Thu, Sep. 22, 2:00 PM
- Nike (NYSE:NKE) plans to debut its HyperAdapt 1.0 self-lacing shoe on November 28 at some retail stores in the U.S., according to Nike PR Director Heidi Burgett.
- It's a bit of counter-programming from the company as November 28 is Cyber Monday, known as the biggest online shopping day of the year.
- Pricing on the HyperAdapt hasn't been disclosed yet.
- Early reviews on the Marty McFly-inspired shoe have been largely positive.
Mon, Sep. 19, 12:32 PM
- Under Armour (UA +0.4%), Callaway Golf (ELY +1.1%), and Nike (NKE +0.1%) are suffering some short-term pain due to the bankruptcy of Golfsmith, according to Retail Dive.
- The store closings will impact golf apparel, equipment, and footwear sales this quarter, and there's also the matter of outstanding amounts owed to the trio.
- Naturally, the Golfsmith development is more significant for Callaway Golf than UA or Nike, although all three companies have been resetting golf strategy this year amid worrisome demand in the category.
- Previously: Golfsmith files bankruptcy (Sept. 14)
Tue, Aug. 30, 8:31 AM
Fri, Aug. 26, 8:52 AM
Fri, Aug. 19, 11:14 AM
- Foot Locker (FL +10%) rips higher after posting strong sales growth. The company cited strength in basketball, running, and classic footwear during the quarter.
- Under Armour (NYSE:UA) is up 1.6% and Nike (NYSE:NKE) is 2.7% higher off the strong read on athletic shoe sales.
- Other notable gainers include Skechers (SKX +1%), Wolverine World Wide (WWW +3.4%), Rocky Brands (RCKY +1.5%), Steven Madden (SHOO +1.4%), Caleres (CAL +1%), and Crocs (CROX +1%) -- all ahead of broad market averages.
- An underlying theme continuing to emerge in the shoe sector is that discretionary spending by millennials on the category is stronger than what is being seen in other areas of retail. Also of note, the millennial group has shown loyalty to power brands.
- Previously: Foot Locker beats by $0.04, beats on revenue (Aug. 19)
- Previously: Foot Locker higher on earnings beat and positive comp (Aug. 19)
Fri, Aug. 19, 8:06 AM
- Nike (NYSE:NKE) and Apollo Global Management (NYSE:APO) struck a supply chain partnership aimed at speeding up delivery and boosting regional manufacturing capabilities.
- The new company created through the partnership has already acquired two smaller suppliers in the Americas and will look for more synergistic deals.
- Terms of the arrangement weren't disclosed.
Thu, Aug. 11, 5:17 PM
Mon, Aug. 8, 10:13 AM| Mon, Aug. 8, 10:13 AM | 3 Comments
Thu, Aug. 4, 2:06 AM
- While it will continue to sell golf apparel and footwear, Nike (NYSE:NKE) is getting out of the business of selling golf clubs, balls and bags, striking another blow to a pastime hurt by slowing participation rates in recent years.
- Sales at the Nike Golf division fell 8.2% to $706M in the fiscal year that ended in May, making it the company’s worst performing major category.
Mon, Aug. 1, 5:37 PM
Tue, Jul. 26, 2:26 AM
- Nike (NYSE:NKE) CEO Mark Parker's total compensation nearly tripled to $47.6M for fiscal 2016 - compared with a year earlier - thanks to a big increase in stock awards tied to him taking over the chairman role from Phil Knight.
- Since becoming CEO in 2006, Parker has steered Nike to more than $32B in sales, more than double the level when he took over.
Fri, Jul. 22, 10:13 AM
- A weak earnings report from Skechers (SKX -22%) and a warning from VF Corp (VFC -2.8%) is taking down a number of peers of the apparel sellers.
- Soft demand in Asia, disruption in Europe, and continued F/X headwinds were cited by both companies.
- Oxford Industries (OXM -2.1%), Wolverine World Wide (WWW -2.6%), Crocs (CROX -2.9%), Steven Madden (SHOO -1.8%), and G-III Apparel Group (GIII -2.3%) are all lower.
- The negative start to the earnings season for the apparel/footwear sector appears to be impacting Nike (NKE -0.8%) and Under Armour (UA -0.9%) as well.
- Previously: Skechers -8% after missing Q2 expectations (July 21)
- Previously: V.F. beats by $0.01, misses on revenue (July 22)
Fri, Jul. 8, 1:39 PM
- Under Armour (UA -0.9%) signed a deal with Aston Villa of the English Premier League. The uniform contract runs through the 2021 season.
- Nike (NKE +1.1%) renewed a deal with the La Liga Spanish Football League out to 2019. The highly-respected league, which features Lionel Messi and Christiano Ronaldo, will use Nike's Ordem 4 soccer ball.
- The company also scored a minor victory over Adidas (OTCQX:ADDYY) after the German company was shut out for the first time in over 30 years from being sponsor in the European Championship final. Both France and Portugal will wear the swoosh on Sunday in Saint-Denis.
- Both Adidas and Nike expect soccer-related sales of over $2B this year.
Thu, Jun. 30, 4:42 PM| Thu, Jun. 30, 4:42 PM | 10 Comments
Wed, Jun. 29, 9:02 AM
- Down sharply overnight after Q4 revenues came in light, Nike (NYSE:NKE) is now higher by 1% in premarket action. Helping is a strong defense from the sell-side.
- Acknowledging near-term headwinds, Jefferies says the stock still deserves to trade at a premium multiple. He reiterates his Buy rating, though cutting the PT to $65 from $67 (yesterday's close $53.09).
- UBS remains bullish, BB&T reiterates its Buy rating, and Piper Jaffray its Overweight rating.
Wed, Jun. 29, 7:24 AM