Shein Outsells British Rival Asos as UK Revenue Hits $3.41 Billion
The ultra-fast fashion company said sales had been bolstered by marketing partnerships with music festivals, a pop-up shop on London’s Oxford Street and local Christmas gift events.
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News & Analysis
Phil Knight Donates $1 Billion of Nike Shares to Charity
The sportswear brand's founder and chairman emeritus gave 12 million shares to an unnamed organisation.
News & Analysis
Nike's Flash Sales Are a Sign of Its Troubles
The markdowns come amid slowing demand as the apparel industry’s slump deepens and teens opt for rivals Adidas and Vans.
Financial Markets
Nike’s Third-Quarter Sales Miss Estimates, Hurt by Strong US Dollar
Nike Inc. posted disappointing third-quarter sales and signalled that orders in North America and some overseas markets are increasing more slowly than projected.
News & Analysis
Nike’s Philip Knight Gives $400 Million to Stanford University
Nike Inc. co-founder Philip Knight donated $400 million to Stanford University to start a graduate scholars program that will address “global challenges” facing society.
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News & Analysis
Nike Authorises $12 Billion Shares Buyback, Plan to Split Stock
Nike Inc., the world’s largest sporting-goods company, approved a new $12 billion stock buyback plan and said it would split its shares 2-for-1.
News & Analysis
California Runner Sues Nike after Breaking Leg on 'Dream Run'
Kate Freeman of Los Angeles filed a lawsuit on Friday in Multnomah County Circuit Court seeking $1.3 million from the Beaverton, Oregon-based company.
Marketing
Nike Wants to Win Winter With a $185 Hoodie
The sportswear giant has been working hard on winter-wear and spent three years developing its new breathable running shirt.
Retail
Nike Backs Obama on Trade with Pledge to Create 10,000 US Jobs
Nike Inc put its weight behind President Barack Obama's push for a trade deal with Asian countries on Friday with a promise to create up to 10,000 US-based manufacturing jobs if the pact is approved.
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News & Analysis
Nike Plans US Manufacturing Jobs If Trade Measures Approved
Nike Inc. and its partners will create as many as 10,000 US manufacturing and engineering jobs over the next decade if Congress approves fast-track trade legislation and a Trans-Pacific Partnership trade agreement is finalised.
Global Markets
Nike Earnings Beat Estimates as North American Sales Advance
Nike Inc., the world’s largest sporting- goods maker, posted third-quarter profit that topped analysts’ estimates, helped by demand in North America.
Financial Markets
Nike Beats 2Q Forecasts
Nike Inc. on Thursday reported fiscal second-quarter net income of $655 million. The results topped Wall Street expectations.
News & Analysis
World Cup Boosts Nike Sales
Nike Inc., the world’s largest sporting-goods maker, posted first-quarter profit that topped analysts’ estimates after the FIFA World Cup soccer tournament boosted sales.
The News in Brief
Nike, Patagonia and Lululemon Join Group Battling Microfibre Pollution
Global environmental non-profit The Nature Conservancy has launched a new industry coalition to help apparel companies tackle microfibre pollution across their supply chains.
Meta Bans Ads From TikTok on Its Apps
The policy bars ads from ByteDance, which remains in charge of key parts of TikTok, and extends to third-party advertisers running campaigns that link to TikTok.
Gap to Use Athleta Leader’s Exit to Rebuild Slumping Brand
The departure of Athleta’s CEO for Lululemon is a chance to ‘reimagine the brand’s path forward,’ Gap Inc. CEO Richard Dickson wrote in an internal memo viewed by Bloomberg.
Harvey Nichols’ Birmingham Store Will Close in January
The department store’s Leeds and Bristol outlets will be converted to the Flannels brand in a shake-up under Mike Ashley’s Frasers Group, which purchased the chain when it was put into administration in mid-August.
Zankov Appoints Its First CEO
Jack Tobin is joining Diane von Furstenberg artistic director Henry Zankov’s namesake label as CEO and part owner.
LVMH, Kering Update Model Safety Guidelines
Nearly a decade since the luxury groups first published a charter of model protections, they are introducing new measures to protect those working in the industry.
Lululemon Hires Athleta Head in Management Shakeup
Maggie Gauger is joining Lululemon as chief product officer as new CEO Heidi O’Neill looks to revive sales.