Levi notified a federal judge in Oakland, California on Tuesday that it was dismissing the case with prejudice, meaning it cannot be brought again. Settlement talks began shortly after Levi sued in January.
Demand for retro shoe styles such as 'terrace' has helped boost sales of sportswear brands like Puma and its rival Adidas at a time when the sector has been hit by weaker consumer demand and excess stocks.
Kenvue beat Wall Street estimates for first-quarter profit on Tuesday, and said it would cut 4% of its global workforce amid the Tylenol and Band-Aid maker’s efforts to expand its key brands.
‘We have been and will always be open to considering opportunities,’ Lorenzo Bertelli told reporters Tuesday at the opening of a knitwear factory in Torgiano, Italy.
Beauty company Coty beat Wall Street expectations for third-quarter revenue on Monday and said it expects to achieve the high end of its annual targets, riding on steady global demand for its luxury and mass-market products.