Consumer Discretionary

Nike Awarded German Football Federation Deal, Replacing Adidas

/ / Consumer Discretionary /

Nike is partnering with the German Football Federation, replacing Adidas, who has been the federation’s sponsor for decades. The sneaker and apparel company has been awarded with this key contract, starting in 2027, CEO John Donahoe says on a call with analysts following the company’s latest results. “It was remarkable team effort and a great proof point that when Nike brings out our best, no one can beat us,” Donahoe says. The company didn’t disclose financial details of the deal. Shares drop 5.8% to $95.

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CFRA Reiterates Buy Opinion On Shares Of Tesla Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target by $40 to $235, based on a 2025 P/E of 55x, a justified premium to peers. We lower our adjusted EPS estimates to $3.00 from $3.90 for 2024 and to $4.25 from $5.50 for 2025 to reflect reduced sales volume and margin assumptions. TSLA shares have underperformed so far in 2024, a pullback we believe was overdue after the stock more than doubled in 2023, but we now see a slower production ramp-up for the Cybertruck and moderating sales growth for the Model Y and Model 3 relative to last year’s 39% Y/Y increase. Given the high fixed cost nature of auto manufacturing, lower volumes should also weigh on margins, although declining battery costs are a silver lining. The good news is

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The Home Depot Expands Pro Ecosystem With Four New Distribution Centers Designed To Bring Convenience and Reliability to Pro Customers

/ / Consumer Discretionary /

ATLANTA, GA / ACCESSWIRE / March 21, 2024 / The Home Depot is opening four new distribution centers, expanding its pro ecosystem to Detroit, southern Los Angeles, San Antonio and Toronto in 2024. The new facilities are a key component of The Home Depot’s strategy to better serve pro customers – whether they’re the pro customers that The Home Depot has traditionally served through the store, or pros working on larger, more complex projects. The new distribution centers will stock large, bulky merchandise like lumber, insulation, roofing shingles and more. With a network of distribution centers stocking a variety of product types, pros can order job lot quantities of the products they need to complete their entire projects, delivered directly to their job sites. The new distribution centers are expected to open in the first half of the year. Along with its supplier partners, The Home Depot is working to build

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Lululemon Athletica Inc. Announces Fourth Quarter and Full Year Fiscal 2023 Results

/ / Consumer Discretionary /

lululemon athletica inc. Announces Fourth Quarter and Full Year Fiscal 2023 Results Fourth quarter revenue increased 16% to $3.2 billion. Diluted EPS of $5.29 Full year revenue increased 19% to $9.6 billion. Diluted EPS of $12.20, adjusted EPS of $12.77 VANCOUVER, British Columbia–(BUSINESS WIRE)–March 21, 2024– lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the fourth quarter and fiscal year ended January 28, 2024. Calvin McDonald, Chief Executive Officer, stated: “We are pleased with the strong finish to our 2023 fiscal year and continue to be ahead of our Power of Three ×2 strategy. During the fourth quarter, we saw continued momentum across our channels, geographies, and merchandise categories, driven by our teams around the world. As we step into 2024, we are focused on the significant opportunities ahead for lululemon as we navigate the dynamic retail environment and deliver for guests through innovative new products and brand activations.”

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Lululemon Athletica Guides For Q1 EPS of $2.35-$2.40 on Revenue of $2.175-$2.20 Billion, Vs CIQ Analyst Consensus of $2.55/Share on Revenue of $2.26 Billion

/ / Consumer Discretionary /

Lululemon Athletica Guides For Q1 EPS of $2.35-$2.40 on Revenue of $2.175-$2.20 Billion, Vs CIQ Analyst Consensus of $2.55/Share on Revenue of $2.26 Billion.

Lululemon Athletica Guides For Q1 EPS of $2.35-$2.40 on Revenue of $2.175-$2.20 Billion, Vs CIQ Analyst Consensus of $2.55/Share on Revenue of $2.26 Billion Read Post »

Nike Reports Flat Quarterly Sales — WSJ

/ / Consumer Discretionary /

By Inti Pacheco Nike reported flat sales for the quarter that ended Feb. 29, missing out on year-end holiday spending that lifted some brands. The sneaker giant reported higher sales in North America and China, offset by declines in Europe and its Converse brand. Nike said its direct-to-consumer sales were flat and its digital sales declined for the quarter. We are making the necessary adjustments to drive Nikes next chapter of growth, said CEO John Donahoe. In February, Nike said it would lay off about 2% of its workforce, or some 1,600 employees, as it works to reduce $2 billion in costs over the next three years. Shares of Nike were little changed in after-hours trading. In December, Nike cut its revenue outlook for the year and executives said they anticipated slower sales in the second half. The sportswear company has been dealing with more competition from rival brands in

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CFRA Keeps Hold Opinion On Shares Of Warner Bros. Discovery, Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We are lowering our target price by $1 to $10, using a narrower risk premium and a forward TEV/EBITDA of 6.5x, below direct peer average. We think accelerated growth and profits for MAX video streaming may take longer. We believe the consensus is optimistic with a $13.70 target price that suggests a scenario for higher growth in EBITDA and profitability. A year ago, we thought EBITDA would show significant growth in ’24, but we see the consensus estimate at $9.9B compared to $10.2B actual EBITDA in ’23. Also, the ’25 consensus estimate of $10.4B equates to less than 5% EBITDA growth. In our view, the share price reflects less patience for WBD to achieve the transformation of its linear networks to MAX. Streaming subscriber gains were modest

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Airline Stocks Can Take Off This Year, UBS Says. Buy These 4, Sell These 2. — Barrons.com

/ / Consumer Discretionary /

By Callum Keown Things are about to start looking up for U.S. airlines and investors should consider buying four stocks in particular — Delta Air Lines, American Airlines, Southwest Airlines, and Alaska Air Group. That’s the view of UBS analysts as they initiated coverage of the airline sector in a note late Tuesday. They see the intense cost pressures facing the industry beginning to moderate later in the year and margins moving higher in late 2024 and into 2025. “The market will recalibrate its 2025 profit estimates higher as there is growing evidence of cost pressures bottoming later this year and unit revenues (revenue per available seat mile) increasing from here,” analysts led by Atul Maheswari wrote. “Plus, demand is likely to hold firm amid a stable economic backdrop and a return of business travel,” they added. But those factors will only drive select airline stocks higher, the analysts noted

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