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    Interactive Brokers will offer crypto trading by the end of the summer

    In this photo illustration, the Interactive Brokers LLC logo seen displayed on a smartphone.Igor Golovniov | LightRocket | Getty ImagesInteractive Brokers — seen as the e-broker with some of the most sophisticated clientele — is slated to start trading cryptocurrencies on its platform in the coming months.”Customers certainly are asking for [crypto trading] and we expect to be ready to offer it to them by the end of the summer,” Interactive Brokers Chairman and CEO Thomas Peterffy said Wednesday at the Piper Sandler Global Exchange & FinTech Conference.Investors, both retail and institutional, have poured into bitcoin and other digital assets in 2021. Bitcoin’s price has soared to above $34,000 from the $9,000 in June of 2020. The price of bitcoin has experienced wild volatility recently due to headlines on a China crackdown, Elon Musk and investors taking excessive risk.Zoom In IconArrows pointing outwardsThe price of bitcoin rose 6% to the $34,890 level on Wednesday, after falling on Tuesday which may be related to concerns over security of the cryptocurrency after U.S. officials managed to recover most of the ransom paid to hackers that targeted Colonial Pipeline.Currently, Interactive Brokers offers the trading of bitcoin futures on its platform.Rival brokers Fidelity and Charles Schwab don’t offer direct crypto trading on their platforms, but do offer some access to some related funds. However, stock trading app Robinhood does offer crypto trades.Coinbase Global — the world’s largest crypto exchange — is how many investors access the digital assets. Trading volumes totaled about $30 billion in the first quarter of 2020. The newly public company got its first sell rating on Wall Street from Raymond James on Wednesday on concerns about competition from the traditional brokerage firms.”The vast majority of its revenues currently come from trading commissions and over and over again history has shown that brokerage and exchanges see excess profits competed away unless there is a structural barrier to entry,” the note said.Interactive Brokers offering bitcoin trading will further lower the barrier to entry for individual investors to access the digital assets. However, the unregulated coins could pose safety risks to the established online brokers.”As for hurdles, the greatest hurdle is how do you keep you customers 100% safe,” added Peterffy. “How do you make it 100% sure that no one will steal their coins in spite of the fact that they are untraceable. We will find out more about this when we open for business at the end of the summer.”As of the first quarter of 2021, Interactive Brokers had 1.33 million customer accounts and $330.6 billion in customer equity.Enjoyed this article?For exclusive stock picks, investment ideas and CNBC global livestreamSign up for CNBC ProStart your free trial now More

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    Clean Energy Fuels, ContextLogic soar as retail traders pick new meme stocks

    In this articleCLNEWISHClean EnergySource: Clean EnergyA new day means new targets for the retail trading crowd.Shares of Clean Energy Fuels surged 28% during premarket trading on Wednesday, coinciding with mentions of the company jumping on internet chat boards, while ContextLogic advanced 31%.Clean Energy Fuels is the second-most discussed name among retail traders over the last few hours, second only to Clover Health, according to data from HypeEquity.ContextLogic, meanwhile, is the most mentioned stock on Reddit’s WallStreetBets forum over the last 24 hours behind Clover Health, according to QuiverQuant, which tracks activity on the site. ContextLogic is known as Wish.com, an e-commerce platform.Clean Energy Fuels is the fourth most mentioned stock, QuiverQuant found.The sudden interest in the renewable natural gas company and e-commerce name follows similar retail trader activity in stocks including AMC, GameStop, Wendy’s and BlackBerry. At one point on Tuesday, shares of Clover more than doubled. Clover shares were up again on Wednesday.Newport Beach, California-based Clean Energy Fuels has a relatively small float at 66%, meaning the stock can be more easily manipulated. And about 8% of its float is sold short, according to data from FactSet.ContextLogic has an even smaller portion of its shares available on the open market, with float just 54.5% of the shares outstanding. Roughly 11% of the company’s shares are sold short.CNBC’s Jim Cramer weighed in on the sudden ascent in Clean Energy Fuels, saying investors should “be careful … the company’s had no real revenue growth and almost no profitability in a decade.”The trading activity in Clean Energy Fuels has been building over the last few days, and on Tuesday more than 44 million shares changed hands. This compares to a 30-day average volume of just under 9 million shares traded daily.Become a smarter investor with CNBC Pro. Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. Sign up to start a free trial today More

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    Swarm of Cicadas ground White House press corps charter, delaying flight to Europe

    Delta Air Lines Airbus A330-300 landing at Athens International Airport AIA ,LGAV / ATH Eleftherios Venizelos, with registration N806NW, a former Northwest Airlines Airplane.Nicolas Economou | NurPhoto | Getty ImagesA swarm of cicadas grounded a White House charter jetliner late Tuesday, delaying dozens of reporters set to travel to Europe ahead of President Joe Biden’s first overseas trip.The chartered Delta Air Lines Airbus 330-300 was set to take off around 9 p.m. from Washington Dulles International Airport, before the horde arrived, marking the latest disruption from the billions of Brood X cicadas that emerged this year after 17 years underground.Delta said that flight was delayed because the auxiliary power unit, or APU, which provides electrical power to the cabin and other onboard systems, became inoperative.”At issue was the presence of periodical cicadas within the APU, rendering it unworkable,” Delta spokesman Morgan Durrant said in a statement. “Delta teams dispatched a replacement Airbus A330 aircraft and crew to Washington-Dulles International Airport to operate the flight.”That power unit must be fully functional for transoceanic flight.The new Delta charter left Dulles for Cornwall Airport Newquay in the U.K. around 3:30 a.m. ET, Delta said.”We apologize to our charter customers for this rarest of entomological delays, but still nothing is more important than safety,” Durrant said.Magicicada periodical cicadas, members of Brood X, cluster on a plant at Fairland Recreational Park June 01, 2021 in Burtonsville, Maryland.Chip Somodevilla | Getty Images More

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    Start-up Kepler raises $60 million to expand in-space data communications network, add US office

    A series of GEN1 satellites ready to head to a launch site.Kepler CommunicationsKepler Communications, a start-up that is building a satellite internet network for service outside of the Earth, raised $60 million in a new round to help the Toronto-based company grow, including an expansion in the U.S.”We’re not selling to businesses directly here on Earth – we’re focused on providing communications to space stations, to other satellites, to allow them to bring their information back down to Earth in real time,” Kepler CEO Mina Mitry told CNBC.Kepler’s private equity round was led by Tribe Capital, which has previously invested in space companies Relativity and Momentus, with funding also coming from Addition Capital and Canaan Partners. The company has now brought in $90 million in total since its founding in 2015.The company is working to put “just over 200 satellites” in orbit to get its network “fully operational by 2023,” Mitry said. Kepler’s satellites are “roughly the size of a cereal box,” circling the Earth in low orbits that run from the north pole to the south pole every 90 minutes. The company has 15 satellites operating in orbit and is building the satellites in its Toronto headquarters at a rate of more than 10 per month.Thanks to the satellites already in orbit, Kepler is generating revenue in the “millions range” even before its network is fully operational, Mitry said.In-space internetSenior satellite technician Chris Summers completes the final pre-flight checks on satellites Kepler-16 and Kepler 17.Kepler CommunicationsWhile there are a number of companies working to build new satellite internet networks for Earth-bound people, such as SpaceX’s Starlink, Kepler is creating a service for everything outside of it. Mitry noted that Kepler’s network would the first built by a company, giving NASA’s Tracking and Data Relay Satellite (TDRS) network as an example of a comparative but aging capability.”We’re going to be the commercial alternative that’s available,” Mitry said.Kepler’s goal is to connect to other businesses’ and organizations’ assets, such as imagery satellites or space stations, and then “move that information back down to Earth.””All this stuff is happening to make space usable by a massive set of people and that’s why now there’s this need to put up internet access outside of Earth which didn’t exist before,” Mitry said.U.S. office likely in WashingtonMitry noted that Kepler has doubled its headcount annually since its founding. The firm had about 80 workers at the beginning of 2021, and it expects to have about 150 employees by the end of the year.Kepler’s expansion will include adding more outside of Canada, with the company planning to establish a U.S. office. Mitry said the company has yet to commit formally to a location, but that the office is likely to be located in Washington, D.C.”The focus of this office is to really scale up for U.S.-based government customers,” Mitry said. “We’ve been pretty fortunate that, even based as a Canadian company here, we’ve landed quite a few U.S. government opportunities and we want to be closest to our customers to help support them. So we’ll be growing out both sales and marketing, as well as engineering functions.”Become a smarter investor with CNBC Pro.Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. Sign up to start a free trial today. More

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    Almost half of Americans are willing to take on debt in a post-pandemic spending splurge, survey finds

    nortonrsx | iStock | Getty ImagesAmericans are ready to start spending money to treat themselves — and 44% are willing to go into debt to do it, a report from CreditCards.com finds.Millennials, ages 24-40, are most likely to take on more debt (59%) followed by Gen Zers, ages 18-24, coming in at 56%. Only 40% of Gen Xers, ages 41-56, and 32% of baby boomers, ages 57-75, said the same.When it comes to what respondents are willing to incur charges for, car purchases and other automotive spending topped the list.Zoom In IconArrows pointing outwardsMore than two-thirds, or 67%, plan to spend money in the second half of the year, with travel and out-of-home entertainment the most popular purchases.Everyone is entitled to treat themselves after enduring the Covid-19 pandemic, said Ted Rossman, senior industry analyst at CreditCards.com.”You can go out and splurge a little bit,” he said “Do it with savings.”Don’t go into debt for it.”Zoom In IconArrows pointing outwardsCredit card interest rates are creeping higher, with the average card charging over 16%. If you don’t have a great credit score, you can easily be paying 20% to 25%, Rossman noted.If you do want to spend, do some legwork first to figure out a realistic amount.List your financial goals on a spreadsheet, including long-term ones like retirement savings, said Winnie Sun, co-founder and managing director of Sun Group Wealth Partners in Irvine, California.Once you have that financial goals list, start with a choice that isn’t going to break the bank. Save a bit each week or month until you can pay for it.”Getting into debt just snowballs into bigger financial anxiety and excess interest payments down the road,” said Sun, a member of the CNBC Financial Advisors Council.If you have a rewards credit card, using it responsibility — by paying it off each month — may help you earn points towards airfare, hotel or car rental. If you incur debt, that may outweigh the rewards.If you need to carry a little debt, Rossman suggests getting a card with a zero percent promotion. Stick with paying it off, without adding new purchases to the card.Another option is hybrid programs, like Citi Flex and American Express Plan It, that allow cardholders to pay off certain purchases in installments. You get a specific timeline and usually lower interest rates.”That can be something that lowers your interest bill and psychologically avoids that minimum payment trap that can drag on,” Rossman said.A fresh startBefore you start getting back into old habits, consider how your financial situation may have improved during the pandemic if you were fortunate enough to keep your job.Over the past year, Americans have actually lowered their debt and saved more money.More from Invest in You:How to resist the urge to splurge in a post-pandemic spending spreeHow to avoid overspending in this hot housing marketHow to vet budgeting and investing appsTotal credit card balances fell to $770 billion in the first quarter of 2021 from $927 billion at the end of 2019 — a 17% drop, according to the New York Federal Reserve. Meanwhile, the personal savings rate also hit record highs during the pandemic, hitting 33.7% in April of 2020 and is still considered high a year later, at 14.9% for April 2021, according to the St. Louis Federal Reserve.Rossman urges people to stick to any newfound, good personal finance habits.”We have an opportunity,” he said. “There’s a chance to write a different kind of story here.”SIGN UP: Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox.CHECK OUT: 4 content-creating side hustles that can produce passive income, with tips from the pros via Grow with Acorns+CNBCDisclosure: NBCUniversal and Comcast Ventures are investors in Acorns. More

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    Best Buy says stores will close Thanksgiving Day, to offer Black Friday deals online

    A Best Buy employee uses a cart to do shopping for an online customer at South Bay Center in Boston on Nov. 10, 2020. Retail trends are changing during the Covid-19 pandemic, and Best Buy has begun offering their holiday Black Friday sales and deals earlier in the month to thin out crowds.Boston Globe | Boston Globe | Getty ImagesBest Buy said it will keep stores closed on Thanksgiving Day and offer many of its Black Friday deals online for the second year in a row.The company joins a growing list of retailers that have already begun to announce plans for the holiday season. Target and Walmart also said that they will be closed on Thanksgiving Day for the second year in a row.The Friday after Thanksgiving has long been the kickoff to holiday shopping, but in recent years many retailers pushed that up earlier and used deep discounts to draw customers to stores on Thanksgiving Day after they finished their turkey dinners.Last year, however, the pandemic changed consumers’ shopping patterns as they sought out more contactless options, such as shopping online or using curbside pickup. Retailers offered more doorbuster deals on their websites to reduce store crowds and appeal to shoppers’ preferences.Best Buy, in particular, is known for its wide selection of popular Black Friday items, such as flat-screen TVs, tablets, smartphones and other consumer electronics.In a company statement Tuesday, Best Buy did not share its store hours or plans for Black Friday, but said it was able to serve millions of customers last year during Black Friday weekend through curbside pickup and shipping packages to homes.”This year, we’ll have even more ways for customers to easily and conveniently get their holiday shopping done, over the Black Friday weekend and throughout the entire holiday season,” it said. More

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    Stocks making the biggest moves in the premarket: Clover Health, Campbell Soup, Lordstown Motors & more

    Take a look at some of the biggest movers in the premarket:Clover Health (CLOV), Wendy’s (WEN) – The two stocks extended their gains in premarket trading, after surging yesterday on increased social media attention. Clover – a seller of health-care insurance that went public via a SPAC deal in October – has risen for the past six days, capped by a nearly 86% surge Tuesday. It soared 24.2% in premarket action, while Wendy’s – up nearly 26% in yesterday’s trading – added another 4.3% this morning.Campbell Soup (CPB) – The food producer reported quarterly earnings of 57 cents per share, missing consensus by 9 cents a share. Revenue also missed forecasts as results lagged year-ago figures that were boosted by pandemic-related demand. Campbell also cut its full-year forecast, reflecting both those quarterly results and the recent sale of its Plum baby food and snacks business. Campbell shares tumbled 5.8% in the premarket.Lordstown Motors (RIDE) – Lordstown Motors said there was “substantial doubt” about its ability to continue as a going concern. The electric truck maker said in a Securities and Exchange Commission filing that it is having problems funding vehicle production. Lordstown plunged more than 16% yesterday ahead of the news, and slid another 4.2% in premarket trading.Target (TGT) – The retailer increased its quarterly dividend to 90 cents per share from 68 cents a share, a jump of 32%. The improved payout will go to shareholders of record as of Aug. 18, to be paid on Sept. 10.Merck (MRK) – The drugmaker struck an agreement to supply the government with molnupiravir, an oral treatment designed to treat mild to moderate cases of Covid-19. The drug – which Merck is co-developing with privately-held Ridgeback Biotherapeutics – is currently being evaluated in a phase 3 trial.Fastly (FSLY) – Fastly issued an apology for Tuesday’s widespread internet outage, with the cloud computing company saying the incident was caused by a software bug that was triggered when a customer changed settings. Fastly rose 2.4% in the premarket.Sherwin-Williams (SHW) – Sherwin-Williams raised its sales and profit guidance for the year, as the paint maker sees pandemic-induced demand for its products continuing even as the pandemic recedes. The company is also raising its prices to deal with higher costs for raw materials. Sherwin-Williams fell 1.3% in the premarket.Casey’s General Stores (CASY) – Casey’s reported quarterly earnings of $1.12 per share, beating the consensus estimate of 88 cents a share. The convenience store chain’s revenue exceeded estimates as well. Same-store sales, excluding gasoline purchases, rose 12.8% as customer traffic steadily increased.Fox Corp. (FOXA) – Fox added 1.8% in the premarket following an upgrade to “overweight” from “equal weight” at Wells Fargo Securities, which feels the stock could benefit from Fox’s presence in sports gambling despite pressures from cord-cutting.Abercrombie & Fitch (ANF) – The apparel retailer was upgraded to “buy” from “hold” at Jefferies, which points to ongoing benefits from years of brand elevation efforts as well as an increase in profit margins. Abercrombie rose 2.9% in premarket trading.GameStop (GME) – The videogame retailer will report quarterly earnings after today’s closing bell. GameStop shares surged the past two days amid renewed buying in the so-called “meme” stocks.Ferrari (RACE) – Ferrari named STMicroelectronics (STM) executive Benedetto Vigna as its new CEO, filling a position that had been vacant for six months since Louis Camilleri retired as the automaker’s chief. Vigna – who runs chipmaker STMicro’s biggest division – will begin his new duties at Ferrari on Sept. 1. More

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    Lines between men's and women's fashion are blurring as more retailers embrace gender-fluid style

    The off-price retailer Saks Off Fifth has teamed up with The Phluid Project to create a line of gender-fluid apparel, coinciding with Pride Month.Source: Saks Off FifthFor Christina McCann, shopping at the mall involves sifting through the women’s and the men’s aisles in search of the perfect outfit.McCann, who is nonbinary, often starts out by perusing dresses, which tend to be a better fit for a female body type. Then, McCann will shift to the men’s side of a store to pick out more masculine items: combat boots, oversized tees and sweatpants. McCann, who uses the gender-neutral pronoun they, mostly spends time and money on resale apps like Depop, and shopping vintage goods from thrift shops by browsing by size instead of by gender.”The way that I dress has changed a lot to reflect what I want people to think about my gender,” the 24-year-old retail worker said. “I really truly believe that clothing has no gender.”There are more consumers like McCann, who are seeking gender-neutral apparel. And retailers want to meet that demand. Gender-neutral brands — such as Les Girls Les Boys and Tomboy X — are marketed as options for everyone. The brands attempt to disregard traditional gender constructs and labels. Gender-inclusive clothing, which is mostly found on websites as unisex, can range from basic T-shirts and jackets, to dresses and skirts, for all body types.Several initiatives are kicking off in June in honor of Pride Month, further testing the waters. But analysts and fashion experts say the gender-fluid fashion trend is here to stay.”Retailers and brands should be looking at gender-fluid apparel as an opportunity,” said Erin Schmidt, senior analyst at Coresight Research, a global advisory and research firm specializing in retail and technology. “It absolutely can’t be ignored. It will definitely be impacting the fashion trends of the future. And the retailers and brands that are doing it now are really going to be ahead of the curve.”Gender-neutral fashion is heavily influenced by younger, Gen Z consumers who are more vocal when it comes to expressing themselves and what they stand for. They’re thinking creatively and outside of the box. Many of them, like McCann, shop secondhand clothing on platforms such as Poshmark and Depop. As this demographic gains more spending power, analysts’ say, this is another facet of fashion that brands cannot ignore.The global fashion shopping platform Lyst found that searches for fashion pieces including agender-related keywords have increased 33% this year. Specifically, Lyst has tracked spikes for searches of oversized T-shirts, skirts and pearl necklaces (like the ones worn by rapper A$AP Rocky.)’A dress is a dress’When the Covid pandemic hit the U.S.in March 2020, it was still early days for gender-fluid fashion lines, according to Schmidt. But over the past year, she said, some notable brands have entered the space.”It’s really been driven by the conversations around gender identification, … everything from updating your signature in your email to schools having conversations about how to refer to students,” Schmidt said.The movement has started with smaller clothing brands — The Phluid Project, Les Girls Les Boys, Tomboy X and Wildfang — that are looking to challenge gender norms. Catering to people looking for gender-fluid clothing options, these companies embrace diversity, equality and inclusion, and their efforts are reflected in their marketing.Wildfang’s website reads, “Why is the fashion industry still clinging to outdated gender norms that serve no one?” Les Girls Les Boys defines itself as a “shareable label.”Les Girls Les Boys was founded in 2017 as a gender-fluid line that says it doesn’t think about labels or definitions in clothing.Source: Les Girls Les BoysAnd more recently, inspired in part by the upstarts, a wave of designer brands have started to embrace gender neutrality — giving the movement a bigger voice and even stronger backing.It’s an important backing, too. Luxury brands often kickstart fresh fashion cycles as their models preview the next season’s looks on the runway. Crocs was an obnoxious foam clog that many people had written off until it started appearing on the feet of Scottish fashion designer Christopher Kane and Balenciaga models. Now, Crocs are the “it” shoe of the pandemic.Last fall, Marc Jacobs launched a polysexual capsule collection called “Heaven,” which the designer described as a clothing line for “girls who are boys and boys who are girls [and] those who are neither.” Stella McCartney recently started selling a genderless and sustainable apparel line called “Shared,” taking cues from streetwear. Also last year, Gucci debuted a gender-fluid section on its website called “MX,” using only models who identify as nonbinary in its marketing.”Playing with the constructive nature of gender, the MX project underlines the performative nature of what we wear, presenting masculinity and femininity as relative concepts,” Gucci said.Coresight’s Schmidt said the Gucci launch in particular was “the biggest push the industry needed.” The Gucci styles — which range from silk shirts to canvas jackets to wide-leg denim pants — have since been donned by celebrities including Jared Leto and Billie Eilish. That, and Vogue magazine’s cover late last year showing musician Harry Styles wearing a skirt, were pivotal moments for gender-fluid styles to take center stage.The Phluid Project, a gender-free fashion brand that also operates its own nonprofit organization, is helping to lead some bigger-name retailers’ gender-inclusive initiatives tied to Pride Month. Founded in New York in March 2018, the group runs a diversity and inclusion training program to educate workplaces on how to have safe spaces for the LGBTQIA+ community — specifically transgender, nonbinary and gender nonconforming individuals.”A dress is a dress, a skirt’s a skirt, a jacket’s a jacket, lipstick is lipstick,” said Rob Smith, founder of Phluid Project. “We tend to gender everything. Our entire world is built on a binary construct, and the objective of Phluid Project is to allow folks to express themselves in the way that they feel comfortable — the way that feels authentic to them.”This month, Phluid Project has partnered with Saks Off Fifth to create a line of gender-fluid apparel that will be available for sale on the off-price retailer’s website, as well as in select stores. Some of Phluid Project’s other retail partners during Pride Month include Francesca’s, Nordstrom and Macy’s.”This is a big system to undo,” Smith said about the fashion industry historically catering to gender norms. “But this is where the conversations begin to happen. Creating a gender-neutral selection, and then putting it into Saks Off Fifth, is going to make people go, ‘Wow, this T-shirt can be worn by a man, or a woman, or anyone else.'”Phluid Project will also conduct diversity, equity and inclusion training internally for Saks’ employees, with workshops and classes called “Gender 101.” Smith said the goal is to educate workers on how to “not make assumptions when you see someone, and how to how to navigate language to be more inclusive.”Thinking outside of the norm is becoming the new norm, according to Molly Taylor, Saks Off Fifth’s head of merchandising.”There’s not really rules anymore, and I’m seeing that across all tiers of product,” Taylor said. “Look at what silhouettes are trending: oversized. New and emerging contemporary designers are really thinking differently about how they position their lines, from the very beginning, to be more inclusive.””That could be a size component or that could be a gender fluidity component,” Taylor added.’A big conversation’Analysts point to streetwear — such as that designed by Off-White, Supreme and Bape — and makeup as two categories within retail that offer examples of how gender lines can be blurred. With streetwear, many women have been quick to put on baggy pants and oversized hoodies that were designed more with men in mind. It has showed how many female consumers are comfortable — literally and figuratively speaking — dressing that way.”I don’t know if any of these streetwear [brands] are even geared toward a specific gender, but with a lot of them men and women are wearing the same thing,” Jefferies retail analyst Janine Stichter said. “With the whole streetwear movement, over the last two years … there’s been blurred lines of what men and women are wearing.”Influencers on social media are also playing a key role in driving discourse around new fashion trends and representing gender-fluid brands.”TikTok has been a platform that has really grown the inclusivity conversation,” said Rachael Robbins Kachko, a merchandising strategist for women’s clothing at consumer insights agency Tobe TDG. “We’ve seen that from Instagram for a while.”Kachko said the beauty industry has been progressively marketing products to men in a way that makes them feel more comfortable using makeup. As one example, the former baseball star Alex Rodriguez last month debuted in a campaign with the men’s wellness brand Hims, for a concealer “Blur Stick” created for men.”A lot of it started within the beauty world, where we saw a lot of men wearing makeup — and not in what was typical drag,” Kachko said. “But it was just a guy dressed the way he wanted, but was also wearing makeup.”Shoppers will start to demand more of this from retailers, she said, as more and more conversations around individuality and self-expression spark greater cultural change.In addition to launching a gender-inclusive line, Abercrombie & Fitch said it will be making a $200,000 donation to The Trevor Project.Source: A&F PR”It is a big conversation, and just like any movement, it takes years to really make your stance,” Kachko said. “The gender-neutral perspective is still very new to the larger community, which is why I think it’s so surprising to most to see how much this younger generation is sort of defining themselves in this way.”Catering to Gen Z, the teen apparel retailer Abercrombie & Fitch this month is launching a 24-piece gender-inclusive adults collection, as well as an 11-piece gender-inclusive kids collection, in celebration of Pride Month. The merchandise was designed with help from The Trevor Project, a suicide prevention and crisis intervention organization for LGBTQ+ young people.According to Kristin Scott, president of global brands at Abercrombie, customers’ interest in gender-inclusive products has greatly increased in recent years. The company’s Hollister brand recently debuted a new line called “Social Tourist,” with the help of TikTok stars Charli and Dixie D’Amelio, that is entirely gender-fluid.”Our goal across our brands is to ensure our customers feel comfortable and can be themselves,” Scott said. “As we see the interest in gender-inclusive offerings increase, we’ll continue to build on those ideas.”While the gender-fluid merchandise from companies like Nordstrom and Abercrombie is a strong start, McCann hopes that one day, there will be even more progress across the retail industry beyond just the products that companies sell. McCann hopes to see more changes in stores, similar to how Target in 2015 removed gender-based labeling for categories including toys, bedding and entertainment.”As real retail worker, I would like to see nonbinary sides of the store,” McCann said. “I don’t want women’s clothing on the left, and men’s clothing on the right. I want to see them mixed together.”‘Anybody can shop here, in any section. We’re not judging you. We’re going to accept you,” McCann said. More