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When it comes to where millionaires live in America, the rich keep getting richer.Market research firm Phoenix Marketing International notes that although the total number of millionaire households rose for the 11th straight year in 2019, the gains were disproportionately seen in states that already had more than their fair share of millionaires."While the total number of high-net-worth households grew, these increases were largely seen in the wealthiest states, reinforcing the broader ongoing wealth-gap issues the country faces," says Carl Uttaro, VP of financial services research at Phoenix MI. How Many Millionaires Are in the U.S.?Phoenix MI is tracking the effects of the coronavirus pandemic, which could make for a very different landscape going forward. But last year, at least, the good times continued to roll. Indeed, a record 6.71% (or 8,386,508 out of 125,018,808 total U.S. households) can now claim millionaire status. That's up from 6.21% in 2018 and just 5.81% in 2017.Note well that to be considered a millionaire by the standards of wealth research, a household must have investable assets of $1 million or more, excluding the value of real estate, employer-sponsored retirement plans and business partnerships, among other select assets.Although California and New York have a great deal of millionaires in terms of raw numbers, they don't have the highest concentrations of rich households. It turns out there are numerous states with higher percentages of well-off households, several of which probably will surprise you.And don't forget that between living costs and taxes, a million dollars goes much further in some states than others.Here's a look at the millionaire rankings for all 50 states (plus the District of Columbia), based on the percentage of millionaire households in each. Just for good measure, we're also providing important tax and cost-of-living information. SEE ALSO: The Berkshire Hathaway Portfolio: Latest Buffett Stock Rankings

It seems as if department stores haven’t been able to catch a break. Now, warns Citigroup, they have another problem: a desire by brands to start selling directly to consumers.

CEOs and representatives from more than 330 businesses, including Capital One, General Mills, Microsoft, Nike, Salesforce, Visa and others are calling on bipartisan federal lawmakers to build back a better economy by infusing resilient, long-term climate solutions into future economic recovery plans.

Shares of Under Armour Inc. rallied 2.8% in premarket trading Thursday, after the athletic gear company said it expects nearly half of its North America stores to be reopened by the end of this week. Some of the safety protocols the company is taking given the COVID-19 pandemic included reduced store hours to allow more time for cleaning, limited store occupancy, requiring employees and customers to wear face masks in stores, closing of fitting rooms and holding back returned items for 72 hours before returning them to the floor. The stock has tumbled 55.5% year to date through Wednesday, while rival Nike Inc.'s shares have slipped 1.4% and the S&P 500 has lost 6.0%.

Nike has announced that 100% of its company-owned stores and over 95% of its partner stores in China and South Korea are open — though some are operating on reduced hours.

A recent survey released by Piper Sandler, which assessed consumer behavior changes amidst COVID-19, concluded that most respondents were generally optimistic about the economy, more than half are spending less since mid-March, and 55% of consumers don’t expect to return to normal spending behavior for >6 months after COVID-19 concerns fade. The Final Round panel breaks down the survey and discusses what the survey means for retailers in a post-coronavirus world.

Yahoo Finance catches up with V.F. Corp CEO Steve Rendle to discuss how the owner of Timberland and Vans is navigating the chopping retail environment.

Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]

Sales at stores open at least a year fell 42.8% in the quarter. Management suspended the dividend as it seeks to conserve cash.

Wells Fargo Asset Management Multi-Asset Strategist Brian Jacobsen joins Yahoo Finance’s Seana Smith to discuss the market rally amid optimism over Moderna's coronavirus vaccine data.

Former Chairman & CEO of Toys 'R' Us and current CEO of Storch Advisors Jerry Storch joins Yahoo FInance’s Seana Smith to discuss the worse than expected drop in April’s retail sales and which sectors have been especially hard.

Foot Locker faces a number of challenges in the wake of the coronavirus pandemic, including a focus on shoes and store locations in malls, analysts say.

Nike is looking to use the power of sports to inspire and convey a sense of hope with its newly-released film “Never Too Far Down,” narrated by LeBron James.

The following are the top stories on the business pages of British newspapers. - Unsecured creditors of Cath Kidston are owed about £90 million and are expected to receive only a small dividend after its pre-pack administration.

Nike, Inc. (NKE) warned that it expects global store closures to have a “material impact” on its retail and wholesale businesses in the fourth quarter.The sportswear retailer said that about 5% of its Nike-owned stores in North America are open, as well as 15% of its shops in APLA and 40% of its stores in EMEA with some operating with reduced hours. The wholesale partners in these countries have also begun to re-open stores, the company added.“Since mid-March, the vast majority of Nike-owned and wholesale partner stores outside Greater China and South Korea have been completely closed to help slow the spread of COVID-19,” Nike said in a statement. “In light of store closures, product shipments to wholesale customers have slowed resulting in significantly lower wholesale revenue and higher inventory. We continue to expect this to have a material impact on our Nike Direct and wholesale operations in North America, EMEA and APLA in the fourth quarter.”To offset the revenue fallout from the coronavirus-induced store closures, Nike said it has been focused on expanding its e-commerce capacities.“We have increased our digital fulfillment capacity to meet this higher than anticipated demand which is partially offsetting declines in Nike-owned stores,” the company said.Meanwhile, the sportswear retailer said that 100% of Nike-owned stores and over 95% of partner stores in Greater China and South Korea are now open, with some still operating with reduced hours. However, while retail traffic trends are progressing, store traffic remains below prior year levels, Nike said.Shares in Nike have taken a hit this year plunging as much as 39% and were trading at $86.99 as of the close on Friday.In response to the retailer’s financial update, five-star analyst Brian Nagel at Oppenheimer assigned a Buy rating on the stock with a $115 price target, reflecting 32% upside potential in the shares over the coming year.“While coronavirus-related disruptions are apt to weigh meaningfully upon results at Nike nearer-term, we are optimistic that NKE should emerge an even stronger brand and operator as headwinds eventually abate,” Nagel wrote in a note to investors. “Our recent conversations with clients suggest to us that the market is likely to continue to largely look through current fundamental weakness and toward still compelling intermediate and longer-term sales and earnings potential for the enterprise.”The bullish sentiment around Nike’s stock is also shared by the rest of Wall Street analysts. Out of the 22 analysts, 19 have Buys and 3 have Holds which add up to a Strong Buy consensus. The $96 average price target though is less optimistic than Nagel’s indicating a 10% potential gain. (See Nike stock analysis on TipRanks).Related News: Chipotle Expands With Uber Eats in Canada; Shares Pop as Piper Sandler Raises PT Uber Announces $750M Notes Offering, As GrubHub Takeover Reports Swirl Zoom’s Expansion Plans Feature Two New R&D Centers, Hiring Hundreds More recent articles from Smarter Analyst: * Facebook-Backed Reliance Launches Powerful Online Grocery Service In India * European Launch of Kylie Skin Boosts Coty Stock by 15% * Boeing Cuts 25% Of Its Workforce At Winnipeg Site; Top Analyst Slashes PT To $155 * AngloGold Halts Production At World’s Deepest Gold Mine, Due To Covid-19 Outbreak

NIKE, Inc. (NYSE: NKE) today announced that John Thompson, Jr., a director of the Company since 1991 and former Head Coach of the Georgetown University men’s basketball team, has decided to retire and will not stand for re-election to the NIKE, Inc. Board of Directors at the September 2020 Annual Meeting of Shareholders. Mr. Thompson’s retirement will be effective as of the end of Nike’s fiscal year on May 31, 2020 after which he will serve the board as a Director Emeritus.

Raymond James analysts visited an Atlanta mall over the weekend and found shoppers lining up for athletic gear at Nike, Foot Locker and Forever 21.

Aoris Investment Management recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Aoris International Fund aims to generate returns of 8–12% p.a. over a market cycle. The portfolio is long-only and highly selective. You should check out Aoris Investment Management’s top 5 stock picks for investors to buy right […]

Serena Williams discusses how her family has adapted to the challenges of the coronavirus pandemic