Showing posts sorted by date for query STRAUSS. Sort by relevance Show all posts
Showing posts sorted by date for query STRAUSS. Sort by relevance Show all posts

Friday, March 06, 2026

The sea is higher than we thought putting millions more are at risk of extreme flooding

The coastline of Efate Island, Vanuatu is visible on July 19, 2025.
 AP Photo/Annika Hammerschlag, File

By Seth Borenstein and Annika Hammerschlag with AP
Published on 

A new study highlights a 'methodological blind spot' in the way sea level rise is measured.

Rising sea levels spurred by climate change may threaten tens of millions more people than scientists and government planners originally thought. A new study, released on 4 March, exposes mistaken research assumptions on how high coastal waters already are.

Researchers examined hundreds of scientific studies and hazard assessments, calculating that about 90 per cent of them underestimated baseline coastal water heights by an average of 30 centimetres, according to the study in the journal Nature. It's a far more frequent problem in the Global South, the Pacific and Southeast Asia, and less so in Europe and along Atlantic coasts.

The cause is a mismatch between the way sea and land altitudes are measured, says study co-author Philip Minderhoud, a hydrogeology professor at Wageningen University & Research in the Netherlands.

'Methodological blind spot' in measuring coastal water levels

Minderhoud says this is a “methodological blind spot”. Each way measures their own areas properly, he says. But where sea meets land, there's a lot of factors that often don't get accounted for when satellites and land-based models are used.

Studies that calculate sea level rise impact usually “do not look at the actual measured sea level so they used this zero-metre” figure as a starting point, says lead author Katharina Seeger of the University of Padua in Italy. In some places in the Indo-Pacific, it's close to one metre, Minderhoud says.

One simple way to understand it is that many studies assume sea levels without waves or currents, when the reality at the water's edge is of oceans constantly roiled by wind, tides, currents, changing temperatures and things like El Niño, explain Minderhoud and Seeger.

Adjusting to a more accurate coastal height baseline means that if seas rise by a little more than 1 metre – as some studies suggest will happen by the end of the century – waters could inundate up to 37 per cent more land and threaten 77 million to 132 million more people, the study says.

That would trigger problems in planning and paying for the impacts of a warming world.

Sea level rise puts people at risk

"You have a lot of people here for whom the risk of extreme flooding is much higher than people thought,'' says Anders Levermann, a climate scientist at the Potsdam Institute for Climate Impacts Research in Germany, who wasn't part of the study. And Southeast Asia, where the study finds the biggest discrepancy, has the most people already threatened by sea level rise, he says.

Minderhoud points to island nations in that region as an area where the reality of discrepancy hits home.

For 17-year-old climate activist Vepaiamele Trief, the projections aren't abstract. On her island home in the South Pacific archipelago of Vanuatu, the shoreline has visibly retreated within her short lifetime, with beaches eroded, coastal trees uprooted and some homes now barely one metre from the sea at high tide.

On her grandmother’s island of Ambae, a coastal road from the airport to her village has been rerouted inland because of encroaching water. Graves have been submerged and entire ways of life feel under threat.

“These studies, they aren’t just words on a paper. They aren’t just numbers. They’re people’s actual livelihoods,” she says. “Put yourself in the shoes of our coastal communities – their lives are going to be completely overturned because of sea level rise and climate change.”

Paying attention to the starting point

This new study is pretty much about what is the truth on the ground.

Calculations that may be correct for the seas overall or for the land aren't quite right at that key intersection point of water and land, Seeger and Minderhoud says. It's especially true in the Pacific.

“To understand how much higher a piece of land is than the water, you need to know the land elevation and the water elevation. And what this paper says the vast majority of studies have done is to just assume that zero in your land elevation dataset is the level of the water. When in fact, it’s not,” says sea level rise expert Ben Strauss, CEO of Climate Central. His 2019 study was one of the few the new paper says got it right.

“It’s just the baseline that you start from that people are getting wrong," says Strauss, who wasn't part of the research.

Maybe not so bad, some scientists say

Other outside scientists say that Minderhoud and Seeger may be making too much of the problem

“I think they’re exaggerating the implications for impact studies a bit – the problem is actually well understood, albeit addressed in a way that could probably be improved,” says Gonéri Le Cozannet, a scientist at the French geological survey. Most local planners know their coastal issues and plan accordingly, Rutgers University sea level expert Robert Kopp says.

That's true in Vietnam in the high-impact area, Minderhoud says. They have an accurate sense of elevation, he says.

The findings come as a new UNESCO report warns of major gaps in understanding how much carbon the ocean absorbs. That report says that models differ by 10 per cent to 20 per cent in estimating the size of that carbon sink, raising questions about the accuracy of global climate projections that rely on them.

Together, the studies suggest governments may be planning for coastal and climate risks with an incomplete picture of how the ocean is changing.

“When the ocean comes closer, it takes away more than just the land we used to enjoy,” says Thompson Natuoivi, a climate advocate for Save the Children Vanuatu.

“Sea level rise is not just changing our coastline, it’s changing our lives. We are not talking about the future – we’re talking about the right now.”

Tuesday, December 30, 2025


WHY IS IT ALWAYS PARATROOPERS?!

German military paratrooper unit under probe over misconduct, extremism

Several dozen soldiers are being investigated for abuses, including sexual assault, "right-wing extremist and anti-Semitic incidents", violent rituals and using hard drugs, according to a local media report.

German paratroopers are performing at the Franz-Josef Strauss Bundeswehr base in Altenstadt, Germany, February 3, 2017 [FILE]. / Reuters

TRT/AA
12/29/2025

Germany's defence ministry has condemned "unacceptable" abuses in an elite paratrooper regiment amid ongoing investigations into alleged sexual misconduct and right-wing extremism.

The probe into the unit based in the southwestern town of Zweibruecken was launched after two women soldiers filed a complaint in June, the army confirmed.

The Frankfurter Allgemeine Zeitung daily said on Monday that several dozen soldiers were being investigated for abuses, including sexual assault, "right-wing extremist and antisemitic incidents", violent rituals and using hard drugs.

Defence ministry spokesperson Kenneth Harms said disciplinary action had been taken against several members of the regiment, there had been "initial dismissals", and the commander had been replaced this year.

"To be perfectly clear, right-wing extremism and inappropriate sexual behaviour are the offences in question," he said. "Neither is acceptable in the Bundeswehr, and it is therefore imperative to investigate the incidents thoroughly.

"Anyone who has committed misconduct or even criminal offences, or who, as a superior, has looked the other way or tolerated such behaviour, will be dealt with appropriately."

‘Disciplinary measures’

An army spokesperson later said that investigations had been conducted against 55 suspects and dismissal proceedings initiated against 19, of whom three had already left the service.

"A total of 16 cases have been referred to the public prosecutor's office," she added. "Disciplinary measures have also been imposed in 16 cases, and the military disciplinary prosecutor's office has opened preliminary investigations in 20 cases."

State prosecutors in Zweibruecken said in November they were looking into accusations against 19 soldiers as part of the probe, and a spokesperson on Monday said the status of the investigations "has remained largely unchanged since then".

Germany has seen previous incidents of extremism in the armed forces.

An elite army commando force was dissolved in 2020 after revelations that some of its members harboured neo-Nazi sympathies.

Europe's largest economy is looking to revamp its armed forces and recently agreed on a new military service model to attract more recruits.

Monday, December 15, 2025

EU 2035 combustion-engine ban review: what’s at stake


By AFP
December 12, 2025

European carmakers would like to be able to sell hybrid vehicles after 2035 - Copyright AFP Kirill KUDRYAVTSEV


Frédérique PRIS

The European Commission is expected to announce on Tuesday measures relaxing a 2035 ban on new petrol and diesel car sales.

While Europe’s embattled auto industry and its backers have lobbied hard for Brussels to relax the ban, they are divided on exactly what measures to take.



– Why the 2035 target date? –



In 2023, despite the reluctance of Germany, the commission announced a ban on sales of new vehicles powered by internal combustion engines from 2035. Hybrids that use a combination of combustion engines and battery power are also included.

The ban is a key measure to help attain the EU’s target of carbon neutrality by 2050.

The date is important as vehicles spend an average of 15 years on the road in the EU and thus would be expected to have largely stopped spewing planet-warming emissions by around 2050.

The 2023 announcement included a provision for a review in 2026 but, under pressure from carmakers and governments, the commission pushed forward announcing proposed adjustments to the end of 2025.

The proposals will go to the European Parliament for review.



– What adjustments are possible? –



For those against the ban, it’s no longer just a question of shifting the 2035 date, but of relaxing certain provisions.

Carmakers would like to see continued sales authorised for hybrids with rechargeable batteries or those equipped with range extenders (small combustion engines which recharge the battery instead of powering the wheels).

Germany supports this option as do eastern European nations where German carmakers have set up factories.

The ACEA association of European carmakers doesn’t criticise the goal of electrification, but it said “the 2035 CO2 targets for cars and vans are no longer realistic”.

Another possible means to add some flexibility would be boosting the use of alternative fuels such as those derived from agricultural crops and waste products.

Italy supports this option.

But environmental groups are opposed to any massive turn to crop-based biofuels as it would likely boost the use of pesticides and aggravate soil depletion, and they are also sceptical about what emissions reductions can actually be achieved.

Moreover, as a majority of biofuels are imported, the EU wouldn’t gain in autonomy, another objective of the shift to electric vehicles.



– Carmakers out of alignment? –



European carmakers — BMW, Mercedes, Renault, Stellantis and VW — are not always on the same page even if they all want the rules to be relaxed.

This is principally due to their varying progress in shifting to electric models.

The industry that has grown up around the electric car sector — such as battery manufacturers, recharge stations and electricity companies — wants to keep the 2035 target with no adjustments.

“Rolling back these objectives would undermine the EU’s energy sovereignty, industrial leadership, and climate credibility,” said the UFE, a trade group for French electricity industry firms.

France, along with Spain and the Nordic countries, has long called for keeping to the trajectory to shift to electric vehicles in order to not harm firms that have made investments in the transition.

Paris has indicated it is open to some flexibility on the condition of local content being favoured, which pleases suppliers which have also come under intense pressure from cheaper Chinese competition.



– Is there a risk in backsliding? –



Yes, according to experts.

“What is considered a short-term advantage may not be one in the long term,” said Jean-Philippe Hermine at the IDDRI think tank that focuses on the transition in the transport sector.

Bernard Jullien, an economist at the University of Bordeaux, said keeping several different technologies imposes extra costs for companies.

It can also create uncertainty for them if consumers adopt a wait-and-see attitude, he added.

“Between China and its electric vehicles and the oil that Saudi Arabia and the United States wants to sell us, is the right choice to stick with our old technology?” asked Diane Strauss, head of the French office of T&E, an advocacy group for clean transport and energy.

Monday, October 27, 2025

Amazon targets as many as 30,000 corporate job cuts, sources tells Reuters

WHITE, BLUE, PINK 
THE COLOR OF YOUR COLLAR DOESN'T MATTER, 
WE ARE ALL PROLETARIANS NOW


By Reuters
Published: October 27, 2025 



Amazon is planning to cut as many as 30,000 corporate jobs beginning on Tuesday, as the company works to pare expenses and compensate for overhiring during the peak demand of the COVID-19 pandemic, according to three people familiar with the matter.

The figure represents a small percentage of Amazon’s 1.55 million total employees, but nearly 10 per cent of the company’s roughly 350,000 corporate employees. This would represent the largest job cut at Amazon since around 27,000 jobs were eliminated starting in late 2022.

An Amazon spokesperson declined to comment.

Amazon has been trimming smaller numbers of jobs over the past two years across multiple divisions, including devices, communications, podcasting and others. The cuts beginning this week may impact a variety of divisions within Amazon, including human resources, known as People Experience and Technology, devices and services and operations, among others, the people said.

Managers of impacted teams were asked to undergo training on Monday for how to communicate with staff following email notifications that will start going out on Tuesday morning, the people said.

Amazon CEO Andy Jassy is undertaking an initiative to reduce what he has described as an excess of bureaucracy at the company, including by reducing the number of managers. He installed an anonymous complaint line for identifying inefficiencies that has elicited some 1,500 responses and over 450 process changes, he said earlier this year.

 Andy Jassy, Amazon president and CEO, attends the premiere of "The Lord of the Rings: The Rings of Power" at The Culver Studios on Monday, Aug. 15, 2022, in Culver City, Calif. (Photo by Jordan Strauss/Invision/AP, File)

Jassy said in June that the increased use of artificial intelligence tools would likely lead to further job cuts, particularly through automating repetitive and routine tasks.

“This latest move signals that Amazon is likely realizing enough AI-driven productivity gains within corporate teams to support a substantial reduction in force,” said Sky Canaves, an eMarketer analyst. “Amazon has also been under pressure in the short-term to offset the long-term investments in building out its AI infrastructure.”

The full scope of this round of job cuts was not immediately clear. The people familiar with the matter said the number could change over time, as Amazon’s financial priorities shift. Fortune earlier reported that the human resources division could be targeted with a cut of roughly 15 per cent.

Layoffs.fyi, a website tracking tech job cuts, estimated that about 98,000 jobs have been lost so far this year among 216 companies. For all of 2024, the figure was 153,000.

Amazon’s largest profit center, cloud computing unit Amazon Web Services, reported sales in the second quarter of US$30.9 billion, a 17.5 per cent increase that was well below the sales gains for Microsoft’s Azure and Google Cloud, which gained 39 per cent and 32 per cent, respectively. Google Cloud is owned by Alphabet.

Estimates indicate that AWS will have boosted third-quarter sales by about 18 per cent to $32 billion, a slight slowdown from last year’s 19 per cent increase. AWS is still reeling from a roughly 15-hour internet outage last week that felled many of the most popular online services, like Snapchat and Venmo.

Indications are that Amazon is expecting another big holiday selling season. The company said it plans to offer 250,000 seasonal jobs to help staff warehouses, among other needs, the same as in the prior two years.

Amazon shares were up 1.3 per cent at $227.11 near the close of trading on Monday. The company plans to report third-quarter earnings on Thursday.


Greg Bensinger, Reuters

Tuesday, September 30, 2025

 

Doctors and nurses are better than AI at triaging patients



European Society for Emergency Medicine (EUSEM)
Doctors and nurses are better than AI at triaging patients 

image: 

Dr Renata Jukneviciene

view more 

Credit: Dr Renata Jukneviciene




Vienna, Austria: Doctors and nurses are better at triaging patients in emergency departments than artificial intelligence (AI), according to research presented at the European Emergency Medicine Congress today (Tuesday) [1].

However, Dr Renata Jukneviciene, a postdoctoral researcher at Vilnius University, Lithuania, who presented the study, said that AI could be useful when used in conjunction with clinical staff, but should not be used as a stand-alone triage tool.

“We conducted this study to address the growing issue of overcrowding in the emergency department and the escalating workload of nurses,” said Dr Jukneviciene. “Given the rapid development of AI tools like ChatGPT, we aimed to explore whether AI could support triage decision-making, improve efficiency and reduce the burden on staff in emergency settings.”

The researchers distributed a paper and digital questionnaire to six emergency medicine doctors and 51 nurses working in the emergency department of Vilnius University Hospital Santaros Klinikos. They asked them to triage clinical cases selected randomly from 110 reports cited in the PubMed database on the internet. The clinical staff were required to classify the patients according to urgency, placing them in one of five categories from most to least urgent, using the Manchester Triage System. The same cases were analysed by ChatGPT (version 3.5).

A total of 44 nurses (86.3%) and six doctors (100%) completed the questionnaire.

“Overall, AI underperformed compared to both nurses and doctors across most of the metrics we measured,” said Dr Jukneviciene. “For example, AI’s overall accuracy was 50.4%, compared to 65.5% for nurses and 70.6% for doctors. Sensitivity – how well it identified true urgent cases – for AI was also lower at 58.3% compared to nurses, who scored 73.8%, and doctors, who scored 83.0%.”

Doctors had the highest scores in all the areas and categories of urgency that the researchers analysed.

“However, AI did outperform nurses in the first triage category, which are the most urgent cases; it showed better accuracy and specificity, meaning that it identified the truly life-threatening cases. For accuracy, AI scored 27.3% compared to 9.3% for nurses, and for the specificity AI scored 27.8% versus 8.3%.”

The distribution of cases across the five categories of urgency was as follows:

 1
Most urgent
2     3   3   5
Least urgent
      
Doctors

9%

21%

29%

23%

18%

Nurses

9%

15%

35%

35%

6%

AI

29%

24%

43%

3%

1%

 

“These results suggest that while AI generally tends to over-triage, it may be somewhat more cautious in flagging critical cases, which can be both a strength and a drawback,” said Dr Jukneviciene.

Doctors also performed better than AI when considering cases that required or involved surgery, and in cases that required treatment with medication or other non-invasive therapies. For surgical cases, doctors scored 68.4%, nurses scored 63.% and AI scored 39.5% for reliability. For therapeutic cases, doctors scored 65.9%, nurses scored 44.5% and AI did better than nurses, scoring 51.9% for reliability.

“While we anticipated that AI might not outperform experienced clinicians and nurses, we were surprised that in some areas AI performed quite well. In fact, in the most urgent triage category, it demonstrated higher accuracy than nurses. This indicates that AI should not replace clinical judgement, but could serve as a decision-support tool in specific clinical contexts and in overwhelmed emergency departments.

“AI may assist in prioritising the most urgent cases more consistently and in supporting new or less experienced staff. However, excessive triaging could lead to inefficiencies, so careful integration and human oversight are crucial. Hospitals should approach AI implementation with caution and focus on training staff to critically interpret AI suggestions,” concluded Dr Jukneviciene.

The researchers are planning follow-up studies using newer versions of AI and AI models that are fine-tuned for medical purposes. They want to test them in larger groups of participants, include ECG interpretation, and explore how AI can be integrated into nurse training, specifically for triage and incidents involving mass casualties.

Limitations of the study include its small numbers, that it took place in a single centre, and that the AI analysis took place outside a real-time hospital setting, so it was not possible to assess how it could be used in the daily workflow; nor was it possible to interact with patients, assess vital signs and have follow-up data. In addition, ChatGPT 3.5 was not trained specifically for medical use.

Strengths of the study were that it used real clinical cases for comparison by a multidisciplinary group of doctors and nurses, as well as AI; its accessibility and flexibility was increased by distributing the questionnaire digitally and on paper; it was clinically relevant to current healthcare challenges such as overcrowding and staff shortages in the emergency department; and the study identified that AI over-triages many patients, assigning higher urgency to them, which is crucial knowledge for the safe implementation of AI in emergency departments.

Dr Barbra Backus is chair of the EUSEM abstract selection committee. She is an emergency physician in Amsterdam, The Netherlands, and was not involved in the study. She said: “AI has the potential to be a useful tool for many aspects of medical care and it is already proving its worth in areas such as interpreting x-rays. However, it has its limitations, and this study shows very clearly that it cannot replace trained medical staff for triaging patients coming in to emergency departments. This does not mean it should not be used, as it could aid in speeding up decision-making. However, it needs to be applied with caution and with oversight from doctors and nurses. I expect AI will improve in the future, but should be tested at every stage of development.”

On Monday 29 September, a colleague of Dr Jukneviciene’s, assistant professor Rakesh Jalali, from the University of Warmia and Mazury (Olsztyn, Poland), gave a presentation at the congress on the use of virtual reality to train clinical staff how to treat patients who have been subject to multiple traumatic injuries [2].

(ends)

[1] Abstract no: OA008, “Patient triaging in the ED: can artificial intelligence become the gold standard?” by Renata Jukneviciene, AI/Innovations session, Tuesday 30 September, 16:45-18:15 hrs CEST, Schubert 5 room: https://eusem.floq.live/kiosk/eusem-2025/dailyprogramme?objectClass=timeslot&objectId=68871e9e626af251d24be41d&type=detail

[2] ‘Enhancing medical simulation training: multicenter MedEd polytrauma VR project’, by Rakesh Jalali, Multinational-multicentric research projects in 2025 session, Monday 29 September, 16:45-18:15 hrs CEST, Strauss 1 room: https://eusem.floq.live/kiosk/eusem-2025/dailyprogramme?objectClass=timeslot&objectId=684ac10b86142240f858937a&type=detail

Saturday, September 27, 2025

Emergency medicine workers report job satisfaction, though burnout and staff retention remain major problems





European Society for Emergency Medicine (EUSEM)





Vienna, Austria: One of the largest international surveys into job satisfaction among emergency department workers has revealed that while the majority found their work satisfying and rewarding, there are still many areas where improvements are needed, according to research presented at the European Emergency Medicine Congress today (Sunday) [1]. The paper, “Global Job Satisfaction Among Emergency Medicine Professionals: Results from the 2025 Emergency Medicine Day Survey”, is published today in the European Journal of Emergency Medicine. [2]

The survey, conducted by the EUSEM Emergency Medicine Day Working Group, received responses from 1,112 healthcare providers in 79 countries, and represents one of the largest and most comprehensive global assessments of emergency medicine (EM) workforce well-being to date. EM professionals face persistent challenges including excessive workloads, high pressure, shift/night work and emotional stress. While job satisfaction is essential for workforce sustainability, quality of patient care and staff retention, international data on this topic remain limited.

The average satisfaction score among participants was 25.37 out of 36 and reflected a generally positive sentiment, but Professor Luis Garcia-Castrillo from the Marquès de Valdecilla University Hospital, University of Cantabira, Santander, Spain, says career development opportunities, work organisation, and workload received relatively low scores.

“These are areas where action is needed urgently if specialist staff are to be retained and new team members recruited,” he says.

EM professionals working in high-volume emergency departments that received more than 100,000 visits a year reported significantly lower job satisfaction, as did those in mid-career with between five- and 20-years’ experience. While satisfaction did not vary significantly by gender, academic role, or hospital type, the survey highlights that nurses and paramedics reported higher satisfaction levels than physicians, particularly in workload and organisational aspects.

“Co-worker support, organisational commitment, and professional fulfilment were the most positively-rated factors. We also found that respondents intending to stay in their current role over the next year had significantly higher satisfaction scores, and this emphasises the important link between well-being and staff retention,” says Prof Castrillo.

“The very nature of EM means that it places high demands on staff, but we have shown that with professional support, good team work and a sense of purpose, such demands do not inhibit their enthusiasm for their work. But we cannot emphasise enough that strategies are needed to strengthen leadership, support mid-career staff, improve work-life balance and create clear professional growth opportunities. There are urgent red flags around the incidence of burnout, especially in departments with a very high patient demands,” says the paper’s first author, Professor Roberta Petrino, from the Ente Ospedaliere Cantonale, Lugano, Switzerland.

The team plans to publish additional findings and to conduct further analyses of the data, including differences between countries and systems.

Emergency Medicine Working Group Chair, Dr Basak Yilmaz, from the Emergency Medical Services of Burdur Provincial Health Directorate, Burdur, Turkiye, says: “Our data are already sufficient to be useful to local and national EM bodies as a benchmark for improving staff retention and care quality. One of our most striking findings is the strong correlation between job satisfaction and professional retention. This is important, not just for individual staff members, but also for the sustainability of the EM system as a whole.”

(ends)

[1] Emergency Medicine is a happy journey: the results of a global survey, Emergency Medicine Day session, Sunday 28 September, 16:30 - 18:00 hrs CEST, Strauss rooms 2+3.

[2] DOI: 10.1097/MEJ.0000000000001272

Sunday, September 21, 2025

From Skechers to Foot Locker: Tariff chaos spurs record-high footwear, apparel deals

By Reuters
 September 18, 2025

Nike products appear on display at the SIX:02 shop inside Foot Locker's redesigned Manhattan flagship store in New York. (AP Photo/Mary Altaffer, File)

U.S. President Donald Trump’s trade war is helping to push U.S. clothing and footwear acquisitions to all-time highs this year, with some companies merging to help offset tariff costs while others go private to weather the next 3-1/2 years of his presidency outside of the public market, dealmakers say.

Popular sneaker company Skechers announced a US$9.42 billion deal in early May to go private days after it pulled its annual earnings forecasts and sent a letter, along with 75 other footwear companies, telling Trump the tariffs were an “existential threat” to the industry.

Sneaker seller Foot Locker, which also signed the letter to Trump, in May accelerated its US$2.4 billion sale to Dick’s Sporting Goods.Trade War coverage on BNNBloomberg.ca

While both deals were in the works for months, bankers and analysts said Trump’s tariffs are creating both chaos and opportunity for retailers and brands for some tie-ups.

It has driven dealmaking in the U.S. footwear and apparel sectors to roughly US$21 billion in deals announced year-to-date.


With more than three months left in the year, that figure is already a record, according to LSEG data dating to the 1970s, and particularly surprising for an industry where valuations are not nearly as lofty as, say tech or financial services.

The previous record for U.S. apparel and footwear M&A was last year’s US$16.1 billion in deals, and before that, 2021 with US$15.6 billion, according to LSEG.

“Scale is more important in a tariff-rich environment because you can negotiate better terms across a larger base with many of your counterparties,” said Carmen Molinos, Morgan Stanley’s global co-head of consumer retail investment banking.

Morgan Stanley advised Canadian apparel maker Gildan Activewear on its deal last month to buy U.S. underwear maker Hanesbrands for US$2.2 billion.

Both companies produce more in Central America and the Caribbean than in Asia, and mostly use U.S.-grown cotton, giving them some protection from tariffs. The combination insulates them more from fluctuating geopolitics, and Gildan was one company looking to get bigger amid the chaos.

“We think that we’re really well aligned to take advantage, actually, of this near-shoring opportunity,” Gildan’s CEO and co-founder Glenn Chamandy said on an August investor call about the deal.

Tariffs were a shock to the system that showed retailers just how quickly their businesses can get disrupted and highlighted the importance of scale, several bankers said.

“In moments of turmoil and change, those who are in a position of strength are looking to build up on those strengths and if they see the right strategic fit, they’re taking advantage (and buying),” said JPMorgan’s Jonathan Dunlop, co-head of North America consumer & retail investment banking.

This year, JPMorgan advised 3G Capital for Skechers and brand management firm Authentic Brand Group’s US$1.4 billion deallast month for Guess.

Authentic also picked up Dockers from Levi Strauss, while another brand management firm Bluestar Alliance announced a deal to buy Dickies from VF Corp this week.


Brand management firms typically buy a brand’s IP and then license it to operating partners that have the manufacturing, design and sales responsibilities.

“The brand management companies have been some of the most prolific acquirers of both middle market and a handful of multi-billion dollar retail brands,” said David Shiffman, partner and head of Consumer Retail at Solomon Partners. The bank advised the special committee of Guess.

Navigating the uncertainty

Going private, like in Skechers’ case, is becoming an increasingly attractive option to navigate the uncertainty without the pressure of public quarterly reporting, especially if companies feel the public market is not valuing them appropriately.

Foot Locker, meanwhile, had been in discussions about a sale since Dick’s Executive Chairman Edward Stack first reached out to rival CEO Mary Dillon in January 2024.

Trump’s April 2 self-styled “Liberation Day,” when he announced sweeping new global tariffs, helped seal the deal a bit earlier than expected, according to an SEC filing.

Foot Locker said tariffs were causing the company’s stock to drop and it was headed for a weaker-than-expected first-quarter earnings report that executives worried would further drive down its shares.

The board decided on May 10 to try to bring “negotiations to a close quickly,” it said in a securities filing. The next four days were a flurry of paperwork and legal meetings before the companies announced their deal – with two weeks to spare before reporting earnings.

Bankers say to watch for more tie-ups later this year as stronger retailers look for more deals and more struggling companies look for partners.

Private equity firm Bain Capital is trying to offload its stake in Canada Goose and Lands’ End has received offers from brand management firms.

---

Reporting by Abigail Summerville in New YorkEditing by Marguerita Choy