Nivea Maker Beiersdorf Cuts Guidance for 2026, Citing Market Conditions
Beiersdorf trimmed its full-year guidance on Monday on slower-than-expected recovery at its core brand Nivea and other economic headwinds.
footwear
Global Markets
Russian Retailer OR Group Defaults on $7 Million Bond Repayment
The shoe retailer and e-commerce marketplace owner has defaulted on bonds valued at 592 million roubles ($7.7 million).
Russian Retailer OR Group Defaults on $7 Million Bond Repayment
The shoe retailer and e-commerce marketplace owner has defaulted on bonds valued at 592 million roubles ($7.7 million).
Technology
Nike Sues StockX for Selling Sneaker NFTs
Sneaker giant Nike sued online reseller StockX in New York federal court on Thursday for selling unauthorised images of Nike shoes, marking the latest lawsuit over digital assets known as non-fungible tokens.
Nike Sues StockX for Selling Sneaker NFTs
Sneaker giant Nike sued online reseller StockX in New York federal court on Thursday for selling unauthorised images of Nike shoes, marking the latest lawsuit over digital assets known as non-fungible tokens.
Retail
Asics Defies Nike’s China Underperformance in Return to Profit
Asics shares still remain down more than 3 percent in 2022, though Chinese brands that surged last year as they benefited from the travails of foreign rivals have also had muted starts to this year.
Asics Defies Nike’s China Underperformance in Return to Profit
Asics shares still remain down more than 3 percent in 2022, though Chinese brands that surged last year as they benefited from the travails of foreign rivals have also had muted starts to this year.
Global Markets
Brazilian Footwear Giant Arezzo Looks to Raise $153 Million in Follow-On Offering
The shoemaker announced on Thursday a follow-on share offering of 7.5 million shares as it aims to raise money for long-term investments, including new stores and potential mergers and acquisitions.
Brazilian Footwear Giant Arezzo Looks to Raise $153 Million in Follow-On Offering
The shoemaker announced on Thursday a follow-on share offering of 7.5 million shares as it aims to raise money for long-term investments, including new stores and potential mergers and acquisitions.
Retail
Pace of Sales Growth Slows at Dr. Martens, Sinking Shares 13%
Dr. Martens said revenue growth slowed in its third quarter, hammering its share price, after a drop in its wholesale business as it prioritised scarce inventory for online and retail stores channels.
Pace of Sales Growth Slows at Dr. Martens, Sinking Shares 13%
Dr. Martens said revenue growth slowed in its third quarter, hammering its share price, after a drop in its wholesale business as it prioritised scarce inventory for online and retail stores channels.
Luxury
Tod’s Sales Jump 40% in 2021, Beating Expectations
Sales at Italian fashion group Tod’s in 2021 rose by almost 40 percent, the first increase after five years of consecutive declines, beating market expectations.
Tod’s Sales Jump 40% in 2021, Beating Expectations
Sales at Italian fashion group Tod’s in 2021 rose by almost 40 percent, the first increase after five years of consecutive declines, beating market expectations.
Retail
Puma Sales Reach Record as Shoe Demand Overcomes Covid Snags
Puma said sales reached a record €6.8 billion ($7.7 billion) in 2021, up 32 percent on a constant-currency basis.
Puma Sales Reach Record as Shoe Demand Overcomes Covid Snags
Puma said sales reached a record €6.8 billion ($7.7 billion) in 2021, up 32 percent on a constant-currency basis.
Retail
Sneaker Market StockX Taps Morgan Stanley, Goldman for IPO
StockX, an online exchange for sneakers and streetwear brands, is working with Morgan Stanley and Goldman Sachs Group Inc. on its planned US initial public offering, according to people with knowledge of the matter.
Sneaker Market StockX Taps Morgan Stanley, Goldman for IPO
StockX, an online exchange for sneakers and streetwear brands, is working with Morgan Stanley and Goldman Sachs Group Inc. on its planned US initial public offering, according to people with knowledge of the matter.
Technology
Op-Ed | Notes From an NFT Sceptic
Nike, Adidas and other big brands have plunged headlong into the latest crypto craze. But companies and their customers may soon discover converting virtual fashion into real-world profits isn’t so easy. Caveat emptor, says The NPD Group’s Matt Powell.
Op-Ed | Notes From an NFT Sceptic
Nike, Adidas and other big brands have plunged headlong into the latest crypto craze. But companies and their customers may soon discover converting virtual fashion into real-world profits isn’t so easy. Caveat emptor, says The NPD Group’s Matt Powell.
Retail
Crocs to Buy Footwear Brand HeyDude for $2.5 Billion
The deal, which is expected to close in the first quarter of 2022, would immediately add to Crocs’ revenue growth, margins and earnings, it said.
Crocs to Buy Footwear Brand HeyDude for $2.5 Billion
The deal, which is expected to close in the first quarter of 2022, would immediately add to Crocs’ revenue growth, margins and earnings, it said.
Retail
Alpargatas Buys 49.9% Stake in Rothy’s
Rothy’s, which will have a valuation of $1 billion with the transaction, will continue to operate independently, the companies said.
Alpargatas Buys 49.9% Stake in Rothy’s
Rothy’s, which will have a valuation of $1 billion with the transaction, will continue to operate independently, the companies said.
Retail
Nike Hedges Its Bets
This week, everyone will be talking about Nike’s plans to sell both virtual and physical sneakers, plus the tail end of the all-important holiday shopping season.
Nike Hedges Its Bets
This week, everyone will be talking about Nike’s plans to sell both virtual and physical sneakers, plus the tail end of the all-important holiday shopping season.
The News in Brief
Soshe Launches at Ulta Beauty
The refillable clean makeup brand will enter the complexion category as it makes its debut across over 700 Ulta Beauty doors.
Shein Said to Weigh Cost Reset for Late Backers Before IPO
The retailer is considering lowering the investment cost for late backers who came in at a valuation of up to $64 billion as it prepares to list at a much lower value, people familiar with the matter said.
GLP-1 and Cosmeceutical Skincare Usage Spike Bathroom Mini Fridge Demand
As shoppers incorporate weight-loss drugs and more sophisticated skincare into their daily routines, a cottage industry is growing.
The Met’s Next Fashion Blockbuster Will Spotlight Galliano
The fashion icon, as famous for his singular talent as a scandal that cost him one of the industry’s top jobs, will become one of only three living designers to get a major solo exhibition at the museum.
Abbvie Earnings Beat Estimates as Botox Shows Signs of Revival
Abbvie reported second quarter profit and sales that topped expectations, driven by strong demand across its immunology and neuroscience franchises and further signs of a recovery in Botox.
Puma Results Show Progress on Turnaround
The German sports brand posted a narrower loss in the second quarter as it pushed ahead with an effort to restore growth next year.
DSM-Firmenich’s Fragrance-Led Core Profit Beat Sends Shares Higher
DSM-Firmenich beat market expectations for second-quarter core earnings, said full-year sales growth should reach the upper end of its target range on the back of broad-based volume growth.