Levi Strauss cut its full-year sales forecast, citing weak sales of its denim at department stores and big-box retailers. The denim retailer said momentum at its own stores and website was not enough to offset weaker wholesale trends in the U.S. The company has put more emphasis on its direct-to-consumer business to help control its … Read more
CNBC’s Jim Cramer said Tuesday that he remains a fan of On Holding (ONON), despite Wall Street’s sour response to the Swiss sportswear firm’s second-quarter earnings. Shares of On Holding plunged 17% Tuesday, to under $29 each. Last week, On Holding stock closed at a 2023 high of $36.51 a share. Cramer shrugged off foreign-exchange … Read more
A shopper leaves a Nike store along the Magnificent Mile shopping district with a purchase in Chicago, Dec. 21, 2022. Scott Olson | Getty Images USA Gymnastics and Nike have reached an agreement on a sponsorship deal that will make the athletic giant the exclusive apparel and footwear provider for the men’s and women’s national … Read more