Collective Brands Will Try to Overturn Ruling
Topeka, Kan. Collective Brands Inc. on Monday said it will file several motions in court seeking to set aside or reduce an unfavorable verdict in a lawsuit with Adidas.
Last week, a federal jury in Oregon ordered Collective Brands to pay $305 million in damages to Adidas AG. The verdict stems from a lawsuit that Adidas filed in 2001 against Payless ShoeSource, which changed its name to Collective Brands last year, for selling shoes that Adidas said violated its trademarked three-stripe logo.
The amount includes $30.6 million in actual damages and $274 million divided between Payless profits and punitive damages, Collective Brands said.
Collective Brands CEO Matthew E. Rubel said the company has “strong grounds” to have the verdict overturned or reduced.
He said if the trial court does not grant the company’s motions it could take several years for the matter to be resolved on appeal.
Separately, Rubel said the company has maintained its focus on its business and offered guidance ahead of expectations.
Bloomingdale’s to shift direct-to-consumer focus online
NEW YORK Bloomingdale’s is shifting the focus of its direct-to-consumer business to its stronger performing bloomingdales.com Web site, where sales growth has far outpaced he Bloomingdale’s By Mail catalog in recent years. As such, the company said it will discontinue its By Mail catalog by 2009.
“Bloomingdale’s is focused on growing its online business, increasing profitability and reflecting a seamless brand and merchandise selection, whether it be in-store or online,” commented Michael Gould, Bloomingdale’s chairman and ceo.”
Tuesday Morning names new director to board
DALLAS Tuesday Morning announced the appointment of Starlette Johnson to its board of directors.
Johnson is currently president, coo, and director of Dave and Busters and has served in that capacity since April 2007.
“We are pleased to welcome Starlette to the Tuesday Morning board of directors,” said Bruce Quinnell, chairman of the board. “We believe her extensive experience will make her a valuable addition to the board and an asset to the company.”