LONDON – Worse-than-expected economic figures in November might have been a bigger driver behind the relaxation of China’s strict “zero dynamic” COVID-19 rules than the public protests were. On Thursday, China reported November economic data that missed expectations across the board. Retail sales were down 5.9% last month year-over-year, the National Bureau of Statistics revealed. The […]
The assignment was simple: wear your best kicks, dress to impress, and come ready to dance. And 200+ teenagers did just that at the Valley Relics Museum in Van Nuys, Calif., on Dec. 3. The fundraiser, curated by Private School Village’s (PSV) High School Council, included a DJ, sneaker contest, 3-D photo booth, sweet and savory […]
Stocks fell sharply on Thursday after new data released today showed that retail sales slowed in November. The declines also came one day after the Federal Reserve rose interest rates to a 15-year high. As of the closing bell on Thursday, the Dow Jones Industrial Average fell 764.13 points, or 2.25%, to 33,202.74 — in its worst […]
Capri Holdings recently shared new details about its work to give back to social causes it believes in. The fashion company, which owns Michael Kors, Jimmy Choo and Versace, shared its 2022 Corporate Social Responsibility (CSR) report on Thursday, which highlights Capri’s work related to philanthropy, human rights, diversity and inclusion, climate change and environmental sustainability […]
Employees at a Macy’s store in San Francisco, Calif. are heading towards a potential strike on two of the most crucial shopping days in the holiday season after failing to come to an agreement on a contract with management. Members of the UFCW Local 5 union on Tuesday rejected a contract offer from Macy’s, which now allows the bargaining […]
Consumers are expected to return more than $816 billion worth of retail merchandise purchased in 2022, up from $761 billion last year, according to a report released on Wednesday by the National Retail Federation (NRF) and Appriss Retail. As retail sales continue to grow, the average rate of return has remained flat at 16.5% compared with 16.6% in […]
Atlanta Shoe Market is continuing its growth into 2023 by already declaring it’s sold-out. “We have never sold out this early in the 40 years that I’ve worked here,” Atlanta Shoe Market executive director Laura Conwell-O’Brien told FN. “We typically hit this mark right before the show opens, not two months before it’s set to start.” Now, […]
Responding to the demand for its U.S. Made footwear, New Balance is expanding its manufacturing facility located in Skowhegan, Maine, with plans to double production capacity and add more than 200 new jobs to the center. The sneaker company said in a Tuesday presentation with Skowhegan’s Board of Selectman, which was shared with FN, that […]
Omar Bailey, the former head of the Yeezy-Adidas Innovation Lab, is gearing up to launch BIPOC-led, L.A.-based footwear prototyping lab and venture studio FCTRY LAb with an initial $6 million tranche round of financing. According to the company, the funding comes from a diverse group of venture capital firms, top professional athletes and angel investors including the […]
Crocs and Adidas have been named in two separate class action lawsuits alleging that both brands violated consumer privacy laws. Both lawsuits, filed in late November by the same lawyer with two different lead plaintiffs, accuse the brands of violating the California Invasion of Privacy Act, which prohibits people and businesses from wiretapping or confidentially recording […]