Nike and Lululemon shares drop due to bleak forecasts, with reports indicating US consumers are cautious in spending, shifting towards experiences over home goods. Nike scales back production to boost demand amid sales slump.
.@Nike is scaling back production of several designs including Nike Air Force 1 and Nike Pegasus sneakers to increase demand and prevent discounting. This comes as the footwear company faces its worst sales slump in a decade. https://t.co/wW9BlO5yBs https://t.co/ybsWPBnGCt
Nike Earnings Reveal Shift Away From Trendy Apparel https://t.co/m0fW9EboWb https://t.co/hkL5rt5DWe
Recent reports suggest that US consumers are becoming more cautious with their spending. πΈ - Retailers such as Lululemon and Nordstrom are noticing a shift towards experiences over home goods. - Williams-Sonoma has also observed hesitancy in furniture purchases, while Ollie'sβ¦ https://t.co/HKQssLTmd3
πΊπΈ Despite low margins, fashion brands are embracing home goods to round out their catalogs https://t.co/QFJ8Qhn8cN
πΊπΈ Nike, Lululemon shares sink as gloomy forecasts alarm analysts https://t.co/BIfZZYJuhp