Retail and Vendor Business Groups Say Court Erred in China 301 Tariff Case
The NRF, AFAA, FDRA and other business groups urge The U.S. Court of Appeals to reverse judgment and vacate List 3 and List 4A China Section 301 tariffs.
UPS and Teamsters Reach Five-Year Deal, Averting Strike
UPS and the International Brotherhood of Teamsters, representing about 330,000 UPS employees in the U.S., have reportedly reached a tentative collective bargaining agreement.
Life Fitness Hires New Chief Executive Officer
Life Fitness, the maker of commercial fitness equipment, tapped Jim Pisani as CEO effective immediately, with Paul Stoneham transitioning from a senior advisor to the company’s Board of Directors. Most recently, Pisani led the Outdoor & Recreation Business Segment for Newell Brands and was the global president of Timberland.
Academy Sports To Open Store in Fredericksburg, VA
Academy Sports and Outdoors, Inc. will open its first store in Fredericksburg, VA, in the fall of 2023; this is the retailer’s second store in Virginia. The store’s footprint is over 77,000 square feet.
LVMH to Sponsor 2024 Olympic Games in Paris
Luxury brand giant LVMH signed on as a premium partner for the Paris 2024 Olympic and Paralympic Games with its jeweler Chaumet designing the medals and fashion brands Louis Vuitton, Dior, Berluti and Sephora, as well as its Moët Hennessy wines and spirits division marketed during the games.
Paramount Headwear Rebrands to Imperial
Paramount Apparel International rebranded itself and introduced Imperial as its new corporate name. Paramount acquired the Imperial golf headwear brand in late 2012. This change reflects its commitment to the Imperial flagship brand.
Life Time’s Q2 Profits Surge
Life Time Group Holdings, Inc. raised its earnings guidance for the year after reporting a profit against a loss in the second quarter ended June 30 as adjusted operating earnings grew 115 percent. Revenue gained 21.8 percent.
Adidas Ups Full-Year Guidance After Prelim Q2 Results Show Yeezy Sales Bump
Adidas now expects currency-neutral revenues to decline mid-single-digits in 2023, compared to prior guidance of a high-single-digit decline. Adi now expects to report an operating loss of €450 million in 2023 compared to the previously guided loss of €700 million.
Asics North America Names VP of U.S. Sales
Asics North America hired industry veteran Michael Dougherty as vice president of U.S. sales, effective immediately. He has over 15 years of global footwear industry experience, including at Clarks and New Balance.
Gap, Inc. Appoints New Athleta CEO
Gap, Inc. hired Chris Blakeslee as president and CEO of Athleta, effective August 7. Most recently, he was president of sister companies Alo Yoga and Bella+Canvas since 2017.
Report: Adidas Seeing Healthy Demand for Unsold Yeezy Product
Adidas has orders worth more than €508 million ($565 million) for 4 million pairs of unsold Yeezy shoes, exceeding the company’s “most optimistic forecast,” according to a new Financial Times report. Healthy demand for the first batch of online sales could help Adidas avoid a major write-down on its remaining stock.
Golf Rounds Played Climb in June
Rounds of golf played advanced 5.5 percent in June and are running up the same 5.5 percent for the first six months of 2023, according to Golf Datatech.
Report: Adidas Accuses Kanye West of Mishandling $75 Million of Marketing Funds
Adidas is seeking to recover $75 million from Ye, formerly Kanye West, related to his alleged mishandling of marketing funds worth $100 million annually, according to Bloomberg. The dispute is in arbitration.
Canada’s Port Workers Union Recommends Labor Agreement to Members
The International Longshore and Warehouse Union Canada (ILWU Canada) plans to recommend members accept a tentative agreement to end the weeks-long strike at British Columbia’s ports, likely ending a standoff that led to a 13-day strike.
RILA Calls Potential UPS Strike “Kryptonite” for Supply Chains
The Retail Industry Leaders Association (RILA) urged a quick resolution of the stalled contract negotiations between UPS and its 340,000 workers represented by the International Brotherhood of Teamsters, describing a potential UPS strike as “kryptonite for supply chains.”
