Core Insights - Costco has launched an exclusive Nike collaboration sneaker, the Nike SB Dunk Low x Kirkland Signature Exclusive, which has generated significant excitement among customers and the resale market [1][11] - The sneaker was released at select locations in New York, Oregon, California, and Washington for a retail price of $134.99 [1] - The resale value of the sneaker has surged to approximately 200% or more, with prices ranging from $400 to $1,000 on platforms like StockX, eBay, and GOAT [2] Product Details - The sneakers feature Kirkland emblems and are designed in a gray colorway, resembling sweatshirt material, with an inner lining that mimics the texture of worn sweaters [5] - The design includes a label on the reverse side of the tongue that resembles Costco's in-store price tags, indicating a retail price of $135.00, which may suggest low stock availability [7] - The insole displays a large Kirkland logo, and the reverse side features an image of Costco's hot dogs with a price tag of $1.50 [9] Market Response - Over the weekend, 660 pairs of the sneakers were resold on StockX, with the highest sale reaching $600 [10] - The sudden release follows a previous leak of the collaboration, which had left fans speculating about various aspects of the product [11]

Core Insights - HOKA has launched the Speedgoat 7, an evolution of its popular trail running shoe, designed for performance across various terrains [1] - The Speedgoat 7 features upgraded traction, cushioning, and a new integrated gaiter attachment, enhancing its versatility and performance [1] - HOKA's "Run Wilder" campaign promotes the Speedgoat 7, showcasing its performance through real-world tests in Iceland [1] - The company is also hosting the HOKA Speedgoat 7 Vert Challenge, encouraging runners to achieve 7,000 feet of vertical gain in 30 days [1] Product Features - The Speedgoat 7 includes a super-critical foamed EVA midsole for enhanced energy return and a Vibram® Megagrip outsole with Traction Lugs for improved grip [1] - Key features also include updated lug orientation, a lightweight RPET woven textile upper, and a heel pull tab with reflective details [1] - The shoe is available in various sizes and colorways, with a retail price of $165 [1] Company Background - HOKA is a division of Deckers Brands, known for its innovative performance footwear and apparel [1] - The brand emphasizes constant innovation and collaboration with elite athletes to enhance its product offerings [1] - Deckers Brands has a history of over 50 years in building niche footwear brands into market leaders [1]

Core Insights - Birkenstock's growth strategy emphasizes expanding beyond sandals, targeting opportunities in the Asia-Pacific (APAC) region, direct-to-consumer (DTC) channels, and closed-toe shoes [1][4][5] Financial Performance - The company reported a revenue growth of 41% and EBITDA growth of 38% in the first two years post-IPO, with a deleverage of 55% [2] - Preliminary Q1 FY26 revenue reached EUR 402 million, reflecting an 18% increase on a constant-currency basis and an 11% reported growth [6][7] - Adjusted gross margin fell to 57.4%, down 290 basis points year-over-year, primarily due to foreign exchange and U.S. tariffs [11] Growth Strategy - Management reaffirmed a three-year plan targeting 13-15% constant-currency revenue growth, over 30% EBITDA margins, and approximately 15-17% EPS growth in constant currency [5][12] - The company aims to double APAC revenue by FY28, with expectations of about EUR 1 billion incremental revenue by fiscal 2028 compared to fiscal 2025 [14][18] Regional Insights - In the Americas, the company has around 10,000 distribution points and plans to open 30 additional stores, expecting over 10% growth in the region [15][16] - EMEA is characterized by a strong margin profile and growth opportunities in under-penetrated markets [17] - APAC is positioned in the premium luxury segment, with plans to open 70 stores and add 100 partner stores, expecting revenue to double over three years [18] Supply Chain and Capacity - The vertically integrated supply chain model supports a target of 10% annual unit growth, with significant investments in production facilities [19][20] - Expansion efforts are underway at key sites to enhance production capabilities and efficiency [21]

Core Viewpoint - Deckers has demonstrated solid growth despite skepticism from Wall Street, with significant stock performance since its IPO in 1993, showing a 9,660% increase, which is more than double that of Nike during the same period [1] Financial Performance - Deckers reported third-quarter revenue growth of 7.1% to $1.96 billion, surpassing the consensus estimate of $1.87 billion [5] - Hoka sales increased by 18.5% to $628.9 million, while Ugg sales rose by 4.9% to $1.31 billion [5] - Operating income grew by 8.3% to $614.4 million, resulting in an operating margin of 31%, and earnings per share (EPS) increased by 11% to $3.33, exceeding expectations of $2.76 [6] Market Dynamics - Deckers faced challenges from tariffs and weak consumer discretionary spending in the U.S., leading to a 46% decline in stock value over the past year [3][4] - However, the company showed improvement in both wholesale and direct-to-consumer channels, with domestic sales recovering to 2.7% growth and international sales up by 15% [7] Future Guidance - Management raised its fiscal year revenue guidance to $5.4 billion-$5.425 billion, with Hoka expected to grow by a mid-teens percentage and Ugg by a mid-single-digit percentage [8] - Projected EPS for the fiscal year is now $6.80-$6.85, up from previous guidance of $6.30-$6.39 [8] Valuation and Sentiment - Deckers' stock is currently trading at a price-to-earnings ratio of 17, which is attractive compared to the S&P 500's P/E ratio of around 28 [11] - The company has consistently beaten earnings estimates over the last four quarters, with a cumulative surprise of 26% [10] Strategic Outlook - The strong Q3 results suggest a solid outlook for fiscal 2027, with potential acceleration in growth due to the removal of a $110 million tariff headwind and successful new product launches [12]

Core Insights - The presentation is led by Megan Kulick, the Director of Investor Relations for Birkenstock Holding, who expresses gratitude for attendees braving challenging weather conditions to participate in the event [1]. Group 1 - The event is taking place in a beautiful venue, indicating a focus on creating a positive atmosphere for investors [1]. - The company is engaging with both in-person and online attendees, highlighting its commitment to investor relations and communication [1]. Group 2 - The presentation includes legal disclaimers regarding forward-looking statements, which are subject to safe harbor provisions under financial securities laws [2].

Market Overview - Stocks are experiencing a decline, with significant movements in the metals market, particularly gold and silver, which are seeing record drops [1][2]. - Gold futures are down 7%, with a peak decline of over 11%, marking the largest drop since the early 1980s. Silver futures have fallen more than 26% [2]. Federal Reserve Nomination - President Trump has nominated Kevin Worsh to replace Jerome Powell as Fed Chair, with Worsh perceived as a hawkish figure, which may influence interest rate policies [5][6]. - Trump expressed a desire for rate cuts but did not directly ask Worsh about his commitment to this [6][7]. - Analysts suggest that if Worsh is confirmed, he will need to persuade a divided Federal Reserve committee regarding his policies [8][11]. Economic Indicators - St. Louis Fed President Alberto Musalum indicated that current interest rates are neutral and does not favor further cuts due to inflation concerns [9][10]. - Fed Governor Chris Waller dissented in a recent policy meeting, advocating for a rate cut due to job market weaknesses [10]. Cryptocurrency Market - Bitcoin remains stable around $84,000 despite volatility in other markets, with analysts noting that Worsh's hawkish stance may not support a crypto rally [4][25]. Company Earnings and Market Sentiment - Deckers Outdoor reported stronger-than-expected sales, particularly driven by its Hoka running shoes, leading to a positive market reaction [41][43]. - Verizon's earnings exceeded expectations, with wireless subscriber numbers at a six-year high, despite announcing mass layoffs [45][46]. - Bombardier's stock is under pressure due to potential tariffs on Canadian-made aircraft, with a noted decline of 6.3% [48][49]. SoFi's Growth - SoFi reported its first quarter with over $1 billion in revenue, driven by a 37% revenue growth, indicating strong consumer demand [52][57]. - The company is expanding its offerings in cryptocurrency and aims for continued growth in the financial services sector [60][64]. Tech Sector Outlook - Analysts are optimistic about Alphabet and Amazon, with expectations for strong earnings driven by advertising growth and cloud services [97][106]. - Google's Gemini is expected to enhance search capabilities and overall revenue growth, while Amazon's AWS is anticipated to accelerate, contributing to its profitability [100][108].

And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside Katie Greifeld, taking you through to that closing bell with a global simulcast. There it is behind me, Carol Massar Tim Stenovec in the radio room.Welcome to our audiences across all of our Bloomberg platforms, including our partnership with YouTube a day Carol Massar That, of course, has been consumed by the attention on Kevin Warsh, the nominee to succeed Jay Powell. But it kind of obscures some real volatility ...

Market Overview - Major indices finished the month of January with gains despite volatility, with the Russell 2000 being the biggest gainer at up 3% [8] - The S&P 500 saw a slight increase of 1.3% overall for the month [3] - On the final trading day, the Dow Jones Industrial Average was down 0.4%, the S&P 500 down 0.4%, the Nasdaq down 0.9%, and the Russell 2000 down approximately 1.5% [7] Company News - Peloton announced a staff reduction of 11%, including from engineering teams, leading to a 2.5% drop in shares as part of a cost-cutting strategy [5] - Deckers, owner of UGG and HOKA brands, was the top gainer in the S&P 500, rising 19% after raising its annual earnings and sales forecast [11] - SanDisk experienced significant volatility, with shares up 25% at one point during the day but closing up just shy of 7% [12] - A company reported the largest gain in mobile phone subscribers since 2019 and plans to buy back up to $25 billion in shares, resulting in a nearly 12% gain in its stock [16][17] - Rocket Companies saw a decline of 13.7% following disappointing earnings from PennyMac Financial Services, which reported profits significantly below expectations [19] - Unity Software lost nearly 25% of its market cap in a single day due to a product announcement from Google, while Take-Two Interactive fell 8% [20][21] - Bombardier shares dropped 6.6% after President Trump threatened tariffs on Canadian aircraft, although analysts believe the threat may be exaggerated [23][24]

Core Insights - Deckers, owner of HOKA and UGG, continues to perform well amidst a broader industry trend of inventory reduction and expectation adjustment, reporting a net sales of $1.958 billion for Q3 FY2026, a 7.1% year-over-year increase [1] Financial Performance - UGG's net sales reached $1.305 billion, growing by 4.9% year-over-year [1] - HOKA's net sales surged to $628.9 million, with a year-over-year growth rate of 18.5%, rebounding from the previous quarter's 11.1% [1] - International market growth for Deckers was 15%, significantly outpacing the 2.7% growth in the U.S. market [1] - The gross margin slightly decreased to 59.8%, but diluted earnings per share increased from $3.00 to $3.33 year-over-year [4] - DTC (Direct-to-Consumer) sales accounted for over 55% of total sales, indicating strong pricing power and inventory control [4] Strategic Initiatives - HOKA is expanding its presence in China, utilizing a dual-channel strategy to penetrate the new middle-class consumer segment [1] - The brand is focusing on opening flagship stores in key urban areas and conducting frequent offline community events to maintain high full-price sales rates [2] - HOKA's store count in China has surpassed that of any other global market [3] Market Challenges - Increased competition in the professional running shoe segment, particularly from brands like On, is creating a more crowded market in China's first-tier cities [5] - Deckers' inventory levels rose by 10% year-over-year, attributed to preemptive tariffs and logistics reserves, raising concerns about balancing high-end positioning with scale expansion [5]

分组1 - Deckers Outdoor's stock surged 11% in early trading after reporting better-than-expected fiscal third quarter results [1] - The company earned $3.33 per share on $1.96 billion in revenue, exceeding estimates [2] - Sales for Hoka and UGG brands increased by 18% and 5% respectively compared to the same period last year [2] 分组2 - Deckers raised its full fiscal year sales forecast to between $5.4 billion and $5.425 billion, and EPS to between $6.80 and $6.85, both above analyst consensus [3] - Previously, the company projected full-year revenue of $5.35 billion and EPS of $6.30 to $6.39 [3]