Tag: Sports Clothing/Footwear
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Does Nike have too many sneakers? Its financial results could tell us whether shoes will get cheaper.
[ad_1] Are stores getting more desperate to sell sneakers? Fourth-quarter results from Nike Inc. on Thursday will probably provide part of the answer. Even as its some of its basketball shoes still put up double-digit sales gains — like those named after NBA icons LeBron James, Luka Doncic and Giannis Antetokounmpo — the athletic-gear maker,…
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Second-quarter corporate profits are set for their biggest drop since the start of the pandemic. But then the worst could be over.
[ad_1] Wall Street is expecting a third straight quarter of falling profits and the worst decrease since the pandemic in 2020, when second quarter earnings are reported in July, but that may be the bottom for this year. Wall Street expects per-share profit for S&P 500 index companies to fall 6.5% for the second quarter,…
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Under Armour’s new CEO says women will be a key target customer
[ad_1] Under Armour Inc.’s new chief executive is planning to make women a key target customer for the athletic apparel and footwear maker. “At less than a quarter of our revenue, we are still not cutting through enough to realize the growth available in the marketplace,” Stephanie Linnartz told analysts on the company’s earnings call…
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Adidas reports slightly better sales, but still expects loss from Yeezy writedown
[ad_1] Adidas XE:ADS is still looking at options for leftover Yeezy stock but continues to expects a major operating loss this year if it writes off the sneakers, it said Friday as it reported first-quarter sales that were a little better than expected. Revenue in North America and Greater China remained negative on year in…
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Lululemon reportedly looking to sell Mirror, 3 years after $500 million purchase
[ad_1] Lululemon Athletica Inc. is looking to sell its Mirror in-home fitness business, according to reports Tuesday, three years after acquiring it for about $500 million. Bloomberg News reported Tuesday morning that Lululemon LULU, +1.12% was working with an adviser to solicit interest in the business. Later in the day, CNBC reported that Hydrow, a…