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All articles tagged with #business fashion

business-fashion1 year ago

Nike's Market Struggles: Earnings Beat Fails to Impress, Shares Slide

Nike plans to scale back on classic shoe franchises and reduce supply of underperforming products in a $2 billion savings plan, as it faces competition from newer brands like On and Hoka. The company's revenue forecast for fiscal 2025 is a low single-digit percentage decrease, and it aims to focus on developing new products and upcoming launches to drive growth. Despite beating Wall Street estimates for third-quarter revenue and profit, Nike's stock fell 5.6% in extended trading as it grapples with losing market share in the running category and aims to draw back customers with new sneaker launches.

via New York Post |
#business-fashion#market-share#new-products
business-fashion1 year ago

Kering's Gucci Profit Warning Erases $7.6 Billion in Market Value

Kering SA, the parent company of Gucci, saw its shares plummet after warning of a 20% sales decline at Gucci in the first quarter, resulting in a €7 billion market value loss. The sales slump, particularly in the Asia-Pacific region, widens the gap between Kering and its luxury rivals like LVMH and Hermes. The company has been struggling to revitalize Gucci, with the new designer's collection receiving mixed reviews. The unexpected announcement has raised concerns about the state of consumer spending and China's economy, impacting other fashion companies' stocks as well.

via Yahoo Finance|
#business-fashion#china-market#gucci
business-fashion1 year ago

"Analyzing Nike's Stock Performance and the Need for Innovative Sneaker Designs"

Analysts suggest that Nike needs to focus on innovation and new sneaker designs rather than relying solely on retro styles to maintain its market position, as competition from brands like Hoka and Lululemon increases. Despite the popularity of retro silhouettes, the rise of new foam platforms and the success of younger brands highlight the need for Nike to accelerate its pace of innovation. While Nike is working on new products like the Air Max Dn and Pegasus 41, the company faces the challenge of adapting to changing consumer preferences and staying ahead in "The Sole Wars."

via Yahoo Finance|
#business-fashion#competition#innovation
business-fashion2 years ago

Burberry's Profit Warning Signals Luxury Sales Slowdown

Burberry issues a profit warning as it expects annual profits to be significantly lower than previously anticipated, citing a slowdown in luxury demand and consumers cutting back on expensive purchases like trenchcoats and scarves amid the cost of living crisis. The company's share price slumped 14% in early trading, and revenues fell 7% year on year. The luxury brand's premium priced products were deemed too expensive for household budgets, and the impact of the cost of living crisis on consumer spending is evident.

via The Guardian|
#burberry#business-fashion#consumer-spending