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.
retail / Activewear
Target Cuts Sales Forecast on Shopper Pullback, Tariff Hit
The retailer now expects net sales to decline by a low single digit this year, down from previous guidance for an increase of about 1 percent.
The Next Sneaker Powerhouse?
Dick’s Sporting Goods’ surprise purchase of Foot Locker sets it up to be a major new player in the global sneaker market — if it can execute on its vision.
Reebok Names New Head of Basketball
Designer Jide Osifeso will shape the creative direction of Reebok Basketball as the brand seeks to re-establish itself in a performance category it’s been absent from for more than a decade.
Nike Forms New Team for Secretive Brand With Kim Kardashian
The sportswear company is assembling executives and designers to operate the new brand with Skims, with plans to release its first womenswear collection this spring.
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Exclusive: Inside Adidas’ Running Strategy
The company’s new supershoe for elite runners, the Adizero Adios Pro Evo 2, has arrived, and with a revamped running portfolio, Adidas aims to get more casual runners in its sneakers, too.
Nike Seeks Brand Boost in Shoe Science for Kipyegon’s 4-Minute Mile Bid
The sportswear brand announced Wednesday its plans to improve sneaker technology to help Kenyan track star Faith Kipyegon break a women’s record by running a mile in under four minutes.
Analysis: US Tariffs on Vietnam Would Be a Blow to Nike and Other Sportswear Brands
According to its annual report, Nike produced 50 percent of its footwear and 28 percent of its apparel in Vietnam in its 2024 fiscal year.
Running Shoe Brand Hoka Accused of Misappropriating Maori Culture
The popular French American sportswear company has been accused of failing to acknowledge the Maori origins of its name by Indigenous intellectual property experts in New Zealand.
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Retail
Nike Dunk, Once the World’s Hottest Sneaker, Is Fading Away
Sales of the Nike Dunk are expected to drop 70 percent over two years as new CEO Elliott Hill scales classic sneakers back to make way for new designs. Hill seeks to remedy Nike’s inventory problem by renewing its longtime strategy of maintaining enough supply scarcity to boost popularity among consumers.
Nike Dunk, Once the World’s Hottest Sneaker, Is Fading Away
Sales of the Nike Dunk are expected to drop 70 percent over two years as new CEO Elliott Hill scales classic sneakers back to make way for new designs. Hill seeks to remedy Nike’s inventory problem by renewing its longtime strategy of maintaining enough supply scarcity to boost popularity among consumers.
Retail
Nike Comeback Bid Is Threatened by Inventory Reset, Tariffs
The activewear brand’s shares dropped almost 5 percent after CFO Matthew Friend said he expects fourth-quarter revenue to decline by more than analyst expectations in Nike’s third-quarter earnings call. Nike’s turnaround effort faces weak consumer spending and fallout from President Donald Trump’s escalating trade war.
Nike Comeback Bid Is Threatened by Inventory Reset, Tariffs
The activewear brand’s shares dropped almost 5 percent after CFO Matthew Friend said he expects fourth-quarter revenue to decline by more than analyst expectations in Nike’s third-quarter earnings call. Nike’s turnaround effort faces weak consumer spending and fallout from President Donald Trump’s escalating trade war.
This Week: Will Nike Show the First Steps of a Turnaround?
Nike will report its first full quarter under new CEO Elliott Hill as the company tries to stage a comeback.
Exclusive: Inside Hoka’s Fashion Ambitions
In a new collaboration with Marni, the running brand known for its chunky, cushioned midsoles is looking to catch the eye of a new fashion audience — without compromising the performance DNA that’s made it an emerging sneaker powerhouse.
The News in Brief
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.
Italy’s Fashion Brands Sign Accord to Fight Worker Exploitation
Italian legal and political authorities, trade unions and fashion industry parties signed a non-binding action plan focussed on the creation of a database of brands’ suppliers and their workforces, after prosecutors uncovered widespread abuse.
EU Warns Shein of Fines in Consumer Protection Probe
The EU has ordered Shein to address consumer law breaches within one month or face potential fines.
Trump Extends Deadline for 50% Tariffs on EU Goods to July 9
The US president told reporters the decision to push the deadline came after he had a ‘very nice’ phone call with Commission President Ursula von der Leyen.
E.l.f. Beauty Announces $1 Price Hike, Citing Inflation and Tariffs
The mass brand will raise prices in August.