August 23, 2023 Foot Locker Cuts Guidance Again after Weak Q2
The bottom line showed $5 million in red ink for the second quarter compared to income of $94 million last year as revenues were cut 10% to $1,864 million from $2,068 million prior, hit by continued macro pressure on lower income consumers, a soft start to Back to School, and the Nike reset. Peloton Interactive Takes Steps to Accelerate Brand Reach; Q4 Loss Shrinks
Roadblocks, namely costs associated with a bike seat recall and a separate legal settlement, detracted from Peloton Interactive’s financial recovery in its fiscal Q4 under CEO Barry McCarthy. Xtep Sees Momentum Continue in First Half
Net income at the Chinese sportswear brand rose 14% to RMB 671.2 million ($95.7 mm) from RMB 589.1 million on revenue that was up 15% to RMB 6,522.4 million ($929.8 mm) from RMB 5,683.6 million. Kohl’s Gets Sneaker Boost in Q2
Nike and Under Armour got a call out for leading a footwear sales trend improvement in a second quarter that saw comps down 5% for the mass merchant. New Balance Sues over Knockoffs
New Balance filed suit in MA district court against Golden Goose USA, Inc., for copying NB’s 990 trade dress with its Dad-Star line of sneakers. |