Allbirds

SoftBank CEO Questions Musk’s Orbital Data Center Plan

TechCrunch’s Equity podcast covered Masayoshi Son’s public skepticism about Elon Musk’s proposal to build orbital data centers, arguing they won’t meaningfully cut costs and would take years to materialize — a poor fit for the near-term AI compute race. The episode discussed the broader compute supply debate, referencing OpenAI’s custom chip plans, Groq’s $650 million funding round, and SpaceX’s recent deals to rent out compute (including a post‑IPO arrangement with a smaller AI lab). Guests noted that orbital data centers could benefit SpaceX’s launch business by increasing satellite replacement activity, while SoftBank itself remains heavily invested in terrestrial data center projects. The piece frames the discussion as industry actors promoting futures that advantage their own businesses amid high uncertainty over AI infrastructure timelines and economics.

Adidas launches PPE footwear; Five Below names C-suite

Retail Dive's weekly roundup reports several retail updates: Adidas and Glo Brands B.V. launched the Adidas Pro Work certified safety footwear collection — the brand’s first personal protective equipment offering — to be sold across European markets starting in August at €100–€150. Discount retailer Five Below appointed Rodney Lastinger as chief retail officer and Christos Yatrakis as chief legal officer. Candy brand M&M’s became an official supplier to the Tour de France and Tour de France Femmes (including Zwift competitions). True Religion plans to open four U.S. stores and hired Kristen Jones as vice president of retail. Separately, reports surfaced about a possible Nike strategy to limit online distribution in China amid recent sales declines in the region.

Reformation Files IPO Showing Profitable DTC Model

Reformation has filed a registration statement for a proposed initial public offering with the U.S. Securities and Exchange Commission and plans to list on the New York Stock Exchange under the ticker REF. The womenswear brand reported roughly $507 million in net revenue and $12.6 million in net income for 2025, and says it produced positive net income from 2018 through 2025 (except 2020). About 90% of revenue comes from direct-to-consumer channels. The company highlighted its patented Retail X showroom technology — used in ~75% of stores as of Q1 2026 — which it says raises average order value by 8.5%. Reformation reported 20 consecutive quarters of double-digit net revenue growth, operates 70 owned stores and 142 wholesale locations (via 15 wholesale accounts), and plans product and international expansion.