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Top related persons:
Florence - 1 John Donahoe - 1 Armour - 1 Jane Hali - 1 Jessica Ramirez - 1 Granth Vanaik - 1 Ananya Mariam Rajesh - 1 Sriraj - 1
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2 mentions found


☆ Nike's gloomy forecast puts spotlight on N America slowdown
  + stars: | 2023-06-29 | by ( Granth Vanaik Ananya Mariam Rajesh Katherine Masters | Granth Vanaik | Ananya Mariam Rajesh | ) www.reuters.com   time to read: +2 min
In North America, the company's biggest market, still-high inflation has led to consumers buying essential goods and reducing discretionary spending. Sales rose 5% in the region in the fourth quarter, the slowest in four quarters as U.S. wholesalers became more prudent in placing newer orders. Peer Under Armour (UAA.N) forecast annual sales and profit below Wall Street estimates in May due to waning demand and higher discounts. The company expects full-year reported revenue to rise mid-single-digits, compared with analysts expectations of a revenue of a 6.3% rise. The company's fourth-quarter revenue rose to $12.83 billion and beat estimates of $12.59 billion, while earnings per share of 66 cents missed estimates by 1 cent.
Persons: Florence, John Donahoe, Armour, Jane Hali, Jessica Ramirez, Granth Vanaik, Ananya Mariam Rajesh, Sriraj Organizations: Nike Inc, REUTERS, Nike, Wall, Associates, Reuters, Thomson Locations: Beijing, China, North America, Europe, Middle East, Africa, Jessica Ramirez . Greater China, Bengaluru
☆ Estee Lauder sinks after dour 2023 outlook due to slow recovery in Asia
  + stars: | 2023-05-03 | by ( Ananya Mariam Rajesh Katherine Masters | Ananya Mariam Rajesh | Katherine Masters | ) www.reuters.com   time to read: +3 min
Shares of the company hit a six-month low of $190.30 during trading hours after Estee Lauder slashed its fiscal-year forecasts for a third time. Estee expects full-year 2023 net sales to fall between 10% and 12%, compared with its prior forecast of a 5% to 7% decrease. Even though China relaxed pandemic-related restrictions, the company saw January 2023 pressured by retailers destocking due to an increase in COVID-19 cases. Estee has also been challenged by the growth of smaller competitors in the beauty space, according to Travis. Estee forecast adjusted per-share profit to fall by 50% to 51%, compared with a 27% to 29% decrease it expected earlier.
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