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☆ This emerging Nike competitor is set to break out ahead of earnings, according to the charts
▼ + stars: | 2024-05-07 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

Has the time arrived for the stock to break free from a range heading into earnings next week? There has been much hype around this emerging Swiss company that grew revenues by 68% in 2022, 46% in 2023, and are expected to grow revenues by more than 25% in 2024 and 2025. Technically speaking ,that range of overhead resistance for On Holding (ONON) is easy to see on the weekly chart below. There was weekly downtrend line resistance originating from the 2022 high that was broken in Q1 '24. On earnings ahead Heading into earnings, I think it's wise to refer back to Q4 of 2023 earnings announced on March 12.

Persons: Shoemaker, I've, CROX, Todd Gordon, Gordon, ONON Organizations: Nike, Air, swiss, Inside Edge, Edge Capita Locations: Swiss, U.S, SKX

☆ What this NFL Draft pick plans to do with his new money—from mutual funds and a Roth IRA to Air Jordan 1 sneakers
▼ + stars: | 2024-04-27 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Fiske, 24, was drafted by the Los Angeles Rams in the second round of the 2024 NFL Draft on Friday evening. "I had never been around that much money," Fiske told MarketWatch last month. Together, they've discussed "how my financial life is going to change" upon signing an NFL contract, Fiske noted. "I'm putting money into mutual funds, index funds, high-yield savings accounts and maybe exploring new investment opportunities, too," he said, adding: "I also have a Roth IRA ... But that doesn't mean he won't splurge on a fun purchase: He's an avowed fan of Nike's Air Jordan 1 sneakers, for example.

Persons: Braden Fiske, —, Fiske, you've, they've, Roth, he's Organizations: Los Angeles Rams, Florida State University, FSU, NFL, Roth IRA, Air, Honda Accord, CNBC

☆ NFL draft prospect who could get a $2.7 million signing bonus still drives his old Honda Accord: 'It gets me from A to B'
▼ + stars: | 2024-04-25 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

That would mean a likely contract of around $8 million over four years, including a $2.7 million signing bonus, according to MarketWatch . The idea of young athletes reaping instant riches has long been an annual subplot of the NFL draft. The money I received gave me a peace of mind I did not have previously," Fiske told Business Insider. Though he made some savvy choices, Fiske admitted he made "a few mistakes" early on after receiving his NIL money. "I'm sure I'll give in once I see more 0s on my account," Fiske told MarketWatch.

Persons: Fiske, Braden Fiske, he's, He's, he'll Organizations: Honda Accord, Florida State University, NFL, NCAA, FSU, Business, IRA, Air, CNBC Locations: Detroit

☆ Photos challenge misconceptions about what it means to be an American Muslim
▼ + stars: | 2024-04-09 | by ( Leah Dolan | ) edition.cnn.com time to read: +8 min

These are some of the faces featured in “Muslims in America,” an ongoing photography series by British artist Mahtab Hussain. Mahtab HussainSo far, Hussain has documented subjects living in New York, LA, Baltimore and Toronto, Canada. I’ve met people from all over the world in the US who are Muslim: Palestinians, people from all over Africa. Not only do Hussain’s photographs visually challenge the way American Muslims have been portrayed, he has also offered space for his subjects to share their experiences. Mahtab HussainMany members of Dearborn’s Arab American and Muslim American communities have openly rejected Biden for his handling of the Israel-Hamas war.

Persons: Julo, Adbul, Candace, Mahtab Hussain, “, ” Hussain, Hussain, Arslan, ”, Riz Ahmed, creatives, I’ve, ” Julo Cisse, Mahtab Hussain Syeda Monique Legette, he’s, ” Itar Mechmechia, ” Dayana Aziz, Abdullah Hammoud, Joe Biden’s, Biden, Netanyahu, Candace Ashley, that’s, Adbul Warsame, Mahtab Hussain Ahmed Mohamed Organizations: CNN, Nike Air Jordans, Pew Research Center, USC, Initiative, USC Annenberg, British Pakistani Muslim, American, The New York Times, Hamas Locations: United States, America, British, New York, UK, Australia, New Zealand, Glasgow, Kashmir, Pakistan, LA, Balitmore, Baltimore, Toronto, Canada, British Pakistani, Africa, Britain, New York City, Dearborn , Michigan, Gaza, American, Israel, Michigan

☆ Sotheby's leans into sports with auctions of Jordan shoes, Ali trunks and Kobe jersey
▼ + stars: | 2024-03-20 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Sotheby's is increasing its sports offerings, as the auction house looks to capitalize on the growing demand for sports memorabilia and draw in a younger demographic. Demand for athletic memorabilia has jumped in recent years, and sports has become one of Sotheby's fastest-growing categories, the auction house said. "We've seen exponential growth and interest in the category," Brahm Wachter, Sotheby's head of Streetwear & Modern Collectibles, told CNBC. Sotheby's said its average client for sports memorabilia are 20 to 40 years old, and 50% of them are new to auctions. The sale set a new global auction record for game-worn sneakers and became the second-highest price achieved for Jordan sports memorabilia.

Persons: Michael Jordan, Sotheby's, Wachter, Jordan Organizations: Wednesday, CNBC, Consulting, Chicago Bulls, NBA, Air, Jordan Locations: Jordan

☆ A Christian pop-up nightclub in Nashville plays Jesus rap and forbids twerking, drinking, and smoking
▼ + stars: | 2024-03-02 | by ( Associated Press | ) www.businessinsider.com time to read: +9 min

Read previewThe young crowd at a Nashville nightclub was ready to dance under the strobe lights to a throbbing mix of hip-hop, rap and Latin beats. The last unspoken rule seemed obvious by then: No secular music — the playlist would be all Christian. Word quickly spread around that a couple had traveled 9,000-plus miles from their home in Brisbane, Australia, to the Christian club in the Tennessee capital known as Music City. Whispering, someone in a small group asked God "to keep away negative suicidal thoughts." "It sounds oxymoronic — a Christian dance club," said Nicholas Oldham, who manages the club's business.

Persons: —, Eric Diggs, Jordan Diggs, Jesus, Jade Russell of, Jessie Wardarski, Aaron Dews, Benji Shuler, Garrett Bland, Donald Lawrence, God, Nia Gant, Gant, Kim Posala, Darin Starks, Haynza Posala, Jessie Wardarski Mic, Carlton Batts Jr, Batts, Caleb Gordon, Kirk Franklin, don't, Shem Rivera, Noah Moon, Rivera, Nicholas Oldham, Oldham Organizations: Service, Business, Ivy League, Nike, Adidas, Pepsi, Jordans, Christian, Club Locations: The, Jade Russell of Louisville , Kentucky, Grand Rapids , Michigan, Brisbane, Australia, Tennessee, Music, Kansas, Nashville

☆ Tiger Woods signs apparel and footwear deal with TaylorMade following his split with Nike
▼ + stars: | 2024-02-12 | by ( Jessica Golden | ) www.cnbc.com time to read: +4 min

Tiger Woods at the practice range on April 5, 2022, before the start of the 2022 Masters at Augusta National Golf Club in Augusta, Georgia. Woods says the name of the brand "Sun Day Red" is a tribute to the fact that he's always worn red on Sundays. The tiger logo is a tribute to the 15 majors he has worn over the course of his career. The brand, Sun Day Red , will be available first only online beginning in May. Tiger Woods and TaylorMade have made it official.

Persons: Tiger Woods, Woods, Tiger, TaylorMade, David Abeles, Abeles, Mark Steinberg, Michael Jordan, Eric Smallwood, Smallwood, Rory McIlroy, That's, Josh Gerben, Gerben Organizations: Augusta National Golf Club, PGA, Sun, Nike, CNBC, TaylorMade, Air, Apex Marketing, of Famer, Apex, ESPN, Ventures, Gerben, CNBC PRO Locations: Augusta , Georgia, Pacific Palisades , California, Carlsbad , California, TaylorMade, Los Angeles

NEW YORK (AP) — A collection of sneakers that superstar Michael Jordan wore as he and the Chicago Bulls won six NBA championships has fetched $8 million at auction, setting a new record for game-worn sneakers, Sotheby's said. The six Air Jordan shoes — one apiece from the last games of the 1991, 1992, 1993, 1996, 1997 and 1998 championship series — sold Friday. The auction lot included photos of Jordan wearing a single shoe as he celebrated the 1992, 1993, 1996 and 1998 wins. The pair he wore in the second game of the 1998 NBA Finals was sold through Sotheby's last April for $2.2 million, a record for a pair of sneakers. The highest auction price for any Jordan memorabilia was $10.1 million for his jersey from the first game at that series, according to Sotheby's, which sold it 2022.

Persons: Michael Jordan, Sotheby's, Air Jordan, —, Michael Jordan’s, Wachter, Sotheby’s, ”, Jordan, David Stern Organizations: Chicago Bulls, NBA, Air, longtime Bulls, Jordan, Nike, Bulls, Heritage

☆ Michael Jordan's championship sneakers sold for a record-breaking $8m
▼ + stars: | 2024-02-03 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

A set of Michael Jordan's championship sneakers was sold for a record-breaking $8m, the BBC reports. The six individual sneakers were all worn by Jordan during the game-clinching NBA finals in the 1990s. During his career, the basketball superstar went to the NBA Finals six times and won each time. The set of winning sneakers include Air Jordan VI (1991), Air Jordan VII (1992), Air Jordan VIII (1993), Air Jordan XI (1996), Air Jordan XII (1997), and Air Jordan XIV (1998). The photos, taken by Bill Smith, were taken after the 1992, 1993, 1996, and 1998 NBA Finals.

Persons: Michael Jordan's, Jordan, Jordan VI, Jordan VII, Air Jordan VIII, Air Jordan XII, Air Jordan XIV, Bill Smith, Brahm Wachter, Matthew Kish, Sotheby's, Michael Jordan, He's Organizations: BBC, NBA, Air, Forbes, of Fame, Jersey, Charlotte Hornets, Business Locations: Dubai

☆ Michael Jordan’s championship sneakers sell for record $8 million at auction
▼ + stars: | 2024-02-03 | by ( Amarachi Orie | ) edition.cnn.com time to read: +3 min

Friday’s winning bid for “The Dynasty Collection” reached $8,032,800, setting a new global auction record for game-worn sneakers, according to auction house Sotheby’s. The set consisted of Air Jordan VI (1991), Air Jordan VII (1992), Air Jordan VIII (1993), Air Jordan XI (1996), Air Jordan XII (1997), and Air Jordan XIV (1998). “This set represents the most valuable and significant collection of Air Jordan sneakers ever brought to market,” the auction house said on its website ahead of the auction. An exceptional player, Jordan earned the nickname “Air Jordan” because of his incredible leaping ability and acrobatic maneuvers. The Air Jordan line has been coveted by sneakerheads ever since the ex-Bulls star wore them in his rookie year – with a buoyant resale market for his range.

Persons: Michael Jordan, Friday’s, Air Jordan VI, Jordan VII, Air Jordan VIII, Air Jordan XII, Air Jordan XIV, Air Jordan, Tim Halland, Jordan, Sotheby’s, Jordan XII, Jerome Farve, Jordan ”, sneakerheads, – Organizations: CNN, Basketball, Air, Chicago Bulls, Private American Collector, NBA, Utah Jazz, United Center, ex, Bulls, Nike Air Ships Locations: Halland –, Halland, Chicago , Illinois, New York

☆ All I Want for Christmas Is Clearly Detailed in My PowerPoint Presentation
▼ + stars: | 2023-12-06 | by ( Suzanne Kapner | ) www.wsj.com time to read: 1 min

After getting some dud Christmas presents last year, Ben Galvani decided his family needed more specific instructions. This year, the 11-year-old created a nine-page slide deck detailing every item on his list. One slide is dedicated to sneakers, including two types of Air Jordans. Another one, “Jerseys,” has pictures of gear from NBA athletes such as Stephen Curry and Jordan Poole. Then there are videogames for his Xbox and a temporary tattoo kit, the latter listed under “miscellaneous.”

Persons: Ben Galvani, ”, Stephen Curry, Jordan Poole

☆ North Korean Escapee Who Begged on the Streets Chases K-Pop Stardom
▼ + stars: | 2023-11-15 | by ( Jiyoung Sohn | Dasl Yoon | ) www.wsj.com time to read: 1 min

SEOUL—At first glance, Yoo Hyuk looks like a typical K-pop rapper. He sports baggy pants, a black beanie and Air Jordans. A silver chain dangles from his neck. But Yoo represents a new wrinkle in South Korea’s music industry: The aspiring K-pop star is from North Korea.

Persons: Yoo Hyuk, Yoo Locations: SEOUL, North Korea

☆ Nike shares pop after mixed first-quarter results. Here's what the pros say
▼ + stars: | 2023-09-29 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the latest reactions on Nike from investors and analysts. The pros discussed the maker of Air Jordan athletic shoes after it reported mixed fiscal first-quarter results. Nike reported revenue of $12.94 billion that was below the expected $12.98 billion, but its earnings of 94 cents per share beat expectations. The latest financials mark the first time in two years the sneaker giant missed on revenue. Despite the mixed results, though, Nike shares surged Friday, closing up 6.7%.

Organizations: Nike, Air Jordan

☆ Podcast: The Biden administration's strategy is contributing to the increase of sexual violence on the border, experts say
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Experts say the Biden administration’s new border strategy is contributing to the increase. Nike’s Air Jordans are losing their resale value. Is sneaker culture moving on? Further ReadingSuicide blast in southwest Pakistan kills at least 52, more than 50 injuredNike Air Jordans are losing resale value. Is sneaker culture moving on?

Persons: Taylor, Wagner, Putin, Troshev Organizations: Apple, Google, Reuters, Biden, NFL, Putin, Thomson, Nike Air Jordans Locations: Mexico, Pakistan, Ukraine

☆ Nike Air Jordans are losing resale value. Is sneaker culture moving on?
▼ + stars: | 2023-09-27 | by ( Katherine Masters | ) www.reuters.com time to read: +5 min

The famous Nike swoosh and Air Jordan logo is seen on an Air Jordan 1, called "Notorious" released from 1984-1985, during a preview for "The Rise of the Sneaker Culture" exhibit at the Brooklyn Museum in the Brooklyn borough of New York, July 8, 2015. Some investors are concerned the Jordan brand, a major source of sales for Nike, may be "losing steam," Bernstein analysts said on Sunday. The company does not report what percent of its total revenues come from the Jordan brand. Sales of performance shoes from Nike's Jordan brand have also outpaced retro styles, which include Air Jordan 1 high-tops, Donahoe said in June. Donahoe told investors in June that the company had "reset" its running business, highlighting updates to existing styles including its Infinity road running shoes and Pegasus trail running shoes.

Persons: Brendan McDermid, Altan, Jordan, Bernstein, John Donahoe, Salomon, Donahoe, Altan's, Dylan Dittrich, Jessica Ramirez, Jane Hali, Katherine Masters, Deborah Sophia, Josie Kao, Shweta Agarwal Organizations: Nike, Air, Brooklyn Museum, REUTERS, Altan Insights, Nike's Air, Air Jordan, Reuters Graphics, Barclays, Associates, Thomson Locations: Air Jordan, Brooklyn, New York, North America, Jordan, American, U.S, Bengaluru

☆ Michael Jordan’s ultra-private, ultra-exclusive personal golf course: The Grove XXIII
▼ + stars: | 2023-09-22 | by ( Jack Bantock | ) edition.cnn.com time to read: +11 min

Even as he was staking his claim in the 1990s as the greatest player the NBA has ever seen, the Bulls icon was a regular guest on the golf course. Bobby Weed Golf Design“Slaughterhouse 23”Weed had his two pillars for a great golf course — an engaged owner and a good piece of property, though the latter would require some polishing. Bobby Weed Golf DesignThe course didn’t just need to suit the playstyle of its owner, though, it needed to enhance it. Bobby Weed Golf DesignTaking a swingCompared to Bobby Weed Golf Design, Nichols Architects had considerably less experience in golf courses, but it did have one key advantage in its efforts to beat other bids to build The Grove XXIII’s clubhouse. “That’s like the ultimate compliment … to have his own golf course and to shape and mold that golf course for him and his friends, it’s just where he wants to be.

Persons: CNN —, Michael Jordan cherishes, it’s, Nichols, Mike Butler, Bobby Weed, Pete Dye, Hobe, Tiger Woods, Cliff Hawkins, Jordan, “, ” Weed, Weed, Jacob Kupferman, didn’t, Championships Jordan, ” “, Rickie Fowler, ”, Yvette Prieto, “ You’re, Igor Reyes, “ You’ve, ” Reyes, Nichols Architects Reyes, Jordan’s, ’ ” Nichols, Jimmy Walker, Reyes, it’s ‘, ‘, Grove, …, He’s Organizations: CNN, NBA, Bulls, Nichols Architects, PGA, Tiger, PGA Tour, Forbes, Augusta National, Championships, Nike, Adidas, Woods, ’ ” Nichols Architects, Air Locations: Chicago, Hobe Sound, Florida, Grove, Stillwater , Minnesota, Mito, Japan, Jordan, Ridge, Ponte Vedra, Pine Valley, ” Jordan, Miami, Weed

☆ Smash-and-grab robberies are out, organized cargo theft is surging up 57% higher than last year, and the thieves are targeting your Nikes
▼ + stars: | 2023-08-06 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

While smash-and-grab robberies still happen, organized cargo theft is becoming more prevalent. Cargo theft has surged up 57% compared to 2022, with industry leaders calling thieves "emboldened." The Wall Street Journal identified Nike shipments as one of the most commonly targeted for theft. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The Wall Street Journal reported one type of shipment is particularly popular with thieves: Nikes.

Persons: Louis Vuitton, Drake, CargoNet, Nick Stewart Organizations: Street Journal, Nike, Service, Nordstrom, CargoNet, Street, CNBC News, Walmart, Target, Los Locations: Wall, Silicon, California, Canada, Angeles, California , Texas, Florida, Illinois, Chicago , Portland, Albuquerque, Minneapolis , Philadelphia, Los Angeles County

☆ Opinion: Twitter is gone. Now we’ll see how many people make X their ‘ex’
▼ + stars: | 2023-07-25 | by ( Opinion Bill Carter | ) edition.cnn.com time to read: +6 min

For a whole lot of people, the latter best describes how they are feeling about Twitter, the live social conversation app. Having overseen — devised, really — the demise of Twitter, Musk has also created a reasonable chance that he could now be in charge of a complete brand blowout, should this daring reboot eventuate in extinction for X. The app formerly known as “Twitter” had almost 370 million users globally in December of last year, after Musk paid (overpaid) $44 billion to buy it. Less than a year later, it is already down to 353 million users, and Statista projects the number will decline to 335 million in 2024. Threads reached 100 million users in five days, which was surely the biggest case in history of rustling wandering strays from the herd.

Persons: Bill Carter, Bill Carter Fred Conrad, it’s, Elon Musk, —, Musk, anoint, Molotov, Imran Ahmed, “ Elon Musk, Linda Yaccarino, Twitter ”, can’t Organizations: The New York Times, CNN, HBO, Twitter, Black, Center, San Francisco, SpaceX, Meta, Facebook, SNL, Nike

☆ The 'Barbie' movie could boost Mattel's stock prices and increase the price of old dolls in your closet, but avid Barbie collectors couldn't care less
▼ + stars: | 2023-07-15 | by ( Colette Fountain | ) www.businessinsider.com time to read: +9 min

Insider spoke to three Barbie collectors who seem unfazed by the potential rise in the dolls' worth. As a collector doing it for love, he told Insider those looking to make money should invest in other things. Antique expert Dr. Lori told Insider she estimates a 25% rise in the doll's value in the build-up to the film's release and immediately afterward. "There are too many elements to the concept of value, and it's rarely just about finance," Yang told Insider. Even if these Barbie collectors were looking to make a quick buck in Gerwig's box office weekend, selling Barbies isn't easy.

Persons: Greta Gerwig's, Jian Yang, Yang doesn't, Yang, Barbie, Margot Robbie, Ryan Gosling, MarketBeat, Lori, Hankwitz, Mattel, Tommy Hilfiger, Gigi Hadid, Calvin Klein, Juno, Teresa, Arjen, Queen Elizabeth, Tina Turner, It's, I've Organizations: Service, Google, Mattel, Warner, Air, Nike, billings, eBay Locations: Wall, Silicon, Singapore, Philadelphia, Netherlands, Poland

☆ Look of the Week: Does Jannik Sinner’s Gucci duffle bag signal a shift at Wimbledon?
▼ + stars: | 2023-07-11 | by ( Leah Dolan | ) edition.cnn.com time to read: +5 min

CNN —On Monday July 3, Italian tennis star and Men’s Singles contender Jannik Sinner arrived on the center court at Wimbledon with a custom Gucci duffle bag slung across one shoulder. Sinner became a brand ambassador for Gucci last year. The next generation of tennis players are even experimenting with jewelry: Russian player Andrey Rublev is known to layer several silver pendants, while Nick Kyrgios is rarely seen without his double hoop earrings. Permission for the highly-engineered moment was granted after a lengthy approval process involving the International Tennis Federation, Association of Tennis Professionals and Wimbledon. As Sinner told Women’s Wear Daily, “(This bag) will create a conversation.”

Persons: Jannik Sinner, Gucci, Elsa Schiaparelli, Lili de Alvarez, Lea Pericoli, Teddy Tinling, Sinner, Clive Brunskill, Serena Williams, Emma Raducanu, Dior, Arthur Ashe —, Wimbledon —, Arthur Ashe's, Tony Triolo, Bjorn Borg, Babe Ruth, Fila, Pat Cash, Andre Agassi, Chris Cole, Anna Wintour, Carlos Alcaraz, Louis Vuitton, Calvin Klein, Andrey Rublev, Nick Kyrgios, Sinner’s Gucci, it’s, Kyrgios, Women’s, ” Organizations: CNN, Wimbledon, Tiffany’s, Adidas, Nike, Rowing Blazers, Getty, Vogue, International Tennis Federation, Association of Tennis Professionals, Air Jordan Locations: Italian, Wimbledon

☆ Temu sellers are now even copying product photos, descriptions, and entire Amazon storefronts, lawsuits allege
▼ + stars: | 2023-07-11 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

Amazon sellers told Wired that sellers on the ultra-cheap marketplace Temu are copying their listings. Sellers told the publication that their Amazon sales have recently declined. According to an article by tech publication Wired, Amazon sellers have discovered their products are being sold on the ultra-cheap marketplace Temu for less. While the site has been known to sell counterfeit and knockoff goods, in some cases, Temu sellers have copied product photos, descriptions, and keywords directly from the original Amazon listings. In 2020, Amazon established its Counterfeit Crimes Unit, which works with brands to identify and remove counterfeit products.

Persons: Sellers, Temu, they've, sneakerheads, Nike Air Jordan knockoffs, Shein, Ralph Lauren, Oakley, Martens Organizations: Service, Wired, Temu, Bloomberg, Nike Air Jordan, Amazon Locations: Wall, Silicon, Europe, China

☆ Shein is trying to broaden its appeal by luring luxury brands like Stuart Weitzman and Paul Smith to sell products on its marketplace
▼ + stars: | 2023-07-08 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

As part of its marketplace, Shein is offering a wide range of products from third-party sellers. Brands interested in selling on Shein must first reach $2 million in annual sales on Amazon, the Journal reported. Shein Marketplace sellers are eligible to receive incentives from the Chinese-owned company if they reach sales goals. For those that qualify, the company is offering big incentives to sell on Shein too. In the months following the marketplace launch, Shein has dealt with sellers offering counterfeit items on the platform.

Persons: Peter Pernot, Paul Smith, Stuart Weitzman, Shein, Sneakerheads Organizations: Brands, Service, Street Journal, Euromonitor International Locations: Wall, Silicon, United States

☆ Shein wants to be the next Amazon Marketplace. It's already dealing with counterfeits and copyright issues.
▼ + stars: | 2023-07-06 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +4 min

Until recently, Shein has relied on sourcing its products through its on-demand manufacturing model. Last month, the Chinese-owned e-commerce company expanded its marketplace beyond clothing and introduced home appliances, electronics, gardening supplies, and kitchen utensils, among other categories. But to grow its offerings, the company took a page out of Amazon's Marketplace playbook and opened its marketplace to third-party retailers in May. In doing so, it may invite more of the same counterfeit and copyright infringement issues that Amazon's marketplace has faced. In 2020, Amazon established its Counterfeit Crimes Unit, which works with brands to identify and remove counterfeit products.

Persons: Shein, —, skimpy swimsuits, Ralph Lauren, Oakley, Martens, sneakerheads Organizations: Service, Nike Air, US Customs, US Chamber of Commerce, Amazon, Bloomberg Locations: Europe, China

Stronger than expected economic data pushed Treasury yields higher and steered investors toward economically sensitive sectors as recession fears eased. But buyers shied away from some rate-sensitive growth sectors due to concerns the Fed would keep interest rates higher for longer. After a health check showed that the biggest U.S. banks have enough capital to weather a severe economic slump the S&P 500 banks index (.SPXBK) closed up 2.6%. The Dow Jones Industrial Average (.DJI) rose 269.76 points, or 0.8%, to 34,122.42, the S&P 500 (.SPX) gained 19.58 points, or 0.45%, to 4,396.44 and the Nasdaq Composite (.IXIC) dropped 0.42 points to 13,591.33. The S&P 500 posted 44 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 90 new highs and 90 new lows.

Persons: Mona Mahajan, Louis, Edward Jones, Russell, Jerome Powell, Brendan McDermid, Air Jordan, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, David Gregorio Our Organizations: Dow, Nasdaq, St, Dow Jones, New York Stock Exchange, REUTERS, Brendan McDermid Traders, Reuters, Nvidia, Microsoft, SOX, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, Nike, Air, LeBron, NYSE, Thomson Locations: New York City, U.S, megacaps, Philadelphia, New York, Bengaluru

☆ Nike beats quarterly revenue estimates on buoyant sneaker demand
▼ + stars: | 2023-06-29 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: The Nike swoosh logo is seen outside the store on 5th Avenue in New York, New York, U.S., March 19, 2019. REUTERS/Carlo Allegri/File Photo(Reuters) - Nike on Thursday beat Wall Street estimates for quarterly revenue, benefiting from a recovery in China following the lifting of pandemic restrictions and buoyant demand for its sneakers such as Air Jordan and LeBron 20. The company’s fourth-quarter revenue rose to $12.83 billion from $12.23 billion a year earlier. Analysts had expected $12.59 billion, according to Refinitiv data.

Persons: Carlo Allegri, Air Jordan Organizations: Nike, REUTERS, Air, LeBron, Analysts Locations: New York , New York, U.S, China

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