May 19, 2023
Falling revenues and shrinking margins pushed net income 73% lower in the first quarter to $36 million from $133 million, as the top line tumbled 11% to $1,931 million from $2,178 million including a 9.1% drop in comp store sales.
The Big a said that it will begin selling some of the remaining Yeezy inventory at the end of May, with a significant amount of the proceeds being donated to select organizations that work to combat discrimination and hate.
LULU will take a minority stake in the Australian environmental technology startup, which aims to produce the world’s first infinitely recycled nylon 6.6 and polyester.
Italian-based JV International, the technical sole maker and worldwide licensee for Michelin Soles, is expanding its U.S. presence with the opening of a new office headquartered in VT, as it aims to strengthen its position by being closer to its local customers.
The champion surfer and serial entrepreneur launched a new direct-to-consumer footwear brand, KLLY, with its first style the New Moon flip flop sandal available in the US and Canada.