just a line of sports bras made by sportswear manufacturer Champion. Today, C9 makes running shoes, snow pants, and sweatshirts for men, women and children. It also rakes in a billion dollars annually.

That puts it in the same league as the trendy yoga apparel maker Lululemon (LULU). Maker of the best selling $100 yoga pants called Lulus, the company has had one of the hottest stocks this year with a 57% gain, and expects to rake in $1.3 billion in annual sales. Compared to Lulus, C9's premium yoga pants will be priced at $40.

Related: Lululemon CEO: How to build trust inside your company

In a way, Target is following in the footsteps of rival Gap (GPS, Fortune 500), which also runs 28 standalone stores for its sportswear brand Athleta.

Athletic apparel has exploded in recent years, partly because of the focus on healthier, active lifestyles. From First Lady Michelle Obama's "Let's Move" initiative to New York Mayor Michael Bloomberg's attack on sugar-rich sodas, there's been a concerted move from public personalities to push for healthy living.

Active wear has also become part of many people's everyday wardrobes. More people are embracing yoga pants and hoodies in and out of the gym. Women's active wear alone has doubled in the last 10 years to a $14 billion industry, according to research firm the NPD Group. It is expected to grow 9% this year.

"It's one of the few categories in all of fashion, and all of retail, that has been consistently doing well," said Marshal Cohen, chief industry analyst at the NPD Group.

Cohen points out that active wear is one of the few lines of clothing that is constantly improving because of new technology, like moisture-wicking fabric and hidden pockets for keys. With exercise, also comes a lot of wear-and-tear, which means they need to be replaced more often.

Cohen expects growth for athletic wear to come in at lower price points, which could be a boon for Target. It already sells its C9 line in its 1,700 stores as well as on Target.com

Target said it didn't have plans to open more C9 stores yet.

"We'll take cues from our customers," said Joshua Thomas, a Target spokesman.

First Published: October 12, 2012: 5:48 PM ET

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Treasury delays report that could hit China on currency

China's yuan has risen against the dollar in the past few years.

NEW YORK (CNNMoney) -- The Treasury Department said Friday that it was delaying the release of a report on international exchange rates that often contains criticism of China's currency policies.

The semi-annual report, originally due next week, is frequently delayed. It will now be published at some point after the G20 Finance Ministers meet in Mexico City early next month, the Treasury Department said, meaning it likely will come after the presidential election on Nov. 6.

Earlier versions of the Treasury report have criticized China for intervening in the foreign exchange market to depress the value of its currency, the yuan. But the Obama Administration has stopped short of formally designating China a currency manipulator, a move that could lead to trade sanctions.

Related: Will China's auto boycott backfire?

Republican presidential candidate Mitt Romney has vowed to take this step should he win the election, a move sure to increase tensions in the already rocky economic relationship between China and the U.S.

The Treasury Department announced the report's delay on a day when the yuan reached its highest level against the dollar since 1994, when China first introduced its modern currency-trading system, according to Dow Jones. In the last edition of the report, published in May, Treasury credited China with "allowing necessary external adjustments to take place" to boost the yuan's value, though it urged Beijing to do more.

Although the Obama administration has avoided action on the yuan directly, it has filed trade cases against China over exports of rare earth minerals and auto parts, and has introduced tariffs on Chinese-made solar panels.

First Published: October 12, 2012: 6:49 PM ET

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New $100 bills stolen en route to Fed facility

NEW YORK (CNNMoney) -- Unknown thieves stole a "large amount" of newly-designed $100 bills bound for a Federal Reserve facility in New Jersey on Thursday, the FBI said.

Frank Burton, Jr., spokesman for the FBI's Philadelphia division, said the theft occurred at some point between when the shipment of bills landed at the Philadelphia airport on a commercial flight from Dallas at 10:20 Thursday morning, and when the shipment reached its New Jersey destination around 2:00 p.m., when the courier service transporting the bills reported some missing.

Burton declined to comment on the amount taken, but said it was substantial.

Related: 91 charged with Medicare fraud

"We're following all logical leads," he said

The missing bills carry a design that is not slated to reach circulation until 2013. They feature a large gold "100" graphic on the back, and an orange box on the front with a faint image of the Liberty Bell.

First Published: October 12, 2012: 7:40 PM ET

15.30 | 0 komentar | Read More

Target zeroes in on exercise fanatics

Target's athletic wear line, C9 by Champion, is opening its first stand-alone store in San Francisco, Ca., on Sunday.

NEW YORK (CNNMoney) -- Sports bras. Yoga pants. Spandex shorts. Athletic wear is everywhere.

Just ask Target. The cheap-chic retailer is opening a standalone store for its athletic line C9 on Sunday in San Francisco.

C9 has been a runaway hit for Target (TGT, Fortune 500). Eight years ago, C9 was just a line of sports bras made by sportswear manufacturer Champion. Today, C9 makes running shoes, snow pants, and sweatshirts for men, women and children. It also rakes in a billion dollars annually.

That puts it in the same league as the trendy yoga apparel maker Lululemon (LULU). Maker of the best selling $100 yoga pants called Lulus, the company has had one of the hottest stocks this year with a 57% gain, and expects to rake in $1.3 billion in annual sales. Compared to Lulus, C9's premium yoga pants will be priced at $40.

Related: Lululemon CEO: How to build trust inside your company

In a way, Target is following in the footsteps of rival Gap (GPS, Fortune 500), which also runs 28 standalone stores for its sportswear brand Athleta.

Athletic apparel has exploded in recent years, partly because of the focus on healthier, active lifestyles. From First Lady Michelle Obama's "Let's Move" initiative to New York Mayor Michael Bloomberg's attack on sugar-rich sodas, there's been a concerted move from public personalities to push for healthy living.

Active wear has also become part of many people's everyday wardrobes. More people are embracing yoga pants and hoodies in and out of the gym. Women's active wear alone has doubled in the last 10 years to a $14 billion industry, according to research firm the NPD Group. It is expected to grow 9% this year.

"It's one of the few categories in all of fashion, and all of retail, that has been consistently doing well," said Marshal Cohen, chief industry analyst at the NPD Group.

Cohen points out that active wear is one of the few lines of clothing that is constantly improving because of new technology, like moisture-wicking fabric and hidden pockets for keys. With exercise, also comes a lot of wear-and-tear, which means they need to be replaced more often.

Cohen expects growth for athletic wear to come in at lower price points, which could be a boon for Target. It already sells its C9 line in its 1,700 stores as well as on Target.com

Target said it didn't have plans to open more C9 stores yet.

"We'll take cues from our customers," said Joshua Thomas, a Target spokesman.

First Published: October 12, 2012: 5:48 PM ET

17.42 | 0 komentar | Read More

Treasury delays report that could hit China on currency

China's yuan has risen against the dollar in the past few years.

NEW YORK (CNNMoney) -- The Treasury Department said Friday that it was delaying the release of a report on international exchange rates that often contains criticism of China's currency policies.

The semi-annual report, originally due next week, is frequently delayed. It will now be published at some point after the G20 Finance Ministers meet in Mexico City early next month, the Treasury Department said, meaning it likely will come after the presidential election on Nov. 6.

Earlier versions of the Treasury report have criticized China for intervening in the foreign exchange market to depress the value of its currency, the yuan. But the Obama Administration has stopped short of formally designating China a currency manipulator, a move that could lead to trade sanctions.

Related: Will China's auto boycott backfire?

Republican presidential candidate Mitt Romney has vowed to take this step should he win the election, a move sure to increase tensions in the already rocky economic relationship between China and the U.S.

The Treasury Department announced the report's delay on a day when the yuan reached its highest level against the dollar since 1994, when China first introduced its modern currency-trading system, according to Dow Jones. In the last edition of the report, published in May, Treasury credited China with "allowing necessary external adjustments to take place" to boost the yuan's value, though it urged Beijing to do more.

Although the Obama administration has avoided action on the yuan directly, it has filed trade cases against China over exports of rare earth minerals and auto parts, and has introduced tariffs on Chinese-made solar panels.

First Published: October 12, 2012: 6:49 PM ET

17.42 | 0 komentar | Read More

New $100 bills stolen en route to Fed facility

NEW YORK (CNNMoney) -- Unknown thieves stole a "large amount" of newly-designed $100 bills bound for a Federal Reserve facility in New Jersey on Thursday, the FBI said.

Frank Burton, Jr., spokesman for the FBI's Philadelphia division, said the theft occurred at some point between when the shipment of bills landed at the Philadelphia airport on a commercial flight from Dallas at 10:20 Thursday morning, and when the shipment reached its New Jersey destination around 2:00 p.m., when the courier service transporting the bills reported some missing.

Burton declined to comment on the amount taken, but said it was substantial.

Related: 91 charged with Medicare fraud

"We're following all logical leads," he said

The missing bills carry a design that is not slated to reach circulation until 2013. They feature a large gold "100" graphic on the back, and an orange box on the front with a faint image of the Liberty Bell.

First Published: October 12, 2012: 7:40 PM ET

17.42 | 0 komentar | Read More

Target zeroes in on exercise fanatics

Target's athletic wear line, C9 by Champion, is opening its first stand-alone store in San Francisco, Ca., on Sunday.

NEW YORK (CNNMoney) -- Sports bras. Yoga pants. Spandex shorts. Athletic wear is everywhere.

Just ask Target. The cheap-chic retailer is opening a standalone store for its athletic line C9 on Sunday in San Francisco.

C9 has been a runaway hit for Target (TGT, Fortune 500). Eight years ago, C9 was just a line of sports bras made by sportswear manufacturer Champion. Today, C9 makes running shoes, snow pants, and sweatshirts for men, women and children. It also rakes in a billion dollars annually.

That puts it in the same league as the trendy yoga apparel maker Lululemon (LULU). Maker of the best selling $100 yoga pants called Lulus, the company has had one of the hottest stocks this year with a 57% gain, and expects to rake in $1.3 billion in annual sales. Compared to Lulus, C9's premium yoga pants will be priced at $40.

Related: Lululemon CEO: How to build trust inside your company

In a way, Target is following in the footsteps of rival Gap (GPS, Fortune 500), which also runs 28 standalone stores for its sportswear brand Athleta.

Athletic apparel has exploded in recent years, partly because of the focus on healthier, active lifestyles. From First Lady Michelle Obama's "Let's Move" initiative to New York Mayor Michael Bloomberg's attack on sugar-rich sodas, there's been a concerted move from public personalities to push for healthy living.

Active wear has also become part of many people's everyday wardrobes. More people are embracing yoga pants and hoodies in and out of the gym. Women's active wear alone has doubled in the last 10 years to a $14 billion industry, according to research firm the NPD Group. It is expected to grow 9% this year.

"It's one of the few categories in all of fashion, and all of retail, that has been consistently doing well," said Marshal Cohen, chief industry analyst at the NPD Group.

Cohen points out that active wear is one of the few lines of clothing that is constantly improving because of new technology, like moisture-wicking fabric and hidden pockets for keys. With exercise, also comes a lot of wear-and-tear, which means they need to be replaced more often.

Cohen expects growth for athletic wear to come in at lower price points, which could be a boon for Target. It already sells its C9 line in its 1,700 stores as well as on Target.com

Target said it didn't have plans to open more C9 stores yet.

"We'll take cues from our customers," said Joshua Thomas, a Target spokesman.

First Published: October 12, 2012: 5:48 PM ET

15.30 | 0 komentar | Read More

Treasury delays report that could hit China on currency

China's yuan has risen against the dollar in the past few years.

NEW YORK (CNNMoney) -- The Treasury Department said Friday that it was delaying the release of a report on international exchange rates that often contains criticism of China's currency policies.

The semi-annual report, originally due next week, is frequently delayed. It will now be published at some point after the G20 Finance Ministers meet in Mexico City early next month, the Treasury Department said, meaning it likely will come after the presidential election on Nov. 6.

Earlier versions of the Treasury report have criticized China for intervening in the foreign exchange market to depress the value of its currency, the yuan. But the Obama Administration has stopped short of formally designating China a currency manipulator, a move that could lead to trade sanctions.

Related: Will China's auto boycott backfire?

Republican presidential candidate Mitt Romney has vowed to take this step should he win the election, a move sure to increase tensions in the already rocky economic relationship between China and the U.S.

The Treasury Department announced the report's delay on a day when the yuan reached its highest level against the dollar since 1994, when China first introduced its modern currency-trading system, according to Dow Jones. In the last edition of the report, published in May, Treasury credited China with "allowing necessary external adjustments to take place" to boost the yuan's value, though it urged Beijing to do more.

Although the Obama administration has avoided action on the yuan directly, it has filed trade cases against China over exports of rare earth minerals and auto parts, and has introduced tariffs on Chinese-made solar panels.

First Published: October 12, 2012: 6:49 PM ET

15.30 | 0 komentar | Read More

New $100 bills stolen en route to Fed facility

NEW YORK (CNNMoney) -- Unknown thieves stole a "large amount" of newly-designed $100 bills bound for a Federal Reserve facility in New Jersey on Thursday, the FBI said.

Frank Burton, Jr., spokesman for the FBI's Philadelphia division, said the theft occurred at some point between when the shipment of bills landed at the Philadelphia airport on a commercial flight from Dallas at 10:20 Thursday morning, and when the shipment reached its New Jersey destination around 2:00 p.m., when the courier service transporting the bills reported some missing.

Burton declined to comment on the amount taken, but said it was substantial.

Related: 91 charged with Medicare fraud

"We're following all logical leads," he said

The missing bills carry a design that is not slated to reach circulation until 2013. They feature a large gold "100" graphic on the back, and an orange box on the front with a faint image of the Liberty Bell.

First Published: October 12, 2012: 7:40 PM ET

15.30 | 0 komentar | Read More

The facts behind Romney's $5 trillion tax plan

NEW YORK (CNNMoney) -- Mitt Romney promises to pay for his $5 trillion in proposed tax cuts so they don't add to deficits -- and would do so in large part by curbing tax breaks on the rich.

He also has promised not to raise taxes on the middle class.

"Not mathematically possible," Vice President Joe Biden said during the vice presidential debate on Thursday.

Romney's plan would give a big tax cut to the wealthy and hike taxes $2,000 for middle-income folks with kids, Biden added.

Paul Ryan, Romney's running mate, shot back: "It is mathematically possible."

The country forgoes about $1.1 trillion in tax breaks a year, Ryan said. "Deny those loopholes and deductions to higher-income taxpayers so that more of their income is taxed, so we can lower tax rates across the board."

That's what the two sides are saying. The reality is far more complicated.

Where does the $5 trillion come from? Romney wants to cut everyone's income tax rates by 20%, slash the corporate tax rate even more, repeal the Alternative Minimum Tax and make investments tax-free for those making less than $100,000 ($200,000 if married).

The independent Tax Policy Center has estimated that Romney's plan could reduce revenue by roughly $500 billion a year on average -- or $5 trillion over a decade. Of that, an estimated $340 billion a year is due to his proposals to reduce tax rates and repeal the AMT. (Related: No tax cuts for the rich)

Those numbers are relative to how much revenue the country would raise if the Bush tax cuts, which expire at the end of the year, are extended.

How much money could Romney raise by curbing tax breaks? It depends which ones he trims and how he does it. Romney has spoken of some "options."

Among them, capping itemized deductions. He's suggested anywhere from $17,000 to $50,000 for a cap.

But capping itemized deductions alone won't come close to paying for $5 trillion in tax cuts. All told, people who itemized last year saved $147 billion without being restricted by a cap.

Another reason: Some of the most expensive tax breaks are not itemized deductions.

The Romney campaign told CNNMoney that a deduction cap would be just one part of a broader strategy to curb tax breaks. Other elements would include limits on personal exemptions and the tax-free benefit workers get when employers pay for their health insurance.

That last one is often the biggest tax break in any given year. In 2014, it will reduce federal revenue by an estimated $164 billion, according to the Congressional Research Service.

But Romney has flatly ruled out curbing some other big tax breaks. One example is the low capital gains rate, which disproportionately benefits the rich. That tax break is forecast to cost $71 billion in 2014.

Tax and budget experts note that it's possible to pay for lower rates without hurting the middle class, but only if one is willing to put all the tax breaks that affect higher income households on the table.

Would the middle class face a $2,000 tax hike under Romney? Without more specifics, it's impossible to say how Romney's plan would affect the middle class.

The $2,000 tax hike assertion that Biden made comes from a Tax Policy Center estimate based on certain assumptions about how tax breaks would be curbed.

Specifically, if tax breaks were reduced across-the-board by 58% for households making less than $200,000, and are eliminated entirely for anyone making more than that, then taxpayers with children making less than $200,000 would pay, on average, $2,000 more in taxes.

But, as the Tax Policy Center and others that dispute its estimates have pointed out, different assumptions can lead to a different conclusion.

Can't economic growth help pay for the tax cuts? Yes, but it's impossible to know by how much.

For one thing, it matters how quickly one assumes the economy will grow.

And tax reform is just one element that can affect the economy. There's no guarantee others might not be working against it when reform is implemented.

First Published: October 12, 2012: 1:18 AM ET

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