Shares of Foot Locker rose 7 percent on Tuesday as analysts at Citi and Evercore upgraded the stock following the retailer’s Investor Day on Monday. Citi’s Paul Lejuez said Foot Locker's moving in the right direction, turning attention away from malls and the Champs brand and instead focusing on offerings related to kids, loyalty and digital. (Read More)
Anta Sports Products Limited saw revenue increase 8.8 percent to RMB53.65 billion in 2022, compared to RMB49.33 billion in 2021. The Group's operational measures and "Dynamic Management" approach were said to have been effective as profit attributable to shareholders reached RMB7.59 billion, outperforming market expectations. (Read More)
Shares of On Holding rose 26 percent Tuesday after the Swiss running brand reported revenues jumped 92 percent in the fourth quarter with the help of market share gains in running and tennis and On's strengthening appeal with younger consumers. On officials also provided a bullish outlook for 2023. (Read More)
At its Investor Day on Monday, Mary Dillon, Foot Locker’s new CEO and president, outlined an ambitious “Lace Up” growth plan and said progress is being made in repairing the company’s relationship with Nike. However, shares of Foot Locker fell $2.43, or 5.8 percent, to $39.83 as earnings for the current year were guided sharply below analyst targets as the business undergoes a “reset.” (Read More)
As consumers return to fitness clubs, publicly-traded club operators Planet Fitness, Life Time Fitness and Xponential Fitness reported fourth-quarter results topping expectations and delivered upbeat forecasts for continued growth in 2023. The results were in sharp contrast to the in-home fitness equipment brands that saw revenues take a dive following pandemic-driven growth. (Read More)
