Trading Partners

New York -- Macy’s CEO and chairman Terry Lundgren is talking about why the department store giant decided to stop carrying Donald Trump’s menswear collection.

In a report on CNBC, Lundgren said the decision was a business one.

At a time when the Chinese currency is being devalued and Macy’s financial results are disappointing investors, the company is forming an exclusive partnership with Alibaba.

Target is teaming up with Canadian footwear chain Aldo on a new range of shoes and accessories, according to a report from Footwear News.

The publication says the new collection will be called A+, is inspired by the Aldo brand, and will launch at all Target stores this month. 

In addition to partnerships with Stride Rite and Steve Madden, the publication says Target will continue to explore other shoe partnerships.

Aldo Group operates 1,900 stores in 94 countries. 

New York -- Starbucks founder and CEO Howard Schultz says he is not running for President, but that doesn’t mean he is satisfied with the state of politics in American.

Hangzhou, China – Alibaba Holding Group Inc. is tapping a former longtime partner at Goldman Sachs to oversee the online giant’s international growth.

Michael Evans, who is also a member of the Alibaba board, has been named president of Alibaba Group, effective immediately.

Arlington, Va. – The nation’s leading retail associations have joined together supporting legislation to combat cyber threats.

Pittsburgh – GNC Holdings Inc. is making moves to both buy stock and sell convertible notes.

The retailer has authorized a multi-year program to repurchase up to $500 million of its Class A common stock.

The authorization is in addition to the company's previous authorization, which currently has $242 million remaining. The repurchases are expected to take place during the next 24 months with the amount and timing determined by GNC.

Canton, Mass. -- A Rockport veteran is returning to head up the company he left more than 30 years ago.

On Monday, investment firm Berkshire Partners and New Balance Holding completed their acquisition of The Rockport Company from the Adidas Group. As part of the transaction, New Balance affiliate Drydock Footwear will join with Rockport to form The Rockport Group. Bob Infantino was named CEO of the reorganized company.