Articles by DPA
Nike shares up, Adidas and Puma rise too
The US stock market reacted positively to Nike, which also gave the shares of the two German competitors Adidas and Puma a boost on Friday. Nike’s shares rose by almost 10 percent in pre-market trading in the US. In regular trading, this would mean the highest level in more than three months. Adidas’ shares rose by 3.8 percent to 199.40 euros,...
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US makes new offer to EU in tariff dispute
In the trade dispute with the EU, the US submitted a new offer. The European Commission confirmed on Thursday that it had received a relevant US document. It was being reviewed, Commission President Ursula von der Leyen said on Thursday night after an EU summit. "We are ready for an agreement. At the same time, we are preparing for the...
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EU member states aim to significantly dilute supply chain act
EU member states sought to significantly dilute the European Supply Chain Act. A majority of countries voted to apply the human rights protection law only to companies with more than 5,000 employees, instead of the previous threshold of 1,000, the member states announced. In addition, the turnover threshold was to be raised from 450 million...
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EU Commission plans to withdraw greenwashing law
The EU Commission planned to halt a legislative proposal on minimum standards against misleading environmental advertising claims. A spokesperson for the authority in Brussels said the Commission intended to withdraw the proposal. The Commission later provided written reasons: "The current discussions surrounding the proposal run counter to the...
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Guess? and WHP Global closes acqcuisition of Rag & Bone
Guess?, Inc. (GES) and global brand management firm WHP Global announced Wednesday that they have completed the previously announced acquisition of New York based fashion brand rag & bone. Under the terms of the transaction, Guess? has contributed 57.1 million dollars towards the purchase of rag & bone, in addition to contributions from WHP...
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Gildan Activewear names Vince Tyra CEO
Gildan Activewear Inc. (GIL), an apparel manufacturer, Friday announced the appointment of Vince Tyra as its chief executive officer and president, effective February 12. Tyra will take over from the previous CEO and co-founder of the company, Glenn Chamandy, who was ousted from the firm after 20 years at the helm. Previously, Vince Tyra grew...
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Target circle week October 1-7, to hire 100,000 seasonal workers
Target is offering a full week of savings during Target Circle Week, which will be running from October 1 to 7. Ahead of the upcoming holiday shopping season, the retailer also plans to hire nearly 100,000 seasonal team members. Also starting October 1, Deal of the Day program returns with deep daily discounts exclusively for Target Circle...
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HanesBrands confirms interim CFO Scott Lewis as new CFO
HanesBrands, Inc. (HBI) announced Tuesday that Interim Chief Financial Officer Scott Lewis has been appointed Chief Financial Officer, effective immediately. Lewis will also continue in his role as Chief Accounting Officer, a position he has held since 2015. Lewis, a 17-year veteran of HanesBrands with an extensive background in accounting, tax,...
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Abercrombie & Fitch, Kohl's Q1 results top estimates, while Children's Place missed
U.S. retailers Abercrombie & Fitch Co. (ANF) and Kohl's Corp. (KSS) reported on Wednesday results for the first quarter that topped analysts' estimates, with Abercrombie & Fitch raising its outlook for the full-year 2023 and Kohl's affirming its guidance for fiscal 2023. Meanwhile, The Children's Place, Inc. (PLCE) reported results that missed...
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Zalando nominates Kelly Bennett as supervisory board chairperson
Zalando SE (ZLNDY) said that it has nominated its deputy Chairperson Kelly Bennett as its Supervisory Board Chairperson. He would succeed Cristina Stenbeck, who has decided not to stand for re-election. Bennett has been a member of Zalando's Supervisory Board since 2019 and serves as an advisor to the leadership teams of Microsoft, Strava,...
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