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☆ Adidas sees smaller 2023 loss thanks to Yeezy sales
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

The German company had previously forecast a full-year operating loss of 700 million euros. Operating profit for the second quarter was 176 million euros, down from 392 million a year earlier. Adidas said the potential impact of a Yeezy stock write-off was now 400 million euros, down from 500 million euros expected previously. The shoes' popularity has endured despite Ye's public pronouncements, with Yeezy shoes selling at high premiums on resale sites. Adidas said the rest of its business also did "slightly better than expected" in the second quarter.

Persons: Ye, Bjorn Gulden, Helen Reid, Thomas Escritt, Jan Harvey, Susan Fenton Organizations: Adidas, Kanye, Defamation League, Thomson Locations: BERLIN

☆ Barbenheimer Memes Are an Art Form All Their Own - The New York Times
▼ + stars: | 2023-07-22 | by ( Elizabeth Spiers | ) www.nytimes.com time to read: +2 min

Did the world need Arizona Iced Tea-branded Adidas sneakers marketed for 99 cents? Did they attract so many potential buyers that the New York Police Department had to shut the sale down at the pop-up store selling them? The “Barbie” marketing team absolutely understands this, and the absurd brand-collaboration drops have spread with the speed of the 1854 cholera outbreak in London. There’s a real-world Barbie dream house on Airbnb, Barbie Krispy Kreme doughnuts, Barbie rugs and a Barbie Xbox. Surprisingly, there is no Barbie Pepto Bismol, which seems like a natural fit in terms of existing I.P.

Persons: Robert Oppenheimer, Taylor Swift, Barbie, There’s, Oppenheimer, Barbie ”, “ Oppenheimer, launders Organizations: “ Raiders, Adidas, New York Police Department Locations: Arizona, London

☆ Cadella Marley: Bob Marley instilled a love of football in his daughter. Now she’s changing the lives of women and girls in Jamaica
▼ + stars: | 2023-07-22 | by ( Matias Grez | ) edition.cnn.com time to read: +12 min

“I’m reading it … I’m like: ‘Wait, Jamaica has a women’s football team? Six years earlier, in 2008, underfunding had led to the Jamaican Football Federation (JFF) disbanding the women’s national team program. The women’s team disbanded again in 2016, but Marley never wavered in her commitment to the program. Marley’s work has helped not only improve standards and conditions for players, but also helped shift the country’s attitude towards the women’s national team. Qualifying to the knockouts will be difficult, but more history, this time a first Women’s World Cup win, is a real possibility.

Persons: Bob Marley, Cedella, “ Daddy, ” Marley, “, Ziggy, Steve, Pelé, Cadella, Joe Maher, underfunding, Marley, Ziggy Marley, Damien, –, Cedella Marley, Angela Weiss, ’, Havana Solaun, Khadija ‘ Bunny ’ Shaw, Jamaica's Khadija Shaw, Alfredo Estrella, Hue Menzies, Michael Ricketts, ”, Chinyelu Asher, ’ ” Asher, Asher, Bob Marley's, hasn’t, “ I’d, England’s Lionesses, I’ve, Bob Marley Foundation “, “ It’s Organizations: CNN — Football, CNN Sport, Soccer, Jamaican Football Federation, women’s, Bob Marley Foundation, Jamaica's, Getty, Ajax, Adidas, Friendship Sports, Havana, Manchester City, Super League, CNN, ” Reuters, Jamaica Locations: Jamaica, Caribbean, Amsterdam, Netherlands, Australia, New Zealand, Italy, Brazil, AFP, United States, France, Panama, Fort Lauderdale , Florida, Costa Rica, Kingston , Jamaica

☆ Global retailers cash in on Barbie movie craze
▼ + stars: | 2023-07-21 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

REUTERS/Arriana McLymoreJuly 21 (Reuters) - Shoppers are snapping up Barbie hoop earrings, perfume, jumpsuits, and dresses as retailers seek to cash in on Friday's Barbie film release, reigniting the craze for the plastic doll and her hot pink, sequin-adorned universe. Mattel says the Barbie movie is expected to boost global sales of Barbie dolls, which declined last year from record growth during the pandemic. A Gap Barbie hoodie for women was available only in size XXS online, while a pair of Barbie Crocs, priced at $59.99 - $10 more than normal Crocs - was sold out on the Crocs website. Luggage brand Beis had a waiting list for all three sizes of suitcases in a Barbie pink, priced at a premium to its usual colour range. Walmart pitched Barbie dolls in varying skin tones and hairstyles at $45 to collectors.

Persons: browses, Arriana, Friday's, Barbie, Jo Ashdown, Ryan Gosling, Ken, Zara Barbie, hoodie, Barbie Crocs, Barbie toothbrushes, James Zahn, that's, Helen Reid, Savyata Mishra, Siddharth Cavale, Nick Zieminski Organizations: REUTERS, Mattel, WPP, Walmart, Hyatt Hotels, Hilton, Thomson Locations: Zara's Soho, New York City, U.S, Bogota, Colombia, Kuala Lumpur, Malaysia

☆ Adidas says Kanye West 'mishandled' $75 million of funds that were supposed to be used for marketing the Yeezy collection
▼ + stars: | 2023-07-20 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Adidas is now asking West to return $75 million of marketing funds, per Bloomberg. The rapper previously said he spent $50 million of marketing money on his gospel choir tour. It relates to a marketing fund that was worth $100 million a year, according to court documents seen by Insider. Adidas says $75 million was paid into two Yeezy bank accounts, but Ye and the companies "mishandled virtually all of the marketing funds," by failing to keep it separate and spending on unauthorized purposes, per Bloomberg. In a 2020 interview on Nick Cannon's podcast, Ye said that he spent $50 million of Yeezy marketing funds on Sunday Service — his gospel choir tour that included flights to Jamaica for 120 people.

Persons: Kanye, West, Ye, Nick Cannon's, Valerie Caproni, — Organizations: Kanye West, Adidas, Bloomberg, Service Locations: Wall, Silicon, Jamaica

☆ Inter Miami owner expects Lionel Messi signing to double revenues and franchise value over the next year
▼ + stars: | 2023-07-18 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

watch nowMajor League Soccer's hottest new star is already paying off for Inter Miami. All-time soccer great Lionel Messi's arrival is expected to double the club's revenues over the next 12 months, its managing owner Jorge Mas told CNBC's "Halftime Report." The Argentina national and former Barcelona star joined Inter Miami on Monday. "When we got into the project of Inter Miami, we really did it wanting to be the premier platform for football in the United States," Mas said. Supporters of Argentinian soccer player Leo Messi gather outside the Inter Miami DRV Pnk Stadium, in Fort Lauderdale, Florida, July 11, 2023.

Persons: Lionel Messi's, Jorge Mas, CNBC's, Mas, Forbes, Leo Messi, Marco Bello, David Beckham, Messi's, Messi, Cristiano Ronaldo Organizations: League Soccer's, Inter Miami, Argentina, Barcelona, Miami, MLS, Reuters, Messi, Adidas, Sports, CNBC, Manchester United Locations: United States, Fort Lauderdale , Florida, Barcelona, South Florida

☆ What China's resilient big spenders are buying and the stocks that benefit
▼ + stars: | 2023-07-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

That's approximately how large China's "premium" consumer population is – and it's a "huge" opportunity for higher-end sportswear by foreign companies, according to Bernstein. By U.S. standards, it doesn't take much to be considered premium in China. Adidas and Nike are like Benz, BMW, the highest end, he said, while the other brands are like Audi or Toyota. For Nike and Adidas, even their lowest price is two times that of local competitors, the Bernstein analysts said. However, focusing only on the premium growth segment can overlook the fact that many of China's consumers still live in smaller cities.

Persons: Bernstein, Aneesha Sherman, Li Ning, Irving, Miao Kun, –, Hoka, — CNBC's Michael Bloom Organizations: . Census, Anta Sports, Wednesday, basketball, Adidas, Nike, Benz, BMW, Audi, Toyota, Management, P Locations: China, That's, U.S, Hong Kong, Beijing, Thursday's, Germany, eyeing, Shanghai, Chengdu

With Amazon Prime Day upon us, the flood of clothing deals makes all of us wonder which ones are actually worth spending on. We've collected the best Prime Day clothing deals for men, women, and children, so you can narrow down which discounts will help refresh your closet for less. For more Prime Day savings, check out our roundup of the best beauty deals to see what other exclusive sales we've found. Best Prime Day deals on athleisure and workout clothesAmazon carries an impressive array of performance wear from the top brands. On select sizes and colors, you can get up to 60% off, the lowest Prime Day price to date.

Persons: We've, Price Calvin Klein, Calvin Klein racerback, Grey Heather, Levi, Ellie, that'll, henley, it's, Martens, Steven Madden, Kenneth Cole, we've, Herschel, JW Pei, Vera Bradley Microfiber, Vera, Michael Kors Parker, Michael Kors Organizations: Amazon, Adidas, Prime, Amazon Deal, Chelsea, Columbia, Herschel Supply, Michael Kors Parker Stainless Steel Locations: Italy, Colombia

Prime Day 2023 ends tonight and we're still working hard to round up all the best deals of day 2. Down to $164.99, this Prime Day price matches the record low we saw for Black Friday. On select sizes and colors, you can get up to 60% off, the lowest Prime Day price to date. Even with a newer C3 model out this year, this remains a better value, especially at this current Prime Day deal price. This Prime Day deal is the best price we've ever seen, and it's only available by invite for Prime members during Amazon Prime Day.

Persons: we're, we've, snagging, We're, I've, Sarah Saril, you've, we'd, We've, they're, it's, Amazon’s, eero, You'll, Apple, Bose, AirPods, Price, Price Roku, Dolby, Max, Price Casper, Casper, Coop, it’s, It's, Rich, wicks, Price Bowflex, Garmin Venu, Venu, you’ve, Luna, Riley C.E.O, Sunday Riley, It’s, Murad Retinol, Kit Burt's, Kit, They're, Snuggies, Elaine Benes, Kenneth Cole, Steven Madden, Martens, Ray Bans, Vines, Price Calvin Klein, Calvin Klein racerback, Grey Heather, Now's, JW Pei, Price Honeywell, Price Apple, Price Arlo, we’ve, fryer, Bento, bento, you'll, LaCroix, seltzer, Foodi, Fryer, Pro Air Fryer, Price Dyson, Dyson, Hoover, Decker, Bissell, Price Dell, Price LG, Ed, Swift, Zelda, Price Hori, Con Organizations: Tech, Apple, Amazon, Prime, Black, Alexa, Amazon's, Echo Studio, Music, Price Apple, Price Sony WH, Sony, Samsung, LG, Walmart, Casper, Health, Bands, Price Garmin, Garmin, OSHA, Optimum, Theragun's, Amazon Prime, Sunday, Panasonic, frizz, Amazon Deal, GAP, Adidas, Chelsea, Deal, Navy, Columbia, Honeywell, Energy, Steam, IRIS, GE, Oster Digital, Fryer, Oster, OmieGo, ICE, Pro Air, ICM, Deal LG, Fire, Price LG, PlayStation, Google, Price NVIDIA, HP, Price Samsung, MacBook Air, Asus, Mobile, Lenovo, Intel, AMD, Monitor, Seagate, Dell, Monitor Samsung, ASUS, Gaming, EA Star Wars, Star, Nintendo, Gray, Super Nintendo Entertainment Locations: Siena, Birch, Sol, Colombia, Cha Kyusu, sharpener, Whynter, it's, It's

Down to $164.99, this Prime Day price matches the record low we saw for Black Friday. $10.14 from Amazon Originally $25.00 Save 59%Prime Day deals: StyleWe've got you covered for head-to-toe deals across the fashion world today. This Prime Day deal is the best price we've ever seen, and it's only available by invite for Prime members during Amazon Prime Day. $12.99 from Amazon Originally $23.99 Save 46%More Prime Day dealsDeal icon An icon in the shape of a lightning bolt. You'll also get a bonus of $10 with this Prime Day deal when you use the code "HAPPY" and spend $50.

Persons: we've, snagging, We're, you've, we'd, We've, they're, it's, Amazon’s, eero, You'll, Apple, Bose, AirPods, Price, Price Roku, Dolby, Max, Price Casper, Casper, Coop, it’s, It's, Rich, wicks, Price Bowflex, Garmin Venu, Venu, you’ve, Riley C.E.O, Sunday Riley, It’s, Murad Retinol, Kit Burt's, Kit, Kenneth Cole, Steven Madden, Martens, Vines, Herschel, Price Calvin Klein, Calvin Klein racerback, Now's, JW Pei, Price Apple, Price Arlo, we’ve, Bento, bento, you'll, LaCroix, seltzer, Foodi, Fryer, fryer, Hoover, Decker, Dyson, Bissell, Zelda, Price Hori, Con, Ed, Collar, Gray, Inaba, Brown Rice, Robin Organizations: Apple, Amazon, Prime, Black, Alexa, Amazon's, Echo Studio, Music, Amazon Deal, Price Apple, Samsung, LG, Walmart, Casper, Health, Bands, Price Garmin, Garmin, OSHA, Optimum, Theragun's, Amazon Prime, Sunday, Panasonic, frizz, Adidas, Chelsea, Herschel Supply, Deal, Navy, Columbia, Energy, Steam, IRIS, GE, OmieGo, ICE, Quart, ICM, Deal LG, Fire, Price LG, PlayStation, Google, Price NVIDIA, Computers, Gaming, Nintendo, MacBook Air, Asus, Mobile, Lenovo, Intel, AMD, Monitor, Seagate, Dell, Monitor Samsung, Gray, Super Nintendo Entertainment, ASUS, Buffalo, Pets, Deal Samsung Galaxy, Galaxy, Fujifilm, Marvel, Deal Indiana Jones, Indiana Jones, — Raiders Locations: Siena, Birch, Sol, Colombia, Cha Kyusu, sharpener, Whynter, it's, It's, Kingdom

☆ Look of the Week: Does Jannik Sinner’s Gucci duffle bag signal a shift at Wimbledon?
▼ + stars: | 2023-07-11 | by ( Leah Dolan | ) edition.cnn.com time to read: +5 min

CNN —On Monday July 3, Italian tennis star and Men’s Singles contender Jannik Sinner arrived on the center court at Wimbledon with a custom Gucci duffle bag slung across one shoulder. Sinner became a brand ambassador for Gucci last year. The next generation of tennis players are even experimenting with jewelry: Russian player Andrey Rublev is known to layer several silver pendants, while Nick Kyrgios is rarely seen without his double hoop earrings. Permission for the highly-engineered moment was granted after a lengthy approval process involving the International Tennis Federation, Association of Tennis Professionals and Wimbledon. As Sinner told Women’s Wear Daily, “(This bag) will create a conversation.”

Persons: Jannik Sinner, Gucci, Elsa Schiaparelli, Lili de Alvarez, Lea Pericoli, Teddy Tinling, Sinner, Clive Brunskill, Serena Williams, Emma Raducanu, Dior, Arthur Ashe —, Wimbledon —, Arthur Ashe's, Tony Triolo, Bjorn Borg, Babe Ruth, Fila, Pat Cash, Andre Agassi, Chris Cole, Anna Wintour, Carlos Alcaraz, Louis Vuitton, Calvin Klein, Andrey Rublev, Nick Kyrgios, Sinner’s Gucci, it’s, Kyrgios, Women’s, ” Organizations: CNN, Wimbledon, Tiffany’s, Adidas, Nike, Rowing Blazers, Getty, Vogue, International Tennis Federation, Association of Tennis Professionals, Air Jordan Locations: Italian, Wimbledon

Another 25% will come from "next-generation" materials in which the group is investing, and the remaining 10% from other sustainable sources, the company said. The new targets come as the European Commission is drawing up regulations to make clothing retailers pay for the waste they produce, arguing that fast-fashion companies "encourage customers to shop impulsively and incentivise purchasing larger quantities of clothes". Inditex previously had targets to use more sustainable cotton, linen, polyester, and fibres made from wood pulp, but did not have an overall goal for recycled fibres. Shoppers walk past a Zara clothes store, part of the Spanish group Inditex, in Las Palmas de Gran Canaria, Spain, December 13, 2022. REUTERS/Borja Suarez/File Photo"Moving forward on sustainability is natural for us," said Inditex Non-Executive Chair, Marta Ortega, in brief comments to investors at the AGM.

Persons: Inditex, Oscar Garcia Maceiras, Borja Suarez, Marta Ortega, Ortega, Adam Gofton, Corina Pons, David Latona, Helen Reid, Andrei Khalip, Mark Potter, Sharon Singleton Organizations: Companies Zara, European Commission, Las Palmas de, Las Palmas de Gran Canaria, REUTERS, Mackenzie Investments, Thomson Locations: MADRID, LONDON, Zara, Spanish, A Coruna, Spain, Las Palmas, Las Palmas de Gran, Toronto, Inditex, Madrid, London

☆ Fact Check-2022 World Cup final match ball not being investigated by FIFA, Interpol or ICC
▼ + stars: | 2023-07-07 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

The match ball used in the 2022 men’s FIFA World Cup final is not being investigated by the International Criminal Court (ICC), Interpol or FIFA, contrary to posts saying otherwise online. “The ICC is not involved in these alleged matters,” an ICC spokesperson told Reuters via email. “Interpol does not open or conduct investigations itself – investigations are necessarily led by national authorities,” a spokesperson for the Interpol General Secretariat added. Images used in the social media posts of World Cup footballs with chips in them show Adidas’ connected ball technology, which provided match officials with real-time data to support with in-game decisions, such as offsides (here). None of the three cited organisations are investigating the 2022 men’s FIFA World Cup final match ball.

Persons: “, ”, Read Organizations: FIFA, International Criminal Court, ICC, Interpol, Reuters, Facebook, France, Adidas Locations: Argentina

☆ Meet the 91-year-old grandfather booking major fashion campaigns
▼ + stars: | 2023-07-04 | by ( Jacquelyn Palumbo | Jacqui Palumbo | ) edition.cnn.com time to read: +5 min

Celine van HeelCNN —He’s louche and sun-kissed, effortlessly cool and 91 years old. Today, with a sizable social media following and major campaigns for Zara and adidas under his belt, The Spanish King is one of the oldest working models in Europe. Celine van Heel began photographing her grandfather while staying with him during Covid-19 lockdowns. “His look, the way he looks at the camera — it’s simple, but it really defines him,” van Heel said of the image. Van Heel believes her grandfather is the perfect example of why no one should feel the need to act their age.

Persons: Celine van Heel, He’s, Carro —, Caro, “, ” van Heel, Celine, ”, Celine van, van, Garcia, ” Schott, Van Heel, she’s, “ He’s, …, Heel, Carro, Van, —, he’s, tans, ” Van Heel, Carmen Dell’Orefice, Guo, Iris Apfel Organizations: Schott NYC, Celine van Heel CNN, Zara, adidas, Gran Canaria, moto, Schott Locations: Spanish, Europe, Covid, Spain, Argentina, Uruguay, Zara, Paris

☆ Lionel Messi’s Inter Miami contract worth between $50 to $60 million per year, according to club’s part-owner
▼ + stars: | 2023-07-03 | by ( Matt Foster | ) edition.cnn.com time to read: +2 min

CNN —Argentine soccer superstar Lionel Messi is to earn between $50 and $60 million per year when he joins Inter Miami, the club’s part-owner Jorge Mas told Spanish publication El Pais in an interview. The lower of those figures would make Messi the highest-paid player in Major League Soccer (MLS) by over $40 million, according to sports salary tracker Spotrac. According to that site, Xherdan Shaqiri currently earns the most in the league with an annual wage of $8,153,000. Mas named Jordi Alba and Luis Suarez as players the team had talked to, as well as Messi’s compatriot Angel Di Maria, most recently of Juventus. Messi is reportedly due to make his debut for the club on July 21 against Mexican side Cruz Azul.

Persons: Lionel Messi, Jorge Mas, Messi, Xherdan Shaqiri, Cristiano Ronaldo, Mas, El, Jorge, David Beckham, Messi “, Sergio Busquets, ”, Jordi Alba, Luis Suarez, Angel Di Maria Organizations: CNN, Argentine, Inter Miami, El Pais, Major League Soccer, Forbes, MLS, Apple TV, Adidas, Apple, El, Messi, Barcelona, Juventus, Cruz Azul Locations: Spanish, Saudi Arabian, El Pais, Messi’s, Mas, Barcelona, Cruz

☆ 3 strategies to make TikTok and YouTube videos go viral, according to a creator with over 6 billion views
▼ + stars: | 2023-07-03 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

He's built a formula to make short-form videos go viral after working with other creators for years. This as-told-to essay is based on a conversation with Brandon Baum, a short-form content creator. One of my YouTube videos, "Turning Statues into Food," has almost 750 million views. After six years of creating short-form video content, here are my top-three tips to make videos that go viral. One creator that does this well in his short-form videos is MrBeast.

Persons: Brandon Baum, He's, Woody, Kleiny, I'd, we'd, you've, Guy Organizations: YouTube, Facebook, Sky, Adidas, Pixar Locations: TikTok

The pan-European STOXX 600 index (.STOXX) closed 1.2% higher. European shares still advanced 8.7% in the first six months of the year. Miners (.SXPP) were a big drag this quarter, down 9.2% as worries around top metals consumer China weighed heavily on metal prices. The real estate sector (.SX86P) rose 1.7%, buoyed by 4.3% gains in shares of LEG Immobilien (LEGn.DE) after the German firm raised its 2023 outlook. Shares in Adidas (ADSGn.DE) and Puma (PUMG.DE), which had fallen earlier on Nike's (NKE.N) dour forecast, reversed course to rise 2.5% and 3.3%, respectively.

Persons: Melanie Debono, Hubert de, Amruta Khandekar, Matteo Allievi, Varun H, Eileen Soreng, David Evans Organizations: European Central Bank, Pantheon, ECB, Capital Economics, MIB, Miners, Adidas, Puma, Thomson Locations: Europe, U.S, Hubert de Barochez, China, Bengaluru, Gdansk

☆ European shares climb on China stimulus hopes; inflation data in focus
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

June 30 (Reuters) - European shares rose on Friday as lacklustre data on China's factory activity spurred hopes of more policy stimulus, while investors awaited key inflation readings for more clues on the direction of global interest rates. The pan-European STOXX 600 index (.STOXX) was up 0.3% by 0703 GMT. Miners (.SXPP) gained 0.7%, tracking metal prices higher as a decline in China's factory activity boosted expectations of more economic stimulus from the country. Personal Consumption Expenditure (PCE) data for May as well as preliminary figures on euro zone inflation later in the day. Among individual stocks, shares of sportswear makers Adidas (ADSGn.DE) and Puma (PUMG.DE) were down 1.7% and 0.3% respectively, after Nike's (NKE.N) gloomy forecast.

Persons: Amruta Khandekar, Varun Organizations: Miners, Energy, Adidas, Puma, Thomson

☆ H&M to grow third-party brand strategy as online rivalry intensifies
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, June 29 (Reuters) - H&M (HMb.ST) plans to sell more third-party brands online and in stores, CEO Helena Helmersson said on Thursday, as one of the world's top fashion retailers ramps up its effort to take on e-commerce rivals. Its marketplace strategy, launched last year, is aimed at challenging online rivals like Zalando, ASOS, and fast-fashion giant Shein as competition intensifies. Inditex-owned (ITX.MC) Zara features other brands only for exclusive collaborations, such as with South Korean label Ader Error and British shoemaker Clarks. "This has been really well received by customers who also complement the H&M assortment with other brands," Helmersson said. "Inditex's thinking is focused on its own brands, own stores and own online," said Lowery.

Persons: Helena Helmersson, M's, Zara, Clarks, Helmersson, Geoff Lowery, Inditex's Zara, Lowery, Marie, Helen Reid, Josephine Mason, Emma Rumney Organizations: Adidas, South, Marie Mannes, Thomson Locations: STOCKHOLM, Cos, Swedish, Monki, Hong Kong, Stockholm, London

At least seven analysts trimmed their fiscal 2024 expectations for Nike's earnings per share since the beginning of June and 10 slashed their price targets on the company's stock, ahead of its fourth-quarter results. "Coming into this current calendar year ... wholesale orders are weak at the moment," said Morningstar analyst David Swartz, adding that declines in these orders will have a negative impact on Nike. Reuters GraphicsTHE CONTEXTIn March, Nike warned of earnings pressure amid its attempts to get rid of excess inventory through heavy discounts. In May, retailer Foot Locker, which has touted its 'renewed' relationship with Nike, also flagged declining sales, particularly for fashion-oriented sneakers. Barclays analysts noted Nike could see "moderation, and potentially negative, wholesale channel growth" in the fourth quarter.

Persons: David Swartz, Jane Hali, Jessica Ramirez, Kanye, Ananya Mariam Rajesh, Krishna Chandra Organizations: Nike, Wall, Associates, Adidas, Jordan Retro, LeBron, Nike Brand, Barclays, Reuters, Refinitiv, Thomson Locations: United States, China, Bengaluru

☆ Allbirds is trying to win back Silicon Valley with a weird sock shoe
▼ + stars: | 2023-06-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

The jumbo logo badge serves a key role in offsetting the shoe's carbon impact, the company said. AllbirdsLike every aspect of the shoe however, the company said the badge serves an important function in attaining a net-zero carbon rating. A typical pair of running shoes generate about 30 pounds of CO2. AllbirdsWith the M0.0nshot, Allbirds said it takes this number down to zero, which is why "0.0" is featured in the name of the shoe. The company hasn't shared pricing, but interested sneakerheads can sign up on Allbird's website to the the first to know.

Persons: Allbirds, Tim Robinson's, Tom Nikic, Jamie McLellan, We've Organizations: Service, bros, Global Fashion, MIT, Adidas, Wedbush Securities Locations: Copenhagen

☆ Arsenal, Belgian FA among winners selected by UEFA for social change work
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

June 27 (Reuters) - UEFA announced the inaugural recipients of their "FootbALL Awards" on Tuesday, recognising the contribution to social change, given to Belgium's Football Association, the German Football League, Arsenal and former France player Lilian Thuram. The "FootbALL" programme, launched by UEFA at the Champions League final earlier this month, highlights the power of football to drive positive social change across European communities. The Belgian FA (RBFA) was one of the first national associations to establish a comprehensive football social responsibility strategy. The German Football League (DFL) has been recognised for continuous fight against discrimination and for their activities during International Weeks Against Racism, UEFA said. "Their work showcases the importance of leading by example, which is exactly what the FootbALL programme represents," said UEFA Director of Social & Environmental Sustainability Michele Uva.

Persons: Lilian Thuram, Uva, Anita Kobylinska, Christian Radnedge Organizations: UEFA, Belgium's Football Association, German Football League, Arsenal, Champions League, Belgian FA, Adidas, Social, Environmental, Thomson Locations: France, London, Frankfurt, Germany, Gdansk

☆ Boycotts rarely work — but anti-LGBTQ+ backlash is forcing companies into tough choices
▼ + stars: | 2023-06-22 | by ( Stefan Sykes | ) www.cnbc.com time to read: +11 min

For companies like Target and Disney, it is unclear if boycotts will hit sales. The company said it has not changed any policy on decorations and is encouraging stores to celebrate Pride Month. Despite the mounting headlines and sustained criticism of Bud Light, corporate boycotts are "overstated," and those offended by campaigns tied to Pride Month are in the "minority," Ellis said. Bud Light appears to be an outlierIn April, the brewer ran a March Madness promotion with trans influencer Dylan Mulvaney, who shared a customized Bud Light can on Instagram. Justin Sullivan | Getty ImagesIt isn't just Bud Light — brands across the board are facing calls to boycott their goods or services.

Persons: Gene Kim, Bud Light, Anson Frericks, Starbucks baristas, Sarah Kate Ellis, Ellis, Dylan Mulvaney, Brendan Whitworth, — Alissa Heinerscheid, Daniel Blake —, Bump Williams, Busch, Frericks, Bud, Marcel Marcondes, Marcondes, Justin Sullivan, Jack Daniel's, Lawrence Glickman, Glickman, baristas, hasn't, Disney isn't, Ron DeSantis, Lindsey Roeschke, Brayden King, King, David Cliff, Nurphoto Organizations: Anheuser, Busch, Target, Disney, Starbucks, Pride Month, Target's, Pride, GLAAD, Mulvaney, CNBC, Gay, Chamber, Commerce, Cannes Lions International, Creativity, Brands, Kohl's, Nike, Adidas, Ford, Associated Press, American Studies, Cornell University, Consumer, Walt Disney Co, Florida Gov, Brand Intelligence, Morning, Northwestern University, Getty Locations: U.S, America, San Francisco , California, Oklahoma, Florida

☆ Retailers Shein and Temu violate U.S. tariff law and evade human rights reviews on imports, House report says
▼ + stars: | 2023-06-22 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — A House committee exploring economic competition between the U.S. and China on Thursday released a damning report connecting retail giants Shein and Temu to a disproportionate number of import violations. Lawmakers argue the tariff violations give Temu and Shein unfair advantages over U.S. retailers. Both companies have faced allegations of human rights abuses: Shein for alleged forced labor in its supplier factories in the Uyghur region and Temu for allegedly failing to develop compliance with the Uyghur Forced Labor Prevention Act, the committee reported. Temu and Shein did not immediately respond to a request for comment on the report. Temu has previously said it is "not the importer of record with respect to goods shipped to the United States," and Shein has denied allegations of forced labor.

Persons: WASHINGTON, Shein, Mike Gallagher, Temu Organizations: U.S, Chinese Communist Party, Nike, Adidas, Uyghur, Labor, U.S . Customs, Wisconsin Republican, House CCP Committee Locations: China, U.S, Wisconsin, United States

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