Apparel Retail
Retailers’ biggest holiday wish is to get rid of all that excess inventory
A clearance sale sign is seen at the Gap retail store on September 20, 2022 in Los Angeles, California. Allison Dinner | Getty Images As some of the nation’s largest retailers report quarterly earnings and revenue this week, Wall Street will pay close attention to another number, too — inventory levels. Walmart, Target, Gap, Kohl’s […]
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Adidas warns of huge earnings hit right after ending Ye partnership
Kanye West at an event saying a partnership with Adidas on June 28, 2016 in Hollywood, California. Getty Illustrations or photos Adidas on Wednesday slash its entire-12 months advice on the back of the German sportswear giant’s termination of its partnership with Kanye West’s Yeezy manufacturer. The enterprise finished its marriage with Ye, formerly recognized […]
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Puma names new CEO with immediate influence as Bjorn Gulden heads to Adidas
Pedestrians wander by a substantial Adidas emblem within the German multinational sportswear store. Miguel Candela | SOPA Photographs | LightRocket by using Getty Illustrations or photos Puma introduced forward the commence day of its upcoming chief government on Tuesday, naming Arne Freundt with rapid effect as rival Adidas verified that Bjorn Gulden would be its […]
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Not a good buy: Rent the Runway, exactly one-year after IPO, is down nearly 90%
While Rent The Runway closed its retail stores due to the pandemic, it still has a network of drop-off locations in major cities, including New York. Shannon Stapleton | Reuters In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. More than 50% of clothing […]
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Anti-Defamation League urges Adidas to sever ties with Ye’s Yeezy
Kanye West arrives at the Vanity Fair Oscar Party on Feb. 9, 2020, in Beverly Hills, Calif. Evan Agostini | Invision | AP The Anti-Defamation League is urging Adidas to sever ties with Ye, calling out his recent hateful comments in a letter to Adidas CEO Kasper Rorsted and Chair Thomas Rabe. The rapper and […]
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Adidas says its relationship with Kanye West is under review
Kanye West at an event announcing a partnership with Adidas on June 28, 2016 in Hollywood, California. Getty Images Sneaker and apparel maker Adidas said Thursday it is reviewing its relationship with the outspoken Kanye West. “After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review. […]
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Argus downgrades Nike to hold, says overstocked inventory will continue to weigh on retailer
Expect more near-term challenges for Nike after it reported overstocked inventory levels, according to Argus. Analyst John Staszak downgraded shares of Nike to hold from buy, and lowered estimates, citing the sports apparel giant’s most recent quarterly earnings results. Shares dropped more than 10% Friday after Nike reported inventory rose by 44% to $9.7 billion […]
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Nike’s results offer a clue about the strong dollar and the upcoming earnings season
How has the strong dollar impacted big multinational companies this quarter? Nike ‘s results after the bell on Thursday may offer a good preview of what’s to come as earnings season kicks into a high gear in mid-October. The sneaker and apparel giant saw a currency headwind of about 6 percentage points in its fiscal […]
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Nike sales rise, but supply chain issues and inventories weigh on earnings
A woman shops for shoes in the Nike Factory Store at the Outlet Shoppes at El Paso, in El Paso, Texas on November 26, 2021. Paul Ratje | AFP | Getty Images Nike on Thursday said it had a strong first fiscal quarter despite supply chain issues, as well as declining sales in Greater China, […]
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Retailers have a serious inventory problem. Here are the stocks most at risk, according to UBS
UBS said the inventory problem at retailers is worse than investors are expecting and identified some stocks that will be hardest hit. “[We] analyzed industry inventory levels now that Softlines earnings season is essentially over,” analyst Jay Sole wrote in a note Wednesday, referring to retailers that specialize in soft goods, such as clothing, footwear […]
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