Gap Inc. is the latest retailer to announce a new round of jobs cuts. The apparel retailer will cut hundreds of roles from its global workforce as it undergoes a restructuring process, The Wall Street Journal reported, citing people familiar with the situation. FN has reached out to Gap for a comment. According to the … Read more
Skechers and Brooks are embroiled in another legal spat. Brooks last week filed a suit accusing Skechers of trademark infringement. The lawsuit, which was filed Thursday in a Washington District Court, takes issue with Skechers’ use of the word “Beast” on its shoes. Brooks, which sells a sneaker model called “Beast” and features this word … Read more
Crocs Classic Clog CROCS Crocs Inc. says it will take longer than initially anticipated to become a net zero company. In the company’s 2023 ESG report, dubbed its Comfort Report, Crocs updated its commitments to becoming net zero and said it now expects to complete this milestone by 2040. In July of 2021, Crocs said it … Read more
The footwear market slowed in the first quarter of 2023 as demand softened and warmer weather impacted boot sales, according to new data from Circana (formerly IRI and The NPD Group). Beth Goldstein, footwear and accessories analyst at Circana, told FN in an interview that there was a decline in unit sales in the first quarter, but … Read more