Business U.S.

Lululemon accused Costco of selling prohibited version of its 128$ pants and plenty of other high-priced athleisure clothes. Lululemon’s filed lawsuit on Friday reads Costco has illegally exploited athleisure brand’s reputation, goodwill and sweat equity by offering uncertified clothing for sale using imitation, breaching versions of its 128$ pants and other pricey products. Particularly, the Vancour-based athletic apparel maker said that the Costco’s private-label line is selling similar products such as pants, hoodies, and jackets at extremely lower prices. The retailer allegedly says Costco actually confused consumers into believing that the authentic suppliers of the genuine products are trading branded dupes to Kirkland. Lululemon put content as evidence in the 49-page lawsuit to show the alleged design similarities of its clothing with Costco’s and distinguish the price differences as well. Lululemon’s Scuba hoodie is represented in the lawsuit as an example sells for $118 ...

  ·        Nike charted up investor confidence, saying in statement that Its turnaround plan created largest financial impact is now diminished. It confirms that the stabilized company’s results are on the way. ·        Nike’s fiscal fourth-quarter results prompted a bunch of Wall Street banks, including HSBC, in the next morning of release to lay out an optimistic commentary on the stock. As some say its best strategies are leading to the progress. ·        The company is still crippling to assert its return to growth even though Nike’s turnaround is seemingly reviving. The company said that it endeavored to obtain an average fiscal fourth-quarter earnings report. That statement hiked the Nike stock 17% on Friday. Nike ensured again on Thursday its turnaround plan will financially lead the way to huge benefits during the quarter, softening investors’ surge of anxiety about President D...

  ESPN has extended its media rights agreement with the Premier Lacrosse League till 2030. Including all PLL regular-season games with All-Star, playoff and championship games, the five-year agreement would be kicking in with 2026 season. ESPN, owned by Disney, confirmed it would get minority stake in the league.     Disney owned ESPN resumed its media deal with Premier Lacrosse League as it gets an equity stake in the organization. The 2026 season would kick in five-year deal that includes PLL regular-season games with All-Star, playoff and championship games. The deal prompts as pro lacrosse perceived advantages across broadcaster, partnerships and attendance. Its addition to the 2028 Olympic Games is also expected. The deal lays out that ESPN will get a minority stake in the league. The investment will seek a 3% stake for ESPN, a person familiar with the terms said on anonymity’s conditions to reveal the information. ESPN specialized in understanding of s...

  ·        DoorDash made an announcement of the $1.2 billion all-cash acquisition of restaurant booking platform SevenRooms. ·        Deliveroo, a British food delivery company, also put out a takeover deal from DoorDash worth $3.9 billion. ·        The reported first-quarter revenue of DoorDash fell short of expectations. With the report of first-quarter revenue falling short of expectations, DoorDash disclosed the $1.2 billion acquisition of restaurant booking platform SevenRooms. DoorDash’s share tumbled 5% as a result of the news. Here is how the company did, based on LSEG predictions: ·        Earnings per share: 44 cents vs. 39 cents expected ·        Revenue: $3.03 billion vs. $3.09 billion expected DoorDash said the all-cash acquisition of SevenRooms, a data platform for restaurants and hotels in New York City ...

  ·        Skechers’ announcement of being acquired by 3G Capital (a private equity firm) for $63 per share is going to end its 26-year run on the public market soon. ·        Skechers’ ongoing valuation on the public markets obtains a 30% premium on the purchase price. ·        A source familiar with the deal said that Skechers couldn’t have endured oversees tariffs hike. On the other hand, high tariffs wouldn’t impact 3G Capital in the long term. The retailer put out on Monday that Skechers, a footwear giant, has gone along with being acquired by 3G Capital, a private equity firm, for $63 per share. This acquisition would end three decades run of this footwear giant as a public company. Skechers’ current valuation on the public market gets its hands on a 30% premium by the price 3G Capital agrees to put up, which is in line with similar takeover deals. Making the transaction public e...

  ·          A great footwear trade cohort, including Nike, Addidas, Skecher and others, wrote a letter to President Donald Trump this week, requesting that he should roll back reciprocal tariffs on shoes. ·         Co-signed letter by brands claimed that footwear businesses and families are under enormous and existential tariffs threat. Those, who are under that scheme, look squeezed by its impact. The so-called reciprocal tariffs can soon make inventories run low. The largest shoe brands of America are asking Trump if he could exempt their businesses from levies. Trump’s so-called reciprocal tariffs pushed America trade group’s major distributors and retailers to write a letter to the White House this week urging for an exemption. Those levies put an existential threat on their businesses, association said. Nike, Adidas, Skecher, Under Armour with 76 others footwear brands signed the letter. A number ...