NASHVILLE, Tenn.--(BUSINESS WIRE)--Mar 4, 2026--
Soles4Souls, the global nonprofit turning shoes and clothing into opportunity, today announced the acquisition of Erren Recondition, a European leader in footwear and apparel reconditioning. The acquisition significantly expands Soles4Souls’ ability to help brands and retailers extend product life, reduce waste and create economic opportunity through scalable circular solutions.
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This acquisition strengthens Solutions4Good, Soles4Souls’ circular solutions platform that provides brands with responsible pathways for sorting, reconditioning, recommerce, repurposing and reuse.
“Erren has spent years building a reputation for quality, innovation and reliability in circular reconditioning,” said Buddy Teaster, President & CEO of Soles4Souls. “Combining their expertise with our global mission allows us to create even more impactful solutions—helping partners reduce waste, deepen sustainability commitments and create lasting economic opportunity.”
Erren Recondition will continue operating in continental Europe as “Erren Recondition, a Soles4Souls company,” preserving its trusted brand and technical leadership in the region. In the United Kingdom and United States, Soles4Souls will integrate Erren’s expertise directly into its operations, expanding its ability to deliver circular solutions through a unified global platform.
This acquisition strengthens Solutions4Good, Soles4Souls’ circular solutions platform that provides brands with responsible pathways for sorting, reconditioning, recommerce, repurposing and reuse. Brands looking to partner with S4S can email solutions4good@soles4souls.org.
For more information on Soles4Souls and how to partner with us, go to Soles4Souls.org.
About Soles4Souls
For 20 years, Soles4Souls has turned more than 116 million pairs of shoes and pieces of clothing into opportunity, dignity, and independence. Through footwear-first programs, community engagement, and circular solutions for brands and retailers, Soles4Souls keeps quality products in use and out of landfills—while delivering measurable outcomes for students, people in need, and entrepreneurs. Headquartered in Nashville, Tennessee, the nonprofit operates across four continents. In Europe, Soles4Souls operates through its subsidiary, Soles4Souls Europe Stichting. In 2026, Soles4Souls is celebrating its 20th anniversary by reflecting on its journey, celebrating our collective impact, and envisioning bold ideas for the next 20 years. Step Forward with us at soles4souls.org.
About Erren Recondition
Erren Recondition, founded in 1980, is a leading specialist in high-quality reconditioning of shoes, clothing, and accessories. The company offers a wide range of services, including sorting, cleaning, washing, repairing, finishing, label corrections, quality control, and packaging. With in-depth technical expertise, Erren ensures that products are made market-ready and do not have to be destroyed — a sustainable solution that creates both economic and ecological value. Learn more at Erren.com.
“Combining their expertise with our global mission allows us to create even more impactful solutions—helping partners reduce waste, deepen sustainability commitments and create lasting economic opportunity," said Buddy Teaster, President & CEO of Soles4Souls.
By combining Soles4Souls’ global network and impact expertise with Erren’s decades of technical reconditioning leadership, the organization is establishing an integrated platform that keeps products in use longer while delivering measurable environmental and social outcomes.
NEW YORK (AP) — The U.S. stock market is holding steadier on Wednesday, for now at least, following two days of punishing swings driven by worries about how high oil prices will go because of the war with Iran.
The S&P 500 rose 0.2% in early trading. The Dow Jones Industrial Average was down 9 points, or less than 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.6% higher.
Early-morning trends for Wall Street have not held through the day this week, though. Uncertainty about the war has sent prices in financial markets careening up and down hour by hour, with most taking their cues from what the price of oil is doing. Earlier on Wednesday, South Korea’s Kospi stock index plunged 12.1% for its worst day in history.
But oil prices eased as the trading day moved westward from Asia to Europe. By the time Wall Street was trading, Brent crude, the international standard, slipped 0.3% to $81.13 per barrel. The price for a barrel of benchmark U.S. crude added 0.7% to $75.10.
An announcement by President Donald Trump on Tuesday afternoon helped stem the surge for oil prices, when he said the U.S. Development Corp. would provide insurance for oil tankers and other ships going through the Strait of Hormuz off Iran’s coast. He also said the U.S. Navy could escort tankers through the strait, “if necessary.”
That helped calm worries that flared earlier following an Iranian threat to set fire to any ship crossing through the narrow passageway. It’s a route typically taken by roughly a fifth of the world’s oil.
To be sure, the promise of insurance and a possible military escort “only mitigate, but do not eliminate, enduring upside risks to oil prices,” Mizuho Bank said in a commentary. The increased insurance costs filtering through to shipping would ultimately cost an extra $5 to $15 a barrel, it said, adding that the "‘war premium’ remains firmly intact.”
In financial markets, worries are centered on how long the war could last, how high inflation will go because of more expensive oil and how much corporate profits will sink because of it.
“I think the Iran situation is getting out of hand, and I think that U.S. President Donald Trump miscalculated enormously,” said Francis Lun, CEO of Venturesmart Asia. “The situation is very grim.”
But the U.S. stock market also has a history of shaking off military conflicts in the Middle East relatively quickly, though that comes with a caveat that oil prices don’t jump too high. That has some professional investors suggesting patience, as difficult as it may be to muster, through the uncertainty, at least when it comes to financial markets.
In stock markets abroad, indexes rebounded in Europe following sharp drops in Asia. France’s CAC 40 rose 1.1%, and Germany’s DAX climbed 1.6%. That followed losses of 2% for Hong Kong’s Hang Seng and 3.6% for Japan’s Nikkei 225.
In the bond market, Treasury yields inched higher after jumping early in the week with worries about worsening inflation. The yield on the 10-year Treasury rose to 4.07% from 4.06% late Tuesday.
It also got some upward pressure from a report suggesting U.S. employers outside of the government picked up their hiring last month by more than economists expected. That could be an encouraging signal for the more comprehensive report coming Friday from the U.S. government about the strength of the job market.
AP Writers Matt Ott, Kim Tong-hyung and Elaine Kurtenbach contributed.
Anthony Spina works on the floor at the New York Stock Exchange in New York, Tuesday, March 3, 2026. (AP Photo/Seth Wenig)
Anthony Confusione works on the floor at the New York Stock Exchange in New York, Tuesday, March 3, 2026. (AP Photo/Seth Wenig)
A dealer walks near the screens showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, March 4, 2026. (AP Photo/Lee Jin-man)
A dealer talks on the phone at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, March 4, 2026. (AP Photo/Lee Jin-man)
A dealer walks past near a screen showing the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, March 4, 2026. (AP Photo/Lee Jin-man)
A dealer walks past near a screen showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, March 4, 2026. (AP Photo/Lee Jin-man)
A person walks by an electronic stock board showing Japan's Nikkei index at a securities firm in Tokyo Wednesday, March 4, 2026. (Masanori Kumagai/Kyodo News via AP)
