Recently launched U.S. luxury sportswear brand Off Season announced on Tuesday the appointment of Victoria Picca as president.
Victoria Picca – Courtesy
As president, Picca will lead the company’s business operations, brand strategy, and growth initiatives, including future licensing partnerships, global expansion opportunities, and continued product innovation. “Off Season is building something truly special—where fashion, sport, and cultural relevance come together in a new way,” said Picca. “I’m thrilled to join Emma and Kristin at this pivotal moment and help lead the charge as we expand our reach, deepen our impact, and create something lasting.”
With decades of experience in the sports, media, and commerce industries, specifically in licensing, strategic partnerships, and business affairs, Picca joins Off Season from Fanatics, where she served as senior vice president of business affairs, overseeing Fanatics licensing management and a global portfolio of more than 700 licensees.
During her tenure, she was instrumental in negotiating agreements with major sports leagues and clubs, helping drive more than $2 billion in sales.
Prior to Fanatics, she spent 14 years at the NBA, rising to senior vice president, licensing and business affairs, where she led the league’s global licensing strategy and helped shape impactful brand partnerships. “Vicky’s exceptional leadership and business acumen will be a game-changer for Off Season,” said Emma Grede, CEO and co-founder of Off Season. “Her expertise will play a crucial role as we continue to scale, push boundaries, and solidify Off Season as a dominant force in the market.”
Off Season launched in January as a collaborative project between Grede the National Football League, Kristin Juszczyk and Fanatics. Launch as a luxury fashion brand that redefines the intersections of football, sports and fashion, the first Off Season boasts puffer vests, puffer jackets and long coats that represent the San Francisco 49ers, Kansas City Chiefs, Philadelphia Eagles, Detroit Lions and Buffalo Bills.
Leveraging its license with the NFL Players Association, the brand also incorporate NFL players’ names and numbers into its designs.
The Off Season collection is available in sizes XS–XXXL, with prices ranging from $295 for vests to $495 for long coats.
“Emma and I couldn’t be more excited to welcome Vicky to the Off Season team,” added co-founder Juszczyk. “Her deep understanding of sports licensing and her passion for forging innovative partnerships make her the ideal fit for this next phase of our journey. We are confident that her leadership will elevate Off Season to new heights, seamlessly blending fashion and sports in a way that genuinely connects with fans.”
Walmart on Wednesday reaffirmed its confidence in its everyday low price strategy, maintaining full-year forecasts for sales and income growth while pledging to keep prices low despite concerns about rising prices due to U.S. President Donald Trump‘s tariffs.
Archivo
The company’s shares, which were down nearly 9% since Trump announced a raft of tariffs on April 2, recouped most of those losses to close up 9.6% on Wednesday. The stock jumped about 4% after Trump set a 90-day pause on tariffs.
Walmart’s “outlook was better-than-expected given the current environment,” D.A. Davidson analyst Michael Baker said on the sidelines of the company’s investor meeting in Dallas. “That they maintained guidance is being seen positively.”
Walmart, the biggest U.S. importer of containerized goods, could take a hit from tariffs, mainly on Asian countries that supply the retailer with everything from clothing to toys.
Trump’s pause on Wednesday did not affect his tariffs on China. That country provides around 60% of Walmart’s imports while Vietnam remains one of its top five suppliers, according to a Reuters report in November 2023.
“We’ve learned how to manage through turbulent periods,” Walmart CEO Doug McMillon said at the two-day investor meeting that started on Tuesday.
“And while we don’t know everything that is going to happen … We do know what our priorities are, and we know what our purpose is, and we’ll be focused on keeping prices as low as we can,” he said. “And we’ll focus on managing our inventory and our expenses well.”
McMillon said he has not spoken with Trump about tariffs and that, to his knowledge, the company has not yet canceled any orders from abroad. Walmart has also not issued any directives to reduce orders in specific categories. McMillon said the company is insulated because it sources more than 2/3 of what it sells domestically.
“I am talking to (Walmart’s category) buyers these days and have a good sense of how we are thinking … We have a plan to execute. There will be a Christmas and people will celebrate Christmas.”
Earlier on Wednesday, Walmart announced that it was retaining its first-quarter sales forecast, but “the range of outcomes” for first-quarter operating income growth has widened due to several factors, including the need to reduce prices to offset the effect of tariffs on incoming goods.
The company in February forecast first-quarter adjusted operating income would rise in the range of 0.5% to 2%. It did not provide updated figures.
“You could ask, you know, why didn’t you withdraw guidance. We just don’t know enough to say we’re not going to make it this year. And our attitude is we’re not giving up on achieving that.”
Some analysts said the focus on price is a market-share play, but one that could dent Walmart’s margins and earnings. Walmart has already been haggling with suppliers behind the scenes over price hikes, Reuters has reported.
On Wednesday, however, Walmart CFO John David Rainey said many of the considerations it took while issuing that forecast had changed. “Operating income has become harder to predict,” he said.
Walmart started seeing volatility in shopping behaviors in February, in part due to tariff uncertainty and other factors like colder weather. March sales were more or less to plan but were volatile where they would be higher one week and drop off the next. April,, he said, was likely to be Walmart’s highest grossing sales month of the quarter in part due to Easter falling in April this year versus March last year, he added.
Trump on Wednesday said he would temporarily lower new tariffs on many countries, even as he raised them further on imports from China, a sudden reversal that surprised many.
“I remain in our plan,” McMillon said in comments addressed to a group of investors, analysts and reporters, before Trump’s 90-day pause. “I have seen us navigate times like the period after 9/11, the global financial crisis, the pandemic, and more recently high inflation. While in the short term we are not immune… nothing about the current environment impacts our business or our strategy,” McMillon said.
The retailer did not provide any additional comments following the pause.
Amazon.com is considering a $15 billion warehouse expansion plan for about 80 new logistics facilities in U.S. cities and rural areas, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Amazon
The company is asking potential capital partners to submit proposals, according to the report, opens new tab, which said the facilities are expected to be mostly delivery hubs, but some would also include large fulfillment centers packed with robots.
Amazon said the projects were currently under discussion and have not been finalized. “Meetings like this with our capital partners are routine and part of the normal due diligence process, as we consider potential, future projects,” Amazon spokesperson Steve Kelly said.
Separately, the e-commerce company has canceled orders for multiple products made in China and other Asian countries, Bloomberg News reported, opens new tab, citing a document it reviewed and people familiar with the matter.
The orders for beach chairs, scooters and other merchandise from multiple vendors were halted after the sweeping April 2 U.S. tariff announcements, the report said, adding that timing of the cancellations, which had no warning, led the vendors to suspect it was a response to tariffs.
Amazon did not immediately respond to a Reuters request for comment on cancellation of orders for products made in China. China and the European Union announced new trade barriers on U.S. goods on Wednesday in response to steep duties imposed by U.S. President Donald Trump, escalating a global trade war that has hammered markets and raised the likelihood of recession.
China announced a tariff hike on U.S. imports to 84% from 34%, shortly after Trump’s punitive 104% tariffs on Chinese imports kicked in on Wednesday, as a standoff between the world’s two largest economies showed no signs of resolution.
Amazon spent heavily on its retail infrastructure during the pandemic, even incurring $2 billion in quarterly expenses for excess warehouse and transportation capacity. The company has since reined in those investments, focusing instead on its cloud and AI business.
It has more than 600 U.S. fulfillment centers, delivery stations and same-day facilities.
Prada SpA is nearing final approval to acquire struggling luxury brand Versace for around €1.25 billion ($1.4 billion) from Capri Holdings Ltd. despite the tariff-induced volatility, according to people familiar with the matter.
The board of the Milanese company, controlled by billionaire designer Miuccia Prada and her husband Patrizio Bertelli, is meeting Wednesday to sign off on the transaction, said the people, who asked not to be identified because talks are private.
Prada and Capri have been discussing a small reduction in the original price of nearly €1.5 billion due to Versace’s turnaround needs and tariffs, said the people, noting that they are on track to reach an agreement this week. The two companies are finalizing a few remaining technicalities and the formal approval is still outstanding, the people said.
Representatives for Prada and Capri declined to comment.
Prada has negotiated for months to buy the fashion house founded by Gianni Versace in the 1970s and known for its flashy, ready-to-wear designs. The Financial Times reported earlier Wednesday that Prada is closing in on the purchase after negotiating a discount of more than $200 million due to the impact of the trade war. The Wall Street Journal reported separately that talks to acquire Versace are at risk of collapsing at the eleventh hour with financial markets in historic turmoil.
Capri paid about €1.8 billion for the Versace brand in 2018. The purchase would return Versace to Italian ownership and put Prada in a better position to compete with bigger global luxury rivals such as LVMH and Kering SA.
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