WEBVTT - Decker and Kering Slide; Forgetn Power Falling

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio, news. The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data. Let's take a look

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<v Speaker 1>at some stocks on the move today. Always brilliant. Alexis Christophe.

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<v Speaker 2>Let's take a look at Deckers Outdoor, ticker symbol D-E-C-K.

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<v Speaker 2>Stock under pressure, down about 8% here in the pre-market.

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<v Speaker 2>So they lowered their sales guidance after revenue in the

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<v Speaker 2>latest quarter rose by about 3.5%. That missed analyst forecast.

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<v Speaker 2>Net income a little bit better than expected at Decker's.

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<v Speaker 2>It did raise its earnings outlook, but that was thanks

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<v Speaker 2>mostly to a boost from tariff refunds. So remember, this

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<v Speaker 2>is the company. It's a shoe company, a sneaker company.

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<v Speaker 2>They own Uggs and Hoka sneakers, very popular Hoka sneakers.

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<v Speaker 2>But Decker says, look, they said on the earnings call,

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<v Speaker 2>executive said consumers are becoming more cautious about how much

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<v Speaker 2>they're spending. Their shoes are tend to be on the

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<v Speaker 2>pricier side. Decker says they plan to keep selling the

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<v Speaker 2>shoes at full price, even though that choice is resulting

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<v Speaker 2>in lower revenue outlook for the year.

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<v Speaker 1>So they're sticking with it.

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<v Speaker 2>OK, very good.

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<v Speaker 1>The mix thing is a huge deal, isn't it?

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<v Speaker 2>Like price to units.

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<v Speaker 1>Oh, yeah. Do we sell them cheap and sell a

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<v Speaker 1>lot or not?

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<v Speaker 2>Before I buy anything, I check online first. Can I

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<v Speaker 2>buy it elsewhere cheaper? Or start using, I'm using AI

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<v Speaker 2>a little bit for those choices.

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<v Speaker 1>Yeah, yeah. It makes me smarter. Okay.

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<v Speaker 2>It does.

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<v Speaker 1>All right.

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<v Speaker 2>Kerrig. So this company here over in Paris.

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<v Speaker 1>Oh, this is Gucci. Gucci.

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<v Speaker 2>This is Gucci, parent company of Gucci, among other brands.

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<v Speaker 2>But it is down today. Let me see.

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<v Speaker 1>Oh, boy.

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<v Speaker 2>Fourteen and a half percent down. Thirty nine percent a

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<v Speaker 2>year to date. Third quarter sales fell, especially at its

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<v Speaker 2>flagship Gucci brand, where they saw a lot of weakness

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<v Speaker 2>in mainland China and in Japan. And growth slowed here

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<v Speaker 2>in the U.S., This company returned to growth for the

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<v Speaker 2>first time in three years the prior quarter, so still

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<v Speaker 2>trying to get its feet under it. Organic sales at

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<v Speaker 2>Gucci fell 6%, again, partly due to that weakness that

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<v Speaker 2>we're seeing over in mainland China. There were some positives,

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<v Speaker 2>including progress at Yves Saint Laurent. Bottega Veneta, jewelry, eyewear.

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<v Speaker 2>I don't speak French. I just make believe. But they

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<v Speaker 2>also have new creative directors for St. Laurent and Alexander McQueen.

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<v Speaker 2>So analysts are saying that could be maybe something, you know,

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<v Speaker 2>this quarter and in subsequent quarters.

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<v Speaker 1>They were so in.

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<v Speaker 2>They were just incredibly like beyond, like, like in.

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<v Speaker 1>No other way to put it.

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<v Speaker 2>But also, Hermes this week came out. Again, a lot

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<v Speaker 2>of these luxury goods companies seeing weakness in China, where

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<v Speaker 2>there really was never that weakness. Without question, that's the theme.

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<v Speaker 2>All right. American Express also down this morning about 3% here.

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<v Speaker 2>It is cutting 5% of its headcount globally. American Express,

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<v Speaker 2>the CEO, is trying to keep a lid on the

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<v Speaker 2>company's rising costs. He says these cuts are intended to

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<v Speaker 2>make the company more agile and efficient. You know, just

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<v Speaker 2>this week, Barclays also said they were going to be

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<v Speaker 2>cutting about 5,000 jobs. So American Express posted third quarter

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<v Speaker 2>earnings that beat estimates with adjusted earnings per share of

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<v Speaker 2>about $ 4. 68 and also raised its full year earnings guidance.

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<v Speaker 2>but build business. This is a measure of transactions on

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<v Speaker 2>credit cards and other products came in weaker than expected.

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