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☆ Nordstrom says sales slowed in past two months; shares fall 9%
▼ + stars: | 2022-11-22 | by ( Granth Vanaik | ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - Nordstrom Inc (JWN.N) said on Tuesday net sales at its eponymous retail stores fell 3.4% in its third quarter, and overall sales for the company slowed down in the past couple of months, "particularly in geographies with unseasonably warm weather." The company also trimmed its net profit forecast for the fiscal year ending January 2023. In the third quarter, sales in its off-price division — Nordstrom Rack — fell 2%. Nordstrom's adjusted earnings of 20 cents per share topped estimates of 13 cents. It expects an annual profit of $2.13 and $2.43, excluding share repurchase activity, trimmed from $2.45 to $2.75 previously.

[1/4] A signage is seen in the offices of Tapestry, Inc., in Manhattan, New York, U.S., November 19, 2021. Accessible luxury brands such as Michael Kors and Ralph Lauren are likely to feel a bigger pinch than higher-priced brands, as their young core customer base looks for deals at the lower end of the fashion spectrum. Ralph Lauren said its holiday quarter revenue would be hit by slowing demand in North America and Europe, where soaring energy costs are also pinching consumer wallets. Tapestry and Ralph Lauren also warned a stronger dollar would hit their earnings. Ralph Lauren shares, which have lost almost a quarter of their value this year, rose about 5% in premarket trading after the company beat second-quarter sales and profit expectations.

Weber , which went public in August 2021 and is trading at half its offering price, is the latest example of a recent IPO to attract a bid to go private. Recent IPOs ducking for the door First, to understand why we selected these criteria, let's look at the recent deals. Kennedy Lewis' $4 per share cash offer was an 83% premium to F45's closing price ahead of the deal announcement, even though it was far below the stock's $16 IPO price. Even with the lift from the deal news, shares are only trading at less than half its $14 IPO price. Private equity company AEA Investors had a 28.4% stake in the company, and CEO Jeremy Andrus owns an 11% stake, according to FactSet.

☆ Holiday bargains will dent retail profits. How investors can avoid taking a beating
▼ + stars: | 2022-10-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +11 min

Stifel's research found that consumers plan to spend 9% more this holiday season over 2021. Roughly three-quarters of respondents to a PwC holiday poll indicated they plan to spend the same or more this holiday season. Rather than marking down inventory, companies should hold on to it for the next year if their balance sheets can withstand it, said Siegel. Across the board, many flagship retail stores heavily focused on apparel and footwear like Kohl's and Macy's may struggle to lure customers intent on saving money on discretionary purchases. He points to names heavily focused on electronics and home goods purchased by consumers during the pandemic as one of the weaker areas this holiday season.

☆ Lululemon slashes price of Mirror by 50% as it nears launch of fitness studio membership
▼ + stars: | 2022-09-28 | by ( Matthew Kish | Ann Gehan | ) www.businessinsider.com time to read: +3 min

Lululemon announced the price change as part of the upcoming launch of a new studio platform. On Wednesday, it offered new details about the platform, which it's calling Lululemon Studio, including an October 5 launch date. Membership requires the purchase of a Mirror device, and current Mirror owners will automatically become members of the program for 12 months. Lululemon will also launch a free membership program on October 5 that will offer shopping rewards, free access to select Lululemon Studio classes, and early access to product drops. At the April investor day, said Michael Aragon, Lululemon Digital Fitness CEO, said Mirror is a natural fit for the company's business plan.

☆ DTC cookware brand Caraway raises $35 million to add retail partnerships and products as it builds out its 'ecosystem' of home essentials
▼ + stars: | 2022-09-28 | by ( Ann Gehan | ) www.businessinsider.com time to read: +5 min

The DTC home-goods brand Caraway just raised $35 million in funding, the company told Insider. The DTC retailer announced a $35 million funding round on Wednesday to grow its product selection, head count, and overall retail presence. Being in stores also helps Caraway compete more effectively with other home brands, Nathan said. The brand's retail sales this year were up 300% through August compared to the same period in 2021. Caraway aims to keep its customer-acquisition spend low enough so that a customer's first purchase is profitable for the brand.

☆ Nike is aggressively opening new stores as it pushes forward on its plan to sell directly to consumers. Wall Street isn't sold on the strategy.
▼ + stars: | 2022-09-26 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

The stores are popping up all over the US and significantly increase Nike's store footprint. At the time of the filing, the company had 209 clearance stores and 48 full-price stores. The other 87 Nike stores were for its Converse brand. Even much smaller competitors, such as Allbirds, operate nearly as many full-price stores, roughly 35, as Nike does. Nike's new stores opening in the US and Europe appear to be a mix of the recently introduced Live and Unite formats.

☆ Nike's betting big on DTC, but it'll be a 'battle' to engage customers without retailers, analyst warns
▼ + stars: | 2022-09-23 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

At Nike's annual shareholder meeting two weeks ago, top executives once again defended the company's ongoing shift to more direct sales. Direct sales increased 7% to $4.8 billion in Nike's most recent quarter as it cuts down its reliance on wholesale. But yet another analyst is questioning the logic of the company's drastic pivot to direct sales. For decades, Nike largely operated through wholesale partners, such as department stores, sporting goods retailers, and mom-and-pop sneaker shops. At its annual shareholder meeting this month, CFO Matt Friend said the DTC strategy has driven a 2.6 percentage point increase in the company's gross margin in two years.

☆ Nike is racing to replicate Amazon's delivery speed by connecting its complex network of stores, warehouses, and tech
▼ + stars: | 2022-09-19 | by ( Matthew Kish | ) www.businessinsider.com time to read: +8 min

Nike is working to tie together inventory held by stores, retail partners, and warehouses. The company's connected-inventory plan also plays into a larger Nike shift to more regional shipping, including out of a wider fleet of Nike stores and warehouses. Gloria DawsonMore retail stores, more warehousesAs part of the overall effort to serve customers "when they want it, how they want it," Nike is adding retail stores and distribution centers. While most of Nike's stores are in major metropolitan areas, stores are increasingly popping up in second-tier cities. If you go into Dick's, and Dick's doesn't have it, and they have it at the Nike store, they ship it to your house.

☆ Nike races to deliver at Amazon's speed by doubling down on 'connected inventory'
▼ + stars: | 2022-09-16 | by ( Matthew Kish | ) www.businessinsider.com time to read: +8 min

At an annual meeting last week, Nike CEO John Donahoe once again talked about "connected inventory." The company's connected-inventory plan also plays into a larger Nike shift to more regional shipping, including out of a wider fleet of Nike stores and warehouses. By that time, Parker said he was bullish on connected inventory, with a pilot at 19 Nike stores in South Korea and two unnamed retail partners. While most of Nike's stores are in major metropolitan areas, stores are increasingly popping up in second-tier cities. "Connected inventory is about getting it to you faster.

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