The News In Brief
Hudson’s Bay Retail Chain to Terminate More Than 8,300 Workers by Sunday
Canada’s oldest retail chain will lay off 89 percent of its workforce by Sunday, when it will conclude its liquidation sale and shutter all stores.
Crypto-Luxury Brand 9dcc Is Shutting Down
The brand cited headwinds in web3 and softness in the luxury market for its decision in an announcement Tuesday.
Temu-Owner PDD Holdings Misses Quarterly Revenue Estimates
Despite price slashing from retailers and government stimulus measures to boost consumer spending, the e-commerce company's year-on-year net income fell 47 percent.
Swiss Watch Exports Jump in April Ahead of Threatened US Tariffs
Swiss watch exports to the US saw a significant increase in April, driven by a surge in shipments ahead of anticipated tariff hikes.
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Boris Bidjan Saberi Is Shutting Down Operations
The eponymous Barcelona-based avant garde menswear label confirmed it has ceased operations.
EU Plans €2 Fee for Low-Value Parcels in Setback for Shein and Temu
The European Union is considering a handling fee for low-value e-commerce packages, primarily from platforms like Shein and Temu, to address a surge in volume and ensure compliance with EU regulations.
Hoka, Uggs Owner Deckers Declines to Provide Fiscal Outlook Due to Tariff Uncertainty
The shoe maker’s first-quarter net sales rose 6.5 percent off strong demand for Hoka footwear.
Adidas, Puma Expected to Hike Sportswear Prices Following Nike as US Tariffs Hit
Nike’s price hike announcement was ‘the moment Adidas and Puma were waiting for,’ said Robert Krankowski, sporting goods analyst at UBS.