U.S. Supreme Court Won’t Hear Nike, Adidas Patent Dispute
The U.S. Supreme Court on Monday sidestepped Nike, Inc.’s appeal in a long-running sneaker design dispute with Adidas AG, declining to consider whether a tribunal can nix a patent based on grounds not raised by the parties. The justices passed over Nike’s claims that the Patent Trial and Appeal Board wrongly stripped it of a patent covering shoelace holes in knitted sneakers.
ICSC Survey: Gen Z Are Career-Driven, Credit-Averse And Tempted By Immersive Retail
ICSC’s latest study, “The Rise of the Gen Z Consumer,” shows a generation keenly aware of the state of the U.S. economy as the demographic’s spending power grows and balances being cost-conscious with the willingness to pay for convenience and quality.
Skechers Files Trademark Lawsuit Against Steve Madden
Skechers U.S.A., Inc. filed a trademark lawsuit in Los Angeles Federal Court against Steve Madden, charging that the brand’s “Kennie” line of sneakers that features an “S” design in the logo is too similar to the Skechers logo.
LAPD Recovers Up To $7 Million In Stolen Nike Sneakers
The Los Angeles Police Department seized millions of dollars worth of stolen merchandise believed to be Nike sneakers during a raid of a warehouse in Torrance, CA.
Former Nike CFO Joins Papa John’s
The former CFO of Nike North America, Ravi Thanawala, was hired by Papa John’s International, Inc. as chief financial officer, effective July 24, 2023.
Genesco Increases Stock Buyback Plan By $50 Million
Genesco, Inc.’s board of directors authorized a $50 million increase to its existing $200 million share repurchase authorization.
Forman Mills To Be Sold To Shoppers World
Forman Mills, the off-price retailer based in Pennsauken Township, NJ, agreed to be purchased by New York-based discount retailer Shoppers World.
Designer Brands Increases Price Range Of Share Repurchase
Designer Brands, Inc., the parent company of DSW, announced it is amending its previously announced modified “Dutch auction” tender offer to purchase for cash up to $100 million in value of its Class A common shares.
Nike To Open Flagship Store In Edmonton
Nike plans to open a flagship store West Edmonton Mall in Edmonton, which will become Canada’s largest store.
Skechers U.S.A. Named To Fortune 500 List For First Time
Skechers U.S.A., Inc. made the Fortune 500 list for the first time following record annual sales of $7.4 billion in 2022. Skechers is one of only four brands in the apparel industry sector to make the list, debuting at number 488.
Under Armour Confirms Corporate Layoffs In Cost-Control Efforts
Under Armour, Inc. has confirmed reports that it laid off 50 corporate employees as part of its cost-control efforts.
Academy Sports Names New Chief Merchant
Academy Sports + Outdoors Inc. promoted Matt McCabe to executive vice president and chief merchandising officer effective June 25, succeeding Steve Lawrence, who transitioned to CEO. McCabe will report directly to Lawrence.
EXEC: Stalking Horse Bidder Emerges In Rockport Bankruptcy
The Rockport Company’s stalking horse bidder in its bankruptcy auction has signed a purchase agreement that sets the value of the company’s intellectual property and the buyer’s right to purchase the company’s equity interest in certain subsidiaries and puts in place a formula for valuing inventory purchased at closing.
Hunter Boots Falls Into Administration
Hunter Boots, which sold its intellectual property rights to Authentic Brands Group (Authentic) in early June, has gone into administration, the equivalent of bankruptcy in the U.K.
Under Armour Extends Partnership With University Of Texas Rio Grande Valley
The University of Texas Rio Grande Valley (UTRGV) Department of Intercollegiate Athletics extended its partnership agreement with BSN Sports to keep Under Armour the University’s official athletic footwear, apparel and accessory brand through the 2028/29 academic year.
