Nike Sues Wal-Mart, Alleges Patent Infringement
New York City Nike has sued Wal-Mart Stores, claiming the discount retailer is selling athletic shoes that infringe on its design patents, according to a Reuters report.
Nike claims Wal-Mart is selling shoes that infringe on its Shox line, which is designed with what looks like springs in the heels.
“Wal-Mart knowingly and intentionally sold and continues to sell the infringing shoes as simulations of Nike shoes,” the Nike complaint states.
Nike is seeking an order to bar Wal-Mart from selling items that infringe on its patents and “damages adequate to compensate Nike for the patent infringement that has occurred.”
The complaint was filed on Monday in the U.S. District Court for the Northern District of Illinois, Eastern Division.
Burlington Coat Factory cuts 1Q loss
BURLINGTON, N.J. Burlington Coat Factory reported that net sales for the first quarter ended Aug. 30 were $707 million, compared with $678.8 million for the comparative period ended Sept. 1, 2007, a 4.2 % increase. Comparative-store sales increased 0.2% for the quarter.
The company recorded a net loss of $32.5 million for the quarter compared with a net loss of $50.4 million for the same period last year.
NRF ask Congress to consider 2nd stimulus package
WASHINGTON The National Retail Federation is urging Congress to hold a lame duck session to address the nation’s economy as soon as possible after the November elections, and to include tax relief for consumers in any economic stimulus package that is adopted.
“The United States is in the midst of a national crisis,” NRF president and ceo Tracy Mullin said. “Extraordinary measures are needed to address this profound economic emergency that has affected every American.”
“Consumer confidence has been badly eroded by the foundering economy and instability of the financial markets,” Mullin said. “Because consumer spending represents two-thirds of GDP and supports tens of millions of jobs, it is difficult if not impossible to foresee an improvement in overall economic growth until consumer confidence and spending improve.”
Mullin said she believes a second round of stimulus checks would provide a much-needed boost in consumer spending.
Mullin’s comments came in a letter sent today to House Speaker Nancy Pelosi, D-Calif.; House Minority Leader John Boehner, R-Ohio, Senate Majority Leader Harry Reid, D-Nev., and Senate Minority Leader Mitch McConnell, R-Ky.