The News In Brief
Nike Lays Off Some Workers in Shakeup of Technology Division
The cuts are the latest in an ongoing move to reset priorities and management seeks to execute on a turnaround strategy.
Bath & Body Works Appoints Former Nike Executive Daniel Heaf as CEO
The former Nike chief strategy and transformation officer will assume the new role effective immediately.
British Luxury Exports to EU Lag Due to Brexit, Lobby Group Says
Shipments of UK designer goods to the EU have grown more slowly than they would have otherwise, according Walpole.
US Treasury Secretary Says Walmart Will ‘Eat Some of the Tariffs’ After Trump Demand
The US Treasury Secretary claimed Walmart’s CEO assured him the retailer would absorb some tariffs, contradicting the company’s earlier statement about raising prices last week.
Saks Creditors Form Majority Group Ahead of Potential Debt Talks
The bondholders have organised and hired advisors Lazard Inc. and Paul Weiss Rifkind Wharton & Garrison while they prepare for potential financing talks with Saks Global.
Indian Cosmetics Brand Colorbar Eyes IPO in Early 2027
The cosmetics company expects to double revenue to over $117 million in the fiscal year starting April 1.
System Launches New Bi-Annual ‘System Collections’
The title could provide a handy source of new revenue for the Anglo-French magazine.
Novo Nordisk Ousts CEO After Falling Behind in Weight Loss Market
Jorgensen told Reuters in an interview that he did not see the decision coming, and was only informed very recently.
‘Big Short’ Investor Michael Burry Doubles Stake in Cosmetics Maker Estée Lauder
The US investor’s Scion Asset Management now owns 200,000 shares in the beauty conglomerate valued at $13.2 million.
Mexican Authorities Investigating Murder of Beauty Influencer
President Claudia Sheinbaum said Mexico’s security cabinet will investigate the murder of beauty influencer Valeria Màrquez, who was killed during a TikTok livestream.
LVMH Shares Have Lost Their Lustre
The luxury giant’s stock market valuation is languishing at the bottom of its five-year range, but that still hasn’t proved enough of a markdown to lure back investors.
Christian Dior Couture Client Data Breached in Cyber Attack
LVMH’s second biggest fashion label said an “unauthorised external party” accessed some customers’ data, but not financial information.