Tag: Apparel and Textile Products

Lululemon Athletica’s (LULU) founder Chip Wilson has launched a proxy fight for a board shakeup, days after the apparel maker announced the exit of CEO Calvin McDonald, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Nike shares ticked up 2% in premarket trading on Wednesday after Apple CEO Tim Cook bought nearly $3 million worth of the sportswear maker’s stock.

Nike has reported weakening sales in China in quarterly results that unnerved investors as the company attempts to pull out of a slump.

Activist investor Elliott Management has amassed a stake of more than $1 billion in Lululemon Athletica (LULU) and is lining up a potential CEO candidate as it pushes to revive the struggling athletic apparel retailer, a source told Reuters on Wednesday.

Kering (PRTP), the owner of luxury brand Gucci, said on Tuesday it had agreed to sell a 60% stake in a prime New York property to private equity firm Ardian, raising $690 million in cash.

Lululemon shares jumped more than 9% in pre-market trade on Friday, after the company announced its CEO Calvin McDonald will step down.

 Facebook-owner Meta (META.O), holds at least a 3% stake in EssilorLuxottica (ESLX.PA), a board director at the European firm behind Ray-Ban glasses said on Tuesday.

Victoria’s Secret Co  reported fourth quarter EPS of $-0.27, $0.32 better than the analyst estimate of $-0.59. Revenue for the quarter came in at $1.47B versus the consensus estimate of $1.41B.

Zara owner Inditex beat analysts’ expectations for the start of its fourth quarter on Wednesday, reporting currency-adjusted sales growth of 10.6% in November, a period that includes the crucial Black Friday weekend.

American Eagle Outfitters’ high-profile marketing campaigns featuring celebrities like Sydney Sweeney and Travis Kelce helped improve the retailer’s sales and boost shares by more than 20% this year.

 Hugo Boss shares dropped 11% on Wednesday after it warned that its sales and profit would fall next year, as the struggling German fashion brand embarks on a strategic reset.

Puma shares jumped as much as 16% early Thursday following a report that China’s Anta Sports is among a number of firms looking to buy the struggling German athletic brand.

Gap stock jumped ahead of the open Friday following a stronger-than-expected earnings report for the apparel retailer’s fiscal third quarter.

TJX Cos raised annual profit forecast on Wednesday, anticipating that broad sourcing strategy and seasonal inventory will attract bargain-hunting shoppers to its off-price stores.

Cartier-owner Richemont reported quarterly sales well ahead of market expectations on Friday, driven by improved demand in China and a robust North American market which helped it weather the hit from U.S. tariffs and high gold prices.

On raised its full-year guidance for the third quarter in a row on Wednesday after the Swiss sportswear company posted another three months of double-digit growth, bucking a slowdown in the sneaker market.

 Levi’s (LEVI.N), will sell its new line of $300 jeans in more stores next year as it looks to boost growth by tapping into strong demand for premium denim, Chief Financial and Growth Officer Harmit Singh told Reuters.

Vans parent VF Corp (VFC.N), posted better-than-expected results for the second quarter on Tuesday, helped by strong demand for its footwear, bags and lifestyle apparel, even as economic uncertainty looms.

Lululemon Athletica Inc. (NASDAQ:LULU) stock rose 2.5% following a Bloomberg report that the athletic apparel retailer has partnered with the National Football League and Fanatics Inc. to create NFL team-branded merchandise.

Soft sales of Ugg Boots direct to the consumer could weigh on Deckers Outdoor DECK shares, warned Jefferies analyst Ashley Helgans in a note late Thursday.