Vietnam Ducks Trump Tariffs
The Trump Administration declined to impose punitive Section 301 tariffs on the major source of sneaker imports, even after the U.S. Trade Representative found that Vietnam took unreasonable actions to devalue the dong.
Crunching the raw data from the U.S. Census Bureau, the National Retail Federation said that retail Holiday season sales grew an unexpectedly high 8.3% year-over-year to $789.4 billion.
Sales at Super Retail Group’s sporting goods banner increased 15% to A$624 million ($446 mm) in the 26 weeks ended Dec. 26, including a +17% comp and a 102% increase in online sales, which is expected to generate EBIT of A$99 to A$100 million.
The footwear manufacturer reported a 19% revenue drop to $275.9 million in Q4 from $339.9 million the year before, ending the year with sales of $1,117.1 million, down 27% from 1,530.3 million in 2019.
Globe International revenues were up about 60% year-over-year to A$125 million ($89 mm) in the fiscal first half ended Dec. 31.
Sporting Goods/Hobby/Book and Music Store adjusted revenues climbed 15% in the final month of the year to $7,626 million from $6,620 million last year, according to Commerce Dept. data, as Dec. capped a string of double-digit increases that began in May.
Less than a month after settling trademark infringement claims with the streetwear designer over his Dunk-inspired sneaker concepts, the Eager Beavertons have now filed suit against his supplier La La Land Production & Design.