Vera Bradley shares jumped more than +11% on the news, during pre-market trading.
The maker of luggage, handbag and fashion accessories raked in earnings of 25 cents a share, beating analysts’ estimates of 26 cents.The figure was also substantially greater compared to the 35-45 cents per share annual guidance that the firm provided around this time last year, according to the company.
Net sales came in at $416.1 million, compared to $454.6 million in fiscal 2018.
Puma, the third largest athletic shoe company in the world, is set to take on arch rival Nike and launch its auto-lacing smart shoe called the Fit Intelligence (Fi) in Spring 2020.Priced at a competitive $330, Fi is cheaper than Nike’s Adapt BB—a comparable self-lacing smart basketball shoe--by nearly $20.
This new variety of sports shoes can be connected to an app, from which the laces can be adjusted with a swipe of a finger.
The European Commission said on Thursday that it had opened an in-depth investigation into the tax treatment of Nike Inc in the Netherlands, saying this may have given the U.S. sportswear maker an illegal and unfair advantage.Read More...
Crocs raised its fourth quarter as well as full-year guidance.
The casual footwear company's latest revenue estimate for the fourth-quarter is in the range of $211 million to $214 million, up from prior guidance of $195 million to $205 million.
For the full year, Crocs now expects revenue to grow about 6%, compared with prior guidance of 4% to 5%.
Andrew Rees, president and CEO, has indicated that e-commerce and wholesale growth would cushion the effect of reduced number of physical stores."We had one of our best fourth quarters in years," said Rees.
Shares of the world’s largest sportswear company, Nike Inc., soared nearly 8% on Friday after the company reported quarterly earnings and revenue that beat analysts' expectations.
The athletic apparel company reported an earnings of 52 cents per share compared to Wall Street’s expectation of 46 cents.In terms of revenue, the company reported a revenue of $9.37 billion against analyst expectations of $9.18 billion.
Despite concerns surrounding the impact of the controversial ad campaign and the ongoing U.S.-China trade war, the company reported strong numbers along with an upbeat outlook and an expectation of higher revenue growth than previously planned. China recorded Nike's most robust growth during the quarter, with sales climbing 26% to $1.54 billion.
According to the company, strong global sales and substantial improvement in the digital business is what helped it report such numbers.
Nike Inc., the American multinational footwear manufacturer, has opened a new cutting-edge 68,000 square foot flagship store in New York City.The new store is expected to change the way consumers shop for their favorite sneakers and apparel.
Named as the “House of Innovation 000”, this six-level store would give its customers an enthralling shopping experience by combining traditional shopping with a futuristic shopping experience through the app.
Heidi O’Neill, president of Nike Direct, said that the store would offer an experience which would be personal and responsive, but at the same time would be as easy and fast as a mobile shopping experience.
Revolving around the innovation theme, the store would offer the following innovative and unique solutions to its customers.
First, using Nike’s app, shoppers can scan QR codes on mannequins and apparel to see whether size and color of their choice is available, then send the items to a fitting room or pick up spot -- freeing custome
Its stock is down 29%, and the tariffs imposed by President Trump have reportedly cost the company $1 billion, as the company is in the midst of a reorganization.Now, the company is announcing layoffs.
Article found on Yahoo Finance