Most of President Donald Trump’s global tariffs are illegal, a US federal appeals court ruled last week, saying the President exceeded his authority in using emergency powers to impose them.

However, the judges allowed the tariffs to stay in place as the case continues to be adjudicated in a lower court.

Most of President Donald Trump’s global tariffs are illegal, a US federal appeals court has ruled, saying Trump exceeded his authority in using emergency powers.
However, the judges allowed the tariffs to stay in place as the case continues to be adjudicated in a lower court.
Trump responded, saying his administration will use tariffs to benefit the nation with the help of the Supreme Court.

The ruling reaffirms an earlier ruling by the Court of International Trade.

“ALL TARIFFS ARE STILL IN EFFECT!,” Trump responded to the decision on Truth Social. He also called the court ‘Highly Partisan’, adding , “with the help of the United States Supreme Court, we will use [tariffs] to benefit our nation.”

“The retail industry is at the mercy of a tug-of-war between the courts, the administration and the congress when trying to plan and implement business operations and supply chain continuity. Tariffs have created significant disruption to the retail supply chain resulting in increased costs for retailers large and small,” National Retail Federation (NRF) vice president of supply chain and customs policy Jonathan Gold said in a statement.

“The ongoing instability threatens economic growth and will ultimately, and most certainly, result in higher prices for goods and services to be paid by American consumers. Retailers need certainty, and we look forward to the case being settled by the Supreme Court,” he added.

Meanwhile, due to reported US pressure on Mexico, the latter is set to raise duties on Chinese goods under its 2026 budget plan. The proposal, due next month, targets cars, textiles and plastics. Trump had earlier claimed that cheap Chinese goods slip into Mexico before heading north.

Fibre2Fashion News Desk (DS)

American chain of sporting goods stores Dick’s Sporting Goods, Inc has announced record second-quarter (Q2) results for the period ended August 2, 2025, with net sales climbing 5 per cent year-over-year (YoY) to $3.65 billion. Comparable sales rose 5 per cent, driven by higher average ticket values and increased transactions.

The net income reached $381 million, up 5 per cent from $362 million a year earlier. Earnings per diluted share stood at $4.71, compared with $4.37 in Q2 FY24. On a non-GAAP basis, EPS was $4.38, nearly flat versus last year’s $4.37, Dick’s said in a press release.

Dick’s Sporting Goods has posted record Q2 FY25 results with net sales up 5 per cent to $3.65 billion and comparable sales rising 5 per cent.
Net income reached $381 million, while EPS grew to $4.71.
The retailer ended with 889 stores, raised FY25 EPS guidance to $13.9–14.5, and expects 2–3.5 per cent comp growth, supported by strong execution and the pending Foot Locker acquisition.

The company ended the quarter with 889 stores across formats, after opening 11 and closing 7 locations year-to-date. Total selling space rose slightly to 45.1 million square feet from 44.8 million square feet. The growth was led by specialty banners including Golf Galaxy and Going Going Gone!, alongside expansions of House of Sport and Field House concepts, offsetting three closures in core Dick’s stores.

“We are very pleased with our strong Q2 results. Our performance shows the strength of our long-term strategies, the resilience of our operating model, and the consistent execution of our team,” said Lauren Hobart, president and CEO at Dick’s.

“With Q2 comps at 5 per cent, our momentum continues to build – a clear reflection of the strength of our long-term strategies and investments. We remain very enthusiastic about the strategic benefits from the Foot Locker acquisition. As previously shared, Foot Locker shareholders approved the transaction. We have also received all required regulatory approvals, and we anticipate that the deal will close on September 8^th,” said Ed Stack, executive chairman at Dick’s.

As of August 2, 2025, cash and equivalents stood at $1.23 billion, down from $1.69 billion last year, while inventories increased 7 per cent to $3.40 billion. The company repurchased $299 million worth of shares and paid $196 million in dividends in the first half of FY25. On August 27, the board declared a quarterly dividend of $1.2125 per share, payable September 26, 2025.

With robust sales momentum, disciplined capital allocation, and the pending integration of Foot Locker, Dick’s Sporting Goods continues to strengthen its position as a leading US omni-channel sporting goods retailer.

For fiscal 2025, Dick’s Sporting Goods projects earnings per diluted share between $13.9 and $14.5, up from prior guidance. Net sales are expected in the range of $13.75–13.95 billion, with comparable sales growth of 2–3.5 per cent. Capital expenditures are set at about $1.2 billion gross and $1 billion net.

Fibre2Fashion News Desk (SG)