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 edged past analysts' estimates for first-quarter revenue on Tuesday as new launches of footwear and apparel fuelled sales in North America.
The company, which came out with a controversial ad campaign featuring former NFL player Colin Kaepernick earlier this month, was trading down nearly 2 percent at $83.30 after the bell.
Quarterly sales rose 6 percent in North America, its second straight rise, showing signs of recovery after competition from rivals Adidas AG and Under Armour eroded sales in three out of the last four quarters.
Revenue rose 9.7 percent to $9.95 billion, beating estimates of $9.94 billion, according to Thomson Reuters I/B/E/S.
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The company's net income rose to $1.09 billion, or 67 cents per share, in the first quarter ended Aug. 31, from $950 million, or 57 cents per share, a year earlier.
By Nivedita Balu; editor: Shounak Dasgupta.
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.