June 27, 2025

  • Nike expects tariffs to cost the company $1 billion, prompting it to shift production away from China, raise U.S. prices, and cut corporate costs amid slumping sales and its worst quarterly performance in over three years (via The Guardian).
  • U.S. inflation edged higher in May, with core prices up 2.7% year-over-year, while consumer spending and incomes declined (via AP News).
  • Michaels reported a 2.3% increase in same-store sales last quarter, attributing the gain partly to customers migrating from shuttered Party City and JOANN stores (via PYMNTS).
  • Apple has introduced a complex new fee structure for its App Store in Europe in an attempt to comply with the EU’s Digital Markets Act and avoid a €500 million fine (via CNBC).
  • Meta CEO Mark Zuckerberg is aggressively ramping up AI investments and recruiting top talent after realizing Meta was falling behind in the race to develop advanced “superintelligence” systems (via The New York Times).
  • UK car production plunged to its lowest May level since 1949, down nearly a third year-over-year, as Trump-era U.S. tariffs halved exports and forced some manufacturers to halt shipments (via BBC).
  • Minnesota-based Legacy Toys has filed for Chapter 11 bankruptcy after facing multiple financial setbacks, including tariffs that sharply raised import costs. The retailer plans to keep its remaining five stores open while it restructures (via The Minnesota Star Tribune).
  • JCPenney is seeing early signs of a turnaround following years of decline, driven by its bold “Yes, JCPenney” marketing campaign that has boosted brand interest, fashion sales, and store traffic (via Forbes).
  • Back-to-school shopping is seeing parents prioritize sales, early shopping, and AI tools to find deals as tariffs push prices higher, a PwC survey finds (via Retail Dive).
  • Luxury brands in China, facing a slowdown in consumer spending, are shifting from traditional retail to “experiential” flagship stores and cafes, like Louis Vuitton’s new ship-shaped Shanghai store (via Reuters).