Nike’s breathing new life into athleisure and its new 24.7 apparel collection comes with a clear dual vision ensuring there’s still a strong athletic element via the backing of world-class British sprinter Dina Asher-Smith.
And that new vision? “From sport to life. From mindset to movement. From the daily grind to daily comfort. Nike exists to serve athletes who bring the same energy and focus to everything they do — and need apparel that can keep up, around the clock”, says Nike.
Big statements need backing up so the US sportswear giant’s new range is designed to support the athlete’s “complete lifestyle, redefining sport style with an elevated, polished look”.
It blends “life and sport in men’s and women’s apparel that’s versatile and distraction-free, tailored for all-day comfort, style and function”.
With it comes the usual raft of Nike advancements, unveiling two new technical materials that pair with the brand’s Dri-FIT technology “to offer a new standard of comfort in elevated, polished athletic style”.
ImpossiblySoft is a “refined, Spacer-knit” fabric with four-way stretch for comfort with a luxurious feel. The material’s featured in the collection’s women’s and men’s half-zip and crew-neck silhouettes, as well as a women’s jogger and men’s pant.
Meanwhile, PerfectStretch is a tailored, four-way stretch fabric that delivers “comfort and a polished look and feel”. The material is featured in the pleated skirt, wide-leg pant and woven shirt for women, and chino and five-pocket pant for men.
Pieces from the collection come with locker loops inspired by gear hung to dry in the locker room and internal, heat-pressed product tags featuring the brand’s Total Orange stripe.
Women’s pieces come in Western (2XS – 2XL) and Asian (XS – 2XL) sizing, and men’s pants will be available in numeric sizing with slim and standard styles.
Already available online, it launches at selected retail locations on January 30.
Deckers Outdoor on Thursday beat third-quarter sales estimates on robust holiday demand for its Hoka running shoes, but an in-line annual forecast caused the footwear maker’s shares to tumble 17% in extended trading.
Hoka shoes with their oversized soles have been gaining market share from brands such as Nike in the sportswear category. The brand, which retails for up to $300 in the United States, have also enjoyed full-price sales.
This drove up the company’s third-quarter revenue by 17% to $1.83 billion, beating analysts’ average estimate of $1.73 billion, according to data compiled by LSEG. Deckers also raised its annual net sales forecast for a second time this year.
“The guidance looks pretty conservative and considering the beat, it’s bit of a negative read into the out quarter,” said Drake MacFarlane, analyst at MScience.
The popularity of the Hoka shoes and the success of the company’s Ugg boots and sandals has helped it post double-digit revenue growth for nearly seven quarters.
The company now expects annual net sales to increase about 15% to $4.9 billion, compared with its prior expectation of about 12% growth to $4.8 billion. Analysts estimated an increase of 14.9% to $4.93 billion.
Deckers expects annual earnings per share of $5.75 to $5.80, compared with its prior forecast of $5.15 to $5.25.
Amazon.com is increasing its advertising on billionaire Elon Musk’s social media platform X, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
The major shift comes after the e-commerce giant withdrew much of its advertising from the platform more than a year ago due to concerns over hate speech.
In 2023, Apple also pulled all of its advertising from X and has recently been in discussions about testing ads on the platform, the report said.
Several ad agencies, tech and media companies had also suspended advertising on X following Musk’s endorsement of an antisemitic post that falsely accused members of the Jewish community of inciting hatred against white people.
Monthly U.S. ad revenue at social media platform X has declined by at least 55% year-over-year each month since Musk bought the company, formerly known as Twitter, in October 2022. He had acknowledged that an extended boycott by advertisers could bankrupt X.
Musk has become one of the most influential figures following President Donald Trump‘s re-election. He now leads the Department of Government Efficiency, which aims to cut $2 trillion in government spending.
Italian luxury goods group Salvatore Ferragamo said on Thursday its revenue dropped by 4% at constant currencies in the fourth quarter, flagging “encouraging results” from its direct-to-consumer sales which were overall flat in the last three months of the year.
Sales in the North American region, which accounted for 29% of total revenue, were up 6.3% in the quarter. However, the Asia Pacific area saw a 25% drop in revenue at constant exchange rates.
The slowdown in global demand for luxury goods, especially in China, has made the group’s turnaround harder. Overall preliminary revenues reached 1.03 billion euros in 2024, in line with analysts’ estimates, according to an LSEG consensus.
“January shows an acceleration in our DTC channel’s growth, albeit supported by the different timing of the Chinese New Year and a favourable comparison base versus last year”, Chief Executive Marco Gobbetti said in a statement.