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.
Reuters
Retailers Pummelled by Trump’s Trade War Entertain More ‘Take-Private’ Offers
Hit hard by President Trump’s trade war and volatile markets, some publicly traded retailers are increasingly considering offers to sell to private equity.
Trump Tariffs Hit European Luxury, Shares Tank
LVMH and Hermès stock fell about 3 percent and 4 percent respectively, in line with sector peers including Kering, Prada and Burberry, after the US president announced a 50 percent duty on imports from the European Union.
Global Retailers’ Tariff Strategy Risks Spreading Pain Beyond US Consumer
Brands like Birkenstock and Pandora are considering raising prices in markets outside the US to offset the impact of tariffs.
Valentino Unit Put Under Court Administration Over Labour Exploitation
A Milan court found that Valentino Bags Lab subcontracted production to Chinese-owned firms in Italy that exploited workers.
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The News in Brief
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.
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.
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.
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.
Nike to Raise Prices by Next Week, to Return to Selling on Amazon, Media Reports Say
The world’s biggest sportswear brand is raising prices on several products next week and selling products on e-commerce giant Amazon.
Steve Madden Sues Adidas to Thwart Challenges to Shoe Designs
Steve Madden is suing Adidas, alleging that the athletic wear company is attempting to prevent it from selling sneakers with resemblance to Adidas’ signature three-stripe design.