Buyout Firm Sycamore Vies to Take Nordstrom Private, Sources Say
Nordstrom shares rose 6 percent on the news, giving the company a market value of about $3.3 billion.
The Trump administration’s latest tariff proposal on goods imported from China has forced the outdoor gear and apparel maker to spend more time managing its supply chain than its sales operations.
Nike has sold out 61 percent more merchandise since the controversial ad campaign featuring former NFL player Colin Kaepernick appeared earlier this month, according to data on the company's online sales from Thomson Reuters.
The former employees said women are passed over for promotions, paid less than their male counterparts and ignored when they complain.
By partnering with the Alyx founder, Nike is joining rivals Adidas and Puma in blurring the lines between its performance and lifestyle offerings.
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"The rollout of Prime Now grocery, a service that delivers products in one-hour and two-hours, should be a game changer."
The Off-White designer has reconstructed 10 iconic Nike models, including the Air Jordan 1, Hyperdunk and AirVaporMax in what some see as a promising ‘comeback’ play for the sportswear giant.
The Space Jam shoe was a bright spot in Nike’s otherwise gloomy quarter, as shares fell amid investor concerns that Nike is losing market share to hard-charging competitors Adidas and Under Armour.
The maker of outdoor gear posted revenue of $717.5 million in the period, which fell short of Street forecasts.
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In an admittedly small survey of CrossFit classes, some 58 percent of participants were wearing sneakers made by Nike Inc.
Competitors such as Adidas AG and Under Armour Inc. are developing new products at a faster clip, making it harder for Nike to keep them at bay.
Nike Inc. sold $1.5 billion of notes, reflecting demand for higher yields than those offered by government bonds.
Nike will stop selling golf equipment, striking another blow to a pastime hurt by slowing participation rates.
Nordstrom shares rose 6 percent on the news, giving the company a market value of about $3.3 billion.
A double-digit decline was attributed to the brand’s distribution changes.
Spatch will debut on May 4 with a nine-piece collection of skin-perfecting products designed for professional and consumer use.
The Danish company, which makes more pieces of jewellery than any other in the world, said organic sales are projected to rise 8-10 percent this year.
Despite a brief uptick in sales, up 24 percent between 2021 and 2022, the brand’s growth has stalled.
The move comes as System owner Mike Obenson aims to turn what began as a bi-annual print title into a global media brand with a stronger digital offering.
Former Under Armour COO Colin Browne has been appointed to lead the industry organisation formerly known as the Sustainable Apparel Coalition.
The company also beat Wall Street targets for third-quarter results, hinting at a recovery in demand for beauty and cosmetic products in the US after a long bout of inflation.