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Fly News Breaks for January 10, 2020
ADDYY, NKE, FL
Jan 10, 2020 | 06:45 EDT
Susquehanna analyst Sam Poser downgraded Foot Locker (FL) to Neutral from Positive with a price target of $41, down from $47. Channel checks indicate that holiday launches from Nike (NKE), Adidas (ADDYY), and others were not enough to overcome last year's difficult comparisons, Poser tells investors in a research note. The analyst believes Foot Locker will miss its relatively flat Q4 same-store-sales guidance, but achieve the low end of its low-single-digit fiscal 2019 guidance. Further, any fiscal 2020 guidance in-line or higher than current consensus estimates "will most likely prove too aggressive," contends the analyst. Poser says that despite a "compelling" valuation, less effective engagement and communication is driving lackluster results at Foot Locker. Execution and communication issues may prevent the company from achieving its five-year plan, the analyst contends.
News For FL;NKE;ADDYY From the Last 2 Days
NKE
Mar 28, 2024 | 07:29 EDT
SharkNinja (SN) announced that Patraic Reagan has been named Chief Financial Officer, effective April 22...Reagan will oversee SharkNinja's financial strategies and lead the company's global finance organization, including financial planning and analysis, accounting, treasury, tax, internal audit, and investor relations. Larry Flynn, who served as Interim Chief Financial Officer since June 2023, will continue in his role as Chief Accounting Officer. Reagan joins SharkNinja with over two decades of relevant experience. Most recently, Mr. Reagan served as the Chief Financial Officer of Nike's (NKE) Asia, Pacific, and Latin America segment, where he helped drive consecutive years of strong revenue growth, and EBIT expansion that outpaced revenue while accelerating investment in key areas. Over his 13-year career with Nike, Mr. Reagan also served as the Global VP of Business Planning and was the CFO of Nike's Direct-to-Consumer business in EMEA. Prior to Nike, Mr. Reagan held financial positions of increasing responsibility at roles with with Coach (now Tapestry TPR), Polo Ralph Lauren Corporation, Kraft Foods and Chiquita Brands International. .
NKE
Mar 27, 2024 | 13:03 EDT
Morgan Stanley lowered the firm's price target on Nike to $116 from $124 and keeps an Overweight rating on the shares. Following Nike's Q3 earnings report, the firm reduced its Q4 topline and profitability forecasts based on weaker Q4 sales gross margin guidance than previously assumed. The firm now projects 80c EPS, versus the implied guidance of about 77c-78c and the firm's prior 91c forecast.