Nike shares tumbled 8% on Friday after the Air Jordan maker warned of lower sales in its first half as it replaces older styles with trendier sneakers, while Lululemon Athletica sank 17% as demand waned for its premium athleisure. While Lululemon's gloomy forecast spotlights the challenges for retailers as customers reduce discretionary spending due to sticky inflation, Nike's projection signals its efforts to battle newer brands for market share.
Lululemon Sinks After US Consumer Retreat Spurs Weak Outlook
Nike, Lululemon Sink as Annual Forecasts Disappoint
Luxury Slowdown Prompts Fears of Inventory Pile-up over Key Holiday Season
Nike, Lululemon sink as annual forecasts disappoint
Nike Expected to Return to Profit as Online Sales, Demand from China Pick up
British Airways-owner IAG scales back summer ramp-up to avoid disruptions
Menswear Regains its Muscle at Paris Fashion Week
Maersk introduces surcharge on Israel shipments to cover insurance
Hermes Hosts Fashion Show at Paris Airport Hangar
Oil settles higher amid low crude stocks, cautious economic outlook
Reliance Buys 52% of Top Indian Fashion Label in Luxury Bet
E.ON reports higher profit and lifts forecasts as energy markets stabilise
Reddit jumps 70% in highly anticipated public-trading debut
Oil supply disruptions boost prices