Mon, Jan. 11, 10:09 AM
- Shoe stocks are under pressure after channel checks on pricing add a new layer of worry.
- Trading lower in morning action are Crocs (CROX -3.2%), Deckers Outdoor (DECK -2.1%), Wolverine Worldwide (WWW -2.4%), Steven Madden (SHOO -2.1%), Skechers (SKX -0.6%), Columbia Sportswear (COLM -2.8%), and VF Corp (VFC -2.6%).
- Under Armour just dipped below $70 after being as high as $105 in October.
- The panicky trading isn't encapsulating sector giant Nike (NKE +0.8%) or the Adidas (OTCQX:ADDYY +3.3%) ADRs.
- Previously: Under Armour slides as new footwear pricing concerns crop up (Jan. 11 2016)
Oct. 21, 2015, 8:06 PM
- Quashing expectations of a lucrative bidding war, the University of Texas reportedly has struck a new 15-year deal with Nike (NYSE:NKE) for equipment, licensing and apparel, in a pact that is still expected to be the richest in all of college athletics, according to sources.
- The contract is expected to approach $200M. The university can't confirm it until it's approved by its board of regents.
- Texas had been a Nike school since 2000, and with the previous deal's expiration, it was expected to pursue competing bids from Under Armour (UA -0.8%) and Adidas (OTCQX:ADDYY +1.6%). A change of athletic directors, to former Longhorn player Mike Perrin, may have altered that plan.
- Due to a clause in the previous contract, Nike had a right to match any competing offer, in any case.
- Previously: Bidding war expected for Longhorns apparel contract (Sep. 30 2015)
Sep. 25, 2015, 10:00 AM
- A number of shoe stocks are getting a free ride on Nike's back this morning.
- Adidas (OTCQX:ADDYY) +2.8%, Under Armour (NYSE:UA) +2.4%, Deckers Outdoor (NYSE:DECK) +1.6%, and Skechers (NYSE:SKX) +2.4% are notable gainers.
- An important read-through from the Nike report is that the sports industry in China may be in solid shape with the government providing some backing. Sports participation rates have been on the rise for the middle class in the region.
- Previously: Nike +9% after powerhouse performance in China (Sep. 25 2015)
Jun. 10, 2015, 4:49 PM
- The eight-year merchandising and marketing partnership will make Nike (NYSE:NKE) the official on-court apparel provider beginning with the 2017-18 NBA season.
- Alongside this deal is an expanded presence with the WNBA, and a new partnership with the NBA D-League.
- NKE +1%, UA -0.1% after hours. Adidas (OTCQX:ADDYY) no trades.
Jun. 18, 2014, 8:41 AM
- Shares of Lululemon (LULU) are higher in premarket trading off of a Bloomberg report indicating Adidas (ADDYY) or V.F. Corp (VFC) might be interested in buying the company out.
- A 34% YTD decline in Lulu's share price has brought questions on fair valuation back to the forefront.
- Though the forward P-E ratio on Lululemon hasn't been lower since 2009, missteps by management and new competition has taken some of the bloom off the rose.
- LULU +1.2% premarket
Feb. 17, 2012, 12:51 PM
The bad times get worse for K-Swiss (KSWS -9.7%), after the shoemaker's Q4 miss and soft 2012 revenue guidance ($240M-$250M vs. consensus of $269.8M) demonstrate the challenges it faces in competing with larger rivals Nike (NKE) and Adidas (ADDYY.PK). K-Swiss' Q4 gross margin was just 25.6%, down 680 bps Y/Y and well below Nike's FQ2 gross margin of 42.7%. (previously)| Feb. 17, 2012, 12:51 PM
Sep. 28, 2011, 10:50 AM
Shares of shoe companies look a little skittish after Reebok (ADDYY.PK) settles with the FTC for $25M over deceptive claims certain brands of its shoes led to muscle toning. Though the settlement amount is small to a multi-billion dollar industry, the sector could now face pressure to back up claims "toning" shoes aren't gimmicks. Decliners: SKX -2.2%, SHOO -2.4%, CROX -3.1%.| Sep. 28, 2011, 10:50 AM
Sep. 6, 2011, 10:41 AMHSBC downgrades Nike (NKE -3.2%) to Neutral from Overweight with a $96 PT. The firm notes potentially weak back-to-school consumer spending and a concern if Nike has lost its competitive position in Europe and Russia against rival Adidas (ADDYY.PK) leading up to the Euro soccer championship next summer. | Sep. 6, 2011, 10:41 AM