The News In Brief
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.
As Rolex Shrinks Retail Near New NYC Flagship, Patek Philippe Expands
Wempe will end its partnership with Rolex at the end of 2025 and partner with Patek Phillippe to open a showroom next year.
LVMH Relinquishes Place Among Europe’s Top Five Biggest Stocks
The French conglomerate’s shares fell 3 percent on Thursday, taking their decline this year to 25 percent.
Chanel Spent $133 Million on Paris Building Near Flagship Store
The luxury fashion house splurged on a property near its main boutique in Paris last year as ‘part of the record level of investment made during the year, including in real estate,’ a representative said.
Cascale CEO Colin Browne Steps Down After Year in Role
A search to find a new leader for the influential sustainability-focussed trade group is underway.
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.
Ralph Lauren’s Quarterly Results Beat Estimates on Steady Demand
Savvy marketing and investments into brands like Polo and Purple Label have helped the brand attract younger and less price-sensitive shoppers.
Urban Outfitters Beats Analyst Expectations Off Strong Sales Growth
The apparel company’s sales rose 10.7 percent to $1.33 billion in its second straight quarter of strong revenue gains.
LVMH Said to Signal Continued Weakness on China Woes
The French luxury behemoth is warning investors and analysts that demand remains soft this quarter amid lacklustre consumer confidence, particularly in China, sources told Bloomberg.
UK’s JD Sports Falls on Lower Sales, US Tariffs Warning
The British sportswear retailer reported first-quarter sales fell 2 percent and cautioned that higher prices in its US market due to tariffs could affect consumer demand.
VF Rushing US Imports to Beat Tariffs, Outlook Miss Sinks Shares
The Timberland- and Vans-owner reported operating loss of as much as $125 million this quarter.