Wall Street Reacts: Nike Q219
With better-than-anticipated revenue and gross margins driven by a healthy innovation cycle, an acceleration of growth in North America and continued digital momentum, Nike reported second-quarter earnings and revenues that handily topped Wall Street targets and wowed many analysts. Here’s what some had to say.
Mastercard: Online Shopping Shines Bright This Holiday Season
Consumers are on track to spend more online than ever before this holiday season, according to Mastercard SpendingPulse. U.S. e-commerce sales trotted off to a strong start just before Thanksgiving, and grew 18.3 percent year-over-year in the period from November 1 through December 19.
States Scramble To Keep National Parks Open
A number of parks are digging into their own treasuries to keep their federal properties, including national parks, open and maintained during the partial government shutdown, according to reports. The shutdown, which began on Saturday, affected national parks unevenly, some still accessible with bare-bones staffing levels, some operating with money from states or charitable groups and others locked off.
Cycling App Zwift Raises $120 Million In Funding
Zwift, a multiplayer online training and racing platform for cyclists and runners, announced $120 million in funding, reflecting its commitment both to growing its new running discipline and also to expanding into esports.
Boot Barn Acquires Naming Rights To Colorado Springs Music Venue
Boot Barn has acquired the naming rights to the Bourbon Brothers Presents, LLC, Colorado Springs’ mid-size live music venue and event center.
Nike North America Bounces Back To Near Double Digit Growth In Q2
Led by a continued resurgence in North America, accelerated growth in China and continued gangbuster digital growth, Nike reported Q2 earnings and sales easily topped Wall Street’s targets and lifted its guidance for the year. Said Andy Campion, CFO, “As we’re beginning to gain greater insight into fiscal year ’20, we’re seeing continued strong demand.”
Nike CEO Mark Parker: Company Focused On Digital Growth, Women’s Market
After Nike Inc. blew past earnings and revenue estimates in the second quarter, CEO Mark Parker had plenty to discuss on Thursday afternoon’s earnings conference call with analysts. Two distinct themes about Nike’s future path emerged in Parker’s comments: continued digital growth and a heightened focus on women’s footwear and apparel business.
Aisle Talk Week Of December 17
Top headlines from the active lifestyle industry you may have missed this week, including Thule Group’s announcement of the acquisition of rooftop tent maker Tepui Outdoors Inc. for $9.5 million.
Adidas Sets 2019 Rivals Camp Series
Rivals, Next College Student Athlete (NCSA), and Adidas announced the third-annual Rivals Camp Series, featuring the Rivals adizero Combines. All combines are free and open to current high school football players.
Nike Inc. Names G. Scott Uzzell President And CEO of Converse
Nike Inc. announced that effective January 22, 2019, G. Scott Uzzell will become president and CEO of Converse, Inc. Uzzell comes to Converse from The Coca-Cola Company where he most recently served as president, Venturing & Emerging Brands Group (VEB).
Moody’s Affirms Under Armour’s Debt Rating, Outlook Remains Negative
Moody’s Investors Service affirmed Under Armour, Inc.’s Baa3 senior unsecured rating. The rating outlook remains negative. Stated Moody’s apparel analyst, Mike Zuccaro,”The affirmation reflects our expectation for sequential improvement in operating performance and credit metrics over the next 12-18 months as the company advances through the last year of its multi-year transformation plan.”
Holiday Reports Point To Merry Retail Haul
With a few days to go, reports continue to arrive indicating the retail industry is heading for record holiday sales. Here, the latest holiday insights around online selling, last-minute procrastinators, returns, BOPIS demand, millennial gifting and more.
Nike Smashes Expectations In Q2
Nike Inc. reported earnings rose 10.4 percent in the second quarter ended November 30 on a 9.6 percent revenue gain. Earnings and revenues both topped Wall Street’s targets as margins improved and strong sales were seen in North America and China.
Mizuno Launches Geofencing for Mobile App Push Notifications
Mizuno USA has launched an updated mobile app with a new design and new features, including geofencing technology to optimize their push notification campaigns.
Demo Day To Be Held At Inaugural Racquet & Paddle Sports Conference
Racquet sports professionals can attend, free of charge, the Demo Day and Industry Welcome Party at the USTA National Campus on Wednesday, January 23, 2019. The Demo Day and Industry Welcome Party are part of the inaugural three-day Racquet & Paddle Sports Conference, January 23-25, in Orlando, FL. Complimentary industry registration is required to attend […]
