The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
BEAVERTON, United States — Nike Inc. on Thursday reported fiscal second-quarter net income of $655 million.
On a per-share basis, the Beaverton, Oregon-based company said it had net income of 74 cents.
The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The athletic apparel maker posted revenue of $7.38 billion in the period, also exceeding Street forecasts. Analysts expected $7.16 billion, according to Zacks.
Nike shares have risen 23 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 12 percent. In the final minutes of trading on Thursday, shares hit $97.08, a climb of 24 percent in the last 12 months.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.