Fitbit Inc on Wednesday outpaced Wall Street estimates for quarterly results as its strategy of adding smartwatches to its product line got a boost in the second quarter with higher sales for ‘mass-appeal’ Versa.
Fossil Group shares soared 79 percent in early trading on Wednesday as short sellers rushed to cover their positions, a day after the watchmaker posted a better-than-expected increase in sales in the holiday quarter.
Deckers Brands Board of Directors revealed the turmoil the brand is currently going through in a letter it sent to its shareholders urging them to retain the current Board and not replace them with hedge fund nominees.
The Italian eyewear company moved its headquarters from Parsippany, NJ, its home of 20 years, to Secaucus, NJ. The new office will work in tandem with the company's Fifth Avenue Global Design Studio and Showroom.
Nike is one of six major brands to see a decline in teen spending, and the age group has an increased preference for streetwear labels like Vans and Supreme. In addition, teens spend more on food than clothing.