The News In Brief
Exclusive: Bata Group Names Panos Mytaros as New CEO
The former boss of Danish footwear brand Ecco will join Bata in September, taking over from Sandeep Kataria.
Kering Shares Surge as Renault CEO Set to Join for Turnaround
Luca de Meo will be appointed to the job in the coming days, sources told Bloomberg.
Port of LA Imports Drop 19% in May as Tariffs Hit US Businesses
The drop in port activity came as importers and retailers — especially those with business in China — grappled with the uncertainty of Trump’s trade war.
US Consumer Sentiment Jumps as Inflation Expectations Improve
The increase in the sentiment gauge is the first this year and shows less anxiety surrounding President Donald Trump’s protectionist trade policy.
Shein’s Planned Hong Kong Listing to Benefit From Wider Capital Pool, Analysts Say
Shein’s shift to a Hong Kong IPO aims to overcome Western scrutiny of its supply chain, while attracting Asian and emerging market investors.
Comme des Garçons Opens First Latin American Flagship
The store in São Paulo, Brazil, will serve as the launchpad for the brand’s regional expansion.
Lead EU Lawmaker on Sustainability Laws Proposes More Cuts
A European Parliament member is pushing for further reductions in the number of companies subject to EU environmental and corporate sustainability rules, aiming to boost European competitiveness by cutting compliance costs.
Outdoor Voices’ Founder Raises Series A for New Start-Up
Ty Haney’s social shopping platform Try Your Best, which counts Rare Beauty and Glossier as clients, raised an $11 million Series A as brands rev up their community building strategies.
Zara Owner Inditex Posts Slowing Growth
The fast fashion giant reported a muted start to the second quarter and warned that foreign-exchange fluctuations could have a greater impact on results this year than anticipated, sending shares tumbling.
Elizabeth Paton to Succeed Lauren Indvik as FT’s Fashion Editor
Paton will oversee the Financial Times’ fashion and style coverage, as well as its annual Business of Luxury Summit. “I won’t be afraid to publish stories that elicit strong reactions and start big conversations,” she said.
Victoria’s Secret Turnaround Takes Hit on Quarterly Forecast Miss
CEO Hillary Super’s first year at the helm has been hampered by outside forces, including US tariffs on imports from Asia, weakening consumer spending and a major investor pushing for board changes.
Trump Tariffs Can Stay in Effect Longer, Appeals Court Says
In a win for the US president on one of his signature economic policies, the US Court of Appeals extended an earlier, short-term reprieve for the administration as it presses a challenge to a lower court ruling last month that blocked the tariffs.