Business
Authentic Taps Union Group for Lee’s Operations in Mexico
Authentic Brands Group continues to grow its network of partners for Lee.
On Friday, the global brand and entertainment company announced a strategic partnership with Union Group for Lee in Mexico. The agreement will take effect following Authentic’s previously announced acquisition of Lee from Kontoor Brands, which is expected to close in the second half of 2026.
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Union Group will serve as Lee‘s strategic operating partner in Mexico, leveraging its extensive capabilities and expertise across product development, sourcing, retail, wholesale distribution and e-commerce.
The fully integrated operator has more than 40 years of experience in Mexico, including overseeing the operations for several of Authentic brands. Their partnership began more than a decade ago with Nautica and has since expanded to include Aéropostale, SHAQ, Reebok, Quiksilver, among others.
“Union Group has been a trusted partner to Authentic for many years,” said Victor Alvarino, SVP head of Mexico, Authentic. “Their strong operating capabilities, retail relationships and deep understanding of the Mexican consumer make them an ideal partner for Lee. Lee is an iconic brand with tremendous heritage and significant growth potential in Mexico, and together we have a great opportunity to accelerate its growth and build the brand for the long term.”
Authentic has inked several deals for Lee in recent weeks. Shanghai Huizhong, a wholly owned subsidiary of the HiMaxxGroup, will be the operating partner for Lee across China, Hong Kong and Macau. Authentic also formed strategic partnerships for Lee with One Jeanswear Group for North America and Experience Group across Europe.
“We are proud to expand our longstanding partnership with Authentic by welcoming Lee,” said José Tawil, CEO of Union Group. “Lee is an iconic global brand with a rich heritage and strong foundation in denim and lifestyle, one that generations of Mexican consumers have known and loved. We look forward to working alongside Authentic to bring Lee back to the top of mind position it deserves—e expanding the brand in Mexico and creating new opportunities for its long-term growth.”
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New report of attack on Strait of Hormuz shipping fans fears of threats to oil supplies
The stock market ended the week on a high note, with all three major indexes taking part in a broad rally on Friday.
The S&P 500 rose 0.9%. The Nasdaq Composite gained 1%. The Dow Jones Industrial Average gained 1%, or 508 points.
Stocks ticked higher after August’s consumer price index data fueled a surge in odds that the Fed will raise rates, removing some uncertainty from the market.
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A chocolate Frankenstein head filled with gummy candy being sold for more than $50 at Costco is going viral on social media.
The hefty Halloween treat weighs 5.5. pounds and includes a mallet to smash the monster’s head and get at the gummies, which are shaped like body parts.
The “Monster Mash Chocolate” made by Ten Acre Gifts sells for $54.99 at the wholesaler and for more than $60 online, although it appeared to be sold out on Costco’s website Saturday evening.
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Costco is selling a $55 “Monster Mash Chocolate” candy Frankenstein in time for Halloween. (Charles-McClintock Wilson/NurPhoto via Getty Images; Costco.com / Getty Images)
The label says the candy is 150 calories per serving and includes 25 servings.
While some Halloween fans were in love with the chocolate treat, others thought it was a little over the top.
One person on Instagram said they would consider it if they were hosting a Halloween party and another commented: “Hard pass but would make a great prank Christmas gift.”
COSTCO FANS ERUPT AFTER BELOVED FOOD COURT ITEM REPLACED BY HIGH-CALORIE NEWCOMER
Costco is selling a chocolate Frankenstein head filled with gummy candy that weighs 5.5 pounds. (Costco.com / Unknown)
“Costco looked at Halloween and said, ‘What if a piñata… but medically concerning?’” someone else joked on X.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 904.77 | +2.39 | +0.26% |
Another X user professed: “This is now a priority need in my life…”
LINES WRAP AROUND BLOCK AS CUSTOMERS WAIT HOURS FOR VIRAL DOT CAKES THAT SELL OUT WITHIN MINUTES
Shoppers walk by a Costco Halloween display in New York. (Lori Van Buren/Albany Times Union via Getty Images, File / Getty Images)
“Imagine explaining to someone that your Halloween candy comes with its own demolition tool,” someone else posted on X, and another user joked, “A hammer for Halloween candy is insane. Costco wass like, safety can wait.”
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The product was even selling on eBay for as much as $100.
FOX Business has reached out to Costco for comment.
SpaceX CFO Bret Johnsen provided an update on the company’s sales targets and Starship test flight plans while speaking at a Goldman Sachs conference on Thursday. The rocket maker landed a new AI compute customer worth about $13 billion annually, while the Starship flight later this month will mark the spacecraft’s first revenue-generating mission. SPCX stock rose Friday, trading near…
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1539 ET – Oil futures slip but post weekly gains on escalating conflict in the Middle East, with Yemen’s Iran-backed Houthis stepping up attacks on Saudi facilities and making territorial advances to strengthen their position near the Bab al-Mandeb Strait. “Although much of today’s price pullback appears attributable to talk of Middle East countries discussing a reopening of the Strait of Hormuz, and some bearish demand aspects to today’s monthly IEA report, the larger negative driver in our opinion, is simply a deserved market correction following this week’s dramatic gains,” Ritterbusch & Asosciates says in a note. WTI settles down 2.4% at $100.05 a barrel for a 9.4% weekly gain. Brent falls 2.8% to $104.61 and is up 8.7% on the week. (anthony.harrup@wsj.com)
Oil Demand Loss More Damaging for Developing Countries
1239 ET – The IEA’s latest estimate for a 2.5 million barrels-a-day drop in oil demand this year because of the U.S.-Iran conflict puts losses on a par with declines in 2008/09 combined during the global financial crisis, says Raymond James investment strategy analyst Pavel Molchanov. “In developed economies, oil demand destruction involves mostly mild effects, such as suspended airline routes. In lower-income countries, more painful impacts—factory closures, fuel rationing—are visible.” The IEA sees demand barely recovering pre-conflict levels in 2027, “and a portion of demand destruction may be permanent,” he adds.(anthony.harrup@wsj.com)
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Saudi Arabia’s Energy Ministry said the East-West pipeline was hit several times Thursday in attacks that caused a number of injuries and led the kingdom to shut it down. The crucial pipeline carries crude from Saudi Arabia’s producing heartland on the Persian Gulf to Yanbu on the Red Sea, bypassing the blockage in Hormuz.
Saudi Arabia’s oil industry was already reeling. The kingdom’s crude-oil production fell to its lowest level in more than three decades last month, dropping by 2.3 million barrels to 6 million barrels a day in August, the International Energy Agency said in a report Friday. Saudi Arabia produced around 9.4 million barrels a day on average last year.
The dollar index (DXY00) on Friday rose by +0.06%. The dollar found support as a hawkish US CPI report pushed odds of an FOMC rate hike next week up to 88% from 75% on Thursday. Also, the 10-year T-note yield on Friday rose by +0.6 bp, supporting the dollar’s interest rate differentials.
Friday’s -2.4% decline in oil prices initially caused the 10-year T-note yield to drop, despite the CPI report. However, the CPI report caught up with the T-note market by the end of the day, and the 10-year T-note yield ended slightly higher.
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Friday’s Aug US CPI report of +0.4% m/m was in line with market expectations, but the core CPI report of +0.3% m/m was slightly stronger than market expectations of +0.2% m/m. On a year-on-year basis, the Aug CPI report of +3.4% y/y was unchanged from July and was in line with market expectations. Meanwhile, the Aug core CPI report of +2.4% y/y eased slightly from July’s +2.5% and posted a new 5.5-year low, and was in line with market expectations.
Friday’s CPI report caused the markets to raise the odds for a +25 bp FOMC rate hike at next week’s meeting on September 15-16 to 88% from 75% on Thursday.
The dollar was undercut by Friday’s weaker-than-expected US consumer sentiment report. The University of Michigan’s preliminary Sep US consumer sentiment index fell by -3.9 points to 47.8, weaker than market expectations for a -0.6 point decline to 51.3.
Oct WTI crude oil prices (CLV26) fell -2.4% on Friday, giving back part of Thursday’s +6.7% surge to a 3.5-month high. Oil prices still rose by a net +9.4% on the week, but fell back on Friday after the International Energy Agency warned that high oil prices and restricted oil supply will cause the biggest drop in global oil demand this year since the Covid-19 pandemic.
EUR/USD (^EURUSD) fell by -0.14% on Friday, pressured by the stronger dollar. The euro was undercut during the week by a net +9% rally in oil prices, a negative factor for the Eurozone economy, which is heavily dependent on imported oil. The euro had underlying support from the ECB’s interest rate hike on Thursday, which helped the euro’s interest rate differentials. The ECB also raised its 2026 Eurozone GDP forecast, a positive factor for the euro.
The markets are discounting a 78% chance of a +25 bp ECB rate hike at the ECB’s next policy meeting on October 29. The ECB, as expected, raised the deposit facility rate by +25 bp to 2.50% on Thursday and said inflation will stay above 2% for an “extended period.”
Despite gains of 1% or higher in the stock market, few stocks climbed above buy points Friday. Still, a handful of shipping, energy and space stocks broke out to new highs. Frequency Electronics (FEIM) soared 35% to an all-time high after the company easily beat sales and profit expectations for the July-ended quarter. Earnings from continuing operations jumped 485% to…
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