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In The News: Keen, Reebok, Puma, Oofos


Keen’s upcoming Fall 2022 line of footwear includes a focus on versatility and sustainability, as well as a nod to the rising trend of digital nomads, reflecting today’s evolving workforce and those “working and playing on the move.” A highlight is Keen’s new Mosey Collection for men and women, featuring natural components such as cork. The Mosey Felt ($130) has a ReWooly felt upper using a 50% recycled Italian wool blend and an eco anti-odor footbed. And the Mosey Leather ($145) is made with environmentally preferred leather and a sleek sustainable finish. Styles arrive on the brand’s website and at specialty retail in August 2022.

Reebok will reportedly layoff 150 people, or an estimated 25 percent of its Boston employee base, before the company is officially sold by Adidas to Authentic Brands on Feb. 28. The Boston Globe was the first news outlet to confirm the pending layoffs, citing a Jan. 19 company Zoom meeting on the matter that was confirmed by the company in an email.

Puma had a record year in 2021 despite headwinds from the COVID-19 pandemic worldwide and continued supply chain constraints. Puma’s FY21 currency-adjusted revenues rose 32 percent in euros to the equivalent of $7.72 billion and EBIT was nearly $632 million. In Q4/21, the brand’s currency-adjusted sales grew approximately 14 percent in euros to the equivalent of $2.0 billion and EBIT inched higher to €65 million ($73.8 million) from €63 million in Q4/20, according to preliminary results released last week. The company will formally release FY21 results and its FY22 outlook on Feb. 23.

Recovery footwear brand Oofos announced a partnership with U.S. Ski & Snowboard for the 2022 and 2023 seasons, making Oofos the Official Recovery Footwear Supplier for the team.

International Monetary Fund cuts its 2022 U.S. growth estimate to 4 percent from 5.2 percent, citing the stalled Build Back Better federal plan, ongoing supply chain shortages and Federal Reserve’s decision to tighten its policy stance and hike interest rates.

U.S. Retail Returns rose to 16.6 percent of total U.S. retail sales, or $761 billion in 2021, according to date from the National Retail Federation. The figure compares to a return percentage of 10.6 percent in 2020. Meanwhile, an estimated $218 billions of an estimated $1.050 trillion in online sales were returned last year.

Fashion Nova, LLC, an online fashion retailer, will pay a $4.2 million to settle Federal Trade Commission allegations that it blocked negative reviews of its products from being posted on its website. Additionally, the California-based retailer will be prohibited from suppressing customer reviews going forward. The agreement marks the second Fashion Nova has made with the FTC over the last 24 months. In April 2020, the company agreed to pay $9.3 million to settle charges that it failed to properly notify consumers and give them the opportunity to cancel orders when it failed to ship merchandise in a timely manner, and that it illegally used gift card to compensate customers for unshipped merchandise instead of providing refunds.