Tag: Apparel and Textile Products

Adidas plans to cut as many as 500 jobs in a bid to simplify its business, a person familiar with the matter confirmed to CNBC on Thursday.

Puma lost a fifth of its market value on Thursday after the German sportswear brand reported lower than expected fourth-quarter sales and a drop in annual profit, raising questions about its ability to compete with bigger rivals Adidas and Nike.

Adidas reported what it said were better than expected preliminary fourth-quarter results on Tuesday, with strong sales and profitability for the important holiday shopping period, sealing a successful turnaround year.

German shoemaker Birkenstock said on Tuesday Chief Financial Officer Erik Massmann will step down after nearly two years in the role, and will be succeeded by Ivica Krolo.

British sportswear retailer JD Sports Fashion downgraded its profit forecast after weaker trading in Britain and the United States and promotional activity at competitors hurt sales, and it warned the outlook was “cautious”.

Brunello Cucinelli said it expects to grow strongly in the coming years after it reported better-than-expected revenue for the fourth quarter despite a slowdown in demand for luxury goods that is hurting most of its rivals.

Lululemon Athletica and Abercrombie & Fitch raised their current-quarter sales targets on Monday, helped by demand for heavily discounted apparel during the holiday season, even as steep promotions took a bite out of some retailers’ margins.

The German company’s stock, listed on the New York Stock Exchange last year, has struggled to conserve its gains this year

Zara owner Inditex posted a rare miss on quarterly sales and profit on Wednesday, although the world’s biggest listed fast-fashion retailer said the holiday shopping season had got off to a good start.

Shares of Foot Locker were trading sharply lower Wednesday after the shoe retailer posted a weak quarter and slashed its financial outlook.

Lululemon facing its slowest quarterly growth in more than four years, will have to deal with Wall Street questions on whether it has made significant strides toward fast-tracking trendier styles to its stores to better compete with athleisure upstarts.

Foot Locker Inc. is planning to expand its Home Court basketball serious developed with Nike Inc. in stores worldwide, part of an effort for the longtime partners to mend their frayed relationship. 

Even as its namesake stores struggle while inflation and a range of other anxieties endure, Urban Outfitters Inc. on Tuesday said its shoppers hung in there during the third quarter, giving them more confidence about the key holiday-shopping period.

Gap shares soared 15% premarket on Friday, as a return to growth at all four of its brands after nearly two years encouraged the apparel retailer to lift its annual sales forecast in a robust start to the holiday shopping season.

JD Sports Fashion Plc has revised its profit guidance for the full year, warning investors to expect earnings at the lower end of its previously forecast range of £955 million to £1,035 million, sending its shares tumbling by over 13%.

Stock rises nearly 15% as luxury brand sets out plan to refocus on core products such as trench coats and scarves

Capri and Tapestry called off their merger on Thursday after the Federal Trade Commission successfully sued to block the megadeal.

Capri stock was down in after-hours trading Thursday. Capri Holdings  stock just can’t get a break. Shares took a tumble Thursday after the company posted a softer-than-feared second quarter.

Steve Madden, a $3 billion shoe company, announced Thursday that it would rapidly halve its Chinese production to avoid Trump’s tariffs. Those plans have been in place for a long time, in anticipation of a Trump victory, according to Steve Madden’s CEO Edward Rosenfeld.

Sportswear maker Under Armour raised its annual profit forecast on Thursday, betting on lower input costs and cost-saving strategies such as offering lower discounts at its own stores and website.