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Meta — The technology stock soared more than 14% after posting better-than-expected fourth-quarter earnings of $5.33 per share on revenue of $40.11 billion. That exceeded the earnings of $4.96 per share on $39.18 billion in revenue LSEG had expected. Deckers' revenue of $1.56 billion also surpassed the $1.45 billion LSEG had forecast. Skechers is calling for 2024 revenue of $8.6 billion to $8.8 billion and earnings of $3.65 to $3.85 per share. Meanwhile, Coursera reported revenue of $168.9 million, higher than the $164.1 million consensus.
Persons: Dave Powers, Stefano Caroti, Skechers, LSEG, Clorox, Coursera, FactSet, — CNBC's Alexander Harring, Darla Mercado Organizations: FactSet, LSEG, Columbia, Apple Locations: Columbia, China
Ugg bootsUgg's $150 ultra mini platform boot. Piper Sandler's latest semi-annual survey of over 5,000 teens had similar findings: Ugg boots ranked as the No. Ugg's parent company, Deckers, is seeing the trend pay off. The company reported a 21% spike in new customers during its most recent quarter, particularly among 18 to 34-year-olds. That newfound popularity is partly tied to the release of its $150 mini platform boots.
Ugg bootsUgg's $150 ultra mini platform boot. Piper Sandler's latest semi-annual survey of over 5,000 teens had similar findings: Ugg boots ranked as the No. Ugg's parent company, Deckers, is seeing the trend pay off. The company reported a 21% spike in new customers during its most recent quarter, particularly among 18 to 34-year-olds. That newfound popularity is partly tied to the release of its $150 mini platform boots.
Foot Locker and other sneaker retailers have learned their lesson about depending too much on Nike. Foot Locker has allocated more wall space to emerging performance running brands like On and Hoka. Foot Locker and other sneaker retailers have learned their lesson from Nike's shifting strategy. Although Nike still sells at some retailers like Foot Locker, Nike is committed to putting its own direct-to-consumer sales first. "Acquiring a 21-year-old in New Jersey is more expensive for us to do than Foot Locker because Foot Locker has kept that relationship with that consumer," On co-CEO Marc Maurer told Insider in an interview.
Nike alums lead numerous brands, including Lululemon, Allbirds, Columbia Sportswear, and The North Face. Tim Sheerin, the senior vice president of global wholesale at Columbia Sportswear, at an investor day event this year. The trend has accelerated in recent years, with competing sportswear companies including Lululemon and Allbirds opening offices in Portland, Oregon. While sportswear companies are a natural fit for former Nike executives, nonathleticwear companies also have hired from Nike's top ranks. Crocs, which named the former Nike vice president Emma Minto the senior vice president of the Americas in 2020, also has been on a hot streak.
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