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Consumers ‘under attack’ are pulling back, Wrangler maker says

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Bloomberg

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February 25, 2025

US consumers are pulling back as they face down layoffs and impending tariffs, according to the chief executive officer of the company that owns the Lee and Wrangler brands. 

“The consumer right now is confused,” Kontoor Brands Inc. CEO Scott Baxter said during the company’s quarterly call with analysts. “If you just put yourself in their seat, they’re worried about work. They’re worried about the businesses that they’re in. Are those going to be impacted by some of the layoffs, the tariffs, the current situation right now?” 

Kontoor shares sank as much as 16% on Tuesday, the most intraday since 2020, after the company gave a 2025 earnings outlook that fell short of analysts’ estimates. The stock had been largely flat this year through Monday’s close.  

Baxter said consumers are wondering when they’ll “be able to get back to some sort of normalcy.” 

“Any time the consumer is feeling a little bit under attack like that, they get very conservative,” he said. “And I think that we are in this country right now seeing that conservatism from the consumer because of their worry.”

His comments came right before the release of US consumer confidence data for February that fell by the most since August 2021. This added to concerns that the Trump administration’s policies is weighing on households.

President Donald Trump has moved rapidly to overhaul the US government since taking office by enacting sweeping cuts across the federal workforce while pledging tariffs on a wide range of goods and nations. The potential tariffs, and a lack of visibility on whether or not they’ll be ultimately implemented, have unnerved businesses. 

Trump most recently said that 25% tariffs on Canada and Mexico, expected to take effect on March 4, are “on time” and “moving along very rapidly.”  

Executives at Greensboro, North Carolina-based Kontoor said that about a quarter of the company’s expected US production volume this year will originate from Mexico. 
 



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Dollar lower after soft consumer confidence as economic worries grow

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Reuters

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February 25, 2025

The dollar fell on Tuesday, extending declines after a disappointing reading on U.S. consumer confidence and a drop in U.S. yields weighed, while optimism for more spending in Germany helped lift the euro.

Reuters

The greenback extended declines after the Conference Board said its consumer confidence index dropped 7 points, its largest fall since August 2021, to 98.3, well short of the 102.5 estimate of economists polled by Reuters.

“The present situation index improved, but consumers are expecting dark skies ahead. Change can be scary, so it’s not surprising that confidence is falling,” said Brian Jacobsen, chief economist at Annex Wealth Management in Menomonee Falls, Wisconsin.

The dollar index, which measures the greenback against a basket of currencies, fell 0.51% to 106.20, just off the two-month low of 106.12 hit on Monday, with the euro up 0.46% at $1.0514.

Concerns have started to emerge about U.S. economic growth, and worries about inflation are growing as tariff deadlines by Trump on Canada and Mexico are set for next week. Investors also fear the labor market impact from actions taken by Elon Musk’s Department of Government Efficiency.

“There’s going to be a lot of back and forth on Trump’s initiatives, and certainly markets in general long term, don’t like tariffs,” said Joseph Trevisani, senior analyst at FXStreet in New York.

“There’s definitely nervousness out there because some of these things could go the wrong way, certainly inflation hasn’t shown any sign of further retreat.”

Reflecting the worries, the yield on benchmark U.S. 10-year notes fell 10.6 basis points to 4.287% after hitting a 2-1/2 month low of 4.283%.
After initial signs Germany may be able to move quickly, election winner Friedrich Merz on Tuesday ruled out a rapid reform to Germany’s state borrowing limits known as the “debt brake” and said it was too soon to say whether the outgoing parliament could wave through a massive military spending boost.

The developments in Germany also prompted Deutsche Bank’s head of FX research, George Saravelos, to revise on Tuesday his bearish view on the euro against the dollar to neutral. He had previously been bearish, despite the rally in Treasuries, because “the outcome of the German election was not conducive to a quick easing of the German fiscal stance”.

“We see the balance of risks as evenly distributed over the next few months,” he added.

A move higher by the dollar late on Monday against the Mexican peso and Canadian dollar after U.S. President Donald Trump said tariffs on Mexico and Canada would proceed as scheduled and go into effect next week was largely unwound on Tuesday, suggesting investors still view the threat of duties as a negotiating tool by Trump.

U.S. Treasury Secretary Scott Bessent argued on Tuesday the U.S. economy is more fragile under the surface than economic metrics suggest, citing interest rate volatility, sticky inflation and job growth focused on the government sector, while also saying that tariffs are an important source of revenue.

The Mexican peso strengthened 0.32% versus the dollar at 20.414 although the Canadian dollar weakened 0.2% versus the greenback to C$1.43.

Analysts at Goldman Sachs noted, “the risk remains that we see a repeat of Trump’s brinkmanship from last month, with choppy price action in those currencies are we approach March 4.”

Against the Japanese yen, the dollar weakened 0.75% to 148.59 while Sterling strengthened 0.36% to $1.2669.

British Prime Minister Keir Starmer said he would increase annual defense spending to 2.5% of GDP by 2027 and target a 3% level, last seen just after the Cold War, a signal to Trump that Britain can help boost Europe’s security.

In cryptocurrencies, bitcoin plummeted 8.13% to $86,340.15 as tariffs and growth worries dented risk appetite.  

© Thomson Reuters 2025 All rights reserved.



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Hoka opens second Parisian store in Marais district

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Nicola Mira

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February 25, 2025

After opening a first store in Paris in April 2024, sport apparel and equipment brand Hoka continues to expand in the French capital by inaugurating a second, 290-square-metre store at 14 rue Sainte-Croix de la Bretonnerie, in the heart of the Marais district.

Hoka

The new address, in larger and brighter premises than the first, is designed to provide an immersive experience for runners of all levels. A large skylight illuminates a décor featuring industrial materials such as concrete and stone, furnished with bright blue sofas. The walls showcase a complete selection of Hoka products, ranging from trail and road-running shoes to hiking gear and other items with more of a lifestyle vibe.

A series of photographs hung along a corridor immerses visitors in Hoka’s Alpine roots and its athletes’ favourite landscapes. Visitors can also take advantage of the Safe Size service, which uses digital tech to scan customers’ feet in order to recommend the ideal pair of shoes based on their morphology.

The new store is home to its own Hoka Run Club, like the one launched last May at Hoka’s first Parisian store, located in the Opéra district. The two stores will take turns to act as the starting point for inclusive weekly running sessions, supervised by certified coaches. For the new store’s inauguration, a run was held on February 16 along a course linking the Opéra and Marais addresses.

Hoka’s second Parisian store – Hoka

“Following the success of our first Parisian store last April, we are delighted to unveil our second address in the heart of the Marais district — one of the most iconic and elegant neighbourhoods in Paris, renowned for its rich mix of art, fashion and history,” said Guido Geilenkirchen, vice-president EMEA at Hoka. “Paris has welcomed us with open arms, and we are excited to continue our adventure in the French capital,” he added.

Hoka’s second Parisian opening is an opportunity for the brand to underline its growing popularity with running enthusiasts. Hoka, available in France at over 300 stores, belongs to the Deckers Brands group, also the owner of Ugg and Teva. In Q3, closed at the end of December, Hoka generated a revenue of $530.9 million, equivalent to a 23.7% increase.
 

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Vinted releases ‘New Again’ campaign for first brand platform

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February 25, 2025

Lithuanian second-hand specialist Vinted has had no need for a slogan until now, consumer interest being driven by the appeal of vintage fashion. After becoming profitable in 2023, Vinted is now keen to consolidate its status with customers, and has released an ad campaign featuring the ‘New Again’ slogan.

Vinted’s ‘New Again’ campaign – Vinted

The campaign has been developed in collaboration with production agency 100%, and portrays 38 consumers, men, women and children, wearing the clothes they use in their everyday lives. The focus is, of course, on fashion resale, and on how second-hand clothes are considered.

“The best ideas are simple, genuine, and inspiring,” said Emma Sullivan, creative director at Vinted. “With ‘New Again,’ we’re shining a light on our members’ experiences and turning them into stories. ‘New Again’ is all about renewable joy, potential, and value. It’s a hopeful concept that will shape our brand’s creative journey for years to come,” she added.

The campaign was released in the UK and France in February, and will be launched in Spain, Italy and Poland the next few months.

Vinted’s ‘New Again’ campaign

At the end of 2024, Vinted said it was not considering a stock market listing for the time being, a few weeks after reaching a valuation of €5 billion following a secondary shares investment. 

Vinted is keen the enter the luxury clothes and accessories segment, and has recently diversified by creating a section dedicated to consumer electronics. Fashion is however set to remain its core business, as Adam Jay, CEO of Vinted Marketplace, told FashionNetwork.com in October.

 

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