June 12, 2023
Fake products accounted for one-fifth of the items rejected by its verification methods, the e-commerce platform revealed in its Big Facts: The Verification Report, which covers the twelve months ended May 31, 2023.
The Italian rugged footwear company’s consolidated sales increased 26% to €169 million ($178 mm) for 2022, up from €134 million the year before, with EBITDA growing 14% to €21.5 million ($22.6 mm) from €18.8 million, Pambianco reported.
Total revenue at the Chinese footwear manufacturer and retailer was down 8% in May to $701,016,000 from $757,993,000, hit by soft demand and elevated inventory levels.
The Chinese sportswear giants, which are both traded in Hong Kong dollars on the Hong Kong Stock Exchange, have now added yuan renminbi counters and will trade in both currencies.
Peloton and three of its executives were hit with a proposed class action suit filed in E. NY district court by Sam Solomon on behalf of shareholders, accusing the connected fitness company of intentionally misleading investors over last month’s seat post recall.
Footwear industry veteran Stanley Kravetz, whose long career including leading Timberland, Rockport, Frye, Geox USA and Thorlo, passed away on June 8 at the age of 90.