Good morning. This is Megan Graham filling in for Nat Ives. Today, Unilever appointed a new CEO for Ben & Jerry's in an escalation with the brand's board; Levi Strauss & Co.'s direct-to-consumer business is thriving despite tariff concerns; and Aritzia updated its guidance given lower U.S. tariffs on goods from China. 

Unilever has appointed a new CEO for Ben & Jerry’s, stepping up a dispute with the ice-cream brand’s independent board, Natasha Khan reports. 

Jochanan Senf, a longtime Unilever executive who previously served as managing director of Ben & Jerry’s Europe business, will start in the new role this month.

Unilever is embroiled in a legal fight with Ben & Jerry’s independent social-mission board over issues including the removal of the brand’s previous chief executive, David Stever. The board in a March legal filing accused Unilever of ousting Stever because he had defended the brand’s social-activism efforts.

In an unusual provision of the acquisition agreement Unilever struck with Ben & Jerry’s more than two decades ago, the brand’s independent board retains decision-making about its social mission and marketing. The board and Unilever have fought bitterly for years over the brand’s social activism—particularly its public stances on Israel and the Palestinian territories.

Levi Strauss & Co. raised its fiscal-year guidance as its direct-to-consumer business is flourishing despite tariff concerns, Katherine Hamilton reports. 

The apparel company said Thursday it is now expecting annual revenue to increase 1% to 2%, after previously guiding for a 1% to 2% decline in fiscal-year sales. 

Strong results in the first half of the year prompted Levi Strauss to boost its outlook, as the jeans maker is putting more effort into its direct-to-consumer business over its wholesale segment, Chief Financial Officer Harmit Singh said. The pivot in expectations comes after Levi Strauss said tariffs were creating an uncertain consumer environment and it was planning to raise some prices.

Aritzia said it expects its fiscal-year results to be better than previously projected given lower U.S. tariffs on goods from China, though added costs will continue to pose challenges, Kelly Cloonan reports. 

The Canadian clothing retailer said Thursday it now expects its adjusted earnings before interest, taxes, depreciation and amortization margin to be about 15.5% to 16.5% for the year, up from May’s projection of 14% to 15%.

The updated guidance reflects lower U.S. reciprocal tariff rates on Chinese goods, Chief Executive Jennifer Wong said during a call with analysts.

Like many other retailers, Aritzia sources much of its apparel from China, putting it at risk of higher tariff-driven costs given its large and growing presence in the U.S. The company has been able to avoid heavier levies in recent months after President Trump pressed pause on the 145% tariff he added to Chinese goods back in April, lowering the added levy to 30% for the time being.

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Brunello Cucinelli logs robust growth as wider luxury sector navigates uncertainty. [WSJ]

Uniqlo owner's quarterly profit drops on weaker China business. [WSJ]

Cannes Lions updates awards standards following string of controversies. [Ad Age] 

Ferrero strikes roughly $3 billion deal for maker of Froot Loops, Frosted Flakes. [WSJ]

Ulta Beauty acquires Space NK as it speeds up international expansion. [WWD]

Delta Air Lines shares jump despite travel slowdown. [WSJ]

Comscore, iSpot and VideoAmp get another stamp of approval from joint industry committee. [Ad Exchanger]

Conagra expects worsening inflation to hurt sales this year. [WSJ]

Warby Parker hasn't had a CMO for more than a year. [Adweek]