Nike Inc.’s results surpassed analysts’ expectations as its new chief executive officer’s turnaround strategy begins to take hold.
Nike
Revenue fell 9% to $11.3 billion for the quarter ended Feb. 28. That’s better than the 11% drop that Wall Street predicted.
Nike shares rose 4% at 4:26 p.m. in after-hours trading in New York. The stock is down 5% this year through Thursday’s close, a slightly steeper drop than the S&P 500 Index.
CEO Elliott Hill, a longtime Nike executive who came out of retirement to take the role in October, is attempting to guide the company back to growth after a difficult year of falling sales and corporate layoffs. He’s reshaping Nike by refocusing on sports and mending relationships with its retail partners.
Nike is in the midst of clearing out stale inventory through heavy discounting, a consequence of fading demand for some of its biggest sneaker franchises, including Air Force 1s and Dunks. Inventory fell 2% in the period.
Nike is trying to stage its comeback against a backdrop of weak consumer spending and fallout from President Donald Trump’s escalating trade war. China also remained a weak spot, with sales missing analyst expectations amid a prolonged consumer slump in the market. But performance in North America and the region that includes Europe, Africa and the Middle East came in better than expected.
In December, Hill outlined a plan to invigorate Nike by reorganizing around departments that focus on sports such as running, basketball and soccer. The company is also reallocating marketing funds from clicky digital ads to more anthemic sports campaigns. It spent 8% more on marketing in the latest quarter, according to the statement.
In February, the brand announced a new line called NikeSkims, a partnership with Kim Kardashian’s underwear brand. Nike also aired its first Super Bowl commercial in nearly three decades.
Hill has reshuffled his senior management ranks as well, naming new heads of several departments including human resources, legal and sports marketing. Nike’s top strategy and communications executives are exiting the company, the company said in a memo this week.
Fashion and homewares brand La Redoute has launched its latest UK collaboration with the brand’s newest ambassador, author, podcaster and columnist Louise Thompson.
The reality show star (she originally appeared in Made In Chelsea) has become a popular lifestyle influencer in recent years.
The range brings together Thompson’s “unique aesthetic to life through an exclusive edit, blending effortless elegance with her distinct personal touch”.
And for an edit, it’s extensive, featuring 100 pieces across fashion and interiors offering both wardrobe essentials and homewares pieces.
Of the spring/summer fashion edit, there are 26 curated pieces “that transition through the seasons”. From pastel knit jumpers to blazers and ballet-style flats, and we’re told “each item reflects Louise’s effortless yet refined approach to dressing”.
The interiors edit comprises of over 70 homewares pieces, with staple wooden furniture, soft furnishings and decorative accents.
Sarah Link, marketing director at La Redoute, said: “Louise’s passion for style and clean-cut aesthetic is something which aligns perfectly with La Redoute’s ethos, which makes this collaboration such an idealistic one.”
The La Redoute x Louise Thompson edit is available online, with prices starting from £14.99.
Returning for a sixth consecutive year, both Westfield London and Westfield Stratford City malls become the capital’s leading destination for the annual London Eid Festival.
Europe’s largest Eid al-Fitr celebration, it’s taking place until 6 April at Westfield London, followed by Westfield Stratford City (11-13 April), with the events expected to draw over 300,000 visitors across both weekends – “rivalling the footfall typically seen on Boxing Day at the centres”, operator Unibail-Rodamco-Westfield said.
Organised by Westfield Rise, its in-house media, brand partnerships, and experiential agency, the events span 4.2 million sq ft across indoor and outdoor event spaces. The festival features a mix of live entertainment, immersive brand activations, food markets, and international retailers from Turkey, Malaysia, Dubai, and beyond.
Westfield Square will host a main entertainment stage, showcasing appearances from community celebrities and VIPs. Inside, visitors can explore over 80 international concession stands across The Atrium at Westfield London and The Arena at Westfield Stratford City, offering everything from modest fashion and boutique gifts to children’s books and homeware.
Melanie Lalou, director of Westfield Rise, Northern Europe, said: “The London Eid Festival is a prime example of how Westfield Rise connects brands with communities through immersive activations. Our event spaces host everything from interactive pop-ups to large-scale cultural celebrations, with live entertainment, vibrant food markets, and striking creative displays across our digital OOH network. This festival highlights the power of experiential engagement, bringing brands and diverse audiences together in a meaningful way.”
Fasahion/lifestyle retail group Matalan has launched a 27-piece collection in collaboration with fashion brand Little Mistress and TV personality Vicky Pattison.
She’s only the latest in a series of reality TV show stars to link up with a retailer on a signature collection. She rose to prominence originally on the Geordie Shore show.
We’re told it’s a collection that brings together “the best of on-trend designs with Matalan’s signature commitment to great quality fashion at affordable prices”.
From dresses and tailored jumpsuits to casual blouses and statement skirts, the collection covers a variety of day-to-night styles, “reflecting Pattison’s personal style”. It comes in “bold hot pink, fiery red, and playful florals”.
With prices starting from just £18 and in sizes from 8-22 the collection is now available in-store and online.
Matalan’s buying director, Laura Wiard said: “The collection reflects the latest trends, while ensuring we stay true to Matalan’s mission of providing stylish fashion at accessible prices.”
Mark Ashton, founder and MD at Little Mistress, added: “We’ve worked hard to create a collection that’s not only fashionable and versatile but also accessible for everyone. It’s all about empowering women to feel their best, no matter the occasion. We’re confident that this collection will resonate with customers and help them express their own unique style.”