Converse news and archive

Nike posts surge in Q4 sales and profit

Nike, Inc. said fourth quarter reported revenues were 12.3 billion dollars, up 96 percent compared to prior year and increasing 21 percent compared to the fourth quarter of 2019. Full year reported revenues increased 19 percent to 44.5 billion dollars. Gross margin for the quarter increased 850 basis points to 45.8 percent, while diluted...

Fashion

Designer Kim Jones launches collection with Converse

Debuting his first collection for Converse, fashion designer Kim Jones explores the brand’s DNA through his nostalgic designs while delivering a contemporary spin on the American sneaker. Jones stated he updated the Converse Chuck 70 sneaker with streetwear in mind by reinforcing foot stability and enhancing grip to increase traction on city...

Fashion Featured

'Sneakers tell your story': Sneaker crave floods South Africa

Queueing outside an upmarket Johannesburg clothing store, young fashion lovers hope to lay their hands on the latest sneakers to come out of the United States. For South Africa's city dwellers, sneakers are more than just shoes. As a marker of personality as well as social status, they are cared for and worn with pride, and youths compete to...

Fashion

Converse sales soar due to "Kamala effect"

Converse, the American shoe company best known for its youthful Chuck Taylor All-Stars, is having a moment. Sales are flying in the United States, increasing 50 percent in the last week of January, after Vice President Kamala Harris was spotted wearing a pair. While sales jumped during inauguration week, data from research company NPD Groups...

Business

Nike second quarter revenues increase 9 pecent

Second quarter revenues for Nike, Inc. increased 9 percent to 11.2 billion dollars compared to the prior year, up 7 percent on a currency-neutral basis. The company said in a statement that revenues for the Nike brand were 10.7 billion dollars, an increase of 8 percent to prior year on a currency-neutral basis driven by strong double-digit...

Business

Nike announces 12 percent increase in quarterly cash dividend

Nike, Inc. has announced that its board of directors approved a quarterly cash dividend of 0.275 cents per share on the company’s outstanding Class A and Class B common stock. This, the company said in a statement, represents an increase of 12 percent versus the prior quarterly dividend rate of 0.245 cents per share. “Today’s announcement marks...

Video

Video: The Fashion Archive debates whether sneaker companies are taking advantage of designers

In this video, The Fashion Archive discusses sneaker companies, Converse in particular, and whether they are taking advantage of designers in contracts. Watch the video below. Video: The Fashion Archive via YouTube Photo credit: Unsplash

BusinessFeatured

Nike's online sales surge 82 percent, posts rise in profit

For its first quarter, Nike, Inc. reported revenues of 10.6 billion dollars, down 1 percent on a reported basis and flat to prior year on a currency-neutral basis. The company said in a statement that Nike Direct sales were 3.7 billion dollars, up 12 percent on a reported basis, and up 13 percent on a currency-neutral basis, with growth across...

BusinessFeatured

Nike posts Q4 loss, sales drop 38 percent

Nike, Inc. has announced that its fourth quarter revenues decreased 38 percent to 6.3 billion dollars, down 36 percent on a currency-neutral basis, primarily due to owned and partner physical store closures across North America, EMEA and APLA due to Covid-19, partially offset by growth in Greater China. The company’s gross margin decreased 820...

BusinessFeatured

Nike reports 36 percent digital growth amid COVID-19 outbreak

Nike revenues increased to 10.1 billion dollars in the third quarter, up 5 percent on a reported basis and up 7 percent on a currency-neutral basis, driven by 13 percent currency-neutral growth in Nike Direct with digital growth of 36 percent and strong growth across EMEA, APLA and North America, offset by the impact of COVID-19 on the company’s...

Fashion

Converse to launch first genderless apparel collection, Shapes

Converse is launching its first genderless apparel collection in the summer called Shapes. The first of three collections by the American footwear and apparel brand to debut in 2020, Shapes has been designed “not for gender, but instead for body shape” and has been inspired by the belief that “size is a reference point, not an identity.” The...

BusinessFeatured

Nike delivers strong revenue and earnings growth in Q2

Nike, Inc. has announced that its revenues for its second quarter ended November 30, 2019 increased to 10.3 billion dollars, up 10 percent on a reported basis and up 13 percent on a currency-neutral basis, driven by strong growth across all geographies. The company said, diluted earnings per share for the quarter were 70 cents, an increase of 35...