2026 JANUARY ISSUE
MARKET INTELLIGENCE
SHORT READ
| PART 2
Contents:
New Endeavor of Skims
Nike Under the New Stewardship
Zara’s Fashion Philosophy
China and the Luxury Market
Luxury-Resale Market
Puma Needs to Revamp with Its Tie-Up with Anta
Introducing Chinese Luxury Group – Icicle
Gucci’s Philosophy
Eddie Bauer is Closing Its Physical Stores
Dillard’s Latest News
Macy’s Bold New Chapter
Uniqlo’s Store-Opening Plan
The Revival of Bloomingdale’s
Nike Business Review
More Store-Closing for Macy’s
Market’s Reaction towards LVMH
Amazon’s Tangoing with the Luxury Brands
Under Armour Fall Victim to Weak Demand and Tariffs
Written by Andrew Sia
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From the Desk of the Publisher
When I was composing these titles, more and more I am feeling that I have been writing business studies instead of reporting the glamours out there. Indeed, it is very sad for a veteran like me to have seen the closing of those remarking department stores. I can remember the weekends that we frequented them with our families and friends to enjoy the shopping and browsing through the clothing racks.
It was told from the 1980s through early 2000s, luxury department stores expanded across American malls, but they have all been declining as the United States simply has too many retails space.
To have reached to the point like so many of these retailers out there, it took a lot of talents, long hours of dedications, collaborations, going through so many debates and various trials and errors. Let’s don’t give up so easily.
E-commerce, fast fashion, cheap marketeers, copycats, don’t give us the pleasure in shopping, and certainly provided less for our appreciation of the products we have shopped. The world needs to change, but it needs to change for better and not worse. I ask you to listen to my plea.
New Endeavor of Skims – New York Times, November 13, 2025
Skims is Kim Kardashians, and lately the brand has gained a lot of value from the stock market. The company has raised $225 million from new finance from a $5 billion valuation. Its success is coming from its significant growth in its shapewear and underwear business.
The company was founded by Kim Kardashians and Jens Grede in 2019. For 2015, it is expected to exceed $1 billion in sales.
Skims will use the new funds to open new stores. The brand has already 18 locations in cities including New York, Los Angeles, Atlanta, Austin in Texas and Boca Raton in Florida. It plans to go international and starting with the emerging markets.
The brand will also continue to expand into new products. It included the new launch of NikeSkims, a collaboration with Nike. The line focuses on women’s apparel, with plans to add footwear and accessories.
Skims is the official underwear partner of the Women’s National Basketball Association, the National Basketball Association, and USA Basketball.
It is also laying the groundwork for its beauty business. Skims bought back the 20% stake in its business sold to Coty. It recently contacted Diarrha N’Diaye, founder of the beauty company Ami Colé, and lead the operation. Already it is hinted that in July 2026 it will introduce the $48 Seamless Sculpt Face Wrap.
Nike Under the New Stewardship – WSJ, November 11, 2025
Elliot Hill took over Nike’s founder Phil Knight just about a year ago, is trying to put Nike back in the leading position. With more than 2” of stack height, the $230 Vomero Premium is the tallest running shoe just launched in the store. It was developed only in 8 months, instead of the typical 18 months.
Nike has been known for its running shoes and lately it has lost ground to new starters like On sneaker and Hoka. It has relied on its Air Jordan franchise and other classic sneakers.
The new CEO, Elliot Hill, is going around to rebuild relations with retailers like Foot Locker and specialty running stores after Nike’s frenzy attempt to focus on its e-commerce sales. He is also trying to refocus on shoes to athletes rather than casual footwear and fashion.
He unveiled a bunch of gadgetry products, including a motor-powered footwear system to boost running and walking speed, a new Aero-FIT fabric that cools the body, and a temperature-regulating inflatable jacket.
He reorganized its three brands — Nike, Jordan and Converse and flattened the company’s leadership structure. The company has set for innovation and shorten the product development cycle. A typical example is the shortening of the Vomero Premium by one year. The accelerated timeline initially disrupted the company’s supply chain, but the production has been able to catch up.
It will apply the same approach to other sports categories, and next in lines are the global soccer or football team. It is speeding up its production for the new soccer kit during the 2026 World Cup. This will include its Aero-FIT cooling system that Nike unveiled in October. It is also targeting younger consumers with several football streetwear designs in time for the tournament.
In January 2026, Nike launched two shoe styles featuring the Nike Mind technology. The 22 nodes in the base of the shoes transmit sensory information that can help the athletes to relax and ready for entering the competition. It was created by studying the Tibetan monks how they reached alpha-wave status as they meditate. Then they tested the technology on thousands of people, including professional basketball players as to how the shoes can affect their brain-wave activity and sense of stability.
Its innovation-centric products have gained the market’s acceptance and its running business increased by 20% in recent months. But Nike is still trying to combat the rising tariffs, rising of the materials and shipping costs, and the competition from athletic-shoe rivals.
Phil Knight, its founder, is determined to take back the Nike’s market share.
Zara’s Fashion Philosophy – FT, December 4, 2025
The Spanish fashion giant Inditex owns Zara, Massimo Dutti, Bershka, and Oysho. Although under a choppy consumer environment, it still managed to grow 10.6% in November sales. The earning of €6.3 billion is 3.5 times of those it made in 2010. In contrast, its Swedish rival, H&M, has fallen by roughly 50% in the same 15-year period, and it is struggling to compete with rock-bottom prices of China rivals Shein and Temu.
We have to know that about 45% of what Zara is selling is made in Europe, while H&M is depending on its production in Asia. Zara is able to turn its products around from conception to rack in about 6 weeks, while it takes H&M 6 months.
Zara has little or no fashion risk as it is reacting from the trend showing on the runway, and immediately the fashion is available in the stores. Those unsuccessful products are only given two weeks of shelf life before they get replaced. On the other hand, H&M is taking a very big risk for products that are not selling. In this case Zara also has the niche of the fashion driven market as it is leading, unlike H&M is reacting.
China and the Luxury Market – WSJ, February 2, 2026
China went from barely anything on luxury brands in the early 2000s to generating 35% of the industry’s global sales by 2019. The appetite was so strong that Chinese tourists flew to European cities for shopping.
The pandemic and the China’s imploding of its housing market ended the boom. Its global luxury spending dropped to 23% last year. The U.S. spending generated 31% of global luxury sales last year, an increase from 22% before the pandemic.
The U.S. market is depending to a cluster of wealthy Americans. The S&P 500 has gained 17% over the past 12 months. This has helped to generate an additional $8.4 trillion of stock-market wealth. Most of the benefits have gone to the richest households, who have higher-than-average spending power. This is boosting the top tier of the market for goods such as fine jewelry. But for brands like Gucci and Saint Laurent that are more relying on aspirational shoppers who can spend up to $2,500 a year on luxury goods, are suffering.
China market has been declining in the last five years and luxury industry key players, Richmont, Burberry, Kering, and LVMH are hoping for the China market to revive. The Shanghai Stock Exchange Composite Index has outperformed the S&P 500 since the start of 2025. But its equity markets are volatile, and it is only a tenth of China’s household wealth.
Home values make up 60% of the household wealth in China, and it is more important for the consumer spending. Its property crash since 2021 has wiped out two-fifths off the value of Chinese real estate. Prices continue to drop 6% in 2025 and don’t appear to have bottomed out yet.
In major cities like Shanghai and Shenzhen, wealthy residences have deeper pocket. This can create demand. But a widespread of recovery in China is unlikely as the middle-income consumers are still feeling the pinch from the overall financial challenges.
Savings in China is drawing one-third of its income, compare with less than 5% in the U.S. This also shows how much middle-class consumers are willing to spend on luxury goods.
Second-tier brands such as Ralph Lauren claimed that its sales in China rose more than 30% in its last quarter. Coach’s business was up 21%. Burberry is having success with Gen Z consumers, and it is part of a realistic pricing strategy.
We have heard that Richmond said sales started to grow again in China in the third quarter of 2025. LVMH claimed that consumers in China are stabilizing. The company’s flagship brand, Louis Vuitton, opened a boutique in Shanghai in June 2025. But for the luxury goods to come back in China is unlikely to happen soon.
Luxury-Resale Market – WSJ, February 25, 2026
Last year, the value of the luxury-resale market hits $59 billion. The resale business is growing faster than the primary market and it is now the same size as all the business that luxury brands do through their off-price outlets, which is also their third largest channel by sales.
Luxury companies are having an uneasy truce with the biggest resale platforms like Fashionphile and The RealReal. The top brands are restricting these resale companies to plaster logos all over their advertising campaigns or social media platform. They avoid the perception of an affiliation with luxury brands in their marketing.
The problem is the thousands of small resellers are popping up every year. Luxury goods are sold by livestream on social media through Shopify. New and used luxury products are sold through department stores. Fashionphile has a partnership with Neiman Marcus where customers can trade in their used luxury goods for credit to spend on new luxury goods at the store.
Handbags are one of the most lucrative products for luxury brands, and young Gen Z consumers are now making nearly half of their big purchases at second-tier retailers.
Some luxury brands are doing resale inhouse, like LVMH allow their customers to bring their Rimowa old suitcase to the brand’s store to trade in for credit on their next purchase with the brand. The company would refurbish and resell the suitcase.
It is found that Ralph Lauren sells vintage designs on their website.
Watch brand like Rolex, have a certified pre-owned program that did more than $500 million in sales last year.
Luxury brands are following this resale model to create a permanent, authorized secondhand programs with high-end department stores, or well-run resale platform like Fashionphile. They could negotiate full control over how the initiative is run, in return for providing an authenticity guarantee to customers. The luxury brands start to realize this lucrative business that they would risk losing market share by staying out of the business.
Puma Needs to Revamp with Its Tie-Up with Anta – FT, February 27, 2026
Puma just reported an annual loss and warned the alert to its investors that its largest Chinese investor, Ante would weight on the company. It posted a net loss of €645.5 million from a sharp decline of a net profit of €281.6 million a year ago. This reversal also followed a 13% sales slide of which the selling of excess inventory and €191.6 million in one-off charges which were related to plans of cutting 20% of the office jobs.
This could have an impact of Anta Sports’ recent acquisition of a 29% stake for €1.5 billion in Puma. Anta’s strong focus on direct-to-consumer sales is going to create uncertainty over Puma’s future distribution model. Wholesale is contributing to a third of Puma’s China revenues.
2026 is going to be a transitional year for Puma, as it has to liquidate its surplus stock through factory outlets and select wholesale partners and refocus product development on football, running, and training.
For its current year, Puma is expecting sales to fall another 7% and losses before interest and tax between €50 and €150 million. It is going to reduce its product range and sharper the brand’s image to support high prices, with a return to growth target from 2027.
Puma’s stock has fallen more than a fifth over the past 12 months, about the same as Nike’s 22% decline, but better than Adidas’ 35% slide.
Introducing Chinese Luxury Group — Icicle
Icicle is a Shanghai-based brand known for its minimalist look which was founded in 1997. It has 240 stores in 140 cities in China and it is beginning to expand internationally. In 2018, it bought French fashion brand Carven out of bankruptcy, and together with Icicle’s manufacturing and logistic facilities in China, it formed the ICCF group. Icicle also has a store in Dublin.
Its parent company ICCF, is considering an initial public offering in either Hong Kong or Paris, although no financial advisers have been appointed at this stage. One investor is estimating the brand could be worth around €1 billion and listing is unlikely as there is a backlog of applications already lining up with the Chinese securities regulator.
In recent years, homegrown luxury brands have been gaining market share in China as they start to compete more fiercely with western incumbents.
Since Icicle is still privately owned, it doesn’t have to disclose any financial information, and it is estimated that its revenues are about a few hundred million euro, probably about €400 million last year.
Icicle is dubbed the “Max Mara of China.” It is a top tender in China’s premium, eco-responsible fashion market.
Spending on luxury brands in China’s wealthy supported the sector’s growth for more than a decade. In recent year, an economic slowdown and slumping consumer confidence affected spending on high-priced goods.
Many of the international luxury brands expanded their footprints to second-tier and third-tier cities are pulling their focus on core locations although the market could have stabilized.
Gucci’s Philosophy
This was what Gucci was trying to describe itself — It is drama, passion, passion, excess, contradiction, love and hate, triumph and collapse, pride and vulnerability, perseverance, chaos, genius. Everything that could say about a human being you can say about Gucci.
Eddie Bauer is Closing Its Physical Stores
Eddie Bauer (1899-1986) was an iconic outdoor gear brand in 1920 in Seattle. The inventor of the first quilted down jacket in 1940, known as the “Skyliner.” It patented the standardized shuttlecock for badminton and develop high-quality outdoor sporting goods.
Eddie Bauer, as the person was born on Orcas Island, Washington. He was an avid out-door person who started his career repairing tennis rackets before expanding into hunting and fishing gear. He founded the first shop in 1920 which grew into an international brand for mountaineering expeditions, including the first American ascent of Mount Everest in 1963. He was known for his dedication of quality and his wife joined him on hunting trips to test gear and eventually led to the creation of women’s department. Eddie Bauer sold his business interest in 1968.
The company’s history of 106 years and association with outdoor adventure, including specialized gear for mountaineering, skiing, and hunting. But it is coming to its end as of March 12, 2026, would be the deadline for customers to use gift cards and loyalty rewards in-store due to Chapter 11 bankruptcy and the closure of all North American store locations.
The online store, manufacturing, and wholesale business, operated by a separate company, Outdoor 5, are not affected.
Dillard’s Latest News
Dillard’s an 88-year-old department store is opening a new mall location in March. It is opening at the Mall at Fairfield Commons in Dayton, Ohio, on March 19, after closing several stores in recent years. The new store will replace a spot that was occupied by Macy’s that was closed in March 2025.
As the first Dillard’s store in Dayton, Ohio, it will create hundreds of jobs for the community and feature premium national and exclusive brands. These brands have been tailored specifically for Dayton and Beavercreek area customers.
Macy’s Bold New Chapter
Macy’s Bold New Chapter strategy is aiming at reviving the financially struggling company and trying to return the company to sustainable, profitable sales growth. It first announced its “Bold New Chapter” at the beginning of last year.
The multi-year plan is focused on revitalizing the company by shutting down those underperforming stores, investing in its most productive locations, and accelerating growth in its luxury brands, such as Bloomingdale’s and Bluemercury.
It is also remodernizing its stores and revamping its product assortments. It is boosting the shopping experience and strengthening its digital capabilities. Macy’s is making its effort to reinvigorate relationship with its customers in multiple layers—shopping experience, relevant assortments, and compelling value.
Uniqlo’s Store-Opening Plan
Uniqlo, a Japanese retailer is opening three more new stores in New York City. It has already been opening 11 stores in January across several major cities.
The three stores will open in Bryant Park on March 6, Williamsburg on March 20, and Union Square on April 3.
In Bryant Park, it will partner with the New York Public Library and stock exclusive themed merchandise. This includes products highlighting the MTA, inspired by the city’s transportation network, and merchandise designed by artist Lauren Martin. Uniqlo will also support the library’s “The Library After Hours” program.
Actually, “The Library After Hours” program has been a four-year-old partnership with the New York Public Library that has helped also to improve the store’s accessibility.
In Williamsburg. Uniqlo will showcase products designed by two artists: KAWS, based in Brooklyn, and Hiroshi Masuda, a New York-based Japanese artist.
In Union Square, merchandise will highlight The Andy Warhol Foundation and the popular bookstore The Strand, whose slogan is “18 Miles of Books.”
The ongoing store opening plan for Uniqlo will include Chicago and San Francisco. Other cities will include Boston, Seattle, Washington, D.C., and Annapolis, Maryland. It will also open two more stores in Miami, Florida.
By 2027, Uniqlo aims to operate 200 stores in North America.
Uniqlo opened its first store in New York twenty years ago.
The Revival of Bloomingdale’s – WSJ, February 28, 2026
Most of the Bloomingdale’s stores — 32 of them are located in shopping malls. Dozens of its rivals declared bankruptcy or went out of business, but this department-store chain posted five straight quarters of sales gains, including a 9% rise in its most recent quarter ended November. Its main rival—Sakes Global, which includes Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, filed for bankruptcy in January.
In this report we are going to evaluate Bloomingdale’s strategy and perhaps we can all learn something from this study.
Bloomingdale’s is moving towards for more affordable alternatives than purely a luxury chain. It is reflecting the current economy situation as consumers are scaling back from high-end purchases. The stores are going through renovation and adding more salespeople. It gives the brands more control over their merchandise in how they display within the stores. It is also allowing the brands to do less discount over their products. This is like creating the ambiance into a shop-in-shop experience for the customers.
To take part in reviving the English brand, Burberry, it gives the brand the prime spot in the store and put it back in the Bloomingdale’s flagship location on 59th Street in New York City. During the holiday season, Burberry decorated it like a cozy British cottage full of holiday gifts, a scarf bar and Bloomingdale’s signature Big Brown plush bear donned a plaid scarf. The store’s front façade was wrapped in a giant plaid scarf made with 126,000 twinkling Christmas lights. It has attracted the foot traffic of those customers who used to go to Burberry’s standalone stores.
Dozens of other luxury brands are joining the Blooming’s, and they include Acne Studios, Erdam, Casablanca, and Willy Chavarria. Christian Louboutin opened a shop in the 59th Street store’s shoe department in September of last year. It is selling its red-soled stilettos starting at $945 can be found in the store.
A decade ago, many luxury brands wouldn’t sell to Bloomingdale’s because it was heavily depended on discounting and wasn’t considered upscale enough. At the time they were afraid to damage relationship with Saks, Neiman Marcus and Bergdorf Goodman.
But Bloomingdale’s still has the challenges with its 25 outlet stores and four smaller format locations. It needs to build up the attraction to the customers. It has to give good training to its sales staff in the suburban locations and arm them with the “Little Brown Books” which is an app that puts all customers information as their recent purchases, sizes, and brand preferences. It is refurbishing fitting rooms with softer lights, nicer carpet, and cozy chairs.
Its allowing of a women’s clothing label Lafayette 148, who is only in 5 stores, to bring out their own design of their corner like the standalone stores by using their color palette and furniture.
Bloomingdale’s is also ready to share the sales data with the 180 suppliers. This data is useful to brands to conduct their business inside the store. Also, to make the 59th flagship store more inviting, it is toning down its black-and-white marble checkerboard floor on the ground floor with carpets and wood-tones. The goal is to bring the excitement to other locations by adding more brands, marketing and better customer service. The store is bringing in loyal shoppers that don’t appear in the boutiques of their brands.
At the current shopping environment, seeing Bloomingdale’s moving along this path with the positive attitude is very encouraging. It is sad to hear that the big players like Sakes, Neiman Brothers and Bergdorf Goodman are going out of business. We hope that there is a mighty white knight who can relieve them from their weariness and bring them back into the market we once knew. I think that the pie is big enough and we have plenty of the 20s and 30s who are ready to explore the lifestyle we once enjoy. We have to treat online as supplementary and complementary.
Nike’s Business Review
In Nike’s prime years, we can look at 1990s to 2010s, the company used a multi-channel distribution system, and most analysts group them about 5-6 major sales channels.
Wholesale Retailers – Those have the largest channels:
Sporting goods chain like Foot Locker, JD Sports, Dick’s Sporting Goods.
Department stores
Specialty athletic shops
Independent shoe stores
Nike-Owner Retail Stores – These are more for Nike’s corporate image:
NikeTown flagship stores
Nike brand shopping mall stores
Factory Outlet Stores – These outlet stores are for discount and selling excess stock:
Nike factory stores
E-Commerce – These are for direct online sales:
Nike.com
Nike apps – SNKRS
Third-Party Online Marketplaces:
Platforms like Amazon
Other large online retailers
International Distributors – This also include licensees
Independent distributors in certain countries
Summary: The dominant channel, the wholesale partners, including international distributors were accounted around 84% of Nike’s sales in 2011. Not to forget that Nike has also those international sporting goods chains that are selling the Nike products.
For many years they have been dominating Nike’s sale.
At Nike’s peak, Nike has 30,000+ retail accounts worldwide distributing its products, and hundreds of Nike-owned stores and thousands of partner retailers.
To summarize, Nike’s business structure is known as two big channel groups:
Wholesale / Partnership Retailers
In this group there are several operational channels
Direct-to Consumer (DTC)
Nike stores
Nike website and apps
Case for business study:
For decades, Nike dominated through wholesale distribution—Foot Locker, Dick’s Sporting Goods, and sporting goods chains around the world. At one time its sales channels were 30,000+ in total. These wholesales helped to stock the inventory and expanded Nike’s shelf-space globally.
But around 2017-2021, Nike made a major strategic shift. Aggressively it pushed out Direct-to-Consumer (DTC) and began to sell directly through its company’s website and Nike-owned stores. With this, Nike cutoff its wholesale partners and invested on its digital platform to build a direct relationship with the consumer.
During the time, Nike reduced thousands of retailers and focused on about 40 key strategic partners plus its own digital channel to control its brand experience in a more manageable manner. Nike overlooked that as they cutoff its retail partners, competitors took advantage of the shelf space Nike abandoned. Competitors like Adidas, Hoka, On Running, and New Balance move in.
Nike has to take up the inventory load and when the demand showed, it has created all the negative impacts that would bring upon the brand. Its margin compressed instead of enjoying a high margin as it was first expected. Its discounting increased, and competitors are gaining the market share.
At the time, the trade has entered into a scenario that was never expected — consumer demand slowed, new tariffs increased the cost, China is undergoing a lot of its financial setbacks, and lack of product excitement. These challenges are tough enough even when the market and the company are stable, but now they have made the situation hard to overcome. Nike had to discount 44% of its assortment last year.
In 2021, Nike was worth nearly $300 billion, but today, it is worth only a third of that. Now we know the reason why.
Earlier on we reported that its founder, Phil Knight, is determined to take back the Nike’s market share. The situation doesn’t sound that simple now.
More Store-Closing for Macy’s
Just now we read about Macy’s Bold New Chapter, and now we learned Macy’s plans to close 150 stores by the end of 2026 after it closed at least 66 stores in 2025. It is closing stores like waves and in this spring, 14 of the stores are set to go, this is including Livingston, and Ramsey in New Jersey, and Amherst in New York.
The reasons for store closures are specifically the rising cost of goods caused by the tariffs, and persistence of negative factors across the retail landscape.
As of January 2026, Macy’s has about 455 stores in the U.S. The closing of the 150 stores is part of its “Bold New Chapter.” Its longer-term plan is to operate its about 350 remaining stores. It is reflecting a trend in American retailing stores are shrinking their physical footprint, while focusing in online shopping and concentrating in managing the better-performing locations.
Market’s Reaction towards LVMH
The biggest luxury group — LVMH, has noticed its rich clientele is shrinking, and it has then started to set up its business more catering to the masses. Its most profitable section of the business — fashion and leather goods, has recorded its sixth consecutive quarter of declining sales.
LVMH’s cognac business is also weak as middle-income consumers in China and America are buying less expensive brands. Sales in the wine and spirits division dropped 9% compared with a year ago.
In the jewelry section, which include brands like Bulgari and Tiffany are still in demand, but the 6% growth will need the middle-income shoppers to start shopping.
A recovery in China, where demand has been declined in the past four years, is unlikely to come back in short term.
Its latest share prices fell sharply and dragged down European luxury stocks after its report of a sluggish sales growth for the holiday quarter. Its shares fell 7.9% in trading in Europe and shed a quarter of their value over the past year. This affected the value of the luxury stocks — Kering, Richemont, Hermès, Burberry, and Salvatore Ferragamo.
Amazon’s Tangoing with the Luxury Brands – WSJ, February 3, 2026
Saks Fifth Avenue and Amazon joined force in December 2024 as part of the luxury retailer’s acquisition of rivals — Neiman Marcus and Bergdorf Goodman as Saks needed money for the deal. Amazon who had long desire to sell luxury goods online, invested $475 million in the parent company. This partnership never took off as the Sakes on Amazon’s storefront was facing a limitation of brand participation. It has decided that Saks would focus on driving traffic to its own website instead, although we can still find Balmain, Lanvin, Dolce & Gabbana, and other designers at Amazon’s website.
Amazon has been trying to invite the luxury brands to go on its website which is called Amazon Luxury, but it has still lacked a lot of the more influential brands to attract the traffic.
Amazon was thinking to use the expertise of Saks to attract the high-end designers to participate, but the partnership imperiled after Saks filed for bankruptcy protection on January 14. Saks had breached the deal.
Now Saks announced that it would close all but a dozen Saks Off 5th discount stores. The 12 stores will serve as a way for Saks 5th Avenue, Neiman Marcus and Bergdorf Goodman to clear unsold inventory through its discount stores. It was the result of Saks continuously failed to meet its budgets, burned through millions of dollars in less than a year, and ran up additional hundreds of millions of dollars in unpaid invoices owed to its retail partners, including the $475 million Amazon invested.
I can only say that Amazon has been most unfortunately to have picked up the deal with Sakes Fifth which ended in failure.
Under Armour Fall Victim to Weak Demand and Tariffs – WSJ, February 7, 2026
The athletic-apparel company expected revenue decline by 4% in fiscal 2026. Its North America and Asia-pacific market are expected to fall by 8-9% respectively. The higher tariffs are affecting its basic points by 190, which is at the low end of a decline of 190 to 210 basic points as expected earlier.
For the three months ended December 31, Under Armour posted a net loss of $430.8 million, compared with a profit of $1.23 million in the same quarter a year ago.
Its revenue fell 5.2% to $1.33 billion due largely to its major markets of North America and Asia-Pacific which declined 10% and 5% respectively.
By category, Under Armour’s apparel, also its largest segment, fell 3%, and its smaller segment of footwear and accessories fell 12% and 3% respectively.
On the whole. Under Armour will have to revegetate its business as being in the industry that has the potential to perform better.