FINANCE

Target Corp. and Best Buy didn't just talk the talk when it came to killing a border adjustment tax on imports that was the centerpiece of House Republicans tax reform plan.    In the first six months of 2017, Best Buy spent $1.71 million in lobbying efforts, twice as much as it spent the entire year in 2016, the Star Tribune reported. Target Corp. spent $1.48 million lobbying from January through June 2017, which was slightly less than it spent all of last year.  

Rapha, the upmarket and trendy British bikewear brand, has been sold to two grandsons of Sam Walton, founder of Wal-Mart Stores.    Rapha, founded by branding consultant and lifelong cyclist Simon Mottram in 2004, has been sold to RZC Investments, a private equity firm run by Steuart and Tom Walton, who are reported to be committed mountain bikers. The firm also has an investment in bike maker Allied Cycle Works, based in Little Rock, Ark.   

The retail industry is actually in better shape than some of today's headlines may lead folks to believe.    "Distressed [retail] names are growing, but still a small part of our rated universe," Moody's analyst Christina Boni told CNBC. "The broader industry remains fundamentally healthy."   Dollar stores, home-improvement chains, convenience stores and auto-parts retailers are among the leaders of the pack, according to the report.   

Hunter, best known for its signature rain boots, is expanding its fledgling retail footprint.   The iconic British brand will make its North American freestanding retail debut in October, at Yorkdale Shopping Centre in Toronto.   

Gap's local franchisee in Australia is ending its four-year relationship with the specialty retailer.

The financially struggling OrotonGroup is expected to close its six Gap stores by the end of January as it looks to focus on its core Oroton handbag business and limit related future losses.  In June, Oroton, which operates 70 stores and is best known for its luxury handbags, announced it was exploring options, which could include a sale of its business.

L Brands, The Cato Corp., and The Buckle reported decreases in same-store sales, although one still managed to sound an upbeat note about its second quarter.   

Another retail sector continues to consolidate.   The Aldo Group Inc. said it will acquire the footwear and accessories businesses of the Camuto Group. Both companies are family owned. The news comes just over a week after Michael Kors announced it was buying Jimmy Choo.   

Costco Wholesale Corp. turned in a winning performance in July, fueled by strong traffic trends.   The company reported that its net sales in July rose 8.8% to $9.41 billion, compared to $8.65 billion during the similar period last year. Total company same-store sales rose 6.2%, with a 6.0% increase in the U.S. Excluding the impacts from changes in gasoline prices and foreign exchange, total same-store sales rose 5.3%, and 5.5% in the U.S.