00:00
Speaker A
Let's take a look at Decker's Outdoor, ticker symbol D E C K, stock under pressure, down about 8% here in the pre-market. So they lowered their sales guidance, um, after revenue in the latest quarter rose to about by about 3 and a half percent. That missed analysts forecast. Net income a little bit better than expected at Decker's. Uh, it did raise its earnings outlook, but that was thanks mostly to a boost from tariff refunds. So remember, this is the company, it's a, it's a shoe company, a sneaker company. They own Uggs and Hoka sneakers, very popular Hoka sneakers. Um, but Decker says, look, they said on the earnings call, executives said consumers are becoming more cautious about how much they're spending. Uh, their shoes are tend to be on the pricier side. Decker says they plan to keep selling the shoes at full price even though that choice is resulting in lower revenue outlook for the year.
00:53
Speaker A
So they're sticking with it.
00:54
Paul
Okay. All right, very good.
00:56
Speaker B
The mix thing is a huge deal, isn't it? Like price or units.
01:03
Speaker A
Oh yeah, absolutely.
01:03
Speaker B
Do we sell them cheap and sell a lot or not?
01:06
Speaker A
I, before I buy anything, I check online first. Can I buy it elsewhere cheaper?
01:10
Speaker B
Or start using I'm using AI a little bit for those choices. And it it makes me smarter.
01:13
Speaker A
Nice. Yeah, yeah.
01:16
Paul
Okay.
01:17
Speaker A
It does. All right. Uh, Kerig. So this uh company here over in Paris.
01:21
Speaker B
Oh, this is Gucci.
01:22
Speaker A
This is Gucci, the parent company of Gucci among other brands. Uh but it is down today. Let me see. Oh boy, 14 and a half percent down, 39% a year to date. Third quarter sales fell, especially at its flagship Gucci brand where they saw a lot of weakness in mainland China and in Japan and growth slowed here in the US. Um, this company returned to growth for the first time in three years the prior quarter. So still trying to get its feet uh under it. Organic sales at Gucci fell 6%. uh again, partly due to that weakness that we're seeing over in mainland China. There were some positives including progress at uh Eve Saint Laurent, Bottega Veneta, jewelry, eyewear. I cannot speak French. I just make believe.
2:26
Speaker B
Oh.
2:26
Paul
Oh, I.
2:27
Speaker A
But um they also have new creative directors for uh Saint Laurent and Alexander McQueen. So analysts are saying that could be maybe something, you know, this quarter and in subsequent quarters.
2:38
Speaker B
They were so in. They were just incredibly in like beyond like
2:41
Speaker A
They were so in.
2:45
Speaker B
like in. No other way to put it.
2:46
Speaker A
But also Hermes this week came out again, a lot of these luxury good companies, goods companies seeing weakness in China where there really was never that weakness.
2:54
Speaker B
Oh yeah, that's without question, that's the theme.
2:57
Speaker A
Yeah. All right, American Express, uh also down this morning about 3% here. Uh it is cutting 5% of its head count globally. Uh, American Express's CEO is trying to keep a lid on the company's rising costs. He says these cuts are intended to make the company more agile and efficient. You know, just this week, Barkley's also said they were going to be cutting about 5,000 jobs.
3:25
Paul
Saw that, yeah.
3:26
Speaker A
So American Express posted third quarter earnings that beat estimates with adjusted earnings per share of about $4.68 and also raised its full year earnings guidance. Uh but build business, this is a measure of transactions on credit cards and other products came in weaker than expected. and that's another reason why the stock is under pressure.
3:53
Speaker B
I totally lost track of this Paul. Up 18% per year for the last 10 years.
4:00
Speaker A
Yeah.
4:01
Speaker B
and remarkably consistent. I mean it's not a straight line, but
4:04
Paul
Yep. No. It's a great, you know, it's just a great call on the consumer. Yeah, it's a franchise. Yeah. And they invest a lot in their brand, I'll tell you that.
4:06
Speaker B
It's a franchise.
4:15
Speaker A
Okay. Did you guys get a load of Moderna yesterday? The stock was down 18% and it's down another 4% here in the pre-market.
4:16
Speaker B
No, please.
4:24
Speaker A
They had a a a trial uh for for melanoma vaccine that was go a late stage trial that was going to be released this weekend. It got leaked online. Uh some analysts are saying it showed a solid benefit but not as impressive as an earlier phase. And so Moderna taking it on the chin this morning.
