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New Balance 2025 sales jump 19% as brand takes share from Nike

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New Balance 2025 sales jump 19% as brand takes share from Nike
Why New Balance sales are soaring

New Balance sales grew 19% last year to $9.2 billion as the legacy sneaker giant continued to outperform the global footwear market and take share from floundering competitors like Nike.

The 120-year-old Boston-based footwear brand, which is private, exclusively shared its 2025 results with CNBC. In addition to the sharp 2025 growth, the retailer said it could reach its goal of $10 billion in annual revenue by the end of the year.

“We’re competitive. No question about it. But we want to make sure that as we get there and surpass it, that the quality of our business is first and foremost,” CEO Joe Preston told CNBC in an interview. “We don’t want empty calories here. We want to make sure that we are delivering upon the premise that we have, which is to become a premium brand. Over the past five years, we’ve done exactly that around the globe.” 

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Since 2020, New Balance has grown sales by a staggering 180%, placing it among a handful of standout competitors that supersized their businesses as Nike changed its business model and lost significant market share.

During the Covid-19 pandemic, Nike doubled down on its direct selling strategy that cut off longtime wholesale suppliers so the sneaker giant could grow through its own website and stores. While the strategy briefly boosted sales and promised higher margins, it opened up critical shelf space at strategic retailers that companies like New Balance, Brooks Running, On and Deckers rushed to fill. 

With so much focus on building out a direct selling model, which can be more complex than distributing to wholesalers, Nike also fell behind on innovation and lost its edge in the performance footwear market. That created further opportunity for competitors like New Balance. 

Nike’s former CEO, John Donahoe, previously blamed remote work during the pandemic for the retailer’s innovation slowdown, but Preston said the global crisis created an opportunity for his team to come together in ways they hadn’t previously to implement new strategies. 

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“We met every Tuesday morning at 7:30 a.m., we still have that meeting weekly today, and it allowed us to get on a global offense … we came out of Covid stronger than any other company in our industry,” said Preston. “The marketplace disruption that’s been taking place, the examples of Nike, sure, all that stuff is real and at the same time, I don’t think it’s the reason that we have begun to emerge.” 

Preston said the company has stood apart from competitors and taken market share by focusing on “staying in front of the consumer” and how, when and where people want to shop.

The chief executive said New Balance’s growth came across a range of regions and categories, and was fueled by an aggressive store-opening plan that saw 80 new doors opened in 2025 alone.

While they are a critical revenue driver, store openings are costly and take time to show a return. When asked, New Balance declined to share details about its profitability, so it’s unclear how much these investments are weighing on its bottom line, and whether it’ll be able to keep up the high growth it has enjoyed.

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To build up its business after more than 100 years on the market, New Balance took a few cues out of Nike’s playbook. The company said a key driver of its growth has been its ability to position itself as a premium brand, which was critical to Nike’s ability to become a roughly $50 billion powerhouse.

That has meant New Balance being selective with both distribution and discounting. The move has allowed it to increase its average selling price by about 30% over the last five years at a time when many competitors have had to lean on promotions to drive sales.

There was also some good timing at play, too. Coming out of the Covid-19 pandemic, New Balance leaned on its heritage as a 1990s “dad shoe” when styles from the ’90s were extremely popular with younger shoppers. That allowed it to win over a younger consumer base that didn’t grow up with the shoes and shoppers who chose sneakers as a fashion statement – not just for sports or working out. 

At the same time, it partnered with key athletes, including Los Angeles Dodgers two-way superstar Shohei Ohtani, tennis star Coco Gauff and Buffalo Bills quarterback Josh Allen, which has fueled growth in its performance footwear business. 

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For the year ahead, New Balance said it plans to grow its existing product lines, build out new products and put a bigger emphasis on performance sales. 

It also wants to continue growing its direct-to-consumer sales through store openings in strategic areas. While the direct selling strategy didn’t go so well for Nike, Preston said he’s taking a different approach. 

“One of the things we’re not doing is establishing a [DTC] target internally,” said Preston. “We want to make sure that our goal is to show up the best and not have it be the biggest part of our business. I don’t want to get in the way with how the consumer wants to shop. We want to make sure that we are enabling the consumer to shop how they want to shop. We just want to show up great.” 

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Oil rises to six-month high on concern over potential US-Iran conflict

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Oil rises to six-month high on concern over potential US-Iran conflict


Oil rises to six-month high on concern over potential US-Iran conflict

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Why Warsh Won’t Be Remembered for Cutting Rates

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Why Warsh Won’t Be Remembered for Cutting Rates

Why Warsh Won’t Be Remembered for Cutting Rates

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Ingredion homes in on clean label, private label

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Ingredion homes in on clean label, private label

Growth drivers in spotlight at CAGNY conference.

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Bernie Sanders and Robert Reich attack billionaire class for greed ‘addiction’

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Bernie Sanders and Robert Reich attack billionaire class for greed 'addiction'

Sen. Bernie Sanders and former Labor Secretary Robert Reich are escalating their attacks on America’s wealthiest individuals, accusing the “billionaire class” of suffering from an “addiction” to greed as they push aggressive new tax hikes in solidly Democratic states like California and New York.

“Governors Hochul and Newsom: Don’t worry about raising taxes on the rich. True, a few rich people may abandon New York or California if taxes on them are raised, but evidence suggests the vast majority will stay put,” Reich wrote in a Substack post on Wednesday.

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“Never before in American history have we seen the kind of greed and arrogance and moral turpitude on the part of the ruling class that we see today,” Sanders said Wednesday evening on a Los Angeles stage, where the senator was speaking in support of California’s proposed wealth tax.

“These people suffer from an addiction problem,” Sanders continued. “Do you know what the most significant addiction crisis in America is today? It is the greed of the billionaire class. For these people, enough is never enough. They are dedicated to accumulating more and more wealth.”

REAL ESTATE EXPERTS BLAST MAMDANI’S MATH-DEFYING TAX PLAN, WARN OF HIGHER RENTS AND FLIGHT

Both California and New York are embroiled in their own tax debates: a proposal backed by the Service Employees International Union–United Healthcare Workers West would impose a one-time 5% tax on the net worth of California residents worth more than $1 billion. Meanwhile, New York City Mayor Zohran Mamdani issued an ultimatum for the state to tax the ultra-wealthy or face a “last resort” 9.5% property tax hike to plug a $5.4 billion deficit.

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Split image of Bernie Sanders and Robert Reich

Sen. Bernie Sanders and former Labor Secretary Robert Reich have been outspoken in their support of proposed wealth taxes. (Getty Images)

The threat of higher taxes has resulted in numerous high-net-worth public figures fleeing — sometimes with their businesses — to lower-tax states like Florida and Texas, Fox News Digital has previously reported.

California Gov. Gavin Newsom has publicly opposed the tax proposition, while New York Gov. Kathy Hochul remains reluctant. Reich claimed the “kindest” reasoning behind their opposition is due to fears of wealthy taxpayers leaving — but the “unkind” reason “is that they’re in the pockets of said rich.”

“When billionaire New York mayor Mike Bloomberg faced a budget deficit in his first term, he raised property taxes by 18.5 percent. Rich New Yorkers threatened to leave. Most did not,” Reich wrote. “When Massachusetts passed its ‘millionaire’s tax’ in 2022, rich residents of the Bay State threatened to leave. They didn’t. Instead, the state has collected $5.7 billion in additional revenue, while the number of millionaires in the state has grown, according to a study by People’s Policy Project.”

“Why are the rich staying put, even though their taxes are being raised? Because they’re rich! They can afford to stay put… New York’s and California’s super-rich are richer than they’ve ever been; the wealth they’ve amassed is larger than any group of Americans has ever possessed; they don’t know what to do with all their money. The taxes they would pay under the proposals put forward are infinitesimally small, almost rounding errors, compared to their fortunes,” the former labor secretary added.

Sanders framed California’s tax landscape as more of a moral battle.

“The CEOs of large profitable corporations now make 350 times more than the average worker… Last year alone… the 938 billionaires in America became $1.5 trillion richer. I heard that there was a march here in California somewhere worrying about the plight of the billionaires. Well, I don’t think our hearts are going to go out too far,” Sanders said.

“The richest people in this country are doing unbelievably well. While the working class in America is going nowhere in a hurry,” he continued. “The whole concept of the tax on billionaires is more than economics, and it is more than tax policy… They see themselves as something separate and apart, like the oligarchs.”

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Reich ultimately asks: Is California really that much worse off without Zuckerberg, Thiel, Page and others?

“Maybe raising taxes on the super-rich not only provides critically-needed tax revenue but also acts as a kind of disinfectant, purging a city or state of a few of its most noxious and socially-irresponsible inhabitants,” Reich wrote. “Another reason to do so!”

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Amcor recycle-ready cheese packaging lightens carbon footprint

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Amcor recycle-ready cheese packaging lightens carbon footprint

Agropur switched to the packaging manufacturer’s AmPrima Plus to improve sustainability measurables.

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U.K. Inflation Slows to 3.0% in January, Boosting Rate Cut Hopes

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U.K. Inflation Slows to 3.0% in January, Boosting Rate Cut Hopes

The U.K’s rate of inflation slowed in January, furthering the chances of a rate cut by the Bank of England when policymakers next meet in March.

Consumer prices rose 3.0% in January on year, compared with a 3.4% uptick in December, the Office for National Statistics said Wednesday.

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(VIDEO) Samsung’s Galaxy S26 Series to Empower Users as Content Creators with Advanced Galaxy AI Tools

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Samsung Galaxy S26 Ultra

Samsung Electronics is set to unveil its next flagship smartphone lineup, the Galaxy S26 series, at Galaxy Unpacked on February 25, 2026, in San Francisco. The company has ramped up teasers emphasizing how Galaxy AI enhancements will transform ordinary smartphone users into effortless content creators through a unified, intuitive camera and editing experience.

Samsung Galaxy S26 Ultra
Samsung Galaxy S26 Ultra

Samsung’s recent promotions highlight a “new Galaxy camera experience” that integrates photo and video capturing, editing and sharing into one seamless platform. This eliminates the need to switch between multiple apps or navigate complex software, making advanced creative tasks accessible to non-professionals.

Key teased features include:

  • Turning photos from day to night in seconds.
  • Restoring missing parts of objects in images with realistic fills.
  • Capturing detailed low-light photos and videos.
  • Merging multiple photos into a single, cohesive composition.
  • Generating personalized digital sticker packs from everyday photos, complete with varied poses and expressions for the same subject.
  • Transforming sketches or simple drawings into detailed image elements.
  • Prompt-based editing via text instructions, such as adding, removing or modifying objects.

These tools build on existing Galaxy AI capabilities like Generative Edit and Edit Suggestions but promise deeper integration and faster, on-device processing. Samsung credits its Edge Fusion technology—optimized through a partnership with Nota AI—for enabling rapid, privacy-focused generative AI directly on the device, reducing reliance on cloud servers and cutting generation times to seconds.

A series of short teaser videos released in mid-February demonstrate these functions in action. One clip shows a partially eaten cupcake restored to perfection; another converts a pet photo into a lively sticker set ready for messaging apps. Additional demos illustrate low-light video improvements and prompt-driven edits, where users describe changes in natural language for the AI to execute.

Samsung describes the updates as making creativity “faster, simpler and more natural.” The company positions the Galaxy S26 lineup as the “brightest Galaxy camera system ever,” combining hardware advancements—potentially including improved apertures and sensors—with software smarts to elevate mobile photography beyond basic capture.

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The focus on content creation aligns with broader industry trends, where smartphones increasingly serve as all-in-one tools for social media, personal branding and casual filmmaking. By democratizing professional-level edits, Samsung aims to appeal to everyday users who want polished results without dedicated editing suites or skills.

The Galaxy S26 series is expected to include the standard Galaxy S26, Galaxy S26+ and the premium Galaxy S26 Ultra. While full specifications remain under wraps until Unpacked, rumors suggest refinements in design, performance and battery life alongside the AI-heavy camera push. Pre-order incentives include double storage upgrades for select variants and credits toward accessories.

The February 25 event, starting at 10 a.m. PT, will stream live on Samsung.com, the Samsung Newsroom and YouTube. Reservations are open, with perks like a $30 credit and sweepstakes entries for participants.

As AI becomes central to smartphone experiences, Samsung continues to expand Galaxy AI’s role across its ecosystem. The S26 teasers underscore a shift toward “personal and adaptive” intelligence that anticipates user needs and simplifies complex tasks.

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Industry observers anticipate the event will further differentiate Samsung from competitors by emphasizing on-device AI for speed and privacy. With the launch just days away, excitement builds around how these tools could redefine mobile content creation for millions.

Samsung’s push positions the Galaxy S26 not just as a phone upgrade but as a creative companion empowering users to produce shareable, high-quality content instantly.

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Lobbying firm co-founded by Mandelson faces collapse

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Lobbying firm co-founded by Mandelson faces collapse

Sources close to the company insist that its difficulties stem entirely from “the Mandelson legacy”.

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EEOC sues Coca-Cola distributor for allegedly excluding male workers from event

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EEOC sues Coca-Cola distributor for allegedly excluding male workers from event

The U.S. Equal Employment Opportunity Commission (EEOC) filed a lawsuit against Coca-Cola Beverages Northeast, Inc., a producer, seller and distributor of Coca-Cola products, alleging sex discrimination. The EEOC claims that the Coca-Cola distributor excluded male employees from an employer-sponsored event.

The lawsuit was launched by the EEOC’s Boston Area Office, the commission noted. The EEOC is responsible for investigating and litigating possible instances of employment discrimination.

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The commission alleged in an announcement of the lawsuit that in September 2024, Coca-Cola Northeast held a two-day employer-sponsored trip and networking event at Connecticut’s Mohegan Sun Casino and Resort.

THOUSANDS OF POPULAR PRODUCTS, INCLUDING DIET COKE, PRINGLES, RECALLED OVER RODENT CONTAMINATION CONCERNS

Bottles of Coca-Cola products

Bottles of Coca-Cola are displayed on a store shelf on Feb. 10, 2026, in Greenbrae, Calif. (Justin Sullivan/Getty Images / Getty Images)

The distributor allegedly “privately invited female employees and then excused the female employees who attended the event from their normal work duties on Sept. 10 and 11, 2024, and paid them their normal salary or wages without requiring them to use vacation or other paid time off,” the EEOC said. The commission accused Coca-Cola Northeast of failing to invite male employees to the event.

“Excluding men from an employer-sponsored event is a Title VII violation that the EEOC will act to remedy through litigation when necessary,” Catherine L. Eschbach, acting EEOC general counsel, said in a statement. “The EEOC remains committed to ensuring that all employees – men and women alike – enjoy equal access to all aspects of their employment, including participation in employer-sponsored events, regardless of their sex, race or other protected category.”

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Cases of Coca-Cola soda are displayed at a Costco Wholesale store on April 27, 2025, in San Diego, California.  (Kevin Carter/Getty Images / Getty Images)

COCA-COLA ANNOUNCES MAJOR LEADERSHIP CHANGE AS HENRIQUE BRAUN IS NAMED NEXT CEO

Peter Bennett, an attorney representing Coca-Cola Beverages Northeast told FOX Business that the event did not constitute sex discrimination and that he was confident a jury would agree.

“The U.S. Equal Employment Opportunity Commission filed a lawsuit against Coca-Cola Beverages Northeast, Inc. challenging our Company’s right to hold a one-day event in September 2024,” Bennett said. “This event fully complied with existing EEOC regulation and its public commentary approving of such events. Coca-Cola Beverages Northeast finds it disappointing that the EEOC did not conduct a full investigation, and we look forward to having our day in open court where the full story told to a jury will vindicate us.”

“We remain confident in our values and in our continued focus on fairness, respect, and opportunity for everyone. We remain committed to upholding our responsibilities to our employees, customers, and the communities in which we live and work,” Bennett added.

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Coca-Cola logo displayed on building

Signage outside the Coca-Cola bottling plant in Albany, New York, on Tuesday, Jan. 30, 2024.  (Angus Mordant/Bloomberg via Getty Images / Getty Images)

The EEOC’s lawsuit is the first related to workplace diversity that the commission has launched during Trump’s second term in office, Axios noted. The EEOC painted the lawsuit as part of the Trump administration’s broader effort to block diversity, equity and inclusion (DEI) initiatives that it views as discriminatory. 

On the “What You Should Know About DEI-Related Discrimination at Work” page of the EEOC website, the commission notes that DEI initiatives can be “unlawful” if an action is motivated in whole or in part by an employee or applicant’s race, sex or another protected characteristic.

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Coca-Cola told FOX Business that Coca-Cola Beverages Northeast, Inc., is independently owned and operated, and referred to the distributor in response to a request for comment.

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Throne Sport Coffee raises $10 million to fuel ‘growth phase’

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Throne Sport Coffee raises $10 million to fuel ‘growth phase’

RTD coffee startup expanding distribution, sales buildout, brand marketing.

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