Company Updates - Levi Strauss & Co. appointed Jeffrey Jones to its board, effective January 21, with a focus on governance and compensation committees [2] - Jeffrey Jones, CEO of H&R Block since 2017, will retire on December 31 and has a background in brand and digital strategy from his time at Target [3] - Jones is expected to leverage his experience in consumer insights and brand building to enhance Levi's transformation into a direct-to-consumer retailer [4] Industry Developments - The Athlete's Foot launched an e-commerce platform in the U.S., expanding its reach beyond physical retail for the first time in over 50 years [5] - The new platform aims to grow the brand's footprint and attract new customers, complementing its existing 400+ stores worldwide [5] Product Launches - Playboy, in partnership with Fire Brands, introduced a new line of energy drinks featuring the iconic Playboy branding, available in five flavors [6][8] - Each Playboy Energy Drink contains 200mg of caffeine and 30 calories, targeting a younger demographic of creators and tastemakers [8] Consumer Spending Insights - Moody's analysts project a 1.5% growth in consumer spending for the next year, a decline from 2.5% in 2023 and 3% in 2024, with retail expected to be particularly affected [9][10] - Factors contributing to this slowdown include rising unemployment, stagnant wage growth, and increasing costs in healthcare and childcare [10] Retail Performance - Early indicators from the holiday shopping season show that On and Hoka performed well, with significant increases in sell-out percentages during Black Friday and Cyber Monday [12] - On's sell-outs improved by 650 basis points, while Hoka's grew by 550 basis points, indicating strong consumer interest [13] - Nike's running category also saw growth, with sell-outs improving by 380 basis points, attributed to successful product launches and category realignment [14]

Core Insights - Academy Sports + Outdoors is experiencing strong performance in the footwear segment, particularly in performance running shoes from brands like Nike, Brooks, Asics, and New Balance [1] - The athletic slide category has seen a significant resurgence, with double-digit growth driven by ultra-comfort options like Nike Reactx Rejuven8 and Adidas Adilette Comfort Slide [2] - The affordability of slides, priced around $30, appeals to consumers facing financial constraints, making them a popular choice [3] - The company is positioned well in the K-shaped economy, attracting both affluent customers and value-oriented consumers, as noted by Jefferies analyst Jonathan Matuszewski [4] - Promotions are influencing purchasing patterns, with sales aggregating around promotional events [5] - Anticipation for the next year's World Cup is expected to boost sales in specific categories, particularly soccer-related footwear and equipment [6]

Group 1 - Stocks showed mixed performance with the S&P 500 and Dow Jones Industrial Average increasing while the Nasdaq Composite declined slightly, particularly affected by Big Tech stocks [1] - Nvidia shares dropped over 6% following reports that Meta may utilize Google's tensor processing units (TPUs) in its data centers starting in 2027, while Broadcom's stock rose 11% on the news [1] - Jim Cramer suggested that the decline in Nvidia presents a buying opportunity and indicated that investors might also consider buying Meta due to potential cost savings on chips [1] Group 2 - The day was described as "discouraging" for tech investors, highlighting the importance of a diversified portfolio, with a preference for defensive stocks like Procter & Gamble [1] - Procter & Gamble is expected to undergo changes with a new CEO starting in January, which may involve cutting underperforming units [1] - The company has been underperforming recently, but there is an expectation that funds will shift from high-growth tech stocks to more stable, profitable companies, leading to an increase in their position [1] Group 3 - Home Depot's stock is down nearly 12% year-to-date, and the weakness was used as an opportunity to increase the position in the company, with expectations that the stock will rise when interest rates fall [1] - Nike shares increased by 3% after Dick's Sporting Goods announced plans to close several Foot Locker locations, which may benefit Nike [1] - Dick's Sporting Goods reported an improving relationship with Nike, citing strong performance in Nike's running line, which has been successful in both Dick's and Foot Locker stores [1] Group 4 - Other stocks mentioned include Best Buy, Agilent Tech, and Abercrombie, indicating a broader market interest [1]