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☆ Microsoft's AI boost helped cloud business outpace rivals Amazon and Google in latest quarter
▼ + stars: | 2023-10-27 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

That's faster than Google Cloud's 22% growth and more than double the pace of expansion at Amazon Web Services, which reported 12% growth. "Today more than half of all funded generative AI startups are Google cloud customers," Alphabet CEO Sundar Pichai said on the company's earnings call Tuesday. "Our generative AI business is growing very, very quickly," Jassy said. Jassy said companies including Adidas, Booking.com , Merck and United Airlines are building generative AI apps in AWS. Still, Amazon was behind Microsoft in releasing a tool for deploying generative AI.

Persons: Satya Nadella, Mark Moerdler, Sundar Pichai, Andy Jassy, Jassy, Brian Olsavsky, Jefferies, Brent Thill Organizations: Microsoft, Google, Amazon Web Services, AWS, Bernstein Research, Adidas, Booking.com, Merck, United Airlines, OpenAI Service, Oracle, Skanska, Starbucks, Amazon Locations: OpenAI, Maersk

☆ Kanye and Adidas: Money, Misconduct and the Price of Appeasement
▼ + stars: | 2023-10-27 | by ( Megan Twohey | More About Megan Twohey | ) www.nytimes.com time to read: +3 min

Even as they squared off in arbitration, Adidas and Mr. West came to an agreement that served their common interest. But most of the revenue would go to Adidas, and Mr. West was entitled to royalties. “Very unfortunate,” Mr. Gulden said, “because I don’t think he meant what he said.”Days later, Jonathan Greenblatt, the head of the Anti-Defamation League, posted online that Mr. Gulden had apologized for those remarks. “Our stance has not changed.”MethodologyThe grid at the top of this article includes most Adidas Yeezy releases between February 2015 and August 2023. the Yeezy Boost 380 Onyx and Yeezy Boost 380 Onyx Reflective).

Persons: West, George Floyd’s, Matt Powell, “, Bjorn Gulden, Mr, ” —, Gulden, ”, Jonathan Greenblatt, Ye, ” Adidas, Joe Coscarelli, Julie Tate, Rumsey Taylor Organizations: The Times, Adidas, Mr, Defamation League Locations: StockX

All of a sudden, after a single summer, the pink jersey is everywhere. Tor Southard was better placed than most, but even he was caught unaware. As Adidas’s senior director for soccer in North America, he had been receiving emails from colleagues for nearly a year asking if the company’s biggest star, Lionel Messi, would be joining Inter Miami, also a client of Adidas. As far as he knew, it was just a rumor. Like the rest of the planet, Southard learned it was true only on June 7, the day Messi announced his intentions in a rare interview with two Spanish news outlets.

Persons: Tor Southard, Adidas’s, Lionel Messi, Messi Organizations: Inter Miami, Adidas Locations: Buenos Aires, Bangkok, England, Southeast Asia, North America

☆ How Nike Fell Behind in the Innovation Race
▼ + stars: | 2023-10-21 | by ( Inti Pacheco | ) www.wsj.com time to read: 1 min

Nike said sales of footwear in North America—its largest market—fell 2% in the latest quarter. Photo: Benjamin Girette/Bloomberg NewsNike made a swift comeback earlier this month in the super-shoe fight when marathon runner Kelvin Kiptum set a world record while wearing a new iteration of the company’s Alphafly 3. But the sneaker maker is losing steam in other races. Competitors such as Hoka and On are gaining a foothold among runners and with people who are looking for something comfortable to wear to work or school. Adidas and New Balance are also making headway in the market for streetwear by bringing back old models in dozens of colorways, moves similar to those from Nike’s own playbook.

Persons: Benjamin Girette, Kelvin Kiptum Organizations: Nike, Bloomberg News Nike, Adidas, streetwear Locations: North America

☆ ESG is 'as crowded as ever,' AllianceBernstein says, naming 'high conviction' stock ideas to play it
▼ + stars: | 2023-10-19 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

ESG is "as crowded as ever," according to AllianceBernstein, which revealed "high conviction" stock ideas to play it. Here are some of their "high conviction" stock ideas to play the theme. 'High conviction' stock ideas AllianceBernstein likes German athletic apparel company Adidas for its "best-in-class" ESG credentials. They gave the firm an outperform rating at a price target of 151 Swedish krona ($13.83), which represents an upside of around 57%. American fast food chain Chipotle Mexican Grill was also given an outperform rating, and a price target of $2,300 – representing upside of around 26%.

Persons: Ann Larson, AllianceBernstein, ESG, — CNBC's Michael Bloom Organizations: Adidas Locations: North America, Europe, Asia, American, Swedish, U.S

☆ Lionel Messi: ‘The Messi Experience’ offers fans interactive way of stepping into Argentine’s boots
▼ + stars: | 2023-10-19 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

CNN —If you’ve ever wanted to briefly step into Lionel Messi’s boots for a day, ‘The Messi Experience’ might be the closest you will get. Kicking off a world tour in Miami in April 2024, the “immersive adventure” will offer fans a brand-new perspective on the Argentine’s legendary career. Brad Penner/USA Today Network/ReutersMessi signed for MLS side Inter Miami in July after his contract expired at Paris Saint-Germain, reportedly turning down more lucrative offers from Saudi Arabia. Messi is currently the MLS’ highest-paid player with more than $20 million guaranteed, the MLS Players Association announced. In July, Inter Miami part-owner Jorge Mas told Spanish publication El Pais in an interview that Messi would earn between $50 and $60 million per year.

Persons: you’ve, Lionel Messi’s, ‘, Messi, ’, “, ” Messi, MLS Messi, Brad Penner, Reuters Messi, Germain, Ballon d’Or, Jorge Mas, Mas, El Organizations: CNN, Primo Entertainment, MLS, USA, Network, Reuters, Inter Miami, Paris Saint, League, La Liga, Barcelona, MLS Players Association, Argentine, Messi, El Pais, Apple TV, Adidas, Apple Locations: Miami, Paris, Saudi Arabia, Argentina, Qatar, Spanish, El Pais

☆ Shein, the fast fashion darling mulling a U.S. IPO, opens up about forced labor, data privacy
▼ + stars: | 2023-10-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +16 min

The committee is investigating Shein over concerns that Uyghur forced labor is being used in its supply chain and has gone undetected because of the de minimis provision. The committee has not yet drawn conclusions about forced labor in Shein's supply chain. When asked about claims of forced labor in Shein's supply chain, Claure told CNBC he doesn't "believe those allegations are correct." However, forced labor can still show up in other parts of the supply chain, said Chloe Cranston, the head of thematic advocacy programmes at Anti-Slavery International. In 2022, 11% of audits turned up "zero tolerance violations," including child labor, forced labor and wage violations, and 28 suppliers were terminated as a result, according to the company.

Persons: Elham Ataeiazar, Shein, Donald Tang, Matt Kennedy, they're, they've, Mike Gallagher, Elise Stefanik, Steve Scalise, Chip Somodevilla, we're, Marcelo Claure, Claure, Ralph Lauren, Rupert Hodges, Oritain, Chloe Cranston, Cranston, It's, it's, Shang, Jin Wei, Wei, Austin Knudsen, Chris Xu, Jade Gao, Knudsen, Gary Gensler Organizations: Wall, Bear, Chinese Communist Party, U.S, Renaissance Capital, CNBC, Bloomberg, Nike, Adidas, Republican National Committee, Washington , D.C, D.C, Target, Costco, Visual China, Getty, Workers, Columbia University's, Communist, CCP, Microsoft, AFP, U.S . Securities, Exchange Locations: Bear Stearns, U.S, China, Beijing, Xinjiang, Washington ,, Washington, Singapore, Nanjing, United States, Chinese, Guangzhou, Brazil, Turkey, India, Mexico, Montana

☆ Adidas shares jump after 2023 guidance raise
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

[1/2] A person looks at clothes in the Adidas store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsLONDON, Oct 18 (Reuters) - Shares in Adidas (ADSGn.DE) gained 4% at the open on Wednesday after the sportswear company raised its guidance for the year in a surprise third-quarter results pre-release. Adidas said it now expects a loss of 100 million euros ($106 million) this year versus a previously expected loss of 450 million and a loss of 700 million euros it warned of in February. It is the second time this year Adidas has raised forecasts ahead of results - expected on Nov. 8 - as sales of its remaining stock of Yeezy shoes helped boost revenue. Reporting by Helen Reid; editing by Jason Neely and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Bjorn Gulden's, Ye, Bjorn Gulden, Graham Renwick, Helen Reid, Jason Neely, Louise Heavens Organizations: Adidas, Woodbury, REUTERS, Berenberg, Thomson Locations: Central Valley , New York, U.S, Europe, China

☆ European shares slip as Middle East fears, ASML weigh
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 16, 2023. REUTERS/Staff/File photo Acquire Licensing RightsOct 18 (Reuters) - European stocks inched lower on Wednesday as deepening fears over an escalation in the Middle East conflict and a drop in ASML shares after the chipmaker's lacklustre forecast overshadowed support from upbeat economic data from China. The pan-European STOXX 600 index (.STOXX) was down 0.2% by 0703 GMT. Adidas (ADSGn.DE) jumped 4.7% after the sportswear firm lifted its revenue forecast and cut its expected loss for 2023. Data showed British annual consumer price inflation was unchanged at 6.7% in September, bucking economists' expectations for a further decline.

Persons: Joe Biden's, ASML, Amruta Khandekar, Sherry Jacob, Phillips Organizations: REUTERS, Staff, U.S, Adidas, Thomson Locations: Frankfurt, Germany, China, Gaza, Israel

☆ Adidas shares climb after boost from Yeezy sales, guidance raise
▼ + stars: | 2023-10-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Shoes are offered for sale at an Adidas store in Chicago, Feb. 10, 2023. Adidas on Tuesday hiked its full-year guidance and posted stronger-than-expected third-quarter earnings, aided by sales of its Yeezy inventory. Third-quarter operating profit came in at 409 million euros, down from 564 million for the same quarter in 2022. "While the company's performance in the quarter was again positively impacted by the sale of parts of its remaining Yeezy inventory, the underlying adidas business also developed better than expected," Adidas said in its earnings report. It has since been working to sell off its remaining inventory of his trademark Yeezy sneakers.

Persons: Ye Organizations: Adidas, adidas Locations: Chicago, Europe, €

☆ A sneakerhead built a YouTube empire with 1.1 million subscribers. Here's how much he makes a year from ads and sponsorships.
▼ + stars: | 2023-10-16 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +6 min

This story is available exclusively to Insider subscribers. Fowler had around 150,000 YouTube subscribers at that point. The YouTube channel, now with 1.1 million subscribers, brought in about $485,000 in gross revenue from advertising and sponsorship deals last year. But Fowler doesn't just stick to YouTube — his budding business empire also includes sales on the live-shopping platform Whatnot and his own apparel company. The larger portion of Fowler's YouTube revenue comes from ads, which brought in an estimated $292,500 in 2022, Insider verified with documentation of the earnings.

Persons: Seth Fowler, Fowler, Apthcry, he's, YouTubers, it's, time's, I've, Christmastime, sneaker giveaways, Apple, He's, Ye, influencers, Qias Omar, Amber Vittoria Organizations: YouTube, NY, Adidas, Facebook

☆ How a sneakerhead built a YouTube empire with over a million subscribers and $485,000 in annual revenue from ads and sponsorships
▼ + stars: | 2023-10-13 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +6 min

☆ IKEA sticks with China despite slowing economy
▼ + stars: | 2023-10-12 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +2 min

REUTERS/Yves Herman Acquire Licensing RightsMALMÖ, Sweden, Oct 12 (Reuters) - China is still a key growth market for budget furniture retailer IKEA despite the world's second-largest economy showing signs of strain, executives at the biggest IKEA store owner said on Thursday. The company has 37 IKEA stores in China, out of a total of 537 locations worldwide. Ingka Group overall saw 697 million visits to its IKEA stores in the 2023 financial year, up 7.4% from the previous year. The rate of increase was much higher in China, Brodin said, as stores reopened and shoppers returned. China's sheer size makes it a key opportunity, said Tolga Oncu, head of IKEA Retail at Ingka Group.

Persons: Yves Herman Acquire, Jesper Brodin, Brodin, Ingka, Tolga Oncu, Oncu, Helen Reid, Josie Kao Organizations: REUTERS, IKEA, Ingka Group, Ingka, Reuters, IKEA Retail, Thomson Locations: Brussels, Belgium, Sweden, China

☆ ADL leader slams corporation's response to terror attacks on Israel
▼ + stars: | 2023-10-11 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Anti-Defamation League CEO Jonathan Greenblatt slammed Corporate America’s response to the terror attacks on Israel as “disappointing at best, disastrous at worst.”“We have arguably the most vibrant commercial sector on the planet. Where were you when your Jewish employees needed you?” Greenblatt said of the CEOs. Greenblatt credited JPMorgan Chase CEO Jamie Dimon, Hewlett Packard Enterprise CEO Antonio Neri and other executives who condemned the terror attacks and pledged solidarity with the people of Israel. “In America, your Jewish employees are dealing with something that is qualitatively and quantitatively different than any time in living memory. “This is not just some far-off conflict – though that would be enough for CEOs to speak out,” Greenblatt said.

Persons: Jonathan Greenblatt, ” Greenblatt, “, George Floyd, Izzat, Greenblatt, Chase, Jamie Dimon, Antonio Neri, ” Dimon, ” Kathryn Wylde, Martin Luther King, Jr, ” Organizations: New, New York CNN, Defamation, CNN, ADL, Israeli Defense Forces, Hamas, Wednesday, Hewlett Packard Enterprise, US Chamber of Commerce, Business, “, World Trade, Partnership, Companies, Accenture, Adidas, Eagle, NASCAR, NBA, New York Locations: New York, Israel, Kfar Aza, Israeli, York, New York City, United States, France, United Kingdom

☆ CEOs call on Harvard to name students linked to statement blaming Israel for Hamas attack
▼ + stars: | 2023-10-11 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

The CEO of Pershing Square Capital Management said he wanted to ensure his company and others don’t “inadvertently hire” any students belonging to Harvard groups that signed the letter. Following a backlash to the statement, some of the student groups have since withdrawn their endorsements. Others warn that naming the students whose groups backed the statement could put the students in harms way and did not account for differences of opinion within the student groups. But Harvard President Claudine Gay issued a statement Tuesday saying “no student group – not even 30 student groups – speaks for Harvard University or its leadership.”Harvard student groups’ statementThe controversy comes in response to a joint statement released by a coalition of Harvard student groups following the attacks by Hamas that have killed more than 1,000 Israelis and at least 14 American citizens. Another Harvard student, Danielle Mikaelian, said she resigned from the board of a group that signed the statement on Israel and didn’t have a chance to read it until it was too late.

Persons: Bill Ackman, ” Ackman, don’t “, “, Jonathan Neman, Ackman, Stephen Sullivan, Claudine Gay, –, ”, ” Jake Wurzak, shouldn’t, ” Wurzak, Mohini Tangri, Tangri, Danielle Mikaelian, didn’t, ” Mikaelian, Israel “, Winston, Strawn, “ Winston, Larry Summers, Summers, Bill Clinton, ” Gay, Jonathan Greenblatt, CNN’s Kristina Sgueglia, Sabrina Shulman Organizations: New, New York CNN, Billionaire, Harvard University, Pershing, Capital Management, Harvard, Dovehill Capital Management, Forbes . Harvard University, ” Harvard, Harvard Palestine Solidarity Groups, Harvard Crimson, Harvard Undergraduate Nepali Student Association, Crimson, Harvard Law School, NYU Student Bar Association, NYU, Winston, Defamation League, ADL, Accenture, Adidas, NBA, CNBC Locations: New York, Israel, Gaza

☆ Nike reigns supreme among teen shoppers. Here are the other brands they love the most
▼ + stars: | 2023-10-10 | by ( Courtney Reagan | ) www.cnbc.com time to read: +4 min

Interestingly, male teens report spending 11% more than last fall, while females are spending 8% less. When teens are spending, 37% said they are using funds earned from a part-time job, while 62% said parents contribute to spending. Clothing and apparel spending fallsTeens are spending 4% less on clothing compared to last year, down to $563 per year. After Nike, American Eagle and Lululemon are the second- and third-most preferred brands among teens, the same as in the spring. Converse held the spot for the second-most favorite brand behind Nike but dropped in market share by 1 percentage point.

Persons: Joe Raedle, Piper, Shein, Converse, Temu, Polly Organizations: Nike, Getty, Adidas, Ross Stores, Nordstrom, Target, Walmart Locations: Miami Beach , Florida, U.S, Maxx, Australia

☆ Kanye West seemingly wants to trademark the term 'YEWS' for use in gambling, finance, restaurants, and more
▼ + stars: | 2023-10-07 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Kanye West's law firm filed 26 requests with a Californian court to trademark the term "YEWS." The applicant is seeking exclusive rights to the term in sectors like finance and fashion. AdvertisementAdvertisementKanye West, now known as Ye, is seemingly trying to secure trademark rights for the use of the term "YEWS" across a range of sectors. Twenty-six filings were made in California on October 2 to the US Patent and Trademark Office (PTO) to trademark the term. AdvertisementAdvertisementAccording to the documents, shared in full by Gerben Law, Ye is seeking exclusive rights to the "YEWS" trademark for use on everything from clothing to restaurants and gambling.

Persons: Kanye, —, Ye, Weeks Nelson, Gerben Law, Jonathan Leibson, Adolf Hitler, Hitler, Alex Klein, Klein Organizations: Service, Office, Paha Inc, Gerben, Adidas, Twitter Locations: California

☆ How Karol G went from a Latin music star to a fashion icon
▼ + stars: | 2023-10-06 | by ( Robb Young | Graciela Martin | ) edition.cnn.com time to read: +24 min

With 66 million followers on the platform, Karol G ranks 70th in terms of follower count but 6th when it comes to engagement rates. But the label’s enthusiasm for its Karol G campaign a half-year after its release is telling, nonetheless. Karol G attends the #BoF500 Gala during Paris Fashion Week at Shangri-La Hotel Paris on September 30, 2023 in Paris, France. By the time Karol G entered the scene in a big way, fashion, luxury and sportswear giants were still warming up to her male counterparts. People aren’t as fixated on that anymore.”Indeed, it is the shift in attitudes toward language that appears to have helped Karol G secure the Loewe deal.

Persons: Karol G, Jonathan Anderson, Karol’s, Shakira, — Karol G, Provenza, “, ”, Nicki Minaj —, Karol, Karol G's, she’s, Lea Colombo, “ Karol G, Charlie Smith, Loewe, couldn’t, Ricky Martin’s, hasn’t, “ I’ve, Anderson, Karol G’s, ” Karol G, Christopher Polk, SocialBook, Kim Kardashian, Julian Martinez, ” Martinez, “ Karol, Miu, Roberto Cavalli, Gina Ferazzi, Loewe’s Smith, Jacquemus, Barbie, Emilio Pucci, —, Vetements, Rick Owens, Pascal Le Segretain, Maykol Sanchez, Spotify’s, Yankee’s, Don Omar’s, Maluma, J, Nicky Jam, . Ivy Queen, Jennifer Lopez, Shakira —, Burberry —, Becky G —, Karol —, Ovy, Bad Bunny, Rich Fury, Karla Martínez, There’s, Leila Cobo, Billboard’s, ” Cobo, aren’t, “ Jonathan, ” Karol, Carolina Giraldo Navarro, Colombia’s, J Balvin, Cobo, She’s, ” she’s, haven’t, ’ ” Karol G, Alexander Tamargo, Nina García, Elle, García, ” García, I’ve, I’m, it’s, Brett Alan Nelson, I’d Organizations: The, Fashion, CNN, —, Billboard, MTV, New York City’s Rockefeller Center, Variety, Los Angeles Times, Getty, Brands, Los, Paris, Spotify, Reebok, Umbro, Dolce, Gabbana, Nike, Guess, Adidas, Trailblazers, Burberry, Levi’s, Kappa, Puerto Rican, Pew Research Center, Limits, Vogue Mexico, reggaeton’s, Loewe, Carolina, Puerto Locations: Spanish, ”, Latin America, New York, Newark , New Jersey, California, Versailles, bejeweled, Paris, France, Spain, Italy, Germany, Canada, America, Balmain, Barcelona, Rosalía, American, Panama, Jamaica, Puerto Rico, Dominican, Caribbean, Medellín, Colombia, Puerto, Miami, Mexico City, Buenos Aires, Santiago, Chile, Austin, Austin , Texas, Mexico, North America, Europe, Dubai, Singapore, Nairobi, Puerto Rican, Sera, Miami , Florida, Colombiamoda

☆ Puma tumbles as analysts flag possible earnings disappointment
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] A pair of Puma sports shoes is shown at an event in Berlin, Germany February 21, 2019. Analysts at brokerage Stifel said Puma's third-quarter earnings before interest and tax might decline by a low double-digit rate compared with last year, a worse performance than consensus expectations for a 6% decline. The drop in Puma's shares put them on course for their worst day since March 2020. Puma said it was fully on track to achieve its full-year guidance, while declining to comment on its share price movement. Puma is targeting EBIT of between 590 million euros and 670 million euros for 2023, from 641 million euros in 2022.

Persons: Annegret, Stifel, Puma, overstock, Jefferies, Danilo Masoni, Helen Reid, Linda Pasquini, Alexander Huebner, Susan Fenton, Jane Merriman Organizations: REUTERS, Nike, Adidas, Puma, RBC, Thomson Locations: Berlin, Germany, North America, China, U.S, London, Gdansk, Munich

“This whole process has been like an emotional rollercoaster,” Beckham said of the “Beckham” series in an exclusive video interview with The Associated Press. Despite the full support of Manchester United fans and club manager Sir Alex Ferguson, Beckham said there wasn’t the same knowledge or concern about mental health that exists now. It had always been his father’s dream that his son play in the premiership for Manchester United and it soon became their shared dream, turned reality. She was already a global superstar as “Posh Spice” and he was a rising talent with Manchester United. “Do I wish things hadn’t happened?

Persons: — David Beckham, ” Beckham, Beckham, “ I’ve, “, hadn’t, ”, Diego Simeone’s, David Gardner, Sir Alex Ferguson, ’ ”, I’d, ‘, “ I’m, Ferguson, Cruz, Harper Seven, Victoria Adams, Gary Neville, “ Beckham, weren’t, “ Brand Beckham Organizations: Netflix, Associated Press, Argentina, AP, Manchester United, League, Brooklyn, Real Madrid, Adidas, Armani, Inter Miami Locations: Argentina, London, Chingford , Essex, Hackney, Manchester, Romeo, America

☆ How Adidas Outran Nike With Its $500 ‘Super Shoe’
▼ + stars: | 2023-09-30 | by ( Trefor Moss | Rachel Bachman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/adidas-running-super-shoe-nike-cfdbd832

Persons: Dow Jones

☆ Nike shares jump on leaner inventory, better margins outlook
▼ + stars: | 2023-09-29 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

People visit the Nike store at 5th Avenue during the holiday season in New York City, U.S., December 9, 2022. The company had turned to steep discounting to clear the excess inventory, which had weighed on its margins in the past few quarters. Nike on Thursday estimated a 100 basis point boost to current-quarter gross margin while maintaining its annual forecasts. The jump also lifted shares of Adidas, Puma and JD Sports (JD.L) between 5%-7%. Still, demand in North America remained under pressure, leading Nike to post a slight miss on first-quarter revenue.

Persons: Eduardo Munoz, Drake MacFarlane, David Swartz, Simeon Siegel, Piper Sandler, Abbie Zvejnieks, Savyata Mishra, Deborah Sophia, Sriraj Organizations: Nike, REUTERS, Science, Rivals, Adidas, Puma, Morningstar, BMO, JD Sports, Dick's Sporting, Thomson Locations: New York City, U.S, China, North America, Bengaluru

"Matched with the NFL, which we all know is driving the biggest TV ratings and interest across the entire sports landscape... Swift's appearance also preceded a nearly three-fold increase in sales in a 24-hour window for Chiefs home games on StubHub. [1/2]Sep 24, 2023; Kansas City, Missouri, USA; Taylor Swift reacts while watching the Kansas City Chiefs vs Chicago Bears game during the first half at GEHA Field at Arrowhead Stadium. "Taylor Swift being at NFL games is gold dust for the league," Scott said. But Swift, whose fame far eclipses that of Kelce's, brings a megawatt starpower that is virtually unprecedented - even in the NFL.

Persons: Taylor Swift, Travis Kelce, Swift, Travis Kelce's, Donna, Adam Budelli, Aaron Rodgers, Roku, Denny, Tom Scott, Scott, Joe Namath, Pro Bowler, Kelce, Amy Tennery, Helen Reid, Bill Berkrot Organizations: Super Bowl, Kansas City Chiefs, NFL, National Football League, Chicago Bears, Chiefs, Jets, Reuters, Bears, Arrowhead, Trippant, Philadelphia Eagles, Miami Dolphins, of Fame, Sports, Super, Apple, Thomson Locations: New York, East Rutherford , New Jersey, Kansas City, Kansas City , Missouri, USA, London, Frankfurt

☆ The Life Cycle of New York Galleries
▼ + stars: | 2023-09-28 | by ( M.H. Miller | ) www.nytimes.com time to read: +10 min

The Life Cycle of New York Galleries What does being the center of the art world do to a neighborhood? BROOME STREET GRAND STREET WOOSTER STREET GREENE STREET MERCER STREET CROSBY STREET HOUSTON STREET CANAL STREET WEST BROADWAY BROADWAY LAFAYETTE STREET PRINCE STREET SPRING STREET opacity=0PRE-1950SIn the early 20th century, the area south of Houston, north of Canal, bounded roughly by West Broadway on one side and Lafayette/Centre Street on the other, was notorious for sweatshops and factory fires. Photo: Bob Adelman1968In 1968, a group called the SoHo Artists Association formed in order to help legalize loft living in manufacturing buildings. The reputations of these dealers helped cement the neighborhood as the center of the New York art world, though SoHo remained, in some ways, sparse. In 1996, the SoHo Grand Hotel opened on West Broadway (the Mercer would open the following year).

Persons: Edward Cavanagh Jr, Robert Moses, Bronx . Walter Albertin, Little Italy —, Jane Jacobs, Fred W, “, Chester Rapkin, Houston —, Allan Tannenbaum, Donald Judd, James Rosenquist, Julie Finch, Frank Stella, John Chamberlain, Claes Oldenburg, Bob Adelman, John Dominis, Paula Cooper, Alan Shields, Judd, Leo Castelli, André Emmerich, Ileana Sonnabend, John Weber, Sam Falk, Sol LeWitt, — Carol Goodden, Tina Girourard, Gordon Matta, Clark —, Sandra Zalman, ” Gordon Matta, Clark’s “ Matta Bones, Clark, Andrew Sarchiapone, Cooper, Moira Hodgson, Pepe Diniz, Peter Gabriel, Mick Jagger, Keith Haring, Tony Shafrazi, Martin Scorsese, — Brooke Alexander, Gruenebaum, Baskerville, Watson, Victoria Munroe, Witkin, ’, Larry Gagosian, Lee B, Ewing, Solomon R, Bill Cunningham, Moss, Mercer, Prada, Michael Moran, OTTO, Bloomingdale’s, Jeffrey Isaac Greenberg, Hauser & Wirth, Marc Payot Organizations: STREET WOOSTER, STREET, STREET CROSBY STREET, WEST BROADWAY BROADWAY LAFAYETTE STREET PRINCE, West Broadway, Cross, Bronx ., of Congress, Interim, Lower, Manhattan, Authority, City Club of New, Houston, Fairweather, James Rosenquist Foundation, ARS, SoHo Artists Association, Student, Broadway, New York Times, New, New York City Landmarks Preservation, Vox Media, New Museum, “, The Times, The New York Times, Guggenheim Museum, Guggenheim, Guggenheim SoHo, Voice, Women’s Action Coalition, Boys ’, Hauser &, Wooster, Adidas, Wirth’s, Hauser, Wirth Locations: Soho, Houston, Canal, Lafayette, Manhattan, Bronx, Hell’s, Little Italy, Lower Manhattan Expressway, City Club of New York, New York City, , New York, Vietnam, SoHo, York, , New York City , New York, Wooster, New York, French, Sixth, Prince, West Chelsea

☆ H&M blames warm weather for September sales slide
▼ + stars: | 2023-09-27 | by ( Helen Reid | トムソンロイター | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

H&M, whose biggest rival is Zara owner Inditex (ITX.MC), said September sales would be down 10% year-on-year measured in local currencies. That compares with Inditex reporting sales between Aug. 1 and Sept. 11 that were up 14%. Operating profit in the Swedish group's third quarter jumped to 4.74 billion crowns ($431 million) from a year-earlier 902 million. The year-ago figure included a one-off cost of 2.1 billion crowns for the group's exit from Russia, which also accounted for four percentage points of the 10% September sales decline. H&M announced a share buyback programme starting on Wednesday, planning to buy back up to 3 billion crowns of stock by March 31 next year.

Persons: サマリー, Inditex, Vera Diehl, Nicolas Champ, LSEG, Richard Chamberlain, Anna Ringstrom, Helen Reid, Jan Harvey, Mark Potter Organizations: Union Investment, Barclays, RBC, HK, Tmall Locations: STOCKHOLM, Zara, Swedish, Russia, JD.com, China's Xinjiang, Alibaba's

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