Swiss watch exports drop in February on weak demand in China, US

By Bloomberg Published March 20, 2025 Swiss watch exports’ downward trajectory resumed in February after a one-month respite, with all main markets seeing a decline. Longines Shipments from Switzerland’s third-biggest exporting industry fell 8.2% overall, hampered by slow demand in China, the Federation of the Swiss Watch Industry said Thursday. In total, 102,000 fewer watches […]

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Nike sales beat estimates in new CEO’s first full quarter

By Bloomberg Published March 20, 2025 Nike Inc.’s results surpassed analysts’ expectations as its new chief executive officer’s turnaround strategy begins to take hold. Nike Revenue fell 9% to $11.3 billion for the quarter ended Feb. 28. That’s better than the 11% drop that Wall Street predicted. Nike shares rose 4% at 4:26 p.m. in […]

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Nike faces store strike in Turkey on top of online sales pause

By Bloomberg Published March 20, 2025 Nike Inc. is running into trouble in Turkey, where it has the most stores in Europe, adding to the sportswear company’s headaches.   Nike Unionized retail employees at nine Turkish Nike stores are set to strike on Friday after the parties failed to reach terms on a new collective […]

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Temu-owner PDD Holdings’ revenues hit by intense China competition and challenges abroad

By Reuters Published March 20, 2025 PDD Holdings, which operates e-commerce platforms Pinduoduo and Temu, missed market estimates for quarterly revenue on Thursday, as demand remained weak in China despite deep discounts and government stimulus to boost spending. Shutterstock While government stimulus measures and deep price cuts from retailers have drawn some shoppers, PDD’s sales report indicates […]

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Nike returns to sports while investors impatiently await reset

By Bloomberg Published March 19, 2025 Elliott Hill has made his strategy for turning around Nike Inc. very clear in his first five months as chief executive officer: return the sneaker giant to focusing on sports, not fashion. Nike Hill has reshaped the company’s organizational chart, overhauled the sports marketing unit and tried to rekindle […]

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