The FashionUnited Top 100 Index closed Tuesday at 1246.24, down by 3.89 and at the waitto take on the sprint of the athletic apparel companies, which became the best performers yesterday thanks to Nike and Lululemon Athletica.
According to the last update on the Bedford Report, athletic clothing retailers have had a surprisingly strong September as strong earnings reports and the upcoming Olympics are expected to drive growth the rest of the year. At Lululemon, revenue for the second quarter was up 39 percent from last year to $212 million. For the full fiscal 2011, LULU now expect net revenue to be in the range of $930 million to $950 million and diluted earnings per share are expected to be in the range of $1.10 to $1.14 for the full year.
Lululemon Athletica, gained +1.47% while Nike's latest profits have met market expectations, sending its shares up more than 5% in after-hours trading. The US sportswear giant made a net profit of $645m (£420m) in the three months to 31 August, up 15% from its same first quarter period last year.
Its revenues rose 18% to $6.1bn, as Nike said demand for its products remained strong around the world. Nevertheless, Oregon-based Nike said its profit margin declined to 44.3% from 47%. Looking forward, Nike chief executive Mark Parker said it "pays to be prudent" in the current economic climate. He added: "It's also essential that we remain on the offensive, creating opportunities. We do that by connecting with consumers, designing innovative products and delivering amazing experiences."
Still in Wall Street, Guess slid -5.96%, to close at $28.40 and its overall traded volume was 2.13M shares in the last trading session. Its market capitalization is $2.63B and it has 92.78M outstanding shares.