Core Insights - Deckers Outdoor Corporation (DECK) reported strong third-quarter fiscal 2026 results, with both revenue and earnings exceeding estimates and showing year-over-year growth, leading to an increase in fiscal 2026 guidance [1][9] Financial Performance - DECK's quarterly earnings were $3.33 per share, surpassing the Zacks Consensus Estimate of $2.77 and up from $3.00 in the prior year [2] - Net sales increased by 7.1% year over year to $1.96 billion, exceeding the consensus estimate of $1.88 billion; on a constant-currency basis, net sales grew by 6.8% [2] - Gross profit rose by 6.2% year over year to $1.17 billion, with a gross margin of 59.8%, down from 60.3% in the previous year but above the estimate of 57.4% [3] - SG&A expenses increased by 4% year over year to $557 million, representing 28.5% of revenues, a decrease of 80 basis points from last year [4] - Operating income was $614.4 million, an increase of 8.3% from $567.3 million in the prior year, with an operating margin of 31.4%, up 40 basis points [4] Brand Performance - HOKA brand sales grew by 18.5% year over year to $628.9 million, exceeding projections, driven by strong performance in both direct-to-consumer and wholesale channels [5] - UGG brand net sales increased by 4.9% year over year to $1.31 billion, surpassing estimates, with growth supported by effective inventory management and consumer engagement [6] - Other Brands saw a significant decline in net sales, down 55.5% year over year to $23.2 million, attributed to the phase-out of Koolaburra's standalone operations [7] Channel and Geographic Insights - Wholesale net sales increased by 6% year over year to $864.6 million, while direct-to-consumer net sales rose by 8.1% to $1.09 billion [10] - Domestic net sales grew by 2.7% to $1.20 billion, while international net sales increased by 15% to $756.7 million [10] Future Outlook - For the fourth quarter of fiscal 2026, DECK anticipates mixed operating conditions, with HOKA expected to drive growth despite higher tariffs impacting gross margins [12][15] - HOKA revenues are projected to grow by 13-14% year over year, while UGG revenues are expected to remain flat compared to the prior year [13][14] - The company raised its full-year outlook for fiscal 2026, expecting net sales of $5.40-$5.425 billion, with HOKA anticipated to deliver mid-teens revenue growth and UGG expected to grow at a mid-single-digit rate [17] - The gross margin for fiscal 2026 is projected at 57%, with SG&A expenses expected to represent 34.5% of revenues [18] - Earnings per share are expected to be in the range of $6.80-$6.85, indicating a 7-8% increase from the previous year [19]

Core Insights - Carter's, Inc. (CRI) has faced a decline in net sales within its U.S. Wholesale segment during Q3 2025, primarily due to reduced demand for the Simple Joys brand on Amazon [1][9] - The company perceives the slowdown of Simple Joys as a structural shift rather than a temporary issue, prompting a strategic realignment with Amazon [2][9] - Management anticipates a low single-digit decline in wholesale sales for Q4 2025, although growth in other brands is expected to partially offset this decline [5][9] U.S. Wholesale Segment Performance - The U.S. Wholesale segment's decline is attributed to lower sales of the Simple Joys brand, which has been impacted by Amazon's new brand management strategy [1][2] - The company expects department stores to contribute less than 20% of total Wholesale channel sales in 2025, indicating a shift towards a more diversified wholesale mix [4] Strategic Adjustments - Under the revised strategy, core brands such as Carter's, OshKosh, Little Planet, and Otter Avenues are expected to gain more prominence [3] - The company plans to enhance collaboration with Amazon and share detailed growth initiatives moving forward [3] Financial Outlook - The Zacks Consensus Estimate indicates a significant year-over-year decline in earnings for CRI, with expected decreases of 44.4% for 2025 and 28.5% for 2026 [15] - CRI's shares have increased by 36.3% over the past six months, contrasting with a 17.7% decline in the industry [6]

Core Insights - The retail industry is facing significant challenges, with many established brands struggling to adapt to changing consumer behaviors and the rise of e-commerce [3][17][18] - Lands' End has entered a joint venture with WHP Global, acquiring a 50% controlling stake for $300 million, which aims to strengthen its balance sheet and leverage WHP's resources for growth [7][8][9] Group 1: Retail Industry Challenges - Longtime retail brands are disappearing, affecting personal routines and local economies [1][2] - Cautious consumer spending has weakened sales and reduced foot traffic across many retail chains [3] - The rise of e-commerce has forced traditional retailers to rethink strategies and close underperforming stores [3][17] Group 2: Lands' End's Strategic Moves - Lands' End operates about 26 stores and has evolved from a mail-order company to a multi-category retailer [6] - The joint venture with WHP Global will allow Lands' End to repay approximately $234 million in term loans and focus on long-term brand growth [8] - The company has faced sales declines, with a 0.3% decrease in net revenue to $317.5 million in Q3 of fiscal 2025, including a 3.4% drop in U.S. e-commerce sales [13] Group 3: Store Closures and Market Impact - Lands' End has closed multiple locations in 2025 and has scheduled further closures for 2026 as part of a strategy to streamline operations [14][15] - The decline of physical stores can lead to reduced consumer access and create "retail deserts" in smaller towns [20] - The retail industry is a major employer in the U.S., contributing $5.3 trillion to GDP and supporting over 55 million jobs [20][21]

Market Overview - The broader equity markets have remained resilient despite President Trump's tariff threats, trading in record territory, primarily driven by a tech rally [1] - Blue-chip tech firms have shown solid gains due to a positive start to the earnings season and advancements in AI monetization [1] - The Federal Reserve's decision to maintain interest rates in the range of 3.5% to 3.75% has also supported the uptrend, reflecting economic strength and stable job market conditions [1] Investment Opportunities - Investors are advised to focus on "cash cow" stocks that provide higher returns, with an emphasis on identifying stocks with high return on equity (ROE) [2] - High ROE indicates that companies are effectively reinvesting cash at a high rate of return, making them attractive investment options [3][4] - Stocks identified with high ROE include Arista Networks, Corning, Banco Bilbao Vizcaya Argentaria, The TJX Companies, and TE Connectivity, all of which have strong fundamentals and consistent earnings surprises [2][8] Screening Parameters - The primary screening parameters for identifying cash-rich stocks include cash flow greater than $1 billion and ROE exceeding the industry average [5] - Additional metrics used for screening include price/cash flow ratio lower than the industry average and return on assets (ROA) greater than the industry average [6] - A five-year EPS historical growth greater than the industry average and a Zacks Rank of 1 or 2 are also considered to ensure strong performance [7] Company Profiles - **Arista Networks**: Engaged in cloud networking solutions with a long-term earnings growth expectation of 20.1% and a trailing four-quarter earnings surprise of 10.2% [9][10] - **Corning**: Focuses on advanced glass technologies with a long-term earnings growth expectation of 18.8% and a trailing four-quarter earnings surprise of 4.4% [11] - **Banco Bilbao**: Provides a range of banking services with a long-term earnings growth expectation of 12% and a trailing four-quarter earnings surprise of 5.7% [12] - **The TJX Companies**: A leading off-price retailer with a long-term earnings growth expectation of 10.2% and a trailing four-quarter earnings surprise of 5.5% [13][14] - **TE Connectivity**: Designs connectivity solutions with a long-term earnings growth expectation of 12% and a trailing four-quarter earnings surprise of 7.5% [15][16]

Updated 5:20 p.m. ET Jan. 29 LONDON — H&M Group might have had a modestly successful fiscal 2025, but the feel-good factor has already faded, with the new year starting on a low with lackluster demand in Europe and tariffs in the U.S. More from WWD H&M said sales in the fiscal first quarter ending Saturday are expected to decrease by 2 percent in local currencies. That continues a slump that started when strong sales during the Black Friday rush led to “subdued demand in a number of markets” in December ...

Core Insights - The Swedish fast-fashion retailer reported a quarterly earnings beat, indicating strong financial performance driven by well-received collections and effective cost management [1] Company Performance - The company experienced a boost in profit due to successful product collections and tight control over costs [1]

Financial Data and Key Metrics Changes - In 2025, the company achieved organic net revenue growth of 7%, with total company revenues increasing by 5% in Q4, following an 8% growth in the previous year [4][6][20] - Gross margin for Q4 was 60.8%, contracting by 100 basis points year-over-year, primarily due to tariffs [21] - Adjusted EBIT margin contracted by 100 basis points to 12.1% in Q4, influenced by tariffs and higher distribution costs [23] Business Line Data and Key Metrics Changes - The Levi's brand grew by 7% in 2025, with direct-to-consumer (DTC) sales increasing by 11%, now comprising approximately half of total business [5][12] - Women's business accelerated by 11%, while men's grew by 5% [6] - The wholesale channel grew by 4%, supported by an expanded lifestyle assortment [5] Market Data and Key Metrics Changes - The Americas net revenues increased by 2%, with U.S. DTC growing by 6% [24] - Europe net revenues accelerated by 10% in Q4, driven by strong performance in the U.K. and Germany [25] - Asia net revenues grew by 4%, with key markets like Japan and Turkey showing double-digit growth [26] Company Strategy and Development Direction - The company is transitioning to a DTC-first model, focusing on becoming a head-to-toe denim lifestyle retailer [4][12] - Plans to expand the premium segment through the Blue Tab collection, which has shown strong consumer response [11][74] - The company aims to mitigate tariff impacts through pricing actions and operational efficiencies [19][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a dynamic global environment, emphasizing the strength of the brand and its connection with consumers [16][34] - For 2026, the company expects organic net revenue growth of 4%-5%, with a reported growth of 5%-6% [26][30] - The company anticipates continued margin expansion driven by higher revenue flow-through and strategic investments [19][30] Other Important Information - The company returned $55 million to shareholders in Q4, with a total of $363 million for the year, including a 7% increase in dividends [24] - The company is leveraging AI to enhance online shopping experiences and improve operational efficiencies [14][15] Q&A Session Questions and Answers Question: About gross margins and guidance - Management acknowledged a history of consistent gross margin expansion and discussed the impact of tariffs and pricing actions on future margins [37][39] Question: Mid-single-digit organic outlook compared to the denim category - Management expressed confidence in outperforming the denim category, highlighting the successful transition to a head-to-toe lifestyle brand [46][49] Question: Direct-to-consumer channel margins - Management discussed the potential for margin growth through sales productivity and improved retail excellence [59][61] Question: European market trends and Blue Tab impact - Management reported strong growth in Europe, particularly in the U.K. and Germany, and highlighted the potential of the Blue Tab collection in the premium market [68][74] Question: Supply chain improvements and go-to-market efficiency - Management noted progress in shortening lead times and enhancing global consistency in product development [78][82]

Core Insights - American Eagle Outfitters (AEO) is discontinuing its third-party logistics operations by shutting down its Quiet Logistics division, which was acquired for approximately $360 million over four years ago [1][2]. Group 1: Acquisition and Operations - The acquisition aimed to bring AEO's supply chain in-house, allowing for next-day and same-day delivery for its brands and third-party merchants [2]. - AEO had previously acquired AirTerra to enhance its delivery and fulfillment capabilities, which were integrated into the Quiet Logistics business [2]. Group 2: Future Plans and Impact - The company plans to cease Quiet services for third-party customers in the coming months and will close fulfillment centers in Boston and Dallas by the first half of 2026, while keeping the Atlanta center operational for AEO's distribution needs [3]. - AEO's spokesperson indicated that this strategic decision will allow the company to focus on growth and its portfolio of lifestyle brands, while also assisting current customers in transitioning to new providers [4]. Group 3: Initial Success and Challenges - The collaboration initially provided promising services, including a national delivery network and a universal delivery label for shipping across 40 carrier networks [5]. - Despite early successes, the strategic shift indicates challenges in maintaining the logistics operations as initially envisioned [4].

奖项将由时尚行业资深人士组成的专业评审团评选产生。最终获奖者可获15万欧元奖金及为期一年的定 制化导师指导，其设计系列将在全球精选H&M门店及线上平台发售；8位决赛入围者将各获1万欧元奖 金。 此次重启同步启动全新奖学金计划，H&M与中央圣马丁学院合作，为一名潜力设计师提供全额学业资 助。同时，大奖革新导师支持模式，将在官方门户网站上线系列数字时尚教程，覆盖作品集创作、院校 申请等内容，以开源资源赋能全球创意从业者。 1月28日，H&M宣布重启H&M设计大奖，为全球潜力设计新锐，为兼具可持续理念、创新力与技艺的 新生力量提供资金及系统化导师辅导。 据悉，本届大奖覆盖25个国家超60所院校的本硕学生，首次新增8国院校参与，覆盖范围为历届最广， 多元化水平进一步提升。 ...

Core Viewpoint - American Eagle Outfitters (AEO) is shutting down its logistics subsidiary, Quiet Logistics, raising concerns about the sustainability of the supply chain-as-a-service model for retailers [1][2][3] Company Summary - AEO is winding down Quiet Logistics, which was acquired for $360 million in 2021, to focus on its core retail business and growth [2][3] - The decision to close Quiet Logistics will be implemented over the next several months, with AEO assisting current customers in transitioning to new providers [3] - Quiet Logistics has previously served notable clients such as luxury brand Perfect Moment and Baggu [3] Industry Insights - Experts suggest that AEO's move reflects a broader trend where retailers are realizing the challenges of monetizing their supply chains while managing their own fulfillment needs [4][5] - The closure of Quiet Logistics follows a previous facility shutdown in St. Louis, indicating potential operational difficulties [4] - The logistics market is pushing companies to focus on their own volume rather than serving third-party brands, as highlighted by industry commentary [5]