Here's our initial take on Nike's (NKE 15.77%) fiscal 2025 fourth-quarter financial report.Key MetricsMetricQ4 FY24Q4 FY25Changevs. ExpectationsRevenue$12.6 billion$11.1 billion-12%BeatEarnings per share (adjusted)$1.01$0.14-86%BeatNIKE Direct revenue$5.1 billion$4.4 billion-14%n/aGross margin44.7%40.3%-4.4 ppn/aA Rough Quarter for NikeNike beat analyst expectations with its fiscal fourth-quarter results, but the bar was low. Total revenue tumbled 12% year over year, and adjusted earnings per share were dow ...

It's my privilege to be here and to be able to talk on this beautiful one of the most beautiful TEDex topics I have come across and um this is my second time to IMT. Um the earlier one was IMT Gazyabad and I still remember the time uh as a kid after school after 12th when we all want to have an admission in IMT or IM of the countries I was one of them unfortunately couldn't make it because I was always busy playing basketball on the courts but uh today standing in front of all of you um it's I feel it's qui ...

更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha 4 June 2025 | 8:12PM HKT Li Ning Co. (2331.HK): Consumer & Leisure Corporate Day: 2025 outlook reiterated though discount is key to watch; Neutral Bottom line: We hosted Li Ning at our Consumer & Leisure Corporate Day on Jun 4 and mgmt reiterated FY2025 guidance and highlighted YTD trading and OPEX investment (incl COC sponsorship)/non-OP are largely on track, but GPM could see uncertainties due to promotions/discount. More specifically, 1) Recent trend: With stable consumer ...

A group of app developers have filed a class action lawsuit against Apple on the heels of a court ruling against the company for violating a 2021 injunction involving mobile purchases. The class action, filed on May 2, alleges that despite the injunction, Apple continued to block app developers from pointing users to in-app purchases and subscriptions outside of the company's own ecosystem, so that it wouldn't lose out on the 30% fee it charges to developers.The class action is a latest turn in a legal saga ...

Summary of Li Ning Co. (2331.HK) Conference Call Company Overview - **Company**: Li Ning Co. (2331.HK) - **Market Cap**: HK$38.6 billion / $5.0 billion - **Enterprise Value**: HK$23.2 billion / $3.0 billion - **Industry**: Greater China Retail Key Points from the Conference Call 1. 1Q25 Performance - Retail sales growth was reported at +LSD% year-over-year, aligning with expectations but weaker than competitors like Anta (+HSD%) and Fila (+HSD%) [1][2] - The performance in March and April showed a decline, indicating uncertainty in demand recovery [1][2] 2. Full Year Guidance - The company maintained its guidance for flat revenue growth and a net profit margin (NPM) at high single digits (HSD%) [2][17] - Management noted that the NPM decline is anticipated due to stable gross profit margin (GPM) outlook, increased advertising and promotion (A&P) expenses, and rising R&D costs [2][22] 3. Monthly Sales Trajectory - Sales were satisfactory in January and February but decelerated in March, with April showing persistent weakness due to unfavorable weather impacting spring collections [2][17] - Retail sales by channel showed mixed results: offline retail was down, while e-commerce grew by low teens percentage [18] 4. Discount and Inventory Management - Discounts improved year-over-year in 1Q25 but narrowed in March due to softening demand [2][18] - Inventory levels were controlled at approximately 5 times sales, with expectations to reach a healthier turnover of 4-5 times by year-end [18][22] 5. Category Performance - Running category saw over 20% year-over-year growth, while basketball and lifestyle categories experienced double-digit declines [2][18] - Footwear led growth with +HSD% year-over-year, while apparel saw a slight decline [18] 6. Store Network and POS - Total points of sale (POS) in China decreased by 29 in Q1, with expectations for a net closure of 10-20 direct-operated stores and an increase of 30-40 wholesale stores [18][22] 7. Marketing and A&P Strategy - A&P expenses are expected to increase by low double digits in 2025, with significant marketing planned for the second half of the year [22] - The company plans to launch various marketing activities, including sponsorships for marathons and basketball events [22] 8. Economic and Strategic Considerations - The company does not foresee significant direct impacts from tariffs due to minimal U.S. business, but indirect effects from economic factors are acknowledged [20] - Management's strategy remains focused on enhancing brand power through increased investment in professional resources and tailored products for specific consumer segments [21][22] 9. Financial Projections - Revenue forecasts for 2025-2027 have been revised down by 4-7% due to the current market conditions [8][14] - New 12-month price target set at HK$14.5, down from HK$14.8, based on a 12x 2026E P/E ratio [14] 10. Market Performance - The stock has underperformed relative to the Hang Seng China Enterprises Index, with a 12-month absolute return of -28.9% [10][11] Conclusion Li Ning Co. is navigating a challenging retail environment with mixed performance across categories and channels. The company is maintaining a cautious outlook for the remainder of the year, focusing on inventory management, marketing strategies, and adapting to economic conditions.

Under Armour, Inc.’s (UAA) strategic transformation across its direct-to-consumer (DTC) model, product innovation and global expansion are driving meaningful progress toward sustainable growth and profitability. By prioritizing premium positioning, enhancing customer loyalty and leveraging data-driven retail experiences, the brand is deepening consumer engagement and strengthening its market presence. Coupled with disciplined cost management and improved margin performance, Under Armour’s upbeat fiscal 2025 ...

Five Below (FIVE) Q4 2025 Earnings Call March 19, 2025 04:30 PM ET Company Participants Christiane Pelz Alpher - VP - Investor Relations & TreasuryWinnie Park - CEOKen Bull - COOKristy Chipman - CFO & TreasurerChuck Grom - Managing DirectorKaren Short - Managing Director – Head of Consumer/Retail ResearchJoseph Feldman - Senior MD & Assistant Director - Research Conference Call Participants Kate McShane - AnalystScot Ciccarelli - MD & Senior Research AnalystMichael Lasser - Equity Research Analyst - Hardlin ...